document_description: This document is an investment memorandum for prospective investors in the Access Fund. It outlines the legal, tax, regulatory, financial, and accounting considerations for investment, and emphasizes the need for investors to consult their own advisors. The memorandum is not a prospectus and does not contain all necessary information for an investment decision. It includes summaries of the Partnership Agreement and Subscription Agreement, which are subject to change and should be reviewed for complete information. The General Partner reserves the right to modify the terms of the offering. The document also includes disclaimers regarding tax advice and the limitations of the information provided.

document_subtype: Investment Memorandum

key_organizations:
Access Fund
Underlying Fund
Glendower
Investment Manager
Placement Agents


source: doj

document_description: This document is a confidential memorandum related to an investment opportunity in the Access Fund. It outlines the terms and conditions for subscription, confidentiality obligations, and legal restrictions on the distribution and sale of interests. The minimum subscription amount is $250,000, but the General Partner may accept lesser amounts. The memorandum emphasizes the confidentiality of the information and the legal requirements for offering and selling interests in various jurisdictions.

document_type: correspondence

key_organizations:
Glendower
Underlying Fund
General Partner
Access Fund
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.

document_type: financial

document_subtype: investment memorandum

key_organizations:
Access Fund
Glendower


document_description: The document outlines the exemption of the General Partner from registration with the U.S. Commodity Futures Trading Commission (CFTC) as a Commodity Pool Operator (CPO) and Commodity Trading Advisor (CTA) under specific CFTC rules. It details the conditions under which the Access Fund operates, including limitations on marketing, investor qualifications, and commodity interest exposure. The document also notes that the CFTC has not reviewed or approved the offering or memorandum.

document_type: legal

document_subtype: exemption notice


document_description: The document discusses the aggregation of positions for CFTC position limit and large trader reporting purposes, including future requirements for swaps equivalent to commodity futures. It advises prospective investors to consult legal advisors regarding position aggregation and reporting requirements. The investment manager has filed a notice of exemption from CFTC registration as a CTA under specific CFTC rules, qualifying 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 confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP, including a supplement dated November 2017. It outlines the introduction, summary of principal terms of the access fund, certain risk factors and potential conflicts of interest, and tax, regulatory, and ERISA considerations.

title: Confidential Private Placement Memorandum

document_type: other


document_description: The document is an investment memorandum for Glendower Access Secondary Opportunities IV (U.S.), L.P., a Delaware limited partnership. It outlines the investment strategy of investing in Glendower Capital Secondary Opportunities Fund IV, LP, focusing on secondary market private equity funds. The memorandum includes information on investment objectives, risk factors, and potential conflicts of interest.

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

key_locations: Delaware England


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

title: Summary of Principal Terms of the Access Fund

key_people:
General Partner
Investment Manager

document_date: October 2017

document_subtype: Investment Summary

key_organizations: Glendower Access Secondary Opportunities IV GP LLC


document_description: This document is an investment memorandum for the Access Fund, detailing the management fee, investment management agreement, and the role of the Investment Manager. It outlines the purpose and business of the Access Fund, which is to invest in Glendower Capital Secondary Opportunities Fund IV, LP. The memorandum describes the investment objectives and strategies of the Underlying Fund, including the types of investments and the management of cash flows.


document_description: The document outlines the offering of limited partner interests in the Access Fund, a private placement for certain U.S. investors. It details 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 discusses the minimum subscription requirements for the Access Fund and the Underlying Fund, as well as potential tax considerations for non-U.S. investors.

document_subtype: Investment Offering

key_organizations:
Access Fund
Underlying Fund
General Partner
Limited Partners
Glendower GP


document_description: The document outlines the procedures for initial and subsequent closings of the Access Fund, managed by the General Partner. It details the conditions under which additional investors can be admitted or existing investors can increase their subscriptions in subsequent closings. It also specifies the financial obligations of investors joining after the initial closing, including capital contributions, management fees, and interest calculations.

document_subtype: investment fund document

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


document_description: The document outlines the investment terms and conditions for the Access Fund's investment 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

key_organizations:
Access Fund
Underlying Fund
Glendower GP


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


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 available to the Underlying Fund if the Access Fund defaults due to a Limited Partner's failure to contribute. The document also describes the bifurcated default process and the rights of the General Partner and Glendower GP in such events.

key_people:
General Partner
Investment Manager
Glendower GP

document_subtype: Partnership Agreement

key_organizations:
Access Fund
Underlying Fund


document_description: The document outlines the distribution and allocation procedures for the Access Fund, including the handling of distributions from the Underlying Fund, capital account maintenance, and organizational and offering expenses. It specifies the responsibilities of the General Partner and the allocation of expenses among the Limited Partners and the Access Fund.

key_organizations:
Access Fund
General Partner
Investment Manager


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

document_subtype: financial report

key_organizations:
Access Fund
Underlying Fund
General Partner
Investment Manager


document_description: This document outlines the financial responsibilities and fee structures for Limited Partners in relation to the Access Fund and Feeder Funds. It details how operating expenses, management fees, and other costs are allocated among Limited Partners, Feeder Funds, and the Access Fund. The document specifies that Limited Partners are responsible for their share of expenses and management fees, which are deducted from their Subscription. It also describes the allocation of expenses incurred by the General Partner or Investment Manager on behalf of the Access Fund and any Parallel Access Funds.

