Cliff Wig iCapital Advisors, LLC Form ADV Part 2A consistent with the Code of Ethics: and Employees should not take inappropriate advantage of their positi

GLDUS113 Cliff Wig Glendower Capital Secondary Opportunities Fund N. LP Section 1: Executive Summary Confidential Prnrate Placement Memorandum 1 CONFIDENTIAL - PUR

GLDUS113 Cliff Wig Section 7: Risk Factors Glendower Capital Secondary Opportunities Fund IV. LP may be materially different from the forward looking information TH

GLDUS113 Cliff Wig Glendower Capital Secondary Opportunities Fund IV. LP Appendix 4 Key Definitions 25° Test As defined in Section 9 Certain Legal. ERISA and Tax C

GLDUS113 Cliff Wig Glendower Capital Secondary Opportunities Fund IV. LP Fund Advisory The advisory committee. comprising representatives of certain Limited Partners

GLDUS113 Cliff Wig Glendower Capital Secondary Opportunities Fund IV. LP Investment Period The period from the First Closing until the end of the quarter following t

GLOUS113 Cliff Wig Fund Secondaries transactions liustrative case studies Ta Zi Project / Fund Deal Size / Discounts Funds I assets / region Seller Descripti

GLOUS113 Cliff Wig Secondary market shows a balanced capitalization Strong US$bn 140 120 secondary capital supply'... 125 ... but US$bn 700 600 dry powder/de

GL0USI13 Cliff Wig Significant unrealized value still locked in tail-end funds Seller composition expected to remain diverse Unrealized PE value: US$600bn in pre-cri

GL0US113 Cliff Wig SOF Ill Portfolio - Highlights Gross invested capital breakdown Overview Investment strategy Vintage 2014 Fund size US$1.654m Gross invested