document_description: This document provides the educational background, business experience, and other relevant information about John C. Robertshaw, a Special Advisor to iCapital Network and iCapital Securities, LLC. It includes details about his previous roles at Credit Suisse and Salomon Brothers, as well as his educational background from Yale University. The document also confirms that Mr. Robertshaw has no disciplinary history and outlines his supervision by Mr. Michael Stanton, iCapital's CCO.

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
iCapital Securities, LLC


source: doj

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

title: Form ADV Part 2B for Daniel Vene

key_people:
Daniel Vene
Michael Stanton

document_type: correspondence

document_subtype: Form ADV Part 2B

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


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 includes definitions, organization and powers, details about partners, investments and activities, fees and expenses, and capital of the partnership.

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


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

document_type: tabular


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


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


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P., dated April 11, 2018. It involves 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.

document_subtype: Amended and Restated Limited Partnership Agreement

key_organizations: Glendower Access Secondary Opportunities IV GP LLC


document_description: This document is an excerpt from a Limited Partnership Agreement, detailing the obligations and rights of Limited Partners in the event of death, dissolution, or bankruptcy, as well as the conditions for admitting additional Limited Partners before the final closing date. It outlines the financial contributions required from new or existing Limited Partners when increasing their subscriptions.

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


document_description: This document outlines the terms and conditions for the admission of Additional Limited Partners to the partnership, including their financial contributions, management fees, and interest calculations. It also details the adjustments to be made to the capital accounts and distributions to existing partners upon the admission of new partners.

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 provisions for the admission of new partners, anti-money laundering provisions, and compliance with U.S. laws.


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 for compliance 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.

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 terms related to allocations, distributions, and transfers of interests among Limited Partners and Alternative Investment Vehicles. It specifies the conditions under which a Limited Partner may become a 'defaulting partner' and the economic terms that should be consistent across the Partnership and Alternative Investment Vehicles. The document also discusses the establishment of Investment Subsidiaries for legal, tax, or management purposes.


document_description: The document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the structure and management of the partnership, including provisions for partnership expenses, parallel access funds, feeder funds, investment guidelines, borrowings, and ERISA compliance. The agreement allows the General Partner to form parallel access funds or feeder funds to address legal, tax, or regulatory issues and outlines the conditions under which limited partners may be required to participate in these funds. It also details investment guidelines, including the use of temporary investments and credit facilities, and ensures compliance with ERISA regulations to avoid prohibited transactions.


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


document_description: The document outlines the 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.

title: Amended and Restated Limited Partnership Agreement


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


document_description: This document outlines the procedures and conditions under which the General Partner can call for capital contributions from Limited Partners, including initial drawdowns, additional contributions, deficiency drawdowns, and the return of unused contributions. It also details the authority of the General Partner to reduce subscriptions and the procedure for notifying partners of capital calls.

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


document_description: The document outlines the terms related to capital contributions, returns, and adjustments for partners in the Glendower Access Secondary Opportunities IV (U.S.), L.P. It 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 pursuing legal remedies. The document also addresses the consequences of a default, such as prohibiting future capital calls and compulsory redemption of the Defaulting Partner's interest.


document_description: The document outlines the rights and remedies available to the General Partner and Investment Manager in the event of a Defaulting Partner within the partnership. It includes measures such as compulsory transfer of interest, withholding distributions, and legal actions to recover unpaid contributions and expenses.


document_description: This document outlines the provisions related to defaulting partners in the Glendower Access Secondary Opportunities IV (U.S.), L.P. It details the rights and remedies available to the General Partner in the event of a partner's default, including the reallocation of interests, termination of partnership interest, and allocation of income, profit, or gain. It also specifies the cumulative nature of remedies and the obligation of defaulting partners to cover costs incurred by the partnership due to their default.


document_description: This document outlines the terms and conditions related to default provisions and assignment of partner contributions within the Glendower Access Secondary Opportunities IV (U.S.), L.P. It details the procedures and consequences of a partner's failure to meet capital call obligations, including the treatment of defaulting partners and the assignment of unpaid subscriptions as security for partnership obligations.


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 the Limited Partners and the General Partner, including the handling of proceeds from investments and the establishment of reserves for management fees and other expenses.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the allocation of net gain, net loss, and other items of income, gain, loss, and deduction among partners. The document specifies the timing of allocations, compliance with Treasury Regulations, and the general method for allocating net gain and net loss. It also discusses adjustments to partners' capital accounts and the discretion of the General Partner in making these allocations.


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


document_description: This document outlines the terms and conditions of a partnership agreement, including the duration, dissolution, and liquidation of assets. It specifies the conditions under which the partnership may be dissolved, either by withdrawal of the General Partner or by decision of the General Partner. It also details the process for liquidation of assets upon dissolution.

key_organizations: Glendovwr Acceto Secondary Opportunities IV (U.S.), L.P.


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

key_organizations: Glendower Aeccta 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.

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


document_description: This document outlines the conditions and restrictions related to the transfer of partnership interests in Glendower Accetcc Secondary Opportunities IV (U.S.), L.P. It specifies the requirements for transferring Limited Partners and transferees, including compliance with Section 1446(f) of the Code and other legal provisions. The document also lists prohibited legal consequences that would prevent a transfer, such as causing the partnership's assets to become 'plan assets' under ERISA or resulting in a non-exempt prohibited transaction.


