EFTA01391889.pdf

GLIDUS142 Ironsides Asset Mgmt SOF II — Portfolio construction Gross invested capital breakdown Overview Investment strategy Sector composition Vintage 2011 4% 4% lall. Industrials Fund size US$614m • Large Buyout al Gross invested capital 668m 16% • Mid-Market Buyout . Consumer Performance as of September 30. 2017 GrovAh Equity Capital called 509m 54% Business Services Real Estate Distributions. net 592m 1.16x Other Technology Remaining NAV 187m 0.37x Total net return US$779m 1.53x 20% lall Healthcare Asset geography Vintage year 1/1 Financial Services 12% 19% Ill • Pre 2005 5% Natural Resources • 2005 - 2006 6% 2007 -2008 Real Estate 2009 - 2011 North America 3k II Communications & Media 20% 2012 - 2013 40% aul II 38% RoW 2014 -2015 3% 5%11 Other As at &Wernher ?O. 2017. Past perforem-as is not a guarantee :a indicator ri future results . and time can be no assutanca that the fund will achieve eorepteable tesults This page should be reviewed in conjunction with the 'Important Infonnation• and 'Notes to Investment Performance' sections of this Presentation Glendower STRICTLY CONFIDENTIAL Capital CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0096983 CONFIDENTIAL SDNY_GM_00243167 EFTA01391889