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 the rates applicable during different phases of the investment. The document also mentions the payment of fees to the Investment Manager and Placement Agents, and notes the exclusivity of these fees from the Underlying Fund Management Fee.

document_subtype: Investment Agreement

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 Raymond James Financial Services, Inc. as placement agents for the Access Fund, detailing the placement fees and marketing costs associated with the fund. It also describes the management fee structure for the Underlying Fund managed by Glendower.

document_subtype: Investment Document

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


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 conditions under which the Glendower GP receives carried interest, indemnification obligations, and the rules governing the transfer of interests.

document_subtype: Investment Fund Agreement


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

document_subtype: financial statement

key_organizations:
Access Fund
U.S. Internal Revenue Service


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

key_organizations:
Access Fund
General Partner


document_description: The document outlines potential amendments to a Partnership Agreement for an Access Fund, detailing conditions under which amendments can be made without adversely affecting Limited Partners. It also discusses voting rights and borrowing provisions for the Access Fund.

document_subtype: Partnership Agreement Amendment


document_description: The document discusses the borrowing capabilities and investor eligibility criteria for an Underlying Fund and an Access Fund. It outlines the potential difficulties the Access Fund may face in borrowing funds due to the Underlying Fund's existing credit facilities. It also specifies the confidentiality obligations of investors and the conditions under which tax-related information can be disclosed.

key_organizations:
Underlying Fund
Access Fund


document_description: The document outlines the roles and responsibilities of various parties involved in the Access Fund, including the General Partner, Limited Partners, legal counsel, auditor, administrator, and custodian. It specifies the sharing of information among these parties and highlights the legal counsel provided by Cleary Gottlieb Steen & Hamilton LLP and Maples and Calder. It also mentions the auditing role of KPMG or another recognized firm.

document_subtype: Investor Information

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


document_description: The document outlines certain risk factors and potential conflicts of interest associated with investing in the Access Fund. It highlights business and market risks, as well as conflicts of interest related to placement agents like Raymond James, who receive fees for introducing investors to the fund. The document emphasizes the speculative nature of the investment and the potential for substantial losses.

key_organizations:
Access Fund
Underlying Fund
General Partner
Investment Manager
Raymond James
Glendower


document_description: The document discusses the risks and conflicts of interest associated with investing in the Access Fund, which is designed to facilitate investment into the Underlying Fund. It highlights that the Access Fund will not be registered under various securities laws, will issue illiquid securities, and investors may lose their entire investment. The document also notes that the Access Fund's performance is dependent on the Underlying Fund, and investors will not have direct rights or control over the Underlying Fund.

key_organizations:
Raymond James
Glendower
Access Fund
Underlying Fund


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:
Access Fund
Underlying Fund
iCapital Securities, LLC
Glendower GP


document_description: The document discusses the roles and responsibilities of the General Partner and the Investment Manager in managing investment funds, including potential conflicts of interest, management of other funds with similar strategies, and valuation of assets. It highlights the use of registered investment advisers or Placement Agents for marketing, potential conflicts due to relationships with iCapital Network, and the management of other funds or Managed Accounts with similar strategies. It also addresses the valuation process for the Access Fund's assets, emphasizing the uncertainties involved in valuing illiquid investments.

key_organizations:
General Partner
Investment Manager
iCapital Network
Glendower


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

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


document_description: The document discusses the potential risks and legal implications for the Access Fund, a private equity fund, in relation to ERISA controlled group liability. It references the 2013 Sun Capital Case and a 2016 District Court ruling, highlighting the risk of being classified as a 'trade or business' and forming a 'partnership-in-fact.' The document also outlines the lack of recourse for Limited Partners against the Underlying Fund, restrictions on transferability or redemption of interests, and the lack of voting rights or participation in the Underlying Fund's management. It emphasizes the investment concentration risk due to the Access Fund's sole investment in the Underlying Fund.

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

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

document_subtype: legal analysis

key_organizations:
Access Fund
Underlying Fund
Glendower


document_description: The document discusses the 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: This document outlines the financial obligations and rights of the Access Fund and its Limited Partners in relation to the Underlying Fund managed by Glendower GP. It covers topics such as repayment of distributions, reinvestment rights, indemnity obligations, and multiple layers of expenses. The document specifies that the Access Fund may need to repay distributions, make additional capital contributions, and indemnify various parties. It also highlights that expenses and management costs will be borne by the Access Fund and that certain obligations are not capped.

key_organizations:
Glendower GP
Access Fund
Underlying Fund


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

document_subtype: investment memorandum

key_organizations:
Access Fund
Underlying Fund


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 governmental scrutiny and regulatory changes that could impose administrative burdens and affect investment returns. The document also addresses new market structure requirements applicable to derivatives.

document_subtype: regulatory compliance

key_organizations:
Access Fund
Glendower GP
General Partner
Investment Manager
SEC
CFTC


document_description: The document discusses changes in financial regulations affecting OTC derivatives, 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 using OTC derivatives. The document also covers the Dodd-Frank Act's expansion of the CFTC's authority to impose position limits on derivatives.

key_locations:
European Union
Japan

document_subtype: financial regulation 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, specifically the 2017 Tax Legislation, on the Access Fund and its investments. It highlights the increased costs and reduced exposure due to new position limits and aggregation requirements, as well as the potential adverse effects on liquidity and execution pricing. The document also outlines the legal representation for the Access Fund and advises prospective investors to seek independent legal, tax, and financial advice.

key_locations:
United States
Cayman Islands

document_subtype: legal memorandum

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


document_description: This document provides tax-related information for Limited Partners of the Access Fund, including implications of the 2017 Tax Legislation, phantom income, tax-exempt investors, non-U.S. investors, and FATCA compliance. It advises consulting tax advisors for specific circumstances.

