document_description: The document discusses the growth and prominence of GP-led Secondaries in the financial market, highlighting the increase in transaction volumes from 2006 to 2017. It provides a detailed table of GP-led secondaries transaction volumes and their percentage of the secondary market. The document also outlines factors driving the trend for general partners to organize liquidity solutions, such as the global financial crisis, proactive LP portfolio rebalancing, and the use of the secondary market by high-quality managers.


source: doj

document_description: The document discusses the competitive environment and strategies of the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the fund's positioning in the mid-sized segment of the secondary market, which is considered attractive for building diversified portfolios. The document also outlines the sourcing strategies of larger funds and the changing mix of sellers in the market.


document_description: The document outlines the investment strategy and process of the Glendower Capital Secondary Opportunities Fund IV, LP, focusing on mature fund interests with at least 50% drawn. It details the fund's approach to deal origination, screening, due diligence, investment decision-making, and monitoring. The fund aims to reduce 'blind pool risk' by investing in mature assets and employs a robust investment process to support its strategy.


document_description: The document outlines the investment strategy and process for the Glendower Capital Secondary Opportunities Fund IV, LP. It details the fund's approach to asset selection, due diligence, investment decision-making, and risk management. The fund focuses on identifying quality investment opportunities through a rigorous due diligence process and aims to align interests with fund sponsors and LPs. The document also describes the role of the Investment Committee in approving investments and the Glendower SOF Team's responsibilities in managing and closing transactions.


document_description: Glendower Capital is an independent investment firm focused on secondary private markets, formed by a team that spun out from Deutsche Asset Management in 2017. The firm, led by Carlo Pirzio-Biroli and Charles Smith, has raised and invested in four vehicles with $3 billion in commitments. The firm operates from London and New York with a team of 23, expected to grow. The fund management processes are based on those developed since 2006. The General Partner of the Fund is owned by Glendower Capital partners, with independent directors. The investment team consists of 16 professionals, with an investment committee evaluating and approving investments. The committee includes key members like Carlo Pirzio-Biroli and Charles Smith.


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP, detailing the summary of terms and conditions for potential investors.


document_description: The document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details about the General Partner's share, commitments, minimum commitment, capital contributions, team 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 describes the process for closings and the participation of subsequent closing partners.


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It details the investment period, reinvestment terms, key person events, and diversification restrictions. The investment period begins at the first closing and ends at the earliest of either 100% commitment investment or four years from the final admission date. Reinvestment terms allow certain distributions to be added back to unfunded commitments. Key person events involve specific individuals whose departure can suspend the investment period. Diversification restrictions limit investment percentages in single asset deals.


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP, including details on the General Partner's Share, distribution of net proceeds, and applicable points for commitments. It specifies the distribution hierarchy for net proceeds and the conditions under which the General Partner's Share is reduced. The document also defines terms such as 'Legacy Investor' and 'Carried Interest'.


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund N, LP. It includes details on fund dissolution, tax distributions, clawback provisions for the Special Limited Partner, organizational and operating expenses, transaction fees, and the establishment of a Fund Advisory Committee.


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on the Fund Advisory Committee, 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 Limited Partners and the Manager, including restrictions on successor funds, allocation of investment opportunities, and reporting requirements.


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on indemnification, removal of the General Partner, amendments to the Fund Partnership Agreement, default provisions, and the term of the fund. The document specifies the conditions under which the General Partner can be removed for cause or without fault, and the indemnification rights of Covered Persons. It also describes the process for amending the Fund Partnership Agreement and the consequences of a Limited Partner defaulting on their obligations.


document_description: This document is a summary of terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the currency denomination, tax considerations, ERISA considerations, risk factors, potential conflicts of interest, and the roles of special counsel and auditors. The fund is denominated in U.S. dollars and is intended to be tax transparent for UK investors and treated as a partnership for U.S. federal income tax purposes. The document advises prospective investors, especially those subject to ERISA, to consult their own advisers. It also highlights significant risks and potential conflicts of interest associated with investing in the fund. Debevoise & Plimpton LLP serves as special counsel, and auditors may include PricewaterhouseCoopers LLP, Deloitte Touche Tohmatsu, KPMG, or Ernst & Young LLP.


document_description: This document is a confidential private placement memorandum related to the Glendower Capital Secondary Opportunities Fund IV, LP. It is marked as confidential pursuant to Federal Rule of Criminal Procedure 6(e).


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


document_description: The document outlines various risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. Key risks include 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. These factors could significantly impact the fund's performance and the value of its investments.


document_description: The document outlines various risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights risks related to secondary investments in real estate, multiple levels of expenses, contingent liabilities, independent investment strategies of underlying funds, and lack of direct interest for investors in portfolio investments.


document_description: The document outlines various risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP. Key risks include limited ability to negotiate secondary transaction terms, potential for investments to extend beyond the fund's term, illiquidity of investments, restrictions on transfer and withdrawal, and performance risks. The fund is suitable only for sophisticated investors who can withstand potential total loss of investment.


document_description: The document outlines various 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 carried interest and amplified internal rates of return (IRRs) due to borrowing strategies. The document emphasizes that past performance data may not be indicative of current or future performance.


document_description: The document outlines the risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the competitive nature of the fund's business, the dependence on the manager and key personnel, the lack of operating history, and prior affiliations with Deutsche Bank. The document emphasizes that past performance is not indicative of future results and that there is no assurance of achieving the fund's investment objectives.


document_description: The document outlines various risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the past performance considerations due to the involvement of former Deutsche Bank employees, liquidity risks due to the illiquid nature of investments, potential distributions in kind, investor obligations and risks, uncertainties in payment timings, and risks associated with unspecified transactions.


document_description: The document outlines various risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP, focusing on global tax implications, changes in tax law, tax treatment, phantom income, risks from changes in the taxation of carried interest, and corporate offenses related to tax evasion. It highlights potential adverse effects on investors and the fund due to tax law changes, tax inefficiencies, and new legislation impacting carried interest taxation.


document_description: The document outlines various risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. Key risks include potential legal issues related to UK tax evasion, co-investment and counterparty risks, dilution from subsequent closings, and indemnification obligations. The Manager plans to implement procedures to prevent tax evasion facilitation but acknowledges potential legal challenges. Co-investment risks involve potential defaults by partners and misalignment of interests. Indemnification clauses may impact the Fund's financial condition and require investors to return distributions.


document_description: The document outlines various 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 related to the disposition of investments, recourse to all assets for liabilities, the discretion of the Manager over defaulting investors, and the challenges of expedited transactions. The document emphasizes the potential liabilities and obligations that investors may face.


document_description: The document outlines various risk factors associated with investments in the Glendower Capital Secondary Opportunities Fund IV, LP, particularly focusing on emerging markets risk, legal counsel conflicts, diverse investor interests, and sovereign status of certain investors. It highlights the potential political, regulatory, and economic risks in emerging markets, the lack of separate legal counsel for investors, potential conflicts of interest among diverse investors, and challenges in enforcing contractual obligations due to sovereign immunities.


document_description: The document outlines risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the potential for side letters that may grant certain limited partners more favorable terms than others, including reporting obligations, withdrawal rights, and fee payments. The document also highlights general market risks, economic conditions, interest rate impacts, and the effects of inflation and deflation on the fund's investments.


document_description: The document outlines various risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses potential regulatory changes, the impact of Brexit, and anti-money laundering compliance. The document highlights uncertainties in regulatory environments, potential market dislocations due to Brexit, and legal obligations for disclosing investor information.


document_description: This document outlines various risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It covers risks related to electronic communications, cybersecurity threats, compliance with pay-to-play laws, and the nature of forward-looking information. The document emphasizes the potential for electronic communications to be compromised, the cybersecurity risks faced by the fund and its service providers, the implications of non-compliance with pay-to-play regulations, and the uncertainties associated with forward-looking statements.


document_description: The document outlines 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: The 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 face 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 with differing tax and investment interests, allocation of broken deal expenses, investments by management team members, and the influence of Carried Interest on investment decisions.


document_description: The document discusses potential conflicts of interest related to the performance-based compensation structure of the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the role of the Fund Advisory Committee in identifying and addressing these conflicts, and the conditions under which the Manager may consult the Committee. The document also notes the confidentiality of the information under legal rules.


