document_description: The document outlines the procedures for initial and subsequent closings of the Access Fund, including the responsibilities and financial obligations of Limited Partners during these closings.

document_subtype: memo

key_organizations:
Access Fund
General Partner
Underlying Fund
Glendower GP
Investment Manager


source: doj

document_description: The document outlines the investment strategy and terms for the Access Fund's investment in an Underlying Fund. It details the process for additional investments at subsequent closings, potential dilution of existing investors' interests, and the formation of parallel access and feeder funds.

document_type: financial

document_subtype: Investment Fund Document

key_organizations:
Access Fund
Underlying Fund
Glendower GP


document_description: The document outlines the consequences of a Limited Partner's failure to provide necessary information or make capital contributions as per the Subscription Agreement. It details the potential remedies the Underlying Fund may impose on the Access Fund in case of default, including forfeiture of interest. It also describes the process for handling defaults, including the bifurcated default process, where the Access Fund may be treated as a 'Defaulting Partner' and the rights and remedies against a Defaulting Access Fund Investor are delegated to the Underlying Fund.

document_type: legal

document_subtype: Partnership Agreement

key_organizations:
Access Fund
Underlying Fund
Glendower
General Partner
Investment Manager


document_description: The document outlines the distribution and allocation procedures for the Access Fund, including the handling of distributions from the Underlying Fund, capital account maintenance, and allocation of income, gain, loss, and deduction. It also details the organizational and offering expenses to be borne by the Access Fund and its Limited Partners, as well as other expenses related to the management and operation of the Access Fund.

key_organizations:
Access Fund
Feeder Fund
General Partner
Investment Manager


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, and specifies the rates applicable during different phases of the investment. The document also mentions the payment of management fees to the Investment Manager and the role of Placement Agents.

document_subtype: Investment Agreement

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


document_description: This document outlines the placement agent and fee structure for the Access Fund, which utilizes Raymond James & Associates, Inc. or Raymond James Financial Services, Inc. as placement agents. Limited Partners are required to pay a one-time upfront placement fee of up to 2.0% of their subscription. The document also details marketing and fund servicing fees, as well as the management fee for the Underlying Fund managed by Glendower.

document_subtype: Investment Document

key_organizations:
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 Glendower GP and Access Fund. It specifies the carried interest distribution rate, indemnification obligations, and conditions for withdrawal and transfer of interests by Limited Partners.

document_subtype: Investment Fund Agreement

key_organizations:
Glendower GP
Access Fund


document_description: This document outlines certain ERISA considerations for prospective investors in the Access Fund, including compliance with ERISA provisions and limitations on benefit plan investors. It also discusses the potential for Limited Partners to return distributions in case of indemnification liabilities and the procedures for amending the Partnership Agreement.

key_organizations:
Access Fund
General Partner


document_description: The document outlines the terms and conditions under which amendments to the Partnership Agreement can be made, the voting rights of the Access Fund, and the borrowing capabilities of the Access Fund. It specifies that the General Partner and Investment Manager can amend the agreement without consulting Limited Partners, provided it does not materially affect their economic returns. The Access Fund may also enter into a credit facility for temporary funding needs.

document_type: correspondence

document_subtype: investment agreement

key_organizations:
Access Fund
General Partner
Investment Manager
Underlying Fund


document_description: The document discusses the borrowing capabilities and limitations of an Underlying Fund and its impact on an Access Fund's ability to borrow funds. It outlines investor eligibility criteria and confidentiality obligations for Limited Partners. It also mentions compliance with U.S. Treasury Regulations regarding disclosure of tax treatment and structure.

key_organizations:
Underlying Fund
Access Fund


document_description: The document outlines the roles and responsibilities of various parties involved in the Access Fund, including the General Partner, Limited Partners, legal counsel, auditor, administrator, and custodian. It specifies the legal counsel for the General Partner and Investment Manager, and mentions the requirement for the General Partner to provide certain information to the Glendower GP and other parties as necessary. It also advises investors to consult their own legal counsel regarding investments in the Access Fund.

document_subtype: Investor Information

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


document_description: The document outlines certain risk factors and potential conflicts of interest associated with investing in the Access Fund. It highlights business and market risks, placement agent fees, and conflicts of interest due to compensation arrangements. The document advises potential investors to carefully consider these risks before investing.

document_subtype: investment risk disclosure

key_organizations:
Access Fund
Underlying Fund
Raymond James
Glendower


document_description: The document outlines the terms and conditions of an investment in the Access Fund, including indemnification clauses, capital contribution requirements, co-investment opportunities, and compensation structures. It highlights the risks and conflicts of interest associated with the investment, advising investors to consult their own advisors.

key_organizations:
General Partner
Investment Manager
Administrator
Custodian
Access Fund
Underlying Fund
Glendower GP
iCapital Securities, LLC
iCapital Network


document_description: The document discusses the potential risks and legal implications for the Access Fund, a private equity fund, regarding ERISA controlled group liability and the impact of the Sun Capital Cases. It highlights the lack of recourse for Limited Partners against the Underlying Fund, the illiquidity of investments, and the absence of voting rights for Limited Partners. The document also mentions investment concentration risks associated with 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 analysis

key_organizations:
Access Fund
Underlying Fund
Glendower


document_description: The document discusses the terms and conditions related to the Underlying Fund and the Access Fund, including potential conflicts of interest, confidentiality of information, and the possibility of amendments to the governing agreement. It also covers the use of Side Letters for preferential terms for certain investors and the restrictions on transferring interests without consent.

document_subtype: investment memorandum

key_organizations:
DiversePartnership
Glendower
Underlying Fund
Access Fund
General Partner


document_description: The document discusses the implications of investors subscribing for interests in a fund during subsequent closings, including potential dilution of existing investors' interests and issues related to public disclosure requirements. It also covers the borrowing strategies of the Access Fund and Underlying Fund, including the use of leverage and associated risks.

document_subtype: investment document

key_organizations:
Access Fund
Underlying Fund
General Partner
Investment Manager
Glendower GP


document_description: The document discusses the financial management and investment strategies of the Access Fund, including potential risks such as over-commitment, lack of diversification, and reliance on forward-looking statements. It also addresses regulatory compliance issues related to Rule 506 of Regulation D and the disqualification of certain 'bad actors' from offerings.