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 potential adverse changes in tax laws and the possibility of substantial taxation.

document_subtype: tax legislation summary


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

key_people:
Limited Partners
General Partner

document_subtype: tax document


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

key_locations:
United States
District of Columbia

document_subtype: tax considerations


document_description: This document provides a summary of the U.S. federal income tax consequences for prospective investors in the Access Fund and the Underlying Fund, which are expected to be treated as partnerships for tax purposes. It advises investors to consult their own tax advisors and discusses potential risks of the Funds being treated as corporations for tax purposes.

document_subtype: tax summary

key_organizations:
Access Fund
Underlying Fund
IRS


document_description: This document discusses the tax consequences of the Access Fund's investments, activities, income, gain, and loss, including indirect investments as a limited partner of the underlying fund. It covers topics such as the tax basis of a limited partner's interests, distributions, and allocations of income and loss to limited partners. The document emphasizes the conditions under which distributions are taxable and the rules for recognizing gain or loss. It also discusses the allocation of income and loss according to the partnership agreement and the potential for IRS challenges.


document_description: The document discusses the tax implications and considerations for Limited Partners in the sale of interests in the Access Fund. It covers capital gains, tax basis adjustments, and limitations on the deductibility of interest expenses.


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


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


document_description: The document discusses the tax implications of restructuring debt obligations and investments by the Access Fund. It highlights potential taxable events, the impact of investing in derivatives, partnerships, and passive foreign investment companies (PFICs). It also addresses the 20% deduction for qualified business income and the tax consequences for U.S. Tax-Exempt Investors and Limited Partners.


document_description: This document discusses the tax implications for U.S. persons and U.S. Tax-Exempt Investors involved with Controlled Foreign Corporations (CFCs) and the Access Fund. It outlines the rules for U.S. Shareholders of CFCs, including the need to include certain earnings in gross income and the treatment of gains as dividend income. It also covers the impact of the 2017 Tax Legislation on deferred earnings and the tax treatment of foreign currency gains or losses. Additionally, it warns U.S. Tax-Exempt Investors about potential Unrelated Business Taxable Income (UBTI) due to leverage and other income-generating activities by the Access Fund.


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


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


document_description: The document is an investment memorandum for the Access Fund, discussing U.S. federal income tax rules, regulatory matters, and the offering of Interests under the Securities Act of 1933. It highlights the lack of registration for the offer and sale of Interests, reliance on exemptions, and the requirement for investors to be accredited. It also discloses past regulatory issues with Raymond James, a Placement Agent, related to auction rate securities.

key_locations:
United States
Puerto Rico
Virgin Islands
District of Columbia

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


document_description: The document outlines the legal compliance and exemption status of the Access Fund under various U.S. financial regulations, including the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Commodity Exchange Act of 1974. It details the exemptions claimed by the Access Fund and its General Partner from registration requirements, and the legal considerations for investors, including anti-money laundering compliance.

document_subtype: legal compliance and exemption summary

key_organizations:
Access Fund
General Partner
Investment Manager
National Futures Association


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

document_subtype: memo

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


document_description: The document discusses the implications of investing in the Access Fund for ERISA Plans and Individual Plans, focusing on fiduciary responsibilities and potential prohibited transactions under ERISA and the Code. It also addresses the impact of the 2017 Fiduciary Rule on fiduciary relationships and the conditions under which the Access Fund's assets may be considered 'plan assets.'

document_subtype: investment advisory

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


document_description: The document discusses the implications of ERISA (Employee Retirement Income Security Act) on investments in the Access Fund, particularly focusing on the classification of assets as 'plan assets' and the fiduciary responsibilities that may arise. It highlights the need for ERISA Plan investors to report certain compensations and advises fiduciaries to consult legal counsel regarding investments in the Access Fund.

document_subtype: ERISA compliance discussion


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

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

document_date: March 2018

document_subtype: Private Placement Memorandum Supplement

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


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

document_subtype: Supplement to Private Placement Memorandum

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


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

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


document_description: 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. The document also explains the indemnification process and the conditions under which Limited Partners may be required to return distributions to cover liabilities or obligations of the Access Fund.

document_subtype: Partnership Agreement


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

document_subtype: amendment

key_organizations:
Access Fund
Underlying Fund
Glendower GP


document_description: The document outlines the indemnity obligations of the Access Fund and the Underlying Fund, including the funding of indemnification claims through capital calls or return of distributions. It also discusses the expenses and management costs associated with the Access Fund and the Underlying Fund, and the obligations of Limited Partners to fund these expenses.


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

document_subtype: Confidential Private Placement Memorandum

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, dated March 2018. It is intended for a limited number of qualified prospective investors to evaluate an investment in the fund's limited partner interests. The memorandum is circulated by Glendower Capital LLP, authorized and regulated by the UK Financial Conduct Authority. It includes details on the fund's financial promotion under the UK Financial Services and Markets Act 2000 and outlines the terms, merits, and risks of the offering. The document emphasizes the confidentiality of its contents and the requirement for investors to rely on their own examination of the fund.

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

document_subtype: Private Placement Memorandum

key_organizations:
Glendower Capital LLP
UK Financial Conduct Authority


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

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


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the past performance of the SOF funds managed by Glendower Capital and the U.S. Adviser, who were formerly part of Deutsche Bank. The memorandum includes forward-looking statements and clarifies that the legal and tax structure for the fund's activities is assumed to be fully implemented. It also states that the manager is awaiting final authorization from the FCA as an Alternative Investment Fund Manager. The memorandum does not constitute an offer or solicitation in any jurisdiction where it is unlawful, and the terms may be modified at any time. The information is compiled as of the date of the memorandum and has not been independently verified by Credit Suisse or its affiliates.

