document_description: This document provides information about John C. Robertshaw's educational background, business experience, disciplinary information, other business activities, additional compensation, and supervision. Mr. Robertshaw is a Special Advisor to iCapital Network and has a history of working with Credit Suisse and Donaldson, Lufkin & Jenrette. He has not been subject to any material legal or disciplinary events.

title: Form ADV Part 2B for John C. Robertshaw

key_people:
John C. Robertshaw
Michael Stanton

key_organizations:
iCapital Advisors LLC
iCapital Network
Credit Suisse Securities (USA) LLC
Donaldson, Lufkin & Jenrette
Salomon Brothers


source: doj

document_description: This document provides the educational background, business experience, and other relevant information about Nicholas Veronis, a member of iCapital Advisor's investment committee and Co-Founder of iCapital Network. It includes details about his previous roles, disciplinary information, other business activities, additional compensation, and supervision.

title: Form ADV Part 2B for Nicholas Veronis

key_people:
Nicholas Veronis
Michael Stanton

document_type: financial

document_subtype: Form ADV Part 2B

key_organizations:
iCapital Advisors LLC
iCapital Network
Veronis Suhler Stevenson
Atlas Advisors
The Boston Business Journal
The Star-Ledger
Newhouse Newspapers


document_description: This document is the amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P., a Delaware Limited Partnership. It outlines the terms and conditions under which the limited partner interests are held, including restrictions on transferability and resale, and the requirement for general partner consent for any transfer of interests.

title: Amended and Restated Limited Partnership Agreement of Glendower Access Secondary Opportunities IV (U.S.), L.P.

document_type: legal

document_subtype: Limited Partnership Agreement


document_description: This document is the amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes definitions, organization and powers, details about partners, investments and activities, fees and expenses, and capital of the partnership.

title: Glendower Access Secondary Opportunities IV (U.S.), L.P. Amended and Restated Limited Partnership Agreement


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes articles on default, distributions, capital accounts, duration of the partnership, liquidation of assets, and limitations on transfers and withdrawals.

title: Amended and Restated Limited Partnership Agreement

document_type: tabular


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes articles on exculpation and indemnification, amendments, voting and consents, and administrative provisions. The document outlines the rights and responsibilities of partners, financial reporting requirements, and tax provisions.


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P., dated April 11, 2018. It outlines the continuation of the partnership under the Delaware Revised Uniform Limited Partnership Act, the withdrawal of the Initial Limited Partner, and the admission of additional Limited Partners.

key_people:
General Partner
Initial Limited Partner

document_subtype: Amended and Restated Limited Partnership Agreement

key_organizations: Glendower Access Secondary Opportunities IV GP LLC


document_description: This document outlines the terms and conditions of the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes details about the partnership's name, offices, purpose, powers, and the roles and responsibilities of the partners. The partnership is primarily focused on making, holding, and disposing of investments in the Underlying Fund. The document also specifies the limited liability of the partners and the conditions under which they are required to contribute capital.

key_locations: Corporation Trust Center, 1209 Orange Street, Wilmington, County of New Castle, Delaware


document_description: The document outlines the financial terms and conditions for Additional Limited Partners in the Southern Financial LLC's investment fund. It details the contributions required from new partners, including management fees and interest-equivalent amounts, and how these contributions are allocated. The document also discusses the accession process for new partners and adjustments to capital accounts and distributions.

key_organizations: Glendower Access Secondary Opportunities IV (U.S.), L.P.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the rights and responsibilities of the General Partner, including the authority to release confidential information to governmental authorities, amend the agreement to comply with anti-money laundering laws, and manage the partnership's affairs. The General Partner has exclusive control over the partnership's management and decision-making processes.


document_description: The document outlines provisions for alternative investment vehicles within a partnership agreement. It allows the General Partner to structure investments outside the Partnership for legal, tax, or regulatory reasons, using alternative investment vehicles. These vehicles will operate in parallel with or in lieu of the Partnership. Limited Partners may be required to make capital contributions to these vehicles, which will be treated as if made to the Partnership. The economic provisions aim to ensure that all parties receive the same allocations and distributions as if all transactions occurred within the Partnership.


document_description: The document outlines the terms and conditions related to allocations, distributions, and transfers of interests in an Alternative Investment Vehicle associated with Southern Financial LLC. It specifies the responsibilities of Limited Partners, the role of the General Partner, and the treatment of defaulting partners. The document also discusses the economic terms and legal considerations for the Partnership and Alternative Investment Vehicles, emphasizing their separate entity status for tax purposes.


document_description: The document outlines the terms and conditions of a partnership agreement for Southern Financial LLC, including provisions for partnership expenses, parallel access funds, investment guidelines, borrowings, and ERISA compliance. It details the formation of parallel access funds or feeder funds to comply with securities laws and address tax, legal, and regulatory issues. The document also covers investment guidelines, credit facilities, and efforts to comply with ERISA regulations.

document_subtype: Partnership Agreement


document_description: This document outlines the expenses and financial responsibilities of Limited Partners in the Southern Financial LLC partnership. It details the allocation of Partnership Expenses, including travel, research, insurance, and legal fees, among others. The document specifies how expenses are shared between the Partnership and any Parallel Access Funds, and the conditions under which Limited Partners contribute to these expenses.

key_people:
General Partner
Investment Manager


document_description: This document outlines the financial responsibilities and management fee structure for Limited Partners in the partnership managed by Southern Financial LLC. It specifies how tax-related expenses and management fees are allocated among Limited Partners based on their subscription amounts and investment periods.

key_people:
General Partner
Limited Partner


document_description: This document outlines the terms and conditions of the partnership agreement for Southern Financial LLC, including management fees, timing of payments, and capital contributions. It specifies the interest rates applicable to unpaid management fees, the timing of management fee payments, and the obligations of partners to contribute capital. The agreement also details the process for initial capital contributions and the conditions under which the investment manager may waive or reduce management fees.

key_people:
Investment Manager
General Partner


document_description: The document outlines the procedures and conditions under which Southern Financial LLC's General Partner can call for capital contributions from Limited Partners. It includes provisions for additional contributions, deficiency drawdowns, notice procedures, offsets against distributions, and the authority to reduce subscriptions. It also addresses the return of unused contributions.

key_organizations: Glendower Accent Secondary Opportunities IV (U.S.), L.P.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the procedures for the return of capital contributions upon the admission of an additional partner, the effect of such returns, and the consequences of failing to make required payments. It includes provisions for interest on unpaid contributions and adjustments to partners' accounts.


document_description: This document outlines the terms and conditions related to default by a Limited Partner in a partnership agreement. It specifies the actions that the General Partner may take in the event of a default, including designating a partner as a 'Defaulting Partner', enforcing capital contributions, and pursuing legal remedies. The document also discusses the consequences of a default, such as prohibiting future capital calls and compulsory redemption of the Defaulting Partner's interest.


document_description: The document outlines the rights and remedies available to the Investment Manager and/or General Partner in the event of a partner defaulting on their obligations in the partnership. It includes measures such as compulsory transfer of the defaulting partner's interest, reduction of unpaid subscriptions, forced sale of interest, acceptance of late contributions with interest, and legal actions to recover unpaid contributions and damages.


document_description: This document outlines the terms and conditions related to the handling of capital call defaults within the partnership, specifically addressing the roles and responsibilities of the General Partner and Limited Partners in the event of a default. It includes provisions for assigning partner contributions and the treatment of defaulting partners.


document_description: This document outlines the operational rules and distribution policies for Southern Financial LLC, specifically focusing on the treatment of distributions to partners, special distributions, and the payment of taxes. It details how distributions are handled for defaulting partners, the allocation of net income and gains, and the partnership's obligations regarding tax liabilities.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the financial allocations and adjustments related to partners' capital accounts, net gains, and losses. The document specifies the timing and compliance of these allocations with Treasury Regulations, and details the methodology for distributing net gains or losses among partners.


document_description: This document outlines the special allocations of items of loss or deduction, allocations following a default, and the admission of additional partners for the partnership. It specifies how items of loss or expense, transfer expenses, and management fee deductions are allocated among partners. It also details the allocation of partner interest and delayed payment interest, and the adjustments required when new partners are admitted or existing subscriptions are increased.


document_description: This document outlines the terms and conditions for the duration and dissolution of a partnership under Southern Financial LLC. It specifies the term of the partnership, conditions for dissolution upon withdrawal of the General Partner, and procedures for liquidation of assets upon dissolution.

key_people:
General Partner
Limited Partners

key_organizations: Glendower Acceto Secondary Opportunities IV (U.S.) L.P.


document_description: This document outlines the conditions under which a Limited Partner's interest in the Partnership can be transferred. It specifies the need for the General Partner's consent for any transfer, restrictions on public trading of partnership interests, and the requirement for certain representations by parties involved in a transfer. The document also addresses the non-recognition of certain transfers unless specific conditions are met.


