5 ... but US$bn 700 600 dry powder/deal volume remains balanced2 Dry Powder 3.7x • Deal volume (*.„,"' Cry Fbw der., Deal Volume 100 - 500 GlendowerCapital estimates that 2.2x annual deal volume is 80 available to deployin Secondaries 400 60 58 300 40 • 200 1.1, 2.2x 20 100 iil MI 0 0 Dry

125 ... but US$bn 700 600 dry powder/deal volume remains balanced2 Dry Powder 3.7x • Deal volume <1- Cry Fbw der., Deal Volurre 100 - 500 GlendowerCapital estimates that 2.2x annual deal volume is 80 available to deployin Secondaries 400 60 58 300 40 • 200 ••• a:, 2.2s 20 100 ill ill 0

t dry powder/deal volume remains balanced2 US$bn 140 700 125 Dry Powder 3.7x 120 600 • Deal volume <1- Cry Fbw der Deal Volurre 100 - 500 GlendowerCapital estimates that 2.2x annual deal volume is 80 available to deployin Secondaries 400 60 58 300 40 • 200 ••• 1: 2.2x 20 100 iil MI 0 0

. ... but US$bn 700 125 600 dry powder/deal volume remains balanced2 Dry Powder 3.7x • Deal volume <1- Cry Fbw der Deal Volume 100 - 500 GlendowerCapital estimates that 2.2x annual deal volume is 80 available to deployin Secondaries 400 60 58 300 40 • 200 ••• a:, 2.2s 4, 20 100 iil MI

. 125 ... but US$bn 700 600 dry powder/deal volume remains balanced2 Dry Powder 3.7x • Deal volume <1- Cry Fbw der Deal Volume 100 - 500 GlendowerCapital estimates that 2.2x annual deal volume is 80 available to deployin Secondaries 400 60 58 300 40 • 200 ••• 1: 2.2x 20 100 iil MI 0 0

but US$bn 700 dry powder/deal volume remains balanced2 125 Dry Powder 3.7x 120 600 • Deal volume <1- Cry Fbw der! Deal Volume 100 - 500 GlendowerCapital estimates that 2.2x annual deal volume is 80 available to deployin Secondaries 400 60 58 300 40 • 200 ••• a:, 2.2x 20 100 ill ill ril

. 125 ... but US$bn 700 600 dry powder/deal volume remains balanced2 Dry Powder 3.7x • Deal volume <1- Cry Fbw der Deal Volume 100 - 500 GlendowerCapital estimates that 2.2x annual deal volume is 80 available to deployin Secondaries 400 60 58 300 40 • 200 ••• a:, 2.2s 4, 20 100 ill ill

. 125 ... but US$bn 700 600 dry powder/deal volume remains balanced2 Dry Powder 3.7x • Deal volume <1- Cry Fbw der Deal Volume 100 - 500 GlendowerCapital estimates that 2.2x annual deal volume is 80 available to deployin Secondaries 400 60 58 300 40 • 200 ••• a:, 2.2x 20 100 ill ill 0

. 125 ... but US$bn 700 600 dry powder/deal volume remains balanced2 Dry Powder 3.7x • Deal volume <1- Cry Powder! Deal Volume 100 - 500 GlendowerCapital estimates that 2.2x annual deal volume is 80 available to deployin Secondaries 400 60 58 300 40 • 200 ••• a:, 2.2s 4, 20 100 ill ill

125 ... but US$bn 700 600 dry powder/deal volume remains balanced2 Dry Powder 3.7x • Deal volume <1- Cry Fbw der Deal Volurre 100 - 500 GlendowerCapital estimates that 2.2x annual deal volume is 80 available to deployin Secondaries 400 60 58 300 40 • 200 ••• a:, 2.2s 4, 20 100 ill ill

. 125 ... but US$bn 700 600 dry powder/deal volume remains balanced2 Dry Powder 3.7x • Deal volume <1- Cry Fbw der Deal Volume 100 - 500 GlendowerCapital estimates that 2.2x annual deal volume is 80 available to deployin Secondaries 400 60 58 300 40 • 200 a:, 2.2s 4, 20 100 ill ill 0

125 ... but US$bn 700 600 dry powder/deal volume remains balanced2 Dry Potterer 3.7x • Deal volume <1- Cry Pow der! Deal Volume 100 - 500 GlendowerCapital estimates that 2.2x annual deal volume is 80 available to deployin Secondaries 400 60 58 300 40 • 200 •••• a:, 2.2s 4, 20 100 ill il

... but US$bn 700 125 600 dry powder/deal volume remains balanced2 Dry Powder 3.7x • Deal volume <1- Cry Fbw der Deal Volurre 100 - 500 GlendowerCapital estimates that 2.2x annual deal volume is 80 available to deployin Secondaries 400 60 58 300 40 • 200 •••• a:, 2 20 100 ill ill rill

apitalization Strong secondary capital supply'... ... but dry powder/deal volume remains balanced2 US$bn 140 120 100 - 80 60 40 • 20 0 125 GlendowerCapital estimates that 2.2x annual deal volume is available to deployin Secondaries 58 Dry Powder Annual Deal Volume it) Source: Glendower Capital esti

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