document_description: This document provides an overview of the Glendower Capital Secondary Opportunities Fund IV, L.P. (SOF IV), including its formation, performance metrics, and investment strategies. It includes details on the fund's past performance, investment strategies, and key financial metrics as of September 30, 2017. The document also outlines the fund's structure, associated risks, and regulatory considerations.

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

key_people:
Glendower Capital LLP
Mirabella Advisers LLP

key_locations:
United Kingdom
North America
Europe
Asia

document_subtype: Investment Fund Document

key_organizations:
Glendower Capital
Mirabella Advisers LLP
Cambridge Associates


source: doj

document_description: This confidential presentation by Glendower Capital, LLP provides summary information about existing and future funds managed by Glendower, specifically the Glendower Capital Secondary Opportunities Fund IV, LP. It is intended for sophisticated recipients for evaluation of potential investment. The presentation emphasizes confidentiality, non-reliance for investment decisions, and outlines potential risks, conflicts of interest, and legal disclaimers. It also highlights the role of Credit Suisse as the Fund's placement agent and the non-advisory nature of their relationship with municipal entities.

title: Glendower Capital SOF IV, L.P. Presentation

key_people:
Glendower Capital, LLP
Mirabella Advisers LLP
Credit Suisse Asset Management Limited

document_type: correspondence

document_subtype: Confidential Presentation

key_organizations:
Glendower Capital
Mirabella Advisers LLP
Credit Suisse


document_description: This document contains legal disclaimers and distribution restrictions for a presentation by Glendower Capital Sal IV, LP. It outlines the legal considerations and restrictions for recipients in various countries, including the EEA, UK, Australia, Bahrain, Brazil, Brunei, Canada, Chile, and China. The document specifies that the presentation is not a prospectus and provides guidance on the legal framework for distributing the presentation in each jurisdiction.

document_type: legal

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

document_subtype: legal disclaimer

key_organizations:
Glendower Capital Sal IV, LP
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


document_description: This document contains legal disclaimers for various countries regarding the distribution and offering of financial products by Glendower Capital SOF IV, L.P. It specifies the legal conditions under which the presentation can be communicated to potential investors in Colombia, France, Guernsey, Haiti, Hong Kong, Israel, and Japan. The document emphasizes that the presentation does not constitute a public offer and outlines the specific legal frameworks and investor qualifications required in each jurisdiction.

key_locations:
Colombia
France
Guernsey
Haiti
Hong Kong
Israel
Japan

key_organizations: Securities and Futures Commission of Hong Kong

key_organizations: Credit Suisse Securities (Japan) Limited


document_description: This document contains legal disclaimers for various countries regarding the offering and distribution of securities by Glendower Capital SOF IV, L.P. It specifies the legal restrictions and requirements for offering securities in Malaysia, Mexico, Monaco, New Zealand, Oman, Qatar, Saudi Arabia, Singapore, South Korea, and Switzerland. The document emphasizes that it is not an offer or solicitation for securities and outlines the legal framework and entities involved in each jurisdiction.

key_locations:
Malaysia
Mexico
Monaco
New Zealand
Sultanate of Oman
Qatar
Saudi Arabia
Singapore
South Korea
Switzerland

key_organizations: National Banking and Securities Commission

key_organizations: Commission de Controle des Activités Financières

reference_numbers:
Law n° 1.144 of July 26, 1991
Law 1.338 of September 7, 2007


document_description: Confidential investment overview for Glendower Access Secondary Opportunities IV (U.S.), L.P. intended for investment professionals and qualified investors.

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

document_date: April 2018

document_type: financial

document_subtype: investment overview


document_description: This document is a presentation for informational and discussion purposes regarding investment opportunities in Glendower Capital Secondary Opportunities Fund IV, LP and Glendower Access Secondary Opportunities IV (U.S.), L.P. It emphasizes that the presentation is not legal, tax, or investment advice and highlights the risks and conditions associated with investing in these funds. The document stresses the importance of consulting the Offering Memorandum for detailed information and risk factors.

document_subtype: presentation


document_description: The document provides important information about the Access Fund managed by Third Lake Capital, highlighting the risks and characteristics of alternative investments. It emphasizes that historical returns do not include fees and expenses, and benchmarks are for illustrative purposes only. The document outlines the risks associated with alternative investments, including potential loss, lack of liquidity, volatility, and complex tax structures. It also clarifies the relationship between purchasers of interests and the Access Fund, stating that they will not have direct interest or voting rights in the Underlying Fund.

document_subtype: investment information

key_organizations:
Third Lake Capital
iCapital Advisors, LLC
Institutional Capital Network, Inc.
U.S. Securities and Exchange Commission


document_description: The document outlines various risk factors associated with investing in private equity funds, including limited regulatory oversight, portfolio concentration, strategy risk, use of leverage, valuation issues, performance uncertainty, limited liquidity, tax risks, fees and expenses, and reliance on fund managers. It emphasizes the importance of due diligence in selecting private equity fund managers.

document_subtype: disclosure document

key_organizations:
Securities and Exchange Commission
iCapital Network


document_description: This document provides a summary of the key terms for the Access Fund, which is linked to the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on fund structure, strategy, minimum commitment, target size, fund term, capital calls, investment period, legal counsel, reporting, fees, and carried interest.

title: Summary of Key Terms for Access Fund

document_type: tabular

document_subtype: Summary of Key Terms

key_organizations:
Glendower Capital
iCapital Advisors, LLC
Debevoise & Plimpton LLP
Cleary Gottlieb Steen & Hamilton LLP
DBSI


document_description: This document outlines the key terms for investors in the Access Fund, including fees, expenses, and performance compensation. It details the final admission date, placement fee waivers, management fee distribution, and investment options for large investors. DBSI's role as placement agent and fee recipient is also highlighted.

title: Summary of Key Terms for Third Lake Capital

key_organizations:
Third Lake Capital
DBSI
iCapital Advisors
Glendower Capital, LLP


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

title: Glendower Capital Secondary Opportunities Fund IV, LP 2nd Quarter 2018

document_subtype: investment fund report

key_organizations:
Glendower Capital
Third Lake Capital


document_description: The document explains the difference between primary and secondary private equity investments. Primary private equity involves direct investment into a PE fund at its inception, while secondary private equity involves investment into existing PE-backed companies, typically through the purchase of fund interests. The secondary market has expanded to include the sale and purchase of Limited Partner interests, direct PE investments, and bespoke liquidity solutions for General Partners.

document_subtype: memo


document_description: Glendower Capital is launching the Secondary Opportunities Fund IV (SOF IV) to continue its value-investing strategy. The fund seeks US$1.75 billion in commitments, with a first close of US$1.3 billion expected in May 2018. The fund focuses on secondary private equity investments globally, primarily in the US and Europe, across various transaction types including fund secondaries, GP-led transactions, and single asset deals.

title: Glendower Capital Secondary Opportunities Fund IV Overview

key_locations:
United States
Europe

document_subtype: Investment Fund Overview

key_organizations:
Glendower Capital
Deutsche Asset Management


document_description: Glendower Capital is an established investment team active in the secondary market since 2003. The team spun-off from Deutsche Bank in 2017 and is privately owned by its partners. It has a seasoned team with extensive database and relationships, having invested in over 350 fund interests over 90 deals. The team has raised multiple funds over the years, including SOF US$565m in 2006, SOF D US$147m in 2010, and SOF III US$1.65bn in 2011. Glendower Capital has offices in London and New York.

title: Glendower Capital Overview

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

key_locations:
London
New York

key_organizations:
Glendower Capital
Deutsche Bank


document_description: This document provides an overview of the core members of the Glendower Capital team, including their roles, locations, years of experience, and educational backgrounds. It lists senior team members and their professional backgrounds, as well as other team members with their tenure at the company.

