Epstein Secrets

n 2013 rt Source Glendower Capers proprietary information The Deulsone Bark proprietary private equty restructunng took pace between 2CO3 and 2006 Charles Smith and Carlo Piarearoli played a rote alongside ether Deutsche Bank cdleagues in the transactions that comnbuted to the disposition or Deutsche Bank's

GLDUS140 Lawrence Hirsch Section 1: Executive Summary Glendower Capital Secondary Opportunities Fund IV. LP Established track record"• 2° As of September 30, 2017 the SOF

ty kind sponsors (each such co-investment, a 'Single Asset Dear). SOF IV will be the fourth dedicated secondary fund led by Carlo Pirzio-Biroli and Charles Smith (the 'Managing Partners") and invested by Glendower Capital's team of investment professionals. As described in *History' (immediately below), thi

GLDUS140 Lawrence Hirsch Section 1: Executive Summary Glendower Capital Secondary Opportunities Fund IV. LP Executive Summary Overview Glendower Capital Secondary Opport

d by the secondary opportunities team that spun-out from Deutsche Asset Management on August 1, 2017. The senior team led by Carlo Pirzio-Biroli and Charles Smith has worked together for 15 years at Deutsche Bank in its asset management division. The secondaries business. co-founded by Carlo and Charles in 200

GLOUS140 Lawrence Hirsch Section 5 Fund Management Glendower Capital Secondary Oppodundies Fund IV. LP Fund Management Glendower Capital Glendower Capital is an independ

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.

GLOUS140 Lawrence Hirsch Section 5: Fund Management Glendower Capital Secondary Opportunities Fund IV. LP From time to tine. and as appropriate, the Manager may invite add

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

GL0US140 Lawrence Hirsch Section 6: Summary of Terms and Conditions Glendower Capital Secondary Opportunities Fund IV. LP Investment Period Reinvestment Key Person Event

0* Associate, London 2 years with the team Louise Schoeman 0 6 Vice President, Finance, London Repined team in 2017 Glendower Capital Charles Smith 0 Managing Partner, CIO - London Deutsche Bank; Bankers Trust; Coopers 8 Lybrand .IA. Cavilled& Uneemily; ALMA Joshua Glaser O Partner, Clien

GLDUS140 Lawrence Hirsch Glendower Capital Team Core members of senior team have worked together for 15 years ai ReSe., :int year.. Carlo Pirzio-Biroll 00 Managing Part

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

GLIDUS140 Lawrence Hirsch Glendower Capital Overview Established investment team active in the secondary market since 2003' Glendower Capital at a glance Independent part