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It is marked as confidential pursuant to Federal Rule of Criminal Procedure 6(e).


document_description: This document is a section of the Confidential Private Placement Memorandum for the 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_type: legal

key_organizations:
Glendower Capital
BBR Partners


document_description: This document is a section from the Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It outlines certain legal, ERISA, and tax considerations, including valuation methods, fair treatment of investors, liquidity management, and professional liability risk. The document specifies that the fund will be valued based on U.S. GAAP and ASC 820 standards, with a valuation committee chaired by Deirdre Davies. It also discusses the fund's closed-ended nature and lack of investor redemption rights, as well as the professional indemnity insurance held by Glendower.

document_subtype: Private Placement Memorandum

key_organizations:
Glendower Capital
AIFMD


document_description: The document outlines legal and financial considerations for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on risk management, leverage, 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 no investments have been made. It also discusses the Depositary's responsibilities and limitations of liability.

key_organizations:
Glendower Capital
Aztec Financial Services (UK) Limited


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 the offering of interests in the fund, including securities law matters under the Securities Act of 1933. The interests will not be registered under U.S. or non-U.S. securities laws and will be offered to accredited investors in the U.S. The document also includes disclosures related to past regulatory settlements involving Credit Suisse and Raymond James regarding auction rate securities.

key_people:
Credit Suisse Securities (USA) LLC
Raymond James & Associates, Inc.
Raymond James Financial Services, Inc.

key_locations:
New York
Puerto Rico
Virgin Islands
District of Columbia

document_subtype: Confidential Private Placement Memorandum

key_organizations:
Glendower Capital
Credit Suisse
Raymond James


document_description: This document outlines the legal, ERISA, and tax considerations for Glendower Capital Secondary Opportunities Fund IV, LP, in relation to the U.S. 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 a company's equity securities, the avoidance of short-swing profit liability, exemptions from registration under the Investment Company Act, and the implications of the Advisers Act for the Manager and U.S. Adviser.

title: Certain Legal, ERISA and Tax Considerations for Glendower Capital Secondary Opportunities Fund IV, LP

key_people:
Manager
U.S. Adviser

document_subtype: Legal Considerations

reference_numbers:
Section 3(c)(7)
Section 16


document_description: The document is a section from a legal memorandum related to the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses exemptions from registration with the U.S. Commodity Futures Trading Commission (CFTC) for the Manager and General Partner under CFTC Regulation Section 4.13(a)(3). It also covers ERISA considerations for fiduciaries of employee benefit plans investing in the fund, including fiduciary duties and plan asset regulations.

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


document_description: This document outlines certain legal, ERISA, and tax considerations for the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the 25% Test for Benefit Plan Investors under ERISA, the requirement for plan administrators to report compensation on Form 5500, and U.S. federal income tax considerations for investors. The document also covers the treatment of the fund as a partnership for tax purposes and the implications of the Bipartisan Budget Act of 2015 on partnership audit procedures.

title: Glendower Capital Secondary Opportunities Fund IV, LP - Legal, ERISA and Tax Considerations

key_people:
Manager
General Partner


document_description: This section of the document discusses the legal, ERISA, and tax considerations for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the implications of partnership audit procedures, the treatment of dividends and passive foreign investment companies (PFICs), controlled foreign corporations (CFCs), and certain transactions that may generate taxable income without cash distribution. It also addresses restrictions on the deductibility of expenses and other losses for U.S. federal income tax purposes.


document_description: This document is a section from the Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It discusses legal, ERISA, and tax considerations for investors, including organizational expenses, investment interest limitations, qualified business income deductions, and implications for ERISA plans and non-U.S. investors. The document outlines potential tax liabilities and considerations for different types of investors, including non-corporate, tax-exempt, and non-resident alien investors.

key_organizations:
Glendower Capital
ERISA


document_description: This document outlines the tax considerations for non-U.S. investors in the Glendower Capital Secondary Opportunities Fund IV, LP, particularly focusing on the treatment of effectively connected income (ECI) and the implications of investing in U.S. real property holding corporations. It also discusses potential tax liabilities, withholding requirements, and reporting obligations for both U.S. and non-U.S. investors.

key_organizations:
Glendower Capital
Operating Partnership
U.S. federal income tax
IRS

reference_numbers:
Form 8865
Form 926
Form 8938


document_description: This document outlines the tax considerations for UK resident investors in the Glendower Capital Secondary Opportunities Fund IV, LP. 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 considerations

key_organizations:
Glendower Capital
HM Revenue & Customs


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 documentation and the potential consequences for non-compliance. The document also covers the Common Reporting Standard and other international tax reporting obligations.

key_locations:
United Kingdom
United States


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

document_type: financial


document_description: Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, associated with BBR Partners.


document_description: This document is a memorandum related to the distribution and offer of interests in the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal restrictions and requirements for offering these interests in various jurisdictions, including the European Economic Area, Denmark, Finland, and Germany. The memorandum specifies that the offer is limited to professional investors and details the compliance requirements for each jurisdiction.

document_type: correspondence

key_locations: Denmark Finland Germany

document_subtype: memorandum

key_organizations:
Glendower Capital
European Economic Area
AIFMD
Finnish Financial Supervisory Authority
FIN-FSA


document_description: This document is a Confidential Private Placement Memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the regulatory and marketing restrictions for offering the fund's interests in various countries, including the Netherlands, Sweden, the United Kingdom, Australia, and Bahrain. The memorandum specifies the legal frameworks and investor qualifications required in each jurisdiction.

key_locations:
The Netherlands
Sweden
United Kingdom
Australia
Bahrain

key_organizations:
Glendower Capital
BBR Partners
Finansinspektionen
FCA
Central Bank of Bahrain


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

title: Confidential Private Placement Memorandum

key_locations:
Brazil
Brunei Darussalam
Canada
Cayman Islands
Chile
China
Colombia

key_organizations: Securities and Insurance Supervisory Authority of Chile


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal restrictions and conditions for the solicitation and sale of interests in the fund in various jurisdictions, including Japan, Kuwait, and Mexico. The memorandum specifies the legal exemptions and requirements under the Financial Instruments and Exchange Law (FIEL) in Japan, the restrictions under Kuwaiti law, and the conditions under the Mexican Securities Market Law. It emphasizes the confidentiality of the document and the risks associated with the investment.

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 considerations and restrictions for offering and selling 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 about the language of the document and the non-intent to offer securities in certain regions.

key_locations:
Mexico
Monaco
New Zealand
Oman

key_organizations:
Glendower Capital
BPP Partners


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 jurisdictions and are offered to institutional investors only. It also highlights the limitations and legal disclaimers associated with the offering.

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

key_organizations: Qatar Financial Centre Regulatory Authority


document_description: This document is a Confidential Private Placement Memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the terms and conditions for investment, including the possibility of rebates for Limited Partners, restrictions on offering in Taiwan and the UAE, and legal disclaimers for the USA. The memorandum emphasizes that the fund is not regulated by UAE authorities and that prospective investors should seek professional advice.

key_locations:
Switzerland
Taiwan
United Arab Emirates
United States of America

key_organizations: Central Bank of the United Arab Emirates

key_organizations: UAE Securities and Commodities Authority

reference_numbers: SCA Board of Directors' Chairman Decision No. (9/R.M) of 2016

reference_numbers: Chairman of the SCA Board of Directors Decision No. 3/R.M. of 2017


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 other securities laws and are offered only to qualifying recipients under specific exemptions. The document emphasizes the risks and restrictions associated with the investment, including the lack of a public market and the indefinite period for bearing financial risks.


document_description: This document is a privacy notice for investors in the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines how personal data of investors, both natural and non-natural persons, will be processed and shared by Glendower Capital, LLP, the data controller. The notice details the types of personal data collected, the reasons for data processing, and the entities with whom data may be shared. It also covers data transfer outside the EEA and the rights of investors regarding their personal data.

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

document_subtype: Privacy Notice


document_description: The document outlines the rights of individuals regarding their personal data in relation to Glendower Capital Secondary Opportunities Fund IV, LP. It details the rights to rectification, erasure, restriction of processing, and data portability. It also provides contact information for exercising these rights and mentions the role of the UK Information Commissioner's Office as a supervisory authority.

key_locations: 16 Berkeley Street, London, W1J 80Z, United Kingdom

key_organizations:
Glendower Capital LLP
UK Information Commissioner's Office


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 terms related to the fund, such as Depositary Agreement, Deutsche Asset Management, Deutsche Bank, DOL, DPI, ECI, Eligible Investors, ERISA, EU AIF, Exchange Act, FATCA, FCA, Feeder Fund, FFI, Final Admission Date, First Closing, FMV, foreign passthru payments, and FSMA.

document_type: tabular

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


document_description: This document provides detailed information about the Glendower Capital Secondary Opportunities Fund N. LP, including definitions and descriptions of various terms related to the fund's structure, management, and investment strategies. It includes information about the Fund Advisory Committee, Fund Documents, Fund Partnership Agreement, and other key components of the fund.