key_people:
General Partner
Investment Manager

document_subtype: memorandum

key_organizations:
Access Fund
Underlying Fund


document_description: The document discusses regulatory changes in the OTC derivatives market, including requirements for 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 the CFTC's authority to impose position limits on derivatives.

key_locations:
European Union
Japan

document_subtype: financial regulation overview

key_organizations:
CFTC
Underlying Fund
Access Fund
Glendower


document_description: The document discusses the potential impacts of recent changes in U.S. tax law and position limits on the Access Fund and its investments. It highlights the role of legal counsel and advises prospective investors to seek independent legal, tax, and financial advice.

key_locations:
United States
Cayman Islands

document_subtype: legal advisory

key_organizations:
Cleary Gottlieb Steen & Hamilton LLP
Maples and Calder
Access Fund
Underlying Fund


document_description: The document provides tax information for Limited Partners of the Access Fund, including implications of the 2017 Tax Legislation, phantom income, UBTI for tax-exempt investors, and FATCA compliance requirements.

document_subtype: tax information

key_organizations:
Access Fund
IRS


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

document_subtype: tax document


document_description: This document provides a summary of certain U.S. federal income tax considerations related to an investment in the Access Fund. It discusses the implications for U.S. persons and highlights that the IRS may have different interpretations. The document advises Limited Partners to consult their own tax advisors, especially if they are not U.S. persons or fall under special categories such as financial institutions or expatriates.

key_locations:
United States
District of Columbia

document_subtype: tax considerations


document_description: This document provides a summary of the expected U.S. federal income tax treatment for the Access Fund and the Underlying Fund, which are anticipated to be treated as partnerships for tax purposes. It outlines potential tax consequences for limited partners, including the possibility of being taxed on income not distributed as cash. The document also discusses risks of the Funds being classified as corporations, which would result in different tax implications.

document_subtype: tax summary

key_organizations:
Access Fund
Underlying Fund
IRS


document_description: This document discusses the tax implications for non-corporate Limited Partners investing in the Access Fund, including investment interest limitations, passive activity loss limitations, at-risk limitations, and deductibility of expenses. It advises prospective investors to consult tax advisors regarding these limitations.

document_date: unknown

document_subtype: memo


document_description: This document discusses the tax implications for U.S. persons and U.S. Tax-Exempt Investors involved with Controlled Foreign Corporations (CFCs) and the Access Fund. It outlines the rules for U.S. shareholders of CFCs, including the need to include certain earnings in gross income and the treatment of gains as dividend income. It also covers the impact of foreign currency transactions and the potential for unrelated business taxable income (UBTI) for tax-exempt investors.


document_description: The document discusses tax implications for U.S. Tax-Exempt Investors in the Access Fund, including potential UBTI, excise taxes, and foreign tax credits. It advises investors to consult tax advisors regarding these issues and outlines the Access Fund's tax return and audit procedures.


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


document_description: This document is a memorandum discussing the U.S. federal income tax rules and considerations affecting Limited Partners and the Access Fund's operations. It also covers certain regulatory matters related to the Securities Act of 1933, including the offer and sale of Interests not being registered under the Securities Act. The document includes a disclosure about Raymond James Financial Services, Inc.'s settlement related to auction rate securities.

key_locations:
United States
Puerto Rico
Virgin Islands
District of Columbia

key_organizations:
Access Fund
IRS
Securities and Exchange Commission
Raymond James Financial Services, Inc.


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

document_subtype: legal disclosure

key_organizations:
Access Fund
General Partner
Investment Manager
National Futures Association


document_description: This document discusses the implications of ERISA (Employee Retirement Income Security Act) on investments in the Access Fund, particularly focusing on whether the assets of the Access Fund are considered 'plan assets' under ERISA. It outlines the responsibilities of the General Partner and the potential liabilities if the Access Fund's assets are deemed plan assets. It also addresses the reporting requirements for ERISA Plan investors on Form 5500 and advises fiduciaries of ERISA plans to consult legal counsel regarding investments in the Access Fund.

document_subtype: ERISA compliance discussion


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

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

document_date: March 2018

document_subtype: Private Placement Memorandum Supplement

key_organizations: Glendower Capital Secondary Opportunities Fund IV, L.P.


document_description: This document is a supplement to the Confidential Private Placement Memorandum for Glendower Access Secondary Opportunities IV (U.S.), L.P., updating information regarding changes to the terms of the Access Fund. It clarifies that the Access Fund will invest in Glendower Capital Secondary Opportunities Fund IV, LP, and outlines confidentiality and disclosure terms related to tax treatment and structure.

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


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

document_subtype: amendment

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, and the obligations of Limited Partners to fund these expenses.

document_subtype: Partnership Agreement


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

title: Underlying Fund Confidential Private Placement Memorandum


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

key_organizations:
Glendower Capital
Credit Suisse


document_description: This document is an amended and restated confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, detailing an investment opportunity in limited partner interests valued at $1,750,000,000. It is circulated by Glendower Capital LLP to a limited number of qualified prospective investors and is regulated by the UK Financial Conduct Authority. The memorandum outlines the terms of the offering, including the merits and risks involved, and specifies that the interests are available only to professional investors.

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

document_subtype: Private Placement Memorandum

key_organizations:
Glendower Capital LLP
UK Financial Conduct Authority


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

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


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the exemption of Glendower Capital, LLP and the General Partner from registration with the U.S. Commodity Futures Trading Commission (CFTC) under specific regulations. The memorandum is prepared by representatives of the fund and furnished by Credit Suisse as a placement agent. It details the roles and limitations of Credit Suisse in this capacity and advises potential investors to make their own investment decisions. The document also clarifies that Credit Suisse is not acting as an investment adviser or fiduciary and highlights potential conflicts of interest due to Credit Suisse's business relationships.


document_description: The document is a confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the role of Credit Suisse as a placement agent, potential conflicts of interest, and legal notices for investors in New Hampshire and Florida. It also includes a disclaimer about tax advice.

title: Confidential Private Placement Memorandum

key_locations:
New Hampshire
Florida


document_description: Confidential Private Placement Memorandum issued by Glendower Capital (U.S.), LLC, addressed internally to Carlo Pirzio-Biroli and Joshua C. Glaser, and externally to Credit Suisse Asset Management Limited, attention Michael J. Murphy.

