EFTA01354853.pdf

GLDUS125 Gerald Ford 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) Perfoiniance tytires have been calculated based en tine uneudted mferniarce results of ScF. aCrE is as e: :.-apterul.fra A v ans. aricara. be lead ana the :ta"! 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 anpatant. guidelines and Fn.:Satiate. as to the performarsie described above. Net p-erlorrname data relleas amourds net of expenses. feel and CEETISti interest. Imieslors should consult with lila' own kittOWer₹ as to tin appropriate factors to be otittsidteed i n evesiatiri this inianyzdion Past perfcamance is not a piedichon of theVtra performance of SOF. SOF O. 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 CS; C-iendower Capita Secondary Opportunities Fund IV. L P. PSOF INr or the "Ft it is being foymed by t... i. rgower Capital. LIP rCtienteeri. which is authorized and iegulated by the United Kingdom Financial Conchs.t Authority The Fund is sec kini USS1 75 billion in total commitments with the aim of generating attractive risk adjusted investment returns principally in the form of capital appreciation. through the acquisition. hokling and disposition of a averse pormho of investments incitAno buyout growth Ainti.se capital special siteedions, tumaiound. mezzanine. distressed opportunities. realestate art infrastructure assets from eel secondary market The Fund will target globally but primarift in the (15 and Europe (0 the acquisition of inteiests in established generalist and specialist private equity fund structures tincludirg funds of funds. feeder fords and other similar t,iructures1 on the secondary market such fund or structure. a 'Fuld Secondaryi. the acquisition of atom in DOIMAXA of private eouty assets on the secondary market in transaction's with greater complexity eicluding Spin-rn SpfrOttS. taii-end assauctizina. assetriquidati‘-frt. and LP tenders teach invevment interest. a icSP-led Secoridarci. arid din inveginents is an individuai portfolio company alongside pmeate equity fund sponsors (each such invei:Inient. a 'Single. Asset Dear). Glendower STRICTLY CONFIDENTIAL Capital CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0039451 CONFIDENTIAL SDNY_GM_00185635 EFTA01354853