document_description: This document is an excerpt from a partnership agreement for Southern Financial LLC, detailing conditions and restrictions on the transfer of partnership interests. It outlines the responsibilities of transferring partners and transferees, including compliance with Section 1446(f) of the Code and other legal requirements. The document also lists prohibited legal consequences that would prevent a transfer, such as causing the partnership's assets to become 'plan assets' under ERISA or resulting in a non-exempt prohibited transaction.

key_organizations: Glendower Accetec Secondary Opportunities IV (U.S.), L.P.


document_description: This document outlines the terms and conditions related to the transfer of partnership interests in Glendower Access Secondary Opportunities IV (U.S.), L.P. It specifies the requirements for a transferee to be considered an accredited investor, qualified purchaser, and qualified client. It also details the need for a legal opinion for transfers, reimbursement of transfer expenses, and the admission of substituted limited partners.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions on look-through treatment, exculpation, and indemnification of Covered Persons, defining their liabilities and protections under the agreement.


document_description: This document outlines the indemnification provisions for Covered Persons and other parties associated with the partnership. It specifies the conditions under which indemnification is provided, limitations on indemnification, and the process for advance payment of expenses. The agreement also details the responsibilities and protections for individuals serving in various capacities within or on behalf of the partnership.

title: Glenodwer Access Secondary Opportunities IV (U.S.), L.P. Amended and Restated Limited Partnership Agreement


document_description: This document outlines the indemnification and liability limitations for the partnership, including conditions under which partners may be required to return distributions. It specifies the discretionary powers of the General Partner to limit indemnification and the impact of legal restrictions on indemnification provisions.


document_description: This document outlines the procedures and conditions under which amendments to the partnership agreement of Southern Financial LLC can be made. It specifies the consent requirements for amendments, particularly those affecting partners' economic rights and ERISA provisions. It also details the notification process for amendments and the concept of negative consent.

document_subtype: Partnership Agreement Amendment


document_description: This document is an amended and ratified limited partnership agreement for Glendower Accetec Secondary Opportunities IV (U.S.), L.P. It outlines the procedures for obtaining consents and approvals from limited partners, voting and consent requirements, and administrative provisions for keeping accounts and records. The document specifies that the General Partner can send notices to Limited Partners for consent requests and that non-objecting partners are deemed to have consented. It also details the maintenance of books and records by the General Partner and the confidentiality of certain information.


document_description: The document outlines the financial reporting obligations of the General Partner to the Limited Partners in a partnership. It includes details on the filing of the Certificate of Limited Partnership, the preparation and transmission of annual financial statements and tax information, and the provision of quarterly reports. It also mentions the limitations on information rights for Limited Partners compared to direct limited partners of the Underlying Fund.


document_description: This document outlines the valuation procedures for partnership assets, including freely tradable securities, other assets, and intangible assets. It specifies the methods for determining fair market value and the treatment of goodwill. It also details the protocol for notices and communications among partners.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines provisions related to notices, accounting, and tax matters for the partnership. Notices are to be sent to partners as specified, with certain conditions for electronic delivery. The fiscal year is defined, and the selection of independent accountants is described. Tax provisions ensure the partnership is treated as a partnership for U.S. federal income tax purposes, with specific roles and responsibilities for the General Partner and Tax Matters Partner.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the responsibilities and designations of the General Partner as the 'partnership representative' under the BBA, the obligations of the Partners regarding tax compliance, and the financial responsibilities related to partnership tax audits. It also includes provisions for the sharing of costs and the reliance on tax advisors.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the obligations of Limited Partners regarding compliance with FATCA and Section 1045 of the Internal Revenue Code. Limited Partners must provide necessary information for FATCA compliance and may face consequences if they fail to comply. The document also specifies that the Partnership is not required to elect Section 1045 rollovers or comply with related tax reporting requirements.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines various tax-related provisions and obligations for Limited Partners, including restrictions on elections under certain sections of the Internal Revenue Code, requirements for cooperation with tax reporting, and reimbursement obligations for expenses related to tax basis adjustments. It also includes a power of attorney clause appointing the General Partner as attorney-in-fact for certain legal actions.


document_description: This document outlines the confidentiality obligations of Limited Partners regarding Partnership Information, which is considered a valuable trade secret. It specifies conditions under which disclosure is permitted, such as to professional advisors or under legal compulsion, and the procedures to follow in such cases.

document_type: correspondence

document_subtype: confidential agreement


document_description: This document is an amended and restated limited partnership agreement for Glendower Accetcc Secondary Opportunities IV (U.S.), L.P. It outlines confidentiality obligations, the rights of the General Partner to withhold information, and the remedies available for breaches of confidentiality. It also includes provisions for contract construction and the survival of confidentiality obligations after a partner's withdrawal.


document_description: This document is an Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the terms and conditions under which the partnership operates, including arbitration procedures, the use of side letters, and the entire agreement clause. It also includes provisions for handling 'bad actor' disqualifications under Rule 506(d) of the Securities Act.


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions related to a 20% Holder's certification or recertification to the General Partner regarding their status as a non-Bad Actor.


document_description: This document is an Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes the execution by the General Partner and Limited Partners, with Thomas Fortin as COO signing on behalf of Institutional Capital Network, Inc. Michael Stanton is noted as the Initial Limited Partner who is withdrawing.

key_people:
Thomas Fortin
Michael Stanton


document_description: This document is an appendix to the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities W (U.S.), L.P. It contains definitions of terms used in the agreement, such as '20% Holder', 'Access Fund Default', 'Administrator', and others. The document is marked as proprietary and confidential.

title: Glendower Access Secondary Opportunities W (U.S.), L.P. - Amended and Restated Limited Partnership Agreement


document_description: This document is a proprietary and confidential amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes definitions and terms related to business days, capital accounts, carrying value, contributions, covered company partners, and other financial terms.

title: Glendower Access Secondary Opportunities IV (U.S.), L.P. 1-2 Amended and Restated Limited Partnership Agreement


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the terms and conditions under which the partnership operates, including definitions of key terms such as Freely Tradable Securities, General Partner, Indemnitee, and others. The agreement also specifies the roles of the General Partner and Limited Partners, and includes references to relevant securities laws and acts.


document_description: This document outlines the terms and definitions related to the partnership agreement for Glendower Access Secondary Opportunities IV (International), L.P., a Cayman Islands exempted limited partnership. It includes definitions for terms such as Offshore Access Fund, Organizational Expenses, Parallel Access Fund, Partner Interest, and others. The document is proprietary and confidential, and it is related to the financial operations and organizational structure of the partnership.


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes definitions and terms related to capital calls, management fees, and various financial and legal terms relevant to the partnership.

title: Glendower Access Secondary Opportunities IV (U.S.), L.P. 1-7 Amended and Restated Limited Partnership Agreement


document_description: The document outlines the financial allocations and tax considerations for the partners of Southern Financial LLC, as per the Amended and Restated Limited Partnership Agreement. It includes provisions for special allocations to reflect economic interests and tax allocations in accordance with the Internal Revenue Code.


document_description: This document is a financial memorandum related to the Access Fund and Underlying Fund managed by Glendower. It outlines the indirect interests, rights, and obligations of the Limited Partners, General Partner, and Investment Manager. It discusses the potential risks, fees, and performance expectations associated with the funds. The memorandum includes forward-looking statements and emphasizes the importance of investors conducting their own examination of the fund before investing.

document_subtype: investment memorandum

key_organizations:
Glendower
Access Fund
Underlying Fund
General Partner
Investment Manager


document_description: This document is an investment memorandum for prospective investors in the Access Fund managed by Southern Financial LLC. It outlines the legal, tax, regulatory, financial, and accounting considerations for potential investors, emphasizing the need for consultation with personal advisors. The memorandum is not a prospectus and does not contain all necessary information for investment decisions. It includes summaries of the Partnership Agreement and Subscription Agreement, which are subject to change and should be reviewed for complete details. The document also addresses U.S. Treasury Regulations compliance and advises investors to seek independent tax advice. Prospective investors are encouraged to meet with Access Fund representatives for further information.

document_subtype: Investment Memorandum

key_organizations:
Southern Financial LLC
Access Fund
Glendower
Investment Manager
Placement Agents


document_description: This document is a Private Placement Memorandum for Southern Financial LLC, detailing the terms and conditions for subscribing to the Access Fund. It includes confidentiality agreements and legal restrictions on the distribution and sale of interests.

document_subtype: Private Placement Memorandum

key_organizations:
Southern Financial LLC
Glendower
Underlying Fund
Institutional Capital Network, Inc.


document_description: The document outlines the exemption of Southern Financial LLC's Access Fund from registration with the U.S. Commodity Futures Trading Commission (CFTC) as a Commodity Pool Operator (CPO) and Commodity Trading Advisor (CTA) under specific CFTC rules. It details the conditions under which the exemption is claimed, including limitations on marketing, investor qualifications, and commodity interest exposure limits.