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 Enrique
Sheldon Lee
Helena Turley
Louise Schoeman
Katherine Weaver
Maxine Turner
Maria Gianoli-Franklin

document_subtype: organizational chart

key_organizations:
Glendower Capital
Deutsche Bank
CDB Web Tech
General Electric
The Boston Consulting Group
Bankers Trust
Coopers & Lybrand
Pomona
Lehman Brothers
Chatterjee/Soros
Cowen
ABN Amro
KPMG
Paul Capital
Forum Capital
CIBC Oppenheimer
ADIA
UBS
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 vintage, size, number of transactions, gross and net multiples, IRR, and net distributed capital. The report emphasizes that past performance is not indicative of future results and includes a note on currency conversion for SOF D, a Euro-denominated fund.

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 from 2004 to 2014. It includes metrics like Net IRR, DPI, and RVPI for various SOF funds and benchmarks them against their vintage peer group. The data is based on unaudited results as of September 30, 2017.

title: SOF Funds vs Cambridge Associates' Secondary Funds Performance

document_subtype: financial performance report

key_organizations:
Third Lake Capital
Cambridge Associates
Glendower Capital


document_description: The document provides a financial performance report of SOF Funds, comparing their returns to the Cambridge Associates buyout top-quartile benchmark. It includes metrics such as TVPI, DPI, and Net IRR for various SOF programs across different vintage years. The report highlights the buyout-like returns with a secondary risk profile and emphasizes the compelling risk/reward profile of the funds.

key_organizations:
Third Lake Capital
Cambridge Associates
Glenclover SOF Team
Glendower


document_description: The document provides a performance comparison of SOF Funds against major public market indices as of September 30, 2017. It includes performance data for various SOF categories and compares them to indices like MSCI World, Russell 2000, and Thomson Reuters. The document emphasizes that past performance is not indicative of future results and includes a methodology section explaining the calculation of Net IRR using the Long Nickels method.

title: SOF Program Performance Comparison


document_description: The document provides a market segmentation analysis by Glendower Capital, focusing on fund strategies and sizes from 1996 to 2018. It categorizes funds into three main strategies: Levered beta play, Alpha play, and Low barriers to entry, with corresponding fund size ranges and number of players. The analysis includes a chart with fund size categories and highlights Glendower Capital's position in the market.

title: Glendower Capital Market Segmentation Analysis

document_subtype: market analysis


document_description: The document outlines Glendower's distinctive investment strategy focusing on disciplined bottom-up underwriting of attractive assets managed by quality managers. It details four key strategies: sourcing less competitive deals globally, pursuing a selective true value approach, buying margin of safety, and focusing on efficient portfolio construction. The document emphasizes risk mitigation and portfolio diversification.

title: Glendower Investment Strategy

document_type: other

document_subtype: investment strategy document

key_organizations:
Glendower
Third Lake Capital


document_description: The document outlines Third Lake Capital's disciplined barbell approach to investment, adjusting deal types relative to market cycles. It describes different types of fund secondaries, GP-led secondaries, and single asset deals, along with their expected returns and market strategies. The document also provides historical performance data and expected allocations for various deal sizes.

key_organizations:
Third Lake Capital
Glendower Capital


document_description: The document outlines Third Lake Capital's investment strategy, sourcing process, and deal experience. It highlights their extensive industry network, significant buy and sell-side experience, and disciplined underwriting approach. The document also provides statistics on their transaction history and filtering process.

title: Third Lake Capital Investment Overview

document_subtype: Investment Summary

key_organizations:
Third Lake Capital
DB Wealth Management
Raymond James
Alex Brown
Glendower Capital


document_description: The document provides illustrative case studies of GP-led transactions and single asset deals by Glendower Capital. It includes details on various projects/funds, deal sizes, regions, sellers, and descriptions of the deals.

title: Illustrative case studies

document_subtype: investment case studies


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 subject to confidentiality rules under Federal Rules of Criminal Procedure.

title: Glendower Capital Document


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.

key_organizations:
Third Lake Capital
Glendower Capital
Greenhill


document_description: The document provides data on the growth of the global private equity market, highlighting the increase in total PE assets to US$2.8 trillion and the annual secondary market volumes as a percentage of total PE assets from 2007 to 2017. It includes two tables: one showing the unrealized portfolio value, dry powder, and total value in US$bn from 2007 to 2017, and another showing the annual secondary volumes as a percentage of total PE assets for the same period.


document_description: The document provides an analysis of secondary market pricing for private equity fund interests, highlighting stable pricing trends and historical data from 2005 to 2017. It discusses market phases, including the bubble period of 2006-2007 and the crisis period of 2008-2010, with a return to normalized pricing levels from 2011 onwards.

title: Secondary Market Pricing Analysis

document_subtype: financial analysis

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


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 market share of GP-led secondaries from 2006 to 2017.


document_description: The document provides a financial overview of the SOF Ill Portfolio managed by Third Lake Capital, highlighting gross invested capital, sector composition, and investment strategy as of September 30, 2017. It includes detailed tables on fund size, capital called, distributions, remaining NAV, and total net return, along with sector and regional investment breakdowns.

title: SOF Ill Portfolio - Highlights


document_description: This 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 capital partners.

title: SOF III Portfolio - Sponsor Exposure

document_subtype: financial portfolio summary

key_organizations:
Third Lake Capital
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
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: The document outlines an investment opportunity led by Third Lake Capital, focusing on a GP-led secondary deal expected to close in April 2018. The investment involves mid-market buyouts in the US consumer industry, with a focus on dining and fitness brands. Key investment data includes a $100m invested capital, a 7% discount to NAV, and a 1.1x gross multiple at close. The rationale highlights Glendower's ability to deliver bespoke solutions and perform extensive diligence.

title: SOF IV - Project Sunrise


document_description: This document outlines an exclusive GP-led secondary deal for Project Klein, expected to close in June 2018. It involves a mid-market buyout strategy focusing on business and healthcare services in Europe/UK. The investment includes four companies, with key value drivers in the UK premium distribution and medical/cosmetics sectors. Glendower Capital is leading the transaction, leveraging its expertise in complex deals and long-standing relationships.

title: SOF IV — Project Klein

key_locations: Europe UK Italy


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: Key terms for 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: The document outlines the key ILPA 2 principles for SOF IV, focusing on alignment of interest, governance, and transparency. It includes best practices such as the all-contribution-plus-preferred-return-back-first model, LP favorable clawback provision, and comprehensive financial reporting.

title: SOF IV - ILPA 2 Scorecard

document_subtype: ILPA Scorecard

key_organizations: Institutional Limited Partner Association


document_description: This document contains information about Glendower Capital's investment strategy, updates on the secondary market, and key terms for the Secondary Opportunities Fund IV. It is marked as strictly confidential and is subject to federal confidentiality rules.

title: Glendower Capital Document


document_description: This document provides biographies of key team members at Third Lake Capital, including Deirdre Davies, Joshua Glaser, Emilio Olmos, and Francesco Rigamonti. It details their roles, previous experience, and educational background.

title: Third Lake Capital Team Bios

key_people:
Deirdre Davies
Joshua Glaser
Emilio Olmos
Francesco Rigamonti

key_locations:
London
New York
Abu Dhabi
Milan
South Africa
Southern Europe
Middle East
Asia
Italy

document_subtype: team bios

key_organizations:
Third Lake Capital
Deutsche Bank
KPMG
Paul Capital
Forum Capital
CIBC Oppenheimer
ADIA
UBS
Credit Suisse
Lafarge
Gallo & Co.