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


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the exemption of Glendower Capital, LLP and the General Partner from registration with the U.S. Commodity Futures Trading Commission (CFTC) as a Commodity Pool Operator (CPO) under specific CFTC regulations. The memorandum is prepared by representatives of the fund and furnished by Credit Suisse as a placement agent. It details the roles and limitations of Credit Suisse in this capacity and advises potential investors to make their own investment decisions. The document also clarifies that the CFTC has not reviewed or approved the offering or the memorandum.


document_description: The document is a confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, detailing participation as a placement agent by Credit Suisse. It discusses potential conflicts of interest, tax advice disclaimers, and legal notices for New Hampshire and Florida residents.

key_locations:
New Hampshire
Florida


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

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

document_type: tabular

document_subtype: Table of Contents


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 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 attractive risk-adjusted returns through a diverse portfolio of investments in the secondary market. It targets acquisitions in private equity fund structures and co-investments globally, primarily in the U.S. and Europe. This is the first dedicated secondary fund raised outside of Deutsche Asset Management by the Managing Partners and the Glendower SOF Team.

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 is a confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the history and strategy of the fund, including its spin-out from Deutsche Asset Management in 2017. The memorandum highlights the benefits of secondary market investing, such as capitalizing on information asymmetries and mitigating blind pool risk. It also discusses the favorable supply-demand balance in the secondary market and the stable pricing at approximately 90% of Fair Market Value since 2010.

key_organizations:
Glendower Capital
Deutsche Asset Management


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


document_description: The document provides an executive summary of the Glendower Capital Secondary Opportunities Fund IV, LP, highlighting its strong performance metrics as of September 30, 2017. It details the fund's track record, investment strategy, and team experience. The fund has shown top decile and quartile performances across various stages and funds, with significant IRR and TVPI metrics. The document also outlines the team's experience, investment process, and historical involvement in Deutsche Bank's private equity restructuring.

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. It outlines the fund's strategy of leveraging relationships with over 180 fund sponsors to conduct a rigorous, value-driven analysis of portfolio companies. The fund focuses on operational, financial, and market risk analysis, cash flow analysis, and management review. It aims to identify investment opportunities with aligned interests between fund sponsors and investors. The document also highlights the strong alignment of interests between the Glendower SOF Team and investors, with senior members committing a minimum of 1.0% of the fund and receiving all carried interest. Deutsche Bank will not be involved in the management of the fund. Key terms, risks, and potential conflicts of interest are noted for further review in other sections of the memorandum.

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 SOF Program as of September 30, 2017.

document_subtype: Investment Performance Report


document_description: The document provides a performance analysis of the Glendower Capital Secondary Opportunities Fund (SOF) and its variants (SOF D, SOF II, SOF III) as of September 30, 2017. It benchmarks these funds against their vintage peer groups using Cambridge Associates Secondaries and Global Buyout Benchmark statistics. The SOF funds show strong Net IRR, DPI, and TVPI across vintage years, with specific performance metrics detailed in charts. The document emphasizes that past performance is not indicative of future results and includes unaudited data.

title: Glendower Capital Secondary Opportunities Fund Performance

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 at around 16 quarters, with Net IRR stabilizing at 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.


document_description: The document compares the performance of the Glendower Capital Secondary Opportunities Fund IV, LP (SOF Program) against public market indexes such as the MSCI World Index, Russell 2000 Index, and Thomson Reuters Private Equity Buyout Index. The SOF Program and its components (SOF, SOF D, SOF II, SOF III) show favorable performance compared to these indices. The document includes a table showing the net IRR for each category and discusses the methodology used for comparison.

title: Scotian 2: Investment Performance

document_subtype: investment performance report


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


document_description: The document outlines the investment strategy for 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 to achieve attractive risk-adjusted returns. The fund focuses on non-monetary factors such as confidentiality and speed, particularly relevant for sellers in distressed conditions. The document includes data on the geographical distribution of assets and sellers, and highlights the fund's extensive industry network and disciplined deal selection process.

key_locations:
North America
Europe
Asia and Pacific

key_organizations:
Glendower Capital
Wealth Management
Raymond James
Alex Brown


document_description: The document discusses the attractiveness of secondary investments in private equity portfolios, highlighting benefits such as pricing flexibility, mitigation of blind pool risk, and mitigation of the J-curve effect. It also outlines the secondary market investment opportunity, noting the illiquid nature of private equity assets and the dynamics creating opportunities for secondary 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 discusses the growth and pricing dynamics of the secondary private equity market, highlighting the NAV and unfunded amounts, and providing a table of unrealized portfolio values and dry powder from 2007 to 2017. It also covers secondary market pricing trends and factors influencing pricing decisions.

document_subtype: financial report

key_organizations:
Glendower Capital
Greenhill

reference_numbers: 2018 Preqin Global Private Equity & Venture Capital Report

reference_numbers: 2016 Preqin Global Private Equity & Venture Capital Report

reference_numbers: Greenhill Secondary Market Trends & Outlook, January 2018

reference_numbers: Dow Jones Private Equity Analyst Guide to the Secondary Market, June 2017


document_description: The document provides an analysis of secondary market pricing trends from 2005 to 2017, highlighting the fluctuations in market pricing and volume, particularly during the financial crisis and subsequent recovery. It discusses the impact of cash flows, mark-to-market pricing, and the resulting effective discounts for buyers. The analysis includes data on annual volume and pricing as a percentage of NAV, with insights into market stability and transaction ranges.

