document_description: This document provides biographies of key team members at Southern Financial LLC, detailing their roles, previous experience, and educational background. The team includes Victoria Loidl, Elena Smirnova, Jonathan Roome, and Douglas O'Connell, all of whom have experience in Deutsche Bank and other financial institutions.

title: Team Bios for Southern Financial LLC

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

key_organizations: Carnegie Mellon's Tepper School of Business


source: doj

document_description: Team bios for Southern Financial LLC, featuring key personnel from Glendower Capital. Includes professional backgrounds and educational qualifications of Rafael Enriquez-Hesles, Sheldon Lee, Katherine Weaver, and Louise Schoeman.

key_people:
Rafael Enriquez-Hesles
Sheldon Lee
Katherine Weaver
Louise Schoeman

document_type: correspondence

key_locations: Ecole Nationale Supérieure des Mines de Nancy

document_subtype: team bios

key_organizations:
Southern Financial LLC
Glendower Capital
Stifel
Citibank
Deutsche Bank
Brookfield Properties
Deloitte & Touche
London Air Ambulance
Grant Thornton


document_description: This document provides a summary of the investor base for SOF III, including key information about the fund size, investor regions, types, and sizes of individual commitments.

title: SOF III Investor Base Summary

document_type: tabular

document_subtype: financial summary

key_organizations:
Southern Financial LLC
Deutsche Bank
Glendower Capital


document_description: This document provides a detailed summary of various financial transactions managed by Southern Financial LLC as of September 30, 2017. It includes information on project names, sourcing, seller types, deal types, funds, invested and funded capital, initial closing dates, gross multiples, and portfolio details.

title: Overall transaction summary as of September 30, 2017

key_organizations:
Southern Financial LLC
Glendower Capital


document_description: The document provides a breakdown of the gross invested capital for Southern Financial LLC's SOF II portfolio as of September 30, 2017. It includes details on investment strategy, asset geography, sector composition, and vintage year distribution. The fund size is US$614m with a gross invested capital of 668m. The total net return is US$779m with a 1.53x multiple and a 20% return rate. The document also outlines the regional and sectoral allocation of investments.

title: SOF II — Portfolio construction

document_subtype: financial report


document_description: This document is a financial summary of transactions by Southern Financial LLC as of September 30, 2017. It includes details of various projects, their sourcing, seller types, deal types, funds, companies involved, invested and funded capital, initial closing dates, gross multiples, and portfolio details.


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

title: Remaining portfolio construction by FMV1 as of September 30, 2017


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


document_description: This document is a confidential presentation by Glendower Capital, LLP, providing summary information about existing and future funds managed by Glendower, specifically the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the nature of the presentation, disclaimers about the information provided, risks associated with the investment, and the role of Credit Suisse as the Fund's placement agent. The document emphasizes the confidentiality of the information and the need for prospective investors to consult offering documents for detailed information.

key_people:
Glendower Capital, LLP
Credit Suisse Asset Management Limited

document_subtype: confidential presentation

key_organizations: United Kingdom Financial Conduct Authority


document_description: This document is a presentation by Glendower Capital regarding an investment fund managed by Southern Financial LLC. It outlines the fund's investment strategy, potential risks, and disclaimers about forward-looking statements. The presentation emphasizes that past performance is not indicative of future results and that no assurances are given regarding the achievement of investment objectives or returns. It also highlights the high risks and lack of liquidity associated with the fund, making it suitable only for sophisticated investors.

document_type: financial

document_subtype: investment presentation

key_organizations:
Southern Financial LLC
Glendower Capital
Credit Suisse


document_description: The document provides key definitions related to investment terms used by Southern Financial LLC, including 'Single Asset Deal', 'Fund Secondary', 'GP-led Secondary', and various fund names such as 'SOF', 'SOF D', 'SOF II', and 'SOF III'. It also defines financial indices like the 'Russell 2000 Index', 'MSCI World Index', and 'Thomson Reuters Private Equity Buyout Index'.

document_subtype: definitions

key_organizations:
Southern Financial LLC
Glendower Capital
FTSE Russell
London Stock Exchange Group
Thomson Reuters


document_description: The document provides important information on the track record and investment performance of the Glendower SOF Team, which spun off from Deutsche Bank in August 2017 to form Glendower Capital LLP. It includes details on the investment committee members, performance metrics such as Gross IRR and Net IRR, and valuation methodologies for unrealized investments. The document also discusses target returns and the assumptions underlying them, emphasizing that actual returns may differ from projections.

title: Notes to Investment Performance

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

document_subtype: Investment Performance Notes

key_organizations: Deutsche Alternative Asset Management (Global) Limited


document_description: This document provides important information for recipients in certain jurisdictions regarding the distribution and offering of interests in a fund managed by Southern Financial LLC. It includes notices for residents of the European Economic Area, Australia, Bahrain, and Brazil, outlining the legal and regulatory considerations for offering the fund in these regions.

key_locations:
European Economic Area
Australia
Bahrain
Brazil

key_organizations:
Southern Financial LLC
Credit Suisse Group
Credit Suisse AG, Sydney Branch
Central Bank of Bahrain
Brazilian Securities Commission


document_description: This document is an informational presentation by Southern Financial LLC, outlining restrictions and legal considerations for recipients in various jurisdictions including Brunei, Canada, Cayman Islands, Chile, China, Colombia, France, Guernsey, and Haiti. It specifies that the presentation is not an offer or invitation to the public and highlights the need for compliance with local laws and regulations.

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

document_subtype: informational presentation

key_organizations:
Southern Financial LLC
Autoriti Monetan Brunei Darussalam
Registrar of Companies
Superintendence of Finance of Colombia
Guernsey Financial Services Commission
States of Guernsey Policy Council


document_description: This document is an investment memorandum from Southern Financial LLC, providing important information for recipients in Hong Kong and Israel. It outlines the legal restrictions and conditions under which investment products can be offered in these jurisdictions, emphasizing that the memorandum has not been approved by the respective securities authorities. It specifies the types of investors eligible to receive the information and the conditions under which they can invest, highlighting the need for investors to confirm their status as 'Sophisticated Investors.' The document also stresses that it does not constitute investment advice or an offer to sell securities unlawfully.

key_locations:
Hong Kong
Israel

document_subtype: investment memorandum

key_organizations: Securities and Futures Commission of Hong Kong


document_description: This document provides legal disclaimers and information for recipients in various jurisdictions including Japan, Malaysia, Mexico, Monaco, New Zealand, and the Sultanate of Oman. It outlines the legal restrictions and conditions under which financial products and securities may be offered or sold in these regions.