document_description: Team bios for Third Lake Capital, detailing the professional backgrounds and responsibilities of key team members: Rikesh Mohandoss, Devrup Banerjee, Aldrich Chan, and Philippe Ferneini. Each bio includes previous employment, educational background, and current responsibilities at Glendower Capital.

key_people:
Rikesh Mohandoss
Devrup Banerjee
Aldrich Chan
Philippe Ferneini

key_locations:
New York
London

key_organizations: New York University's Stern School of Business

key_organizations: University of Pennsylvania's Wharton School of Business

key_organizations: University of Chicago Booth School of Business


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

title: Team Bios for Third Lake Capital

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

key_organizations: Carnegie Mellon's Tepper School of Business


document_description: The document provides a breakdown of the gross invested capital for Third Lake Capital's 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 an overview of the remaining portfolio construction by FMV1 as of September 30, 2017, for Third Lake Capital. It includes details on fund size, invested capital, capital called, distributions, remaining NAV, and total net return. The document also outlines asset geography, investment strategy, vintage year distribution, and sector composition.

title: Third Lake Capital Portfolio Overview

document_subtype: financial overview


document_description: This document provides a detailed financial summary of various investment projects managed by Third Lake Capital as of September 30, 2017. It includes information 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 such as the Hoover transactions.

title: Overall transaction summary as of September 30, 2017

document_subtype: financial summary


document_description: This confidential presentation by Glendower Capital, LLP provides summary information about existing and future funds managed by Glendower, specifically the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines that the presentation is not an offer to sell or a solicitation to buy any security and emphasizes the risks involved in investing in the Fund. The document also discusses potential conflicts of interest with Credit Suisse Asset Management Limited, acting as the Fund's placement agent, and clarifies that Credit Suisse is not acting as a municipal advisor. The information is confidential and not independently verified.

key_people:
Glendower Capital, LLP
Credit Suisse Asset Management Limited

document_subtype: confidential presentation


document_description: This document is a presentation by Glendower Capital regarding the Third Lake Capital Fund. It outlines the fund's investment strategy, potential risks, and disclaimers about forward-looking statements. The presentation emphasizes that past performance is not indicative of future results and that the fund's strategy may differ from previous ones. It also highlights the high risks and lack of liquidity associated with investing in the fund, making it suitable only for sophisticated investors.

document_subtype: investment presentation

key_organizations:
Glendower Capital
Credit Suisse


document_description: This document provides key definitions related to investment terms and fund structures used by Third Lake Capital and associated entities. 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:
Third Lake Capital
DB Secondary Opportunities Fund
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 in 2017 to form Glendower Capital LLP. It discusses the investment performance and track record of the SOF Funds, including Gross IRR and Net IRR calculations, and the impact of subscription line facilities on returns. It also covers valuations of unrealized investments and target returns, emphasizing that actual returns may differ from projections.

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 is an investment presentation for Third Lake Capital, providing important information for recipients in various jurisdictions including the European Economic Area, Australia, Bahrain, and Brazil. It outlines the legal and regulatory considerations for offering or distributing interests in the fund in these regions, emphasizing compliance with local laws and regulations such as the EU Alternative Investment Fund Managers Directive (AIFMD) and the Australian Corporations Act.

key_locations:
European Economic Area
Australia
Bahrain
Brazil

key_organizations:
Third Lake Capital
Credit Suisse Group
Credit Suisse AG, Sydney Branch
Central Bank of Bahrain
Brazilian Securities Commission

reference_numbers:
Directive 2004/39/EC
Directive (2011/61/EU)
Australian Corporations Act 2001
Banking Act 1959


document_description: This document is a presentation by Third Lake Capital, providing important information for recipients in Hong Kong and Israel regarding investment interests. It outlines the legal restrictions and conditions under which the presentation and the investment products it describes can be distributed and offered in these jurisdictions. The document emphasizes that it is not an offer to sell or a solicitation to buy securities, and it is intended for sophisticated investors only.

key_locations:
Hong Kong
Israel

document_subtype: presentation

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


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 emphasizes the importance of independent assessment before entering transactions, highlights the risks associated with the securities, and clarifies that Deutsche Bank does not provide accounting, tax, or legal advice. The document also mentions potential compensation arrangements and authorizes disclosure of the transaction's structure and tax aspects.

title: Supplemental Disclosure by Deutsche Bank

document_subtype: disclosure

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


document_description: A letter from Deutsche Bank requesting consent to share personal information with iCapital Parties for a fund investment managed by iCapital Advisors, LLC. 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
Third Lake Capital


document_description: Authorization form for Deutsche Bank to provide information and transfer funds related to an investment in Glendower Access Secondary Opportunities IV (U.S.), L.P. The form includes consent for Deutsche Bank to share information with iCapital Parties and outlines the handling of fund interests and account statements.

document_subtype: authorization form


document_description: Document contains confidential financial information related to Third Lake Capital, including placement fee, initial capital contribution amount, and Deutsche Bank account number, all of which are unspecified.

document_subtype: bank account information

key_organizations:
Third Lake Capital
Deutsche Bank


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:
Third Lake Capital
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., intended to update information regarding Deutsche Bank Securities Inc.'s role as Placement Agent and related compensation and fees. It clarifies that the Access Fund will invest in Glendower Capital Secondary Opportunities Fund IV, LP, and outlines confidentiality and disclosure terms related to tax treatment and structure.

document_subtype: Supplement to Private Placement Memorandum


document_description: Amendment to the Summary of Principal Terms of the Access Fund, detailing the Servicing Fee arrangement with Deutsche Bank Securities Inc. as a Placement Agent. The fee structure is based on the subscription amount of DB Introduced Persons and varies during and after the investment period of the Underlying Fund.

document_subtype: placement agreement amendment

key_organizations:
Third Lake Capital
Deutsche Bank Securities Inc.


document_description: The document outlines the placement fee structure for Deutsche Bank in relation to the Access Fund and Underlying Fund. It details the DB Placement Fee rates for different levels of investment and the Direct Investor Placement Fees for Deutsche Bank's role as a placement agent.

document_subtype: Fee Schedule

key_organizations:
Deutsche Bank
Third Lake Capital
Glendower GP
Glendower Capital, LLC


document_description: Form W-9 is used to provide a correct taxpayer identification number (TIN) to a requester who is required to file an information return with the IRS. It includes sections for personal and business information, tax classification, exemptions, and certification under penalties of perjury.

title: 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 information on exempt payees, FATCA exemption codes, and how to obtain a Taxpayer Identification Number (TIN).

title: Form W-9 Instructions

document_subtype: tax form instructions

key_organizations: IRS SSA

reference_numbers:
Form W-9
Form 1099-MISC
Form SS-5
Form W-7
Form SS-4


document_description: This document provides instructions related to the IRS W-9 form, including information on how the IRS does not initiate contact via email, how to report phishing attempts, and the Privacy Act Notice related to providing a Taxpayer Identification Number (TIN).

title: IRS W-9 Form Instructions

document_subtype: W-9 Form

key_organizations: Treasury Inspector General for Tax Administration


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 an amendment to iCapital's brochure for 2018, updating the previous version from March 31, 2017. It includes routine updates, changes to investor servicing fees, diligence scope on certain funds, and business relationships with Fidelity Brokerage Services LLC. It also notes the acquisition of a private equity access fund platform from Deutsche Bank by iCapital's parent company.

title: iCapital Advisors, LLC Form ADV Part 2A

key_organizations:
iCapital Advisors, LLC
Fidelity Brokerage Services LLC
Deutsche Bank
iCapital Securities, LLC
Financial Industry Regulatory Authority


document_description: The document is a Form ADV Part 2A for iCapital Advisors, LLC, detailing their investment advisory services for various Private Access Funds and Direct Investment Funds. It outlines the structure and management of these funds, which are exempt from registration under the Investment Company Act of 1940 and the Securities Act of 1933. The document describes iCapital's role in selecting private equity or hedge fund managers for investment and managing the funds according to their private placement memorandums.

