ty kind sponsors (each such co-investment, a 'Single Asset Dear). SOF IV will be the fourth dedicated secondary fund led by Carlo Pirzio-Biroli and Charles Smith (the 'Managing Partners") and invested by Glendower Capital's team of investment professionals. As described in *History (immediately below), this

lified professional engineer. Carlo holds an MBA from Columbia Business School and an MSc in Civil Engineering from the University of Rome. Italy. Charles Smith (49), Managing Partner and Chief investment Officer. Based in London. Charles is a Managing Partner & Chief Investment Officer of Glendower Capital.

n 2013 rt Source Glendower Gaiters proprietary "OrattiOn The Deutsche Bark proprietary private equty restructunng took place between 2003 and 2006 Charles Smith and Carlo Pirtioardi played a rote alongside Sher Deutsche Bank cdleagues in the transactions that contributed to the disposition ot Deutsche Bank's

ount equal to the aggregate Commitments Investor A qualified prospective investor in the Fund IRS The U.S. Internal Revenue Service Key Persons Charles Smith. Carlo Pazio.Biroh. Adam Graev and Chi Cheung (and their replacements). LIBOR London Interbank Offered Rate. Limited Partner A limited partner of

ennower, wheri the from; were employee( of Ciectscp,.; Bank. in evaluating the tract. leceetl, e..e.ti Recipient Estee that f*t>lo Pirwirrearoli and Charles Smith have been permanent voting nwrnber.: of the sof Funds irwestment committees sireet.ce ires; fa) f hi Cheting, Francesco higanionti ant Acarn Greer h

eral Electric; The Boston Consulting Group Deirdny Davies 0 Parther, COO —London Deutsche Bank; ABNAmra; KPMG • Relevant Years of experience Charles Smith 0 as. 717 Managing Partner, OO—London Deutsche Bank; Bunkers Trust; Coopers & Lybrand Ada m Graev 0' Partner —Newyork Deutsche Bank; Pomona;

blished operational processes - Integrated, self-contained processes - Developed by the Team over 10 years Team's history Carlo Pirzio-Biroli. Charles Smith. Chi Cheung, Deirdre Davies & Francesco Rigamonti start working together to Team Tearn Team restructure USS6bn raises raises raises Deut

sociate, London 2 years with the team Louise Schoeman 0 6 CA .> Vice President, Finance. London Repined team in 2017 Glendower Capital Charles Smith 0 Managing Partner, CIO - London Deulsone Bank; Bankers Trust: Coopers 8 Lybrand hiA, Cambridge Uneen.it,i; ALMA Joshua Glaser O Partner, Clie

of Glendower. when the team were employees of Deutsche Bank In evaluating the track record. each Recipient should note that Carlo Pirzio-Bircai and Charles Smith have been permanent voting Inembers of the SOP Funds investment comnettees since inception: (ii) Chi Cheung. Francesco Rigamonti and Adam Graev have

ty kind sponsors (each such co-investment, a 'Single Asset Dear). SOF IV will be the fourth dedicated secondary fund led by Carlo Pirzio-Biroli and Charles Smith (the 'Managing Partners") and invested by Glendower Capital's team of investment professionals. As described in *History' (immediately below), thi

d by the secondary opportunities team that spun-out from Deutsche Asset Management on August 1, 2017. The senior team led by Carlo Pirzio-Biroli and Charles Smith has worked together for 15 years at Deutsche Bank in its asset management division. The secondaries business. co-founded by Carlo and Charles in 200

drawings of the General Partner's Share (as defined below) or pay organizational expenses or Fund expenses. The Fund's initial key persons will be Charles Smith. Carlo Pirzioaroli, Adam Graev and Chi Cheung (with such persons, and any replacement key persons, being the 'Key Persons"). The General Partner ma

lified professional engineer. Carlo holds an MBA from Columbia Business School and an MSc in Civil Engineering from the University of Rome. Italy. Charles Smith (49), Managing Partner and Chief investment Officer. Based in London. Charles is a Managing Partner & Chief Investment Officer of Glendower Capital.

ount equal to the aggregate Commitments Investor A qualified prospective investor in the Fund IRS The U.S. Internal Revenue Service Key Persons Charles Smith. Carlo Pirzio-Biroli. Adam Graev and Chi Cheung (and their replacements). LIBOR London Interbank Offered Rate. Limited Partner A limited partner

eral Electric; The Boston Consulting Group Deirdny Davies 0 Parther, COO —London Deutsche Bank; ABNAmra; KPMG • Relevant Years of experience Charles Smith 0 as. 717 Managing Partner, OO—London Deutsche Bank; Bunkers Trust; Coopers & Lybrand Ada m Graev 0' Partner —Newyork Deutsche Bank; Pomona;

housands of funds over 10 years - Integrated, self-contained processes - Developed by the Team over 10 years Team's history Carlo Pirzio-Biroli. Charles Smith. Chi Cheung, Deirdre Davies & Francesco Rigamonti start working together to earn Tears Team restructure US$6bn raises raises raises Deut

ennower, wheri the from; were employee( of Ciectscp,.; Bank. in evaluating the tract. leceetl, e..e.ti Recipient Estee that f*t>lo Pirwirrearoli and Charles Smith have been permanent voting nwrnber.: of the sof Funds irwestment committees sireet.ce ires; fa) f hi Cheting, Francesco higanionti ant Acarn Greer h

0* Associate, London 2 years with the team Louise Schoeman 0 6 Vice President, Finance. London Re-pined team in 2017 Glendower Capital Charles Smith 0 Managing Partner, CIO - London Deutsche Bank; Bankers Trust: Coopers 8 Lybrand .IA. Cambridge Unrieney, ALMA Joshua Glaser Of Partner, Clien

Glendower. when the team were employees of Deutsche Bank In evaluating the track record. each Recipient should note that (i) Carlo Pirzio-Bircai and Charles Smith have been permanent voting In-embers of the SOP Funds investment comnettees since inception: (ii) Chi Cheung. Francesco Rigamonti and Adam Graev hav

¢ St. Thomas Jennie V. Douglas Egbert Evanson Slyvia Agatha Hyacinth.... Oct. 29, 2012 Neville Lee Louis V. Murray Freddy N. Sanchez Andre Tanise Charles Smith Jemilia Vergara John Weeks Sr. ........00 lva Williams Karimah Williams Greaux, until her passing. She is survived by her sister, Virginia Gonzale