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

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


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 articles on default, distributions, capital accounts, duration of the partnership, liquidation of assets, and limitations on transfers and withdrawals.

title: Amended and Restated Limited Partnership Agreement

document_type: tabular

document_subtype: Limited Partnership Agreement


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes articles on exculpation and indemnification, amendments, voting and consents, and administrative provisions such as keeping of accounts, financial reports, valuation, notices, accounting provisions, and tax provisions.


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


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

key_people:
General Partner
Initial Limited Partner

document_type: legal

document_subtype: Amended and Restated Limited Partnership Agreement

key_organizations: Glendower Access Secondary Opportunities IV GP LLC


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

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


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the rights and obligations of Limited Partners, including the effects of death, dissolution, or bankruptcy, and the conditions under which additional Limited Partners can be admitted before the final closing date. It specifies that Limited Partners have no control over the partnership's affairs and details the financial contributions required from new or increasing Limited Partners.


document_description: This document outlines the terms and conditions for additional limited partners joining the Glendower Access Secondary Opportunities IV (U.S.), L.P. It details the financial contributions required from new partners, including management fees and interest-equivalent amounts, and the adjustments to be made to existing partners' accounts. The agreement also covers the accession process for new partners.


document_description: The document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions for the admission of new partners, anti-money laundering compliance, and the responsibilities of limited partners to ensure compliance with U.S. laws. The agreement outlines the actions the General Partner may take in case of non-compliance, including freezing or transferring a partner's interest.


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


document_description: This document outlines the powers and responsibilities of the General Partner in managing the Partnership, including making elections under tax laws, executing agreements, and disclosing nonpublic information. It also clarifies that the General Partner and its affiliates can engage in other business ventures independently of the Partnership.

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


document_description: The document outlines the terms under which the General Partner can utilize alternative investment vehicles for legal, tax, regulatory, accounting, or other reasons. It specifies the conditions under which Limited Partners may be required to make capital contributions to these vehicles and ensures that economic provisions are consistent with the main partnership agreement.


document_description: This document outlines the terms and conditions of the Georgetown University Endowment's involvement in Alternative Investment Vehicles. It covers allocations, distributions, management fees, and the responsibilities of Limited Partners, including default scenarios. The document emphasizes the separate entity status of the Partnership and Alternative Investment Vehicles for tax purposes and allows for the creation of Investment Subsidiaries for legal or strategic reasons.

key_organizations:
Georgetown University Endowment
Alternative Investment Vehicle
Partnership
Investment Subsidiary


document_description: The document outlines the terms of the partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions for partnership expenses, parallel access funds, investment guidelines, borrowings, and ERISA compliance. The General Partner has the authority to form parallel access funds or feeder funds to address legal, tax, or regulatory issues. The partnership may invest in temporary investments when funds are not allocated to the Underlying Fund. A credit facility may be established, secured by the subscriptions of limited partners. The General Partner aims to ensure compliance with ERISA regulations to avoid fiduciary responsibilities and prohibited transactions.


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


document_description: The document outlines the expenses and financial responsibilities of Limited Partners in the Georgetown University Endowment, specifically within the Glendower Access Secondary Opportunities IV (U.S.), L.P. It details the allocation of Partnership Expenses, including travel, research, insurance, and legal fees, among others. The document also discusses the sharing of expenses with Parallel Access Funds and the pro rata distribution of expenses among Limited Partners.


document_description: This document outlines the financial terms and conditions related to the management fees and tax responsibilities for Limited Partners in the Georgetown University Endowment. It specifies how management fees are calculated based on the subscription amounts and investment periods, and how tax-related costs are allocated to Limited Partners.

document_type: financial


document_description: This document outlines the terms and conditions of the Georgetown University Endowment's investment in Glendower Access Secondary Opportunities IV (U.S.), L.P. It details the management fee structure, timing of payments, and capital contribution obligations of the partners. The management fee is calculated based on LIBOR plus 2% or 8%, whichever is higher, and is payable quarterly in advance. Capital contributions are required from each partner based on their subscription and percentage interest, with specific provisions for initial contributions and drawdowns.

key_people:
General Partner
Investment Manager


document_description: This document outlines the terms and conditions for capital contributions to the Georgetown University Endowment partnership. It includes provisions for additional contributions, deficiency drawdowns, procedures for capital call notices, offsets against distributions, and the authority of the General Partner to reduce subscriptions. It also covers the return of unused contributions.

title: Georgetown University Endowment - Limited Partnership Agreement

key_people:
General Partner
Limited Partner

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


document_description: This document outlines the terms and conditions related to capital contributions, returns, and adjustments for partners in the Glendower Accts Secondary Opportunities IV (U.S.), L.P. It includes provisions for the return of contributions upon the admission of additional partners, the effect of such returns, and the consequences of failing to make required payments.

document_subtype: Partnership Agreement


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


document_description: This document outlines the terms and conditions related to the handling of a Defaulting Partner within the partnership. It specifies the rights and remedies available to the General Partner, including the ability to limit or eliminate the Defaulting Partner's voting rights, terminate their interest, and reallocate their share among non-Defaulting Partners. It also details the financial obligations of Defaulting Partners and the cumulative nature of the remedies available to the General Partner.

key_people:
General Partner
Defaulting Partner


document_description: The document outlines the provisions related to bifurcated default and assignment of partner contributions in the partnership agreement. It details the procedures and consequences if the partnership fails to meet capital call amounts due to defaulting investors, and the rights of the general partner to assign unpaid subscriptions as security for indebtedness.

key_people:
General Partner
Limited Partners
Defaulting Access Fund Investor


document_description: This document outlines the terms of the partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P., including security interests, distribution of proceeds, and discretionary distributions among partners. It specifies the rights and obligations of limited partners and the general partner, particularly in terms of financial contributions, security interests, and distribution of investment proceeds.


document_description: This document outlines the operational rules, special distributions, and tax payment obligations for the Georgetown University Endowment under the Glendower Access Secondary Opportunities IV (U.S.), L.P. It specifies how distributions to partners, including defaulting partners, are to be handled, and details the treatment of tax liabilities incurred by the partnership.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the tax liability responsibilities and indemnification obligations of the partners, as well as the creation and maintenance of capital accounts. It specifies that partners are responsible for their own tax liabilities and must indemnify the partnership for any related claims. The document also prohibits certain distributions that would violate Delaware law.


document_description: This document outlines the allocation of net gain or loss among partners in the partnership, including the timing of allocations, compliance with Treasury Regulations, and the methodology for calculating net gain or loss. It specifies how capital accounts are adjusted and the conditions under which distributions are made to partners.