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

document_subtype: financial analysis

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


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

key_organizations:
Glendower Capital
Greenhill
Preqin
Bain & Company


document_description: The document provides a breakdown of seller composition and funds marketed by vintage for Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the emergence of traditional secondary buyers and funds-of-funds entering the market as sellers, with motivations to wind down older vehicles. Exhibits include seller type percentages, funds marketed by vintage, and private equity assets by fund vintage year.

title: Glendower Capital Secondary Opportunities Fund IV, LP - Seller Composition and Fund Vintage Analysis


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

key_organizations:
Glendower Capital
Greenhill Cogent
Evercore


document_description: The document discusses the 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
EGT
One Equity Partners
WARBURG PINCUS
NORDIC CAPITAL
DUKE STREET
LON POINT
CATAL
QUADRICA CAPITAL
ARCO REAL ESTATE
GMT
Pollen Street
ENHANCED HEALTHCARE PARTNERS
Zurmont Madison Capital


document_description: The document discusses the competitive environment of the secondary market for funds, focusing on Glendower Capital's positioning in the mid-sized segment. It includes a table categorizing funds by size and strategy, and describes sourcing strategies for investments.


document_description: The document outlines the investment strategy and process of Glendower Capital Secondary Opportunities Fund IV, LP, focusing on mature fund interests with at least 50% drawn. It details the investment process including deal origination, screening, investment decision, monitoring, and realization. The fund aims to purchase funds through exclusive or minimally competitive transactions using its network of industry relationships.

document_subtype: investment memorandum


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 quality assets, alignment of interests, reasonable leverage, and attractive entry multiples. The due diligence process includes operational, financial, and market risk analysis, cash flow analysis, and management review. The investment decision involves an Investment Committee, and post-acquisition, the fund actively manages investments, including currency hedging.


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


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

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


document_description: The document is a section from the Confidential Private Placement Memorandum for 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 in 2017. The fund will be managed by Glendower Capital from the UK, with an investment team of 16 professionals and an investment committee responsible for evaluating and approving investments.

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

key_locations:
London
New York
UK

key_organizations:
Glendower Capital
Deutsche Asset Management
FCA


document_description: The document provides information about the management and key members of the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details about the roles and backgrounds of the investment committee members and other professionals at Glendower Capital.

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

key_locations:
London
New York
Southern Europe
Middle East
Asia

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


document_description: The document provides an overview of key personnel at Glendower Capital Secondary Opportunities Fund IV, LP, detailing their roles, responsibilities, and professional backgrounds. It includes information about fund management and investor relations for the secondary private equity business.

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

key_locations:
New York
South Africa
Milan
London

key_organizations:
Glendower Capital
KPMG
Deutsche Asset Management
Paul Capital
Forum Capital
CIBC Oppenheimer
Gallo & Co.
Deutsche Bank
Bank of America
Federal Home Loan Mortgage Corporation
Brookfield Office Properties
Trizec Properties
Deloitte & Touche
HSBC
Goldman Sachs
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 Enriquez-Hesles
Sheldon Lee

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


document_description: This document is a summary of terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP, as part of a 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 and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the investment objectives, the roles of the General Partner and the Manager, and the structure of the Fund. The Fund aims to generate attractive risk-adjusted returns through various investment strategies in the secondary market, primarily in the U.S. and Europe.

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

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

key_locations:
Cayman Islands
UK
U.S.
Europe


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP, including details about the General Partner's share, commitments, minimum commitment, Glendower Capital investment, closings, subsequent closing partners, and drawdowns. It specifies the roles of the Adviser and Manager, the commitment amounts, and the process for closings and drawdowns.

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

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


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

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 includes investment restrictions, indebtedness policies, hedging strategies, and the allocation of the General Partner's share. Key points include limitations on investment percentages in various types of deals, borrowing strategies for short-term and long-term needs, and the use of leverage and hedging techniques. The document also details the profit share allocation to the General Partner and the Second GP, including specific percentages during and after the investment period.

key_people:
General Partner
Second GP


document_description: This document outlines the terms and conditions for the Glendower Capital Secondary Opportunities Fund IV, LP. It details the General Partner's Share, applicable points for commitments, and distribution of net proceeds. The General Partner's Share is calculated based on the invested capital and is subject to reduction under certain conditions. Distributions are made to partners based on their proportionate share and are structured to provide a specific internal rate of return before sharing profits with the Special Limited Partner.

key_people:
General Partner
Special Limited Partner

key_organizations:
Glendower Capital
Feeder Fund
SOF III


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

document_subtype: Summary of Terms and Conditions

key_organizations:
Glendower Capital
General Partner
Special Limited Partner
Manager
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 roles and responsibilities of the Manager and the rights of Limited Partners.

title: Glendower Capital Secondary Opportunities Fund IV. LP


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


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

key_people:
General Partner
Manager
Second GP


document_description: This document is a summary of 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_locations: UK US

key_organizations:
Glendower Capital
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 AIFMD-compliant 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 the Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP, focusing on risk factors associated with the investment.

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. It highlights the substantial risks involved, including the potential for loss of investment, the complex nature of due diligence and valuation in GP-led secondaries, and the reliance on management of portfolio companies. It also discusses the potential termination of the Fund's interest in underlying funds if capital calls are not met.

title: Risk Factors - Glendower Capital Secondary Opportunities Fund

document_subtype: investment risk disclosure


document_description: This section outlines the risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the potential 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 speculative nature of these investments and the potential for significant financial loss.