title: Glendower Capital Secondary Opportunities Fund IV, LP

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

key_locations: 410 Park Avenue, New York, NY 10022, United States of America

key_locations: 16 Berkeley Street, London, W1J 802, United Kingdom

key_locations: 17 Columbus Courtyard, London, E14 4DA, United Kingdom

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


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes sections on executive summary, investment performance, fund management, risk factors, and legal considerations, among others. Appendices cover notices to investors, privacy, anti-money laundering, key definitions, performance information, and directory of the board of directors.

document_type: tabular

document_subtype: Confidential Private Placement Memorandum


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

document_type: other


document_description: The document is a confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the history and strategy of the fund, including its spin-out from Deutsche Asset Management in 2017. The memorandum highlights the benefits of secondary market investing, such as capitalizing on information asymmetries and mitigating blind pool risk. It also discusses the transition of the secondary market to an institutionalized market with significant transaction volumes and available capital.

key_organizations:
Glendower Capital
Deutsche Asset Management


document_description: The document outlines the investment strategy and objectives of the Glendower Capital Secondary Opportunities Fund IV, LP. It focuses on bespoke liquidity solutions and GP-led secondary deals, emphasizing a distinctive investment strategy based on less competitive transactions, a true value approach, and efficient portfolio management. The strategy includes purchasing mature fund interests at a discount, leveraging relationships with fund sponsors, and solving complex transactions. The document also highlights the past performance and track record of the SOF Team.

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


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

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

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

key_locations:
London
New York

document_subtype: Executive Summary

key_organizations:
Glendower Capital
Deutsche Asset Management
Deutsche Bank


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

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


document_description: The document provides an overview of the investment performance of the Glendower Capital Secondary Opportunities Fund IV, LP, highlighting strong buyout-like returns with a 1.5x Net Multiple and a 23% Net IRR. It includes detailed performance metrics for various funds within the program as of September 30, 2017.

key_locations:
North America
Europe
Asia

document_subtype: Investment Performance Report


document_description: The document provides a performance analysis of the Glendower Capital Secondary Opportunities Fund TV, LP, comparing its performance metrics such as Net IRR, DPI, and TVPI against the Cambridge Associates Secondaries Benchmark statistics as of September 30, 2017. It includes detailed tables of performance metrics for various years and benchmarks against vintage peer groups and top quartile buyout funds.

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

document_subtype: investment performance report

key_organizations:
Glendower Capital
Cambridge Associates


document_description: The document provides an analysis of the investment performance of Glendower Capital's Secondary Opportunities Funds (SOF, SOF II, and SOF III). It highlights the consistency in Net Contributed Capital, Net IRR, TVPI, and DPI across different economic cycles. The funds show a peak in Net Contributed Capital below 50% at around 16 quarters from inception, with Net IRR stabilizing 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 a consistent investment strategy since 2006.

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


document_description: This document is a summary of the principal terms for the Glendower Capital Secondary Opportunities Fund IV, LP, as outlined in the Confidential Private Placement Memorandum.

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


document_description: This document provides a summary of the 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

document_subtype: Investment Fund Summary

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


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


document_description: The document outlines the investment strategy for the Glendower Capital Secondary Opportunities Fund IV, LP (SOF IV), which is established as a successor to the SOF Funds. The fund targets a diverse portfolio of investments in the secondary market, including buyout, growth capital, venture capital, special situations, turnaround, mezzanine and distressed opportunities, real estate, and infrastructure assets. It focuses on three types of investments: Fund Secondaries, GP-led Secondaries, and Single Asset Deals, primarily in the U.S. and Europe. The fund aims for risk-adjusted returns in excess of 20% Net IRR.


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 dynamics of the secondary private equity market, focusing on Glendower Capital Secondary Opportunities Fund IV, LP. It includes data on total private equity assets, secondary market volumes, and pricing trends. The document highlights the importance of pricing in secondary market transactions and the factors influencing it, such as fund age and quality. It also notes the role of transaction structuring in pricing outcomes.

document_subtype: financial report

key_organizations:
Glendower Capital
Greenhill


document_description: The document provides an analysis of secondary market pricing trends from 2005 to 2017, highlighting the impact of cash flows, market conditions, and pricing strategies on effective discounts at closing for buyers. It includes a detailed examination of market pricing during overheated periods and crises, and discusses the recovery and stabilization of the market post-2009.

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

document_subtype: financial analysis

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


document_description: The document provides a breakdown of seller composition for Glendower Capital Secondary Opportunities Fund IV, LP in 2017, along with market trends and private equity assets by fund vintage year. It highlights the emergence of traditional secondary buyers and funds-of-funds as sellers, and the significant supply of secondary opportunities in pre-crisis bubble funds.

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

key_organizations:
Glendower Capital
Greenhill Cogent
Preqin


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

key_organizations:
Glendower Capital
Greenhill Cogent
Evercore


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

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


document_description: The document provides an analysis of the competitive environment for secondary market funds, focusing on Glendower Capital's positioning in the mid-sized segment. It discusses the advantages of mid-sized funds in building diversified portfolios and the challenges faced by smaller and larger funds. The document also outlines sourcing strategies for acquiring investments, highlighting the shift in sellers from financial institutions to alternative asset managers and family offices.

title: Glendower Capital Secondary Opportunities Fund Analysis

document_subtype: investment fund analysis

key_organizations:
Glendower Capital
Preqin


document_description: The document outlines the investment strategy and process of the Glendower Capital Secondary Opportunities Fund IV, LP, focusing on mature fund interests with at least 50% drawn. It details the fund's approach to deal origination, screening, investment decision, monitoring, and realisation. The fund targets exclusive or minimally competitive transactions through a network of industry relationships.


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

key_organizations:
Glendower Capital
Glendower SOF Team


document_description: This document is a section of the Confidential Private Placement Memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP, focusing on fund management.

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


document_description: The document provides an overview of Glendower Capital's management of the Glendower Capital Secondary Opportunities Fund N. LP. It details the firm's history, team composition, and investment strategy. Glendower Capital, an independent investment firm, was formed by a team that spun out from Deutsche Asset Management in 2017. The document outlines the management structure, investment team, and investment committee for the fund, as well as the firm's operational processes and office locations.