key_locations:
Japan
Malaysia
Mexico
Monaco
New Zealand
Sultanate of Oman

document_subtype: legal disclaimer

key_organizations: Credit Suisse Securities (Japan) Limited

key_organizations: Type II Financial Instruments Firms Association

key_organizations: National Banking and Securities Commission

key_organizations: Commission de Contrôle des Activités Financières

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

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

reference_numbers: Capital Market Law of Oman (Royal Decree 80;913i)


document_description: This document provides important information for recipients in various jurisdictions regarding the offering of interests in a fund by Southern Financial LLC. It outlines specific conditions and disclaimers for recipients in Qatar, Saudi Arabia, Singapore, South Korea, and Switzerland, emphasizing the non-public nature of the offer and the need for independent investigation of risks. It also details the roles of the representative and paying agent in Switzerland.

key_locations:
Qatar
Saudi Arabia
Singapore
South Korea
Switzerland
Geneva

document_subtype: promotional document

key_organizations:
Southern Financial LLC
Qatar Central Bank
Capital Market Authority
Monetary Authority of Singapore
Financial Services Commission
Credit Suisse
Banque Cantonale de Genève
Glendower Capital


document_description: This document is a presentation by Southern Financial LLC regarding investment opportunities in a fund. It outlines the legal and regulatory considerations for potential investors in St. Kitts and Nevis, UAE/Abu Dhabi/Dubai, and the United States. The presentation emphasizes that the fund is not registered with any regulatory authority in these jurisdictions and highlights the risks involved in investing, including the potential loss of the entire investment. It also notes that the fund will not be registered under the Securities Act or as an investment company under the Investment Company Act.

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

key_organizations: Financial Services Regulatory Commission


document_description: Supplemental disclosure document by Deutsche Bank Securities Inc. and Deutsche Bank Trust Company Americas, acting as solicitation agents for a fund. It includes disclaimers about the accuracy of information, risks of securities, and lack of guarantees. 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
Deutsche Bank


document_description: This document is a brochure providing information about the qualifications and business practices of iCapital Advisors, LLC, registered as an investment adviser with the SEC. It includes contact and filing information, and clarifies that SEC registration does not imply endorsement or guarantee of expertise.

title: iCapital Advisors, LLC Form ADV Part 2A

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

document_subtype: Form ADV Part 2A

key_organizations: United States Securities and Exchange Commission


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

title: iCapital Advisors, LLC Form ADV Part 2A

key_organizations:
iCapital Advisors, LLC
Fidelity Brokerage Services LLC
Deutsche Bank
iCapital Securities, LLC


document_description: The document is a Form ADV Part 2A for iCapital Advisors, LLC, detailing their investment advisory services. It lists various Private Access Funds and Direct Investment Funds managed by iCapital, which are exempt from registration under the Investment Company Act of 1940 and the Securities Act of 1933. iCapital provides investment advice to these funds, primarily by identifying private equity or hedge fund managers for investment. The document also mentions the use of confidential private placement memorandums (PPMs) for each fund.

key_organizations: Private Equity Global Select Master Fund

key_organizations: Opportunistic Real Estate and Infrastructure Select Fund

key_organizations: iCapital-OrbiMed Royalty Opportunities II Access Fund

key_organizations: iCapital-Apollo Structured Credit Recovery Access Fund

key_organizations: iCapital-Warburg Pincus Private Equity XII Access Fund

key_organizations: Royalty Investment Fund Limited Partnership


document_description: The document is a Form ADV Part 2A for iCapital Advisors, LLC, detailing investment strategies, management fees, and assets under management. It includes information about various funds managed by iCapital and their investment guidelines. The document also outlines the management fee structure and lists specific funds with their values as of September 30, 2017.

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


document_description: The document outlines the management and investor servicing fees associated with iCapital Advisors, LLC, including details on payments to underlying managers and service providers. It also discusses the organizational expenses each fund will bear.

key_organizations:
iCapital Advisors, LLC
Southern Financial LLC
Dynasty Securities, LLC


document_description: This document outlines the expenses related to the formation and operation of the Private Access Fund and Direct Investment Funds managed by iCapital Advisors, LLC. It details various costs including management fees, organizational expenses, taxes, and other operational costs. The document also mentions the responsibilities of limited partners in bearing certain costs indirectly.

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

key_organizations:
iCapital Advisors, LLC
Southern Financial LLC


document_description: The document outlines the financial and operational expenses related to Direct Investment Funds managed by iCapital Advisors, LLC. It details the types of fees and expenses borne by the funds, including performance-based fees, management fees, and other investment-related expenses. It also describes the types of clients iCapital serves, the minimum investment commitments, and the possibility of side agreements with investors.

key_organizations:
Southern Financial LLC
iCapital Advisors, LLC


document_description: The document is a Form ADV Part 2A from iCapital Advisors, LLC, detailing their investment strategies and due diligence processes. It outlines the methods of analysis, investment strategies, and risk of loss associated with their Private Access Funds and Direct Investment Funds. The document describes iCapital's bottom-up diligence approach for selecting fund managers and sub-advisers, focusing on both qualitative and quantitative assessments.

document_subtype: investment document


document_description: The document outlines the due diligence process of iCapital Advisors, LLC for assessing investment opportunities, particularly in hedge funds. It describes a multi-stage evaluation process that includes market opportunity assessment, manager identification, initial diligence, deep dive diligence with the assistance of Castle Hall Alternatives Inc., and final approval by iCapital's Investment Committee. The document emphasizes the importance of a unanimous vote by the Investment Committee for any investment to be marketed.

key_organizations:
iCapital Advisors, LLC
Castle Hall Alternatives Inc.