document_subtype: exemption notice


document_description: The document discusses the aggregation of positions for CFTC position limit and large trader reporting purposes, including future requirements for swaps equivalent to commodity futures. It advises prospective investors to consult legal advisors regarding position aggregation and reporting requirements. The investment manager has filed for an exemption from CFTC registration as a CTA under specific CFTC rules, based on its registration as an investment adviser and the nature of its advice.

document_subtype: investment advisory

key_organizations:
Southern Financial LLC
CFTC
NFA


document_description: This document is a table of contents for Southern Financial LLC, outlining sections on introduction, summary of principal terms of the access fund, certain risk factors and potential conflicts of interest, and tax, regulatory, and certain ERISA considerations. It also references an appendix containing a confidential private placement memorandum.

title: Table of Contents for Southern Financial LLC

document_subtype: Table of Contents

key_organizations: Glendower Capital Secondary Opportunities Fund IV, LP


document_description: The document is an investment memorandum for Glendower Access Secondary Opportunities IV (U.S.), L.P., a Delaware limited partnership. It outlines the investment strategy of investing in Glendower Capital Secondary Opportunities Fund IV, LP, an English private fund. The principal objective is to generate attractive risk-adjusted returns through diverse investments in the secondary market. The memorandum advises prospective investors to read the Underlying Fund's Private Placement Memorandum for risk factors and potential conflicts of interest.

title: Glendower Access Secondary Opportunities IV (U.S.), L.P. Investment Memorandum

key_locations: Delaware England


document_description: This document provides a summary of the principal terms of the Glendower Access Secondary Opportunities IV (U.S.), L.P. (the 'Access Fund') and its relationship with the Underlying Fund. It outlines the roles of the General Partner and the Investment Manager, and references the relevant agreements governing the Access Fund.

title: Summary of Principal Terms of the Access Fund

document_date: October 2017

document_subtype: Investment Summary


document_description: This document is an investment memorandum for the Access Fund, managed by Southern Financial LLC. It outlines the management fee structure, the role of the Investment Manager, and the purpose of the Access Fund, which is to invest in Glendower Capital Secondary Opportunities Fund IV, LP. The memorandum details the investment objectives and strategies of the Underlying Fund, focusing on secondary market opportunities in private equity. It also discusses the discretion of the General Partner in managing cash flows and investment commitments.


document_description: The document outlines the offering of limited partner interests in the Access Fund by Southern Financial LLC. It details the investment structure, eligibility criteria for U.S. taxable and tax-exempt investors, and the minimum subscription requirements. The Access Fund is designed for U.S. investors willing to receive unrelated business taxable income (UBTI) and is not suitable for non-U.S. investors. The document also highlights the additional expenses for investors in the Access Fund compared to direct investment in the Underlying Fund.

document_subtype: investment offering

key_organizations:
Southern Financial LLC
Access Fund
Underlying Fund
Glendower GP


document_description: The document outlines the procedures for initial and subsequent closings of the Access Fund managed by Southern Financial LLC. It details the responsibilities of Limited Partners, including capital contributions, management fees, and interest calculations for late contributions.

document_subtype: Investment Fund Document

key_organizations:
Southern Financial LLC
Access Fund
Glendower GP


document_description: The document outlines the structure and terms of investment for the Glendower Access Secondary Opportunities IV (International), L.P., a Cayman Islands exempted limited partnership. It details the formation of the Access Funds for qualified U.S. Tax-Exempt Investors and Non-U.S. Investors, capital call procedures, and potential penalties for non-compliance by Limited Partners.

document_subtype: investment fund document


document_description: The document outlines the terms and conditions related to defaults in capital contributions by Limited Partners in a partnership agreement involving Southern Financial LLC and Glendower. It details the consequences of such defaults, including potential forfeiture of interests and the ability of the General Partner to call additional capital from other Limited Partners. It also describes the bifurcated default process and the rights and remedies available to the General Partner and the Underlying Fund in case of defaults.

key_people:
General Partner
Investment Manager
Glendower GP

key_organizations:
Southern Financial LLC
Access Fund
Underlying Fund
Glendower


document_description: The document outlines the distribution and allocation procedures for the Access Fund managed by Southern Financial LLC. It details the discretion of the General Partner in applying default provisions, the distribution of funds from the Underlying Fund to Limited Partners, and the maintenance of capital accounts. It also covers the organizational and offering expenses borne by the Access Fund and its Limited Partners, as well as other expenses related to the management and operation of the Access Fund.

key_organizations:
Southern Financial LLC
Access Fund
Feeder Fund
Underlying Fund


document_description: This document outlines the various expenses and costs associated with the Access Fund, including legal, administrative, custodial, and investment-related expenses. It also covers expenses related to litigation, consulting services, and insurance premiums. Additionally, it details costs associated with alternative investment vehicles and regulatory obligations.

document_subtype: financial report

key_organizations:
Southern Financial LLC
Access Fund
Underlying Fund
General Partner
Investment Manager


document_description: The document outlines the financial responsibilities and fee structures for Limited Partners in relation to the Access Fund and Feeder Funds. It details how operating expenses, management fees, and other costs are allocated among the partners and funds.

document_subtype: financial agreement


document_description: This document outlines the management fee structure for Limited Partners in the Access Fund managed by Southern Financial LLC. It details the calculation of management fees based on subscription amounts and investment periods, as well as the distribution of fees to the Investment Manager and Placement Agents.

key_people:
Investment Manager
Placement Agents

document_subtype: Investment Agreement


document_description: The document outlines the carried interest distributions, indemnification, and withdrawal and transfer policies for the Access Fund associated with Southern Financial LLC. It details the carried interest distribution of 12.5% of net profits to Glendower GP, indemnification obligations of the Access Fund, and restrictions on withdrawal and transfer of interests by Limited Partners.


document_description: The document outlines considerations for prospective investors in the Access Fund, particularly in relation to ERISA compliance. It details the General Partner's efforts to ensure the fund is suitable for employee benefit plans and the limitations on benefit plan investors. It also covers the potential for Limited Partners to return distributions in case of liabilities and the amendment procedures for the Partnership Agreement.

document_subtype: investment document

key_organizations:
Southern Financial LLC
Access Fund


document_description: The document outlines amendments to the Partnership Agreement of the Access Fund managed by Southern Financial LLC. It details conditions under which amendments can be made, such as compliance with legal requirements and addressing financial or regulatory changes. It also discusses the voting rights of the General Partner and Investment Manager, borrowing provisions, and the use of credit facilities.

key_organizations:
Southern Financial LLC
Access Fund
Underlying Fund


document_description: The document outlines the borrowing and credit support capabilities of the Underlying Fund and its impact on the Access Fund's ability to borrow funds. It also details investor eligibility criteria and confidentiality obligations for Limited Partners.

key_organizations:
Southern Financial LLC
Underlying Fund
Access Fund


document_description: The document outlines the terms and conditions of an investment in the Access Fund managed by Southern Financial LLC. It discusses indemnification provisions, capital contributions, co-investment opportunities, and compensation arrangements. The document highlights potential risks and conflicts of interest for investors.

document_subtype: investment agreement

key_organizations:
Southern Financial LLC
Glendower GP
iCapital Securities, LLC


document_description: The document outlines the roles and responsibilities of the General Partner and the Investment Manager in managing investment funds and accounts. It discusses potential conflicts of interest, the management of other funds with similar strategies, and the valuation of assets. The document emphasizes the importance of acting in the best interests of investors and addresses how conflicts are managed. It also highlights the potential benefits and rights that may differ between investors in different funds or accounts.

key_organizations:
Southern Financial LLC
iCapital Network
Glendower


document_description: The document outlines the collaboration and services agreements between the Investment Manager and Fidelity Brokerage Services LLC and National Financial Services LLC. It discusses the compensation arrangements, potential conflicts of interest, educational programs for financial advisers, default penalties for Limited Partners, and ERISA considerations related to the Access Fund.

key_organizations:
Fidelity Brokerage Services LLC
National Financial Services LLC
Institutional Capital Network, Inc.


document_description: The document discusses the potential risks and liabilities associated with the Access Fund's significant ownership interests in portfolio companies, particularly in relation to ERISA controlled group liability. It references the 2013 Sun Capital Case and the 2016 U.S. District Court ruling on partnership-in-fact. The document also outlines the lack of recourse for Limited Partners against the Underlying Fund, restrictions on transferability or redemption of interests, and the lack of voting rights or participation in the Underlying Fund's management. It highlights the investment concentration risks associated with the Access Fund's sole investment in the Underlying Fund.

