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

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


source: doj

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 financial instruments, third-party indemnifiers, transfer regulations, and the underlying fund, Glendower Capital Secondary Opportunities IV, LP.

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

document_type: legal

key_locations:
United States
District of Columbia
European Union

document_subtype: Limited Partnership Agreement

key_organizations: United States Department of the Treasury


document_description: This document is an appendix to a partnership agreement, detailing regulatory and tax allocation provisions to comply with Treasury Regulation Section 1.704-1(b)(2)(iv). It includes sections on regulatory allocations, nonrecourse indebtedness, 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

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


document_description: The document outlines the allocation of income, gain, loss, deduction, or credit among partners of Aspen Grove Capital, LLC, in accordance with tax regulations. It includes provisions for special allocations to reflect economic interests and tax allocations as per Section 704 of the Code.

document_type: financial


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 in limited partner interests in the Access Fund, which invests in the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal and regulatory framework, including exemptions from registration under the U.S. Securities Act and the Investment Company Act, and specifies the qualifications required for investors.

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

key_people:
General Partner
Investment Manager

key_locations: Delaware U.S. England

document_subtype: Private Placement Memorandum

reference_numbers:
Rule 50I(a)
Section 2(aX51)


document_description: This document is an investment memorandum for Aspen Grove Capital, LLC's Access Fund. It outlines the terms and conditions of the investment, including the need for prospective investors to consult their own advisors for legal, tax, regulatory, financial, and accounting advice. The memorandum is not a prospectus and does not contain all necessary information for an investment decision. It includes summaries of the Partnership Agreement and Subscription Agreement, which are subject to change by the General Partner. The document also addresses U.S. Treasury Regulations compliance and advises investors to seek independent tax advice.

document_subtype: Investment Memorandum

key_organizations:
Aspen Grove Capital, LLC
Access Fund
Underlying Fund
Glendower


document_description: This document is an investment memorandum for Aspen Grove Capital, LLC, detailing subscription requirements and confidentiality agreements for potential investors. The minimum subscription for interests is $250,000, with potential for lesser amounts at the General Partner's discretion. The memorandum includes legal restrictions on the distribution and sale of interests in certain jurisdictions and emphasizes the confidentiality of the information contained within.

document_subtype: investment memorandum

key_organizations:
Aspen Grove Capital, LLC
Glendower
Underlying Fund
Access Fund
Institutional Capital Network, Inc.


document_description: This document is an investment memorandum for Aspen Grove Capital, LLC's Access Fund. It outlines the terms of the offering, including the risks and restrictions associated with the investment. The memorandum supersedes any previous investment proposals and emphasizes that no unauthorized information should be relied upon. It also notes the restrictions on transferability and resale of interests, and the requirement for investors to certify the beneficial ownership of interests to ensure compliance with the Employee Retirement Income Security Act of 1974.

key_organizations:
Aspen Grove Capital, LLC
Access Fund
Glendower


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

document_subtype: exemption notice


document_description: The document discusses the aggregation of positions for CFTC position limit and large trader reporting purposes, and the filing of a notice of exemption from registration with the CFTC by the investment manager.

document_type: correspondence

document_subtype: legal notice

key_organizations:
Aspen Grove Capital, LLC
CFTC
NFA


document_description: This document is a table of contents for a confidential private placement memorandum related to Aspen Grove Capital, LLC. It includes sections on the introduction, summary of principal terms of the access fund, certain risk factors and potential conflicts of interest, and tax, regulatory, and certain ERISA considerations. An appendix includes a confidential private placement memorandum of Glendower Capital Secondary Opportunities Fund IV, LP.

title: GLOLIS130 Aspen Grove Capital, LLC

document_type: other

document_subtype: Table of Contents


document_description: The document is an introduction to Glendower Access Secondary Opportunities IV (U.S.), L.P., a Delaware limited partnership, which invests in Glendower Capital Secondary Opportunities Fund IV, LP. The fund aims to generate attractive risk-adjusted returns through diverse investments in private equity funds on the secondary market. It includes a warning for U.S. and Non-U.S. investors regarding tax implications and advises reading the Underlying Fund's Private Placement Memorandum.


document_description: The document outlines the offering and investment details for the Access Fund by Aspen Grove Capital, LLC. It describes the types of investors suitable for the fund, including U.S. taxable investors and U.S. tax-exempt investors willing to receive unrelated business taxable income (UBTI). It also details the minimum subscription requirements for both the Access Fund and the Underlying Fund, and mentions potential tax consequences for non-U.S. investors.

document_subtype: Investment Offering Document

key_organizations:
Aspen Grove Capital, LLC
Access Fund
Underlying Fund
Glendower GP


document_description: The document outlines the procedures for initial and subsequent closings of the Access Fund managed by Aspen Grove Capital, LLC. It details the responsibilities of Limited Partners regarding capital contributions, interest payments, and management fees during these closings.

document_subtype: Investment Fund Document

key_organizations:
Aspen Grove Capital, LLC
Access Fund
Glendower GP


document_description: The document outlines the investment terms for the Access Fund 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 agreement


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

document_subtype: investment fund document


document_description: The document outlines the terms and conditions related to defaults in capital contributions by Limited Partners in the Access Fund, which may lead to the Access Fund being treated as a Defaulting Partner in the Underlying Fund. It details the remedies available to the General Partner and the Underlying Fund in case of such defaults, including the potential forfeiture of interests and the assignment of rights to exercise remedies against Defaulting Access Fund Investors.

key_people:
General Partner
Investment Manager
Glendower GP

document_subtype: Partnership Agreement

key_organizations:
Aspen Grove Capital, LLC
Access Fund
Underlying Fund


document_description: The document outlines various expenses and costs associated with the Access Fund, including legal, administrative, and operational expenses. It details costs related to litigation, investment banking, consulting services, and insurance, among others.

document_subtype: financial report

key_organizations:
Aspen Grove Capital, LLC
Access Fund
Underlying Fund
General Partner
Investment Manager


document_description: The document outlines the financial responsibilities and fee structures for Limited Partners in relation to the Access Fund and Feeder Funds managed by Aspen Grove Capital, LLC. It details the allocation of operating expenses, management fees, and other costs associated with the Access Fund and its relationship with the Underlying Fund.

document_subtype: Investment Fund Agreement

key_organizations:
Aspen Grove Capital, LLC
Access Fund
Feeder Fund
Underlying Fund


document_description: This document outlines the management fee structure for Limited Partners in the Access Fund managed by Aspen Grove Capital, LLC. It details the calculation of management fees based on the investment period of the Underlying Fund and the subscription amounts of the Limited Partners. The document also specifies the distribution of management fees to the Investment Manager and Placement Agents, and mentions additional fees such as the Underlying Fund Management Fee and carried interest to Glendower GP.

document_subtype: Investment Agreement

key_organizations:
Aspen Grove Capital, LLC
Glendower GP


document_description: The document outlines the terms and conditions for the Access Fund's use of placement agents, including Raymond James & Associates, Inc., for investment in an Underlying Fund. It details the placement fees, marketing and fund servicing fees, and the management fee for the Underlying Fund.

key_organizations:
Aspen Grove Capital, LLC
Raymond James & Associates, Inc.
Raymond James Financial Services, Inc.
Glendower GP


document_description: The document outlines the carried interest, indemnification, and withdrawal/transfer policies for Aspen Grove Capital, LLC's Access Fund. It details the carried interest distribution to Glendower GP, indemnification obligations of the Access Fund, and conditions for withdrawal and transfer of interests by Limited Partners.