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

document_subtype: investment advisory document


document_description: The document is a Form ADV Part 2A from iCapital Advisors, LLC, discussing the risks and conflicts of interest associated with investing in Private Access Funds. It highlights potential issues such as lack of diversification, higher fees, illiquidity, and the possibility of losing the entire investment. The document also outlines the relationship between Private Access Funds and Underlying Funds, including the lack of control over management strategies and the potential for sponsor misconduct.


document_description: The document outlines the terms and conditions related to capital contributions by investors to Private Access Funds managed by iCapital Advisors, LLC. It details the responsibilities of investors, potential penalties for non-compliance, and the lack of direct rights or recourse against the Underlying Fund. It also discusses the non-obligation of iCapital to provide investment advice or manage the funds exclusively.


document_description: The document outlines the financial and tax implications for investors in Private Access Funds managed by iCapital Advisors, LLC. It discusses the potential tax liabilities, the illiquidity of investments, economic and market risks, and the consequences of default on capital contributions. Investors may need to return distributions to meet indemnification obligations and may face tax liabilities exceeding cash distributions. The document also highlights risks associated with economic conditions and the illiquidity of private equity fund investments.

title: iCapital Advisors, LLC Form ADV Part 2A


document_description: The document outlines the terms and conditions related to capital contributions, default scenarios, and the legal structure of series limited partnerships for iCapital Advisors, LLC. It discusses the implications of investor defaults, the legal protections under the Delaware Act for series limited partnerships, and the reliance on sub-advisers for fund management.


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


document_description: The document discusses investment strategies and risks associated with investing in non-U.S. securities, including American Depositary Receipts (ADRs), European Depositary Receipts (EDRs), and Global Depositary Receipts (GDRs). It highlights the risks of investing in emerging markets and the impact of foreign currency fluctuations on investments.


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

key_organizations:
iCapital Advisors LLC
Southern Financial LLC


document_description: The document discusses various investment risks associated with funds managed by iCapital Advisors, LLC. It highlights risks related to settlement delays, investments in small or medium-sized companies, liquidity of investments, convertible securities, and participation certificates. The document emphasizes the potential for increased volatility, liquidity issues, and counterparty risks.


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


document_description: The document discusses various financial risks associated with investment funds managed by iCapital Advisors, LLC. It covers the risks of derivatives, warrants, stock purchase rights, and debt securities, including high yield securities or 'junk bonds.' The document highlights the speculative nature of these investments and the potential for high volatility and loss.


document_description: The document discusses various financial risks associated with investments, including default risk, interest rate risk, extension risk, prepayment risk, and risks related to swaps. It highlights the potential for greater price volatility and liquidity issues with lower-rated bonds, the impact of interest rate changes on debt instruments, and the complexities of swap transactions.

title: iCapital Advisors, LLC Form ADV Part 2A


document_description: The document is a Form ADV Part 2A for iCapital Advisors, LLC, detailing investment strategies, risks, and affiliations. It discusses the risks associated with investing in Real Estate Investment Trusts (REITs) and cybersecurity risks for private equity funds. It also provides information on disciplinary history, financial industry activities, and affiliations, including iCapital Securities, LLC and Gen II Fund Services, LLC.

title: iCapital Advisors, LLC Form ADV Part 2A

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


document_description: The document outlines the relationships and potential conflicts of interest involving iCapital Advisors, LLC, its parent company Institutional Capital Network, Inc., and various financial institutions such as BNY Capital Corporation, BlackRock, Credit Suisse, Morgan Stanley, and UBS. It also discusses iCapital's Code of Ethics, which aims to prevent conflicts of interest and insider trading.

key_organizations:
iCapital Advisors, LLC
Institutional Capital Network, Inc.
BNY Capital Corporation
BlackRock, Inc.
Credit Suisse Group AG
Morgan Stanley Smith Barney
UBS Financial Services


document_description: The document outlines the Code of Ethics for iCapital Advisors, LLC, detailing employee investment restrictions, conflicts of interest, and compensation structures. Employees must obtain authorization for personal investments and are discouraged from frequent trading. iCapital may waive fees for employees and affiliates. The document also discusses potential conflicts of interest due to compensation from fund managers and the role of placement fees.

title: iCapital Advisors, LLC Form ADV Part 2A

key_organizations:
iCapital Advisors, LLC
iCapital Securities, LLC
Southern Financial LLC


document_description: The document outlines potential conflicts of interest, fee structures, valuation methods, educational programs, and privacy policies related to iCapital Advisors, LLC and its affiliates. It discusses management fees for brokerage limited partners, conflicts of interest in fund valuations, and educational programs for financial advisers. The privacy policy emphasizes confidentiality and security of investors' personal information.

title: iCapital Advisors, LLC Form ADV Part 2A

key_organizations:
iCapital Advisors, LLC
iCapital Securities
Institutional Capital Network


document_description: The document outlines iCapital Advisors, LLC's brokerage practices, review of accounts, and client referrals and compensation policies. It details the selection criteria for brokers, the review process for fund performance, and the compensation structure for client referrals.


document_description: The document outlines iCapital Advisors, LLC's financial arrangements and policies, including management fees, collaboration with Fidelity Brokerage Services LLC, custody of client funds, and investment discretion. It details compensation arrangements with broker-dealers and registered investment advisors, custody rules for fund-of-funds, and investment guidelines.

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


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


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

title: FORM ADV PART 2B: Brochure Supplement

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

document_type: other

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

document_subtype: Brochure Supplement


document_description: This document provides the educational background, business experience, and other relevant information about Eileen Duff Blalock, a member of iCapital Advisor's investment committee. It includes details about her role, previous experience, and supervisory arrangements.

title: Form ADV Part 2B for Eileen Duff Blalock

key_people:
Eileen Duff Blalock
Michael Stanton

document_subtype: Form ADV Part 2B

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


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

title: Form ADV Part 2B for Phil Pool

key_people:
Phil Pool
Michael Stanton

key_locations:
London
New York
Chicago

key_organizations: Donaldson, Lufkin & Jenrette Securities Corporation


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

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

key_people:
John C. Robertshaw
Michael Stanton

key_organizations:
iCapital Advisors LLC
iCapital Network
Credit Suisse Securities (USA) LLC
Donaldson, Lufkin & Jenrette
Salomon Brothers


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

title: Form ADV Part 2B for Daniel Vene

key_people:
Daniel Vene
Michael Stanton

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


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

title: Form ADV Part 2B for Nicholas Veronis

key_people:
Nicholas Veronis
Michael Stanton

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


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

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

document_type: legal

document_subtype: Limited Partnership Agreement


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

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


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

document_subtype: Amended and Restated Limited Partnership Agreement


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

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


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes various provisions related to tax reporting, power of attorney, execution of additional documents, confidentiality, arbitration, and more. The document is marked as confidential and proprietary.


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

key_people:
General Partner
Initial Limited Partner

key_organizations: Glendower Access Secondary Opportunities IV GP LLC


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

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


document_description: This document is an excerpt from a Limited Partnership Agreement for Southern Financial LLC. It outlines the obligations and rights of Limited Partners, including the effects of death, dissolution, or bankruptcy on a partner's rights and obligations. It also details the conditions under which additional Limited Partners can be admitted before the final closing date, including their financial contributions and obligations.

