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n 2013 rt Source Glendower Cantata proprietary information The Deutsche Sark proprietary smote equity restructunng took pace between 2003 and 2006 Charles Smith and Carlo Pirdwaroli played a rote alongside ether Deutsche Bank cdleagues in the trans.actions that contributed to the disposition or Deutsche Bank
GLOUS144 Glenn Warren Section 1: Executive Summary Glendower Capital Secondary Opportunities Fund IV, LP Established track record19• 2° As of September 30, 2017 the SO
drawings of the General Partner's Share (as defined below) or pay organizational expenses or Fund expenses. The Fund's initial key persons will be Charles Smith. Carlo Pirzioaroli, Adam Graev and Chi Cheung (with such persons, and any replacement key persons, being the 'Key Persons"). The General Partner ma
GL0US1 44 Glenn Warren Section 6: Summary of Terms and Conditions Glendower Capital Secondary Opportunities Fund IV. LP Investment Period Reinvestment Key Person Event
lified professional engineer. Carlo holds an MBA from Columbia Business School and an MSc in Civil Engineering from the University of Rome. Italy. Charles Smith (49), Managing Partner and Chief investment Officer. Based in London. Charles is a Managing Partner & Chief Investment Officer of Glendower Capital.
GLOUS1 44 Glenn Warren Section 5: Fund Management Glendower Capital Secondary Opportunities Fund IV. LP From time to tine. and as appropriate, the Manager may invite add
ount equal to the aggregate Commitments Investor A qualified prospective investor in the Fund IRS The U.S. Internal Revenue Service Key Persons Charles Smith. Carlo Pirzio-Biroli. Adam Graev and Chi Cheung (and their replacements). LIBOR London Interbank Offered Rate. Limited Partner A limited partner
GLOUS144 Glenn Warren Glendower Capital Secondary Opportunities Fund IV. LP Investment Period The period from the First Closing until the end of the quarter following t
blished operational processes - Integrated, self-contained processes - Developed by the Team over 10 years Team's history Carlo Pirzio-Biroli. Charles Smith. Chi Cheung, Deirdre Davies & Francesco Rigamonti start working together to Team Tearn Team restructure USS6bn raises raises raises Deut
GL0US144 Glenn Warren Glendower Capital Overview Established investment team active in the secondary market since 2003' Glendower Capital at a glance Independent part
0* Associate, London 2 years with the team Louise Schoeman 0 6 Vice President, Finance. London Re-pined team in 2017 Glendower Capital Charles Smith 0 Managing Partner, CIO - London Deutsche Bank; Bankers Trust: Coopers 8 Lybrand Camfrielge Untre,..ti; ALMA Joshua Glaser Of Partner, Client
GLOUS144 Glenn Warren Glendower Capital Team Core members of senior team have worked together for 15 years ai RoSe.. ant year.. Carlo Pialo-siroll 00 Managing Partne
Entities connected to both Charles Smith and Glenn Warren

Prince Charles
PERSONGlendower
LOCATION
Deutsche Bank
ORGANIZATIONAdam Graev
PERSONChi Cheung
PERSONGlendower Capital
ORGANIZATIONDeirdre Davies
PERSONJoshua Glaser
PERSONSOF IV
ORGANIZATION
General Electric
ORGANIZATIONEmilio Olmos
PERSONthe SOF Program
ORGANIZATIONAccess Fund
ORGANIZATION
J. Robert Oppenheimer
PERSONPomona
LOCATION
United States
LOCATION
Credit Suisse
ORGANIZATIONDeutsche Asset & Wealth Management
ORGANIZATIONSOF Team
ORGANIZATIONthe SOF Team
ORGANIZATION