Epstein Secrets

heir respective affiliates or any of their respective advisors, officers, directors, employees, partners or members (together with the Glendower GP, Glendower Capital, LLP and Glendower Capital (U.S.), LLC, "Glendower") for any breach of the Underlying Fund LPA. To the fullest extent permitted by law, the Access

GLDUS133 Georgetown University Endowment organized under the laws of a relevant member state (each, a "Member State) of the European Economic Area ("EEA')I when such marketing is reasonabl

ddition, pursuant to a separate agreement to be entered into between the Solicitation Agent and one or more of the Underlying Fund, Glendower GP and Glendower Capital, LLC, the Solicitation Agent will also act as placement agent for the Underlying Fund and will refer and/or introduce certain of its clients to the

GLDUS133 Georgetown University Endowment 2 Servicing Fee in respect of each DB Introduced Person will be equal to the product of the amount of such DB Introduced Person's allocable share

2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 (1; Glendower Capital own market segmentation analysis. Data source. Presin database end Glendower Capital own market intelligence as of November 2017. Includes target fund sizes for funds that are currently raising. Glendower Capital STRICTLY CONFID

GLDUS133 Georgetown University Endowment SOF Funds positioned as mid-sized value investor Below large levered beta players, above small local funds Secondary funds raised or in fundraisin

mer This confidential presentation (this °Priesentetiort"1 is being communicated to a limited number of sophisticated persons reach a 'Recipient) by Glendower Capital. LL.P ?Glendower') which is authorized and regulated by the United Kingdom Financial Conduct Aulhoiily, tor the purpose of providing certain summary

GLOUSI 33 Georgetown University Endowment Disclaimer This confidential presentation (this °Priesentetiort"1 is being communicated to a limited number of sophisticated persons reach a 'Recip

GLDUS133 Georgetown University Endowment I ntroductiont" Glendower Capital Secondary Opportunities Fund IV, LP ("SOF IV") Glendower Capital is an independent secondary private equity manager owned by its partners - Fully funded and operational since its team spun-off from Deutsche Asset

GLDUS133 Georgetown University Endowment I ntroductiont" Glendower Capital Secondary Opportunities Fund IV, LP ("SOF IV") Glendower Capital is an independent secondary private equity mana

wment Disciplined barbell approach adjusted to market cycles Dialling up / down deal types relative to segment attractiveness Description Marked Glendower Capital Deal size Expected allocation Deals since 20072 Gross returns2 SOF (harvested)3 SOF II (maturing)3 SOF III (early stage)3 Fund Secondaries GP-led

GLOUS133 Georgetown University Endowment Disciplined barbell approach adjusted to market cycles Dialling up / down deal types relative to segment attractiveness Description Marked Glend

e is 80 available to deployin Secondaries 400 60 58 300 40 • 200 2.2tit 20 100 iil MI 0 0 Dry Powder Annual Deal Volume ii) Source: Glendower Capital estintat (2) ource. Glendower C.:twit Et's!, Report 2018. Glendower Capital Secondaries Buyout a sed on Greenhil Secondary Pricing Trends

GLOUSI 33 Georgetown University Endowment Secondary market shows a balanced capitalization Strong US$bn 140 120 secondary capital supply'... 125 ... but US$bn 700 600 dry powder/de

lume 30% 14.0 9.0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 GP-led secondaries —GP-led secondaries as % of total (I; &Alice. Glendower Capital analysis based on Gueenhil Secondary Marker!' ends 3 Outlook. January 2013: and Dow Jones Private Equity Amlyst Guide to the Secondary Market, June 2

GLDUS133 Georgetown University Endowment GP-led transactions are a growing source of supply Secondary bespoke liquidity solutions are now part of the GP toolkit GP-led transactions now re

Placement Fees: Pursuant to a separate agreement to be entered into between Deutsche Bank and one or more of the Underlying Fund, Glendower GP and Glendower Capital, LLC, Deutsche Bank will also act as placement agent for the Underlying Fund and will refer and/or introduce certain of its clients to the Underlyin

GLDUS133 Georgetown University Endowment DB Placement Fee: Each DB Introduced Person will directly pay Deutsche Bank a Placement Fee (the "DB Placement Fee") in accordance with the schedu