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


document_description: The document outlines the terms for Additional Limited Partners in the partnership, including their financial obligations and the interest rates applicable to their contributions. It also details the adjustments to be made for existing Limited Partners and the role of the General Partner in managing these contributions and adjustments.

title: Amended and Restated Limited Partnership Agreement


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions related to the admission of new partners and anti-money laundering compliance. Limited Partners must ensure their contributions do not violate U.S. anti-money laundering laws, and the General Partner has the authority to take necessary actions to ensure compliance.

key_people:
General Partner
Limited Partners


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


document_description: This document outlines the powers and responsibilities of the General Partner in managing the Partnership, including making elections under tax laws, determining the timing of securities transactions, and executing various agreements on behalf of the Partnership. It also addresses the disclosure of nonpublic information and the rights of the General Partner and its affiliates to engage in outside business activities.

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

key_people:
General Partner
Limited Partner
Investment Manager


document_description: The document outlines the terms under which the General Partner can utilize alternative investment structures for legal, tax, regulatory, accounting, or other reasons. It specifies the conditions under which Limited Partners may be required to invest in Alternative Investment Vehicles and how these investments will be treated in relation to the Partnership.

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


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the terms related to allocations, distributions, and transfers of interests among Limited Partners and Alternative Investment Vehicles. It also addresses the treatment of defaulting partners and the establishment of Investment Subsidiaries for legal, tax, or regulatory reasons.


document_description: The document outlines the terms of a partnership agreement for Southern Financial LLC, including provisions for partnership expenses, parallel access funds, investment guidelines, borrowings, and ERISA compliance. It details the formation of parallel access funds or feeder funds to comply with legal and tax issues, investment guidelines for the partnership, and the use of credit facilities. It also addresses ERISA compliance to ensure the partnership's assets do not constitute plan assets subject to fiduciary standards.

document_subtype: Partnership Agreement


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the responsibilities and obligations regarding fees and expenses between the General Partner, the Partnership, and the Investment Manager. The document specifies the types of expenses that the Partnership will cover, including management fees, organizational expenses, and various operational costs. It also details the expenses that the Investment Manager or its affiliates will bear, such as employee compensation and office-related costs.


document_description: The document outlines the responsibilities and expenses related to the management and operation of a partnership, including the allocation of expenses among Limited Partners, the General Partner, and any Parallel Access Funds. It details the types of expenses covered, such as travel, research, insurance, and legal fees, and specifies how these expenses are to be shared among partners and funds.


document_description: The document outlines the financial responsibilities and management fee structure for Limited Partners in the partnership. It specifies how tax-related expenses and management fees are allocated and calculated based on the subscription amounts of the Limited Partners. The document also details the management fee rates applicable during different periods of the partnership's lifecycle.


document_description: This document outlines the financial terms and obligations for partners in the Southern Financial LLC partnership. It details the management fee structure, timing of payments, and capital contribution obligations for partners. The management fee is calculated based on LIBOR plus 2% or 8%, whichever is higher, and is payable quarterly. Capital contributions are required from each partner based on their subscription and percentage interest, with specific terms for initial contributions and drawdowns.

key_people:
Investment Manager
General Partner


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

key_people:
General Partner
Limited Partner

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


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


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


document_description: The document outlines the rights and remedies available to the Investment Manager and/or General Partner in the event of a Defaulting Partner in the partnership. It includes measures such as compulsory transfer of interest, exclusion from income sharing, reduction of unpaid subscription, forced sale of interest, acceptance of late contributions with interest, immediate payment of unpaid subscriptions, application of distributions against amounts due, abandonment of interest, withholding of distributions, and legal enforcement of rights under the agreement and Delaware law.


document_description: This document outlines the rights and remedies available to the General Partner in the event of a default by a Limited Partner in the partnership. It specifies the actions that can be taken against a Defaulting Partner, including limiting their voting rights, terminating their interest, reallocating their interest among non-defaulting partners, and enforcing penalties. The document also emphasizes that these remedies are cumulative and do not preclude the use of other remedies. It includes provisions for the allocation of income, profit, or gain in the event of a default and clarifies that the penalty provisions do not relieve the Defaulting Partner of their capital contribution obligations.

key_people:
General Partner
Defaulting Partner


document_description: This document outlines the terms and conditions related to capital contributions and defaults within the partnership. It specifies the procedures and consequences for Access Fund Defaults, including the treatment of Defaulting Access Fund Investors and the assignment of partner contributions as security for indebtedness. The General Partner has discretion in applying default provisions and may assign unpaid subscriptions to third parties.

key_people:
General Partner
Limited Partners
Defaulting Access Fund Investor


document_description: This document outlines the terms of the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions for security interests, distributions, and discretionary distributions among partners. The agreement specifies the rights and obligations of limited partners, including the assignment of interests as security and the conditions under which distributions are made.


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


document_description: The document outlines the tax liability and distribution obligations of partners in Southern Financial LLC. It specifies the responsibilities of the General Partner in determining tax liabilities and the indemnification obligations of Limited Partners. It also details the creation and maintenance of capital accounts for each partner.


document_description: The document outlines the allocation of net gain, net loss, and other financial items among partners in a partnership. It specifies the timing of allocations, compliance with Treasury Regulations, and the general method for allocating net gain or loss. Adjustments to allocations can be made at the discretion of the General Partner.


document_description: This document outlines the special allocations of items of loss or deduction, allocations following a default, and the admission of additional partners for the partnership. It includes provisions for special allocations of loss or expense items, transfer expenses, management fee deductions, and adjustments for new partners admitted after the initial closing date.


document_description: This document outlines the terms and conditions related to the duration and dissolution of a partnership under Southern Financial LLC. It specifies the term of the partnership, conditions for dissolution upon withdrawal of the General Partner, and procedures for liquidation of assets upon dissolution.


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

title: Amended and Ratified Limited Partnership Agreement

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


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


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

document_subtype: Amended and Ratified Limited Partnership Agreement

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


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


document_description: The document outlines the terms and conditions related to the transfer of interests, non-compliant transfers, multiple ownership, withdrawal rights, and removal of a limited partner within the partnership. It specifies the responsibilities of the General Partner in managing these aspects and the conditions under which a limited partner may be removed.