key_locations: U.S. Federal Court of Appeals for the First Circuit

key_locations: U.S. District Court for the District of Massachusetts

document_subtype: investment fund disclosure

key_organizations:
Access Fund
Underlying Fund
Glendower


document_description: The document discusses the terms and conditions of the Underlying Fund and the Access Fund managed by Southern Financial LLC. It highlights potential conflicts of interest among diverse investors, confidentiality of certain information, and the possibility of amendments to the fund's governing agreement. The document also covers the use of Side Letters for preferential terms and the restrictions on transferring interests without the General Partner's consent.

key_organizations:
Southern Financial LLC
Glendower
Underlying Fund
Access Fund


document_description: The document outlines the financial obligations and rights of the Access Fund and its Limited Partners in relation to the Underlying Fund managed by Glendower GP. It details the conditions under which capital contributions can be recalled, the indemnification obligations of the Access Fund, and the multiple layers of expenses that will be borne by the Access Fund and its Limited Partners.


document_description: The document discusses the financial operations and risks associated with Southern Financial LLC's Access Fund and its investments in the Underlying Fund. It covers topics such as investor participation in subsequent closings, public disclosure requirements, and borrowing strategies. The document highlights potential risks related to public disclosure, borrowing, and the use of leverage.


document_description: The document is an investment memorandum for Southern Financial LLC's Access Fund, detailing cash management strategies, risks of over-commitment, lack of diversification, forward-looking statements, and disqualification risks under Rule 506 of Regulation D. It outlines the potential financial risks and management strategies for the Access Fund's investments in the Underlying Fund.


document_description: The document discusses the legal and regulatory risks associated with the Access Fund and the Underlying Fund, particularly in light of the Dodd-Frank Act. It highlights the potential for increased regulatory scrutiny and the impact of new regulations on private investment funds, including additional reporting requirements and market structure changes for derivatives.

document_subtype: regulatory compliance

key_organizations:
Southern Financial LLC
Glendower GP
Access Fund
Underlying Fund
SEC
CFTC


document_description: The document discusses changes in financial regulations affecting OTC derivatives, including execution on regulated exchanges, real-time reporting, enhanced documentation, and margin requirements. It highlights the potential impact on costs, exposure, liquidity, and investment returns for funds like the Underlying Fund and Access Fund. The document also covers the Dodd-Frank Act's expansion of CFTC's authority on position limits and reporting requirements.

key_locations:
European Union
Japan

document_subtype: financial regulation summary

key_organizations:
Southern Financial LLC
CFTC


document_description: The document discusses the impact of the Bipartisan Budget Act of 2015 on U.S. federal income tax audits of partnerships, specifically focusing on the BBA Rules and their implications for partnerships like the Access Fund. It outlines the potential tax liabilities for current and former partners, the elective alternative procedure, and the uncertainties surrounding the application of these rules. Additionally, it highlights other tax risks associated with investing in the Access Fund, including adverse changes in tax laws and the potential for substantial taxation.

document_subtype: tax legislation summary


document_description: Discussion on the potential tax implications for Limited Partners of the Access Fund, including the possibility of IRS audits and the responsibilities of the General Partner in such events.

key_people:
Limited Partners
General Partner

document_subtype: tax document

key_organizations:
Access Fund
IRS
Southern Financial LLC


document_description: This document provides a summary of certain U.S. federal income tax considerations related to an investment in the Access Fund. It discusses the implications for U.S. persons and highlights that the IRS may have different interpretations. It advises non-U.S. persons and certain categories of investors to consult their own tax advisors. The document is based on current laws and does not cover all possible tax scenarios.

document_subtype: tax considerations


document_description: This document is a tax summary for prospective investors in the Access Fund and Underlying Fund, expected to be treated as partnerships for U.S. federal income tax purposes. It outlines potential tax consequences and advises investors to consult their own tax advisors. The document discusses the possibility of the funds being treated as corporations if they fail to qualify as partnerships, which would result in different tax implications.

document_subtype: tax summary


document_description: The document discusses the tax consequences for Limited Partners in the Access Fund, including tax basis, distributions, and allocations of income and loss. It outlines how a Limited Partner's tax basis is calculated, the tax implications of cash and property distributions, and the allocation of income and loss according to the Partnership Agreement. The document also notes the potential for IRS challenges to the Fund's allocations.


document_description: The document outlines tax implications for non-corporate Limited Partners investing in the Access Fund managed by Southern Financial LLC. It discusses the investment interest limitation, passive activity loss rules, at-risk limitations, and the deductibility of fund expenses. Non-corporate Limited Partners are advised to consult tax advisors regarding these limitations.

document_subtype: investment memorandum


document_description: The document discusses the tax implications for the Access Fund, including the treatment of capital losses, capital gains, and ordinary income from interest and fees. It also covers the tax treatment of debt investments, original issue discount, market discount, and contingent payment debt instruments. Additionally, it addresses uncertainties in U.S. federal income tax law related to debt restructuring.


document_description: This document outlines the tax implications for U.S. persons and U.S. Tax-Exempt Investors involved with controlled foreign corporations (CFCs) and the Access Fund. It discusses the rules for U.S. shareholders of CFCs, including the inclusion of certain earnings in gross income and the treatment of gains as dividend income. It also covers the impact of the 2017 Tax Legislation on deferred earnings and the tax treatment of foreign currency gains or losses. Additionally, it highlights the potential for unrelated business taxable income (UBTI) for U.S. Tax-Exempt Investors due to leverage and other income-generating activities by the Access Fund.


document_description: The document discusses U.S. tax reporting requirements for Limited Partners owning interests in non-U.S. entities through the Access Fund. It outlines the obligations for filing information returns, potential penalties for non-compliance, and the conditions under which qualified dividend income is taxed at reduced rates. It also mentions the FBAR filing requirements for U.S. persons with financial interests in non-U.S. accounts.


document_description: The document outlines the legal and regulatory considerations for the Access Fund under various U.S. financial laws, including the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Commodity Exchange Act of 1974. It discusses exemptions from registration requirements and compliance with anti-money laundering regulations.

document_subtype: Legal Disclosure

key_organizations:
Southern Financial LLC
Access Fund
General Partner
Investment Manager
National Futures Association


document_description: This document discusses the implications of the 2017 Fiduciary Rule on investments by ERISA Plans and Individual Plans in the Access Fund managed by Southern Financial LLC. It outlines the fiduciary responsibilities and potential prohibited transactions under ERISA and the Code, and the conditions under which the Seller's Exclusion applies. The document also explains the significance of plan assets and the 25% ownership rule for benefit plan investors.

key_organizations:
Southern Financial LLC
U.S. Department of Labor


document_description: The document discusses the classification of equity interests in the Access Fund as held by 'benefit plan investors' under ERISA regulations. It outlines the implications if the Access Fund's assets are considered plan assets under ERISA, including fiduciary responsibilities and potential liabilities. It also addresses reporting requirements for ERISA Plan investors on Form 5500 and advises governmental pension plans to consult legal counsel before investing. The document emphasizes the need for fiduciaries to seek legal advice regarding ERISA and investment decisions.


document_description: This document is a supplement to the Private Placement Memorandum for the offering of limited partner interests in Glendower Access Secondary Opportunities IV (U.S.), L.P. It is intended for potential investors and should be reviewed alongside the original Memorandum dated January 2018.

title: Supplement to the Private Placement Memorandum for Glendower Access Secondary Opportunities IV (U.S.), L.P.

document_date: March 2018

document_subtype: Private Placement Memorandum Supplement

key_organizations:
Southern Financial LLC
Glendower Capital


document_description: The document outlines amendments to the Summary of Principal Terms of the Access Fund, detailing the expenses that the Access Fund will cover, including management fees, legal costs, and other operational expenses.

title: Changes to Summary of Principal Terms of the Access Fund

document_subtype: Summary of Principal Terms


document_description: This document outlines the financial responsibilities and indemnification obligations of Limited Partners in relation to the Access Fund and its associated Feeder Funds. It details how operating expenses, management fees, and other costs are allocated among the funds and partners. It also describes the conditions under which Limited Partners may be required to return distributions to cover indemnification liabilities.

document_subtype: Investment Fund Agreement


document_description: Amendments to the risk factors and potential conflicts of interest sections for investors in the Access Fund, detailing changes in indemnification obligations and distribution repayments.

document_subtype: amendment notice

key_organizations:
Southern Financial LLC
Access Fund
Underlying Fund
Glendower GP


document_description: The document outlines the indemnity obligations of the Access Fund and the Underlying Fund, including the funding of indemnification claims through capital calls or return of distributions. It also discusses the expenses and management costs associated with the Access Fund and the Underlying Fund, which are borne by the Access Fund. The document highlights that certain expenses are not capped and are apart from a Limited Partner's Subscription.

document_subtype: Partnership Agreement


document_description: This document is a confidential private placement memorandum for Southern Financial LLC, labeled as proprietary and confidential. It is marked as confidential pursuant to Federal Rule of Criminal Procedure 6(e).