document_subtype: investment advisory document

key_organizations: Private Equity Global Select Master Fund

key_organizations: Opportunistic Real Estate and Infrastructure Select Fund

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 outlines the management and investor servicing fees associated with iCapital Advisors, LLC, as well as payments to underlying managers and service providers. It details the fee structure, including management fees, investor servicing fees, and other fees related to underlying funds. The document also mentions the engagement of service providers like Dynasty Securities, LLC, and the organizational expenses each fund will bear.

key_organizations:
iCapital Advisors, LLC
BBR Partners
Dynasty Securities, LLC


document_description: The document is a Form ADV Part 2A for 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, the performance-based fees charged by iCapital, and the types of clients they serve, including high net worth individuals and institutional investors. It also discusses the use of side letters to provide certain investors with additional rights.

key_organizations:
iCapital Advisors, LLC
BBR Partners


document_description: The document outlines iCapital Advisors, LLC's due diligence process for evaluating investment opportunities, specifically focusing on internal rate of return, multiple on invested capital, and other financial metrics. It describes a five-stage selection process for hedge funds, involving market opportunity assessment, manager identification, initial diligence, deep dive diligence with Castle Hall Alternatives Inc., and final approval by iCapital's Investment Committee.

key_organizations:
iCapital Advisors, LLC
Castle Hall Alternatives Inc.


document_description: The document is a Form ADV Part 2A from iCapital Advisors, LLC, discussing the investment selection process, risks, and due diligence related to Private Access Funds and other investment vehicles. It highlights the potential risks and lack of assurance in detecting conflicts of interest or fraudulent behavior within the funds.


document_description: The document outlines the risks and conflicts of interest associated with investing in Private Access Funds through iCapital Advisors, LLC. It highlights potential issues such as lack of diversification, higher fees, illiquidity, and the risk of losing the entire investment. The document also discusses the structure and management of Private Access Funds, emphasizing that iCapital is not the General Partner or manager of the Underlying Fund and does not control its management strategies. It warns of potential losses due to misconduct by fund managers and the possibility of receiving in-kind distributions that may not be marketable.

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


document_description: The document outlines the terms and conditions related to capital contributions by investors to Private Access Funds managed by iCapital Advisors, LLC. It details the obligations of investors, potential penalties for non-compliance, and the lack of direct rights or recourse against the Underlying Fund. It also discusses the non-advisory role of iCapital and the potential for changes in the terms of the Underlying Fund.

title: iCapital Advisors, LLC Form ADV Part 2A

key_organizations:
iCapital Advisors, LLC
Private Access Fund
Underlying Fund


document_description: The document discusses the financial and tax implications for investors in Private Access Funds managed by iCapital Advisors, LLC. It covers topics such as tax withholding, income tax liabilities, UBTI for tax-exempt investors, illiquidity of investments, economic and market risks, and consequences of default on capital contributions.


document_description: The document discusses various risks associated with investments in securities, including general economic and market conditions, issuer risk, equity securities risks, and investments in non-U.S. issuers. It highlights factors such as market volatility, liquidity issues, and specific risks related to foreign investments.

key_organizations:
BBR Partners
iCapital Advisors LLC


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.

key_organizations:
BBR Partners
iCapital Advisors, LLC


document_description: The document is a Form ADV Part 2A for iCapital Advisors, LLC, discussing various investment risks, including those related to Real Estate Investment Trusts (REITs) and cybersecurity. It also covers disciplinary information, financial industry activities, and affiliations, particularly with iCapital Securities, LLC and Gen II Fund Services, LLC.

key_organizations:
iCapital Advisors, LLC
iCapital Securities, LLC
Institutional Capital Network, Inc.
Gen II Fund Services, LLC
Gen II Hedge Fund Services


document_description: The document outlines the Code of Ethics and conflict of interest policies for iCapital Advisors, LLC. It details the requirements for employees regarding personal investments, participation in client transactions, and potential conflicts of interest. The document also discusses compensation from underlying fund managers and the potential conflicts arising from placement fees.

key_organizations:
iCapital Advisors, LLC
iCapital Securities, LLC
BBR Partners


document_description: The document is a Form ADV Part 2A from iCapital Advisors, LLC, detailing brokerage practices, review of accounts, and client referrals and compensation. It outlines the brokerage practices for Private Access Funds and Direct Access Funds, including the selection of brokers and the use of 'soft dollar' credits. It also describes the review process for fund performance and the distribution of financial statements to investors. Additionally, it covers the role of iCapital Securities, LLC in private placements and the compensation structure for third-party broker-dealers.


document_description: The document outlines iCapital Advisors, LLC's financial arrangements and agreements with various partners, including Fidelity Brokerage Services LLC and National Financial Services LLC. It details the management fee allocations, custody rules for client funds, and investment discretion policies. The document also highlights potential conflicts of interest due to compensation arrangements with Fidelity.

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


document_description: The document outlines iCapital Advisors, LLC's policies on voting client securities and financial information. It specifies that iCapital does not anticipate owning equity securities with voting rights in Private Access Funds and delegates proxy voting for Direct Investment Funds to a Sub-Adviser. It also mentions the establishment of a Proxy Voting Policy for certain investments and provides financial disclosures, stating that iCapital has no financial commitments impairing its contractual obligations and has not undergone bankruptcy.


document_description: This document is a brochure supplement for iCapital Advisors, LLC, providing information about Eileen Duff Blalock, Phil Pool, John Robertshaw, Daniel Vene, and Nicholas Veronis. It supplements the iCapital Advisors, LLC's Form ADV Brochure.

title: FORM ADV PART 2B: Brochure Supplement

key_people:
Eileen Duff Blalock
Phil Pool
John Robertshaw
Daniel Vene
Nicholas Veronis
Michael Stanton

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

document_subtype: Brochure Supplement


document_description: This document provides the educational background, business experience, and other professional details of Phil Pool, a member of iCapital Advisor's investment committee. It includes his roles, past experiences, and supervisory details.

title: Form ADV Part 2B for Phil Pool

key_people:
Phil Pool
Michael Stanton

key_locations:
London
New York
Chicago

document_subtype: Form ADV Part 2B

key_organizations: Donaldson, Lufkin & Jenrette Securities Corporation


document_description: This document provides the educational background and business experience of John C. Robertshaw, a co-founder and special advisor to iCapital Network. It details his previous roles at Credit Suisse and Salomon Brothers, his educational background, and his current advisory role at iCapital Network. The document also states that Mr. Robertshaw has no disciplinary history and outlines his supervision and compensation details.

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

key_people:
John C. Robertshaw
Michael Stanton

key_organizations:
iCapital Network
Credit Suisse
Donaldson, Lufkin & Jenrette
Salomon Brothers
iCapital Securities LLC


document_description: This document provides the educational background, business experience, and other professional details of Daniel Vene, a member of Capital Advisor's investment committee and Co-Founder of iCapital Network. It includes information about his previous roles, educational qualifications, and licenses. The document also states that Mr. Vene has not been subject to any disciplinary events and outlines his current roles and supervision details.

title: Form ADV Part 2B for Daniel Vene

key_people:
Daniel Vene
Michael Stanton

key_organizations:
iCapital Advisors LLC
iCapital Network
Fir Tree Partners
Eaton Partners
Thomson Financial
PREA
NCREIF


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

title: Form ADV Part 2B for Nicholas Veronis

key_people:
Nicholas Veronis
Michael Stanton

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


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

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

document_subtype: Limited Partnership Agreement


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

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

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


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

title: Amended and Restated Limited Partnership Agreement


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes articles on exculpation and indemnification, amendments, voting and consents, and administrative provisions. The document is marked as confidential and proprietary, and it is subject to confidentiality under Federal Rule of Criminal Procedure 6(e).