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the investment period, platforms, restrictions, and key persons involved in the fund. The memorandum includes definitions and terms related to the fund's operation and investment strategies.

key_people:
Charles Smith
Carlo Pam-Birch
Adam Graev
Chi Cheung
Carlo Pirzio-Brroli

key_organizations:
Glendower
BBR Partners
IRS
OECD


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 involved in the fund, including the Second GP and the Special Limited Partner.

key_locations:
Cayman Islands
Scotland
England

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
United Kingdom

key_organizations:
Glendower Capital
BBR Partners


document_description: This document provides important performance information for the Glendower Capital Secondary Opportunities Fund IV, LP, including definitions and explanations of various financial metrics such as DPI, Gross IRR, Net IRR, NAV, and 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: Glendower Capital Secondary Opportunities Fund IV, LP - Important Performance Information


document_description: This document is a directory listing various entities associated with the Glendower Capital Secondary Opportunities Fund W. LP, including the fund manager, special counsel, auditors, depositary, fund administrator, and placement agents.

title: Glendower Capital Secondary Opportunities Fund W. LP - Appendix 6 Directory

document_subtype: directory

key_organizations: Glendower Capital Secondary Opportunities Fund IV, LP


document_description: The document proposes the individuals who will comprise the board of directors of the General Partner for Glendower Capital Secondary Opportunities Fund IV, LP. The proposed members are Alan Turner, Andrew Johnson, Kirsten Le Pape, and Vanessa Barrett, each with extensive experience in financial services and fund management.

title: Board of Directors of the General Partner

key_people:
Alan Turner
Andrew Johnson
Kirsten Le Pape
Vanessa Barrett

key_locations:
Cayman Islands
Bermuda
Ireland
UK
USA
London
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: The document is a disclosure statement involving Deutsche Bank Securities Inc. (Solicitation Agent), Glendower Access Secondary Opportunities IV GP LLC, and iCapital Advisors, LLC. It outlines an agreement where the Solicitation Agent will solicit clients for investment in Glendower Access Secondary Opportunities IV funds. The document details the compensation structure for the Solicitation Agent, including a one-time Placement Fee and a quarterly Servicing Fee based on the client's subscription amount.

document_subtype: Disclosure Statement


document_description: A document marked as confidential under Federal Rule of Criminal Procedure 6(e).

document_type: other


document_description: This document is a Limited Partner Subscription Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P., marked as proprietary and confidential.

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

document_subtype: Limited Partner Subscription Agreement


document_description: Instructions for investors interested in purchasing a limited partner interest in Glendower Access Secondary Opportunities IV (U.S.), L.P. The document outlines the steps to complete the Subscription Agreement, including sections for individuals and entities, initial capital contribution requirements, and client identification documents needed.

title: Instructions for Investors in Glendower Access Secondary Opportunities IV (U.S.), L.P.

document_subtype: Investment Instructions


document_description: This document is a Limited Partner Subscription Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P., a Delaware limited partnership. It references the Private Placement Memorandum and the Amended and Restated Limited Partnership Agreement. The agreement outlines the terms for an investor to subscribe to a limited partnership interest in the partnership, which aims to invest in Glendower Capital Secondary Opportunities Fund IV, LP, an English private fund limited partnership. The minimum subscription amount is $250,000.

key_people:
Investor
General Partner

key_locations: 60 East 42nd Street, 26th Floor, New York, NY 10165

key_organizations: Glendower Access Secondary Opportunities IV GP LLC


document_description: This document outlines the terms and conditions for an investor purchasing an interest in a partnership. It includes representations and warranties by the investor, restrictions on transfer and resale, and the investor's status as an accredited investor and U.S. tax person. The document emphasizes the risks involved, including the potential for a complete loss of capital, and the lack of a public market for the interest.

document_subtype: investment agreement


document_description: This document outlines the terms and conditions for an investor's capital contribution to a partnership managed by BBR Partners. It includes clauses on full contribution requirements, the investor's review of exhibits, liquidity needs, investment objectives, securities laws, and regulatory matters related to the U.S. Commodity Futures Trading Commission (CFTC).

document_subtype: Investment Agreement


document_description: This document outlines the terms and conditions for an investor entity participating in a partnership, ensuring compliance with the Securities Exchange Act of 1934 and Rule 506 of the Securities Act. It includes provisions for the investor's legal standing, authority, and obligations in case of disqualifying events.


document_description: This document outlines the terms and conditions related to the partnership interests and legal representations for investors in a partnership involving BBR Partners. It specifies the tax classification of the partnership, restrictions on transferring interests, and clarifies that the partnership's legal counsel does not represent individual investors. It also includes a privacy notice regarding the handling of investors' financial information.

key_people:
Cleary Gottlieb Steen & Hamilton LLP
Maples and Calder

document_subtype: partnership agreement

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


document_description: The document outlines compliance requirements for investors, prohibiting involvement with sanctioned parties, non-cooperative jurisdictions, senior foreign political figures, and foreign shell banks. It also ensures that investments are not derived from prohibited activities.

key_locations:
United States
UK

document_subtype: legal compliance document

key_organizations:
BBR Partners
Financial Action Task Force
Financial Crimes Enforcement Network
U.S. Treasury Department


document_description: The document outlines the investor's compliance with anti-money laundering laws and sanctions in relation to their investment in a partnership. It includes representations about the source of funds, compliance with U.S. and UK laws, and the investor's due diligence on beneficial owners.

document_subtype: Subscription Agreement


document_description: This document outlines the confidentiality obligations of an investor in a partnership, including the handling of Non-Public Information and conditions under which such information can be disclosed. It also addresses the investor's obligations under the Freedom of Information Act (FOIA) and similar laws.

document_subtype: confidentiality agreement


document_description: The document outlines the terms and conditions for an investor in Glendower Capital Secondary Opportunities IV, LP, an English private fund limited partnership. It specifies that the investor will not be a limited partner of the fund, will have no direct interest or voting rights, and waives rights against the fund and its manager. It also details the fees and expenses the investor will be subject to and includes representations for 'Plan Investors' under ERISA.


document_description: The document outlines the terms of a Partnership Agreement involving BBR Partners and iCapital Securities, LLC. It specifies the responsibilities and liabilities of the General Partner and the Investor, emphasizing that the General Partner has the discretion to make investment decisions. The document clarifies that neither the General Partner nor iCapital provides investment advice in a fiduciary capacity unless agreed in writing. It also highlights the Investor's responsibility to exercise independent judgment and consult their own advisers. The document stresses the importance of understanding the Partnership's objectives, risks, and conflicts of interest.

key_people:
General Partner
Investor Fiduciary

document_subtype: Partnership Agreement

key_organizations:
BBR Partners
iCapital Securities, LLC


document_description: This document outlines the terms and conditions of an investment management agreement involving BBR Partners and iCapital. It includes details about the Investor Fiduciary's responsibilities, risks, fees, and conflicts of interest associated with the investment in the Partnership. The document also specifies the legal and regulatory compliance required for the execution of the agreement.

key_organizations:
BBR Partners
iCapital


document_description: This document outlines the fiduciary responsibilities and conditions under which an Investor Fiduciary can make a proposed purchase of an Interest in a partnership. It specifies the qualifications and independence of the Investor Fiduciary, the permissibility of the purchase under ERISA and the Code, and the conditions under which the transaction is not considered prohibited.


document_description: This document outlines the terms and conditions for investors acquiring interests in a partnership, including provisions for individual retirement accounts, insurance company general accounts, and non-U.S. employee benefit plans. It includes representations and covenants by investors regarding compliance with ERISA and other regulations.


document_description: This document outlines the terms and conditions for the sale and purchase of interests in a partnership, including capital contributions, agreements with other limited partners, and representations and warranties of the partnership and the general partner. It specifies the organizational standing of the partnership, governmental and regulatory approvals, sale of interests, and due execution and delivery of the agreement.

key_people:
General Partner
Investor


document_description: This document is a legal agreement related to the subscription of an interest in a partnership, detailing the power of attorney granted to the General Partner and Investment Manager, expenses, amendments, and conditions for subscription acceptance.

key_people: Glendower Access Secondary Opportunities IV GP LLC


document_description: This document is an investment agreement between an investor and a partnership, detailing the investor's representations, obligations, and indemnity clauses. It includes provisions for confirming representations, providing additional investor information, and handling capital contributions through a financial advisor account. The investor agrees to indemnify the partnership and related parties against losses arising from breaches of representations or agreements.


document_description: The document outlines the responsibilities and agreements of an investor in a partnership, including compliance with tax regulations and consent to receive electronic Schedule K-1 forms.


document_description: This document outlines the terms and conditions of a partnership agreement between an investor and a partnership, including withdrawal of consent, contact information updates, access requirements for Schedule K-1, and general legal provisions. It specifies the binding nature of the agreement, jurisdiction, and the requirement for the investor to complete and sign a signature page.

key_locations: 60 East 42nd Street, 26th Floor, New York, NY, 10165

key_organizations:
BBR Partners
iCapital Network


document_description: A confidential financial document related to BBR Partners, marked as proprietary and confidential, with references to federal rules and specific identifiers.

document_subtype: account statement


document_description: This document is an investment form from BBR Partners, requiring prospective investors to complete information based on their status as individuals or entities. It includes sections for personal or organizational details, tax information, and contact information.

document_subtype: investment form


document_description: A form related to BBR Partners with sections for employment status, tax year end, employer, FOIA Partner status, and occupation. The form is marked as proprietary and confidential.

document_subtype: form


document_description: This document is a signature page for the General Partner of a partnership, accepting a subscription for an amount of interest either specified or equal to the Limited Partner's request. The document is proprietary and confidential.

document_subtype: General Partner Signature Page


document_description: Wire instructions for initial capital contribution and distributions for a partnership investment. Includes sections for beneficiary bank details, U.S. correspondent/intermediary bank details, and source of funds options.

document_subtype: wire instructions


document_description: A form for investors to provide contact information for receiving communications related to their investment in a partnership. It includes options for involving a financial advisor and additional individuals in correspondence.

