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2017 Average buyout TVPI = 159x Average Net RR = 155% Data as of September 30 2017 Fot further benchmariong VI Glendower Canted to tuyoul returns. Pease refer to Went 3 Pau performance is not a psocicil of Ile future performance of SCF. SOF D SOF II or SOF Ill but is included to demonstrate the track
DPI is strong in absolute terms, compares favorably with its peers and shows strong consistency across fund vintages.28 Through September 30. 2017. the SOF Program had invested29 USS3.3 billion in 82 transactions resulting in distributions of over USS1.8 billion and had generated a 1.5x Net Multiple and a 23% N
2017 Average buyout TVPI = 159x Average Net RR = 155% Data as of September 30 2017 Fot further benchmariong VI Glendower Canted to tuyoul returns. Pease refer to Went 3 Pau performance is not a psocicil of Ile future performance of SCF. SOF D SOF II or SOF Ill but is included to demonstrate the track
DPI is strong in absolute terms, compares favorably with its peers and shows strong consistency across fund vintages.28 Through September 30. 2017. the SOF Program had invested29 USS3.3 billion in 82 transactions resulting in distributions of over USS1.8 billion and had generated a 1.5x Net Multiple and a 23% N
2017 Average buyout TVPI = 159x Average Net RR = 155% Data as of September 30 2017 Fot further benchrnarlong VI Glendower Canted lo tuyoul returns. Pease refer to Exhibit 3 Pau performance is not a peocicil of the future performance of r-iF SOF D SOF II or SOF III but is included to demonstrate the tr
DPI is strong in absolute terms, compares favorably with its peers and shows strong consistency across fund vintages.28 Through September 30. 2017. the SOF Program had invested29 US$3.3 billion in 82 transactions resulting in distributions of over USS1.8 billion and had generated a 1.5x Net Multiple and a 23% N
2017 Average buyout TVPI = 159x Average Net RR = 155% Data as of September 30 2017 Fot further benchmariong VI Glendower Canted to tuyoul returns. Pease refer to Went 3 Pau performance is not a psocicil of Ile future performance of SCF. SOF D SOF II or SOF Ill but is included to demonstrate the track
DPI is strong in absolute terms, compares favorably with its peers and shows strong consistency across fund vintages.28 Through September 30. 2017. the SOF Program had invested29 USS3.3 billion in 82 transactions resulting in distributions of over USS1.8 billion and had generated a 1.5x Net Multiple and a 23% N
017 Average buyout TVPI = 1 59x. Average Net RR = 155% Data as of September 30 2017 Fot further benchmarlong of Glendower Ceptad to buyout returns. Pease refer to Extant 3 Pat, performance is not a peocici, o111* future performance of SCF. SOF D SOF II or SOF III but is included to demonstrate the !ra
DPI is strong in absolute terms, compares favorably with its peers and shows strong consistency across fund vintages.18 Through September 30. 2017. the SOF Program had invested29 US$3.3 billion in 82 transactions resulting in distributions of over USS1.8 billion and had generated a 1.5x Net Multiple and a 23% N
Entities connected to both Pease and the SOF Program

Prince Charles
PERSONThe Glendower SOF Team
ORGANIZATION
Deutsche Bank
ORGANIZATION
North America
LOCATIONSOF IV
ORGANIZATION
Puerto Rico
LOCATIONInternal Rate of Return
ORGANIZATION
Julie K. Brown
PERSONTaal Value
ORGANIZATION
Lawrence Krauss
PERSON
United Kingdom
LOCATION
Wales
LOCATION
Columbia University
LOCATION
European Union
ORGANIZATIONMennen
PERSONNotIRR
LOCATION
Denmark
LOCATION
Finland
LOCATION
New York State
LOCATIONCaeca
ORGANIZATION