document_description: The document outlines the financial reporting and tax implications for Limited Partners of the Access Fund, managed by Aspen Grove Capital, LLC. 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 expectation of receiving Unrelated Business Taxable Income (UBTI). The document advises Non-U.S. Investors to consider the Offshore Access Fund instead.

key_organizations:
Aspen Grove Capital, LLC
Access Fund
U.S. Internal Revenue Service


document_description: The document outlines the borrowing and credit support capabilities of the Underlying Fund and its impact on the Access Fund's ability to borrow funds. It also details investor eligibility criteria and confidentiality obligations for Limited Partners. Additionally, it clarifies the disclosure rights regarding U.S. tax treatment and structure of the Access Fund.


document_description: The document outlines the legal and administrative structure of Aspen Grove Capital, LLC, including the roles of legal counsel, auditor, administrator, and custodian. It specifies the conditions under which the General Partner may share Limited Partner information 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.

key_people:
Cleary Gottlieb Steen & Hamilton LLP
Maples and Calder

document_subtype: Investment Fund Information

key_organizations:
Aspen Grove Capital, LLC
Glendower GP
Access Fund
KPMG


document_description: The document discusses the risks and conflicts of interest associated with investing in the Access Fund, an investment vehicle formed to facilitate investment into the Underlying Fund. It highlights the lack of registration under various acts, restrictions on transfer, and potential for total loss of investment. The document also notes the additional expenses borne by the Access Fund, which may impact returns, and the lack of investor rights in the Underlying Fund.


document_description: The document outlines the terms and conditions of the Access Fund managed by Aspen Grove Capital, LLC. It discusses indemnification provisions, capital contributions, co-investment opportunities, and compensation structures. The document highlights potential risks and conflicts of interest for investors, including indemnity obligations and in-kind distributions. It also mentions the role of iCapital Securities, LLC in receiving placement fees.

key_organizations:
Aspen Grove Capital, LLC
iCapital Securities, LLC
Glendower GP


document_description: The document discusses the roles of the General Partner and Investment Manager in retaining investment advisers or Placement Agents for marketing and selling interests. It highlights potential conflicts of interest and how they are addressed. It also covers the management of other funds or Managed Accounts with similar strategies, the valuation of assets, and the potential uncertainties involved.

key_organizations:
Aspen Grove Capital, LLC
iCapital Network
Glendower


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

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


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

key_organizations:
Aspen Grove Capital, LLC
Glendower
Underlying Fund
Access Fund


document_description: The document outlines the financial obligations and rights of the Access Fund in relation to the Underlying Fund managed by Glendower GP. It details the conditions under which the Access Fund may need to repay distributions, reinvest capital, and indemnify various parties. It also discusses the multiple layers of expenses that the Access Fund and its Limited Partners may incur.

key_people:
General Partner
Limited Partners

key_organizations:
Aspen Grove Capital, LLC
Glendower GP
Access Fund
Underlying Fund


document_description: The document discusses the implications of investors subscribing for interests in a subsequent closing of the Underlying Fund managed by Aspen Grove Capital, LLC. It covers topics such as public disclosure requirements, borrowing strategies, and the risks associated with leveraging and collateralizing fund assets.


document_description: The document is an investment memorandum for Aspen Grove Capital, LLC, detailing the management of cash flows, over-commitment risks, lack of diversification, forward-looking statements, and disqualification of certain 'bad actors' from Rule 506 offerings. It outlines the potential risks and strategies related to the Access Fund's investment in the Underlying Fund.

key_organizations:
Aspen Grove Capital, LLC
Access Fund
Underlying Fund
Securities Act
Regulation D
SEC


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 administrative burdens and potential liabilities. The document also addresses the implications of the Dodd-Frank Act on financial market intermediaries and the derivatives market.

document_subtype: regulatory compliance

key_organizations:
Aspen Grove Capital, LLC
Glendower GP
Access Fund
Underlying Fund
SEC
CFTC


document_description: The document discusses the potential impacts of the 2017 Tax Legislation on the Access Fund and its investments. It highlights changes in U.S. tax law that could affect the taxation of Limited Partners' investments, including limitations on interest expense deductibility, changes in corporate tax rates, and the treatment of foreign income. The document advises prospective investors to seek independent legal, tax, and financial advice before investing in the Access Fund.

title: Impact of 2017 Tax Legislation on Access Fund

key_locations:
United States
Cayman Islands

document_subtype: legal advisory

key_organizations:
Aspen Grove Capital, LLC
Access Fund


document_description: The document provides tax-related information for Limited Partners of Aspen Grove Capital, LLC, including implications of the 2017 Tax Legislation, potential changes in tax laws, and the requirement for tax filings. It discusses 'phantom' income, tax-exempt investors and UBTI, non-U.S. investors and ECI, and FATCA compliance requirements.

document_subtype: tax information

key_organizations:
Aspen Grove Capital, LLC
Access Fund
Underlying Fund
IRS


document_description: The document discusses the impact of the Bipartisan Budget Act of 2015 on U.S. federal income tax audits of partnerships, specifically focusing on the BBA Rules and their implications for partnerships like the Access Fund. It outlines the potential tax liabilities for current and former partners and the possibility of adverse tax consequences due to the BBA Rules. The document also advises prospective Limited Partners to consult tax advisors regarding the complex tax considerations involved in investing in the Access Fund.

document_subtype: Partnership Audit Legislation


document_description: The document discusses potential tax implications for Limited Partners of the Access Fund, including the possibility of IRS audits leading to increased taxable income or decreased losses. It outlines the responsibilities of the General Partner in contesting tax adjustments and the limitations on Limited Partners' participation in related proceedings.

document_subtype: tax considerations

key_organizations:
Aspen Grove Capital, LLC
Access Fund
IRS


document_description: This document provides a summary of certain U.S. federal income tax considerations related to an investment in the Access Fund by Aspen Grove Capital, LLC. It outlines the tax implications for U.S. persons and highlights that the discussion is based on current laws and interpretations, which may change. The document advises Limited Partners to consult their own tax advisors, especially if they are not U.S. persons or fall under special categories such as financial institutions or insurance companies.