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

key_locations:
London
New York
UK

key_organizations:
Glendower Capital
Deutsche Asset Management
FCA


document_description: This document is a section from the Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the members of the SOF IV Investment Committee and their professional backgrounds, as well as the roles of Glendower Capital professionals. Key individuals include Carlo Plajo-Biroll, Charles Smith, Adam Graev, Chi Cheung, Emilio Olmos, and Deirdre Davies, all of whom have extensive experience in private equity and investment banking, primarily with Deutsche Bank.

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
Paris
Madrid

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


document_description: This document provides information about the senior team and professionals at Glendower Capital Secondary Opportunities Fund IV, LP. It includes details about their roles, responsibilities, and previous experiences in the finance and investment sectors.

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

key_locations:
New York
South Africa
Milan
London

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


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

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

key_locations:
Cayman Islands
UK
U.S.
Europe

document_subtype: Summary of Terms and Conditions

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


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

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


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 may be suspended or reinstated based on key person involvement. Reinvestment policies allow certain distributions to be added back to unfunded commitments. Key person events can trigger automatic suspension of the investment period, with conditions for reinstatement. Diversification restrictions limit investment percentages in individual deals without committee consent.

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

key_people:
Charles Smith
Carlo Pirzioaroli
Adam Graev
Chi Cheung


document_description: This document outlines the investment restrictions, indebtedness policies, hedging strategies, and profit sharing terms for the Glendower Capital Secondary Opportunities Fund IV, LP. It specifies limits on investment in single funds, primary basis investments, blind pool investments, and real estate-focused investments. It also details borrowing strategies for investment facilitation, expense funding, and leveraging portfolio investments, as well as hedging transactions for risk management. The General Partner's profit share and its calculation during and after the investment period are also described.

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

document_subtype: investment terms


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP, including details on the General Partner's Share, distribution of net proceeds, and applicable points for commitments. It specifies the distribution hierarchy and conditions for partners and special limited partners.


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP, including details on feeder 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 restrictions on successor funds, allocation of investment opportunities, and reporting requirements.

key_organizations:
Glendower Capital
Glendower Capital LLP


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


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on indemnification, removal of the General Partner, amendments to the Fund Partnership Agreement, default provisions, and the term of the fund.

key_people:
General Partner
Manager
Second GP


document_description: Summary of Terms and Conditions for Glendower Capital Secondary Opportunities Fund IV, LP, including details about the depositary and global placement agent.

key_organizations:
Glendower Capital
Aztec Financial Services (UK) Limited
Credit Suisse Asset Management Limited


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

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


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

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

document_subtype: Risk Factors


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


document_description: 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 conditions, financial conditions of tenants, changes in financing terms, and environmental regulations. It also discusses the multiple levels of expenses, contingent liabilities, independent investment strategies of underlying funds, and lack of direct interest for investors.


document_description: This document outlines the risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund W, LP. It highlights the limited ability to negotiate secondary transaction terms, the potential for investments to extend beyond the fund's term, the illiquid nature of investments, restrictions on transfer and withdrawal, and performance risks. The document emphasizes that the fund is suitable only for sophisticated investors who can withstand the potential loss of their entire investment.

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

key_organizations:
Glendower Capital
SOF Funds


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


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

key_organizations:
Glendower Capital
Deutsche Bank


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


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

title: Glendower Capital Secondary Opportunities Fund N. LP - Section 7: Risk Factors


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

document_subtype: investment memorandum


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

key_locations:
United States
United Kingdom

key_organizations:
Glendower Capital
Debevoise & Plimpton LLP


document_description: This document outlines the risk factors associated with investments in the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the potential impact of deflation, currency risks, the status of debt markets, and legal, tax, and regulatory risks on the fund's performance and investors' returns.


document_description: This document outlines the risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses potential regulatory changes, the impact of Brexit, and anti-money laundering compliance requirements. The document highlights uncertainties in the regulatory environment, potential market dislocation due to Brexit, and the need for compliance with anti-money laundering laws.

key_people:
General Partner
Second GP
Manager

key_locations:
UK
European Union


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


document_description: This document is a section from the Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, focusing on conflicts of interest.

title: Glendower Capital Secondary Opportunities Fund IV, LP - Section 8: Conflicts of Interest


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

title: Conflicts of Interest - Glendower Capital Secondary Opportunities Fund IV, LP

key_organizations:
Glendower Capital
Fund Advisory Committee


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


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


document_description: This document is a section of the Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund III, LP, focusing on legal, ERISA, and tax considerations.

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


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

key_locations: England Wales

document_subtype: Private Fund Partnership Agreement


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund N. LP, detailing legal considerations under the Securities Act of 1933. It outlines that the interests will not be registered under U.S. or non-U.S. securities laws and will be offered to accredited investors only. It includes disclosures about past legal issues involving Credit Suisse and Raymond James related to auction rate securities.

key_locations:
New York
Puerto Rico
Virgin Islands
District of Columbia

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


document_description: This document outlines certain legal, ERISA, and tax considerations for the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses exemptions from registration with the U.S. Commodity Futures Trading Commission (CFTC) for the Manager and General Partner, ERISA considerations for fiduciaries of employee benefit plans, and the implications of plan assets under ERISA regulations.

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


document_description: This section of the memorandum discusses legal and tax considerations for investors in the Glendower Capital Secondary Opportunities Fund IV, LP. It covers compliance with ERISA regulations, the 25% Test for Benefit Plan Investors, and the implications for Form 5500 reporting. It also outlines U.S. federal income tax considerations, including partnership treatment and new partnership audit rules under the Bipartisan Budget Act of 2015.

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


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


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

reference_numbers:
Form 8865
Form 926
Form 8938


document_description: This document is a section from the Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It discusses certain legal, ERISA, and tax considerations for investors, including potential penalties for non-compliance with tax laws, U.S. state and local tax implications, and UK tax considerations. The document emphasizes the complexity of tax issues related to partnerships and advises investors to consult with tax advisers.


document_description: This document is a section from the Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It discusses legal, ERISA, and tax considerations, particularly focusing on FATCA and other international disclosure regimes. The document outlines the implications of FATCA, including withholding tax requirements, compliance obligations under the UK FATCA Legislation, and the potential consequences for non-compliant investors. It also covers the Common Reporting Standard and other international tax reporting obligations.

key_locations:
United Kingdom
United States


document_description: This document discusses the tax considerations and withholding tax obligations for investors in the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the potential for foreign tax credits or deductions for taxable investors and outlines the withholding tax procedures. It also notes that tax consequences may differ for investments made through alternative investment vehicles and advises investors to consult their tax advisers.