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


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes sections on tax reporting consistency, general provisions, power of attorney, execution of additional documents, limited partner information, binding on successors, governing law and remedies for breach, waiver of partition, securities law matters, confidentiality, contract construction, arbitration, side letters, entire agreement, and bad actor disqualification information. Appendices provide definitions and regulatory and tax allocations.


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

key_people:
General Partner
Initial Limited Partner

document_subtype: Amended and Restated Limited Partnership Agreement

key_organizations: Glendower Access Secondary Opportunities IV GP LLC


document_description: This document outlines the terms and conditions of the partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes details about the partnership's name, offices, purpose, powers, and the status of limited partners. The partnership is organized under the Delaware Act and has provisions for changing its principal and registered offices. The General Partner has discretion over investment commitments and the management of the partnership's activities.

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

document_subtype: Partnership Agreement


document_description: This document is an excerpt from a Limited Partnership Agreement for BBR Partners, detailing the rights and obligations of Limited Partners, the effect of death, dissolution, or bankruptcy on a Limited Partner's rights, and the process for admitting additional Limited Partners before the final closing date. It outlines the contributions required from new or increasing Limited Partners and the limitations on their control over the partnership.

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


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


document_description: The document outlines the terms under which the General Partner can utilize alternative investment structures for legal, tax, regulatory, accounting, or other reasons. It specifies the conditions under which Limited Partners may be required to invest in Alternative Investment Vehicles and how these investments will be managed to ensure economic provisions are consistent with the original partnership agreement.

key_people:
General Partner
Limited Partners


document_description: The document outlines the terms and conditions related to allocations, distributions, and transfers of interests in the Alternative Investment Vehicle and the Partnership. It specifies the responsibilities of Limited Partners, the role of the General Partner, and the treatment of defaulting partners. It also discusses the economic terms and the establishment of Investment Subsidiaries for legal, tax, or regulatory reasons.


document_description: This document outlines the fees and expenses related to the partnership, including organizational expenses, partnership expenses, and management fees. It specifies the responsibilities of the General Partner and the Investment Manager regarding these expenses.

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


document_description: This document outlines the expenses and financial responsibilities of Limited Partners in the Glendower Access Secondary Opportunities IV (U.S.), L.P. It details the types of expenses covered, including travel, research, insurance, and legal fees, and how these are shared among partners. It also discusses the sharing of expenses with Parallel Access Funds and the conditions under which expenses are reimbursed or adjusted.

document_date: Not specified


document_description: This document outlines the financial responsibilities and management fee structure for Limited Partners in the Glendower Access Secondary Opportunities IV (U.S.), L.P. It specifies how tax-related expenses and management fees are allocated among Limited Partners based on their subscriptions and investment periods.

key_people:
General Partner
Limited Partner
Investment Manager


document_description: This document outlines the financial terms and obligations for partners in a limited partnership managed by BBR Partners. It details the calculation and payment of management fees, capital contributions, and the timing of payments. The management fee is calculated based on LIBOR plus 2% or 8%, whichever is higher, and is payable quarterly in advance. Capital contributions are required from each partner based on their subscription and percentage interest, with specific terms for initial contributions and drawdowns.

key_people:
Investment Manager
General Partner

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


document_description: The document outlines the procedures and conditions for capital contributions by Limited Partners to the Partnership, including initial drawdowns, additional contributions, deficiency drawdowns, and the authority of the General Partner to manage these processes. It also covers the return of unused contributions and the General Partner's authority to reduce subscriptions.

key_people:
General Partner
Limited Partner

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


document_description: The document outlines the terms related to capital contributions, returns, and adjustments for partners in the Glendower Access Secondary Opportunities IV (U.S.), L.P. It details the process for returning contributions upon the admission of an additional partner, the effect of such returns, and the interest applicable on unpaid contributions.


document_description: This document outlines the terms and conditions under which a Limited Partner may be designated as a 'Defaulting Partner' for failing to make required capital contributions or other payments. It details the remedies available to the Partnership, including specific performance, prohibition from future capital calls, and compulsory redemption of the Defaulting Partner's interest.


document_description: This document outlines the operational rules, special distributions, and tax payment obligations for a partnership. It specifies how distributions to defaulting partners are handled, the treatment of securities distributions, and the allocation of partnership net income and gains. It also details the partnership's obligations regarding tax liabilities and how these are treated as distributions to partners.


document_description: This document is an excerpt from a partnership agreement detailing tax liabilities, indemnification, and capital account management for partners. It outlines the responsibilities of the General Partner in determining tax liabilities and the obligations of Limited Partners to indemnify the partnership for tax-related claims. It also specifies conditions under which distributions to partners are prohibited and the maintenance of capital accounts.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the allocation of net gain or loss among partners, compliance with Treasury Regulations, and adjustments to capital accounts. The document specifies how allocations are made at the end of each fiscal year and the conditions under which adjustments are made to the carrying value of assets.


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


document_description: This document outlines the terms for the liquidation of the partnership, including the distribution of assets, expenses of the liquidator, and limitations on transfers and withdrawals of limited partnership interests. It specifies the responsibilities and liabilities of the liquidator and partners during the winding up of the partnership.


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


document_description: This document outlines the terms and conditions related to the transfer of interests, non-compliant transfers, multiple ownership, withdrawal rights, and removal of a limited partner within the partnership. It specifies the rights and obligations of the General Partner and Limited Partners, including conditions under which a Limited Partner may be removed or required to withdraw.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glenodwer Access Secondary Opportunities IV (U.S.), L.P. It outlines the indemnification provisions for Covered Persons and other parties associated with the partnership. The agreement specifies conditions under which indemnification is provided, limitations on indemnification, and the advance payment of expenses related to legal actions.


document_description: This document outlines the indemnification provisions for the partnership, including insurance policies, rights to indemnification from other sources, and the priority of indemnity obligations. It specifies the conditions under which the partnership may indemnify its members and the hierarchy of liability among the partnership, third-party indemnifiers, and the general partner.


document_description: This document outlines the procedures and conditions under which amendments to the partnership agreement can be made. It specifies the consent required from partners for various types of amendments, including those affecting economic rights and ERISA provisions. It also details the notification process for amendments and the concept of negative consent.

document_subtype: Partnership Agreement Amendment


document_description: The document outlines the procedures for obtaining consents and approvals under the Advisers Act, voting and consent requirements for Limited Partners, and administrative provisions for keeping accounts and records. It specifies the rights of Limited Partners to access certain documents and the discretion of the General Partner to withhold information deemed confidential.


document_description: The document outlines the financial reporting obligations of the General Partner to the Limited Partners in the partnership. It includes details on the filing of the Certificate of Limited Partnership, the preparation and transmission of annual financial statements and tax information, and the provision of quarterly reports. It also specifies the information rights of Limited Partners.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines provisions related to notices, accounting, and tax matters for the partnership. The document specifies how notices should be delivered to partners, the fiscal year of the partnership, the selection of independent accountants, and tax classification and responsibilities. It also details the role of the General Partner in ensuring the partnership's tax treatment and the designation of a Tax Matters Partner for fiscal years ending prior to January 1, 2018.


document_description: This document outlines the amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions related to the designation of the General Partner as the 'partnership representative' under the BBA, the responsibilities of partners regarding tax compliance, and the handling of imputed underpayments. The agreement also addresses the sharing of costs related to actions taken by the General Partner and the provision of information by partners to comply with tax laws.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the obligations of Limited Partners to provide information for compliance with FATCA and the consequences of non-compliance. It also addresses the non-requirement of Section 1045 rollovers for limited partnership interests.