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: This document outlines the terms and conditions related to the transfer of interests, non-compliant transfers, multiple ownership, withdrawal rights, and removal of limited partners within the Glendower Access Secondary Opportunities IV (U.S.), L.P. partnership. It specifies the rights and obligations of the General Partner and Limited Partners, including conditions under which a Limited Partner may be removed or required to withdraw.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the exculpation and indemnification provisions for Covered Persons, including the General Partner and Investment Manager. The agreement specifies 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. It also addresses the responsibilities and liabilities of liquidators and the reliance on expert advice.


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 provisions for Covered Persons and other related parties. The agreement specifies the conditions under which indemnification is provided, limitations on indemnification, and the advance payment of expenses related to legal actions. It also details the responsibilities of the Partnership and the Indemnitee in such situations.


document_description: This document outlines the indemnification provisions for the partnership, including insurance policies, rights to indemnification from other sources, and the priority of indemnity obligations. It specifies the conditions under which the partnership may purchase insurance for indemnitees and the order of liability for indemnification payments.

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


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


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

document_subtype: Partnership Agreement Amendment


document_description: The document outlines the procedures for obtaining consents and approvals under the Advisers Act, voting and consent requirements among Limited Partners, and administrative provisions for maintaining accounts and records. It specifies how actions are validated based on the percentage of interest among Limited Partners and details the responsibilities of the General Partner in maintaining proper records and confidentiality.


document_description: This document outlines the financial reporting obligations of the General Partner in a limited partnership agreement. It includes provisions for filing a Certificate of Limited Partnership, delivering annual financial statements and tax information to partners, and providing quarterly reports. It also notes the limitations on information rights for Limited Partners compared to direct limited partners of the Underlying Fund.


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 are to be sent to partners as specified, with certain conditions for electronic delivery. 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 outlines the amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions regarding the designation of the General Partner as the 'partnership representative' under the BBA, the responsibilities of partners in relation to tax compliance, and the financial obligations of partners in case of imputed underpayments. The agreement also addresses the sharing of costs for actions taken by the General Partner and the requirement for partners to provide necessary information for tax compliance.


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 of the partnership for any losses incurred. Additionally, it addresses the non-requirement of Section 1045 rollovers and related tax reporting obligations.


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 various tax-related provisions and obligations for Limited Partners, including restrictions on elections under certain sections of the Internal Revenue Code, requirements for maintaining the status of an electing investment partnership, and tax reporting consistency. It also includes a power of attorney clause appointing the General Partner as attorney-in-fact for certain legal and administrative actions.


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


document_description: This document is an amended and restated limited partnership agreement for Glendower Aecc& 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 is an amended and restated limited partnership agreement for Glendower Accetec Secondary Opportunities IV (U.S.), L.P. It outlines confidentiality obligations, the rights of the General Partner to withhold information, and the legal remedies available for breaches of confidentiality. It also includes provisions for contract construction and the survival of confidentiality obligations after a partner's withdrawal.


document_description: This document is an amended and restated limited partnership agreement for Glenodwer Access Secondary Opportunities IV (U.S.), L.P. It outlines the terms and conditions of the partnership, including arbitration procedures, the use of side letters, and bad actor disqualification information. The agreement specifies that any disputes will be settled through binding arbitration in New York City and allows for side letters to amend terms for specific limited partners. It also includes provisions for handling partners identified as 'bad actors' under securities regulations.

title: Glenodwer 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 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 the execution details by the General Partner and Limited Partners, with Thomas Fortin as the 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 is an appendix to the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities W (U.S.), L.P. It contains definitions of terms used in the agreement, such as '20% Holder', 'Access Fund Default', 'Administrator', and others. The document is marked as confidential and is subject to Federal Rule of Criminal Procedure 6(e).

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


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes definitions and terms related to business days, capital accounts, carrying value, contributions, and covered company partners and persons. It also references specific sections of the agreement for detailed provisions.


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


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines definitions and terms related to securities, partners, and management within the partnership.

key_people:
Lawrence Hirsch
Michael Stanton


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


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines definitions and terms related to the partnership, including organizational expenses, partner interests, and partnership minimum gain. The document is marked as confidential and is subject to Federal Rule of Criminal Procedure 6(e).

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


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


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 details on investment ratings, third-party indemnifiers, transfer regulations, and the underlying fund, Glendower Capital Secondary Opportunities IV, LP.

key_locations:
United States
District of Columbia
European Union

key_organizations: United States Department of the Treasury


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

title: Regulatory and Tax Allocations

document_subtype: Partnership Agreement Appendix


document_description: The document outlines special allocations to reflect economic interests among partners, tax allocations, and modifications to allocations as advised by tax advisors to reflect partners' relative economic interests. It references compliance with Section 706(d) and Section 704(c) of the Code.

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


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

document_date: January 2018

document_type: financial

document_subtype: Private Placement Memorandum


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 details about the investment structure, legal disclaimers, and regulatory compliance. It emphasizes the confidential nature of the information and the lack of registration with the SEC or other regulatory bodies.