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


document_description: The document outlines indemnification provisions for Covered Persons and other affiliates involved with the partnership. It specifies conditions under which indemnification is granted or limited, including cases of bad faith, gross negligence, or unlawful conduct. It also discusses the advance payment of expenses related to legal actions, subject to certain conditions and agreements.


document_description: This document outlines the indemnification rights and insurance provisions for Indemnitees associated with the Partnership and the General Partner. It details the conditions under which the Partnership may purchase insurance for Indemnitees, the rights of successors, and the priority of indemnity obligations when multiple indemnification sources are available.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the indemnification and exculpation provisions for the partnership, including limitations on indemnification by the General Partner, adjustments required by law, and conditions under which partners may be required to return distributions to the partnership. The document also specifies the conditions under which these obligations survive the liquidation of the partnership or withdrawal of a partner.


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

title: ARTICLE 13 - AMENDMENTS, VOTING AND CONSENTS


document_description: This document is an amended and restated limited partnership agreement for Glendower Accetec Secondary Opportunities IV (U.S.), L.P. It outlines the procedures for obtaining consents and approvals from limited partners, voting and consent requirements, and administrative provisions for keeping accounts and records. The document specifies that the General Partner can send notices to Limited Partners for consent requests and that non-objecting partners are deemed to have consented. It also details the maintenance of books and records by the General Partner and the confidentiality of certain information.


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


document_description: The document outlines the valuation procedures for partnership assets, including freely tradable securities, other assets, and intangible assets. It specifies the methods for determining fair market value and the factors to be considered by the General Partner. It also includes provisions for notices and communications among partners.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines provisions related to notices, accounting, and tax matters. Notices to partners are deemed received based on specific delivery methods. The fiscal year is defined, and the selection of independent accountants is described. Tax provisions ensure the partnership is treated as a partnership for U.S. federal income tax purposes, with specific roles and responsibilities for the General Partner and Tax Matters Partner.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the responsibilities and designations of the General Partner as the 'partnership representative' under the IRS Code, particularly in relation to tax audits and compliance. It specifies the obligations of partners to provide necessary information for tax compliance and the financial responsibilities related to imputed underpayments. The document also addresses the costs associated with actions taken by the General Partner and the reliance on tax advisors.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the obligations of Limited Partners to provide information for compliance with FATCA and other tax regulations. It also details the consequences of non-compliance, including potential transfer or withdrawal from the partnership and indemnification for any resulting losses. Additionally, it addresses the non-requirement of Section 1045 rollovers and related tax reporting obligations.


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines various tax-related provisions, including the handling of tax basis adjustments, elections under the Internal Revenue Code, and tax reporting consistency. It also includes a power of attorney clause appointing the General Partner as the attorney-in-fact for certain legal actions.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the powers of the General Partner, including the execution of documents for the dissolution or continuation of the partnership, and the responsibilities of Limited Partners to provide necessary information and execute required documents. The document emphasizes the irrevocable power of attorney granted to the General Partner and the obligations of Limited Partners to comply with legal and partnership requirements.


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


document_description: This document outlines the confidentiality obligations of Limited Partners regarding Partnership Information, which is considered a valuable trade secret. It specifies the conditions under which such information can be disclosed, including to professional advisors and U.S. tax authorities, and the procedures to follow if disclosure is legally required. The document also details the steps to be taken if a Limited Partner becomes aware of a potential need to disclose the information.

document_subtype: confidential agreement


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


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions on arbitration, side letters, and bad actor disqualification information. The agreement outlines the rights and responsibilities of the General Partner and Limited Partners, including the ability to amend the agreement through side letters and the process for handling bad actor disqualifications.


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


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

key_people:
Thomas Fortin
Michael Stanton


document_description: This document provides definitions for terms used in the Glendower Access Secondary Opportunities W (U.S.), L.P. Amended and Restated Limited Partnership Agreement. It includes definitions for terms such as 20% Holder, Access Fund Default, Additional Limited Partner, Administrator, Advisers Act, Affiliate, Agreement, Alternative Investment Vehicles, Anti-Money Laundering Laws, Approved Agent, BBA, and Beneficial Interest.

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


document_description: This document is a proprietary and confidential amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes definitions and terms related to business days, capital accounts, carrying value, contributions, covered company partners, and other financial terms.

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


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

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


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the terms and conditions related to freely tradable securities, the roles of the General Partner and Limited Partners, and other legal and financial stipulations under the Securities Exchange Act of 1934 and the Investment Company Act of 1940.


document_description: This document outlines the terms and definitions related to the Glendower Access Secondary Opportunities IV (U.S.), L.P. Amended and Restated Limited Partnership Agreement, including details on management agreements, fees, net gains or losses, and non-voting interests.


document_description: This document outlines the terms and definitions related to the partnership agreement for Glendower Access Secondary Opportunities IV (International), L.P., a Cayman Islands exempted limited partnership. It includes definitions for terms such as Offshore Access Fund, Organizational Expenses, Parallel Access Fund, Partner Interest, and others. The document is marked as confidential and is related to financial and organizational aspects of the partnership.


document_description: This document outlines various definitions and terms related to the partnership agreement, including capital calls, management fees, and definitions of terms such as Person, Placement Agent, Plan Assets Regulation, Prime Rate, and others.

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


document_description: This document outlines the terms and conditions of the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes definitions and provisions related to third-party indemnifiers, transfer expenses, and treasury regulations.

key_locations:
United States
District of Columbia
European Union

document_subtype: financial agreement

key_organizations: Glendower Capital Secondary Opportunities IV, LP


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

title: Appendix II - Regulatory and Tax Allocations

document_subtype: Regulatory and Tax Allocations


document_description: The document outlines the financial allocations and tax considerations for the partners of Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions for special allocations to reflect economic interests and tax allocations in accordance with the Internal Revenue Code.


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

title: Proprietary and Confidential — Private Placement Memorandum

document_date: January 2018

document_subtype: Private Placement Memorandum

key_organizations:
Southern Financial LLC
Glendower Capital


document_description: This document is a confidential private placement memorandum furnished by iCapital Advisors, LLC to sophisticated investors for investment in limited partner interests in Glendower Access Secondary Opportunities IV (U.S.), L.P. The memorandum includes information about the investment in the Underlying Fund, Glendower Capital Secondary Opportunities Fund IV, LP, and outlines the legal and regulatory framework, including exemptions from registration under U.S. securities laws.