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


document_description: Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, marked as confidential pursuant to Federal Rule of Criminal Procedure 6(e).


document_description: This document outlines the restrictions and legal requirements for the distribution of the Memorandum and the offer and sale of Interests in certain jurisdictions. It emphasizes the responsibility of investors to comply with applicable laws and regulations in their jurisdiction. Specific notices are provided for residents of the European Economic Area, Denmark, Finland, and Germany, detailing the conditions under which the Memorandum may be distributed and the Interests marketed.

title: Notices to Investors in Specific Jurisdictions

key_locations:
European Economic Area
Denmark
Finland
Germany

document_subtype: notice

key_organizations: Glendower Capital Secondary Opportunities Fund IV, LP


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

key_locations:
The Netherlands
Sweden
United Kingdom
Australia
Bahrain

key_organizations:
Glendower Capital
Finansinspektionen
FCA
Central Bank of Bahrain


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

key_locations:
Brazil
Brunei Darussalam
Canada
Cayman Islands
Chile
China
Colombia

key_organizations: Securities and Insurance Supervisory Authority of Chile

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


document_description: This document is a Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal considerations and restrictions for offering and selling interests in various jurisdictions including Mexico, Monaco, New Zealand, and Oman. The document specifies that the interests must be offered in a manner that constitutes a private offering according to local laws and regulations. It also clarifies that the manager is not licensed to offer financial advice or sell securities in these regions.

key_locations:
Mexico
Monaco
New Zealand
Oman


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

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

key_organizations: Qatar Financial Centre Regulatory Authority


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the terms and conditions for investors, including the possibility of rebates for limited partners, restrictions on offering in Taiwan and the UAE, and legal disclaimers for the USA. The memorandum emphasizes that the fund is not regulated by UAE authorities and that no public offering will occur in the UAE. It advises prospective investors to seek professional advice and to rely on their own examination of the offering.

key_locations:
Switzerland
Taiwan
United Arab Emirates
United States of America

key_organizations: Central Bank of the United Arab Emirates

key_organizations: UAE Securities and Commodities Authority

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

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


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


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

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

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

document_subtype: Privacy Notice

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


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

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

key_organizations:
Glendower Capital LLP
UK Information Commissioner's Office


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

title: Glendower Capital Secondary Opportunities Fund IV, LP - Anti-Money Laundering Considerations

document_subtype: Anti-Money Laundering Policy


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes a table defining various terms related to the fund, such as Depositary Agreement, Deutsche Asset Management, Deutsche Bank, DOL, DPI, ECI, Eligible Investors, ERISA, EU AIF, Exchange Act, FATCA, FCA, Feeder Fund, FFI, Final Admission Date, First Closing, FMV, foreign passthru payments, and FSMA.

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


document_description: This document contains definitions and descriptions related to the Glendower Capital Secondary Opportunities Fund N. LP, including details about the Fund Advisory Committee, Fund Documents, Fund Partnership Agreement, and other related terms.

key_locations:
Cayman Islands
England

key_organizations:
Glendower Capital
Glendower Capital SOF IV (GP) Limited


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines various investment terms and definitions related to the fund, including investment periods, platforms, restrictions, and key persons involved.

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

key_organizations: Organization for Economic Co-operation and Development


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

key_locations:
Cayman Islands
United States
United Kingdom
European Union

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


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

key_organizations:
Glendower Capital
Glendower U.S.
Glendower Capital (U.S.) LLC


document_description: The document is a Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It provides performance information prepared by Deutsche Alternative Asset Management (Global) Limited for the SOF Funds and related transactions. The document discusses the limitations and assumptions of the performance data, including the use of leverage, third-party information, and projected cash flows. It emphasizes that past performance is not indicative of future results and includes forward-looking statements subject to uncertainties.


document_description: Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, aiming to achieve comparable returns as outlined in the memorandum.


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

title: Glendower Capital Secondary Opportunities Fund IV, LP - Appendix 6 Directory

document_subtype: Directory

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


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

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

document_subtype: Limited Partner Subscription Agreement


document_description: Instructions for investors interested in purchasing a limited partner interest in Glendower Access Secondary Opportunities IV (U.S.), L.P. Investors must complete the Subscription Agreement and provide necessary identification documents. Initial capital contributions may be required, and details will be provided by the General Partner.

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

document_subtype: Investment Instructions


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

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

key_organizations: Glendower Access Secondary Opportunities IV GP LLC


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

document_subtype: Investment Agreement


document_description: This document outlines the representations, warranties, and acknowledgments made by an investor in relation to a partnership that is not registered as an investment company under the Investment Company Act of 1940. It includes details on the investor's qualified purchaser status, conflicts of interest, and additional risk factors associated with the investment.

key_organizations:
Partnership
General Partner
Investment Manager
Underlying Fund


document_description: This document outlines the terms and conditions for an investor's capital contribution to a partnership. It includes clauses on full contribution requirements, the investor's review of exhibits, liquidity needs, investment objectives, securities laws compliance, and exemptions from CFTC registration for the General Partner and Investment Manager.

key_organizations: U.S. Commodity Futures Trading Commission (CFTC)


document_description: This document outlines the terms and conditions of an investment agreement between an Investor and a Partnership. It includes clauses on the enforceability of the agreement, the Investor's knowledge and experience, tax considerations, and the status of the Investor as a disregarded entity. The document also addresses the Investor's compliance with U.S. Treasury Regulations to avoid corporate income tax treatment for the Partnership.

document_subtype: Partnership Agreement


document_description: This document outlines the terms and conditions for an investor's purchase of an interest in a partnership. It includes clauses on nominees and custodians, the final form of the agreement, restrictions on general solicitation, and compliance with sanctions and anti-money laundering laws. The investor must ensure compliance with the partnership agreement and provide necessary information to the General Partner.