document_subtype: investment communication


document_description: The document contains placeholders for investor information related to BBR Partners, with fields for name, relationship to investor, email, and phone left empty. It is marked as proprietary and confidential, and is subject to confidentiality under Federal Rule of Criminal Procedure 6(e).


document_description: This document is an exhibit for entities such as partnerships, trusts, and corporations to declare their accredited investor status. It outlines various categories under which an entity can qualify as an accredited investor according to the Securities Act and related regulations.

title: Exhibit C - Accredited Investor Status for Entities

document_subtype: Accredited Investor Status Form


document_description: The document outlines criteria for an employee benefit plan to qualify as an accredited investor under the Employee Retirement Income Security Act of 1974. It specifies conditions such as having total assets in excess of $5,000,000 or being managed by a plan fiduciary.

document_subtype: investment document


document_description: This document outlines the criteria under which an investor is considered a 'qualified purchaser' under the Investment Company Act. It provides specific conditions that must be met by entities such as companies, partnerships, or trusts to qualify as investors. The document is intended for entities and not individual investors.

title: Exhibit D - Investment Company Act Representations

document_subtype: Investment Company Act Representations


document_description: This document is an exhibit applicable to 'Plan Investors' which includes U.S. pension or employee benefit plans subject to ERISA, U.S. plans or accounts subject to Section 4975 of the Internal Revenue Code, entities holding 'plan assets', and fiduciaries managing such assets. It contains representations and warranties that Plan Investors must confirm regarding their status and the nature of their assets.

title: Plan Investor Representations

document_subtype: Exhibit


document_description: This document is an investment agreement related to a Plan Investor's involvement with a partnership. It includes representations and warranties that the investor must agree to if they answered 'Yes' to certain questions about being an 'employee benefit plan' organized outside the U.S. The document outlines the independence of fiduciaries making investment decisions and the non-involvement of the General Partner or Administrator in providing investment advice.

document_subtype: investment agreement


document_description: The document outlines the structure, strategy, and terms of the Glendower Access Secondary Opportunities Fund IV (U.S.), L.P., which invests in the Glendower Capital Secondary Opportunities Fund IV L.P. It includes details on fund structure, investment strategy, minimum commitment, fund term, capital calls, reporting, fees, and carried interest.

title: GLENDOWER ACCESS SECONDARY OPPORTUNITIES FUND IV (U.S.), L.P.

key_people: Glendower Access Secondary Opportunities IV GP LLG

document_subtype: Investment Fund Document

key_organizations:
iCapital Network
Glendower Capital
DBSI


document_description: This document provides important information about the Glenowder Access Secondary Opportunities IV (U.S.), L.P., highlighting the potential risks and fees associated with investing in the Access Fund compared to the Underlying Fund. It outlines the speculative nature of alternative investments, the lack of liquidity, potential for loss, and higher fees. It also clarifies the limited rights of investors in the Access Fund compared to those in the Underlying Fund.

document_subtype: investment information

key_organizations:
BBR Partners
Institutional Capital Network, Inc.
Capital Network


document_description: The document outlines the offering for Glendower Capital Secondary Opportunities Fund IV, LP, a private equity secondary fund. It details the fund's strategy, performance metrics, and key terms, targeting US$1.75 billion in commitments. The fund is managed by Glendower Capital, an independent secondary manager spun-off from Deutsche Asset Management.

title: Glendower Capital Secondary Opportunities Fund IV, LP Offering

key_people:
Cario Pirzio-Biroli
Charles Smith
Joshua C. Glaser

key_locations:
London
New York

document_subtype: Investment Offering

key_organizations:
Glendower Capital
Deutsche Asset Management


document_description: This document provides a financial overview of Glendower Capital SOF IV, L.P., including performance figures, fund structures, and investment strategies as of September 30, 2017. It includes details on the SOF Program, fund benchmarks, and key definitions related to fund investments.

title: Glendower Capital SOF IV, L.P. Financial Overview

key_people:
Glendower Capital LLP
Mirabella Advisers LLP

key_locations:
United Kingdom
North America
Europe
Asia

document_subtype: Confidential Financial Document

key_organizations:
Glendower Capital
Mirabella Advisers LLP
Cambridge Associates


document_description: This document is a presentation from Glendower Capital SOF IV, LP, providing important information about forward-looking statements, investment performance, and track record. It includes disclaimers about the reliability of projections, the responsibility of Credit Suisse, and the legal status of the presentation. The document also details the history and performance of the Glendower SOF Team, which spun off from Deutsche Bank in 2017, and provides information on investment returns and valuations.

key_people:
Carlo Pirzio-Biroll
Charles Smith
Chi Cheung
Francesco Rigamonti
Adam Graey

key_organizations: Deutsche Alternative Asset Management (Global) Limited


document_description: This document contains legal disclaimers and distribution restrictions for a presentation related to Glendower Capital SOF IV, LP. It outlines the legal framework and restrictions for distributing the presentation in various jurisdictions including the EEA, UK, Australia, Bahrain, Brazil, Brunei, Canada, Chile, and China. The document specifies the conditions under which the presentation can be shared and the legal obligations of recipients in these regions.

key_locations:
European Economic Area
United Kingdom
Australia
Bahrain
Brazil
Brunei
Canada
Chile
China

document_subtype: legal disclaimer

key_organizations:
Glendower Capital
Credit Suisse Group
Central Bank of Bahrain
Brazilian Securities Commission
Autoriti Monetari Brunel Darussalam
Registrar of Companies
Superintendencia de Valores y Seguros
People's Republic of China Government

reference_numbers:
Directive (2011/61/EU)
Financial Services and Markets Act 2000
Australian Corporations Act 2001
Banking Act 1959
Brunei Securities Market Order, 2013
National Instrument 31-103
Ley de Mercado de Valores


document_description: This document contains legal disclaimers for the distribution of marketing material related to Glendower Capital SOF IV, L.P. in various jurisdictions including Colombia, France, Guernsey, Haiti, Hong Kong, Israel, and Japan. It outlines the legal restrictions and requirements for offering financial products in these regions.

title: Legal Disclaimers for Various Jurisdictions

key_locations:
Colombia
France
Guernsey
Haiti
Hong Kong
Israel
Japan

document_subtype: Legal Disclaimer

key_organizations: Securities and Futures Commission of Hong Kong

key_organizations: Credit Suisse Securities (Japan) Limited


document_description: This document contains legal disclaimers for Glendower Capital SOF IV, L.P., addressing potential investors in St. Kitts and Nevis, UAE/Abu Dhabi/Dubai, and the United States. It outlines the non-registration of the fund with local regulatory authorities and the associated risks of investment.

key_locations:
St. Kitts and Nevis
UAE
Abu Dhabi
Dubai
United States

key_organizations: Financial Services Regulatory Commission


document_description: This document is a supplemental disclosure by Deutsche Bank Securities Inc. and Deutsche Bank Trust Company Americas, acting as a solicitation agent for a fund. It outlines the nature of the information provided, the risks involved in transactions, and the lack of guarantees on securities. It also clarifies that Deutsche Bank does not provide accounting, tax, or legal advice and authorizes the disclosure of transaction structure and tax aspects.

document_subtype: Supplemental Disclosure

key_organizations:
Deutsche Bank Securities Inc.
Deutsche Bank Trust Company Americas
Deutsche Bank


document_description: This document is a presentation for informational and discussion purposes regarding Glendower Capital Secondary Opportunities Fund IV, LP and Glendower Access Secondary Opportunities IV (U.S.), L.P. It is not legal, tax, or investment advice, nor an offer to sell or buy interests in the funds. The presentation emphasizes the importance of consulting the Offering Memorandum for detailed information, risk factors, and potential conflicts of interest. It highlights the high-risk nature of the investment, potential for capital loss, and the impact of fees on returns.

document_subtype: investment presentation

key_organizations:
Glendower Capital
BBR Partners
iCapital Network


document_description: The document provides important information about the Access Fund, including risks and considerations for alternative investments. It highlights that historical returns do not include fees and expenses, and benchmarks are for illustrative purposes only. It outlines the risks associated with alternative investments, such as loss of investment, lack of liquidity, volatility, and complex tax structures. The document also clarifies the relationship between purchasers of interests and the Access Fund, and mentions iCapital Advisors, LLC as the investment adviser.

key_organizations:
BBR Partners
iCapital Advisors, LLC
Institutional Capital Network, Inc.
iCapital Network


document_description: A confidential document related to the Glendower Capital Secondary Opportunities Fund IV, LP for the second quarter of 2018, intended for accredited investors and qualified purchasers only.

document_subtype: investment fund document

key_organizations:
Glendower Capital
BBR Partners


document_description: This confidential presentation by Glendower Capital, LLP is intended for a limited number of sophisticated recipients to provide summary information about existing and future funds managed by Glendower, including the Glendower Capital Secondary Opportunities Fund IV, LP. It is strictly confidential and not an offer to sell or solicit any transaction. Recipients are advised to consult their own legal, business, and tax advisers.

document_subtype: confidential presentation

key_organizations: United Kingdom Financial Conduct Authority


document_description: The document provides an overview of secondary private equity investments, explaining the differences between primary and secondary private equity investments. It describes the secondary private equity market as a liquidity tool for primary PE investors and outlines its expansion over the last two decades.