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

key_people:
General Partner
Investment Manager

key_locations: Delaware U.S. England

reference_numbers:
Rule 501(a)
Section 2(a)(51)


document_description: This document is an investment memorandum for the Access Fund, organized by Southern Financial LLC, targeting sophisticated investors. It outlines the risks and lack of liquidity associated with investing in the Access Fund, which is designed to invest in an Underlying Fund managed by Glendower Capital. The memorandum clarifies that investors in the Access Fund will not have direct interests or rights in the Underlying Fund and that Glendower Capital is not responsible for the Access Fund's operations or the accuracy of the information provided in the memorandum.

document_subtype: Investment Memorandum

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


document_description: This document is a financial memorandum related to Southern Financial LLC's indirect interests in funds managed by Glendower. It outlines the rights and limitations of the Access Fund, the General Partner, and their affiliates in relation to the Underlying Fund. The memorandum discusses potential risks, fees, and the non-assurance of future performance based on historical data. It also includes forward-looking statements and emphasizes the importance of investors conducting their own examination of the Access Fund before investing.

document_subtype: investment memorandum

key_organizations:
Southern Financial LLC
Glendower
Access Fund
General Partner
Investment Manager


document_description: This document is an investment memorandum for prospective investors in the Access Fund managed by Southern Financial LLC. It outlines the legal, tax, regulatory, financial, and accounting considerations for potential investors, emphasizing the need for consultation with personal advisors. The memorandum includes summaries of the Partnership Agreement and Subscription Agreement, but advises that these are not comprehensive and should be reviewed in full. The General Partner reserves the right to modify the terms of the offering and reject any investor's commitment. The document also includes a disclaimer regarding the use of information for tax purposes and encourages investors to seek independent tax advice.

key_organizations:
Southern Financial LLC
Access Fund
Glendower
Investment Manager
Placement Agents


document_description: This document is a confidential investment memorandum for Southern Financial LLC, detailing the terms and conditions for subscribing to the Access Fund. The minimum subscription is $250,000, but the General Partner may accept lesser amounts. The memorandum contains proprietary and confidential information, and its distribution is restricted by law in certain jurisdictions. Recipients must agree to confidentiality terms and return the document upon request.

key_organizations:
Southern Financial LLC
Glendower
Institutional Capital Network, Inc.


document_description: This document is an investment memorandum for Southern Financial LLC's Access Fund. It outlines the terms of the offering, emphasizing that investors must rely on their own examination of the fund and the associated risks. The memorandum supersedes previous documents and restricts unauthorized information or representations. It also highlights restrictions on transferability and resale of interests, compliance with the Securities Act, and the need for certification of beneficial ownership to avoid classification as plan assets under ERISA.

key_organizations:
Southern Financial LLC
Access Fund
Glendower


document_description: The document outlines the exemption of Southern Financial LLC's Access Fund from registration with the U.S. Commodity Futures Trading Commission (CFTC) as a Commodity Pool Operator (CPO) and Commodity Trading Advisor (CTA) under specific CFTC rules. It details the conditions under which the exemption is claimed, including investor qualifications and limits on commodity interest positions.

document_subtype: exemption notice


document_description: The document discusses the aggregation of positions for CFTC position limit and large trader reporting purposes, and the exemption of the investment manager from CFTC registration as a CTA under specific rules.

document_subtype: investment advisory

key_organizations:
Southern Financial LLC
CFTC
NFA


document_description: This document is a table of contents for a financial document related to Southern Financial LLC, outlining sections on introduction, summary of principal terms, risk factors, and tax considerations. It includes a confidential private placement memorandum.

title: Table of Contents for Southern Financial LLC Document

document_subtype: Table of Contents

key_organizations: Glendower Capital Secondary Opportunities Fund IV, LP


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

key_locations: Delaware England


document_description: This document provides a summary of the principal terms of the Glendower Access Secondary Opportunities IV (U.S.), L.P. (the 'Access Fund'), including details about the General Partner, Investment Manager, and relevant agreements. It is intended for prospective investors and is qualified by the Access Fund's Amended and Restated Limited Partnership Agreement and related documentation.

title: Summary of Principal Terms of the Access Fund

document_date: October 2017

document_subtype: Investment Summary


document_description: This document is a memorandum related to the Access Fund's investment management agreement. It outlines the management fee structure, the role of the Investment Manager, and the purpose of the Access Fund, which is to invest in Glendower Capital Secondary Opportunities Fund IV, LP. The memorandum details the investment objectives and strategies of the Underlying Fund, focusing on generating risk-adjusted returns through various investment types in the secondary market.


document_description: The document outlines the offering of limited partner interests in the Access Fund by Southern Financial LLC. It details the investment structure, eligibility criteria for U.S. taxable and tax-exempt investors, and the minimum subscription requirements. The Access Fund is designed for U.S. investors, including those willing to receive unrelated business taxable income (UBTI). The document also highlights tax considerations and advises prospective investors to consult their advisors regarding tax consequences.

document_subtype: Investment Offering

key_organizations:
Southern Financial LLC
Access Fund
Underlying Fund
Glendower GP


document_description: The document outlines the terms and conditions for initial and subsequent closings of the Access Fund managed by Southern Financial LLC. It details the process for admitting new investors or increasing subscriptions, the calculation of capital contributions, and the interest rates applicable to late contributions. It also specifies the consequences of failing to pay subsequent interest as a default under the Partnership Agreement.

document_subtype: investment agreement

key_organizations:
Southern Financial LLC
Access Fund
Glendower GP
Underlying Fund
Investment Manager


document_description: The document outlines the investment terms for the Access Fund in the Underlying Fund, including provisions for subsequent closings, potential dilution of existing investors, and the formation of parallel access and feeder funds. It also details the term of the Access Fund and conditions for its extension or early termination.

document_subtype: Investment Agreement


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

document_subtype: investment fund document


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

key_people:
General Partner
Investment Manager
Glendower GP

key_organizations:
Southern Financial LLC
Access Fund
Underlying Fund


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

key_organizations:
Southern Financial LLC
Access Fund


document_description: This document outlines the various expenses and costs associated with the Access Fund, including legal, administrative, and operational expenses. It details the financial obligations related to litigation, investment banking, and other services necessary for the fund's operations.

document_subtype: financial report

key_organizations:
Access Fund
Southern Financial LLC


document_description: The document outlines the financial responsibilities and fee structures for Limited Partners in relation to the Access Fund and Feeder Funds. It details how operating expenses, management fees, and other costs are allocated among the Limited Partners, Access Fund, and Feeder Funds. The document specifies that Limited Partners will bear the costs of the Access Fund's share of management fees, carried interest, and other expenses. It also describes the management fee structure and its impact on the Limited Partner's subscription.