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


document_description: This document outlines the terms and conditions of the partnership, including its duration, dissolution procedures, and asset liquidation processes. The partnership's term is tied to the dissolution of the Underlying Fund and can be extended by the General Partner. Dissolution can occur upon the withdrawal of the General Partner or by the General Partner's decision. Upon dissolution, assets are to be liquidated in an orderly manner, with the General Partner or a designated liquidator managing the process.

key_people:
General Partner
Limited Partners


document_description: This document outlines the terms for the liquidation of the partnership, including distribution of assets, expenses of the liquidator, duration of liquidation, and liability for returns. It also details limitations on transfers and withdrawals of limited partnership interests.


document_description: This document outlines the terms and conditions related to the transfer of partnership interests in the Georgetown University Endowment. It specifies the consent required from the General Partner for any transfer, restrictions on public trading, and the necessary representations by parties involved in a transfer.


document_description: This document outlines the conditions and restrictions related to the transfer of interests in a partnership, including compliance with Section 1446(f) of the Code and other legal considerations. It specifies the responsibilities of transferring Limited Partners and transferees, including tax liabilities and compliance with ERISA and other regulations.

key_organizations:
Georgetown University Endowment
Partnership


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


document_description: This document outlines the terms and conditions related to the transfer of interests, withdrawal rights, and removal of limited partners in the partnership. It specifies the conditions under which transfers are considered non-compliant, the handling of multiple ownership, and the circumstances under which a limited partner may be removed.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions on look-through treatment, exculpation, and indemnification of covered persons, including the General Partner and Investment Manager. The document outlines the conditions under which these parties are not liable for losses suffered by the partnership or partners, provided they acted in good faith and without gross negligence or willful misconduct.


document_description: This document outlines the indemnification provisions for Covered Persons and other parties associated with the partnership. It details the conditions under which indemnification is provided, limitations on indemnification, and the advance payment of expenses related to legal actions.


document_description: This document outlines the indemnification rights and insurance provisions for the partnership, including the rights of Indemnitees and the priority of indemnity obligations. It specifies the conditions under which the General Partner may purchase insurance for Indemnitees and the succession of indemnification rights. It also details the priority of indemnity obligations when multiple sources of indemnification are available.


document_description: This document outlines the indemnification and liability limitations for the partnership, including conditions under which indemnification payments may be limited or required to be returned by partners. It also addresses the impact of legal restrictions on indemnification and the return of distributions under certain conditions.


document_description: This document outlines the amendment procedures for the partnership agreement of Glendower Access Secondary Opportunities IV (U.S.), L.P. It specifies the conditions under which the agreement can be amended, including the consent required from partners, particularly in relation to economic rights and ERISA provisions. It also details the notification process for amendments and the concept of negative consent.


document_description: This document outlines the administrative provisions and voting/consent procedures for a limited partnership agreement related to Georgetown University Endowment. It specifies how actions requiring consent are to be taken, the maintenance of accounts and records, and the confidentiality of certain information.


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


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


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glenodwer Access Secondary Opportunities IV (U.S.), L.P. It outlines provisions related to notices, accounting, and tax matters. Notices are to be sent to addresses specified in the List of Partners, with specific timelines for deemed receipt. The fiscal year is defined, and the selection of independent accountants is described. Tax provisions ensure the partnership is treated as a partnership for U.S. federal income tax purposes, with the General Partner responsible for making necessary elections and filings. The document also specifies the role of the Tax Matters Partner for fiscal years ending prior to January 1, 2018.


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


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the obligations of Limited Partners regarding compliance with FATCA and Section 1045 of the Internal Revenue Code. Limited Partners must provide necessary information to comply with FATCA and may face consequences if they fail to do so. The document also specifies that the Partnership is not required to elect Section 1045 rollovers or comply with related tax reporting without the General Partner's consent.


document_description: This document outlines the terms and conditions of the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions related to tax basis adjustments, electing investment partnership status, and tax reporting consistency. Limited Partners are required to comply with specific tax-related obligations and provide necessary information to the General Partner. The document also grants power of attorney to the General Partner for executing necessary legal documents.


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


document_description: This document is an amended and restated limited partnership agreement for Glendower Accts Secondary Opportunities IV (U.S.), L.P. It outlines the binding nature of the agreement on successors, governing law, remedies for breach, waiver of partition rights, securities law matters, and confidentiality obligations of the partners.


document_description: This document outlines the confidentiality obligations of Limited Partners regarding Partnership Information in the Georgetown University Endowment. It specifies the conditions under which Partnership Information can be disclosed and the procedures to follow if disclosure is required by law.

document_type: correspondence

document_subtype: confidential agreement


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines confidentiality obligations and restrictions on the disclosure of Partnership Information, exceptions to these obligations, and the rights of the General Partner to withhold information under certain conditions. It also discusses the construction of the contract, including gender and number references, and the enforceability of provisions.


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the terms and conditions of the partnership, including arbitration procedures, the use of side letters, and bad actor disqualification information. The agreement specifies that any controversies or claims will be settled through binding arbitration in New York City. It also allows the General Partner to enter into side letters with Limited Partners to amend or supplement the agreement. Additionally, it includes provisions for inquiries into whether any Limited Partner is a 'bad actor' under Rule 506(d) of the Securities Act.


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


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

key_people:
Thomas Fortin
Michael Stanton


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

title: Glendower Access Secondary Opportunities W (U.S.), L.P. Definitions


document_description: This document is a proprietary and confidential amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes definitions and terms related to business days, capital accounts, carrying value, the United States Internal Revenue Code, contributions, covered company partners, covered company persons, covered company person ownership percentage, covered persons, credit facilities, and default rates.

