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d group liability purposes as engaging in a "trade or business" (the "2013 Sun Capital Case"). Further, in March 2016, the U.S. District Court for the District of Massachusetts held that affiliated private equity funds investing in the same portfolio company may form a "partnership-in- fact." The District Court found that
be based on imperfect information and is subject to inherent uncertainties. Proprietary and Confidential 23 EFTA01395810 GLDUS125 Gerald Ford Fidelity Relationship. The Investment Manager has entered into collaboration and services agreements with Fidelity Brokerage Services LLC and National Financial Services
d group liability purposes as engaging in a "trade or business" (the "2013 Sun Capital Case"). Further, in March 2016, the U.S. District Court for the District of Massachusetts held that affiliated private equity funds investing in the same portfolio company may form a "partnership-in- fact." The District Court found that
based on imperfect information and is subject to inherent uncertainties. Proprietary and Confidential 23 EFTA01395346 GLDUS143 Henry Nicholas Fidelity Relationship. The Investment Manager has entered into collaboration and services agreements with Fidelity Brokerage Services LLC and National Financial Services
d group liability purposes as engaging in a "trade or business" (the "2013 Sun Capital Case"). Further, in March 2016, the U.S. District Court for the District of Massachusetts held that affiliated private equity funds investing in the same portfolio company may form a "partnership-in- fact." The District Court found that
sed on imperfect information and is subject to inherent uncertainties. Proprietary and Confidential 23 EFTA01397047 GLDUS127 Annandale Capital Fidelity Relationship. The Investment Manager has entered into collaboration and services agreements with Fidelity Brokerage Services LLC and National Financial Services
Entities connected to both the District of Massachusetts and Fidelity Relationship

United States District Court
ORGANIZATIONthe First Circuit
ORGANIZATIONGlendower
LOCATIONInvestment Concentration
ORGANIZATIONAccess Fund
ORGANIZATION
United States
LOCATION
Fidelity
ORGANIZATIONNational Financial Services
ORGANIZATIONFidelity Brokerage Services
ORGANIZATIONiCapital
ORGANIZATIONInstitutional Capital Network, Inc.
ORGANIZATION
U.S. Virgin Islands
LOCATIONthe District of Columbia
LOCATION
United Kingdom
LOCATION
Eric Holder
PERSON
Paul Volcker
PERSON
Norway
LOCATION
Hungary
LOCATION
Belgium
LOCATION
Estonia
LOCATION