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

key_locations:
Delaware
United States
England

key_organizations: Glendower Capital Secondary Opportunities Fund IV, LP


document_description: This document is an investment memorandum for the Access Fund, highlighting the risks and legal disclaimers associated with investing in the fund. It specifies that the fund is suitable only for sophisticated investors who can bear high risks and lack of liquidity. The memorandum outlines the legal limitations and disclaimers regarding the involvement of Glendower and the Underlying Fund, emphasizing that investors in the Access Fund will not have direct interests or rights in the Underlying Fund.

key_locations: United Kingdom of Great Britain and Northern Ireland

document_subtype: investment memorandum

key_organizations:
Access Fund
Glendower GP
Glendower Capital LLP
Glendower Capital (U.S.) LLC


document_description: This memorandum discusses the indirect interests in funds managed by Glendower, the rights and limitations of the Access Fund and its Limited Partners, and the potential risks and uncertainties associated with investing in the Underlying Fund. It includes forward-looking statements and emphasizes the importance of investors conducting their own examination of the Access Fund.

document_subtype: memorandum

key_organizations:
Glendower
Access Fund
Underlying Fund


document_description: This document is a Memorandum for prospective investors in the Access Fund. It provides a summary of the Partnership Agreement, Subscription Agreement, and other related documents. It advises investors to consult their own advisors for legal, tax, regulatory, financial, and accounting advice. The Memorandum is not a prospectus and does not contain all necessary information for an investment decision. It outlines the rights and obligations of investors and the terms of the offering, which can be modified by the General Partner. The document also includes a disclaimer regarding U.S. tax regulations and the limitations of the information provided.

document_subtype: Memorandum

key_organizations:
Access Fund
General Partner
Investment Manager
Underlying Fund
Glendower
Placement Agents


document_description: This document is a confidential memorandum related to the offer and sale of Interests in a fund. It outlines the minimum subscription amount, legal restrictions on distribution, and confidentiality obligations of the recipient.

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


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

key_organizations:
Access Fund
Glendower


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

document_subtype: exemption notice


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

document_subtype: legal notice

key_organizations: CFTC NFA


document_description: This document is a table of contents for the Glendower Capital Secondary Opportunities Fund IV, LP, including sections on introduction, summary of principal terms, risk factors, and tax considerations.

title: Table of Contents for Glendower Capital Secondary Opportunities Fund IV, LP

document_subtype: Table of Contents


document_description: Glendower Access Secondary Opportunities IV (U.S.), L.P., a Delaware limited partnership, is formed to invest in Glendower Capital Secondary Opportunities Fund IV, LP, an English private fund. The fund aims to generate attractive risk-adjusted returns through diverse investments in buyout, growth capital, venture capital, and other assets primarily on the secondary market. The memorandum advises prospective investors to read the Underlying Fund's Private Placement Memorandum for risk factors and potential conflicts of interest.

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, Glendower Access Secondary Opportunities IV GP LLC, and the Investment Manager, iCapital Advisors, LLC. It outlines the management structure and the delegation of authority within the fund, referencing the Partnership Agreement and Subscription Agreement for detailed terms.

title: Summary of Principal Terms of the Access Fund

document_date: October 2017

document_subtype: Investment Fund Summary


document_description: This document is an investment memorandum for the Access Fund, detailing the management fee, investment management agreement, and the purpose of the Access Fund. The Access Fund aims to invest in Glendower Capital Secondary Opportunities Fund IV, LP, with a focus on generating risk-adjusted returns through various investment strategies. The memorandum outlines the discretion of the General Partner in managing subscriptions and investments.


document_description: The document outlines the offering and investment details for the Access Fund, a private placement fund for certain U.S. investors. It describes the types of investors suitable for the fund, including U.S. taxable investors and U.S. tax-exempt investors willing to receive unrelated business taxable income (UBTI). The document also details the minimum subscription requirements for both the Access Fund and the Underlying Fund, and notes that the Access Fund involves an additional layer of expenses compared to direct investment in the Underlying Fund.

document_subtype: Investment Offering

key_organizations:
Access Fund
Underlying Fund
Glendower GP


document_description: The document outlines the procedures for initial and subsequent closings of the Access Fund, including the responsibilities of the General Partner and the requirements for Limited Partners. It details the financial obligations of investors joining after the Initial Closing, including capital contributions, management fees, and interest calculations.

document_subtype: fund management agreement

key_organizations:
Access Fund
Glendower GP


document_description: The document outlines the investment terms and conditions for the Access Fund's participation in the Underlying Fund. It details the process for additional investments at subsequent closings, potential dilution of existing investors' interests, and the formation of parallel access and feeder funds. The term of the Access Fund is expected to end within one year following the dissolution of the Underlying Fund, with possible extensions.

document_subtype: Investment Fund Document


document_description: The document outlines the formation and operation of Glendower Access Secondary Opportunities IV (International), L.P., an offshore access fund for qualified U.S. Tax-Exempt Investors and Non-U.S. Investors. It details the capital call process, penalties for non-compliance, and the structure of parallel access funds or feeder funds.

document_subtype: investment fund agreement


document_description: The document outlines the consequences of a Limited Partner's failure to meet capital contribution requirements in a partnership agreement. It details the potential remedies the Underlying Fund may impose on the Access Fund, including forfeiture of interest. It also describes the process for handling defaults, including the ability of the General Partner to call additional capital from compliant Limited Partners and the treatment of the Access Fund as a Defaulting Partner. The document emphasizes the proprietary and confidential nature of the information.

key_organizations:
Access Fund
Underlying Fund
Glendower
General Partner
Investment Manager


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

key_organizations:
Access Fund
Feeder Fund
General Partner
Investment Manager


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

document_subtype: legal expenses

key_organizations:
Access Fund
Underlying Fund
General Partner
Investment Manager


document_description: The document outlines the financial responsibilities of Limited Partners in relation to the Access Fund and Feeder Funds. It details the allocation of operating expenses, management fees, and other costs associated with the Access Fund and its relationship with the Underlying Fund.

document_subtype: Investment Agreement

key_organizations:
Access Fund
Feeder Fund
General Partner
Investment Manager
Underlying Fund


document_description: This document outlines the management fee structure for Limited Partners in relation to an Access Fund and its Underlying Fund. It details the calculation of management fees based on subscription amounts and investment periods, and specifies different rates for varying subscription levels. The document also explains the payment process and the role of Placement Agents in receiving a portion of the management fees.