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


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes definitions and terms related to the partnership, such as Defaulting Access Fund Investor, Defaulting Partner, Delaware Act, Delayed Payment Interest, ERISA, ERISA Partner, Exempt Entity, FATCA, Feeder Fund, Final Closing Date, Freely Tradable Security, and others. The document is marked as confidential and is subject to federal rules of criminal procedure.

title: Glendower Access Secondary Opportunities IV (U.S.), L.P. 1-3 Amended and Restated Limited Partnership Agreement


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the terms and conditions related to freely tradable securities, the role of the General Partner, and the rights of Limited Partners. It also references the Investment Company Act of 1940 and the role of the Investment Manager, iCapital Advisors, LLC.

key_organizations:
Georgetown University Endowment
iCapital Advisors, LLC


document_description: This document is a proprietary and confidential partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes definitions and terms related to the management agreement, management fee, net gain or loss, nonrecourse liability, and non-voting interest. The document outlines the financial and operational structure of the partnership, including the calculation of profits and losses, and the rights of non-voting interest holders.


document_description: This document outlines various terms and definitions related to the Georgetown University Endowment's involvement with Glendower Access Secondary Opportunities IV, a Cayman Islands exempted limited partnership. It includes definitions for terms such as Offshore Access Fund, Organizational Expenses, Partner Interest, and Partnership Minimum Gain, among others. The document is marked as proprietary and confidential.

title: Georgetown University Endowment - Glendower Access Secondary Opportunities IV

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


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

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


document_description: This document is a section of the 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.

key_locations:
United States
European Union
District of Columbia


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

title: Appendix II: Regulatory and Tax Allocations

document_subtype: Partnership Agreement Appendix


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


document_description: This document is a private placement memorandum for Glendower Access Secondary Opportunities IV (U.S.), L.P., an 'Access Fund' into Glendower Capital Secondary Opportunities Fund IV, LP, offering limited partner interests.

document_date: January 2018

document_subtype: Private Placement Memorandum

key_organizations:
Georgetown University Endowment
Glendower Capital


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

title: GLDUS133 Georgetown University Endowment

key_locations:
Delaware
United States
England

key_organizations: Glendower Capital Secondary Opportunities Fund IV, LP


document_description: This document is an investment memorandum for the Access Fund, highlighting its suitability for sophisticated investors willing to accept high risks and lack of liquidity. It clarifies that purchasers of interests will not have direct involvement or rights in the Underlying Fund managed by Glendower. The memorandum also outlines the legal disclaimers and responsibilities of Glendower and other parties involved.

key_locations: United Kingdom of Great Britain and Northern Ireland

document_subtype: investment memorandum

key_organizations:
Georgetown University Endowment
Glendower Capital, LLP
Glendower Capital (U.S.), LLC


document_description: This document is an investment memorandum related to the Georgetown University Endowment's indirect interests in funds managed by Glendower. It outlines the rights and limitations of the Access Fund, the Underlying Fund, and their respective partners and affiliates. The memorandum includes disclaimers about the historical performance of the funds, forward-looking statements, and the risks involved in investing. It emphasizes that the terms of the Underlying Fund are not finalized and may change.

document_subtype: Investment Memorandum

key_organizations:
Georgetown University Endowment
Glendower
Access Fund
Underlying Fund
General Partner
Investment Manager


document_description: This document is a memorandum for prospective investors in the Georgetown University Endowment Access Fund. It outlines the legal, tax, regulatory, financial, and accounting considerations for investment. 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 and should be reviewed for complete information. The document also addresses U.S. Treasury Regulations compliance and advises investors to seek independent tax advice. Prospective investors are encouraged to meet with fund representatives for further information.

title: Georgetown University Endowment Access Fund Memorandum

key_organizations:
Georgetown University Endowment
Access Fund
Underlying Fund
Glendower


document_description: This document is an investment memorandum for the Georgetown University Endowment, detailing the terms and conditions for subscribing to the Access Fund. It includes confidentiality agreements and legal restrictions on the distribution and sale of interests.

key_organizations:
Georgetown University Endowment
Glendower
Underlying Fund
General Partner
Access Fund
Institutional Capital Network, Inc.


document_description: This document is an investment memorandum for the Georgetown University Endowment'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 details 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:
Georgetown University Endowment
Access Fund
Glendower


document_description: The document outlines the exemption of the General Partner from registration with the U.S. Commodity Futures Trading Commission (CFTC) as a Commodity Pool Operator (CPO) and Commodity Trading Advisor (CTA) for the Access Fund. It details the reliance on CFTC Rule 4.13(a)(3) and 4.14(a)(5) for exemption, the conditions under which the Access Fund operates, and the implications for investors.

document_subtype: exemption notice


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

key_organizations:
Georgetown University Endowment
CFTC
NFA


document_description: This document is a table of contents for the Georgetown University Endowment, detailing sections on introduction, summary of principal terms of the access fund, certain risk factors and potential conflicts of interest, and tax, regulatory, and certain ERISA considerations. It includes an appendix with a confidential private placement memorandum of Glendower Capital Secondary Opportunities Fund IV, LP.

title: Georgetown University Endowment

key_organizations:
Georgetown University
Glendower Capital


document_description: The document is an investment memorandum for Glendower Access Secondary Opportunities IV (U.S.), L.P., a Delaware limited partnership. It outlines the investment strategy of the Access Fund, which is to invest in Glendower Capital Secondary Opportunities Fund IV, LP, an English private fund. The principal investment objective is to generate attractive risk-adjusted returns through a diverse portfolio of investments in the secondary market. The memorandum includes information on risk factors, potential conflicts of interest, and tax implications for U.S. and Non-U.S. investors.

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

key_locations: Delaware England


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

title: Summary of Principal Terms of the Access Fund

document_date: October 2017

document_subtype: Investment Summary


document_description: This document is an investment memorandum for the Access Fund, which is managed by an Investment Manager responsible for the fund's rights in the Underlying Fund, Glendower Capital Secondary Opportunities Fund IV, LP. The memorandum outlines the management fee, investment management agreement, and the purpose of the Access Fund, which is to invest in the Underlying Fund. The Underlying Fund aims to generate returns through various investment strategies in the secondary market. The document also discusses the discretion of the General Partner in managing cash flows and subscriptions.

key_people:
Investment Manager
General Partner


document_description: The document outlines the offering and investment details for the Access Fund, a private placement fund designed for certain U.S. investors, including taxable investors and tax-exempt institutions willing to receive unrelated business taxable income (UBTI). It specifies the minimum subscription amounts for Limited Partners and the Underlying Fund, and highlights tax considerations for U.S. and Non-U.S. investors.

document_subtype: Investment Offering

key_organizations:
Georgetown University Endowment
Access Fund
Underlying Fund
Glendower GP


document_description: The document outlines the terms and conditions for initial and subsequent closings of the Access Fund, including capital contributions, interest rates, and management fees for Limited Partners.

document_subtype: Investment Fund Document

key_organizations:
Georgetown University Endowment
Access Fund
Glendower GP
Underlying Fund
Investment Manager


document_description: The document outlines the investment strategy and terms for the Access Fund's investment in the Underlying Fund, including details on subsequent closings, potential dilution of interests, and the formation of parallel access and feeder funds.