document_subtype: memo

key_organizations:
BBR Partners
Glendower Capital


document_description: The document discusses the strength of the secondary private equity market, highlighting a deal volume of US$58 billion in 2017. It notes stable pricing for funds, with increasing price dispersion between high and low-quality GPs/funds. GP-led deals and bespoke liquidity solutions are evolving, representing 24% of the market. The supply of tail-end funds is steady, with a decreasing overall US$ value due to smaller remaining NAV.

title: Why invest in secondary private equity today?

document_subtype: presentation slide


document_description: This document contains information about Glendower Capital's investment strategy, secondary market updates, and key terms for their Secondary Opportunities Fund IV. It is marked as strictly confidential and is related to financial strategies and updates.

title: Glendower Capital Document


document_description: Glendower Capital is launching the Secondary Opportunities Fund IV (SOF IV) to continue its value-investing strategy. The fund seeks $1.75 billion in commitments, with a first close of $1.3 billion expected in May 2018. The fund focuses on secondary private equity investments globally, with a strong performance track record from previous funds.

title: Glendower Capital Secondary Opportunities Fund IV Overview

key_locations:
United States
Europe

document_subtype: Investment Fund Overview


document_description: Glendower Capital is an independent partnership that spun off from Deutsche Bank in 2017. The senior team has been active in the secondary market since 2003, managing US$3 billion in client assets with offices in London and New York. The team has invested in over 350 fund interests across 90 deals and has developed integrated operational processes over 10 years.

title: Glendower Capital Overview

key_people:
Carlo Pirzio-Biroli
Charles Smith
Chi Cheung
Deirdre Davies
Francesco Rigamonti
Adam Graev

document_subtype: investment overview

key_organizations:
Glendower Capital
Deutsche Bank


document_description: This document provides an overview of the Glendower Capital team, listing core members, their roles, locations, years of experience, and educational backgrounds. It includes managing partners, partners, vice presidents, associates, and other key positions within the organization.

key_people:
Carlo Pirzio-Biroli
Charles Smith
Adam Graev
Chi Cheung
Deirdre Davies
Joshua Glaser
Emilio Olmos
Francesco Rigamonti
Rikesh Mohandoss
Devrup Banerjee
Aldrich Chan
Philippe Ferneini
Victoria Loidl
Elena Smirnova
Jonathan Roome
Doug O'Connell
Rafael Enriquez - Hesles
Sheldon Lee
Helena Turley
Louise Schoeman
Katherine Weaver
Maxine Turner
Maria Gianoli-Franklin

document_subtype: organizational chart

key_organizations:
Glendower Capital
Deutsche Bank
Bankers Trust
Coopers & Lybrand
CDB Web Tech
General Electric
The Boston Consulting Group
Pomona
Lehman Brothers
Chatterjee/Soros
Cowen
ABN Amro
KPMG
Paul Capital
Forum Capital
CIBC Oppenheimer
ADIA
LIDS
Credit Suisse
Gallo & Co.


document_description: The document provides a detailed performance report of various SOF funds managed by Glendower Capital as of September 30, 2017. It includes information on fund vintages, sizes, transaction numbers, gross and net multiples, IRR, and net distributed values. The report emphasizes that past performance is not indicative of future results and includes a note on currency conversion for SOF D.

title: SOF Funds Performance as of September 30, 2017

document_subtype: financial report


document_description: The document compares the performance of SOF Funds against Cambridge Associates' secondary funds, focusing on net IRR and net multiples to limited partners. It includes a table of Index DPI and RVPI from 2004 to 2014, and SOF funds DPI and RVPI for 2010 and 2011. The document also discusses quartile rankings and the methodology for calculating performance metrics.

title: SOF Funds vs Cambridge Associates' Secondary Funds Performance

document_subtype: financial performance report

key_organizations:
BBR Partners
Cambridge Associates
Glendower Capital


document_description: The document is a financial performance report comparing SOF Funds to Cambridge Associates' buyout top-quartile benchmark. It includes metrics like TVPI and DPI, and Net IRR for various vintage years. The report highlights the performance of SOF, SOF D, SOF II, and SOF III funds against the benchmark, showing buyout-like returns with a secondary risk profile.

key_organizations:
BBR Partners
Cambridge Associates
Glendower


document_description: The document provides an overview of the performance of SOF Funds, including SOF, SOF II, and SOF III, across different fund sizes, vintages, and economic cycles. It includes metrics such as Net Contributed Capital, Net IRR, DPI, and TVPI over various quarters from inception. The performance figures are based on unaudited results as of September 30, 2017, and emphasize that past performance is not indicative of future results.

title: SOF Funds Performance Overview


document_description: The document provides a market segmentation analysis of SOF funds positioned as mid-sized value investors. It categorizes funds based on size, strategy, and number of players from 1996 to 2018. It includes specific SOF funds raised in 2006, 2010, 2014, and 2016.

title: SOF Funds Market Segmentation Analysis

document_subtype: fundraising analysis


document_description: Glendower's investment strategy focuses on disciplined bottom-up underwriting of attractive assets managed by quality managers. The strategy includes sourcing less competitive deals globally, pursuing a selective value approach, buying with a margin of safety, and focusing on efficient portfolio construction. The document provides details on average deal sizes, transaction percentages, and portfolio diversification strategies.

title: Glendower Investment Strategy Overview

key_organizations:
Glendower
BBR Partners


document_description: The document outlines a disciplined barbell approach by BBR Partners, adjusted to market cycles, focusing on different types of secondary deals in the financial market. It includes descriptions and expected returns for fund secondaries, GP-led secondaries, and single asset deals, along with market estimates and performance data from Glendower Capital.

document_subtype: financial presentation


document_description: The document discusses the evolution and advantages of GP-led transactions, highlighting Glendower Capital's experience and strategy in this area. It outlines the benefits of GP-led opportunities over traditional LP interest acquisitions, including accretive strategies, in-depth due diligence, bespoke fund design, and limited leverage use.


document_description: The document provides illustrative case studies of GP-led transactions and single asset deals managed by Glendower Capital. It includes details on deal sizes, discounts, funds, assets, regions, sellers, and descriptions of each project or fund.


document_description: The document provides an analysis of secondary market volumes from 2006 to 2018, highlighting that secondary market volume remains at record levels with GP-led transactions now representing 25% of the volume. The forecast for 2018 is over US$60 billion.

title: Secondary Market Volume Analysis

document_subtype: market analysis

key_organizations:
BBR Partners
Glendower Capital
Greenhill GP Solutions
Dow Jones Private Equity Analyst


document_description: The document provides data on the growth of the global private equity (PE) market, highlighting the increase in total PE assets to US$2.8 trillion. It includes tables showing unrealized portfolio values, dry powder, and total values from 2007 to 2017, as well as annual secondary volumes as a percentage of total PE assets. The data is sourced from the 2018 Preqin Global Private Equity & Venture Capital Report and other industry reports.

title: Secondary Market Driven by Global PE Market Growth


document_description: The document provides an analysis of secondary market pricing for private equity fund interests, highlighting stable pricing trends from 2011 to 2017. It includes a table showing secondary market volume and pricing from 2005 to 2017, indicating market phases such as 'Bubble', 'Crisis', and 'Normalized'.

document_subtype: financial analysis

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


document_description: The document provides an analysis of unrealized private equity value in pre-crisis vintages, totaling US$600bn, and a breakdown of seller composition in the market. It includes a table showing the distribution of unrealized value across different years and economic periods, as well as a table detailing the percentage composition of different seller types.

title: Private Equity Value and Seller Composition


document_description: The document provides an analysis of GP-led transactions in the secondary market, highlighting their growth and significance. It includes a table showing the volume and percentage of GP-led secondaries from 2006 to 2017, and discusses motivations and trends in the market.

title: GP-led Transactions in the Secondary Market

key_organizations:
BBR Partners
Glendower Capital
BC Partners
EQT
Diamond Castle
Nordic Capital
One Equity Partners
Warburg Pincus
Investindustrial
Enhanced Healthcare Partners
Leni Point Capital
Duke Street
Quadriaga Capital
GMT
Arco Real Estate
Pollen Street Capital
Zurmont Madison
Stage


document_description: This document is a confidential financial report from Glendower Capital, detailing their investment strategy, updates on secondary markets, and key terms for their Secondary Opportunities Fund IV. It includes sections on the introduction, investment strategy, market updates, fund updates, and an appendix.


document_description: The document provides a financial overview of the SOF Ill Portfolio managed by BBR Partners, including gross invested capital breakdown, sector composition, and investment strategy as of September 30, 2017. It includes details on fund size, capital called, distributions, remaining NAV, and total net return. The document also outlines the geographical and sectoral distribution of investments.

title: SOF Ill Portfolio - Highlights


document_description: The document lists 28 General Partners (GPs) representing approximately 90% of SOF III's current exposure based on Fair Market Value as of September 30, 2017. It includes various investment firms and funds across different sectors such as Buyout, Real Estate, and Growth Equity.