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

document_subtype: tax summary


document_description: Discussion of tax consequences for Limited Partners in the Access Fund, including tax basis, distributions, and allocations of income and loss.

document_subtype: tax document


document_description: The document outlines the tax implications and conditions related to the sale of interests in Aspen Grove Capital, LLC. It discusses capital gains, tax basis adjustments, and limitations on the deductibility of interest expenses for non-corporate taxpayers. The document also mentions the conditions under which the Access Fund would terminate for U.S. federal income tax purposes and the potential election under Section 754 of the Code.

key_people:
General Partner
Limited Partner


document_description: The document discusses the U.S. federal income tax implications for the Access Fund, including the treatment of capital losses, capital gains, interest income, and debt investments. It outlines the amortization of start-up and organizational expenses, limitations on the deductibility of capital losses, and the tax treatment of various types of income and gains. The document also addresses the uncertainties in tax law related to debt restructuring and the classification of debt instruments.


document_description: The document discusses the tax implications for U.S. persons and U.S. Tax-Exempt Investors involved with Aspen Grove Capital, LLC, particularly in relation to Controlled Foreign Corporations (CFCs) and foreign currency transactions. It outlines the tax responsibilities and potential income classifications for Limited Partners, including the impact of the 2017 Tax Legislation on deferred earnings and the treatment of foreign currency gains or losses. The document advises Limited Partners to consult tax advisors regarding these complex rules.


document_description: The document discusses tax implications for U.S. Tax-Exempt Investors investing in the Access Fund, including potential UBTI, excise taxes, and foreign tax credits. It advises investors to consult tax advisors regarding these issues. The Access Fund's tax returns are subject to IRS audits, and the General Partner has authority over tax matters.

document_subtype: investment memorandum


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


document_description: This 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 affecting the Access Fund.


document_description: The document is an investment memorandum for Aspen Grove Capital, LLC, discussing U.S. federal income tax rules and considerations for prospective Limited Partners in the Access Fund. It highlights the lack of IRS rulings, potential changes in tax consequences, and advises consulting tax advisors. It also covers regulatory matters, including the unregistered offer and sale of Interests under the Securities Act of 1933, reliance on exemptions, and restrictions on transferability. Additionally, it discloses past regulatory issues with Raymond James related to auction rate securities.

key_locations:
United States
Puerto Rico
Virgin Islands
District of Columbia

key_organizations:
Aspen Grove Capital, LLC
Raymond James Financial Services, Inc.
Securities and Exchange Commission


document_description: The document outlines the regulatory exemptions and legal considerations for the Access Fund under various U.S. financial laws, including the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Commodity Exchange Act of 1974. It details the fund's reliance on specific exemptions to avoid registration and reporting requirements, and highlights legal and tax considerations for investors, as well as compliance with anti-money laundering regulations.

document_subtype: Legal Disclosure

key_organizations:
Aspen Grove Capital, LLC
Access Fund
General Partner
Investment Manager
National Futures Association


document_description: The document discusses regulatory compliance and anti-money laundering measures for investors in the Access Fund managed by Glendower GP. It outlines the requirements for investors to verify their source of funds and comply with OFAC regulations. The document also addresses the non-applicability of the AIFM Directive to the General Partner and Investment Manager, and ERISA considerations for U.S. pension plans investing in the Access Fund.

document_subtype: memorandum

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


document_description: The document discusses the considerations and legal implications for ERISA Plans and Individual Plans investing in the Access Fund managed by Aspen Grove Capital, LLC. It highlights the fiduciary responsibilities under ERISA and the 2017 Fiduciary Rule, including potential prohibited transactions and the Seller's Exclusion. The document also outlines the conditions under which the Access Fund's assets may be considered 'plan assets' and the implications of such a designation.

document_subtype: investment advisory

key_organizations:
Aspen Grove Capital, LLC
U.S. Department of Labor


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

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

document_date: March 2018

document_subtype: Private Placement Memorandum Supplement

key_organizations:
Aspen Grove Capital, LLC
Glendower Capital


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

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

document_subtype: amendment


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

key_organizations:
Aspen Grove Capital, LLC
Access Fund
Underlying Fund


document_description: The document contains amendments to the risk factors and potential conflicts of interest sections related to the Access Fund's investment in the Underlying Fund. It outlines the limitations on investors' rights, potential indemnity obligations, and the possibility of in-kind distributions. It also addresses the repayment of distributions and indemnity obligations of the Access Fund.

key_organizations:
Aspen Grove Capital, LLC
Access Fund
Underlying Fund
Glendower GP


document_description: The document outlines the indemnity obligations of the Access Fund and the Underlying Fund, including the requirement for Limited Partners to return distributions to fund indemnifications. It details the funding mechanisms for these obligations, including capital calls and the use of Access Fund assets. The document also discusses expenses and management costs associated with the Access Fund and Underlying Fund, and the obligations of Limited Partners to fund certain expenses beyond their subscription.

document_subtype: Partnership Agreement


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

title: Underlying Fund Confidential Private Placement Memorandum


document_description: Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, associated with Aspen Grove Capital, LLC and Credit Suisse.

key_organizations:
Aspen Grove Capital, LLC
Glendower Capital
Credit Suisse


document_description: A confidential legal document related to Aspen Grove Capital, LLC, marked as confidential under Federal Rule of Criminal Procedure 6(e).


document_description: This document is an amended and restated confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, circulated to a limited number of qualified prospective investors for evaluating an investment in the fund's limited partner interests. It includes details on the fund's financial promotion under the UK Financial Services and Markets Act 2000 and outlines the terms, merits, and risks of the offering.

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

document_subtype: Private Placement Memorandum

key_organizations:
Glendower Capital LLP
UK Financial Conduct Authority


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

title: Confidential Private Placement Memorandum

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


document_description: This document is a confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, managed by Aspen Grove Capital, LLC. It discusses the past performance of the SOF funds managed at Deutsche Bank and the transition of the management team to Glendower Capital (U.S.), LLC. The memorandum includes forward-looking statements and outlines the legal and tax structure required for the fund's activities. It emphasizes that the memorandum does not constitute an offer or solicitation in any jurisdiction where it is unlawful and that the fund's partnership agreement will control in case of inconsistencies. The document also disclaims responsibility for the accuracy of information obtained from external sources.

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

document_subtype: Confidential Private Placement Memorandum


document_description: This memorandum outlines the exemption status of Glendower Capital and its general partner from CFTC registration, details the role of Credit Suisse as placement agent, and advises potential investors to make independent investment decisions. It emphasizes that Credit Suisse is not acting as an investment adviser or fiduciary and will receive a placement fee based on investor subscriptions.

key_organizations: U.S. Commodity Futures Trading Commission


document_description: The document is a confidential private placement memorandum related to Aspen Grove Capital, LLC and 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 legal notices for New Hampshire and Florida residents regarding securities registration and rights of purchasers.

key_locations:
New Hampshire
Florida


document_description: Contact information for Glendower Capital and associated entities, including Glendower Capital, LLP, Glendower Capital (U.S.), LLC, and Credit Suisse Asset Management Limited. The document is marked confidential and is related to a private placement memorandum.

title: Glendower Capital Secondary Opportunities Fund IV, LP

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

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


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

document_type: tabular

key_organizations:
Aspen Grove Capital LLC
Glendower Capital


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


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

title: Executive Summary


document_description: The document is an executive summary for the Glendower Capital Secondary Opportunities Fund IV, LP, a fund formed by Glendower Capital, LLP. The fund seeks US$1.75 billion in commitments to invest in secondary private markets, targeting a diverse portfolio including buyouts, growth capital, and real estate. It is the fourth fund led by Carlo Pirzio-Biroli and Charles Smith, following their spin-out from Deutsche Asset Management in 2017.

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

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

key_organizations:
Glendower Capital LLP
Deutsche Asset Management
Deutsche Bank


document_description: The document is an executive summary of the Glendower Capital Secondary Opportunities Fund IV, LP, highlighting its investment strategy, alignment of interests, and key terms. It emphasizes the fund's rigorous analysis approach, alignment of interests between the fund sponsors and investors, and the exclusion of Deutsche Bank from management roles.