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

document_subtype: investment document


document_description: The document outlines the terms and conditions related to defaults in capital contributions by Limited Partners in the Access Fund, which affects the Underlying Fund. It details the consequences of such defaults, including potential forfeiture of interests and additional capital calls from non-defaulting partners. It also describes the bifurcated default process and the rights and remedies available to the General Partner and the Underlying Fund in case of defaults.

key_people:
General Partner
Investment Manager
Glendower GP

key_organizations:
Access Fund
Underlying Fund
Georgetown University Endowment


document_description: The document outlines the distribution and expense allocation policies for the Georgetown University Endowment's Access Fund. It details how distributions from the Underlying Fund are made to Limited Partners, the handling of capital accounts, and the allocation of organizational and offering expenses. The Access Fund is responsible for various expenses, including management fees, liquidation expenses, and compliance costs related to tax reporting.

document_subtype: Endowment Distribution and Expense Allocation

key_organizations:
Georgetown University
Access Fund
Underlying Fund


document_description: This document outlines the various expenses associated with the Access Fund, including legal, administrative, and investment-related costs. It details costs related to litigation, brokerage fees, consulting services, and other operational expenses of the Access Fund and its alternative investment vehicles.

document_subtype: Endowment Fund Expenses

key_organizations:
Georgetown University
Access Fund
Underlying Fund
General Partner
Investment Manager


document_description: This document outlines the financial responsibilities and fee structures for Limited Partners involved in the Georgetown University Endowment, specifically related to the Access Fund and Feeder Funds. 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: Endowment Fund Agreement

key_organizations:
Georgetown University
Access Fund
Feeder Fund
Underlying Fund


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

document_subtype: Investment Agreement

key_organizations:
Georgetown University Endowment
Access Fund
Underlying Fund
Investment Manager
Placement Agents
Glendower GP


document_description: The document outlines the terms and conditions related to the placement fees and management fees for the Access Fund, which is a limited partner of the Underlying Fund. It details the role of Raymond James & Associates, Inc. as a placement agent, the applicable placement fees for limited partners, and the management fee structure for the Underlying Fund managed by Glendower.

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


document_description: The document outlines the terms related to carried interest distributions, indemnification, and withdrawal/transfer of interests for the Georgetown University Endowment's investment in the Underlying Fund managed by Glendower GP. It specifies the carried interest distribution rate, indemnification obligations, and conditions for withdrawal and transfer of interests.

document_subtype: Investment Fund Agreement

key_organizations:
Georgetown University Endowment
Underlying Fund
Access Fund


document_description: The document outlines the financial reporting and tax implications for Limited Partners of the Georgetown University Endowment's Access Fund. It details the responsibilities of Limited Partners regarding unpaid subscriptions and transfer expenses, and the reporting schedule for financial statements and tax documents. The document also discusses the U.S. federal income tax treatment of the Access Fund and its implications for U.S. Tax-Exempt Investors and Non-U.S. Investors.

document_subtype: Endowment Report

key_organizations:
Georgetown University
Access Fund
U.S. Internal Revenue Service


document_description: The document discusses considerations for prospective investors in the Access Fund, particularly in relation to ERISA compliance. It outlines the General Partner's efforts to ensure the fund is suitable for employee benefit plans under ERISA, including maintaining less than 25% ownership by benefit plan investors. It also covers the potential requirement for Limited Partners to return distributions to cover liabilities and the amendment procedures for the Partnership Agreement.

key_organizations:
Georgetown University Endowment
Access Fund


document_description: The document outlines the terms and conditions related to amendments, voting rights, and borrowing for the Georgetown University Endowment's Access Fund. It specifies conditions under which amendments can be made to the Partnership Agreement, the voting process for the Access Fund's interests, and the borrowing arrangements through a credit facility.

key_organizations:
Georgetown University Endowment
Access Fund
Underlying Fund


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


document_description: The document provides information about the Georgetown University Endowment's investment in the Access Fund, including legal counsel, auditor, administrator, and custodian details. It outlines the responsibilities of the General Partner in providing information to various parties and highlights the legal counsel provided by Cleary Gottlieb Steen & Hamilton LLP and Maples and Calder. KPMG or another firm will act as the auditor.

key_people:
Cleary Gottlieb Steen & Hamilton LLP
Maples and Calder

document_subtype: Investment Fund Information

key_organizations:
Georgetown University Endowment
Access Fund
Glendower GP
KPMG


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

document_subtype: investment risk disclosure

key_organizations:
Georgetown University Endowment
Access Fund
Underlying Fund
Raymond James
Glendower


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

key_organizations:
Georgetown University Endowment
Raymond James
Access Fund
Underlying Fund
Glendower


document_description: The document outlines the investment strategies and potential conflicts of interest related to the Georgetown University Endowment managed by the General Partner and the Investment Manager. It discusses the use of registered investment advisers and Placement Agents, the management of other funds or Managed Accounts with similar strategies, and the valuation of assets within the Access Fund.

key_organizations:
Georgetown University Endowment
General Partner
Investment Manager
iCapital Network
Glendower


document_description: The document outlines the collaboration between the Investment Manager and Fidelity, detailing compensation arrangements, potential conflicts of interest, and educational programs for financial advisers. It also discusses the consequences of defaulting on capital contributions, ERISA considerations, and the potential impact on the Access Fund.

document_subtype: investment agreement

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


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

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

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

document_subtype: legal document

key_organizations:
Access Fund
Georgetown University Endowment
Glendower


document_description: The document discusses the terms and conditions of the Access Fund and the Underlying Fund managed by Glendower. It highlights potential conflicts of interest among investors, confidentiality of certain information, the possibility of changes to the Underlying Fund's terms, and the use of Side Letters for preferential terms. It also notes the prohibition of interest transfers without consent.

document_subtype: investment memorandum

key_organizations:
Georgetown University Endowment
Glendower
Access Fund
Underlying Fund


document_description: The document outlines the terms and conditions related to the Georgetown University Endowment's involvement with the Glendower GP and the Access Fund. It covers topics such as the discretion of the General Partner, repayment of distributions, reinvestment rights, indemnity obligations, and multiple layers of expenses associated with the Access Fund and the Underlying Fund.

document_subtype: investment fund document

key_organizations:
Georgetown University Endowment
Glendower GP
Access Fund
Underlying Fund


document_description: The document discusses the investment terms and conditions for investors in the Georgetown University Endowment's Access Fund. It covers topics such as participation in existing investments, public disclosure requirements, and borrowing strategies. The document highlights the risks associated with borrowing, including potential loss of assets and increased expenses.


