Epstein Secrets

ant downside protection through securities owned (senior, PIK preferred and structured notes) • GP known to SOF Team through prior fund investment Laurel (SOF II & SOF III) US$147m 24% 11 fund 33 assets Europe Southern European bank • Motivated, distressed sole LP seeking to divest its capti

in Capital; IRR = Internal Rate of Return. STRICTLY CONFIDENTIAL 16 EFTA01398169 Greg Martin Consistent top returns among peers SOF Funds vs Cambridge Associates' secondary funds performance1,2,3 Secondary funds: Net IRR4 to limited partners Lower Quartile 10% 15% 20% 25% 30% 35% 40% 45% 50% 0% 5%

ant downside protection through securities owned (senior, PIK preferred and structured notes) • GP known to SOF Team through prior fund investment Laurel (SOF II & SOF III) US$147m 24% 11 fund 33 assets Europe Southern European bank • Motivated, distressed sole LP seeking to divest its capti

ernal Rate of Return. STRICTLY CONFIDENTIAL 16 EFTA01396809 GLDUS126 Pacific Life Insurance Co Consistent top returns among peers SOF Funds vs Cambridge Associates' secondary funds performance1,2,3 Secondary funds: Net IRR4 to limited partners Lower Quartile 10% 15% 20% 25% 30% 35% 40% 45% 50% 0% 5%

ant downside protection through securities owned (senior, PIK preferred and structured notes) • GP known to SOF Team through prior fund investment Laurel (SOF II & SOF III) US$147m 24% 11 fund 33 assets Europe Southern European bank • Motivated, distressed sole LP seeking to divest its capti

RR = Internal Rate of Return. STRICTLY CONFIDENTIAL 16 EFTA01397482 GLDUS127 Annandale Capital Consistent top returns among peers SOF Funds vs Cambridge Associates' secondary funds performance1,2,3 Secondary funds: Net IRR4 to limited partners Lower Quartile 10% 15% 20% 25% 30% 35% 40% 45% 50% 0% 5%

ant downside protection through securities owned (senior, PIK preferred and structured notes) • GP known to SOF Team through prior fund investment Laurel (SOF II & SOF III) US$147m 24% 11 fund 33 assets Europe Southern European bank • Motivated, distressed sole LP seeking to divest its capti

tal; IRR = Internal Rate of Return. STRICTLY CONFIDENTIAL 16 EFTA01396132 GLDUS125 Gerald Ford Consistent top returns among peers SOF Funds vs Cambridge Associates' secondary funds performance1,2,3 Secondary funds: Net IRR4 to limited partners Lower Quartile 10% 15% 20% 25% 30% 35% 40% 45% 50% 0% 5%