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

key_people:
Glendower SOF Team
Investment Committee of the Fund

key_organizations:
Glendower Capital
Deutsche Bank


document_description: This document is a confidential private placement memorandum related to the investment performance of Glendower Capital Secondary Opportunities Fund IV, LP, managed by Aspen Grove Capital, LLC.

title: Investment Performance


document_description: The document provides a performance analysis of the Glendower Capital Secondary Opportunities Fund IV, LP, comparing it against the Cambridge Associates Secondaries Benchmark statistics as of September 30, 2017. It includes data on Net IRR, DPI, and TVPI for various SOF funds across different vintage years, highlighting their performance relative to their peer groups.

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

document_subtype: investment performance report

key_organizations:
Glendower Capital
Cambridge Associates


document_description: The document provides an analysis of the investment performance of the Glendower Capital Secondary Opportunities Fund IV, LP, comparing it with SOF, SOF II, and SOF III. It highlights the consistency in Net Contributed Capital, Net IRR, TVPI, and DPI across different economic cycles. The funds show a peak in Net Contributed Capital below 50% at around 16 quarters from inception, with Net IRR leveling off at around 20% after 20 quarters. Capital is typically returned in about 24 quarters, and TVPI converges to the 1.65x range by liquidation. The document emphasizes the consistency of the investment strategy since 2006.

document_subtype: Investment Performance Report

key_organizations:
Glendower Capital
Aspen Grove Capital, LLC


document_description: The document compares the performance of the SOF Program and its components (SOF, SOF D, SOF II, SOF III) against public market indexes such as the MSCI World Index, Russell 2000 Index, and Thomson Reuters Private Equity Buyout Index. The SOF Program shows favorable performance compared to these indices. The methodology used for comparison is the Long Nickels method, which involves replicating net cash flows in each index to calculate Net IRR.

key_organizations:
Glendower Capital
Aspen Grove Capital LLC


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

title: Summary of Principal Terms


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

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

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

document_subtype: Investment Fund Summary


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


document_description: The document discusses the attractiveness of secondary investments in private equity portfolios, highlighting their ability to complement primary investments, provide pricing flexibility, mitigate blind pool risk, and reduce the J-curve effect. It also outlines the illiquid nature of private equity assets and the opportunities in the secondary market due to industry dynamics.


document_description: The document discusses the growth and pricing trends in the secondary private equity market, highlighting key drivers such as the growth of the primary market and increased trading propensity. It includes data on total private equity assets and annual secondary volumes, as well as pricing trends in the secondary market.

document_subtype: financial report

key_organizations:
Glendower Capital
Greenhill
Preqin
Dow Jones


document_description: The document provides an analysis of the secondary market pricing trends from 2005 to 2017, highlighting the fluctuations in market pricing and volume, particularly during the financial crisis and subsequent recovery. It discusses the impact of cash flows, mark-to-market pricing, and the effective discounts at closing for buyers. The analysis includes data from various sources and emphasizes the stability of the market post-2014.

title: Glendower Capital Secondary Opportunities Fund IV Analysis

document_subtype: financial analysis

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


document_description: The document discusses the state of the secondary market for private equity, highlighting a balanced supply and demand with significant dry powder available. It includes data on dry powder and deal volume, emphasizing Glendower Capital's disciplined investment approach and the diverse seller composition in the market.

key_organizations:
Glendower Capital
Greenhill
Aspen Grove Capital, LLC


document_description: The document provides a breakdown of seller composition and market trends for Glendower Capital Secondary Opportunities Fund IV, LP. It includes data on seller types, funds marketed by vintage, and private equity assets by fund vintage year. The emergence of tail-end sales and motivations for traditional secondary buyers and funds-of-funds entering the market as sellers are discussed.

title: Glendower Capital Secondary Opportunities Fund IV, LP - Seller Composition and Market Trends


document_description: The document discusses the growth and prominence of GP-led Secondaries, highlighting the volume and percentage of GP-led Secondaries from 2006 to 2017. It also outlines factors driving the trend for general partners to organize liquidity solutions for investors.

key_organizations:
Glendower Capital
Aspen Grove Capital LLC
Greenhill Cogent
Evercore


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

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


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

document_date: unknown


document_description: This document is a confidential private placement memorandum related to Aspen Grove Capital, LLC and 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 provides an overview of Glendower Capital's management of the Glendower Capital Secondary Opportunities Fund IV, LP. It details the firm's history, team composition, and investment strategy. The fund is managed by Glendower Capital, an independent investment firm that spun out from Deutsche Asset Management in 2017. The document outlines the roles of key team members and the investment committee, as well as the firm's operational processes and office locations.

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

key_locations:
London
New York
UK

key_organizations:
Glendower Capital
Deutsche Asset Management
FCA


document_description: The document provides information about the management and key personnel of Glendower Capital Secondary Opportunities Fund IV, LP. It includes details about the Investment Committee members and their professional backgrounds.

key_people:
Carlo PlaJo-Biroll
Charles Smith
Adam Graev
Chi Cheung
Emilio Olmos
Deirdre Davies

key_locations:
London
New York
Southern Europe
Middle East
Asia

key_organizations:
Glendower Capital
Deutsche Bank
Pomona Capital
Lehman Brothers Private Equity
The Chatterjee Group
Soros Fund Management
ADIA
UBS
Credit Suisse
Lafarge


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

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

key_locations:
New York
Milan
South Africa
London

key_organizations:
Glendower Capital
Deutsche Asset Management
KPMG
Paul Capital
Forum Capital
CIBC Oppenheimer
Gallo & Co.
Deutsche Bank
Brookfield Office Properties
Trizec Properties
HSBC
Goldman Sachs
UBS Investment Bank


document_description: This document provides information about the management team of Glendower Capital Secondary Opportunities Fund IV, LP, including details about key personnel and their backgrounds. It also mentions future recruitment plans for the investment team.

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

key_locations:
London
New York

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


document_description: This document is a summary of terms and conditions for Glendower Capital Secondary Opportunities Fund IV, LP, provided by Aspen Grove Capital, LLC.

title: Summary of Terms and Conditions


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

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

key_people:
General Partner
Limited Partners
Manager
Glendower U.S.

document_subtype: Summary of Terms and Conditions


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP, including details on the investment period, reinvestment policies, key person events, and diversification rules.

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

key_people:
Charles Smith
Carlo Pirzioaroli
Adam Graev
Chi Cheung


document_description: This document outlines the investment restrictions, indebtedness policies, hedging strategies, and profit sharing arrangements for the Glendower Capital Secondary Opportunities Fund IV. LP. It specifies limits on investment in single funds, blind pool investment funds, and real estate investments. It also details borrowing strategies for investment facilitation and expense funding, as well as hedging techniques for currency, interest rate, and equity market risks. The document further describes the allocation of profit shares to General Partners and the conditions for such allocations.

key_people:
General Partner
Second GP


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP, including details on the General Partner's Share, Applicable Points, Legacy Investors, and distribution of net proceeds. It specifies the fee structure, distribution priorities, and conditions for Legacy Investors and Feeder Fund investors.

key_people:
General Partner
Special Limited Partner


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on fund dissolution, special limited partner clawback, organizational expenses, operating and other expenses, transaction and break-up fees, and the establishment of a fund advisory committee.