title: Underlying Fund Confidential Private Placement Memorandum


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP, associated with Southern Financial LLC and Credit Suisse.

title: Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP

key_organizations:
Southern Financial LLC
Glendower Capital
Credit Suisse


document_description: This document is an amended and restated confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, circulated to a limited number of qualified prospective investors for evaluating an investment in the fund's limited partner interests. It outlines the terms of the offering, including the merits and risks involved, and is communicated in the UK only to professional investors.

title: Glendower Capital Secondary Opportunities Fund IV, LP - Confidential Private Placement Memorandum

document_subtype: Private Placement Memorandum

key_organizations:
Glendower Capital LLP
UK Financial Conduct Authority


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines that the fund will not be registered under the U.S. Investment Company Act of 1940 or the U.S. Securities Act of 1933. The interests are offered only to qualifying recipients and are subject to significant risks, including lack of liquidity and indefinite financial risk. The memorandum advises prospective investors to consult their advisors and emphasizes that past performance is not indicative of future results.

title: Confidential Private Placement Memorandum

key_organizations:
Glendower Capital
Southern Financial LLC
DB Secondary Opportunities Fund A, L.P.
DB Secondary Opportunities Fund B, L.P.
DB Secondary Opportunities Fund C, L.P.
DB Secondary Opportunities Fund D, L.P.
Secondary Opportunities Fund II, LP
Secondary Opportunities Fund III, LP


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the past performance of the SOF Funds managed at Deutsche Bank and the transition of management to Glendower Capital (U.S.), LLC. The memorandum includes forward-looking statements and legal disclaimers regarding the fund's performance and regulatory status. It emphasizes that the fund's legal and tax structure is assumed to be fully implemented and authorized by the FCA before the first closing. The document also clarifies that it does not constitute an offer or solicitation in any jurisdiction where it is unlawful.

key_people: Partners and employees of the Manager and the U.S. Adviser

document_subtype: Confidential Private Placement Memorandum

key_organizations:
Glendower Capital
Deutsche Bank
Glendower Capital (U.S.), LLC
FCA
Credit Suisse Asset Management Limited


document_description: This memorandum outlines the exemption status of Glendower Capital and its General Partner from CFTC registration, the role of Credit Suisse as a placement agent, and the responsibilities of potential investors. It emphasizes that the CFTC has not reviewed or approved the offering and that Credit Suisse is not acting as an investment adviser or fiduciary.

document_subtype: memorandum

key_organizations: U.S. Commodity Futures Trading Commission


document_description: The document is a confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, with Credit Suisse acting as a placement agent. It discusses potential conflicts of interest, tax advice disclaimers, and legal notices for New Hampshire and Florida residents.

key_locations:
New Hampshire
Florida


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes sections on executive summary, investment performance, principal terms, fund management, risk factors, legal considerations, and appendices on various topics such as anti-money laundering and privacy notice.

key_organizations:
Glendower Capital
Southern Financial LLC


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP, associated with Southern Financial LLC.

title: Executive Summary


document_description: The document is a confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the history and strategy of the fund, including its spin-out from Deutsche Asset Management in 2017. The memorandum highlights the benefits of secondary market investing, such as capitalizing on information asymmetries and mitigating blind pool risk. It also discusses the favorable supply-demand balance in the secondary market and the fund's past performance.

key_organizations:
Glendower Capital
Deutsche Asset Management


document_description: The document outlines the investment strategy and objectives of the Glendower Capital Secondary Opportunities Fund IV, LP. It focuses on bespoke liquidity solutions, GP-led secondary deals, and a distinctive investment strategy built around five main pillars: targeting less competitive transactions, a true value approach, buying margin of safety, efficient portfolio management, and a barbell approach to portfolio construction. The fund aims to leverage relationships with fund sponsors and sellers to address non-monetary transaction objectives and solve for complexity in smaller transactions.


document_description: The document provides an executive summary of the Glendower Capital Secondary Opportunities Fund IV, LP, highlighting its strong performance metrics as of September 30, 2017. It details the fund's track record, investment strategy, and team experience. The fund has shown top decile and quartile performances across various metrics such as gross multiple, IRR, TVPI, and DPI. The document also outlines the team's experience and the fund's disciplined investment process aimed at achieving over 20% Net IRR.

title: Glendower Capital Secondary Opportunities Fund IV, LP - Executive Summary

key_people:
Carlo Pirzio-Biroli
Charles Smith
Chi Cheung
Deirdre Davies
Adam Graev
Joshua Glaser

key_locations:
London
New York

document_subtype: Executive Summary

key_organizations:
Glendower Capital
Deutsche Asset Management
Deutsche Bank


document_description: The document provides an overview of the investment performance of the Glendower Capital Secondary Opportunities Fund IV, LP, highlighting strong buyout-like returns with a low risk profile. It includes detailed performance metrics such as Net IRR, TVPI, and DPI for various funds under the SOF Program as of September 30, 2017.

title: Glendower Capital Secondary Opportunities Fund IV, LP - Investment Performance

document_subtype: Investment Performance Report


document_description: The document provides a performance analysis of the Glendower Capital Secondary Opportunities Fund IV, LP, comparing it against the Cambridge Associates Secondaries Benchmark statistics as of September 30, 2017. It includes performance metrics such as Net IRR, DPI, and TVPI for various SOF funds across different vintage years. The document also benchmarks these funds against top quartile buyout funds, highlighting their comparatively strong performance.

key_organizations:
Glendower Capital
Cambridge Associates


document_description: The document compares the performance of the SOF Program against public market indexes such as the MSCI World Index, Russell 2000 Index, and Thomson Reuters Private Equity Buyout Index. The SOF Program, including SOF, SOF D, SOF II, and SOF III, shows favorable performance compared to these indexes. The Long Nickels method is used for calculating PMEs, and net IRR is calculated using replicated cashflows in the index and a theoretical terminal value.

title: Scotian 2: Investment Performance

key_organizations: Glendower Capital Secondary Opportunities Fund IV, LP


document_description: This document is a summary of the principal terms for the Glendower Capital Secondary Opportunities Fund Pt LP, issued by Southern Financial LLC.

title: Summary of Principal Terms


document_description: This document provides a summary of the principal terms and conditions for investing in the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on the investment strategy, target size, minimum commitment, fund structure, management, term, investment period, and financial terms such as the general partner's share and carried interest.

title: Summary of Principal Terms for Glendower Capital Secondary Opportunities Fund IV, LP

key_people:
Glendower Capital, LLP
Glendower Capital (U.S.), LLC

document_subtype: Investment Summary


document_description: The document outlines the investment strategy for the Glendower Capital Secondary Opportunities Fund IV, LP (SOF IV), which is established by Glendower Capital. The fund aims to pursue a disciplined investment strategy in the secondary market, targeting a diverse portfolio including buyout, growth capital, venture capital, and more. It focuses on three main types of investments: Fund Secondaries, GP-led Secondaries, and Single Asset Deals, with a global focus primarily in the U.S. and Europe. The fund aims for risk-adjusted returns in excess of 20% Net IRR.

document_subtype: Investment Fund Memorandum


document_description: The document outlines the investment strategy and sourcing approach of Glendower Capital Secondary Opportunities Fund IV, LP. It emphasizes the fund's ability to source less intermediated deal flow and work directly with sellers, focusing on non-monetary factors such as confidentiality and speed of transaction. The fund's global sourcing approach aims to achieve attractive risk-adjusted returns by allocating capital to the best investment opportunities globally. The document provides data on the geographical distribution of assets and sellers, and highlights the fund's extensive industry network and disciplined deal selection process.

key_locations:
North America
Europe
Asia and Pacific

key_organizations:
Glendower Capital
Southern Financial LLC
Raymond James
Alex Brown


document_description: The document discusses the attractiveness of secondary investments for investors, highlighting their role in diversifying private equity portfolios. It outlines the benefits of secondary investments, such as pricing flexibility, mitigation of blind pool risk, and mitigation of the J-curve effect. The document also describes the illiquid nature of private equity assets and the opportunities in the secondary market due to industry dynamics.

title: Glendower Capital Secondary Opportunities Fund IV, LP


document_description: The document discusses the growth and pricing trends in the secondary private equity market, highlighting key metrics such as NAV, unrealized portfolio value, and dry powder. It includes a table showing the annual unrealized portfolio value, dry powder, and total value from 2007 to 2017. The document also discusses pricing trends in the secondary market, noting that younger funds with available dry powder receive stronger pricing, while tail-end funds face wider discounts.

document_subtype: financial report

key_organizations:
Glendower Capital
Greenhill


document_description: The document provides an analysis of secondary market pricing trends from 2005 to 2017, highlighting cash flows, market conditions, and pricing stability. It discusses the impact of market overheating in 2006-2007, the crisis period, and the subsequent normalization of pricing. The analysis includes data on pricing as a percentage of NAV and annual market volumes, emphasizing the recovery and stability of the secondary market post-2009.