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


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


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

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

key_organizations:
Glendower Capital
SOF Funds


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


document_description: This section of the memorandum outlines various risk factors associated with investing in the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights the competitive nature of the fund's business, dependence on the manager and key personnel, lack of operating history, and prior affiliation with Deutsche Bank. 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_people:
Manager
Key Persons
General Partner

key_organizations:
Glendower Capital
Deutsche Bank


document_description: This document outlines the risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights valuation risks due to the nature of private equity assets, absence of Investment Company Act protection, tax risks including potential unforeseen taxation and withholding taxes, and the impact of Base Erosion and Profit Shifting (BEPS) initiatives. The document emphasizes the inherent uncertainties in investment valuations and potential tax implications for investors.

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


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

key_locations:
United States
United Kingdom


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

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

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

document_subtype: Risk Factors


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


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


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

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


document_description: The 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. The document highlights potential challenges such as reduced returns due to deflation, currency exchange rate fluctuations, disruptions in debt markets affecting financing and exit opportunities, and evolving legal and regulatory environments impacting the fund's strategy and investment value.

document_date: unknown


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

key_locations:
UK
European Union

key_organizations:
Glendower Capital
European Union


document_description: The document outlines risk factors associated with the Glendower Capital Secondary Opportunities Fund IV, LP, including risks related to electronic communications, cybersecurity threats, and compliance with pay-to-play laws. It also discusses the nature of forward-looking information provided to investors.

key_organizations:
Glendower Capital
U.S. Adviser
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

key_people:
Manager
General Partner
Fund Advisory Committee


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

key_organizations:
Glendower Capital
Fund Advisory Committee


document_description: This document is a section of a confidential private placement memorandum for Glendower Capital Secondary Opportunities Fund III, LP, focusing on legal, ERISA, and tax considerations.

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


document_description: This document outlines the legal, ERISA, and tax considerations for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes details on valuation practices, fair treatment of investors, liquidity management, and professional liability risk. The fund is governed by English law and is registered under the Limited Partnerships Act 1907.

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

key_organizations:
Glendower Capital
Valuation Committee


document_description: This document outlines the legal and financial framework for the Glendower Capital Secondary Opportunities Fund IV, LP, a private fund limited partnership governed by English law. It details the jurisdictional agreements, investor obligations, leverage policies, and periodic disclosure requirements. The document specifies that the Fund may employ leverage up to 400% by the gross method and 300% by the commitment method, and outlines the conditions under which foreign judgments are recognized by English courts.

key_locations: England Wales


document_description: The document outlines legal and financial details of the Glendower Capital Secondary Opportunities Fund IV, LP, including risk management, leverage policies, and the role of the Depositary. It specifies that no investors have been admitted, and thus there is no net asset value or historical performance data. Aztec Financial Services (UK) Limited is named as the Depositary, with specific duties and liabilities outlined.

key_organizations:
Glendower Capital
Aztec Financial Services (UK) Limited


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund N. LP. It outlines the securities law matters related to the offering of interests in the fund, which will not be registered under the Securities Act of 1933 or any other securities laws. The document details the reliance on exemptions for private offerings and the requirement for investors to be accredited. It also includes disclosures related to past legal matters involving Credit Suisse and Raymond James concerning auction rate securities.

key_locations:
New York
Puerto Rico
Virgin Islands
District of Columbia


document_description: The document outlines legal considerations for Glembwer Capital Secondary Opportunities Fund N, LP, including compliance with the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the U.S. Investment Advisers Act of 1940. It discusses the requirements for SEC filings, exemptions from registration, and restrictions on offers and sales of interests to ensure compliance with U.S. regulations.

title: Certain Legal, ERISA and Tax Considerations

document_subtype: Legal Considerations


document_description: The document discusses legal considerations related to the Glendower Capital Secondary Opportunities Fund IV, LP, including exemptions from registration with the U.S. Commodity Futures Trading Commission (CFTC) and ERISA considerations for fiduciaries of employee benefit plans. It outlines the fiduciary duties under ERISA, the prudence and diversification requirements, and the implications of plan assets under ERISA regulations.

reference_numbers: Section 4975 of the U.S. Internal Revenue Code of 1986


document_description: This document outlines certain legal, ERISA, and tax considerations for investors in the Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the 25% Test for Benefit Plan Investors under ERISA, the requirement for plan administrators to report compensation on Form 5500, and U.S. federal income tax considerations for the Fund, including its treatment as a partnership and the implications of the Bipartisan Budget Act of 2015 on partnership audit rules.


document_description: The document discusses the tax considerations and legal implications for investors in the Glendower Capital Secondary Opportunities Fund IV, LP. It covers topics such as partnership audit procedures, the impact of adjustments on partners, the Push-Out Election, and the treatment of non-U.S. corporations as passive foreign investment companies (PFICs) and controlled foreign corporations (CFCs). It also addresses the restrictions on the deductibility of expenses and other losses for U.S. federal income tax purposes.


document_description: This document discusses the ERISA and tax considerations for the Glendower Capital Secondary Opportunities Fund IV, LP. It covers topics such as the deductibility of organizational expenses, limitations on investment interest expense deductions, qualified business income deductions, and the implications for ERISA plans and other tax-exempt limited partners. It also addresses U.S. federal income tax considerations for non-U.S. investors, including withholding tax rates and effectively connected income.


document_description: This document is a section from the Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It discusses the tax implications for non-U.S. investors in the fund, particularly regarding effectively connected income (ECI) and U.S. real property holding corporations. It outlines the tax rates applicable to non-U.S. investors, potential withholding taxes, and the branch profits tax. The document also covers reporting requirements for U.S. investors, including forms 8865, 926, and 8938, and the implications of reportable transactions under U.S. federal tax rules.