document_description: The document discusses the financial management and risks associated with the Access Fund's investment in the Underlying Fund. It covers topics such as cash management, over-commitment, lack of diversification, forward-looking statements, and disqualification of certain 'bad actors' from Rule 506 offerings.

key_organizations:
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 impact of regulatory changes on private investment funds, including increased scrutiny, administrative burdens, and compliance costs. The document also addresses the implications of new market structure requirements for derivatives.

document_subtype: regulatory compliance document

key_organizations:
Georgetown University Endowment
Glendower GP
Access Fund
Underlying Fund
SEC
CFTC


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

key_locations:
European Union
Japan
United States

document_subtype: financial regulation summary

key_organizations:
Georgetown University Endowment
CFTC
Glendower


document_description: The document discusses the potential impacts of recent changes in U.S. tax law, specifically the 2017 Tax Legislation, on the Georgetown University Endowment's Access Fund and its investments. It highlights the possible increase in costs and reduction in exposure due to new position limits and aggregation requirements. The document also outlines the legal representation for the Access Fund and advises prospective investors to seek independent legal, tax, and financial advice.

title: Georgetown University Endowment - Legal and Tax Implications

key_locations:
United States
Cayman Islands

document_subtype: legal advisory


document_description: The document provides tax-related information for Limited Partners of the Georgetown University Endowment's Access Fund. It discusses the implications of the 2017 Tax Legislation, the requirement for Limited Partners to file U.S. federal, state, and local income tax returns, and the provision of IRS Form 1065 Schedule K-1. It also covers topics such as 'phantom' income, tax-exempt investors and UBTI, non-U.S. investors and ECI, and the Foreign Account Tax Compliance Act (FATCA).

document_subtype: tax information

key_organizations:
Georgetown University Endowment
Access 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 Georgetown University Endowment's Access Fund. It outlines the changes in audit procedures, potential tax liabilities for partners, and the implications of not electing an alternative procedure. The document also highlights other tax risks associated with investing in the Access Fund, including adverse changes in tax laws and potential taxation in various jurisdictions.

document_subtype: tax legislation summary


document_description: The document discusses potential tax implications for Limited Partners of the Access Fund, including the possibility of audits by the IRS that may alter reported taxable income. It outlines the responsibilities of the General Partner in contesting tax adjustments and the limitations on Limited Partners' participation in related proceedings.

document_subtype: investment document

key_organizations:
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, based on the Internal Revenue Code, U.S. Treasury Regulations, and judicial decisions as of the date of the memorandum. It highlights that the IRS may take different positions and that no ruling or opinion from the IRS or counsel has been obtained. The discussion is limited to U.S. persons and does not cover all possible tax considerations, especially for non-U.S. persons or tax-exempt entities. It assumes that Limited Partners will provide necessary certifications to minimize withholding and will hold interests as capital assets.

key_locations:
United States
District of Columbia

document_subtype: tax considerations


document_description: This document is a tax summary related to the Georgetown University Endowment's Access Fund and Underlying Fund, discussing the U.S. federal income tax implications for prospective limited partners. It outlines the expectation that both funds will be treated as partnerships for tax purposes, meaning they will not pay federal income taxes directly, but income or loss will pass through to partners. It also warns of potential reclassification as a corporation, which would change tax obligations. The document advises prospective partners to consult their own tax advisors.

document_subtype: tax summary


document_description: This document discusses the tax consequences of the Access Fund's investments, activities, income, gain, and loss, including indirect investments. It covers topics such as a Limited Partner's tax basis in its interests, distributions, and allocations of income and loss to Limited Partners. The document outlines how cash distributions are taxed, the treatment of property distributions, and the allocation of income and loss according to the Partnership Agreement. It also mentions the potential for IRS challenges to the Fund's allocations.

document_subtype: tax document


document_description: The document outlines the tax implications and conditions related to the sale of interests in the Georgetown University Endowment's Access Fund. It discusses capital gains or losses, tax basis adjustments, and limitations on the deductibility of interest expenses for non-corporate taxpayers. The document also mentions the potential termination of the Access Fund for U.S. federal income tax purposes if 50% or more of the interests are sold within a twelve-month period.

document_subtype: Endowment Sale Agreement

key_organizations:
Georgetown University
Access Fund


document_description: The document outlines tax implications for non-corporate Limited Partners in the Access Fund, including investment interest limitations, passive activity loss restrictions, at-risk limitations, and deductibility of expenses. It advises consultation with tax advisors for specific situations.

document_subtype: investment fund provision


document_description: The document discusses the tax treatment of investments and capital losses for the Georgetown University Endowment's Access Fund. It covers topics such as the amortization of start-up and organizational expenses, limitations on the deductibility of capital losses, and the tax treatment of gains and income from investments. It also addresses the treatment of debt investments, including original issue discount, market discount, and contingent payment debt instruments, as well as uncertainties in tax law related to debt restructuring.


document_description: The document discusses the tax implications for the Access Fund, including the restructuring of debt obligations, investments in derivatives, partnerships, and passive foreign investment companies (PFICs). It highlights potential taxable events, the impact on Limited Partners, and the need for investors to consult tax advisors.

document_subtype: investment fund tax implications

key_organizations:
Access Fund
Georgetown University Endowment


document_description: This document outlines the tax implications for U.S. persons and tax-exempt investors involved with the Georgetown University Endowment's Access Fund, particularly in relation to Controlled Foreign Corporations (CFCs) and foreign currency transactions. It discusses the tax responsibilities of Limited Partners who are U.S. persons, including the inclusion of certain earnings in gross income and the treatment of foreign currency gains or losses. It also highlights the potential for unrelated business taxable income (UBTI) for U.S. tax-exempt investors due to leverage and other income-generating activities.

key_organizations:
Georgetown University Endowment
Access Fund


document_description: This document discusses the tax implications for U.S. Tax-Exempt Investors investing in the Access Fund, including potential UBTI, excise taxes, and foreign tax credits. It also covers the tax return filing and audit processes for the Access Fund and its partners.


document_description: The document discusses U.S. tax reporting requirements for Limited Partners of the Georgetown University Endowment, particularly those with interests in non-U.S. entities. It outlines the obligations for filing information returns, potential penalties for non-compliance, and the conditions under which qualified dividend income is taxed at reduced rates. The document also touches on the requirements for filing an FBAR for U.S. persons with financial interests in non-U.S. accounts.


