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w Jones Ponta Equity Anahlt Gude to the Secondary Merkel. June 2011 Greenml Secondary Market Trends 8 Our
e) traded at significantly larger discounts. There is an even greater price gap for perceived 'out-of-favor funds and lower-quality managers. It is Glendower's opinion that staying focused on bottom-up fund and asset selection, often resulting in acquiring one or only a few funds from a given seller. may
ones Private Equity Analylt Gude to the Secondary Merkel. June 2011 Greenml Secondary Market Trends 8 Out
e) traded at significantly larger discounts. There is an even greater price gap for perceived -out-of-favor funds and lower-quality managers. It is Glendower's opinion that staying focused on bottom-up fund and asset selection, often resulting in acquiring one or only a few funds from a given seller. may
ones Private Equity Analyst Gude to the Secondary Merkel. June 2011 Greenns Secondary Market Trends 8 Our
e) traded at significantly larger discounts. There is an even greater price gap for perceived -out-of-favor funds and lower-quality managers. It is Glendower's opinion that staying focused on bottom-up fund and asset selection, often resulting in acquiring one or only a few funds from a given seller. may
ones Private Equity Analylt Gude to the Secondary Merkel. June 2011 Greenml Secondary Market Trends 8 Out
e) traded at significantly larger discounts. There is an even greater price gap for perceived -out-of-favor funds and lower-quality managers. It is Glendower's opinion that staying focused on bottom-up fund and asset selection, often resulting in acquiring one or only a few funds from a given seller. may
Jones Pnvate Equity Analylt Gude to the Secondary Merkel. June 2011 Greentss Secondary Market Trends 8 Ou
e) traded at significantly larger discounts. There is an even greater price gap for perceived 'out-of-favor funds and lower-quality managers. It is Glendower's opinion that staying focused on bottom-up fund and asset selection, often resulting in acquiring one or only a few funds from a given seller. may
ones Private Equity Analyst Gude to the Secondary Merkel. June 2011 Greenns Secondary Market Trends 8 Our
e) traded at significantly larger discounts. There is an even greater price gap for perceived -out-of-favor funds and lower-quality managers. It is Glendower's opinion that staying focused on bottom-up fund and asset selection, often resulting in acquiring one or only a few funds from a given seller. may
set Deal 1 1 42.0 27.4 03 17 1.0x US - Mid-Merkel buyout 35- Artemis Landed Process SWF Fund Se
OCItUr performance is not a guerartee or indicator of future results. and there can be no assurance that the Fund will achieve comparable results Glendower Capital STRICTLY CONFIDENTIAL CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0100397 SONY_GM_00246581 EFTA01394393
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