reference_numbers:
Form 8865
Form 926
Form 8938


document_description: This section of the memorandum discusses the legal, ERISA, and tax considerations for investors in the Glendower Capital Secondary Opportunities Fund IV, LP. It highlights potential penalties for non-compliance with tax laws, the complexity of UK tax considerations, and the responsibilities of investors regarding tax reporting and liabilities. The fund is structured as an English limited partnership for tax purposes, and investors are advised to consult with tax advisers.


document_description: The document outlines the tax considerations for UK resident investors in the Glendower Capital Secondary Opportunities Fund. It discusses the requirements for obtaining a Unique Taxpayer Reference (UTR) from HM Revenue & Customs, the taxation of income and capital gains for UK investors, and the implications of the Taxation (International and Other Provisions) Act 2010 and the Offshore Funds (Tax) Regulations 2009.

document_subtype: tax considerations


document_description: This document outlines the ERISA and tax considerations for investors in the Glendower Capital Secondary Opportunities Fund IV, LP, particularly focusing on offshore fund rules, UK tax implications for various types of investors, and inheritance tax considerations.


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

key_locations:
United Kingdom
United States


document_description: This section discusses the tax implications for investors in the Glendower Capital Secondary Opportunities Fund N. LP, including withholding taxes and considerations for alternative investment vehicles. It advises investors to consult their tax advisers.

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


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).

title: Confidential Private Placement Memorandum


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


document_description: This document is a memorandum from Glendower Capital Secondary Opportunities Fund IV, LP, detailing notices to investors in specific jurisdictions. It outlines the legal restrictions on the distribution and sale of interests in certain jurisdictions, particularly within the European Economic Area, Denmark, Finland, and Germany. The memorandum emphasizes compliance with local laws and regulations, confidentiality provisions, and the classification of investors as professional or semi-professional.

key_locations:
European Economic Area
Denmark
Finland
Germany

document_subtype: Memorandum


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

key_locations:
The Netherlands
Sweden
United Kingdom
Australia
Bahrain

key_organizations:
Glendower Capital
Finansinspektionen
FCA
Central Bank of Bahrain


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

key_locations:
Brazil
Brunei Darussalam
Canada
Cayman Islands
Chile
China
Colombia

key_organizations: Securities and Insurance Supervisory Authority of Chile

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


document_description: This document is a Confidential Private Placement Memorandum for the Glendower Capital Secondary Opportunities Fund N. LP, governed by Colombian law. It outlines the legal and regulatory framework for offering interests in the fund to fewer than one hundred specifically identified investors in Colombia, ensuring compliance with Colombian securities laws. The memorandum also addresses the regulatory status of the fund in the Dubai International Financial Centre, stating that it is not regulated by the DIFC or DFSA. The document emphasizes the need for prospective investors to conduct due diligence and consult financial advisors if necessary.

key_locations: Colombia Dubai

key_organizations: Financial Supervisory Authority of Colombia


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal and regulatory considerations for offering interests in various jurisdictions including Guernsey, Haiti, Hong Kong, Israel, and Japan. The memorandum specifies that it is not approved by relevant financial authorities in these regions and is intended for professional investors only. It emphasizes that the document does not constitute financial advice and highlights the restrictions on transferability and resale of interests.

key_locations:
Guernsey
Haiti
Hong Kong
Israel
Japan

key_organizations: Securities and Futures Commission in Hong Kong


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal restrictions and conditions under which the fund's interests can be offered and sold in Japan, Kuwait, and Mexico. The memorandum specifies the reliance on exemptions under the Financial Instruments and Exchange Law (FIEL) in Japan, restrictions in Kuwait under Law No. 7 of 2010, and compliance with the Mexican Securities Market Law. It emphasizes the confidentiality of the document and the risks associated with the investment.

key_locations: Japan Kuwait Mexico

key_organizations: Credit Suisse Securities (Japan) Limited

key_organizations: Mexican Banking and Securities Commission


document_description: This document is a Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal considerations and restrictions for offering and selling interests in various jurisdictions including Mexico, Monaco, New Zealand, and Oman. The document specifies that the offering must comply with local securities laws and regulations, and it is intended for sophisticated investors only. It also includes disclaimers about the lack of registration or approval by local authorities in these regions.

key_locations:
Mexico
Monaco
New Zealand
Oman

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


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

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

key_organizations: Qatar Financial Centre Regulatory Authority


document_description: This document is a Confidential Private Placement Memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the legal and regulatory considerations for offering and selling interests in the fund in Korea, St. Kitts and Nevis, and Switzerland. The memorandum specifies that the fund is not registered with the respective financial authorities in these regions and highlights the legal requirements and risks involved for investors. It also details the roles of the representative and paying agent in Switzerland, as well as the distribution and retrocession payment policies.

key_locations:
Korea
St. Kitts and Nevis
Switzerland
Geneva

key_organizations: Swiss Financial Market Supervisory Authority


document_description: This document is a Confidential Private Placement Memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It outlines the terms and conditions for investors, including information on rebates for Limited Partners, restrictions on offering in Taiwan and the UAE, and legal disclaimers for the USA. The memorandum emphasizes that the fund is not regulated by UAE authorities and provides guidance for prospective investors to seek professional advice.

key_locations:
Switzerland
Taiwan
United Arab Emirates
United States of America

key_organizations: Central Bank of the United Arab Emirates

key_organizations: UAE Securities and Commodities Authority


document_description: The document is a Confidential Private Placement Memorandum for Glendower Capital Secondary Opportunities Fund IV, LP. It outlines that the Interests are not registered under the Securities Act or any state or other securities laws and are offered only to qualifying recipients under specific exemptions. The document emphasizes the risks and restrictions associated with the investment, including the lack of a public market and the indefinite period for bearing financial risks.


document_description: This document is a privacy notice for investors in the Glendower Capital Secondary Opportunities Fund. It outlines how personal data of investors, both natural and non-natural persons, will be processed and shared. The notice specifies the data controller's responsibilities, the types of personal data collected, the reasons for data processing, and the entities with whom data may be shared. It also covers data transfer outside the EEA and the retention period of personal data. Investors' rights regarding their personal data are also detailed.

