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e than 80 cleats and having screened thousands of funds over 10 years.22 • Unique sell-side experience. having participated in the restructuring of Deutsche Bank's 65.1 billion proprietary private equity portfolio from 2003 to 2006.21 Disciplined and selective investment process • Targets attractive risk-adju
uch transactions and the efforts described in this Merncrandum in respect of the proprietary private &Key restructunng are attributable to the whole Deutsche Bar* learn rather than any individual within it There can be no assurance that the Fund will achieve es investment oldectwe or its target return Confide
's proprietary private equity pordobo Charle9 Smith and Carlo Pirao.Broli were not invoked in Si such transactions and the efforts described in this Merncrandum in respect of the proprietary private &Key restructunng are attributable to the whole Deutsche Bar* learn rather than any individual within it Ther
e than 80 cleats and having screened thousands of funds over 10 years.22 • Unique sell-side experience. having participated in the restructuring of Deutsche Bank's 65.1 billion proprietary private equity portfolio from 2003 to 2006.21 Disciplined and selective investment process • Targets attractive risk-adju
uch transactions and the efforts described in this Merncrandum in respect of the proprietary private &Key restructunng are attributable to the whole Deutsche Bar* learn rather than any individual within it There can be no assurance that the Fund will achieve es investment oldectwe or its target return Confide
's proprietary private equity pordobo Charle9 Smith and Carlo Pirao.Broli were not invoked in Si such transactions and the efforts described in this Merncrandum in respect of the proprietary private &Key restructunng are attributable to the whole Deutsche Bar* learn rather than any individual within it Ther
e than 80 cleats and having screened thousands of funds over 10 years.22 • Unique sell-side experience. having participated in the restructuring of Deutsche Bank's 65.1 billion proprietary private equity portfolio from 2003 to 2006.21 Disciplined and selective investment process • Targets attractive risk-adju
uch transactions and the efforts described in this Merncrandum in respect of the proprietary private &Key restructunng are attributable to the whole Deutsche Bar* learn rather than any individual within it There can be no assurance that the Fund will achieve es investment oldectwe or its target return Confide
's proprietary private equity pordobo Charle9 Smith and Carlo Pirao.Broli were not invoked in Si such transactions and the efforts described in this Merncrandum in respect of the proprietary private &Key restructunng are attributable to the whole Deutsche Bar* learn rather than any individual within it Ther
re than 80 deals and having screened thousands of funds over 10 years.22 • Unique sell-side experience, having participated in the restructuring of Deutsche Bank's €5.1 billion proprietary private equity portfolio from 2003 to 2006.n Disciplined and selective investment process • Targets attractive risk-adju
such transactions and the efforts described in this Merncrandum in respect or the proprietary pnvate emery restructunng are atributade to the whole Deutsche Bar* learn rather than any inandual within it Tnere can te no assurance that the Fund will achieve es investment el:tense or its target return Confident
's proprietary pnvate equity pordobo Charles Smith and Carlo PiraciBroli were not invoked in all such transactions and the efforts described in this Merncrandum in respect or the proprietary pnvate emery restructunng are atributade to the whole Deutsche Bar* learn rather than any inandual within it Tnere ca
re than 80 deals and having screened thousands of funds over 10 years.22 • Unique sell-side experience, having participated in the restructuring of Deutsche Bank's €5.1 billion proprietary private equity portfolio from 2003 to 2006.21 Disciplined and selective investment process • Targets attractive risk-adju
's proprietary private equity pordobo Charles Smith and Carlo Pirao.Broli were not invoked in Si such transactions and the effects described in this Merncrandum in respect or the proprietary private &hey restructunng are attributable to the whole Deutsche Bark team rather than any irdmdu• within it There ca
re than 80 deals and having screened thousands of funds over 10 years.22 • Unique sell-side experience. having participated in the restructuring of Deutsche Bank's 65.1 billion proprietary private equity portfolio from 2003 to 2006.21 Disciplined and selective investment process • Targets attractive risk-adju
ank's proprietary pnvate equity pordobo Charles Smith and Carlo Pirao.Broli were not invoked In Si sum transactions and the efforts described In the Merncrandum in respect of the proprietary private equty restructunng are attributable to the whole Deutsche Bark team rather than any individual wren it There
Entities connected to both Deutsche Bank and Merncrandum

Prince Charles
PERSONCharles Smith
PERSONGlendower Capital
ORGANIZATIONJoshua Glaser
PERSONDeirdre Davies
PERSONChi Cheung
PERSONthe SOF Team
ORGANIZATIONInternal Rate of Return
ORGANIZATIONthe SOF Program
ORGANIZATIONSOF H
ORGANIZATION
Larry Summers
PERSON
Josh Brolin
PERSONDeutsche Bath
ORGANIZATIONCarlo Pirao
PERSONSOF N s
ORGANIZATIONCarla Pero-Buck Charles Sonnh
PERSONCarlo Pritio
PERSON