Epstein Secrets

of Madrid FRANCESCO RIGAMONTI Senior Advisor Deutsche Bank, Gallo & Co. MBA, University of Chicago Booth; MA, Milan University Based in London, Deirdre is responsible for the operations of the Fund and the business. Prior to Glendower, Deirdre spent 15 years at Deutsche Bank where she was a foundi

8 2009 2010 2011 2012 2013 2014 2015 2016 2017 GP-led secondaries GP-led secondaries as % of total (1) Source: Glendower Capital analysis based on Greenhill Secondary Market Trends & Outlook, January 2018; and Dow Jones Private Equity Analyst Guide to the Secondary Market, June 2017. STRICTLY CONFIDENTIAL 35 2.7 2.7

of Madrid FRANCESCO RIGAMONTI Senior Advisor Deutsche Bank, Gallo & Co. MBA, University of Chicago Booth; MA, Milan University Based in London, Deirdre is responsible for the operations of the Fund and the business. Prior to Glendower, Deirdre spent 15 years at Deutsche Bank where she was a foundi

8 2009 2010 2011 2012 2013 2014 2015 2016 2017 GP-led secondaries GP-led secondaries as % of total (1) Source: Glendower Capital analysis based on Greenhill Secondary Market Trends & Outlook, January 2018; and Dow Jones Private Equity Analyst Guide to the Secondary Market, June 2017. STRICTLY CONFIDENTIAL 35 2.7 2.7

of Madrid FRANCESCO RIGAMONTI Senior Advisor Deutsche Bank, Gallo & Co. MBA, University of Chicago Booth; MA, Milan University Based in London, Deirdre is responsible for the operations of the Fund and the business. Prior to Glendower, Deirdre spent 15 years at Deutsche Bank where she was a foundi

8 2009 2010 2011 2012 2013 2014 2015 2016 2017 GP-led secondaries GP-led secondaries as % of total (1) Source: Glendower Capital analysis based on Greenhill Secondary Market Trends & Outlook, January 2018; and Dow Jones Private Equity Analyst Guide to the Secondary Market, June 2017. STRICTLY CONFIDENTIAL 35 2.7 2.7

of Madrid FRANCESCO RIGAMONTI Senior Advisor Deutsche Bank, Gallo & Co. MBA, University of Chicago Booth; MA, Milan University Based in London, Deirdre is responsible for the operations of the Fund and the business. Prior to Glendower, Deirdre spent 15 years at Deutsche Bank where she was a foundi

8 2009 2010 2011 2012 2013 2014 2015 2016 2017 GP-led secondaries GP-led secondaries as % of total (1) Source: Glendower Capital analysis based on Greenhill Secondary Market Trends & Outlook, January 2018; and Dow Jones Private Equity Analyst Guide to the Secondary Market, June 2017. STRICTLY CONFIDENTIAL 35 2.7 2.7