Epstein Secrets

Warren Section 1: Executive Summary Glendower Capital Secondary Opportunities Fund IV, LP Established track record19• 2° As of September 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

GLOUS144 Glenn Warren Section 1: Executive Summary Glendower Capital Secondary Opportunities Fund IV, LP Established track record19• 2° As of September 30, 2017 the SO

DPI is strong in absolute terms, compares favorably with its peers and shows strong consistency across fund vintages.28 Through September 30. 2017. the SOF Program had invested29 US$3.3 billion in 82 transactions resulting in distributions of over USS1.8 billion and had generated a 1.5x Net Multiple and a 23% N

GL0US144 Glenn Warren Section 2: Investment Performance Glendower Capital Secondary Opportunities Fund IV. LP Investment Performance Secondaries Performance Highlights

stere should ncte that while at Deutsche Asset Management the SOF Team were able to make tree of platform personnel and resources in connection with the SOF Program that wit not be avalable to the Glendower SOF Teem in connection with the management and operation of SOF ry Source Glendower Capitals proprietary

GLOUS144 Glenn Warren Section 1: Executive Summary Glendower Capital Secondary Opportunities Fund IV, LP Bespoke liquidity solutions or GP-led Secondary deals, another

their business time to the affairs of the Fund, any co-investment fund, Parallel Fund (as defined below) or Alternative Vehicle (as defined below), the SOF Program, any Complementary Fund (as defined below), any successor fund and Glendower (the 'Permitted ActivitIer). The Investment Period may be reinstated

GL0US1 44 Glenn Warren Section 6: Summary of Terms and Conditions Glendower Capital Secondary Opportunities Fund IV. LP Investment Period Reinvestment Key Person Event