EFTA01353996.pdf

GLD0S183 Dimension Capdal Management Consistent top returns among peers SOF Funds vs Cambridge Associates' secondary funds performance' 7'3 Secondary funds: Net IRR4 to limited partners Secondary funds: Net multiples to limited partners 50% - 2 5x + Upper Quartile Lower Quartile • Median 45% - SOF D TVPI =2.3x 40% - SOF TVPI = 1.84x DPI = 2.1x SOF II SOF III TVPI = 1 5x 35% DPI = 1.80x TVPI = 1 3x SOF D SOF III DPI= 1.2x 30% DPI = 0.3x 29% et 30% - ix S0F SOF II 1; 25% - 22% 20% 0.5x • 5% - t 0% 0.0x 04 05 06 07 08 09 10 11 12 13 14 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 • Index DPI Index RVPI SOF funds DPI SOF funds RVPI 11) Source' Cambridge Associates Secondaries Benchmark statistics as ol September 30. 2017 based on data complied from 140 secondary tu [xi:: with a 'Mi!ut—win Efunds poi ,ear. \-itxtino fully liquidated partnerships. fanned between '04 awl 2014 E4(11 SOF Fund its shovm bendanarked against their respeet we vintage peer uttyyp.This informsion reflectsa comparison of sor s arid SOF performs-te against one benchmark a=y; quart*ee may differ When bon1Pared to other Percher:Joking soirees. S OF. SOF J. SCir ri and SOF Ili data isnot included in the data set used to calculate the berichnlaitt data (21 +-damnation veseirted in this chart its based on the marched results of SOF, SOF 0. SOF II and SOF as vi September lid. 2017 and st•culd be read and reeds/fed in wnµoxban with the important Information" and P:aies to Investment Performance Intamat-orl sections of this 40c0nlielt (31 Past performance is n'$ a prediction of the future I>0110fOtert6 of SOF. SOF 0, SOF or SOF HI but is included to denionstrae the track record Ld the Gler4ower SOF Team. (41 internal rates of returns are net of fees. expenses and tamed interest. Cambridge Assoaates research shows that most funds trice at feast six years to settle irto their final quartile ranlung. and I:et-ell/US to this settling they 1W+la)l'Y rank in 2-3 atlwi ftrailifiltik libul•fore fond or bencl‘4113lb PfdlornlxXle Metrics from mole recent vintage years may be less meaningful. Median, is the, muddle fund IRR of Ms Tarp of individual fund iRRs mrzspiss m a vintage year imintintn 3 tundsr. Lipper/ lower quartile are lit threshos for the upped 4t"X and (batom quartixis based on th+ indrindual heel:I:Rs me€uded in a :nrtage year and ar used in conlunillon with the median to determine quartile placement (minimum 3 fiords). CS3 DPI Distribeliors to aid-€n Capital: Rini 'a Residual Vitra to Paid-in Capitt. TYPE:: Total Valve to Paidim Capita:!. TVPI. RVPI ard are pooled retvin ar-iregating all cash Pews and endiiv *Ws in a sample to calculate a dollariereighted return. Glendower STRIC"FLY CONFIDENTIAL Capital CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038588 CONFIDENTIAL SDNY_GM_00184772 EFTA01353996