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


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

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

document_subtype: Risk Factors


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


document_description: The document outlines various risk factors associated with secondary investments in real estate and real estate-related assets. It highlights risks such as economic changes, financial conditions of tenants, changes in financing terms, and environmental regulations. It also discusses the multiple levels of expenses, contingent liabilities, independent investment strategies of underlying funds, and lack of direct interest for investors.

key_organizations: Glendower Capital Secondary Opportunities Fund IV, LP


document_description: The document outlines risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the limited ability to negotiate secondary transaction terms, potential for investments to extend beyond the fund's term, and the illiquid nature of investments. It also discusses restrictions on transfer and withdrawal, performance risks, and the need for investors to be sophisticated and financially resilient.


document_description: The document outlines various risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the unpredictability of future returns, the potential impact of poor performance by some investments, the exclusive bearing of losses by the Fund and its partners, and the additional risks posed by leverage. It also discusses the use of subscription line facilities for interim financing and the potential effects on investor returns. The document emphasizes that past performance data may not reflect current conditions and that the information provided is not guaranteed for accuracy or completeness.

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


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

key_people:
Manager
Key Persons


document_description: The document outlines various risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP, including valuation risk, absence of Investment Company Act protection, tax risks, and the impact of Base Erosion and Profit Shifting (BEPS) initiatives. It highlights the reliance on the Manager for investment valuations, potential tax implications in different jurisdictions, and the effects of international tax reforms on investor returns.

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


document_description: This section outlines various tax-related risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses potential tax implications for investors, changes in tax law, tax treatment, phantom income, risks from changes in the taxation of carried interest, and the corporate offense of failure to prevent the facilitation of tax evasion.

title: Section 7: Risk Factors


document_description: This document outlines various risk factors associated with the Glendower Capital Secondary Opportunities Fund W. LP, including tax evasion risks, co-investment risks, dilution from subsequent closings, and indemnification clauses. It discusses the potential legal and financial implications of these risks on the Fund and its investors.

title: Risk Factors for Glendower Capital Secondary Opportunities Fund W. LP


document_description: This document outlines the risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the potential lower returns from short-term investments, the uncertainties related to follow-on investments, risks upon disposition of investments, recourse to all assets, the discretion of the Manager over defaulting investors, and the challenges of expedited transactions. The document highlights the potential liabilities and obligations that investors may face.

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


document_description: This document outlines the risk factors associated with investments in the Glendower Capital Secondary Opportunities Fund IV, LP, particularly focusing on emerging markets risk, legal counsel arrangements, diverse investor interests, and sovereign status of certain investors. It highlights the potential political, regulatory, and economic risks in emerging markets, the role of Debevoise & Plimpton LLP as special counsel, the potential for conflicting investor interests, and the challenges in enforcing contractual obligations with sovereign investors.

key_locations:
United States
United Kingdom


document_description: This document outlines the risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the potential for side letters that may offer certain investors more favorable terms, general market risks, economic conditions affecting the fund, and the impact of interest rates, inflation, and deflation on the fund's investments.

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


document_description: This section outlines various risk factors associated with investments in the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the impact of deflation, currency risks, the status of debt markets, and legal, tax, and regulatory risks. The document highlights potential challenges such as reduced returns due to deflation, currency exchange rate fluctuations, disruptions in debt markets affecting financing and exit opportunities, and evolving legal and regulatory environments that could impact the fund's strategy and investment value.


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

key_locations:
UK
European Union


document_description: The document outlines risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP, including risks related to electronic communications, cybersecurity threats, pay-to-play laws, and forward-looking information. It highlights potential vulnerabilities in electronic systems and the implications of non-compliance with regulations.

key_organizations:
Glendower Capital
Aspen Grove Capital, LLC
Credit Suisse Asset Management Limited


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


document_description: This document is a section from a Confidential Private Placement Memorandum discussing conflicts of interest related to Glendower Capital Secondary Opportunities Fund IV, LP and Aspen Grove Capital, LLC.

title: Conflicts of Interest


document_description: The document discusses potential conflicts of interest related to the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines situations where the Manager and its affiliates may encounter conflicts in connection with the Fund's investment activities. Investors are required to acknowledge these conflicts and waive claims related to them. The document also covers conflicts among investors, broken deal expenses, investment by management team members, and the impact of Carried Interest on investment decisions.

title: Conflicts of Interest

key_people:
Manager
General Partner
Fund Advisory Committee


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

title: Conflicts of Interest


document_description: This document is a section of a confidential private placement memorandum discussing legal, ERISA, and tax considerations for Aspen Grove Capital, LLC and Glendovmr Capital Secondary Opportunities Fund III, LP.

title: Certain Legal, ERISA and Tax Considerations


document_description: This document is a section from the Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It outlines legal, ERISA, and tax considerations, including valuation methods, fair treatment of investors, liquidity management, and professional liability risk. The fund is governed by English law and is registered under the Limited Partnerships Act 1907.


document_description: This document outlines the legal, ERISA, and tax considerations for investors in the Glendower Capital Secondary Opportunities Fund IV, LP. It details the governance of the Fund Partnership Agreement under English law, the jurisdiction of English courts, and the conditions for recognizing foreign judgments. It also covers collateral and asset reuse arrangements, leverage limits under the AIFMD, and periodic disclosure requirements to Limited Partners.

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

key_locations: England Wales


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


document_description: This document outlines certain legal, ERISA, and tax considerations for investors in the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the 25% Test for Benefit Plan Investors, Form 5500 reporting requirements, and U.S. federal income tax considerations for the fund, including partnership treatment and new partnership audit rules.


document_description: This document is a section from a legal memorandum related to Glendower Capital Secondary Opportunities Fund IV, LP. It discusses ERISA and tax considerations for investors, including organizational expenses, qualified business income deductions, and tax implications for ERISA plans, tax-exempt limited partners, and non-U.S. investors. The document outlines potential tax liabilities such as unrelated business taxable income (UBTI) and effectively connected income (ECI) for different types of investors.


document_description: This document outlines the tax considerations for non-U.S. investors in the Glendower Capital Secondary Opportunities Fund IV, LP, particularly focusing on the treatment of effectively connected income (ECI) and the implications of investing in U.S. real property holding corporations. It discusses the tax rates applicable to non-U.S. investors, potential withholding taxes, and the branch profits tax. The document also highlights certain reporting requirements for U.S. investors, including forms 8865, 926, and 8938, and the potential for transactions to be classified as reportable under U.S. federal tax rules.

document_subtype: Tax Considerations

reference_numbers:
Form 8865
Form 926
Form 8938


document_description: This document outlines the tax considerations for UK resident investors in the Glendower Capital Secondary Opportunities Fund IV, LP. It details the tax implications on income and capital gains for investors, including the requirement for a unique taxpayer reference (UTR) and potential tax credits for foreign tax paid. It also discusses the treatment of income and capital gains under UK tax law, including the impact of the Taxation (International and Other Provisions) Act 2010 and the Offshore Funds (Tax) Regulations 2009.

document_subtype: tax considerations

key_organizations:
Glendower Capital
HM Revenue & Customs


document_description: This document outlines the ERISA and tax considerations for investors in the Glendower Capital Secondary Opportunities Fund IV, LP, particularly focusing on UK tax implications for different types of investors, including UK resident individuals, companies, pension funds, and non-UK residents. It also discusses the potential inheritance tax implications for limited partnership interests in the UK.


