EFTA01353997.pdf

GLDUS183 Dimension Capdal Management Buyout-like returns with a secondary risk profile' SOF Funds outperform Cambridge Associates buyout top-quartile benchmark TVPI in line with top-quartile buyout funds... ...With a secondary cashflow profile Delivering a compelling risk / reward profile DPI2 Net IFR2 23x 2.0x SOF III 1.5x I.Ox 0.5x 0.0x 2005 2008 2007 2008 2009 2010 2011 2012 2013 2014 2015 2005 2008 2007 2008 2009 2010 2011 2012 2013 2014 2015 2005 2008 2007 2008 2009 2010 2011 2012 2013 2014 2015 Vintage Year Vintage Year Vintage Year Buyout Top Quartile .50F Program (1) Source: Cambridge Awl:sates Global Buyout Benchmark as of September 30. 2017. This information neffects a comparison of SOF. SOF D. SOF II & SOF III performance aosurtst one benchmark only Past padanhatte is ria grediesion c' the inure perferrnarze of SOF. SOF D, SOP .2i. SOF tem Iribludel to dr. rnonstisae the track !scam.' of the Glendower SOP Teens. Intormeaion-Luesandel in this duet is based en the unaudited results of SOF. SOF D. SOF if and SOF III as of September ?0.'017 and shouid be read and reviewed ei conjunction with the important Information' and 'Notes to InVestmerit Pertorniance information" ug-tons sd ties presentation (2) TVPI= Total Value to Paid-In Capital, DPI = Distributions to PaiMln Capital: Net IRR = Net Internal Rate of Return. TVFI and DPI are pooled return awiegating all cash flows and ending NAVs in a sample to calculate a dolor-weighted return. Net IRRis ale nut of fees. everuses and carried filthiest Cambridge Associates research shows that 0166l funds take, at least six yearsto settle into thee final quartile ranking. and piryrous to lies iss-ttling they typioally tau* in 24 other quartiles. the. fume, or besot-'rank perfernsirr_oi mette.a. fcCaril more re‘erit runt:rue years mar be *Se. ME,W4.19144. Top quaniw is the eltesheid for the upper (top Va.) quart* based co the Individual fund IRRs included in a vintage year and are used in conjunction with the median to determine quartile placement (minimum R4 funds. Glendower STRICTLY CONFIDENTIAL 18 Capital CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038589 CONFIDENTIAL SDNY_GM_00184773 EFTA01353997