EFTA01391528.pdf

GLDUS124 BBR Partners Introductiont" Glendower Capital Secondary Opportunities Fund IV, LP ("SOF IV") Glendower Capital is an independent secondary private equity manager owned by its partners - Fully funded and operational since its team spun-off from Deutsche Asset Management on August 1st, 2017 - Glendower continues to advise and manage the legacy SOF Program with US$3 billion of third-party client assets Our mission is to deliver outstanding results for its investors - Strong buyout-like performance with an attractive risk profile, early cash flows and negligible loss ratio - Mature SOF Funds show 1.7x Net Multiple and over 20% Net IRR, overall program shows 1.5x Net Multiple and 23% Net IRR Glendower Capital is launching SOF IV to continue the successful value-investing strategy pursued since 2006 - Disciplined bottom-up underwriting of attractive assets managed by quality managers globally - Across a range of transactions: traditional fund secondaries, GP-led transactions and single asset deals - With focus on value creation through in-depth fundamental analysis as opposed to deal structuring and leverage The Fund is seeking US$1.75 billion in commitments with same key terms as prior fund - In the process of closing US$1.3 billion in a first close in May with ca. 50 investors - Second close before the summer at or above target and final closing in 4Q18 - Active pipeline with two deals for US$200 million closing in May / June and two near term opportunities for additional US$200 million ;• (2) Perfamance lytires have been calculated bas-:-..-3 ‘;rE the unaudted mforillarce rosults of ScF.. oCiF Sopteruboi A ', f. as. n ancua. be road ano no.. the Information" and -Notes to the Investment Performance" sections of this presentation. The "Notes to Investment Performance" section in particular includes. among other things. a desciiption of the terms tared in the tables above and sets forth treaters. guidelines and Ilmitations as to the performers:46 described above. Net p-erlorrnaroze data relleas amourds net of expenses. feel and CEETISti interest. Imieslors should consult with lilts' own advisers as to ttw appropriate ,actors to be coAtside.-eriin evatiatiri this inianyzdion Past perfcamance is not a prediction of Ira. 1:Stra performance of SOF. SOF D. SOF II a SOF lit but is included to demonstrate the track record of the Glendower SOF Team and there can be no assurance that SOF IV will achieve comparable results or that any target results will be achieved Oiendower Capita Secondary Opportunities Fund IV. L P. fSOF IV or the "Ft ii is being foymed by Gkindower Capta€. LIP r•Gienr aeri. which is authorized and regulated by the United Kingdom Financial Conchs:4 Authority The Fund is sec kiru USS1 7$ billion in total commitments with the aim of generating attractive risk adjusted investthant returns principally in the form of capital appreciation. through the, acquisition hokling and disposition of a diverse port*lio a investments incitAno buyout growth Ainti.se capital special sitesdions, tuinamund. mezzanine. distressed opportunities. realestate and infrastructure assets tramar li secondary market The Fund will target globally but priniaril' in the (15 and Europe (0 the acquisition of inteiests in established generalist and specialist private equity fund stiucturea tincludirg funds of funds. feerlei furies and other similar t4ructurest on Me secondary market (wit wy:li fund or structure. a 'Fuld Secondaryi. the acquisition of interests in DOItibibd of private eouty assets on the secorAary market in transaction's with greater poinplexiti aicluding Spinnfi SprrOttS. tai-end 65structizing. assetriquidati‘-n. and LP tendeis teach invevment interest a 'Gr--led Seooridarci. arid ain inveginents is an individuai portrolki company alongside private equity find sponsois teach such invealnient. a Single Asset Dear). Glendower STRICTLY CONFIDENTIAL Capital CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0096479 CONFIDENTIAL SDNY_GM_00242663 EFTA01391528