key_organizations:
Southern Financial LLC
Access Fund
Feeder Fund
Underlying Fund


document_description: This document outlines the management fee structure for Limited Partners in the Access Fund managed by Southern Financial LLC. It details the calculation of management fees based on subscription amounts and investment periods, and the distribution of fees to the Investment Manager and Placement Agents.

key_people:
Investment Manager
Placement Agents


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

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


document_description: The document outlines the carried interest distributions, indemnification, and withdrawal and transfer policies for the Access Fund associated with Southern Financial LLC. It details the carried interest distribution of 12.5% of net profits to Glendower GP, indemnification obligations, and restrictions on withdrawal and transfer of interests by Limited Partners.

document_subtype: Investment Fund Document


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

key_organizations:
Southern Financial LLC
Access Fund
U.S. Internal Revenue Service


document_description: The document outlines considerations for prospective investors in the Access Fund, particularly in relation to ERISA compliance. It details the General Partner's efforts to ensure the fund is suitable for employee benefit plans and the limitations on benefit plan investors. It also covers the potential for Limited Partners to return distributions to cover liabilities and the amendment procedures for the Partnership Agreement.

document_subtype: investment document


document_description: The document outlines amendments to the Partnership Agreement of the Access Fund managed by Southern Financial LLC. It details conditions under which amendments can be made, including compliance with legal requirements and addressing financial or regulatory changes. It also discusses the voting rights of the General Partner and Investment Manager, borrowing provisions, and the use of credit facilities.

document_subtype: Partnership Agreement Amendment


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

key_organizations:
Southern Financial LLC
Underlying Fund
Access Fund


document_description: The document outlines the roles and responsibilities of the General Partner in providing information to various parties, including Limited Partners, accountants, attorneys, and service providers, as required by law. It also details the legal counsel and auditing arrangements for the Access Fund and its affiliates.

document_subtype: Investor Information

key_organizations:
Southern Financial LLC
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, managed by Southern Financial LLC. It highlights business and market risks, as well as conflicts of interest related to placement agents like Raymond James, who receive fees for introducing investors to the fund.

document_subtype: investment risk disclosure

key_organizations:
Southern Financial LLC
Raymond James
Glendower


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

key_organizations:
Southern Financial LLC
Access Fund
Underlying Fund
Glendower


document_description: The document outlines the terms and conditions of an investment in the Access Fund managed by Southern Financial LLC. It discusses indemnification provisions, capital contributions, co-investment opportunities, and compensation arrangements. The document highlights potential conflicts of interest and advises investors to consult with their own advisors.

key_organizations:
Southern Financial LLC
Glendower GP
iCapital Securities, LLC


document_description: The document outlines the roles of the General Partner and Investment Manager in retaining investment advisers or Placement Agents for marketing and selling interests. It discusses potential conflicts of interest, management of other funds or managed accounts with similar strategies, and valuation of assets in the Access Fund. It highlights the potential for conflicts of interest, differences in benefits for investors, and uncertainties in asset valuation.

document_subtype: Investment Fund Disclosure

key_organizations:
Southern Financial LLC
iCapital Network
Glendower


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

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


document_description: The document discusses the potential risks and liabilities associated with the Access Fund's significant ownership interests in portfolio companies, particularly in relation to ERISA controlled group liability. It references the 2013 Sun Capital Case and the 2016 U.S. District Court ruling on partnership-in-fact. The document also outlines the lack of recourse for Limited Partners against the Underlying Fund, restrictions on transferability or redemption of interests, and the lack of voting rights or participation in the Underlying Fund's management. It highlights the investment concentration risks associated with the Access Fund's sole investment in the Underlying Fund.

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

document_subtype: investment fund disclosure

key_organizations:
Access Fund
Underlying Fund
Glendower


document_description: The document discusses the terms and conditions of the Underlying Fund and the Access Fund managed by Glendower and Southern Financial LLC. It highlights potential conflicts of interest, confidentiality of certain information, the possibility of changes to the fund's terms, and the use of Side Letters for preferential terms for certain investors.

key_people:
Glendower
General Partner

document_subtype: investment memorandum


document_description: The document outlines the financial obligations and rights of the Access Fund and its Limited Partners in relation to the Underlying Fund managed by Glendower GP. It details the conditions under which capital contributions can be recalled, the indemnification obligations of the Access Fund, and the multiple layers of expenses that will be borne by the Access Fund and its Limited Partners.

document_subtype: financial agreement


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


document_description: The document discusses the financial management and investment strategies of the Access Fund, including cash management, over-commitment, lack of diversification, forward-looking statements, and disqualification of certain 'bad actors' from Rule 506 offerings. It outlines the risks and procedures involved in managing the fund's capital contributions and investments in the Underlying Fund.

key_organizations:
Access Fund
Underlying Fund
Southern Financial LLC


document_description: The document discusses the legal and regulatory risks associated with the Access Fund and the Underlying Fund, particularly in light of the Dodd-Frank Act. It highlights the potential for increased regulatory scrutiny and the impact of new regulations on private investment funds, including additional reporting requirements and market structure changes for derivatives. The document also outlines the potential administrative burdens and costs that may arise from these regulatory changes.

document_subtype: regulatory compliance

key_organizations:
Southern Financial LLC
Glendower GP
Access Fund
Underlying Fund
General Partner
Investment Manager
SEC
CFTC


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

key_locations:
European Union
Japan
United States

document_subtype: financial regulation summary

key_organizations:
Southern Financial LLC
CFTC


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 possible increase in costs and reduction in exposure due to new position limits and aggregation requirements. The document also outlines the implications of the 2017 Tax Legislation on the taxation of investments, including changes in corporate tax rates, limitations on interest expense deductibility, and the treatment of foreign income. Legal counsel for the Access Fund is mentioned, and prospective investors are advised to seek independent legal, tax, and financial advice.

key_people:
Cleary Gottlieb Steen & Hamilton LLP
Maples and Calder

key_locations:
United States
Cayman Islands

document_subtype: investment fund analysis


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

document_subtype: tax information

key_organizations:
Southern Financial LLC
Access Fund
Underlying Fund
IRS


document_description: The document discusses the impact of the Bipartisan Budget Act of 2015 on U.S. federal income tax audits of partnerships, specifically focusing on the Access Fund. It outlines the changes in audit procedures, potential tax liabilities for partners, and the implications of not electing an alternative procedure. It also highlights other tax risks associated with investing in the Access Fund, including adverse changes in tax laws and potential taxation in various jurisdictions.