document_description: This document is an amended and restated limited partnership agreement for Glendower ACCCA Secondary Opportunities IV (U.S.), L.P. It outlines various tax and accounting provisions, including those related to Section 1045, Section 732(d), Section 754, and Section 743(e) of the Internal Revenue Code. It also includes provisions for electing investment partnership status and tax reporting consistency. The document grants power of attorney to the General Partner for executing necessary legal documents.


document_description: This document outlines the terms and conditions of the partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions for the continuation and dissolution of the partnership, the execution of necessary documents, and the responsibilities of partners, including providing information for compliance and regulatory purposes.


document_description: This document is an Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the binding nature of the agreement on successors, governing law, remedies for breach, waiver of partition rights, securities law matters, and confidentiality obligations of the partners.


document_description: This document outlines the confidentiality obligations of Limited Partners regarding Partnership Information, which is considered a valuable trade secret. It specifies the conditions under which such information can be disclosed, including to professional advisors or as required by law, and the procedures to follow if disclosure is legally compelled.


document_description: This document outlines the confidentiality and information disclosure terms of the partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It specifies conditions under which the General Partner may withhold information from Limited Partners, the handling of third-party confidential information, and the legal remedies available for breaches of confidentiality. It also includes provisions for contract construction and the survival of confidentiality obligations post-withdrawal of a partner.


document_description: This document is an Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the terms and conditions of the partnership, including arbitration procedures, the use of side letters, and provisions for bad actor disqualification. The agreement specifies that any disputes will be settled through arbitration in New York City and allows for side letters to amend terms for specific limited partners. It also includes a clause for bad actor disqualification, requiring certain partners to provide information to ensure compliance with Rule 506 of Regulation D under the Securities Act.


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions related to the certification of a 20% Holder and confidentiality clauses.


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

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


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes definitions and terms related to defaulting access fund investors, ERISA partners, exempt entities, FATCA, feeder funds, and freely tradable securities.

document_subtype: partnership agreement


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


document_description: This document outlines the terms and conditions of the partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes definitions and explanations of key terms such as Management Agreement, Management Fee, Net Gain or Loss, Nonrecourse Liability, and Non-Voting Interest. The document is proprietary and confidential, and it is maintained by the General Partner.


document_description: This document outlines the terms and definitions related to the Glendower Access Secondary Opportunities IV (U.S.), L.P., including definitions for Offshore Access Fund, Organizational Expenses, Parallel Access Fund, Partner Interest, and other partnership-related terms.

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


document_description: This document is an appendix to a partnership agreement, detailing regulatory and tax allocations to comply with Treasury Regulation Section 1.704-1(b)(2)(iv). It includes provisions for minimum gain chargeback, nonrecourse deductions, limits on loss and deduction allocations, qualified income offset, and gross income allocation. It also addresses adjustments for changes in partner interests.

title: Appendix II: Regulatory and Tax Allocations

document_subtype: Partnership Agreement Appendix


document_description: The document outlines the special allocations and tax allocations for the partnership, allowing the General Partner to modify allocations to reflect economic interests and comply with tax regulations.

title: Glendower Access Secondary Opportunities IV (U.S.), L.P. II-2


document_description: Private Placement Memorandum for Glendower Access Secondary Opportunities IV (U.S.), L.P., an Access Fund into Glendower Capital Secondary Opportunities Fund IV, LP, offering Limited Partner Interests.

document_date: January 2018

document_subtype: Private Placement Memorandum

key_organizations:
BBR Partners
Glendower Capital


document_description: This document is a confidential private placement memorandum provided by iCapital Advisors, LLC to sophisticated investors for investment in Glendower Access Secondary Opportunities IV (U.S.), L.P. The memorandum includes details about the investment structure, legal disclaimers, and regulatory compliance. It emphasizes the confidential nature of the information and the lack of registration with the SEC or other regulatory bodies.

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

key_people: Glendower Access Secondary Opportunities IV GP LLC

key_locations:
Delaware
United States
England

key_organizations: Glendower Capital Secondary Opportunities Fund IV, LP


document_description: This document is an investment memorandum for the Access Fund, outlining the terms, risks, and restrictions associated with the investment. It emphasizes that investors must rely on their own examination of the fund and that no U.S. federal or state securities commission has recommended the interests. The memorandum supersedes previous offering literature and restricts the transferability and resale of interests. It also requires investors to certify the beneficial ownership of interests to ensure compliance with the Employee Retirement Income Security Act of 1974.

document_subtype: investment memorandum

key_organizations:
BBR Partners
Access Fund
Glendower


document_description: The document outlines the exemption of the General Partner from registration with the U.S. Commodity Futures Trading Commission (CFTC) as a Commodity Pool Operator (CPO) under CFTC Rule 4.13(a)(3). It details the conditions under which the exemption is valid, including limitations on marketing, investor qualifications, and commodity interest exposure. The document also notes that the CFTC has not reviewed or approved the offering or memorandum.

document_subtype: exemption notice


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

document_subtype: legal notice

key_organizations:
CFTC
NFA
BBR Partners


document_description: Table of contents for a confidential private placement memorandum related to Glendower Capital Secondary Opportunities Fund IV, LP.

title: GLDUS124 BBR Partners

document_subtype: Table of Contents


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

title: Summary of Principal Terms of the Access Fund

key_people:
General Partner
Investment Manager

document_date: October 2017

document_subtype: Investment Summary


document_description: The document outlines the offering of limited partner interests in the Access Fund, a private placement for certain U.S. investors. It details the investment structure, tax considerations, and minimum subscription requirements. The Access Fund is designed for U.S. taxable investors and certain tax-exempt investors willing to receive unrelated business taxable income (UBTI). The minimum capital commitment for the Access Fund is $250,000, while the minimum for the Underlying Fund is $5,000,000.

document_subtype: Investment Offering

key_organizations:
BBR Partners
Access Fund
Underlying Fund
Glendower GP


document_description: The document outlines the investment terms and conditions for the Access Fund's participation in the Underlying Fund, including provisions for subsequent closings, potential dilution of existing investors, and the formation of parallel access and feeder funds.

document_subtype: Investment Fund Document

key_organizations:
Access Fund
Underlying Fund
Glendower GP
BBR Partners


document_description: The document outlines the consequences of a Limited Partner's failure to provide necessary information or make capital contributions, which can lead to defaults under the Partnership Agreement. It details the remedies available to the Underlying Fund in case of such defaults, including forfeiture of interests and additional capital calls from compliant Limited Partners. The document also describes the bifurcated default process and the rights of the General Partner and Glendower GP in handling defaults.

key_people:
General Partner
Investment Manager
Glendower GP

key_organizations:
BBR Partners
Access Fund
Underlying Fund


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

key_organizations:
BBR Partners
Access Fund
Feeder Fund
Underlying Fund


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

document_subtype: Investment Agreement

key_organizations:
BBR Partners
Access Fund
Underlying Fund
Investment Manager
Placement Agents
Glendower GP


document_description: The document outlines the placement agent and fee structure for the Access Fund, which is a limited partner of the Underlying Fund. Raymond James & Associates, Inc. or Raymond James Financial Services, Inc. will serve as the primary placement agent. Limited Partners are required to pay a one-time upfront placement fee of up to 2.0% of their subscription. The document also details the management fee for the Underlying Fund and mentions marketing and fund servicing fees.

