EFTA01394750.pdf

GLIDUS140 Lawrence Hirsch 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 i• c.cr e,,Losative Oritirus ,,aye been calculated Cased -Yr ire unaudited mforiftarce resulia of SQF r II. an.. a. are v a, .s. be I...4e ..rY- .e the ,., Information" and -Notes to the Investment Performance" sections of this presentation. The "Notes to Investment Performers:it," sectan in particular includes. among other things. a desciiption of the terms tared in tie tables above and sets forth taco-tars. grudelnes and limitations as to the performaislre described above. Net c-erforrname data reflects amourds net of expenses. feel end enured interest. Imiesdois should consult with thee own advisers as to ttw an opiate :actors to be at wide.-ed i n twetiatiri this inlatuation Pest peiformence is not a pie:beton or theVete performance of SOF. SOF O. SOF II a 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 CS; ifiendaver Capita Secondary Opportunities Fund IV. t. P. rSOF IV or the "Ftzeill is being foymed by Skindower Capta€. LIP rtTrienc retl. wtsch is authorized and teguiated by the United Kingdom Financial Conchs./ Authority The Fund is seeking USS1 75 billion in total comnutments with the aim of generating attractive risk adjusted investrhant returns principally in the form of capital appreciation. through the, acquisition honing and disposition of: a diverse bort*lso a investments incitAnti buyout growth capital. Ante* capital special sitoridions, tuuturiund. mezzanine. distressed opoottmities. realestate art Er:hastily:lure assets from des secondary market The Fund will target globally but prImariff in the (15 and Europe it) the acqulattioh of inteiests in established generalist and specialist private equity fund stiuctures ;mother° funds of funds. feeder funds and other similar siructutes1on Me secondary market such fund or snucture. a 'Raid Secondaryi. the acquisition of interests in Daftly's of private twiggy. assets on the secondary market in transactions with greater coinplexity eicluding Spin-in I SpOttS. fr taiiiend tes1factizirria. assetiiquidatiast. and LP tenders roach steer invevment interest. a 'CrlF-led Secoridarci, and sii) dweginents a- an individuai patitim company alongside private. equity find sponsors teach such inyietImeni. a 'Single. Asset Dear). Glendower STRICTLY CONFIDENTIAL Capital CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0100791 CONFIDENTIAL SDNY_GM_00246975 EFTA01394750