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

key_locations:
United Kingdom
United States


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


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

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

key_organizations:
Aspen Grove Capital, LLC
Glendower Capital


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

key_locations: Denmark Finland Germany


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

key_locations:
The Netherlands
Sweden
United Kingdom
Australia
Bahrain

key_organizations:
Aspen Grove Capital, LLC
Glendower Capital
Finansinspektionen
FCA
Central Bank of Bahrain


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

key_locations:
Brazil
Brunei Darussalam
Canada
Cayman Islands
Chile
China
Colombia

key_organizations: Securities and Insurance Supervisory Authority of Chile

reference_numbers:
National Instrument 45-106
Securities Act (Ontario)
National Instrument 31-103


document_description: This document is a confidential private placement memorandum for the acquisition of interests in Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal restrictions and conditions for the sale and transfer of interests in various jurisdictions including Japan, Kuwait, and Mexico. The memorandum specifies that the interests are considered securities under the Financial Instruments and Exchange Law (FIEL) and details the exemptions and conditions under which they can be sold. It also highlights the risks involved in the investment and the confidentiality requirements of the memorandum.

title: Confidential Private Placement Memorandum

key_locations: Japan Kuwait Mexico

key_organizations: Credit Suisse Securities (Japan) Limited

key_organizations: Type II Financial Instruments Firms Association

key_organizations: Mexican Banking and Securities Commission


document_description: This document is a Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal considerations and restrictions for offering and selling interests in various jurisdictions including Mexico, Monaco, New Zealand, and Oman. The document specifies that the interests must be offered in compliance with local laws and regulations, and highlights that the memorandum is confidential and not intended to constitute legal or professional advice.

key_locations:
Mexico
Monaco
New Zealand
Oman

reference_numbers:
Royal Decree 4174
Royal Decree 80/98
Decision No. 1/2UU9
Article 139 (f)


document_description: This document is a Confidential Private Placement Memorandum for Aspen Grove Capital, LLC and Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal and regulatory considerations for offering securities in various jurisdictions including Peru, Qatar, Saudi Arabia, Singapore, and South Korea. The memorandum specifies that the interests have not been registered in these jurisdictions and are offered to institutional investors only. It also highlights the limitations and liabilities associated with the distribution of the memorandum in these regions.

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

key_organizations: Qatar Financial Centre Regulatory Authority


document_description: This document is a Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, outlining the legal and regulatory considerations for offering investment interests in various jurisdictions including Korea, St. Kitts and Nevis, and Switzerland. It details the restrictions and requirements for offering and selling the interests in these regions, including compliance with local laws and regulations, and the roles of representatives and paying agents in Switzerland.

key_locations:
Korea
St. Kitts and Nevis
Switzerland
Geneva

key_organizations: Securities Commission of St. Kitts and Nevis

key_organizations: Financial Services Regulatory Commission of St. Kitts and Nevis

key_organizations: Swiss Financial Market Supervisory Authority (FINMA)


document_description: This document is a Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, detailing the terms and conditions for investors, including rebate policies for Limited Partners, and legal disclaimers for offerings in Taiwan, UAE, and the USA.

key_locations:
Switzerland
Taiwan
United Arab Emirates
United States of America

key_organizations: Central Bank of the United Arab Emirates

key_organizations: UAE Securities and Commodities Authority


document_description: This document is a Confidential Private Placement Memorandum for Aspen Grove Capital, LLC and Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the terms and conditions under which the Interests are offered and sold, including the lack of registration under the Securities Act and the associated risks. The document emphasizes that the Interests are for investment only, with restrictions on transferability and resale, and highlights the absence of protections under the Investment Company Act.


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

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

document_subtype: Privacy Notice


document_description: The document outlines the rights of individuals regarding their personal data, including rectification, erasure, and restriction of processing. It provides contact information for exercising these rights and mentions the role of the UK Information Commissioner's Office (ICO) as a supervisory authority.

key_locations: 16 Berkeley Street, London, W1J 8OZ, United Kingdom

key_organizations: Glendower Capital Secondary Opportunities Fund IV LP


document_description: The document outlines the anti-money laundering and economic sanction compliance measures for investors in the Glendower Capital Secondary Opportunities Fund IV, LP. It details the responsibilities of the Manager to verify investor identities, sources of funds, and compliance with sanctions. The document also describes the potential actions the Manager may take if suspicions of money laundering or sanctions violations arise.

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


document_description: This document is an appendix containing key definitions related to the Glendower Capital Secondary Opportunities Fund IV, LP. It includes terms and definitions relevant to legal, ERISA, and tax considerations, as well as investment and fund management terms.

title: Appendix 4 Key Definitions

document_subtype: Appendix


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

title: GLDUS130 Aspen Grove Capital, LLC


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

key_locations:
Cayman Islands
England

key_organizations:
Glendower Capital LLP
Aspen Grove Capital LLC


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

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

key_organizations:
Aspen Grove Capital LLC
Glendower Capital
IRS
OECD


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

key_locations:
Cayman Islands
Scotland
England

key_organizations:
Aspen Grove Capital, LLC
Glendower Capital
DB Secondary Opportunities Fund
Deutsche Asset Management


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details about subsequent closings, investment terms, and legal considerations related to the fund.

key_organizations:
Aspen Grove Capital, LLC
Glendower Capital
Glendower Capital (U.S.), LLC


document_description: The document provides performance information for the Glendower Capital Secondary Opportunities Fund IV, LP, including metrics such as Distributions to Paid-in Capital (DPI), Gross and Net Internal Rate of Return (IRR), and Total Value to Paid-in Capital (TVPI). It explains the calculation methods for these metrics, the effects of leverage on IRR, and includes a benchmark analysis against other private equity funds.

title: Appendix 5 Important Performance Information

key_organizations:
Aspen Grove Capital, LLC
Glendower Capital


document_description: The document is a Confidential Private Placement Memorandum prepared by Deutsche Alternative Asset Management (Global) Limited for the SOF Funds. It provides performance information about the SOF Funds and related transactions managed by the investment team while at Deutsche Bank. The document includes disclaimers about the accuracy and comparability of performance data, the impact of various factors on projected returns, and the limitations of forward-looking statements.

key_organizations: Glendower Capital Secondary Opportunities Fund IV, LP


document_description: This document is an appendix directory for the Glendower Capital Secondary Opportunities Fund IV, LP, detailing key entities involved in the fund's management and operations.

title: Glendower Capital Secondary Opportunities Fund IV, LP Directory

key_organizations:
Glendower Capital, LLP
Debevoise & Plimpton LLP
PricewaterhouseCoopers LLP
Deloitte Touche Tohmatsu
KPMG
Ernst & Young LLP
Aztec Financial Services (UK) Limited
Gen II Fund Services LLC
Credit Suisse Asset Management Limited
Raymond James & Associates, Inc.
Raymond James Financial Services, Inc.


document_description: The document proposes the board of directors for the General Partner of Glendower Capital Secondary Opportunities Fund IV, LP. It lists four individuals: Alan Turner, Andrew Johnson, Kirsten Le Pape, and Vanessa Barrett, detailing their professional backgrounds and qualifications.

key_people:
Alan Turner
Andrew Johnson
Kirsten Le Pape
Vanessa Barrett

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

document_subtype: Board of Directors Proposal

key_organizations:
Aspen Grove Capital, LLC
Glendower Capital
Circumference FS (Cayman) Ltd.
YMCA of the Cayman Islands
Cayman Finance
UBS Global Asset Management
Ernst & Young


document_description: This document is a confidential private placement memorandum related to Glendower Capital Secondary Opportunities Fund IV, LP. It includes contact information for key individuals at Glendower Capital and Credit Suisse Asset Management.

