Epstein Secrets

Hirsch Section 1: Executive Summary Glendower Capital Secondary Opportunities Fund IV. LP Established track record"• 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

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

vestors should note that while at Deutsche Asset Managernent. the SOF Team were able to make use of madam personnel and resources in connection with the SOF Program that wit not be avaraue to the Glendower SOF Team in connedaon with the management and operation of SOF W Source. Glendower Capitals proprietary ir

GLOUS140 Lawrence Hirsch Section 1: Executive Suawnary Glendower Capital Secondary Opportunities Fund IV. LP Bespoke liquidity solutions or GP-led Secondary deals, another

GLDUS140 Lawrence Hirsch Section 2: Investment Performance Glendower Capital Secondary Opportunities Fund IV, LP Lastly, in Exhibit 5 the SOF Program is compared against public market indexes including the MCSI World Index. Russell 2000 Index and the Thomson Reuters Private Equity Buyout Index. In

GLDUS140 Lawrence Hirsch Section 2: Investment Performance Glendower Capital Secondary Opportunities Fund IV, LP Lastly, in Exhibit 5 the SOF Program is compared against p

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

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

estors Would note that while et Deutsche Asset Management. the SOF Team wet able to mike use of catirtorm personnel and resources in connection with the SOF Program that win not be available to the Glendowei SOF learn in connection wah the maregement and operation od SOF IV Past performance of the SCE Funds is

GLDUSI40 Lawrence Hirsch Section 4. Glendower Capital Secondary Opportunities Fund IV. LP Glendower Capital Secondary Opportunities Fund IV. LP Glendower Capital Secondary

eturns for the Fund by allocating capital to what the Manager considers to be the best investment opportunities on a global basis. Since inception, the SOF Program has benefitted from a diversified pool of sellers as well as assets. More specifically: • The secondary investments represented in the SOF Funds ar

GLDUS140 Lawrence Hirsch Section 4. Glendower Capital Secondary Opportunities Fund IV. LP Glendower Capital Secondary Opportunities Fund IV. LP The Manager believes it wil

inveetas should note that while at Deutsche Asset Management the SOF Team were able to make use of platform personnel and !maces in connection with the SOF Program that wit not be awelable to the Glendower SCF Team in connoaco with the management and operation of SOF IV Francesco Rmamorti win act m a senior se

GLOUS140 Lawrence Hirsch Section 5 Fund Management Glendower Capital Secondary Oppodundies Fund IV. LP Fund Management Glendower Capital Glendower Capital is an independ

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 Activities'). The Investment Period may be reinstated

GL0US140 Lawrence Hirsch Section 6: Summary of Terms and Conditions Glendower Capital Secondary Opportunities Fund IV. LP Investment Period Reinvestment Key Person Event