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


document_description: The document outlines the role of Raymond James & Associates, Inc. and other placement agents in the Access Fund's investment process. It details the placement fees applicable to Limited Partners, the marketing and fund servicing fees, and the management fee structure for the Underlying Fund. The document also mentions the potential for fee waivers and the disclosure of fees to investors prior to their admission to the Access Fund.

document_subtype: Investment Document

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


document_description: The document outlines the terms related to carried interest distributions, indemnification, and withdrawal/transfer of interests for the Access Fund and its Limited Partners. It specifies the carried interest distribution to Glendower GP, indemnification obligations, and conditions for withdrawal and transfer of interests.

document_subtype: Investment Fund Agreement

key_organizations:
Glendower GP
Access Fund


document_description: The document outlines the financial reporting and tax implications for Limited Partners of the Access Fund. It details the provision of audited financial statements, IRS Schedule K-1, and quarterly reports. It also discusses the U.S. federal income tax treatment of the Access Fund as a partnership and the implications for U.S. Tax-Exempt Investors, including the expectation of recognizing material amounts of UBTI.

document_subtype: financial report

key_organizations:
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 under ERISA, including maintaining less than 25% ownership by benefit plan investors. It also discusses the potential for Limited Partners to return distributions to cover liabilities and the amendment procedures for the Partnership Agreement.


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

key_organizations:
Underlying Fund
Access Fund


document_description: This document outlines the roles and responsibilities of various parties involved with the Access Fund, including legal counsel, auditors, and administrators. It specifies the conditions under which the General Partner may share Limited Partner information and highlights the legal counsel provided by Cleary Gottlieb Steen & Hamilton LLP and Maples and Calder. It also mentions KPMG as the auditor and an independent third party as the administrator and custodian.

document_subtype: memo

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


document_description: The document outlines certain risk factors and potential conflicts of interest associated with investing in the Access Fund. It highlights business and market risks, the role of placement agents, and the financial incentives for placement agents to refer investors to the Access Fund. The document emphasizes the speculative nature of the investment and the potential for substantial losses.

document_subtype: investment risk disclosure

key_organizations:
Access Fund
Underlying Fund
Raymond James
Glendower


document_description: The document discusses the risks and conflicts of interest associated with investing in the Access Fund, 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.

document_subtype: investment memorandum

key_organizations:
Raymond James
Access Fund
Underlying Fund
Glendower


document_description: The document outlines the terms and conditions of an investment in the Access Fund, including indemnification provisions, capital contribution requirements, co-investment opportunities, and compensation arrangements. It highlights the risks and conflicts of interest associated with the investment.

document_subtype: investment agreement

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


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: This document discusses the potential risks and liabilities associated with the Access Fund's ownership interests in portfolio companies, particularly in relation to ERISA controlled group liability. It references the 2013 Sun Capital Case and 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, the illiquidity of investments, and the lack of voting rights or participation in the Underlying Fund's management. Additionally, it highlights investment concentration risks.

key_locations:
First Circuit
District of Massachusetts

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

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


document_description: The document discusses the potential conflicts of interest and confidentiality issues related to the Access Fund and the Underlying Fund managed by Glendower. It highlights that certain information will not be disclosed to Limited Partners and that terms of the Underlying Fund are subject to change without liability to Limited Partners. The document also covers the possibility of Side Letters that may offer preferential terms to certain investors, and the restrictions on transferring Interests without the General Partner's consent.

key_organizations:
Glendower
Access Fund
Underlying Fund


document_description: The document outlines the terms and conditions related to the Access Fund's obligations and rights in relation to the Underlying Fund managed by Glendower GP. It covers topics such as transfer restrictions, repayment of distributions, reinvestment rights, indemnity obligations, and multiple layers of expenses.

document_subtype: partnership agreement

key_organizations:
Glendower GP
Access Fund
Underlying Fund


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

document_subtype: investment document

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


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 administrative burdens on fund managers, which could impact investment returns. The document also addresses new market structure requirements applicable to derivatives as a result of the Dodd-Frank Act.

document_subtype: legal and regulatory risks

key_organizations:
Access Fund
Glendower GP
SEC
CFTC


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

key_locations:
European Union
Japan

document_subtype: financial regulation summary

key_organizations:
CFTC
Glendower
Underlying Fund
Access Fund


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 2017 Tax Legislation could significantly affect the taxation of investments, including limitations on interest expense deductibility, changes in corporate tax rates, and new definitions affecting foreign corporations. These changes may impact investment valuations and after-tax returns.

key_locations:
United States
Cayman Islands

document_subtype: legal memorandum

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


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

document_subtype: tax information

key_organizations:
Access Fund
IRS


document_description: The document discusses the implications of the Bipartisan Budget Act of 2015 on U.S. federal income tax audits of partnerships, known as the BBA Rules. It outlines how audits will be conducted at the partnership level and the potential tax liabilities for partners if the partnership does not elect an alternative procedure. The document also highlights other tax risks associated with investing in the Access Fund, including adverse changes in tax laws and the possibility of substantial taxation.

