EFTA01392561.pdf

GLOUS128 Patrick Gerschel 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) Performance tyuroa have been calculated based on tine ureudted mforrisarce ,.,sups of SQ.F. S.C.' °Le. anrs oi Sopterutko A v: ans. araara. be load arso .es ais. the :tan, Information" and -Notes to the Investment Performance" sections of this presentation. The "Notes to Investment Performance" section in particular includes. ammo other things. a desciiption of the terms tared in the tables above and sets forth snare-tank gtudefeses and lb.:deters as to the performers:46 described above. Net p-erlorrname data rellems amourds net of expenses. feel and CEETISti inteiest, Investors should consult with lilts' own advisers as to ttw appropriate :actors to be orattedered i n evei.atirl this inicrrnation Past peefismance is not a prediction of theVtra performance of SOF. SOF O. SOF II ts. SOF Ill but is included to demonstrate the track record of the Glendower SOF Team and there can be ro assurance that SOF IV will achieve comparable results or that any target results will be achieved Ceendower Capita Secondary Opportunities Fund IV. L P. fSOF IV or the "Fteern is being foymed by Gkindower Capta€. r'Gienseeri. which is authorized and regulated by the United Kingdom Financial Conchs:I Authority The Fund is seekirg USS1 75 billion in total comnutments 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 incitAna buyout growth Ass* capital special siltation. tunsieund. mezzanine. distressed opportunities. real estate art irdiastiucture assets P Porn eear secondary marked The Fund will target globally DV prIniarif: in the (15 and Europe dl the acqulaition of intelests in established generalist and specialist private equity fund structures tinctudirg funds of funds. feeder funds and other similar structueest on Me secondary market teeth such fund or structure. a 'Reid Secondarys. the acquisition of interests in ozzitibless of private taaulty assets on the seech-Jary market in transaction's with greater coinplexity eicluding Spin-in I SpfrOttS. tali-end ?eisbuctzing. assetriquidati‘-n. and LP tendois teach invevment interest a . GP-led Secoridarci, arid ran inveginents es an individuar portrolio company alongside private equity fund sponsors teach such investment. a 'Single. Asset Dear). Glendower STRICTLY CONFIDENTIAL Capital CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0097806 CONFIDENTIAL SDNY_GM_00243990 EFTA01392561