EFTA01355550.pdf

GLOUSIal Greg Martin 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) Perfamence figunos nave been calculated based on tine uneudted mforatarce rosulta of S0F.. S.C.. °CA'. a i as to Sopterubto A any ancua. load aria .e,letia: the 0, :tao, 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 sacra-tent guidelines and Ilmitations as to the performers:46 described above. Net perforrnaroze data reflects amourds net of expenses. fees! and dried interest. Imieslors should consult with lilts' own kittOWer₹ as to ttw appropriate ,actors to be ociltedta-ed tweeiatiri this inlarrizdion Past peifismance is not a piediction of ire Vtra performance of 40F. SOF O. SOF II a SOF Ill 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 C-iendower Capita Secondary OpportuMties Fund IV. L P. fSOF IV or the "Ftesin is being foymed by Giv.inCloWrig Capl-tal. LIP rOiensweri. which is authorized and regulated by the United Kingdom Financial Conchs:4 Authority The Fund is sec kiru USS1 75 billion in total commitments 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 of investments incitAno buyout growth capital.,‘Parai.se capital special sitesdions, tumaiuund. mezzanine. distressed cpcortunities. new estate art infrastructure assets from secondary market The Fund will target globally DV prIniarif: in the (15 and Europe (0 the acquisition of inteiests in established generalist and specialist private equity fund stiudtures tincfridirg funds of funds. feerlei funds and other similar t4ructurest on the secondary market /avail wy:li fund or structure. a 'Reid Secontlaryi. the acquisition of interests in coiffure* of private toulyaosets on the secondary market in transaction's with greater complexity eicluding Spin-M SpfrOttS. teir-end res1factzing. assetaquidatiasy. and LP tendois teach invevment interest. a .I.SP-led Secoridarvi. arid oil) inveginents is an individuai portfolio coripatty alongside private equity fund si-4411.ois (each such invei:Inient. a 'Single. Asset Dear). Glendower STRICTLY CONFIDENTIAL Capital CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0040756 CONFIDENTIAL SDNY_GM_00186940 EFTA01355550