title: Glendower Capital Secondary Opportunities Fund IV, LP - Secondary Market Pricing Analysis

document_subtype: financial analysis

key_organizations:
Glendower Capital
Greenhill
Cogent Partners
Dow Jones Private Equity Analyst


document_description: The document provides a breakdown of seller composition and funds marketed by vintage for Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the emergence of traditional secondary buyers and funds-of-funds entering the market as sellers, with motivations to wind down older vehicles to lock in gains or return capital to LPs. It also includes data on private equity assets by fund vintage year, indicating a significant supply of secondary opportunities in pre-crisis bubble funds.

key_organizations:
Glendower Capital
Greenhill Cogent
Preqin


document_description: The document discusses the growth and prominence of GP-led secondaries in the financial market, highlighting the transaction volumes from 2006 to 2017. It includes a table showing the transaction volume in US dollars and as a percentage of the total secondary market deal volume. The document also outlines factors driving the trend for general partners to organize liquidity solutions for investors.

title: GP-led Secondaries Transaction Volume (2006 — 2017)


document_description: The document discusses the role of GP-led Secondaries in the market, highlighting their growth and the complexities involved in such transactions. It emphasizes the need for advanced expertise and larger teams to handle these transactions, and outlines Glendower's cautious approach to GP-led Secondaries, focusing on strong alignment with managers and attractive assets.

key_organizations:
Glendower Capital
BC Partners
DIAMOND CASTLE
EGT
One Equity Partners
WARBURG PINCUS
NORDIC CAPITAL
DUKE STREET
LON POINT
CATAL
QUADRICA CAPITAL
ARCO REAL ESTATE
GMT
Pollen Street
ENHANCED HEALTHCARE PARTNERS
Zurmont Madison Capital


document_description: The document discusses the competitive environment of the secondary market for funds, focusing on Glendower Capital's positioning in the mid-sized segment. It highlights the advantages of this segment, sourcing strategies, and the changing mix of sellers in the market. The document includes a table showing the competitive landscape by fund size and strategy category.


document_description: The document outlines the ongoing deal management and investment realization strategies for the Glendower Capital Secondary Opportunities Fund IV, LP. It details the responsibilities of the Glendower SOF Team in managing investments, including attending meetings, reviewing financial information, monitoring market developments, and preparing valuations. The document also describes the process for realizing investments, including due diligence and approval stages for divestments.


document_description: This document is a confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, associated with Southern Financial LLC.

key_organizations:
Southern Financial LLC
Glendower Capital


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP, managed by Southern Financial LLC. It outlines the management structure and strategies of the fund.

title: Glendower Capital Secondary Opportunities Fund IV. LP - Fund Management


document_description: The document is a section from a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It details the fund management structure, investment team, and investment committee of Glendower Capital, an independent investment firm focused on secondary private markets. The firm was formed by a team that spun out from Deutsche Asset Management in 2017. The document outlines the management and operation of the fund, the investment team's composition, and the responsibilities of the investment committee.

key_people:
Carlo Pirzio-Biroli
Charles Smith
Chi Cheung
Adam Graev
Francesco Rigamonti
Emilio Olmos
Rikesh Mohandoss

key_organizations:
Glendower Capital
Deutsche Asset Management
FCA


document_description: This document provides information about the senior team and their roles at Glendower Capital Secondary Opportunities Fund IV, LP. It includes details about the professional backgrounds and responsibilities of key team members such as Deirdre, Joshua Glaser, Francesco Rigamonti, Rikesh Mohandoss, Katherine Weaver, Victoria Loldi, Devrup Banerjee, and Aldrich Chan. The document highlights their previous experiences and educational backgrounds.

key_people:
Deirdre
Joshua Glaser
Francesco Rigamonti
Rikesh Mohandoss
Katherine Weaver
Victoria Loldi
Devrup Banerjee
Aldrich Chan

key_locations:
New York
Milan
South Africa
London

key_organizations:
Glendower Capital
Deutsche Bank
KPMG
Paul Capital
Forum Capital
CIBC Oppenheimer
Gallo & Co.
Federal Home Loan Mortgage Corporation
Brookfield Office Properties
Trizec Properties
HSBC
Goldman Sachs
UBS Investment Bank


document_description: This document provides information about the team members of Glendower Capital Secondary Opportunities Fund IV, LP, including their roles, responsibilities, and previous experience. It also mentions future recruitment plans for the investment team.

key_people:
Philippe Femeini
Elena Smimova
Louise Schoeman
Jonathan Roome
Douglas O'Connell
Rafael Enrlquez-Hesles
Sheldon Lee

key_organizations:
Glendower Capital
Deutsche Asset Management
Credit Suisse
Booz & Company
HSBC
London's Air Ambulance
Metropolitan Real Estate
The Carlyle Group
Wel
Citibank


document_description: This document is a summary of terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP, issued by Southern Financial LLC.

title: Summary of Terms and Conditions


document_description: This document provides a summary of the principal terms of the Glendower Capital Secondary Opportunities Fund IV, LP, an English private fund limited partnership. It outlines the investment objectives, the roles of the General Partner and the Manager, and the fund's strategy for generating returns through various investment opportunities in the secondary market. The document emphasizes that the summary is qualified by the Fund Partnership Agreement and other related documents.

title: Glendower Capital Secondary Opportunities Fund IV. LP - Summary of Terms and Conditions

key_people: Glendower Capital SOF IV (Alternate GP), LLP

key_locations:
Cayman Islands
UK
U.S.
Europe

document_subtype: Summary of Terms and Conditions


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP, including details about the General Partner's share, commitments, minimum commitment, Glendower Capital investment, closings, subsequent closing partners, and drawdowns. The fund seeks aggregate commitments of US$1.75 billion, with a maximum of US$2.5 billion. The minimum commitment for limited partners is US$5 million. The document also details the process for closings and the participation of subsequent closing partners.

title: Summary of Terms and Conditions for Glendower Capital Secondary Opportunities Fund IV, LP

key_people:
General Partner
Limited Partners
Manager
Glendower Capital (U.S.), LLC


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes investment restrictions, indebtedness policies, hedging strategies, and the allocation of the General Partner's share. Key points include limitations on investment in single funds, borrowing strategies for investment facilitation, and hedging transactions for risk management.


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on feeder and parallel funds, successor funds, allocation of investment opportunities, transfers and withdrawals, reporting and valuations, and disclosure of changes to leverage provisions. The document specifies the rights and obligations of the Manager and Limited Partners, including the appointment of advisory committee members, restrictions on successor funds, and reporting requirements.

key_organizations:
Glendower Capital
Glendower Capital, LLP


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on co-investment opportunities, alternative vehicles, parallel funds, feeder funds, and side letters. The Manager has discretion over co-investment opportunities and the use of alternative vehicles. Parallel and feeder funds may be established to meet investor requirements. Side letters can establish additional rights or alter terms for specific Limited Partners.

title: Glendower Capital Secondary Opportunities Fund IV. LP


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes sections on indemnification, removal of the General Partner, amendments to the Fund Partnership Agreement, default provisions, and the term of the fund. Key points include indemnification clauses for Covered Persons, conditions for the removal of the General Partner, and the process for amending the Fund Partnership Agreement. The document also details the consequences for Limited Partners who default on their obligations.

key_people:
General Partner
Manager
Second GP


document_description: This document is a section from the Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, focusing on risk factors associated with the investment.

title: Glendower Capital Secondary Opportunities Fund IV, LP - Section 7: Risk Factors


document_description: The document outlines the risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the substantial risks involved, including the potential for loss of investment, lack of liquidity, and the complex nature of due diligence in secondary private equity investments. It also discusses the risks related to pooled investments, the termination of the Fund's interest in underlying funds, and reliance on management of portfolio companies.

title: Glendower Capital Secondary Opportunities Fund IV, LP - Risk Factors

document_subtype: Risk Factors


document_description: The document outlines the risk factors associated with investments made by the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the potential risks related to leverage, investments in troubled and leveraged companies, venture capital investments, valuation issues, lack of liquidity, and the absence of an established market for secondaries investments.


document_description: This document outlines the risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the unpredictability of future events, potential poor performance of investments, exclusive loss bearing by the Fund and its partners, risks associated with leverage, and the use of subscription line facilities. It also mentions the potential for accelerated entitlement to carried interest due to borrowing strategies and the reliability of investment history data.

title: Risk Factors - Glendower Capital Secondary Opportunities Fund IV, LP


document_description: This document is a section from the Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, detailing risk factors associated with the fund. It highlights the competitive nature of the fund's business, dependence on the manager and key personnel, lack of operating history, and prior affiliation with Deutsche Bank.

