0 58 300 40 • 200 ••• a:, 2.2s 4, 20 100 ill ill 0 0 Dry Powder Annual Deal Volume it) Source: Glendower Capital estirr (2? $ource- Glendovier Cads€ etsl, Report 2018. Glendower Capital Secondaries Buyout a sed on Greenhill Secondary Pricing Trends & Analysis. January 2018. on 2018