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

key_locations:
United States
Europe
MENA
Asia Pacific

key_organizations:
Glendower Capital
Credit Suisse Asset Management


document_description: The document describes the composition of a visual artwork or design associated with Aspen Grove Capital, LLC. It features three adjacent triangular regions on a rectangular canvas, with specific color and orientation details. The document is marked as confidential under Federal Rule of Criminal Procedure 6(e).


document_description: This document outlines the servicing fees and compensation arrangements related to DB Introduced Persons and the Access Fund managed by Aspen Grove Capital, LLC. It details the fee structure based on subscription amounts and the potential conflict of interest due to financial incentives for the Solicitation Agent.

document_subtype: Disclosure Statement

key_organizations:
Aspen Grove Capital, LLC
Glendower GP
Glendower Capital, LLC
iCapital


document_description: The document contains confidential information related to Aspen Grove Capital, LLC, marked as confidential pursuant to Federal Rule of Criminal Procedure 6(e).


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

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

document_subtype: Investment Instructions


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

key_people:
Investor
General Partner

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

document_subtype: Limited Partner Subscription Agreement

key_organizations: Glendower Access Secondary Opportunities IV GP LLC


document_description: This document outlines the terms and conditions of an investment agreement between Aspen Grove Capital, LLC and its investors. It details the discretion of the General Partner in committing funds, the representations and warranties of the investor, and the restrictions on transfer of interests. The investor acknowledges understanding the offering materials and the risks involved, and agrees to bear the economic risk of the investment.

document_subtype: Investment Agreement


document_description: This document outlines the terms and conditions under which an investor is purchasing an interest in Aspen Grove Capital, LLC. It specifies that the interest has not been registered outside the U.S., and the investor is responsible for compliance with applicable laws. The investor is purchasing for investment purposes only and acknowledges restrictions on resale and transfer. The document also confirms the investor's status as an accredited investor and U.S. tax person, with obligations to notify the partnership if this status changes.


document_description: This document outlines the representations, warranties, and acknowledgments made by an investor in relation to an investment partnership. It includes details about the investor's qualified purchaser status, conflicts of interest, and additional risk factors associated with the investment.


document_description: The document outlines the terms and conditions of an agreement between an investor and Aspen Grove Capital, LLC. It includes clauses on the enforceability of the agreement, the investor's knowledge and experience, tax considerations, and the investor's status concerning U.S. Treasury Regulations. The investor acknowledges the survival of the agreement despite changes in circumstances and confirms obtaining necessary consents and approvals.

document_subtype: Partnership Agreement


document_description: The document outlines the legal and tax considerations for Aspen Grove Capital, LLC as a partner in a partnership. It specifies conditions under which the Sole Owner can transfer interests, confirms no borrowing for contributions, and clarifies that Cleary Gottlieb and Maples and Calder represent the partnership and not individual investors. It also includes a privacy notice under Regulation P.

key_people:
Cleary Gottlieb Steen & Hamilton LLP
Maples and Calder

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


document_description: This document outlines the terms and conditions for an investor's purchase of an interest in Aspen Grove Capital, LLC. It includes clauses on nominees and custodians, the final form of the agreement, restrictions on general solicitation, and compliance with sanctions and anti-money laundering laws.

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

key_organizations: Her Majesty's Treasury of the United Kingdom


document_description: The document outlines restrictions and conditions for investors in Aspen Grove Capital, LLC, ensuring compliance with U.S. and UK sanctions and anti-money laundering regulations. It specifies that investors must not be on prohibited lists, from non-cooperative jurisdictions, senior foreign political figures, or foreign shell banks. It also ensures that investments are not derived from prohibited sources.

document_subtype: legal agreement

key_organizations:
Aspen Grove Capital, LLC
U.S. Treasury Department
Financial Action Task Force


document_description: The document outlines the legal obligations and representations of an investor in Aspen Grove Capital, LLC, ensuring compliance with anti-money laundering laws and sanctions. It specifies that the investor's funds must not be derived from illegal activities and that the investor must have procedures to verify the identity of beneficial owners. The investor must inform the General Partner of any inaccuracies in their representations and provide additional information if required.

key_locations:
United States
UK

document_subtype: Subscription Agreement


document_description: The document outlines the terms and conditions for an investor in Aspen Grove Capital, LLC, specifically regarding their non-involvement and lack of recourse in the Underlying Fund managed by Glendower Capital Secondary Opportunities IV, LP. It includes representations for Plan Investors under ERISA and the Internal Revenue Code.


document_description: The document outlines the terms of a Partnership Agreement involving Aspen Grove Capital, LLC. It specifies the compliance of the agreement with the Investor's governing instruments and applicable laws. The General Partner has the discretion to make investment decisions, and neither the General Partner nor iCapital Securities, LLC is providing investment advice. The Investor Fiduciary is responsible for independent judgment regarding investment decisions. The document emphasizes the Investor's understanding of the Partnership's objectives, risks, and conflicts of interest, and the capability to evaluate investment risks independently.

key_people:
General Partner
Investor Fiduciary

key_organizations:
Aspen Grove Capital, LLC
iCapital Securities, LLC


document_description: This document outlines the terms and conditions of an investment management agreement involving Aspen Grove Capital, LLC. It includes details about the responsibilities and acknowledgments of the Investor and the Investor Fiduciary, the risks and fees associated with the investment, and the legal compliance required for the execution of the agreement.

document_subtype: Investment Management Agreement

key_organizations:
Aspen Grove Capital, LLC
iCapital


document_description: This document outlines the fiduciary responsibilities and conditions under which an Investor Fiduciary can make a proposed purchase of an Interest in a partnership. It specifies the independence of the Investor Fiduciary from iCapital and its affiliates, the discretionary authority of the Investor Fiduciary, and compliance with ERISA and the Code. It also addresses the identification of plan assets, diversification requirements, and prohibited transaction exemptions.

document_subtype: investment agreement


document_description: This document outlines the terms and conditions for investors acquiring interests in Aspen Grove Capital, LLC. It includes provisions for re-registration of interests, representations and covenants for investors using insurance company assets, and conditions for non-U.S. employee benefit plans. The document emphasizes compliance with ERISA and other regulatory requirements.


document_description: This document outlines the terms and conditions for the closing and capital contributions related to the sale and purchase of interests in Aspen Grove Capital, LLC. It includes agreements with other limited partners, representations and warranties of the partnership and the general partner, and details on governmental and regulatory approvals.


document_description: This document is a subscription agreement for Aspen Grove Capital, LLC, detailing the investment company act status, power of attorney, expenses, amendments, and conditions for subscription reduction or rejection. It outlines the roles of the General Partner and Investment Manager, and the irrevocable power of attorney granted to them by the investor.

key_people: Glendower Access Secondary Opportunities IV GP LLC


document_description: This document is a fee acknowledgement form for Aspen Grove Capital, LLC, where the investor acknowledges receipt and review of the Supplement to the Private Placement Memorandum. It includes details about the upfront placement fee and the investor's agreement to the terms of the partnership.

title: Fee Acknowledgement for Aspen Grove Capital, LLC

document_subtype: Fee Acknowledgement


document_description: Document related to Aspen Grove Capital, LLC with confidential markings and reference numbers.