title: SOF III Portfolio - Sponsor Exposure

key_organizations:
BBR Partners
Gilde
KKR
NAVIS
HIGHSTAR CAPITAL
CENTRE
Bridgepoint
NEUBERGER BERMAN
TDR Capital
LANE
LONG POINT CAPITAL
GMT
COLONY
NORTHSTAR
DUKE STREET
ASTRA
Quadrangle
Morgan Stanley
STAGE
ARCO REAL ESTATE
CANTAL
TURKVEN
UNLU & Co
SMITHFIELD
TCV
Zurmont Madison
octopus ventures
AUGENS
Amadeus Capital Partners
Palamon Capital Partners
Glendower Capital


document_description: The document outlines the near-term investment pipeline for SOF IV as of March 31, 2018, detailing various projects, their deal types, regions, stages, sourcing methods, deal sizes, and SOF IV investments. It includes projects like Sunrise, Klein, Penguin II, and others, with investments ranging from $6 million to $1.4 billion.

title: SOF IV - Near term pipeline

key_locations:
North America
EMEA
Global
APAC

document_subtype: investment pipeline


document_description: This document outlines the key investment data and transaction summary for Project Sunrise, a GP-led secondary deal expected to close in April 2018. The investment involves mid-market buyout strategy in the US consumer industry, focusing on franchisees of dining brands and a fitness brand. The document details the investment rationale and Glendower Team's approach.

title: SOF IV - Project Sunrise

document_date: April 2018

document_subtype: Investment Summary


document_description: The document is a confidential report from Glendower Capital, detailing their investment strategy, secondary market updates, and key terms for their Secondary Opportunities Fund IV. It includes an appendix with additional information.

title: GLDUS124 BBR Partners


document_description: Key terms for the Glendower Capital Secondary Opportunities Fund IV, LP, including target size, structure, investment period, term, minimum commitment, team commitment, general partner share, carried interest, hurdle rate, and clawback provisions.

title: SOF IV - Master Fund Key Terms

document_subtype: investment fund terms


document_description: This document contains an introduction to Glendower Capital, details about their investment strategy, updates on the secondary market, and information on their Secondary Opportunities Fund IV. It is marked as strictly confidential and is subject to confidentiality rules under Federal Rule of Criminal Procedure 6(e).

title: Glendower Capital Document


document_description: This document provides biographies of key team members at Glendower Capital, including Carlo Pir210-Biroli, Charles Smith, Adam Graev, and Chi Cheung. It details their roles, previous experience, and educational background.

title: GLDUS124 BBR Partners Team Bios

key_people:
Carlo Pir210-Biroli
Charles Smith
Adam Graev
Chi Cheung

document_subtype: team bios

key_organizations:
Glendower Capital
Deutsche Bank
General Electric
The Boston Consulting Group
Pomona Capital
Lehman Brothers
Chatterjee Group
Soros Fund Management
Cowen & Co


document_description: This document provides biographies of key team members at BBR Partners, detailing their professional backgrounds and educational qualifications. The team members include Rikesh Mohandoss, Devrup Banerjee, Aldrich Chan, and Philippe Ferneini, each with significant experience in finance and investment banking.

title: GLDUS124 BBR Partners Team Bios

key_people:
Rikesh Mohandoss
Devrup Banerjee
Aldrich Chan
Philippe Ferneini

key_locations:
New York
London

key_organizations:
BBR Partners
Deutsche Bank
Bank of America
Freddie Mac
Goldman Sachs
UBS
Credit Suisse
Booz & Company
Glendower Capital


document_description: This document provides biographies of team members at Glendower Capital, detailing their roles, previous experience, and educational background.

title: GLDUS124 BBR Partners Team Bios

key_people:
Victoria Loidl
Elena Smirnova
Jonathan Roome
Douglas O'Connell

key_organizations: Carnegie Mellon's Tepper School of Business


document_description: This document provides a detailed transaction summary for SOF III as of September 30, 2017, including project names, sourcing, seller types, deal types, funds, invested and funded capital, initial closing dates, gross multiples, and portfolio details.

title: Overall transaction summary as of September 30, 2017

document_subtype: transaction summary


document_description: The document provides a breakdown of the gross invested capital for SOF II as of September 30, 2017. It includes details on fund size, capital called, distributions, remaining NAV, and total net return. The asset geography and investment strategy are also outlined, along with sector composition and vintage year distribution.

title: SOF II — Portfolio construction


document_description: This document provides a summary of various financial transactions managed by BBR Partners under the SOF II fund as of September 30, 2017. It includes details on project names, sourcing, seller types, deal types, funds, companies involved, invested and funded capital, initial closing dates, gross multiples, and portfolio details.

key_locations: Europe US Global


document_description: This document provides an overview of the remaining portfolio construction by FMV1 as of September 30, 2017, including fund size, invested capital, capital called, distributions, remaining NAV, and total net return. It also details asset geography, investment strategy, vintage year, and sector composition.

title: GLDUS124 BBR Partners SOF Remaining portfolio construction

key_locations:
Europe
North America


document_description: This document provides a financial summary of various investment projects managed by BBR Partners as of September 30, 2017. It includes details on project names, sourcing, seller types, deal types, funds, invested and funded capital, initial closing dates, gross multiples, and portfolio details. The document also includes notes on the performance figures and specific transactions like the Hoover transactions.

document_subtype: financial summary


document_description: This confidential presentation by Glendower Capital LLP provides summary information about existing and future funds managed or advised by Glendower, specifically the Glendower Capital Secondary Opportunities Fund IV, LP. It is not an offer to sell or a solicitation to buy any security. The presentation outlines potential risks, fees, and conflicts of interest related to the fund, and emphasizes the importance of consulting offering documents for detailed information. Credit Suisse acts as the fund's placement agent but not as a municipal advisor. The information is confidential and not independently verified.

key_people:
Glendower Capital LLP
Credit Suisse

document_subtype: presentation

key_organizations:
Glendower Capital LLP
Credit Suisse Asset Management Limited


document_description: This document provides key definitions related to investment terms and fund structures used by BBR Partners and Glendower Capital. It includes definitions for terms like 'Single Asset Deal', 'Fund Secondary', 'GP-led Secondary', and various fund names such as SOF, SOF D, SOF II, and SOF III. It also defines financial indices like the Russell 2000 Index, MSCI World Index, and Thomson Reuters Private Equity Buyout Index.

document_subtype: definitions

key_organizations:
BBR Partners
Glendower Capital
FTSE Russell
London Stock Exchange Group
Thomson Reuters


document_description: The document provides important information on the track record of the Glendower SOF Team, which spun off from Deutsche Bank on August 1, 2017. It discusses the investment performance and track record of the SOF Funds, including details on key personnel involved, investment returns, valuations, and target returns. The document emphasizes that the performance information is intended to provide recipients with insights into the Glendower SOF Team's investment experience and outlines the methodology for calculating returns.

title: Notes to Investment Performance

key_people:
Carlo Pirzio-Biroli
Charles Smith
Chi Cheung
Francesco Rigamonti
Adam Graev

document_subtype: investment performance notes

key_organizations: Deutsche Alternative Asset Management (Global) Limited


document_description: This document provides important information for recipients in certain jurisdictions regarding the distribution and offering of interests in a fund managed by BBR Partners. It includes specific notices for residents of the European Economic Area, Australia, Bahrain, and Brazil, outlining legal and regulatory considerations for each region.

key_locations:
European Economic Area
Australia
Bahrain
Brazil

document_subtype: investment presentation

key_organizations:
BBR Partners
Credit Suisse Group
Credit Suisse AG
Central Bank of Bahrain
Brazilian Securities Commission


document_description: This document is a presentation by BBR Partners, providing important information for recipients in various jurisdictions including Brunei, Canada, Cayman Islands, Chile, China, Colombia, France, Guernsey, and Haiti. It outlines the legal and regulatory considerations for offering securities in these regions, emphasizing that the presentation is for informational purposes only and does not constitute a public offer or invitation to purchase securities.

key_locations:
Brunei
Canada
Cayman Islands
Chile
China
Colombia
France
Guernsey
Haiti

key_organizations:
BBR Partners
Autoriti Menetan Brunei Derussalam
Registrar of Companies
Superintendencia de Valores y Seguros
Guernsey Financial Services Commission
States of Guernsey Policy Council


document_description: The document is a presentation by BBR Partners, providing important information for recipients in Hong Kong and Israel regarding investment interests. It outlines legal restrictions and conditions under which investment products can be offered in these jurisdictions, emphasizing that the presentation is not an offer to sell or solicitation of an offer to buy securities. It is intended for 'professional investors' in Hong Kong and 'Sophisticated Investors' in Israel, with specific financial criteria outlined for the latter.

key_locations:
Hong Kong
Israel

key_organizations:
BBR Partners
Securities and Futures Ordinance
Companies Ordinance
Israel Securities Authority
Tel-Aviv Stock Exchange
Glendower Capital


document_description: This document contains legal disclaimers and restrictions for recipients in various jurisdictions including Japan, Malaysia, Mexico, Monaco, New Zealand, and Oman. It outlines the legal limitations and requirements for offering or selling financial products in these regions.