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

key_organizations: Her Majesty's Treasury of the United Kingdom


document_description: The document outlines compliance requirements related to sanctions and anti-money laundering for investors. It specifies that investors must not be on prohibited lists, from non-cooperative jurisdictions, senior foreign political figures, or foreign shell banks. It also ensures that investments are not derived from sanctioned parties or activities.

document_subtype: legal compliance document

key_organizations:
U.S. government
UK government
OFAC
Financial Action Task Force
Financial Crimes Enforcement Network
U.S. Treasury Department


document_description: The document outlines the legal obligations and representations of an investor in a partnership, focusing on compliance with anti-money laundering laws and sanctions. It specifies that the investor's funds must not be derived from illegal activities and must comply with U.S. and UK laws. The investor must also ensure that no sanctioned parties have an interest in their investment and must conduct due diligence on beneficial owners. The document also details the investor's obligation to inform the General Partner of any inaccuracies in their representations and the potential actions the General Partner may take to ensure compliance.

key_locations:
United States
UK

document_subtype: Subscription Agreement

key_organizations:
Partnership
General Partner


document_description: The document outlines the terms and conditions for an investor in Glendower Capital Secondary Opportunities IV, LP, an English private fund limited partnership. It specifies the investor's lack of direct interest, voting rights, or recourse against the Underlying Fund and its manager. It also details the fees and expenses the investor will incur and includes representations for 'Plan Investors' under ERISA and the Internal Revenue Code.

document_subtype: investment agreement


document_description: This document outlines the terms and conditions of an investment management agreement involving an Investor and an Investor Fiduciary. It details the understanding and consent of the Investor Fiduciary regarding the risks, fees, and conflicts of interest associated with the investment in the Partnership. The document also confirms that the Investor Fiduciary is not affiliated with any entity receiving compensation from the Partnership and that no fees are paid to iCapital or its affiliates for investment advice. Additionally, it ensures that the execution of the agreement does not violate any governing documents or laws applicable to the Investor.


document_description: This document outlines the responsibilities and qualifications of an Investor Fiduciary in relation to the purchase of an Interest under ERISA and the Code. It specifies the fiduciary's independence, authority, and compliance with diversification and prohibited transaction rules.

document_subtype: fiduciary agreement


document_description: This document outlines the terms and conditions for the closing and capital contributions related to the sale and purchase of an interest in a partnership. It includes agreements with other limited partners, representations and warranties of the partnership and the general partner, and details on governmental and regulatory approvals required for the transaction.

key_organizations:
Partnership
General Partner
Investment Manager
U.S. Securities and Exchange Commission


document_description: This document is an investment agreement outlining the terms and conditions for an investor's participation in a partnership. It includes representations and warranties by the investor, requirements for additional information, indemnity clauses, and conditions related to compliance with regulatory requirements such as Rule 506 under the Securities Act. The agreement also addresses the handling of capital contributions and distributions through a financial advisor account and the potential consequences of closing such an account.

key_organizations:
Partnership
General Partner
Investment Manager
Underlying Fund Manager


document_description: Acknowledgement of receipt and review of the Supplement to the Private Placement Memorandum, detailing fees related to an investment. Includes acknowledgment of an upfront placement fee and agreement to terms as a Limited Partner in the Partnership.

document_subtype: Fee Acknowledgement


document_description: A form for prospective investors to complete, indicating whether they are investing as an individual or entity, and whether they are a U.S. person. The form requires personal or entity information such as type, address, and tax identification number, but all fields are currently empty.

document_subtype: investment form


document_description: The document contains information related to an individual named Greg Martin, including fields for employment status, employer, occupation, and tax year end, all of which are empty. It also includes a section regarding FOIA Partner status, with options for Yes or No, and references to a specific section of an agreement for the definition of 'FOIA Partner'. The document is marked as proprietary and confidential.


document_description: This document is a General Partner Signature Page for Glendower Access Secondary Opportunities IV GP LLC, indicating acceptance of a subscription for a net amount of interest. The document is proprietary and confidential.

document_subtype: General Partner Signature Page


document_description: Wire instructions for initial capital contribution and distributions for a partnership investment. The document outlines the need for the investor to provide bank account details for distributions and specifies the requirement for the account to match the investor's name. It also requests information on the source of funds for the investment.

document_subtype: wire instructions


document_description: The document contains placeholders for names, relationships, emails, and phone numbers, but all fields are empty. It is marked as proprietary and confidential, with references to confidentiality under Federal Rules of Criminal Procedure.


document_description: This document is an investor status form for individuals, where the investor represents and warrants their financial status, including net worth, income levels for 2016 and 2017, and investment ownership. The form is proprietary and confidential.

document_subtype: Investor Status Form


document_description: This document is an investment questionnaire for investors to disclose if they are investing assets from retirement or employee benefit plans subject to Section 4975 of the U.S. Internal Revenue Code. It includes questions about the percentage of assets from such plans and whether the investor is subject to other laws that could affect the partnership's assets.

document_subtype: investment questionnaire

key_organizations: Employee Retirement Income Security Act of 1974 (ERISA)


document_description: The document appears to be related to investment criteria for employee benefit plans and entities with accredited investors. It references the Employee Retirement Income Security Act of 1974 and outlines conditions under which a plan or entity qualifies based on asset size and decision-making authority.


document_description: This document outlines the criteria under which an investor is considered a 'qualified purchaser' under the Investment Company Act. It provides a checklist for entities such as companies, partnerships, or trusts to determine their qualification based on ownership and investment criteria.

title: Exhibit D - Investment Company Act Representations

document_subtype: Investment Company Act Representations


document_description: This document is an investment questionnaire for an investor entity, assessing its status under the Investment Company Act and its investment structure. It includes questions about the investor's classification, beneficial ownership, and investment purpose.

key_organizations: Investor Partnership


document_description: A questionnaire for an investor to disclose information about their investment commitments, ultimate beneficiaries, and regulatory status.

document_subtype: questionnaire


document_description: This document outlines representations and warranties applicable to 'Plan Investors' under ERISA and the Internal Revenue Code. It includes a checklist for investors to confirm their status as employee benefit plans, governmental plans, or church plans, and their compliance with relevant legal definitions and requirements.