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

document_subtype: investment fund tax information


document_description: This document is an investment memorandum for the Georgetown University Endowment, specifically regarding the Access Fund. It outlines U.S. federal income tax considerations for prospective Limited Partners, emphasizing the need for investors to consult their own tax advisors. The document also discusses regulatory matters, including the reliance on exemptions from registration under the Securities Act of 1933 for the offer and sale of Interests. It highlights the risks associated with the investment, including the indefinite economic risk due to the lack of registration of Interests. Additionally, it discloses past regulatory issues involving Raymond James, the Placement Agent, related to auction rate securities.

key_locations:
United States
Puerto Rico
Virgin Islands
District of Columbia

document_subtype: Investment Memorandum

key_organizations:
Georgetown University Endowment
Access Fund
Raymond James Financial Services, Inc.
Securities and Exchange Commission


document_description: The document outlines the legal considerations and exemptions applicable to the Georgetown University Endowment's Access Fund under various U.S. financial regulations, including the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Commodity Exchange Act of 1974. It discusses the fund's exemption from registration requirements and the legal and tax considerations for investors.

document_subtype: legal disclosure

key_organizations:
Georgetown University Endowment
Access Fund
U.S Securities Exchange
National Futures Association


document_description: The document discusses regulatory compliance and investment considerations for the Access Fund, including anti-money laundering measures, the Alternative Investment Fund Managers Directive, and ERISA considerations. It outlines the requirements for investors to provide documentation verifying the source of funds and compliance with OFAC regulations. It also addresses the General Partner's intention to ensure the Access Fund is a permissible investment for ERISA plans.

document_subtype: memo

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


document_description: The document discusses the implications of the 2017 Fiduciary Rule by the U.S. Department of Labor on investments by ERISA Plans and Individual Plans in the Access Fund. It outlines the responsibilities and potential prohibited transactions under ERISA and the Code, and the conditions under which the General Partner and Sponsor may be considered fiduciaries. The document also explains the 25% ownership rule for benefit plan investors to avoid the Access Fund's assets being treated as plan assets.

document_subtype: investment advisory

key_organizations:
U.S. Department of Labor
Georgetown University Endowment


document_description: This document discusses the implications of ERISA regulations on investments in the Access Fund by benefit plan investors. It outlines the conditions under which the assets of the Access Fund would be considered plan assets under ERISA, the responsibilities of the General Partner, and the reporting requirements for ERISA Plan investors. It also advises fiduciaries of ERISA Plans to consult legal counsel regarding investments in the Access Fund.


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:
Georgetown University Endowment
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: This document outlines the financial structure and obligations of Limited Partners in the Georgetown University Endowment's Access Fund. It details the allocation of expenses, indemnification obligations, and the conditions under which Limited Partners may be required to return distributions to the Access Fund. The document also addresses the management of expenses between the Access Fund and any Parallel Access Funds.

document_subtype: Endowment Fund Agreement

key_organizations:
Georgetown University Endowment
Access Fund
Underlying Fund


document_description: Amendments to the risk factors and potential conflicts of interest sections related to the Access Fund's investment in the Underlying Fund. Changes include clarifications on investor rights, indemnification obligations, and repayment of distributions.

key_organizations:
Access Fund
Underlying Fund
Glendower GP


document_description: The document outlines the indemnity obligations of the Access Fund and the Underlying Fund, including the funding of these obligations through capital calls or return of distributions. It also discusses the expenses and management costs associated with the Access Fund and the Underlying Fund, which will be borne by the Access Fund. The document includes amendments to certain risk factors and potential conflicts of interest related to multiple layers of expenses.

document_subtype: Partnership Agreement

key_organizations:
Georgetown University Endowment
Access Fund
Underlying Fund
Glendower GP


document_description: This document is a confidential private placement memorandum related to the Georgetown University Endowment, 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_type: other


document_description: This document is a confidential private placement memorandum related to the Glendower Capital Secondary Opportunities Fund IV, LP, associated with Georgetown University Endowment and Credit Suisse.

document_subtype: Confidential Private Placement Memorandum

key_organizations:
Glendower Capital
Georgetown University Endowment
Credit Suisse


document_description: A blank page marked as confidential, related to Georgetown University Endowment, with references to legal confidentiality under Federal Rules of Criminal Procedure.


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, risks, and regulatory status 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 the terms and conditions under which the fund's interests are offered, including the lack of registration under the U.S. Investment Company Act of 1940 and the U.S. Securities Act of 1933. The memorandum highlights the risks associated with the investment, the lack of liquidity, and the indefinite period for which investors may need to bear these risks. It also advises prospective investors to consult their advisors regarding legal, tax, and financial matters related to the investment.

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

key_organizations:
Glendower Capital
Georgetown University Endowment


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the past performance of the SOF funds managed by Glendower Capital and the U.S. Adviser, previously part of Deutsche Bank. The memorandum includes forward-looking statements and legal disclaimers about the fund's performance and regulatory status. It also clarifies that the memorandum does not constitute an offer or solicitation in any jurisdiction where it is unlawful.

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

key_organizations:
Glendower Capital
Deutsche Bank
Glendower Capital (U.S.), LLC
FCA
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 outlines the exemption from registration with the U.S. Commodity Futures Trading Commission (CFTC) for Glendower Capital, LLP and the General Partner. The memorandum is prepared by representatives of the fund and furnished by Credit Suisse as a placement agent. It details the roles and responsibilities of Credit Suisse, including their non-advisory role and potential conflicts of interest due to their business dealings with affiliates of the General Partner and other third-party fund sponsors.