key_locations:
Japan
Malaysia
Mexico
Monaco
New Zealand
Sultanate of Oman

document_subtype: legal disclaimer

key_organizations: Credit Suisse Securities (Japan) Limited

key_organizations: Type II Financial Instruments Firms Association

key_organizations: National Banking and Securities Commission

key_organizations: Commission de Contrôle des Activités Financières

reference_numbers: Director-General of (Canto Local Finance Bureau (Kinsho) No 66

reference_numbers: Commercial Companies Law of Oman (Royal Decree 4174)

reference_numbers: Capital Market Law of Oman (Royal Decree 80;98a

reference_numbers: Article 13 of the Executive Regulations to the Capital Market Law (issued by Decision No.1(2009)


document_description: This document is a supplemental disclosure by Deutsche Bank, acting as a solicitation agent for a fund. It outlines the nature of the information provided, the risks involved in transactions, and the lack of guarantees on securities. It also clarifies that Deutsche Bank does not provide accounting, tax, or legal advice and authorizes the disclosure of transaction structures and tax aspects.

title: Supplemental Disclosure by Deutsche Bank Securities Inc. and Deutsche Bank Trust Company Americas

document_subtype: disclosure

key_organizations:
Deutsche Bank Securities Inc.
Deutsche Bank Trust Company Americas
Deutsche Bank


document_description: A letter from Deutsche Bank requesting client consent to share personal information with iCapital Parties for fund investment purposes. The letter outlines the types of information required from natural persons and corporate structures or trusts.

title: Letter of Authorization for Fund Investment

document_subtype: Letter of Authorization

key_organizations:
Deutsche Bank
iCapital Advisors, LLC
BBR Partners


document_description: This document is a supplement to the Confidential Private Placement Memorandum dated January 2018, related to the offering of limited partnership interests in Glendower Access Secondary Opportunities IV (U.S.), L.P. It is intended for investors referred by Deutsche Bank Securities Inc.

title: Supplement to the Confidential Private Placement Memorandum

document_subtype: Private Placement Memorandum Supplement

key_organizations:
BBR Partners
Glendower Capital
Deutsche Bank Securities Inc.


document_description: This document is a supplement to the Confidential Private Placement Memorandum for Glendower Access Secondary Opportunities IV (U.S.), L.P., updating information regarding Deutsche Bank Securities Inc.'s role as Placement Agent and related compensation. It clarifies the relationship between the Access Fund and the Underlying Fund, and outlines confidentiality and disclosure terms, particularly concerning tax treatment and structure.

key_organizations: Glendower Capital Secondary Opportunities Fund IV, LP


document_description: The document is an amendment to the 'Summary of Principal Terms of the Access Fund' involving a placement agreement with Deutsche Bank Securities Inc. (DBSI). It outlines the servicing fee structure for Deutsche Bank when acting as a Placement Agent for the Access Fund. The fees are calculated based on the subscription amounts of clients introduced by Deutsche Bank, with different rates applied during and after the investment period of the Underlying Fund.

document_subtype: placement agreement

key_organizations:
Deutsche Bank Securities Inc.
BBR Partners


document_description: The document outlines the placement fee structure for Deutsche Bank (DB) in relation to the Access Fund. It details the DB Placement Fee rates based on investment levels and the conditions under which these fees are applied. Additionally, it describes the Direct Investor Placement Fees for clients investing directly in the Underlying Fund and the associated risk factors and potential conflicts of interest for DB Introduced Persons.

document_subtype: Placement Fee Agreement

key_organizations:
Deutsche Bank
BBR Partners
Glendower GP
Glendower Capital, LLC


document_description: The document discusses amendments to the 'Certain Regulatory Matters' section of a Memorandum, detailing settlements reached by DBSI with various regulatory bodies in 2004 and 2009. These settlements were related to investigations into research analyst independence and claims under federal securities laws concerning auction rate securities.

document_subtype: settlement agreement

key_organizations: National Association of Securities Dealers


document_description: This document is a Form W-9 used to request a taxpayer's identification number and certification. It includes sections for the taxpayer's name, business name, tax classification, exemptions, address, and taxpayer identification number (TIN). The form also includes a certification section where the taxpayer certifies the accuracy of the TIN and their exemption from backup withholding.

title: Form W-9 Request for Taxpayer Identification Number and Certification

document_date: November 2017

document_subtype: Form W-9


document_description: Instructions for completing Form W-9, including certification of TIN, backup withholding, FATCA reporting, and penalties for non-compliance. It provides guidance for U.S. persons and foreign entities on tax-related matters.

title: Form W-9 Instructions

document_subtype: tax form instructions


document_description: This document is a W-9 form (Rev. 11-2017) from the IRS, providing information on how the IRS does not initiate contact via email and instructions on reporting phishing attempts. It also includes a Privacy Act Notice explaining the requirement to provide a correct TIN and the potential uses of the information collected.

document_subtype: W-9 Form

key_organizations: Treasury Inspector General for Tax Administration


document_description: This document outlines the change of beneficiaries for The 2007 Jeffrey E. Epstein Insurance Trust #3. The Trustees, Darren K. Indyke and Lawrence Newman, have exercised their power to delete all previously named beneficiaries and add new ones. The document specifies the distribution of the trust's principal and accumulated income upon the death of the Grantor.

title: Change of Beneficiaries for The 2007 Jeffrey E. Epstein Insurance Trust #3

key_people:
Darren K. Indyke
Lawrence Newman
Jeffrey E. Epstein

document_subtype: Trust Document


document_description: Trust agreement between Jeffrey E. Epstein as Grantor and Darren K. Indyke and Lawrence Newman as Trustees. The trust is to manage and dispose of property as described in Schedule A. The trust allows for discretionary payments to Jeffrey Epstein's brother, Mark Lawrence Epstein, during the trust's term, with remaining principal to be disposed of upon the Grantor's death.

key_people:
Jeffrey E. Epstein
Darren K. Indyke
Lawrence Newman
Mark Lawrence Epstein

key_locations: Little St. James Island, United States Virgin Islands

document_subtype: Trust Agreement


document_description: Jeffrey E. Epstein, as the Grantor of THE 2007 JEFFREY E. EPSTEIN INSURANCE TRUST #3, revokes the designation of Eva Andersson Dubin and Abigail S. Wexner as successor Trustees. Current Trustees are Darren K. Indyke and Lawrence Newman.

title: Grantor's Revocation of Designation of Successor Trustees

key_people:
Jeffrey E. Epstein
Eva Andersson Dubin
Abigail S. Wexner
Darren K. Indyke
Lawrence Newman
Bradley Gillin

document_subtype: Trust Revocation


document_description: Designation of Richard Kahn as an additional trustee for The 2007 Jeffrey E. Epstein Insurance Trust #3, with Darren K. Indyke as the last acting trustee. Richard Kahn accepts the designation.

title: Designation and Acceptance of Additional Trustee

key_people:
Jeffrey E. Epstein
Darren K. Indyke
Richard Kahn

document_subtype: Trust Designation


document_description: Lawrence Newman resigns as Trustee of THE 2007 JEFFREY E. EPSTEIN INSURANCE TRUST #3, effective upon the designation of an additional Trustee by Darren K. Indyke.

key_people:
Lawrence Newman
Darren K. Indyke
Jeffrey E. Epstein

document_subtype: Trust Resignation


document_description: Jeffrey E. Epstein, as the Grantor of THE 2007 JEFFREY E. EPSTEIN INSURANCE TRUST #3, revokes the designation of Eva Andersson Dubin and Abigail S. Wexner as successor Trustees. The current Trustees, Darren K. Indyke and Lawrence Newman, continue to serve.

title: THE 2007 JEFFREY E. EPSTEIN INSURANCE TRUST #3 GRANTOR'S REVOCATION OF DESIGNATION OF SUCCESSOR TRUSTEES

key_people:
Jeffrey E. Epstein
Eva Andersson Dubin
Abigail S. Wexner
Darren K. Indyke
Lawrence Newman

document_date: December 2012


document_description: This document outlines changes to the beneficiaries of THE 2007 JEFFREY E. EPSTEIN INSURANCE TRUST #3. Trustees Darren K. Indyke and Lawrence Newman have exercised their power to delete all previously named beneficiaries and add new ones, effective upon the death of the Grantor. The document specifies the distribution of the trust's principal and accumulated income to the new beneficiaries.

title: THE 2007 JEFFREY E. EPSTEIN INSURANCE TRUST #3 CHANGE OF BENEFICIARIES


document_description: The document outlines the distribution of the principal of a trust upon the death of the Trustees. If Eva Andersson Dubin survives, she will receive the principal. If not, the Trustees have discretion to distribute to others, excluding certain parties.

key_people:
Eva Andersson Dubin
Jeffrey E. Epstein
Darren K. Indyke
Lawrence Newman
Harry I. Beller


document_description: A notarized statement confirming the identity of Lawrence Newman, a Trustee, sworn before Notary Public Leon John Carney.

