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EFTA01354875
009 2010 2011 2012 2013 2014 2015 2016 2017 GP-led secondaries —GP-led secondaries as % of total (1) Sd-Am ce. Glendower Capital analysis based on Greenhil Secondary Market !' eay.ls. 3 Outlook. January 201 S; and Dow Jones Private Equity Anislyst Guide to the Secondary Market, June 2917 Glendower Capital STRICTLY
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