title: Plan Investor Representations

document_subtype: Investor Representation


document_description: This document is an investment agreement exhibit related to a Plan Investor's status and representations regarding their investment in a partnership. It includes questions about the investor's status as an employee benefit plan and their ability to self-direct investments. It also contains representations and warranties made by the investor regarding the independence of their investment decision-making and compliance with governing laws.

key_organizations:
General Partner
Administrator
iCapital
Partnership


document_description: This document is a privacy notice from Institutional Capital Network, Inc. and its affiliates, iCapital Advisors, LLC and iCapital Securities, LLC, regarding the collection and disclosure of nonpublic personal information of investors. It outlines the types of information collected, the entities it may be disclosed to, and the measures taken to protect this information. The notice complies with Regulation P, 12 C.F.R. 1016, adopted by the Consumer Financial Protection Bureau.

title: Notice Regarding Privacy of Financial Information

document_subtype: notice

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


document_description: The document provides confidential information about the Glendower Access Secondary Opportunities Fund IV (U.S.), L.P. and its investment strategy into the Glendower Capital Secondary Opportunities Fund IV LP. It outlines the terms, structure, fees, and reporting requirements for both the Access Fund and the Underlying Fund. The document is intended for informational purposes only and is not an offer to sell or buy securities.

key_locations: Delaware English

document_subtype: Confidential Information Document

key_organizations: Glendower Access Secondary Opportunities IV GP LLG


document_description: The document is an informational presentation about the Glendower Access Secondary Opportunities IV (U.S.), LP and the associated Underlying Fund. It outlines the fees, expenses, and performance compensation associated with investing in the Access Fund, as well as the risks and conditions of such investments. The document emphasizes that the information is not legal, tax, or investment advice and highlights the importance of the Private Placement Memorandum for detailed information.

document_subtype: investment presentation

key_organizations:
Glendower Capital
iCapital Advisors
DBSI


document_description: This document outlines the offering for Glendower Capital Secondary Opportunities Fund IV, LP, a private equity secondary fund. It includes details about the fund's formation, strategy, track record, and key terms. The fund aims to raise US$1.75 billion and has a strong performance history with a focus on globally diversified portfolios and value creation through fundamental analysis.

title: Glendower Capital Secondary Opportunities Fund IV, LP Offering

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

key_locations:
London
New York

document_subtype: Investment Offering Document

key_organizations:
Glendower Capital
Deutsche Asset Management


document_description: This document is a confidential report related to Glendower Capital SOF IV, L.P., detailing the formation and performance of various funds under Glendower Capital LLP. It includes performance figures, fund structures, and key definitions related to the investment strategies and benchmarks as of September 30, 2017.

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

key_locations:
North America
Europe
Asia

document_subtype: report

key_organizations: United Kingdom Financial Conduct Authority


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

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

document_subtype: confidential presentation

key_organizations:
Glendower Capital LLP
Mirabella Advisers LLP
Credit Suisse Asset Management Limited


document_description: This document is a confidential investment presentation for Glendower Capital SOF IV, L.P. It includes forward-looking statements, performance information, and track record details of the Glendower SOF Team, which spun off from Deutsche Bank in 2017. The document emphasizes the risks and lack of liquidity associated with investing in the Fund, suitable only for sophisticated investors. It also outlines the calculation methodologies for investment returns and the responsibilities of Glendower and Deutsche Alternative Asset Management regarding performance information.

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

key_organizations: Deutsche Alternative Asset Management (Global) Limited


document_description: This document contains legal disclaimers for various countries regarding the distribution and offering of financial products by Glendower Capital SOF IV, L.P. It specifies the legal conditions under which the products can be marketed and sold in Colombia, France, Guernsey, Haiti, Hong Kong, Israel, and Japan. The document emphasizes that the presentation is not an offer to sell or solicitation of an offer to buy any securities in jurisdictions where such actions would be unlawful.

key_locations:
Colombia
France
Guernsey
Haiti
Hong Kong
Israel
Japan

document_subtype: legal disclaimer

key_organizations: Securities and Futures Commission of Hong Kong

key_organizations: Credit Suisse Securities (Japan) Limited


document_description: This document contains legal disclaimers for various countries regarding the distribution and offering of securities by Glendower Capital SOF IV, L.P. It specifies the legal restrictions and conditions under which the document can be distributed in countries like Malaysia, Mexico, Monaco, New Zealand, Oman, Qatar, Saudi Arabia, Singapore, South Korea, and Switzerland.

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

key_organizations:
Glendower Capital SOF IV, L.P.
Credit Suisse
Hugo Fund Services SA
Banque Cantonale de Genève


document_description: This document contains legal disclaimers for Glendower Capital SOF IV, L.P., addressing potential investors in St. Kitts and Nevis, UAE/Abu Dhabi/Dubai, and the United States. It outlines the non-registration of the fund with regulatory authorities in these regions and emphasizes the risks involved in investing, including the potential loss of the entire investment. The document also specifies that the fund's interests are not publicly offered and are subject to restrictions on transferability and resale.

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

document_subtype: Legal Disclaimer

key_organizations: Financial Services Regulatory Commission


document_description: Supplemental disclosure by Deutsche Bank Securities Inc. and Deutsche Bank Trust Company Americas regarding investment risks and disclaimers for a fund. It emphasizes the importance of independent assessment of transactions and clarifies that securities are not insured by FDIC or guaranteed by Deutsche Bank. It also mentions potential compensation arrangements and authorizes disclosure of transaction structure and tax aspects.

document_subtype: Supplemental Disclosure

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


document_description: This document is a confidential investment overview for Glendower Access Secondary Opportunities IV (U.S.), L.P., intended for investment professionals and qualified investors.