document_subtype: Partnership Audit Legislation Summary


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

document_subtype: tax considerations


document_description: This document provides a summary of certain U.S. federal income tax considerations related to an investment in the Access Fund. It discusses the applicability of the U.S. federal income tax code, existing U.S. Treasury Regulations, and judicial decisions as of the date of the memorandum. The document highlights that the IRS may take different positions on the tax considerations described and that no IRS ruling or counsel opinion has been obtained. It is intended for U.S. persons and does not cover all possible tax considerations, especially for non-U.S. persons or entities with special circumstances.

key_locations:
United States
District of Columbia


document_description: This document provides a summary of the expected U.S. federal income tax treatment for prospective investors in the Access Fund and the Underlying Fund, which are expected to be treated as partnerships for tax purposes. It outlines potential tax consequences, including the possibility of being taxed as a corporation if certain conditions are not met, and advises investors to consult their own tax advisors.

document_subtype: tax summary

key_organizations:
Access Fund
Underlying Fund
IRS


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

document_subtype: tax document


document_description: The document provides tax advisory information for non-corporate Limited Partners of the Access Fund, focusing on investment income treatment, investment interest limitations, passive activity loss limitations, at-risk limitations, and deductibility of expenses. It advises Limited Partners to consult tax advisors for specific tax situations.

document_subtype: tax advisory


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


document_description: Discussion on the tax implications of restructuring debt obligations and investments by the Access Fund, including potential taxable events, investment in derivatives, and implications for U.S. Tax-Exempt Investors. It also covers the potential classification of investments as Passive Foreign Investment Companies (PFIC) and the associated tax consequences.


document_description: This document discusses the tax implications for U.S. persons and U.S. Tax-Exempt Investors involved with Controlled Foreign Corporations (CFCs) and the Access Fund. It outlines the rules for U.S. shareholders of CFCs, the impact of the 2017 Tax Legislation on deferred earnings, and the treatment of foreign currency gains or losses. It also highlights the potential for Unrelated Business Taxable Income (UBTI) for U.S. Tax-Exempt Investors due to leverage or certain income-generating activities by the Access Fund.


document_description: The document discusses tax implications for U.S. Tax-Exempt Investors and Limited Partners in relation to 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 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 mentions potential legislative changes affecting the Access Fund.


document_description: This document is a memorandum discussing tax considerations and regulatory matters related to the Access Fund. It advises prospective Limited Partners to consult their own tax advisors regarding potential changes in tax legislation and highlights that the offer and sale of Interests will not be registered under the Securities Act. The document also discloses past regulatory issues involving Raymond James, a Placement Agent for the offering.

key_locations:
Puerto Rico
Virgin Islands
District of Columbia

document_subtype: memorandum

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


document_description: The document outlines the regulatory compliance and exemptions applicable to the Access Fund under various U.S. laws, including the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Commodity Exchange Act of 1974. It details the exemptions from registration requirements and the legal considerations for investors, including anti-money laundering compliance.

document_subtype: legal compliance and regulatory information

key_organizations:
Access Fund
General Partner
Investment Manager
National Futures Association


document_description: The document discusses regulatory concerns regarding the sources of funds used in investments and the requirements for investors to provide documentation verifying their sources of funds. It also addresses compliance with anti-money laundering laws and the European Union's Alternative Investment Fund Managers Directive. Additionally, it outlines considerations for ERISA plans investing in the Access Fund.

document_subtype: memo

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


document_description: The document discusses the implications of the 2017 Fiduciary Rule by the U.S. Department of Labor on investments by ERISA Plans and Individual Plans in the Access Fund. It outlines the responsibilities and potential prohibited transactions under ERISA and the Code, and the conditions under which the Seller's Exclusion applies. The document also addresses the fiduciary responsibilities of the General Partner and the potential impact of plan assets being treated as 'plan assets' under ERISA.

document_subtype: investment advisory

key_organizations:
U.S. Department of Labor
ERISA
Access Fund


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

document_subtype: ERISA compliance discussion


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

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

document_date: March 2018

document_subtype: Private Placement Memorandum Supplement

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


document_description: This document is a supplement to the Confidential Private Placement Memorandum for Glendower Access Secondary Opportunities IV (U.S.), L.P. It updates and modifies the original Memorandum, particularly regarding changes to the terms of the Access Fund. The Access Fund invests in Glendower Capital Secondary Opportunities Fund IV, LP, an English private fund limited partnership. The supplement allows investors to disclose tax treatment and structure to advisors and tax authorities but restricts disclosure of other information.

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 covered by the Access Fund, including management fees, legal costs, and other operational expenses.

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


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

document_subtype: legal document

key_organizations:
Access Fund
Underlying Fund


document_description: Amendments to the risk factors and potential conflicts of interest sections related to the Access Fund, including changes to indemnity obligations and repayment of distributions.

document_subtype: amendment notice

key_organizations:
Access Fund
Underlying Fund
Glendower GP


document_description: The document outlines the indemnity obligations of the Access Fund and the Underlying Fund, including the funding of these obligations through capital calls or return of distributions. It also discusses the expenses and management costs associated with the funds, which are borne by the Access Fund and indirectly by the Underlying Fund. The document highlights that certain expenses are not capped and are apart from a Limited Partner's Subscription.

document_subtype: Partnership Agreement


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

title: Underlying Fund Confidential Private Placement Memorandum

document_type: other


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

key_organizations:
Glendower Capital
Credit Suisse


document_description: This document is an amended and restated confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, detailing an investment opportunity in limited partner interests valued at $1,750,000,000. It is circulated by Glendower Capital LLP to a limited number of qualified prospective investors. The memorandum outlines the terms of the offering, including the merits and risks involved, and specifies that it is a financial promotion under the UK Financial Services and Markets Act 2000. It is intended for professional investors only and is not an approved prospectus under FSMA.