document_subtype: tax legislation summary

key_organizations:
Southern Financial LLC
Access Fund


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

document_subtype: tax document

key_organizations:
Access Fund
IRS
Southern Financial LLC


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

key_locations:
United States
District of Columbia

document_subtype: tax considerations

key_organizations:
Access Fund
IRS


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

document_subtype: tax summary

key_organizations:
Southern Financial LLC
Access Fund
Underlying Fund


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


document_description: The document discusses the tax implications and conditions related to the sale of interests in Southern Financial LLC's Access Fund. It covers capital gains, tax basis adjustments, and limitations on the deductibility of interest expenses for non-corporate taxpayers.


document_description: The document outlines tax provisions related to the Access Fund managed by Southern Financial LLC. It discusses the treatment of investment income, limitations on interest deductions, passive activity loss restrictions, at-risk limitations, and the deductibility of fund expenses for non-corporate Limited Partners. It advises prospective investors to consult tax advisors regarding these limitations.

document_subtype: investment fund tax provisions


document_description: The document discusses the tax implications for the Access Fund, including the treatment of capital losses, capital gains, and ordinary income from interest and fees. It also covers the tax treatment of debt investments, original issue discount, market discount, and contingent payment debt instruments. Additionally, it addresses uncertainties in U.S. federal income tax law related to debt restructuring.


document_description: The document discusses the tax implications of restructuring debt obligations and investments by the Access Fund, including potential taxable events, investment in derivatives, and partnerships. It highlights the complexities of U.S. federal income tax consequences for Limited Partners, especially concerning Passive Foreign Investment Companies (PFICs) and U.S. Tax-Exempt Investors. The document advises prospective investors to consult tax advisors regarding these rules.

document_subtype: tax advisory

key_organizations:
Access Fund
Southern Financial LLC


document_description: The document discusses the tax implications for U.S. persons investing in controlled foreign corporations (CFCs) through the Access Fund. It outlines the rules for U.S. shareholders of CFCs, including the requirement to include certain earnings in gross income and the treatment of gains as dividend income. The document also covers the impact of the 2017 Tax Legislation on deferred earnings and the tax treatment of foreign currency gains or losses. Additionally, it addresses the potential for unrelated business taxable income (UBTI) for U.S. Tax-Exempt Investors due to leverage and other income-generating activities by the Access Fund.


document_description: The document discusses tax implications for U.S. Tax-Exempt Investors and Limited Partners investing in the Access Fund. It covers topics such as Unrelated Business Taxable Income (UBTI), excise taxes, foreign tax credits, and audit procedures. The document advises investors to consult tax advisors regarding these issues.


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


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


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

key_locations:
Puerto Rico
Virgin Islands
District of Columbia

key_organizations:
Southern Financial LLC
Raymond James Financial Services, Inc.
Securities and Exchange Commission


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

document_subtype: legal disclosure

key_organizations:
Access Fund
General Partner
Investment Manager
National Futures Association


document_description: The document outlines regulatory and compliance requirements for investors in the Access Fund managed by Glendower GP. It addresses anti-money laundering measures, the non-applicability of the AIFM Directive, and ERISA considerations for U.S. pension plans.

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


document_description: This document discusses the implications of the 2017 Fiduciary Rule on investments by ERISA Plans and Individual Plans in the Access Fund. It outlines the responsibilities and considerations for fiduciaries under ERISA and the Code, including potential prohibited transactions and fiduciary responsibilities. The document also explains the Seller's Exclusion and the conditions under which the Access Fund's assets may be considered 'plan assets.'

document_subtype: investment document

key_organizations:
U.S. Department of Labor
ERISA
Access Fund
General Partner
Investment Manager


document_description: The document discusses the classification of equity interests in the Access Fund, particularly in relation to ERISA regulations. It outlines the implications if the Access Fund's assets are considered plan assets under ERISA, including fiduciary responsibilities and potential liabilities. It also addresses reporting requirements for ERISA Plan investors on Form 5500 and considerations for governmental pension plans. The document advises fiduciaries to consult legal counsel regarding ERISA and investment decisions.


document_description: This document is a supplement to the Private Placement Memorandum dated January 2018, related to the offering of limited partnership interests in Glendower Access Secondary Opportunities IV (U.S.), L.P. It is intended for potential investors considering the purchase of interests in the Access Fund.

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:
Southern Financial LLC
Glendower Capital


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 outlines the relationship with the Underlying Fund and the Feeder Fund, and provides guidance on disclosure of tax treatment and structure to advisors and tax authorities.

key_organizations: Glendower Capital Secondary Opportunities Fund IV, LP

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. These include management fees, organizational expenses, taxes, accounting and audit fees, legal costs, and other operational expenses. It also specifies that expenses related to litigation, investment banking, and consulting services will be covered, along with costs associated with alternative investment vehicles and feeder funds.

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

document_subtype: Summary of Principal Terms


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

document_subtype: Investment Fund Agreement


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

document_subtype: amendment

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


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 funds, which are borne by the Access Fund and indirectly by the Underlying Fund. The document includes amendments to certain risk factors and potential conflicts of interest related to multiple layers of expenses.

document_subtype: Partnership Agreement

key_organizations:
Southern Financial LLC
Access Fund
Underlying Fund
Glendower GP


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

title: Underlying Fund Confidential Private Placement Memorandum


document_description: Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, involving Southern Financial LLC and Credit Suisse.

key_organizations:
Glendower Capital
Southern Financial LLC
Credit Suisse


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


document_description: This document is an amended and restated confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, detailing an investment opportunity in limited partner interests valued at $1,750,000,000. It is circulated by Glendower Capital LLP, authorized by the UK Financial Conduct Authority, to a limited number of qualified prospective investors. 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 as defined by the Markets in Financial Instruments Directive.

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

document_subtype: Private Placement Memorandum

key_organizations:
Glendower Capital LLP
UK Financial Conduct Authority


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the terms and conditions under which the fund's interests are offered, including the lack of registration under the U.S. Investment Company Act of 1940 and the U.S. Securities Act of 1933. The memorandum highlights the risks associated with the investment, the lack of liquidity, and the indefinite period for which investors may need to bear these risks. It also advises prospective investors to consult their advisors regarding legal, tax, and financial matters related to the investment.

title: Confidential Private Placement Memorandum

key_organizations:
Glendower Capital
Southern Financial LLC
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