Epstein Secrets

ber 30, 2017 the SOF Program has delivered a strong performance with aggregate gross performance since inception of 1.6x gross multiple and 28% IRR (Internal Rate of Return) and 1.5x TVPI (Total Value to Paid-in Capital), 0.9x DPI (Distributions to Paid-in Capital) and 23% Net IRR to investors. More specifically: • SO

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

gregate at each deal at closing and may include seine dcubre counong TVPI = Taal Vdue to Paid in Capital. DPI = Dsoitutons to Peel in Capital. IRR = Internal Rate of Return Confidential Pin ate Placement Memorandum 8 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 100614 CONFIDENTIAL SDNY_GM_00246798 EF

GLDUS140 Lawrence Hirsch Section 2: Investment Performance Glendower Capital Secondary Opportunities Fund fV, LP Investment Performance Secondaries Performance Highlights

ewer/A of &wig deal at ?Amax! Leal may some double courting. 1VPI M Total Value to Paid in Capital; DPI it Distributions to Paid in Capital: IRR r Internal Rate of Return. Glendower Capital STRICTLY CONFIDENTIAL 16 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0100794 CONFIDENTIAL SDNY_GM_0024697

GLIDL1S140 Lawrence Hirsch Established track record SOF Funds as of September 30, 2017A 2 3 Fund SOF Vintage 2006 (development stage) (harvesting) SOF D 2010 (harvest