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

document_subtype: Private Placement Memorandum

key_organizations:
Glendower Capital LLP
UK Financial Conduct Authority


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

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


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the past performance of the SOF funds managed at Deutsche Bank, the forward-looking statements, legal and tax structure assumptions, and disclaimers regarding the offering. It emphasizes that the memorandum does not constitute an offer or solicitation in any jurisdiction where it is unlawful and that the fund's partnership agreement will control in case of inconsistencies. The document also notes that certain information has been obtained from published sources and has not been independently verified.

title: Confidential Private Placement Memorandum

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


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

key_locations:
New Hampshire
Florida

document_subtype: Confidential Private Placement Memorandum


document_description: Contact information for Glendower Capital and Credit Suisse Asset Management, including key personnel and addresses.

title: Glendower Capital Secondary Opportunities Fund IV, LP

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

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

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


document_description: This document is a table of contents for the Glendower Capital Secondary Opportunities Fund IV, LP, detailing sections on investment performance, fund management, risk factors, and legal considerations, among others.

document_subtype: Table of Contents


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

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


document_description: Glendower Capital Secondary Opportunities Fund IV, LP is being formed by Glendower Capital, an independent investment firm focused on secondary private markets. The fund seeks US$1.75 billion in commitments to generate returns through diverse investments in secondary markets, primarily in the U.S. and Europe. It is the fourth fund led by Carlo Pirzio-Biroli and Charles Smith, following their spin-out from Deutsche Asset Management in 2017.

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

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

key_locations:
U.S.
Europe
London
New York

key_organizations:
Glendower Capital
Deutsche Asset Management
Deutsche Bank


document_description: The document provides an executive summary of the Glendower Capital Secondary Opportunities Fund IV, LP, detailing its formation, investment strategy, and market opportunities. It highlights the spin-out of Glendower Capital from Deutsche Asset Management in 2017 and the continuation of the secondary investment strategy. The document discusses the benefits of secondary market investing and the current state of the secondary market, including transaction volumes and market pricing.

document_subtype: Executive Summary

key_organizations:
Glendower Capital
Deutsche Asset Management


document_description: The document outlines the investment strategy and focus areas of the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the fund's approach to bespoke liquidity solutions, GP-led secondary deals, and its distinctive investment strategy built around five main pillars. These include focusing on less competitive transactions, pursuing a true value approach, buying margin of safety, efficient portfolio management, and a barbell approach to portfolio construction. The document also emphasizes the fund's informational advantage, relationships with sellers, and ability to handle complex transactions.


document_description: The document provides an executive summary of the Glendower Capital Secondary Opportunities Fund IV, LP, highlighting its strong performance metrics as of September 30, 2017. It details the fund's track record, investment strategy, and team composition. The fund has shown top decile and quartile performances across various stages and funds, with significant gross multiples and IRRs. The document also outlines the experienced team and disciplined investment process of Glendower Capital.

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

key_locations:
London
New York


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

key_organizations:
Glendower Capital
Deutsche Bank


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

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


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

key_locations:
North America
Europe
Asia

document_subtype: Investment Performance Report


document_description: The document provides a performance analysis of the Glendower Capital Secondary Opportunities Fund M LP, comparing its performance against the Cambridge Associates Secondaries Benchmark and Global Buyout Benchmark as of September 30, 2017. It includes charts showing Net IRR and Net Multiple to Paid-in Capital for various years and specific funds.

title: Glendower Capital Secondary Opportunities Fund M LP Performance Report

document_subtype: investment performance report

key_organizations:
Glendower Capital
Cambridge Associates


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

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


document_description: The document compares the performance of the Glendower Capital Secondary Opportunities Fund IV, LP against public market indexes such as the MSCI World Index, Russell 2000 Index, and Thomson Reuters Private Equity Buyout Index. The comparison shows that the SOF Program and its components (SOF, SOF D, SOF II, and SOF III) have performed favorably compared to these public market indices.


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

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


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

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

document_subtype: Investment Fund Summary

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


document_description: Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, detailing investment opportunities and strategies.


document_description: The document outlines the investment strategy and objectives of the Glendower Capital Secondary Opportunities Fund IV, LP (SOF IV), which is established as a successor to the SOF Funds. The fund targets a diverse portfolio of investments in the secondary market, including buyout, growth capital, venture capital, and more. It focuses on three main strategies: Fund Secondaries, GP-led Secondaries, and Single Asset Deals, with a global target primarily in the U.S. and Europe. The fund aims for risk-adjusted returns in excess of 20% Net IRR.