key_people:
Manager
Key Persons

key_organizations:
Glendower Capital
Deutsche Bank
SOF Funds


document_description: This document outlines the risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the liquidity risk, potential for distributions in kind, investor obligations, uncertainties in payment timings, and risks related to unspecified transactions. The document emphasizes the reliance on the Manager's judgment and ability in managing the fund's investments.

key_organizations:
Glendower Capital
Deutsche Bank
Southern Financial LLC


document_description: The document outlines various risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP, including valuation risk, absence of Investment Company Act protection, tax risks, and implications of Base Erosion and Profit Shifting (BEPS).

key_organizations: Organization for Economic Co-operation and Development (OECD)


document_description: This section outlines various tax-related risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses potential tax implications for investors, changes in tax laws, and the impact of recent U.S. legislation on carried interest. It also highlights the UK Criminal Finances Act 2017, which introduces a corporate offense for failing to prevent the facilitation of tax evasion.

key_organizations:
Glendower Capital
Southern Financial LLC


document_description: This document outlines the risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses potential legal risks related to tax evasion facilitation, co-investment and counterparty risks, dilution from subsequent closings, and indemnification obligations. The document highlights the possibility of financial penalties, risks from joint ventures, and the impact of indemnification on the Fund's financial condition.

key_people:
General Partner
Second GP
Manager
U.S. Adviser


document_description: This document outlines the risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the potential lower returns from short-term investments, the uncertainty of follow-on investments, risks upon disposition of investments, recourse to all assets, the discretion of the Manager regarding defaulting investors, and the challenges of expedited transactions.


document_description: The document outlines various risk factors associated with investments in emerging markets, legal counsel arrangements, diverse investor interests, and sovereign status of certain investors. It highlights potential political, regulatory, and economic risks in emerging markets, the role of Debevoise & Plimpton LLP as special counsel, potential conflicts among investors, and challenges in enforcing contractual obligations due to sovereign immunities.

key_locations:
United States
United Kingdom


document_description: The document outlines risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP, including the potential for side letters that may offer more favorable terms to certain investors, general market risks, and economic conditions affecting the fund's investments.


document_description: The document outlines various risk factors associated with investments in the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the impact of deflation, currency risks, the status of debt markets, and legal, tax, and regulatory risks on the fund's performance and investor returns. The document highlights potential challenges such as limited investment opportunities, currency exchange rate fluctuations, disruptions in debt markets, and evolving legal and regulatory environments.


document_description: This document outlines the risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP, including regulatory scrutiny, Brexit implications, and anti-money laundering compliance. It discusses potential impacts on the private investment industry, market conditions, and legal and regulatory challenges.

key_locations:
UK
European Union


document_description: This section outlines the risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP. It emphasizes that the list of risk factors is not exhaustive and advises potential investors to read the entire memorandum and consult professional advisers before investing.


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP, detailing Section 8: Conflicts of Interest.


document_description: This document outlines potential conflicts of interest related to the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses how the Manager and its affiliates may encounter conflicts in investment activities and how these conflicts will be managed. Investors are required to acknowledge these conflicts and waive claims related to them. Specific conflicts include those among investors, broken deal expenses, management team investments, and carried interest incentives.

key_people:
Manager
General Partner

document_subtype: Conflicts of Interest Disclosure


document_description: The document discusses potential conflicts of interest related to the performance-based compensation of the Manager of the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the role of the Fund Advisory Committee in identifying and consulting on conflicts of interest between the Fund and the Manager.


document_description: This document is a section of a confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund III, LP, focusing on legal, ERISA, and tax considerations.

title: Glendower Capital Secondary Opportunities Fund III, LP - Section 9: Certain Legal, ERISA and Tax Considerations


document_description: The document outlines legal, ERISA, and tax considerations for the Glendower Capital Secondary Opportunities Fund IV, LP, a private fund limited partnership governed by English law. It details the jurisdiction for legal disputes, investor obligations, collateral and asset reuse arrangements, leverage limits, and periodic disclosure requirements.

key_locations: England Wales


document_description: This document outlines the legal and financial considerations for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on the risk management systems, leverage policies, net asset value, historical performance, and the role of the Depositary, Aztec Financial Services (UK) Limited. The document specifies that no investors have been admitted to the Fund, and thus there is no net asset value or historical performance data available. It also details the responsibilities and limitations of the Depositary, including liability restrictions and delegation of duties.

key_organizations:
Glendower Capital
Aztec Financial Services (UK) Limited


document_description: The document outlines legal considerations for Glendower Capital Secondary Opportunities Fund IV, LP, including compliance with the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the U.S. Investment Advisers Act of 1940. It discusses the requirements for SEC filings when acquiring more than 5% of equity securities, the avoidance of short-swing profit liability, and exemptions from registration under the Investment Company Act. It also covers the Manager's status under the Advisers Act and restrictions on offers and sales of interests.

title: Certain Legal, ERISA and Tax Considerations

document_subtype: Legal Considerations


document_description: This document is a section from a confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It discusses legal, ERISA, and tax considerations related to the fund. The document outlines exemptions from registration with the U.S. Commodity Futures Trading Commission (CFTC) for the Manager and General Partner, and provides guidance for fiduciaries of employee benefit plans under ERISA when considering investment in the fund.

reference_numbers: Section 4975 of the U.S. Internal Revenue Code of 1986


document_description: The document outlines tax considerations for investors in the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the implications of partnership audit procedures, the treatment of dividends, investments in passive foreign investment companies (PFICs) and controlled foreign corporations (CFCs), and the restrictions on the deductibility of expenses and losses. The document also covers the potential tax liabilities and reporting requirements for U.S. investors.


document_description: This document is a section from the Confidential Private Placement Memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses legal, ERISA, and tax considerations for investors, including organizational expenses, investment interest expense limitations, qualified business income deductions, and tax implications for ERISA plans, tax-exempt limited partners, and non-U.S. investors. The document outlines potential tax liabilities such as unrelated business taxable income (UBTI) and effectively connected income (ECI) for non-U.S. investors.


document_description: This document discusses the legal, ERISA, and tax considerations for investors in the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights potential penalties for non-compliance with tax laws, the complexity of UK tax considerations, and the responsibilities of investors regarding tax reporting. The fund is structured as an English limited partnership for tax purposes, and investors are urged to consult their tax advisers.

document_date: Confidential


document_description: This document outlines the tax and legal considerations for investors in the Glendower Capital Secondary Opportunities Fund IV, LP, particularly focusing on UK resident investors. It discusses the requirements for obtaining a Unique Taxpayer Reference (UTR) from HM Revenue & Customs, the taxation of income and capital gains for UK investors, and the implications of the Taxation (International and Other Provisions) Act 2010 and the Offshore Funds (Tax) Regulations 2009.

document_subtype: Tax and Legal Considerations


document_description: This document outlines the ERISA and tax considerations for investors in the Glendower Capital Secondary Opportunities Fund IV, LP, particularly focusing on UK tax implications for both UK and non-UK resident investors. It discusses the treatment of offshore funds, controlled foreign companies, unrealized gains or losses, and the implications for pension funds and other exempt bodies. Additionally, it covers UK taxation of non-UK resident investors, including income and capital gains tax considerations, and inheritance tax implications for limited partnership interests.


document_description: The document discusses the implications of the Foreign Account Tax Compliance Act (FATCA) and other international disclosure regimes on the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the requirements for compliance with FATCA, including the need for investors to provide necessary information and documentation. The document also covers the potential tax consequences for non-compliant investors and the application of the OECD's Common Reporting Standard.

key_locations:
United Kingdom
United States


document_description: This document discusses certain legal, ERISA, and tax considerations for investors in the Glendower Capital Secondary Opportunities Fund IV, LP. It covers topics such as withholding taxes and tax considerations for alternative investment vehicles. Investors are advised to consult their own tax advisers.


document_description: This document is a memorandum related to the distribution and offer of interests by Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal restrictions and requirements for offering and selling interests in various jurisdictions, including the European Economic Area, Denmark, Finland, and Germany. The memorandum specifies that it is intended for professional investors and is not a public offering.

key_locations:
European Economic Area
Denmark
Finland
Germany

document_subtype: Memorandum


document_description: This document is a Confidential Private Placement Memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the regulatory considerations and restrictions for offering and marketing the fund in various jurisdictions including the Netherlands, Sweden, the United Kingdom, Australia, and Bahrain. The memorandum specifies that the fund is targeted at professional investors and is subject to different regulatory frameworks depending on the country.

key_locations:
The Netherlands
Sweden
United Kingdom
Australia
Bahrain

key_organizations:
Glendower Capital
Southern Financial LLC
Finansinspektionen
FCA
Central Bank of Bahrain


document_description: This document is a private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the restrictions and legal considerations for offering securities in various countries, including Brazil, Brunei, Canada, Cayman Islands, Chile, China, and Colombia. The memorandum specifies that it is not a public offering and details the legal requirements and limitations for each jurisdiction.