key_people:
Lawrence Newman
Leon John Carney

key_locations:
New York
Kings County

document_subtype: notarized document


document_description: Trust agreement between Jeffrey E. Epstein (Grantor) and Darren K. Indyke and Lawrence Newman (Trustees). The Grantor, residing in Little St. James Island, US Virgin Islands, transfers property to Trustees to be managed as per the agreement. The Trustees have discretion to pay income or principal to the Grantor's brother, Mark Lawrence Epstein, during the trust's term. Upon the Grantor's death, remaining principal and insurance proceeds are to be disposed of as specified.

title: The 2007 Jeffrey E. Epstein Insurance Trust #3

key_locations:
Little St. James Island
United States Virgin Islands


document_description: This document outlines the distribution of property payable to the Trustees upon the Grantor's death. It specifies monetary distributions to various individuals, including Ira Zicherman, Mark Lawrence Epstein, and Ghislaine Maxwell, with conditions based on their living status at the time of the Grantor's death. The Trustees have the right to modify beneficiaries during the Grantor's lifetime.

key_people:
Ira Zicherman
Mark Lawrence Epstein
Ghislaine Maxwell


document_description: The document outlines the rights of Mark Lawrence Epstein to withdraw from a trust property equal to the value of each addition made to the trust, subject to certain conditions. It specifies the process and limitations for exercising these withdrawal rights.

document_subtype: trust agreement


document_description: The document outlines the conditions under which Mark Lawrence Epstein can exercise his right to make a withdrawal from a trust. It specifies the value of additions to the trust and the conditions for payments to minors from the trust.


document_description: The document outlines definitions and discretionary powers related to a trust agreement. It defines terms such as 'issue', 'discretion', 'minor', and 'taxes', and specifies the interchangeable use of gender and number in the agreement. It also grants discretionary powers to the Trustees beyond what is provided by law or other provisions of the agreement.


document_description: The document outlines the powers granted to trustees regarding the management and disposition of property. Trustees are allowed to retain, sell, exchange, invest in, or acquire property without court application and are not bound by legal restrictions on investments. They can also retain non-income-producing property and are not required to diversify investments.


document_description: The document outlines the powers and discretions granted to trustees in managing real property and life insurance policies. Trustees have broad authority to manage, retain, apply for, purchase, or accept gifts of life insurance policies, and to exercise various rights and options related to these policies without court approval.


document_description: The document outlines the powers and responsibilities of Trustees in managing trust policies, including the discretion to use trust principal for premium payments and the appointment of successor Trustees.

key_people:
Darren K. Indyke
Lawrence Newman
Eva Andersson Dubin
Abigail S. Wexner


document_description: The document outlines the rules and procedures for the designation, resignation, and liability of Trustees. It specifies that there must always be two Trustees, and the Grantor cannot be a Trustee. Designations and resignations must be in writing, and Trustees are not liable for losses unless due to willful misconduct.


document_description: The document outlines the responsibilities and powers of Trustees under a trust agreement. It specifies that Trustees are not required to file bonds, reports, or notices in court and are relieved from duties under Chapter 59 of Title 15 of the Virgin Islands Code. The Grantor authorizes Trustees to divide or combine trusts and allows for additions to the trust by will or transfer of property. Trustees accept their roles and agree to execute their duties to the best of their ability.

key_people: Grantor Trustees


document_description: This document outlines the terms of 'The 2007 Jeffrey E. Epstein Insurance Trust #3', specifying that the trust is irrevocable and governed by the laws of the United States Virgin Islands. It includes signatures from Jeffrey E. Epstein as Grantor, and Darren K. Indyke and Lawrence Newman as Trustees.

key_people:
Jeffrey E. Epstein
Darren K. Indyke
Lawrence Newman


document_description: Notarized acknowledgments of Jeffrey E. Epstein, Darren K. Indyke, and Lawrence Newman executing an unspecified instrument before Notary Public Lauren J. Kwintner in New York County.

key_people:
Jeffrey E. Epstein
Darren K. Indyke
Lawrence Newman
Lauren J. Kwintner


document_description: Andrew King discusses the receipt of materials and the option for Frank to send an introductory email or for the team to provide pre-approved language.

key_people:
Andrew King
Frank

key_organizations:
Deutsche Bank Securities Inc.
Deutsche Bank Wealth Management


document_description: This document is a Form ADV Part 2A brochure for iCapital Advisors, LLC, providing information about the firm's qualifications and business practices. It includes disclaimers about SEC registration and the non-endorsement of the firm's skills or expertise.

title: iCapital Advisors, LLC Form ADV Part 2A

key_locations: 60 East 42nd Street, 26th Floor, New York, NY 10165, USA

document_subtype: Form ADV Part 2A

key_organizations: United States Securities and Exchange Commission


document_description: This document is a Form ADV Part 2A for iCapital Advisors, LLC, detailing their investment advisory services. It lists various Private Equity Global Select Master Funds, Private Equity Asia Select Funds, Opportunistic Real Estate and Infrastructure Select Funds, and other investment funds managed by iCapital. The document outlines iCapital's role in providing investment advisory services to these funds, which are exempt from registration under the Investment Company Act of 1940 and the Securities Act of 1933. It also describes the management of these funds in accordance with their confidential private placement memorandums (PPMs).

title: iCapital Advisors, LLC - Form ADV Part 2A

key_organizations: iCapital-OrbiMed Royalty Opportunities II Access Fund

key_organizations: iCapital-Apollo Structured Credit Recovery Access Fund

key_organizations: iCapital-Warburg Pincus Private Equity XII Access Fund

key_organizations: Royalty Investment Fund Limited Partnership


document_description: The document is a Form ADV Part 2A from iCapital Advisors, LLC, detailing the investment strategies, management fees, and assets under management as of December 31, 2017. It outlines the management fee structure, which ranges from 0.25% to 1.25% per annum, and lists various funds managed by iCapital. The document also mentions the total discretionary assets under management and the ownership structure of Institutional Capital Network, Inc., iCapital's parent company.

key_organizations:
iCapital Advisors, LLC
Institutional Capital Network, Inc.


document_description: The document is a Form ADV Part 2A from iCapital Advisors, LLC, detailing various aspects of their investment management services. It covers topics such as litigation and legal fees, performance-based fees, types of clients, and side agreements with investors. The document outlines the expenses borne by Direct Investment Funds, performance-based compensation, and the types of clients eligible to invest in the funds. It also discusses the possibility of side letters providing different rights to certain investors.


document_description: The document outlines iCapital Advisors, LLC's investment strategies and due diligence process for Private Access Funds and Direct Investment Funds. It details the methods of analysis, investment strategies, and risk of loss, focusing on providing investors access to select fund managers at lower investment minimums. The due diligence process includes quantitative and qualitative assessments, market mapping, and comprehensive evaluations of fund managers.

document_subtype: investment strategy document


document_description: The document outlines the due diligence process of iCapital Advisors, LLC for assessing investment opportunities, particularly in hedge funds. It describes a multi-stage evaluation process involving internal rate of return, multiple on invested capital, and other financial metrics. The process includes a comprehensive review of fund terms, market opportunities, and manager evaluations, with assistance from Castle Hall Alternatives Inc. The final decision requires a unanimous vote from iCapital's Investment Committee.

document_subtype: investment diligence process

key_organizations:
iCapital Advisors, LLC
Castle Hall Alternatives Inc.


document_description: The document outlines the risks and conflicts of interest associated with investing in Private Access Funds managed by iCapital Advisors, LLC. It highlights potential issues such as lack of diversification, higher fees, illiquidity, and the possibility of losing the entire investment. The document also discusses the relationship between Private Access Funds and Underlying Funds, including the lack of control over management strategies and the potential for sponsor misconduct.

key_organizations:
iCapital Advisors, LLC
Ironsides Asset Mgmt


document_description: The document is a Form ADV Part 2A from iCapital Advisors, LLC, discussing various financial and tax implications for investors in Private Access Funds. It covers topics such as tax liabilities, illiquidity of investments, economic and market risks, and consequences of default.

document_subtype: investment advisory document


document_description: The document is a Form ADV Part 2A from iCapital Advisors, LLC, discussing capital contributions, default scenarios, and legal implications for investors. It also covers the structure and liabilities of series limited partnerships under the Delaware Act, and the reliance on sub-advisers for fund management.


document_description: The document is a Form ADV Part 2A from iCapital Advisors, LLC, discussing various investment strategies and associated risks. It covers investments in American Depositary Receipts (ADRs), European Depositary Receipts (EDRs), and Global Depositary Receipts (GDRs), highlighting the risks of investing in non-U.S. securities, including political, economic, and foreign exchange risks. The document also discusses investments in emerging markets, noting the volatility and risks due to political and economic instability. Additionally, it addresses the impact of foreign currency fluctuations on fund investments.


document_description: The document discusses various financial risks associated with investments, including currency exchange rate fluctuations, credit risk, concentration risk, and settlement risk in foreign markets. It highlights how these factors can affect the value and performance of investment funds.


document_description: The document is a Form ADV Part 2A from iCapital Advisors, LLC, discussing various financial risks associated with fund management, including cash position risk, leverage, and derivatives risk. It outlines the potential impacts of these risks on a fund's investment strategy and performance.