EFTA01389539.pdf

GLDUS133 Georgetown University Endowment SOF IV — Project Klein Exclusive deal ❑ Fund Secondary St ' GP-led Secondary ❑ Single Asset Deal Expected Closing Date: June 2018 Seller type: Alternative funds Key investment data Transaction summary Invested Capital at close E60-100m (US$80-120m) Number of companies 4 Discount to NAV at close >5% Strategy Mid-market buyout Gross multiple at close 1.1x Region Europe / UK 0/0 funded at close 80% Industries Business services / Healthcare services Use of leverage No Average age at purchase 9 years Description Investment rationale / Glendower Team angle - Motivated quality GP aiming to recapitalize and extend their 2007 mid- Glendower Team angle market pan-European fund while providing liquidity to LPs - Ability to quickly deliver a bespoke solution leveraging Glendower's - Key value driver is largest independent UK premium distributor in its track record in complex transactions segment, well positioned to benefit from market tailwinds - Ability to perform extensive diligence, including onsite visits, full access to companies' management and industry specialists - Second largest asset is a network of medical and cosmetics UK clinics with a private and affluent customer base - Long 15-year relationship with the GP founder Investment rationale - The portfolio also includes an Italian digital marketing company and a management consulting company with blue chip customers - Four well-invested companies positioned to capture growth opportunities arising from ongoing changes in industry landscape - Glendower Capital retains discretion on use of follow-on capital - Key value driver led by industry veteran with a solid track record - Value-add potential from recently implemented cost efficiency initiatives - Opportunity to invest in identified follow-ons at closing, and to contribute additional capital to exploit market dislocations Foi dear:akin pcaposesrjy. The inveelmant presemed above I. s.r*1clgxd. and there is no guarantee that st. linvestineq wit ciernplcaeo,- !Of fll pan at Ideire IFIVApSteci p0ftl0414, 04 that n will be avaliab4e or. afire fultrRi due diligence. prove suitable for "SOF tV This Ode should be reed and reviewed in conjunction with the 'Important Infomietion and "Important Perfre mane Information and Notes to Investment Performance sections Glendower STRICTLY CONFIDENTIAL Capital CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0093898 CONFIDENTIAL SDNY_GM_00240082 EFTA01389539