document_description: This document is an investment form for Aspen Grove Capital, LLC, requiring prospective investors to complete information based on their status as individuals or entities. It includes sections for U.S. person status, personal or entity details, and contact information.

document_subtype: investment form


document_description: A document related to Aspen Grove Capital, LLC with sections on employment status, employer, occupation, tax year end, and FOIA Partner status. The document is marked as proprietary and confidential.

document_subtype: confidential document


document_description: Wire instructions for initial capital contribution and distributions for Aspen Grove Capital, LLC. The document outlines the process for providing wire instructions for the bank account related to the investment, including details for both U.S. and non-U.S. banks. It also requests information on the source of funds being invested.

document_subtype: wire instructions


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

document_subtype: investment communication

key_organizations:
Aspen Grove Capital, LLC
iCapital Network


document_description: This document is an investor status representation form for individuals associated with Aspen Grove Capital, LLC. It requires the investor to declare their net worth, income for the years 2016 and 2017, and the value of their investments. The form is proprietary and confidential.

title: Investor Status Representation

document_subtype: Investor Status Form


document_description: This document is an investment questionnaire for Aspen Grove Capital, LLC, asking investors to disclose if they are investing assets from retirement or employee benefit plans subject to Section 4975 of the Internal Revenue Code. It also inquires about compliance with ERISA and other similar laws.

document_subtype: investment questionnaire


document_description: This document is an exhibit for Aspen Grove Capital, LLC, detailing the criteria for entities to qualify as accredited investors. It includes various categories under which an entity can qualify, such as corporations, partnerships, trusts, banks, insurance companies, broker-dealers, investment companies, and others, with specific references to sections of the Securities Act and other relevant legislation.

title: Exhibit C - Accredited Investor Status for Entities

document_subtype: Accredited Investor Status Form


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

document_subtype: investment document


document_description: This document is an exhibit related to investment company act representations for entities such as partnerships, trusts, and corporations. It outlines the criteria for an investor to be considered a 'qualified purchaser' under the Investment Company Act, including ownership of investments worth not less than $5,000,000 and other specific conditions.

title: Exhibit D - Investment Company Act Representations

document_subtype: Investment Company Act Representations


document_description: The document is an investment questionnaire for Aspen Grove Capital, LLC, assessing the investor's status and compliance with the Investment Company Act. It includes questions about the investor's structure, ownership, and purpose of formation.


document_description: This document is an investment questionnaire for Aspen Grove Capital, LLC. It includes questions about the investor's commitment of assets, ultimate beneficiaries, and whether the investor or beneficiaries are publicly traded or regulated entities. A chart is provided for additional information if any of the questions are answered affirmatively.


document_description: This document is an investment agreement for Aspen Grove Capital, LLC, detailing conditions for Plan Investors, particularly those organized outside the United States. It includes representations and warranties required from investors who answer 'Yes' to specific questions regarding employee benefit plans.


document_description: This document is a privacy notice from Institutional Capital Network, Inc. and its affiliates, iCapital Advisors, LLC and iCapital Securities, LLC, regarding the privacy of financial information. It outlines the types of nonpublic personal information collected from investors and the circumstances under which this information may be disclosed to third parties, in compliance with Regulation P by the Consumer Financial Protection Bureau.

document_subtype: Privacy Notice

key_organizations:
Institutional Capital Network, Inc.
iCapital Advisors, LLC
iCapital Securities, LLC
Consumer Financial Protection Bureau


document_description: The document is an offering for the Glendower Capital Secondary Opportunities Fund IV, LP, a private equity secondary fund. It outlines the fund's strategy, performance metrics, and key terms. The fund aims to raise US$1.75 billion and has a strong track record with a mature program at 1.7x TVPI and >20% Net IRR. The document is intended for accredited investors and qualified purchasers only.

title: Glendower Capital Secondary Opportunities Fund IV, LP Offering

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

key_locations:
London
New York

document_subtype: Investment Offering

key_organizations:
Glendower Capital
Deutsche Asset Management


document_description: The document outlines Glendower Capital's investment strategy, focusing on Fund Secondaries, GP-led Secondaries, and Single Asset Deals, primarily in the US and Europe. It details the firm's opportunistic barbell approach to portfolio construction, emphasizing discounted fund secondaries during market corrections and less competitive GP-led secondaries during normalized conditions. The document also highlights the team's experience and the firm's focus on efficient portfolio construction without leverage and with currency hedging.

title: Glendower Capital SOF IV, LP Investment Strategy

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

document_subtype: investment strategy document

key_organizations:
Glendower Capital
Deutsche Bank
Pomona
Lehman Brothers
Chatterjee/Soros
Cowen
ABN Amro
KPMG
Paul Capital
Forum Capital
CIBC Oppenheimer
ADIA
UBS
Credit Suisse
Gallo & Co.


document_description: This confidential presentation by Glendower Capital, LLP provides summary information about existing and future funds managed or advised by Glendower, including the Glendower Capital Secondary Opportunities Fund IV, LP. It is intended for sophisticated recipients for evaluation purposes and is not an offer or solicitation for investment. The presentation includes disclaimers about the accuracy of information, potential risks, and the need for recipients to consult their own advisors. It also addresses potential conflicts of interest with Credit Suisse Asset Management Limited.

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

document_subtype: confidential presentation


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

title: Supplemental Disclosure by Deutsche Bank

document_subtype: disclosure

key_organizations:
Deutsche Bank Securities Inc.
Deutsche Bank Trust Company Americas
Aspen Grove Capital, LLC


document_description: This document is a 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_subtype: investment overview


document_description: This document outlines the risks associated with investing in a private equity fund, 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 manager transparency.

title: Additional Disclosures Regarding Certain Risk Factors

key_organizations:
Aspen Grove Capital LLC
Securities and Exchange Commission
iCapital Network


document_description: This document provides a summary of key terms for the Glendower Access Secondary Opportunities IV (U.S.), LP, including details on fund structure, strategy, minimum commitment, target size, fund term, capital calls, investment period, administrator, legal counsel, reporting, placement fee, management fee, and carried interest.

title: Summary of Key Terms for Glendower Access Secondary Opportunities IV (U.S.), LP

key_people:
Glendower Capital SOF IV (GP) Limited
iCapital Advisors, LLC
Debevoise & Plimpton LLP
Cleary Gottlieb Steen & Hamilton LLP

document_subtype: Summary of Key Terms

key_organizations:
Glendower Capital
iCapital Advisors
Aspen Grove Capital, LLC


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 subscriptions. DBSI's role as placement agent and fee recipient is also highlighted.

title: Summary of Key Terms for Aspen Grove Capital, LLC

document_subtype: Investment Summary

key_organizations:
Aspen Grove Capital, LLC
DBSI
iCapital Advisors
Glendower Capital, LLP


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

key_organizations:
Glendower Capital
Aspen Grove Capital, LLC


document_description: This confidential presentation is provided by Glendower Capital, LLP to a limited number of sophisticated persons for the purpose of evaluating a potential investment in the Glendower Capital Secondary Opportunities Fund IV, LP. It includes information about existing and future funds managed by Glendower. The presentation is strictly confidential and not intended to form the basis of any investment decision. It is not an offer or solicitation to purchase interests in the fund.

title: Glendower Capital Secondary Opportunities Fund IV, LP Presentation

key_organizations: United Kingdom Financial Conduct Authority