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

key_locations:
North America
Europe
Asia and Pacific

key_organizations:
Glendower Capital
Wealth Management
Raymond James
Alex Brown


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


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

key_organizations:
Glendower Capital
Preqin
Greenhill


document_description: The document provides an analysis of the secondary market pricing trends from 2005 to 2017, highlighting the fluctuations in market pricing and volume. It discusses the impact of market conditions on pricing, such as the overheated market in 2006-2007 and the recovery post-2009 crisis. The analysis includes data on pricing as a percentage of NAV and annual market volume, emphasizing the stability of the market at a 10% discount to NAV from 2014 onwards.

title: Glendower Capital Secondary Opportunities Fund IV Analysis

document_subtype: financial analysis

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


document_description: The document provides an overview of the Glendower Capital Secondary Opportunities Fund IV, highlighting the balanced supply and demand in the secondary market, with an estimated US$125 billion in dry powder. It compares the secondary market's supply/demand balance to traditional private equity and discusses the diverse seller universe in 2017. The document includes tables showing dry powder and deal volume ratios for buyouts and secondaries.

title: Glendower Capital Secondary Opportunities Fund IV Overview

document_subtype: financial report

key_organizations:
Glendower Capital
Greenhill
Preqin
Bain & Company


document_description: The document provides a breakdown of seller composition for Glendower Capital Secondary Opportunities Fund IV, LP in 2017, highlighting the percentage of different seller types. It also discusses the emergence of tail-end sales and provides data on private equity assets by fund vintage year, indicating a significant supply of secondary opportunities in pre-crisis bubble funds.

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

key_organizations:
Glendower Capital
Greenhill Cogent
Preqin


document_description: The document discusses the growth and prominence of GP-led Secondaries, highlighting the volume and percentage of GP-led Secondaries from 2006 to 2017. It outlines factors driving the trend for general partners to organize liquidity solutions, such as the global financial crisis and the proactive approach of LPs in rebalancing portfolios. The document includes a table showing GP-led secondaries transaction volume from 2006 to 2017.

key_organizations:
Glendower Capital
Greenhill Cogent
Evercore


document_description: The document discusses the growth and challenges of GP-led Secondaries in the market, highlighting the complexities and risks involved. It emphasizes the importance of early communication, quality assets, and well-aligned managers for successful transactions. Glendower Capital takes a cautious approach, focusing on opportunities with strong alignment, diversified portfolios, and attractive cash flow.

key_organizations:
Glendower Capital
BC Partners
DIAMOND CASTLE
One Equity Partners
WARBURG Pincus
NORDIC CAPITAL
DUKE STREET
Long Point Capital
QUADRICA CAPITAL
ARCO REAL ESTATE
GMT
Pollen Street
ENHANCED HEALTHCARE
Zurmont Madison Capital


document_description: The document provides an analysis of the competitive environment for secondary market funds, focusing on Glendower Capital's positioning in the mid-sized segment. It discusses the advantages of mid-sized funds in building diversified portfolios and the challenges faced by smaller and larger funds. The document includes a table comparing strategies and fund sizes, and discusses sourcing strategies for investments.

document_subtype: investment fund analysis


document_description: The document outlines the investment strategy and process of the Glendower Capital Secondary Opportunities Fund IV, LP, focusing on mature fund interests with at least 50% drawn. It details the fund's approach to deal origination, due diligence, investment decision-making, and risk management. The fund aims to purchase funds through exclusive or minimally competitive transactions, leveraging its network of industry relationships.

key_organizations:
Glendower Capital
Glendower SOF Team


document_description: The document outlines the investment strategy and process for Glendower Capital Secondary Opportunities Fund IV, LP. It details the fund's approach to asset selection, due diligence, investment decision-making, and risk management. The fund focuses on identifying quality investment opportunities through a rigorous due diligence process and aims to align interests with fund sponsors and LPs. The document also describes the role of the Investment Committee in approving investments and the Glendower SOF Team's responsibilities in managing and closing transactions.


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


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


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

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


document_description: The document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the fund management structure, investment team, and investment committee. Glendower Capital is an independent investment firm focused on secondary private markets, formed by a team that spun out from Deutsche Asset Management. The document details the management and operation of the fund, including the roles of key team members and the investment committee's responsibilities.

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

key_organizations:
Glendower Capital
Deutsche Asset Management
FCA


document_description: This document provides information about the management team of Glendower Capital Secondary Opportunities Fund IV, LP, including the roles and backgrounds of key members such as Carlo Pinio-Biroll, Charles Smith, Adam Graev, Chi Cheung, Emilio Olmos, and Deirdre Davies. It outlines their previous experience, educational background, and responsibilities within the fund.

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

key_locations:
London
New York
Southern Europe
Middle East
Asia
Cambridge University
Columbia Business School
University of Rome
Colgate University
HEC Paris
Polytechnic University of Madrid

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


document_description: This document provides information about the senior team and their roles at Glendower Capital Secondary Opportunities Fund IV, LP. It includes details about the professional backgrounds and responsibilities of key team members such as Joshua Glaser, Francesco Rigamonti, Rikesh Mohandoss, Katherine Weaver, Victoria Loldi, Devrup Banerjee, and Aldrich Chan. The document highlights their previous experiences at institutions like Deutsche Bank, KPMG, and Goldman Sachs, and their educational qualifications from universities such as Tufts University, University of Chicago, and University of Oxford.

