EFTA01393477.pdf

GLOUSI 30 Aspen Grove Capital. LLC 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) Performance tyurea haye been calculated Cased the unaudted mforritarce results of SCF. ° Ct. I. an.. ,4..y id as Leyptenibm A v: as. n encue. be mad erto .esletwei the :tam 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 tam above and sets forth snare-tank gtudefines and limitations as to the performame described above. Net p-erlorrname data relleas amourds net of expenses. feel end CEETISti interest. Imiestors should consult with lilts' own kittOWer₹ as to tit appropriate :actors to be azwishued i n evasiatiri this inlanszdion Pest peril:mance is not a piediction of irk. Vtra per of $0F. 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 (3) Ceendower Capita Secondary Opportunities Fund IV. L P. rSOF hir or the "Rill is being foymed by Shindower Capta€. LIP rCtienr oeti. whech is authorized and requited by the United Kingdom Financial Conchs./ Authority The Fund is sec kirg USS1 75 billion in total commitments with the aim of generating attractive risk adjusted investrhant returns principally in the form of capital appreciation. through the, acquisition hokling and disposition of a diverse pormho of investments incitAno buyout, growth seintwe capital special siloadions, tuntsiound mezzanine. distressed opportunities. realestate real art irdiastructure assets from i-1se secondary market The Furst will target globally but priniariI' in the 115 and Europe the acquisition of intelests in established generalist and specialist private equity fund stiuctures tiny:Indira funds of funds. leer-lei fordo and other similar structuresl on the secondary market such fund or situ:aura. a 'Fund Secondary the acquisition of interests in DOIMAXA of private eouty assets on the secordary market in transaction's with greater poinplexity eicluding Spin-..a SpfrOttS. taii-end essinictrzing. assetriquidatiass and IP tendeis invevment interest,a . GT.--led Secoridarci. arid tie) inveginents es an indivrduai portfolio company sponsors teach such investment. a 'Single. Asset Dear). private equity find sponso Glendower STRICTLY CONFIDENTIAL Capital CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0099047 CONFIDENTIAL SDNY_GM_00245231 EFTA01393477