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

key_locations:
New Hampshire
Florida

key_organizations:
Georgetown University Endowment
Glendower Capital
Credit Suisse


document_description: Contact information for Glendower Capital and Credit Suisse Asset Management, including addresses and attention contacts for Carlo Pirzio-Biroli, Joshua C. Glaser, and Michael J. Murphy. The document is marked confidential pursuant to Federal Rule of Criminal Procedure 6(e).

title: Glendower Capital Secondary Opportunities Fund IV, LP

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

key_locations:
London, United Kingdom
New York, United States of America

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, detailing sections on investment performance, fund management, risk factors, and legal considerations.

document_subtype: investment document


document_description: A confidential private placement memorandum related to Glendower Capital Secondary Opportunities Fund IV, LP and Georgetown University Endowment.

title: Confidential Private Placement Memorandum


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

title: Georgetown University Endowment - Glendower Capital Secondary Opportunities Fund IV, LP

key_organizations:
Georgetown University
Glendower Capital


document_description: Glendower Capital Secondary Opportunities Fund IV, LP is being formed by Glendower Capital, an independent investment firm focused on secondary private markets. The fund seeks US$1.75 billion in commitments to generate attractive risk-adjusted returns through diverse investments in the secondary market, primarily in the U.S. and Europe. It is the fourth dedicated secondary 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
Deutsche Asset Management
Deutsche Bank


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

key_organizations:
Glendower Capital
Deutsche Asset Management


document_description: The document is an executive summary of the Glendower Capital Secondary Opportunities Fund IV, LP, detailing its investment strategy and focus areas. The fund targets bespoke liquidity solutions and GP-led secondary deals, emphasizing less competitive transactions and a true value approach. The strategy includes purchasing mature fund interests at a discount, efficient portfolio management, and leveraging relationships with fund sponsors and sellers. The document highlights the fund's distinctive investment strategy and past performance of the SOF Team.


document_description: The document is an executive summary of the Glendower Capital Secondary Opportunities Fund IV, LP, detailing its performance metrics as of September 30, 2017. It highlights the fund's strong performance with a 1.6x gross multiple and 28% IRR since inception. The document also outlines the performance of various SOF funds, the experienced team behind the fund, and the disciplined investment process aimed at achieving over 20% Net IRR.

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

key_locations:
London
New York


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. The fund leverages relationships with over 180 fund sponsors to conduct detailed analyses of portfolio companies, focusing on operational, financial, and market risks, cash flow, and management. The fund aims to align interests between sponsors and investors, with Glendower Capital's team committing a minimum of 1.0% of the fund and receiving all carried interest. Deutsche Bank is not involved in the fund's management. Key terms and potential risks are detailed in subsequent sections.

key_people:
Glendower SOF Team
Senior members of Glendower Capital

key_organizations:
Glendower Capital
Deutsche Bank


document_description: This document is a confidential private placement memorandum related to the investment performance of the Glendower Capital Secondary Opportunities Fund IV, LP, associated with the Georgetown University Endowment.


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

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

document_subtype: Investment Performance Report


document_description: The document provides an analysis of the investment performance of the Glendower Capital Secondary Opportunities Fund IV, LP, comparing it against the Cambridge Associates Secondaries Benchmark and Global Buyout Benchmark as of September 30, 2017. It includes performance metrics such as Net IRR, DPI, and TVPI for various SOF funds across different vintage years, highlighting their strong performance relative to benchmarks.

title: Georgetown University Endowment - Investment Performance

key_organizations:
Georgetown University
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 II and SOF III. It highlights the consistency in Net Contributed Capital, Net IRR, TVPI, and DPI development 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 performance is attributed to the consistent investment strategy of the Glendower SOF Team since 2006.

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

document_subtype: investment performance report


document_description: The document provides a comparison of the Glendower Capital Secondary Opportunities Fund (SOF) Program against public market indexes such as the MSCI World Index, Russell 2000 Index, and Thomson Reuters Private Equity Buyout Index. The SOF Program, including its various funds, shows favorable performance compared to these indices.


document_description: This document is a summary of the principal terms for the Glendower Capital Secondary Opportunities Fund IV, LP, associated with the Georgetown University Endowment.

title: Summary of Principal Terms


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

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

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

document_subtype: Investment Summary


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


document_description: The document outlines the investment strategy and objectives of the Glendower Capital Secondary Opportunities Fund IV, LP (SOF IV). The fund aims to pursue a disciplined investment strategy in the secondary market, focusing on fund secondaries, GP-led secondaries, and single asset deals. It targets investments primarily in the U.S. and Europe, with a goal of achieving risk-adjusted returns in excess of 20% Net IRR. The fund will also allocate up to 15% of commitments to primary fund investments and other opportunities.

document_subtype: Investment Fund Memorandum


document_description: The document outlines the investment strategy and sourcing approach of Glendower Capital Secondary Opportunities Fund IV, LP. It emphasizes the fund's ability to source less intermediated deal flow and work directly with sellers, leveraging a global network of relationships. The fund focuses on non-monetary factors such as confidentiality, speed, and certainty of execution, particularly in distressed financial conditions. The document provides data on the geographical distribution of assets and sellers, and highlights the fund's extensive industry network and disciplined deal selection process.

key_locations:
North America
Europe
Asia and Pacific

key_organizations:
Glendower Capital
DB Wealth Management
Raymond James
Alex Brown


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


document_description: The document provides an overview of the secondary private equity market, highlighting its growth and evolution over the past two decades. It discusses the expansion of the market to include various liquidity solutions and the significant increase in market volume, driven by factors such as GP-led secondaries and active portfolio management. The document also includes data on market volumes from 2006 to 2017 and references several sources for its analysis.

key_organizations:
Glendower Capital
Preqin
Greenhill


document_description: The document discusses the growth and pricing trends in the secondary private equity market, highlighting the role of Glendower Capital Secondary Opportunities Fund IV, LP. It includes data on the net asset value (NAV) and unfunded amounts, as well as a table showing unrealized portfolio values and dry powder from 2007 to 2017. The document also analyzes secondary market pricing and factors affecting it, such as fund age and quality of managers.

document_subtype: financial report

key_organizations:
Glendower Capital
Greenhill
Preqin
Dow Jones


document_description: The document provides an analysis of secondary market pricing trends from 2005 to 2017, highlighting the impact of market conditions on pricing and transaction volumes. It discusses the overheated market in 2006-2007, the subsequent decline in transactions, and the recovery of market pricing to a stable range of 10% discount to NAV from 2014 onwards.

title: Secondary Market Pricing Analysis

document_subtype: financial analysis

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


document_description: The document discusses the secondary market supply and demand balance in the private equity sector, focusing on Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the estimated dry powder in the secondary market, the annual deal volume, and the ratio of available deal volume to dry powder. The document also covers the diverse seller composition in the secondary market and the strategic use of secondary markets for portfolio management.

key_organizations:
Georgetown University Endowment
Glendower Capital
Greenhill
Preqin
Bain & Company


document_description: The document provides a breakdown of seller composition and funds marketed by vintage for Glendower Capital Secondary Opportunities Fund IV, LP. It includes data on the emergence of tail-end sales and the supply of secondary opportunities in pre-crisis bubble funds.


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, such as the global financial crisis and the proactive approach of LPs in rebalancing portfolios.

key_organizations:
Glendower Capital
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 focusing on alignment with managers, diversified portfolios, and attractive assets. The document also includes market intelligence and illustrative transactions involving various private equity funds.