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

key_locations:
New York
Milan
London
South Africa
Italy

key_organizations:
Glendower Capital
Deutsche Bank
KPMG
Goldman Sachs
HSBC
Brookfield Office Properties
Trizec Properties
UBS Investment Bank


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

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

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


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

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


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

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

key_locations:
Cayman Islands
UK
U.S.
Europe

document_subtype: Summary of Terms and Conditions

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


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

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

key_people:
Charles Smith
Carlo Pirzioaroli
Adam Graev
Chi Cheung

document_subtype: Investment Terms and Conditions


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It details the General Partner's Share, applicable points for commitments, and distribution of net proceeds among partners. The document specifies the conditions under which the General Partner's Share is calculated and distributed, including reductions and special provisions for legacy investors. It also describes the distribution hierarchy for net proceeds from portfolio investments, including the role of the Special Limited Partner and the concept of 'Carried Interest'.


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

key_organizations:
Glendower Capital
Fund Advisory Committee


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on the Fund Advisory Committee, successor funds, allocation of investment opportunities, transfers and withdrawals, reporting and valuations, and disclosure of changes to leverage provisions. The document specifies the conditions under which successor funds can be closed, the allocation of investment opportunities among various platforms, and the restrictions on transfers and withdrawals by limited partners. It also details the reporting requirements and the process for disclosing changes to leverage provisions.

key_organizations:
Glendower Capital
Glendower Capital LLP


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on co-investment opportunities, the use of alternative vehicles for investments, the establishment of parallel and feeder funds, and the use of side letters to establish additional rights or alter terms for certain limited partners.


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on indemnification, removal of the General Partner, amendments to the Fund Partnership Agreement, default provisions, and the term of the fund. Key points include indemnification clauses for Covered Persons, conditions for the removal of the General Partner both for cause and no fault, and the process for amending the Fund Partnership Agreement. The document also specifies default consequences for Limited Partners and the fund's term duration.

key_people:
General Partner
Manager
Second GP


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on currency denomination, tax considerations for UK and US investors, ERISA considerations, risk factors, potential conflicts of interest, and information about special counsel and auditors for the fund.

key_organizations:
Glendower Capital
Debevoise & Plimpton LLP
PricewaterhouseCoopers LLP
Deloitte Touche Tohmatsu
KPMG
Ernst & Young LLP


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP, including the appointment of Aztec Financial Services (UK) Limited as the depositary and Credit Suisse Asset Management Limited as the global placement agent.

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


document_description: This document is a section from a confidential private placement memorandum detailing risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP.

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


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

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

document_subtype: Risk Factors


document_description: The document outlines various risk factors associated with investments made by the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the risks of leverage, investments in troubled and leveraged companies, venture capital investments, valuation issues, lack of liquidity, and the absence of an established market for secondaries investments. The document highlights the potential for high returns but also significant risks, including the possibility of losing the entire capital contribution.


document_description: The document outlines various risk factors associated with investing in secondary real estate and real estate-related assets through the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights risks such as economic changes, financing terms, environmental regulations, and contingent liabilities. It also discusses the multiple levels of expenses and the independent investment strategies of underlying funds.


document_description: This document outlines the risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the limited ability to negotiate secondary transaction terms, the potential for investments to extend beyond the fund's term, the nature of fund investments requiring long-term commitment, restrictions on transfer and withdrawal, and performance risks. The document emphasizes the high-risk nature of the investments and the lack of guarantees on returns.


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


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

key_organizations:
Glendower Capital
Deutsche Bank


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


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


document_description: The document outlines various risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the potential legal risks related to UK tax evasion and the implementation of procedures to prevent criminal facilitation of tax evasion. It also covers co-investment risks, counterparty risks, and the risks associated with investments via other entities. Additionally, it addresses the risk of dilution from subsequent closings and the indemnification of certain parties involved with the Fund.

key_organizations:
Glendower Capital
General Partner
Second GP
Manager
U.S. Adviser


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


document_description: The document outlines various risk factors associated with investments in emerging markets by the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights risks such as political instability, regulatory changes, currency risk, and differences in accounting standards. It also discusses the potential need for separate legal counsel due to conflicts of interest, the diverse interests of investors, and the sovereign status of certain investors which may complicate legal enforcement.

key_locations:
United States
United Kingdom

key_organizations:
Glendower Capital
Debevoise & Plimpton LLP


document_description: The document outlines risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the potential for side letters that may grant certain limited partners more favorable terms than others, including reporting obligations, withdrawal rights, and fee payments. The document also covers general market risks, economic conditions, interest rates, inflation, and deflation, and how these factors could impact the fund's investments.


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


document_description: This section of the Private Placement Memorandum outlines various risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses potential regulatory changes and their impact on the private investment industry, uncertainties surrounding Brexit and its implications for the asset management industry, and anti-money laundering compliance requirements. The document highlights the potential adverse effects of these factors on the Fund's operations, financial condition, and ability to achieve its investment objectives.

key_locations:
United Kingdom
European Union

key_organizations:
Glendower Capital
European Union


document_description: This document outlines various risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It covers risks related to electronic communications, cybersecurity threats, compliance with pay-to-play laws, and the nature of forward-looking information. The document emphasizes the potential for electronic communications to be compromised, the cybersecurity risks faced by the fund and its service providers, the implications of non-compliance with pay-to-play regulations, and the uncertainties associated with forward-looking statements.

key_organizations:
Glendower Capital
Credit Suisse Asset Management Limited


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


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

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


document_description: The document outlines potential conflicts of interest related to the investment activities of Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the role of the Manager and its affiliates in managing these conflicts, the involvement of the Fund Advisory Committee, and specific conflicts such as those among investors, broken deal expenses, investment by management team members, and carried interest.

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


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


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