document_subtype: Investment Document

key_organizations:
Raymond James & Associates, Inc.
Raymond James Financial Services, Inc.
Glendower


document_description: The document outlines the financial reporting and tax implications for Limited Partners of the Access Fund. It details the provision of audited financial statements, IRS Schedule K-1, and quarterly reports to Limited Partners. It also discusses the U.S. federal income tax treatment of the Access Fund as a partnership and the implications for U.S. Tax-Exempt Investors, including the potential receipt of Unrelated Business Taxable Income (UBTI). The document advises Non-U.S. Investors to consider the Offshore Access Fund instead.

document_subtype: financial report

key_organizations:
BBR Partners
Access Fund
U.S. Internal Revenue Service


document_description: The document outlines certain ERISA considerations for prospective investors in the Access Fund, managed by BBR Partners. It discusses compliance with ERISA regulations, limitations on benefit plan investors, and potential liabilities for limited partners. It also covers amendment procedures for the Partnership Agreement.

key_organizations:
BBR Partners
Access Fund


document_description: The document outlines amendments to the Partnership Agreement for the Access Fund managed by BBR Partners. It discusses the conditions under which amendments can be made, the voting rights of the General Partner and Investment Manager, and the borrowing capabilities of the Access Fund. The document specifies that Limited Partners do not have voting rights on certain matters and details the use of a credit facility for funding capital calls and expenses.


document_description: The document outlines the roles and responsibilities of various parties involved in the Access Fund, including the General Partner, Limited Partners, legal counsel, auditor, administrator, and custodian. It specifies the conditions under which the General Partner may share information with other parties and highlights the legal counsel provided by Cleary Gottlieb Steen & Hamilton LLP and Maples and Calder. KPMG or another recognized firm will serve as the auditor, with an independent third party as the administrator and custodian.

document_subtype: Investor Information

key_organizations:
BBR Partners
Glendower GP
Cleary Gottlieb Steen & Hamilton LLP
Maples and Calder
KPMG


document_description: The document outlines certain risk factors and potential conflicts of interest associated with investing in the Access Fund, which is linked to an Underlying Fund. It highlights business and market risks, including economic changes, political conditions, and natural disasters, which could lead to substantial losses. The document also discusses the role of Placement Agents, such as Raymond James, who receive fees for introducing investors to the fund, creating potential conflicts of interest.


document_description: The document discusses the risks and conflicts of interest associated with investing in the Access Fund, an investment vehicle designed to facilitate investment into the Underlying Fund. It highlights that the Access Fund will not be registered under various acts, will issue illiquid securities, and will have no public market. Investors in the Access Fund will not have direct rights in the Underlying Fund and will bear additional expenses, potentially impacting returns. The document emphasizes the importance of reviewing the Underlying Fund's PPM for a comprehensive understanding of risks.


document_description: The document discusses the potential legal risks and liabilities associated with the Access Fund's significant ownership interests in portfolio companies, particularly in relation to ERISA controlled group liability. It references the 2013 Sun Capital Case and subsequent rulings that could impact private equity funds. The document also outlines the limitations on recourse, transferability, and voting rights for Limited Partners of the Access Fund, emphasizing the illiquid nature of the investment and the concentration risks involved.


document_description: The document outlines the terms and conditions related to the Access Fund's operations, including transfer restrictions, repayment of distributions, reinvestment rights, indemnity obligations, and expenses. It specifies the rights of the Glendower GP and the obligations of the Access Fund and its Limited Partners, including potential capital calls and indemnification responsibilities.


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


document_description: The document provides tax-related information for Limited Partners of BBR Partners, focusing on the implications of the 2017 Tax Legislation and other potential tax law changes. It discusses the need for tax advisors, annual income tax information, phantom income, tax-exempt investors and UBTI, non-U.S. investors and ECI, and the Foreign Account Tax Compliance Act (FATCA). The document emphasizes the importance of consulting tax advisors for specific circumstances.


document_description: The document discusses the implications of the Bipartisan Budget Act of 2015 on U.S. federal income tax audits of partnerships, specifically focusing on the BBA Rules. These rules require audits to be conducted at the partnership level, with adjustments payable by the partnership unless an alternative procedure is elected. The document outlines potential tax liabilities for partners and the Access Fund, and advises prospective investors to consult tax advisors due to the complex tax considerations involved.


document_description: This document provides a summary of U.S. federal income tax considerations for investments in the Access Fund. It is based on current laws and interpretations, which may change. The document does not cover all possible tax scenarios and is primarily for U.S. persons. Non-U.S. persons and those with special circumstances should consult their tax advisors. The summary assumes compliance with certain conditions by Limited Partners.


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


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


document_description: The document discusses the tax implications for the Access Fund and its Limited Partners, including the treatment of debt restructuring as a taxable event, potential investments in derivatives, and the impact of investing in entities treated as partnerships for U.S. federal income tax purposes. It also covers the implications of investing in Passive Foreign Investment Companies (PFICs) and the potential tax consequences for U.S. Tax-Exempt Investors due to Unrelated Business Taxable Income (UBTI).


document_description: The document provides tax-related information for U.S. Tax-Exempt Investors considering investment in the Access Fund. It discusses the implications of Unrelated Business Taxable Income (UBTI), excise taxes, and foreign tax credits. It also outlines the responsibilities of the Access Fund in filing tax returns and the potential for audits by the IRS. The document advises investors to consult their tax advisors regarding these issues.


document_description: The document outlines the tax reporting obligations for U.S. persons who are limited partners in a fund that invests in non-U.S. entities. It details the requirements for filing information returns, including the Report of Foreign Bank and Financial Accounts (FBAR), and the implications of owning interests in foreign entities. It also discusses the taxation of qualified dividend income for non-corporate taxpayers and the conditions under which dividends from U.S. and qualified foreign corporations are taxed at reduced rates.


document_description: The document discusses the tax implications for Limited Partners of the Access Fund, including qualified dividend income, dividends-received deduction, Medicare tax, and other taxes. It also addresses potential legislative changes that could affect the Access Fund and its Limited Partners.


document_description: The document is an investment memorandum for prospective limited partners of the Access Fund, detailing U.S. federal income tax considerations and regulatory matters. It highlights the lack of IRS rulings, the need for investors to consult tax advisors, and the unregistered status of the Interests under the Securities Act of 1933. It also discloses past regulatory issues involving Raymond James, a placement agent for the offering.


document_description: The document outlines the legal and regulatory compliance considerations for the Access Fund under various U.S. laws, including the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Commodity Exchange Act of 1974. It details the exemptions the Access Fund expects to qualify for, such as not registering under the Exchange Act due to not having a large number of equity security holders, and being exempt from the Investment Company Act by only selling to 'qualified purchasers.' The document also discusses exemptions from CPO and CTA registration under the Commodity Exchange Act. Additionally, it highlights legal considerations for investors, including anti-money laundering requirements and potential mandatory redemption of interests acquired in violation of applicable laws.


document_description: The document outlines regulatory compliance requirements for investors in the Glendower GP's Access Fund, focusing on anti-money laundering measures and ERISA considerations. It specifies that investors must verify their source of funds and comply with OFAC regulations. The document also clarifies that the General Partner and Investment Manager are not subject to the EU's AIFM Directive and details ERISA compliance for U.S. pension plans.


document_description: The document discusses the implications of investing in the Access Fund for ERISA Plans and Individual Plans, focusing on fiduciary responsibilities and potential prohibited transactions under ERISA and the Code. It highlights the 2017 Fiduciary Rule and its impact on fiduciary relationships, particularly the Seller's Exclusion for sophisticated plans. The document also addresses the conditions under which the Access Fund's assets might be considered 'plan assets' and the significance of the 25% ownership rule by benefit plan investors.


document_description: This document is a supplement to the Confidential Private Placement Memorandum for Glendower Access Secondary Opportunities IV (U.S.), L.P. It updates and modifies the Memorandum, particularly regarding the investment in Glendower Capital Secondary Opportunities Fund IV, LP. The supplement clarifies that it does not alter the 'Important Disclosures' section of the Memorandum and emphasizes confidentiality. It also allows investors to disclose tax-related information to advisors and authorities but restricts other disclosures to prevent securities law violations.


document_description: The document outlines amendments to the Summary of Principal Terms of the Access Fund, detailing the expenses that the Access Fund will cover. These include management fees, organizational expenses, liquidation expenses, taxes, accounting and audit fees, legal costs, and other operational expenses. It also specifies that expenses related to the General Partner and Feeder Fund will be borne by the Access Fund.