key_locations:
Brazil
Brunei
Canada
Cayman Islands
Chile
China
Colombia


document_description: This document is a Confidential Private Placement Memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP, governed by Colombian law. It outlines the legal and regulatory framework for offering interests in the fund to fewer than 100 specifically identified investors in Colombia, ensuring compliance with Colombian securities laws. The memorandum also addresses the offering's status in the Dubai International Financial Centre, noting that the fund is not regulated by the DIFC or DFSA. It emphasizes the need for prospective investors to conduct due diligence and consult financial advisors if needed.

key_locations: Colombia Dubai

key_organizations: Financial Supervisory Authority of Colombia


document_description: This document is a Confidential Private Placement Memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal and regulatory considerations for offering interests in various jurisdictions including Guernsey, Haiti, Hong Kong, Israel, and Japan. The memorandum specifies that it is not approved by relevant financial authorities in these regions and is intended for professional investors only. It emphasizes that the document does not constitute financial advice and highlights the restrictions on transferability and resale of interests.

key_locations:
Guernsey
Haiti
Hong Kong
Israel
Japan

key_organizations: Securities and Futures Commission in Hong Kong


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal framework and restrictions for the solicitation and sale of interests in the fund in various jurisdictions, including Japan, Kuwait, and Mexico. The memorandum specifies the conditions under which interests can be sold, including the requirement for qualified institutional investors and the reliance on specific exemptions under the Financial Instruments and Exchange Law (FIEL) in Japan. It also details the risks associated with the investment and the confidentiality requirements for the document.

key_locations: Japan Kuwait Mexico

key_organizations: Credit Suisse Securities (Japan) Limited

key_organizations: Mexican Banking and Securities Commission


document_description: This document is a Confidential Private Placement Memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal and regulatory considerations for offering interests in various jurisdictions including Mexico, Monaco, New Zealand, and Oman. The document specifies that the offering must comply with local securities laws and regulations, and it is intended for sophisticated investors only. It also includes disclaimers regarding the language of the document and the non-intent to offer securities in certain regions.

key_locations:
Mexico
Monaco
New Zealand
Oman


document_description: This document is a Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal and regulatory considerations for offering investment interests in various jurisdictions including Peru, Qatar, Saudi Arabia, Singapore, and South Korea. The memorandum specifies that the interests are not registered in these regions and are offered to institutional investors only, with specific legal disclaimers and restrictions for each jurisdiction.

key_locations:
Peru
Qatar
Qatar Financial Centre
Saudi Arabia
Singapore
South Korea


document_description: This document is a Confidential Private Placement Memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal and regulatory considerations for offering and selling investment interests in various jurisdictions, including Korea, St. Kitts and Nevis, and Switzerland. The document specifies that the interests are not registered with the respective financial authorities in these regions and provides guidance on compliance with local laws. It also details the roles of representatives and paying agents in Switzerland, along with the associated fees and distribution arrangements.

key_locations:
Korea
St. Kitts and Nevis
Switzerland
Geneva

key_organizations: Securities Commission of St. Kitts and Nevis

key_organizations: Swiss Financial Market Supervisory Authority (FINMA)


document_description: The document is a Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It outlines that the Interests are not registered under the Securities Act or any state or non-U.S. jurisdiction laws and are offered only to qualifying recipients in the U.S. under specific exemptions. The document emphasizes the restrictions on transferability and resale of the Interests and notes that the Fund is not registered as an investment company under the Investment Company Act, thus lacking its protections.


document_description: This document is a privacy notice for investors in the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the responsibilities of Glendower Capital LLP as the data controller and explains how personal data of investors, both natural and non-natural persons, will be processed, shared, and retained. The notice details the types of personal data collected, the purposes for data processing, and the rights of investors regarding their personal data. It also mentions potential data sharing with various entities and possible data transfers outside the EEA.

title: Glendower Capital Secondary Opportunities Fund IV, LP Privacy Notice

key_people:
Glendower Capital LLP
Gen II Fund Services LLC
Aztec Financial Services (UK) Limited
Lloyds Bank plc
Debevoise & Plimpton LLP

key_locations:
United Kingdom
European Economic Area
United States of America
Cayman Islands

document_subtype: Privacy Notice


document_description: The document outlines the anti-money laundering considerations and obligations for the Glendower Capital Secondary Opportunities Fund IV, LP. It details the responsibilities of the Manager to prevent money laundering, the verification process for investors, and compliance with economic sanction regulations.

title: Appendix 3 Anti-Money Laundering

document_subtype: Anti-Money Laundering Policy


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes a table defining various financial and legal terms related to the fund, such as Depositary Agreement, Deutsche Asset Management, ERISA, and others. The document is marked as confidential pursuant to Federal Rule of Criminal Procedure 6(e).

key_organizations:
Southern Financial LLC
Glendower Capital
Deutsche Bank
U.S. Department of Labor
UK Financial Conduct Authority


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details about the fund's advisory committee, fund documents, partnership agreements, and investment structures. Key entities involved include Glendower Capital, LLP, and Glendower Capital SOF IV (GP) Limited.

title: Confidential Private Placement Memorandum

key_locations:
Cayman Islands
England

document_subtype: Private Placement Memorandum

key_organizations:
Glendower Capital LLP
Glendower Capital SOF IV (GP) Limited
Southern Financial LLC


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes definitions and descriptions of various financial terms and entities related to the fund, such as PFICs, QEF, RVPI, and others. It also outlines the roles of different entities and regulations involved in the fund's operations.

key_locations:
Cayman Islands
Scotland
England

document_subtype: Confidential Private Placement Memorandum

key_organizations: Office of Foreign Assets Control of the U.S. Treasury Department


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund fit LP. It includes definitions and explanations of terms related to the fund, such as subsequent closing partners, team investment, total value, TVPI, and various legal and tax considerations.

key_locations:
United States of America
United Kingdom


document_description: The document provides performance information for the Glendower Capital Secondary Opportunities Fund IV, LP, including metrics such as Distributions to Paid-In Capital (DPI), Gross and Net Internal Rate of Return (IRR), Net Asset Value (NAV), and Total Value to Paid-In Capital (TVPI). It discusses the effects of leverage on IRR calculations and includes a benchmark analysis comparing the fund's performance to other private equity funds.

title: Appendix 5 Important Performance Information


document_description: This document is a Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, prepared by Deutsche Alternative Asset Management (Global) Limited. It provides performance information about the SOF Funds and related transactions managed by the SOF Team while at Deutsche Bank. The document includes forward-looking statements and emphasizes that past performance is not indicative of future results.


document_description: This document is a directory listing the roles and entities associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It includes information about the fund, manager, special counsel, auditors, depositary, fund administrator, and placement agents.

title: Appendix 6 Directory

document_subtype: Directory


document_description: Proposal for the board of directors of the General Partner of Glendower Capital Secondary Opportunities Fund IV, LP, listing the proposed members and their qualifications.

key_people:
Alan Turner
Andrew Johnson
Kirsten Le Pape
Vanessa Barrett

key_locations:
Cayman Islands
Bermuda
Ireland
UK
USA
Florida
Georgia
Virginia
San Francisco

document_subtype: Board of Directors Proposal

key_organizations: Cayman Islands Institute of Professional Accountants

key_organizations: American Institute of Certified Public Accountants


document_description: This document is a confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, involving Southern Financial LLC and Glendower Capital. It includes contact information for key individuals and organizations involved in the fund.

key_people:
Joshua C. Glaser
Carlo Pirzio-Biroli
Michael J. Murphy

key_locations:
New York, NY, United States
London, United Kingdom

key_organizations:
Glendower Capital (U.S.), LLC
Glendower Capital, LLP
Credit Suisse Asset Management Limited


document_description: The document contains an image with two triangular regions, one solid black and the other light gray with vertical lines, forming a larger triangle pointing towards the top right. It is marked as confidential under Federal Rule of Criminal Procedure 6(e).

document_type: other


document_description: This document outlines the servicing fees and compensation arrangements related to the Access Fund and the role of the Solicitation Agent. It details the fee structure based on the subscription amounts of DB Introduced Persons and the potential conflicts of interest due to financial incentives for the Solicitation Agent.

document_subtype: Disclosure Statement

key_organizations:
Southern Financial LLC
Access Fund
Glendower GP
Glendower Capital LLC
Solicitation Agent
iCapital


document_description: This document is a Limited Partner Subscription Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P., indicating a financial commitment to the partnership. It is marked as proprietary and confidential, and is subject to confidentiality rules under Federal Rule of Criminal Procedure 6(e).

title: Glendower Access Secondary Opportunities IV (U.S.), L.P. Limited Partner Subscription Agreement

document_subtype: Limited Partner Subscription Agreement