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


document_description: The document discusses the competitive environment of the secondary market for private equity funds, focusing on Glendower Capital's positioning in the mid-sized segment. It highlights the fund's strategy, competitive landscape, and sourcing strategies, emphasizing the fund's ability to build diversified portfolios and selectively acquire assets from alternative asset managers, family offices, and endowments.

document_date: unknown

document_subtype: investment memorandum


document_description: The document outlines the investment strategy and process of the Glendower Capital Secondary Opportunities Fund IV, LP. The fund focuses on purchasing mature fund interests (at least 50% drawn) to reduce 'blind pool risk'. The investment process includes deal origination, screening, investment decision, monitoring, and realisation. The fund aims to acquire funds through exclusive or minimally competitive transactions using its network of industry relationships.


document_description: The document outlines the investment strategy and process for Glendower Capital Secondary Opportunities Fund IV, LP. It details the principles of asset selection, due diligence, investment decision-making, and risk management. The focus is on identifying quality investment opportunities through a rigorous due diligence process and aligning interests with fund sponsors and LPs. The document also describes the role of the Investment Committee in approving investments and the process of closing transactions.

document_subtype: Investment Memorandum


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


document_description: This document is a confidential private placement memorandum related to the Georgetown University Endowment and Glendower Capital Secondary Opportunities Fund IV, LP. The page is intentionally left blank and marked as confidential pursuant to Federal Rule of Criminal Procedure 6(e).


document_description: This document is a confidential private placement memorandum related to the Georgetown University Endowment and the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details about fund management.


document_description: Glendower Capital is an independent investment firm focused on secondary private markets. The firm was formed by a team that spun out from Deutsche Asset Management in 2017. The fund, SOF IV, will be managed by Glendower Capital, which is authorized as an AIFM by the FCA. The investment team consists of 16 professionals with significant experience in secondary investments. An investment committee will oversee the fund's investments, with key members including Carlo Pirzio-Biroli and Charles Smith.

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

document_subtype: Fund Management

key_organizations:
Glendower Capital
Deutsche Asset Management
FCA


document_description: This document is a section from the Georgetown University Endowment's fund management details, specifically focusing on the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the members of the SOF IV Investment Committee and their professional backgrounds, as well as key professionals at Glendower Capital.

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
Cambridge University
Colgate University
HEC Paris
Polytechnic University of Madrid

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


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

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

key_locations:
New York
Milan
South Africa
London

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


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

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

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


document_description: This document is a summary of terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP, associated with the Georgetown University Endowment.

title: Summary of Terms and Conditions


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

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

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

key_locations:
Cayman Islands
UK
U.S.
Europe

document_subtype: Summary of Terms and Conditions

key_organizations:
Glendower Capital
Financial Conduct Authority


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, commitments, minimum commitment, capital contributions, team investment, closings, subsequent closing partners, and drawdowns.

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

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

document_subtype: Investment Fund Terms

key_organizations:
Glendower Capital
Georgetown University Endowment


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 restrictions. The investment period is defined by specific conditions, and the document specifies how commitments can be drawn down and reinvested. Key persons are identified, and conditions for suspension and reinstatement of the investment period are detailed. Diversification limits are also set forth.

key_people:
Charles Smith
Carlo Pirzioaroli
Adam Graev
Chi Cheung

document_subtype: Investment Terms and Conditions

key_organizations:
Glendower Capital
Fund Advisory Committee


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


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It details the General Partner's Share, applicable points for commitments, and distribution of net proceeds. The document specifies the conditions under which the General Partner's Share is reduced and defines 'Legacy Investor' and 'Carried Interest'. Distributions are made to partners based on their advances and internal rate of return, with specific allocations to the Special Limited Partner.


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


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP, including details on feeder and parallel funds, successor funds, allocation of investment opportunities, transfers and withdrawals, reporting and valuations, and disclosure of changes to leverage provisions. It specifies the rights and obligations of the Limited Partners and the Manager, including the conditions under which new funds can be closed, how investment opportunities are allocated, and the reporting requirements for financial statements and leverage usage.


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes provisions for co-investment opportunities, the use of alternative vehicles for investments, the establishment of parallel and feeder funds, and the use of side letters to provide additional rights or alter terms for certain limited partners. The document emphasizes the discretion of the Manager and General Partner in structuring investments and agreements to accommodate legal, regulatory, or tax constraints.


document_description: This document is a summary of terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines indemnification clauses, conditions for the removal of the General Partner, amendments to the Fund Partnership Agreement, default provisions, and the term of the fund. Key points include indemnification of Covered Persons, conditions for 'For Cause' and 'No Fault' removal of the General Partner, and the process for amending the Fund Partnership Agreement.


document_description: This document is a summary of terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP, as part of the Georgetown University Endowment. It outlines the currency denomination, tax considerations for UK and US investors, ERISA considerations, risk factors, potential conflicts of interest, and the roles of special counsel and auditors. The fund is denominated in U.S. dollars and is intended to be treated as a partnership for U.S. federal income tax purposes. The document advises prospective investors to consult their own tax and legal advisors.


document_description: The document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It specifies that Aztec Financial Services (UK) Limited will be appointed as the AIFMD-compliant depositary and fund administrator before the First Closing. Credit Suisse Asset Management Limited is designated as the Global Placement Agent.


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


document_description: This document is a confidential private placement memorandum for the Georgetown University Endowment's investment in the Glendower Capital Secondary Opportunities Fund IV, LP. It includes Section 7, which outlines the risk factors associated with the investment.


document_description: The document outlines various risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP, including leverage, investments in troubled and leveraged companies, venture capital investments, valuation issues, lack of liquidity, and the absence of an established market for secondaries investments. These factors highlight the potential financial risks and uncertainties involved in the fund's investment strategies.


document_description: The document outlines various risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP, particularly focusing on secondary investments in real estate and real estate-related assets. It highlights risks such as economic changes, financing terms, environmental laws, and natural disasters. It also discusses the multiple levels of expenses, contingent liabilities, independent investment strategies of underlying funds, and lack of direct interest for investors in portfolio investments.


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


document_description: The document outlines various risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the unpredictability of future events, potential poor performance of investments, exclusive loss bearing by the Fund and its partners, risks associated with leverage, and the use of subscription line facilities. The document also notes that the performance data provided is as of June 30, 2017, and may not reflect the current position.


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


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