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

document_subtype: Privacy Notice


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

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

document_subtype: Confidential Private Placement Memorandum

key_organizations:
Glendower Capital LLP
UK Information Commissioner's Office


document_description: The document outlines the anti-money laundering (AML) policies and procedures for Glendower Capital Secondary Opportunities Fund IV, LP. It details the responsibilities of the Manager to prevent the fund from being used for money laundering or illicit purposes, including verification of investor identities and sources of funds. It also covers compliance with economic sanction regulations and the requirement for investors to make representations and warranties regarding sanctions.

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

document_subtype: Anti-Money Laundering Policy


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

title: Appendix 4 Key Definitions

document_subtype: Appendix


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

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


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund IV, LP. It includes definitions and descriptions of various terms related to the fund, such as the Fund Advisory Committee, Fund Documents, Fund Partnership Agreement, and others. The document outlines the roles and responsibilities of the General Partner, Glendower Capital, and other entities involved in the fund.

key_locations:
Cayman Islands
England

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


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

key_people:
Charles Smith
Carlo Plato-Birch
Adam Graev
Chi Cheung
Carlo Plato-Boob

key_organizations: Organization for Economic Co-operation and Development


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

key_locations:
Cayman Islands
Scotland
England

key_organizations:
Glendower Capital
DB Secondary Opportunities Fund
Deutsche Asset Management


document_description: This document is a confidential private placement memorandum for the Glendower Capital Secondary Opportunities Fund N, LP. It includes definitions and explanations of terms related to the fund, such as Subsequent Closing Partner, Team Investment, Total Value, TVPI or Net Multiple, and various legal and tax considerations.

key_locations:
United States of America
United Kingdom

key_organizations:
Glendower Capital
Glendower U.S.
U.S. Adviser


document_description: This document provides important performance information for the Glendower Capital Secondary Opportunities Fund IV, LP, including metrics such as Distributions to Paid-in Capital (DPI), Gross and Net Internal Rate of Return (IRR), Net Asset Value (NAV), and Total Value to Paid-in Capital (TVPI). It explains the effects of leverage on IRR calculations and includes a benchmark analysis comparing the fund's performance to other private equity funds.

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

document_subtype: Private Placement Memorandum


document_description: The document provides performance information for the SOF Funds and related transactions managed by Deutsche Alternative Asset Management (Global) Limited. It includes details on the investment performance, NAV, and projected returns as of June 30, 2017. The document emphasizes that past performance is not indicative of future results and includes forward-looking statements subject to uncertainties.

key_people:
SOF Team
Manager

key_organizations: Glendower Capital Secondary Opportunities Fund IV, LP


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


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

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

document_subtype: Directory

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


document_description: Proposal for the board of directors of the General Partner of Glendower Capital Secondary Opportunities Fund IV, LP, listing the proposed members and their qualifications.

key_people:
Alan Turner
Andrew Johnson
Kirsten Le Pape
Vanessa Barrett

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

document_subtype: Board of Directors Proposal

key_organizations: Cayman Islands Institute of Professional Accountants

key_organizations: American Institute of Certified Public Accountants


document_description: This document is a confidential private placement memorandum for Gland:mar Capital Secondary Opportunities Fund N, LP, providing contact information for Glendower Capital and Credit Suisse Asset Management Limited.

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

key_locations:
New York, NY, United States
London, United Kingdom

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


document_description: The document describes the composition of a design labeled 'GLOUS125 Gerald Ford', featuring three triangular regions with distinct textures and colors. It includes a narrow black triangle with a halftone texture, a larger gray triangle with a vertical stripe texture, and a white triangular background. The document is marked as confidential under Federal Rule of Criminal Procedure 6(e).


document_description: This document outlines the agreement between Deutsche Bank Securities Inc. (Solicitation Agent), Glendower Access Secondary Opportunities IV GP LLC, and iCapital Advisors, LLC. It details the compensation structure for the Solicitation Agent for soliciting clients to invest in Glendower Access Secondary Opportunities IV funds. The document specifies the Placement Fee rates based on investment levels and the Servicing Fee structure during and after the investment period of the Underlying Fund.

title: Disclosure Statement for Deutsche Bank Securities Inc.

document_subtype: Disclosure Statement


document_description: This document outlines the servicing fee structure for DB Introduced Persons in relation to the Access Fund's Invested Capital. It details the percentage fees based on subscription amounts and additional compensation arrangements for the Solicitation Agent. The document also highlights potential conflicts of interest due to financial incentives for the Solicitation Agent.

key_organizations:
Access Fund
Glendower GP
Glendower Capital, LLC
Solicitation Agent
iCapital


document_description: This is a confidential document related to a case in the Southern District of New York, marked pursuant to Federal Rule of Criminal Procedure 6(e).