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

document_date: April 2018

document_subtype: investment overview


document_description: This document is a presentation for informational and discussion purposes regarding Glendower Capital Secondary Opportunities Fund IV, LP and Glendower Access Secondary Opportunities IV (U.S.), L.P. It is not legal, tax, or investment advice and should not be relied upon as such. The presentation emphasizes the importance of consulting the Offering Memorandum for detailed information and risk disclosures. It highlights the high-risk nature of the investment, potential conflicts of interest, and the possibility of capital loss. The document is strictly confidential and intended for investment professionals and qualified investors only.

document_subtype: presentation


document_description: The document provides important information about the Access Fund, highlighting the risks and characteristics of alternative investments. It discusses the speculative nature, potential risks, and fees associated with such investments, and clarifies the relationship between purchasers of interests and the Access Fund versus the Underlying Fund.

document_subtype: investment information

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


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

title: Additional Disclosures Regarding Certain Risk Factors

document_subtype: disclosure document

key_organizations:
Securities and Exchange Commission
iCapital Network


document_description: This document outlines the key terms for investors in the Access Fund, including fees, expenses, and performance compensation. It highlights the differences in returns for investors in the Access Fund versus direct investors in the Underlying Fund. It also details the management fee structure, calculation basis for fees, and options for investors with large subscriptions.

title: Summary of Key Terms for Access Fund

document_subtype: summary

key_organizations:
DBSI
iCapital Advisors
Glendower Capital, LLP


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

document_subtype: investment fund document


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

title: Confidential Presentation by Glendower Capital


document_description: Explanation of secondary private equity investments, including their nature, market development, and types of transactions involved.

document_subtype: memo


document_description: The document discusses the benefits of secondary private equity investing, highlighting the attractiveness of secondary opportunities. It outlines the advantages such as earlier cash flows, pricing flexibility, mitigation of blind pool risk, and complementing portfolio construction. The document includes a hypothetical graph illustrating the timing of secondary transactions and cumulative cash flows.

title: Benefits of Secondary Private Equity Investing

document_subtype: financial analysis


document_description: The slide provides an analysis of the secondary private equity market, highlighting strong market conditions with US$58 billion in deal volume in 2017. It discusses stable pricing, the growth of GP-led deals, and the steady supply of tail-end funds. The slide is part of Glendower's presentation on the secondary market update.

title: Why invest in secondary private equity today?

document_subtype: presentation slide


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

title: Glendower Capital Document


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

title: Glendower Capital Secondary Opportunities Fund IV, LP Overview

key_locations:
United States
Europe

document_subtype: Investment Fund Overview


document_description: Overview of Glendower Capital, an investment team active in the secondary market since 2003. The document provides a glance at the team's history, structure, and achievements, including their spin-off from Deutsche Bank in 2017 and their growth in assets and team size.

title: Glendower Capital Overview

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

key_organizations:
Glendower Capital
Deutsche Bank


document_description: This document provides an overview of the Glendower Capital team, listing core members and their years of experience. It includes details about their previous affiliations, educational background, and roles within the company.

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

key_locations:
London
New York
Rome
Cambridge
South Africa
Paris
Madrid
Milan
Chicago

document_subtype: team overview

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


document_description: The document provides a performance summary of various SOF funds managed by Glendower Capital as of September 30, 2017. It includes details on fund size, transactions, gross and net multiples, IRR, and net distributed capital. The performance figures are unaudited and should be reviewed with additional information provided in the presentation.

title: SOF Funds Performance as of September 30, 2017

document_subtype: financial report


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

title: SOF Funds vs Cambridge Associates' Secondary Funds Performance

document_subtype: financial performance report

key_organizations:
Glendower Capital
Cambridge Associates


document_description: The document provides a financial performance report comparing SOF Funds to the Cambridge Associates buyout top-quartile benchmark. It includes metrics such as TVPI, DPI, and Net IRR for various SOF funds across different vintage years. The report highlights the performance of SOF, SOF D, SOF II, and SOF III funds, showing their returns in relation to the top-quartile buyout funds.

key_organizations:
SOF Funds
Cambridge Associates
Glenclover SOF Team
Glendower Capital


document_description: The document compares the performance of SOF Funds to major public market indices as of September 30, 2017. It includes a table showing the Glendower Net IRR for various SOF Funds against indices like MSCI World, Russell 2000, and Thomson Reuters. The document emphasizes that past performance is not indicative of future results and provides a methodology for performance calculation.

title: SOF Program Performance Comparison

document_subtype: performance report


document_description: This document contains an introduction, details about Glendower Investment Strategy, a secondary market update, updates on SOF III and IV, key terms for Glendower Capital Secondary Opportunities Fund IV, and an appendix.

title: Glendower Capital Document


document_description: The document outlines Glendower's distinctive investment strategy, focusing on disciplined bottom-up underwriting of attractive assets managed by quality managers. It describes a four-quadrant strategy: sourcing less competitive deals globally, pursuing a selective value approach, buying with a margin of safety, and focusing on efficient portfolio construction. The strategy emphasizes value creation through fundamental analysis, purchasing mature fund interests at a discount, and diversifying the portfolio to mitigate risks.

title: Glendower Investment Strategy

document_subtype: investment strategy document


document_description: The document outlines a disciplined barbell approach to investment, adjusting deal types relative to market cycles. It includes details on fund secondaries, GP-led secondaries, and single asset deals, with expected returns and market conditions.

document_subtype: investment strategy presentation


document_description: The document discusses GP-led transactions and their evolution over the years, highlighting the advantages they offer over traditional LP interest acquisitions. It emphasizes the proactive role of quality managers in providing liquidity options and the benefits of in-depth due diligence and bespoke fund design. Glendower Capital's track record and performance metrics are also mentioned.


document_description: The document outlines Glendower Capital's rigorous sourcing and deal selection process, highlighting their extensive industry network, proactive approach, and significant experience in GP-led and Single Asset Deals. It includes details on their investment strategy, specialized experience, and transaction outcomes.

title: Glendower Capital Investment Summary

document_subtype: Investment Summary

key_organizations:
Glendower Capital
DB Wealth Management
Raymond James
Alex Brown


document_description: This document contains sections on Glendower Investment Strategy, Secondary Market Update, SOF III and IV Update, and Glendower Capital Secondary Opportunities Fund IV Key Terms. It is marked as strictly confidential and is related to Glendower Capital.

title: Glendower Capital Document


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

title: Secondary Market Volume Analysis

document_subtype: market analysis

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


document_description: The document provides an analysis of the secondary market driven by global private equity (PE) market growth and increased trading propensity. It includes data on total PE assets, unrealized portfolio value, dry powder, and annual secondary volumes as a percentage of total PE assets from 2007 to 2017.


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

title: Secondary Market Pricing Analysis

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