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


document_description: The document outlines amendments to the risk factors and potential conflicts of interest related to investing in the Access Fund. It highlights the lack of direct rights for investors in the Access Fund against the Underlying Fund, the potential for indemnification obligations, and the possibility of in-kind distributions. It also discusses the repayment of distributions and indemnity obligations of the Access Fund.


document_description: The document outlines the indemnity obligations of the Access Fund and the Underlying Fund, including the funding of these obligations through capital calls or return of distributions from Limited Partners. It details the expenses and management costs associated with both funds, which are borne by the Access Fund, and highlights the uncapped obligations of Limited Partners to fund certain expenses. The document also mentions amendments to risk factors and potential conflicts of interest related to multiple layers of expenses.


document_description: This document is a confidential private placement memorandum related to an underlying fund, marked as proprietary and confidential. It is subject to confidentiality under Federal Rule of Criminal Procedure 6(e).


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


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


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the past performance of the SOF funds managed by former Deutsche Bank employees now part of Glendower Capital and BBR Partners. The memorandum includes forward-looking statements and emphasizes that past performance should not be solely attributed to the current managers. It also notes that the legal and tax structures for the fund's activities are assumed to be in place, pending final FCA authorization. The memorandum is not an offer or solicitation in jurisdictions where it is unlawful, and any inconsistencies with the fund partnership agreement will defer to the latter.


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the exemption of Glendower Capital, LLP and the General Partner from registration with the U.S. Commodity Futures Trading Commission (CFTC) as a Commodity Pool Operator (CPO) under specific CFTC regulations. The memorandum is prepared by representatives of the fund and furnished by Credit Suisse as the placement agent. It details the roles and limitations of Credit Suisse in this capacity, including the receipt of placement fees and the nature of their advisory services. The document emphasizes the need for potential investors to make independent investment decisions and consult their own advisors.


document_description: The document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the role of Credit Suisse as a placement agent and potential conflicts of interest due to fees and commissions. It also includes disclaimers about tax advice and specific notices for New Hampshire and Florida residents regarding securities registration and purchaser rights.


document_description: This document provides contact information for Glendower Capital and Credit Suisse Asset Management, including addresses and key personnel emails. It is marked as confidential and is related to a private placement memorandum.


document_description: This document is a confidential private placement memorandum for Glendower Capital Secondary Opportunities Rand IV. It includes sections on executive summary, investment performance, principal terms, fund management, risk factors, conflicts of interest, legal considerations, and various appendices.


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: The document is an executive summary for the Glendower Capital Secondary Opportunities Fund IV, LP, a fund formed by Glendower Capital, an independent investment firm. The fund seeks $1.75 billion in commitments to generate risk-adjusted returns through a diverse portfolio of secondary market investments. It is the fourth fund led by Carlo Pirzio-Biroli and Charles Smith, focusing on secondary private markets after their spin-out from Deutsche Asset Management in 2017.


document_description: The document is a confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the history and strategy of the fund, including its spin-out from Deutsche Asset Management in 2017. The memorandum highlights the benefits of secondary market investing, such as capitalizing on information asymmetries and mitigating blind pool risk. It also discusses the transition of the secondary market to an institutionalized market with significant transaction volumes. The document includes past performance data of previous funds managed by the Glendower SOF Team, emphasizing that past performance is not indicative of future results.


document_description: The document outlines the investment strategy and objectives of the Glendower Capital Secondary Opportunities Fund IV, LP. The fund focuses on bespoke liquidity solutions and GP-led secondary deals, targeting less competitive transactions and employing a distinctive investment strategy. The strategy includes a focus on smaller fund secondaries, a true value approach, purchasing mature fund interests at a discount, efficient portfolio management, and a barbell approach to portfolio construction. The fund leverages relationships with fund sponsors and sellers to gain informational advantages and solve complex transactions.


document_description: The document is an executive summary of the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the fund's strategy of leveraging relationships with over 180 fund sponsors to identify investment opportunities. The fund conducts a rigorous analysis of operational, financial, and market risks, cash flow, and management of portfolio companies. It emphasizes strong alignment of interests between the Glendower SOF Team and investors, with senior members committing a minimum of 1.0% of the fund and receiving all carried interest. Deutsche Bank will not be involved in the management or receive any carried interest from the fund. Key terms, risks, and potential conflicts of interest are detailed in subsequent sections of the memorandum.


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP, detailing investment performance.


document_description: The document provides an overview of the investment performance of the Glendower Capital Secondary Opportunities Fund (SOF) as of September 30, 2017. It highlights the strong buyout-like returns delivered by the SOF Team, with a focus on key metrics such as Net IRR, TVPI, and DPI. The report includes detailed performance data for various SOF funds, showing a 1.5x Net Multiple and a 23% Net IRR across the program. The document also includes a table summarizing the performance of individual funds within the SOF Program.


document_description: The document provides an analysis of the investment performance of the Glendower Capital Secondary Opportunities Fund TV, LP, comparing it against the Cambridge Associates Secondaries Benchmark statistics as of September 30, 2017. The SOF Funds, including SOF, SOF D, SOF II, and SOF III, show strong Net IRR, DPI, and TVPI across various vintage years. The performance is benchmarked against both secondary fund benchmarks and top quartile buyout funds. The data is based on unaudited results and emphasizes that past performance is not indicative of future results.


document_description: The document provides an analysis of the investment performance of Glendower Capital's Secondary Opportunities Funds (SOF, SOF II, and SOF III). It highlights the consistency in performance metrics such as Net Contributed Capital, Net IRR, TVPI, and DPI across different economic cycles. The funds show a peak in Net Contributed Capital below 50% around 16 quarters from inception, with Net IRR stabilizing at around 20% after 20 quarters. Capital is typically returned in about 24 quarters, and TVPI converges to a range of 1.65 - 1.65x by liquidation. The document emphasizes that past performance is not indicative of future results.


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


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: The document outlines the investment strategy and sourcing approach of the Glendower Capital Secondary Opportunities Fund IV, LP. The Manager aims to source less intermediated deal flow by leveraging a global network of relationships and focusing on non-monetary factors such as confidentiality and speed of transaction. The fund's investments are diversified across North America, Europe, Asia, and other regions. The document highlights the fund's extensive industry network and disciplined deal selection process.


document_description: The document discusses the secondary market pricing trends for Glendower Capital Secondary Opportunities Fund IV, LP, highlighting cash flows, mark-to-market pricing, and effective discounts at closing for buyers. It includes an analysis of secondary market pricing from 2005 to 2017, noting an overheated market in 2006 and 2007, and a recovery in pricing from 2010 onwards. The document references various market analyses and is marked as confidential.


document_description: The document provides a breakdown of seller composition for Glendower Capital Secondary Opportunities Fund IV, LP, highlighting the percentage of various seller types such as General Partners, Financial Institutions, and Public Pensions. It also discusses the emergence of tail-end sales in the secondary market, with traditional secondary buyers and funds-of-funds entering as sellers. The document includes data on private equity assets by fund vintage year, indicating a significant supply of secondary opportunities in pre-crisis bubble funds.