document_description: This document outlines the terms and conditions for the Glendower Access Secondary Opportunities Fund IV (U.S.), L.P., which invests in the Glendower Capital Secondary Opportunities Fund IV, L.P. It includes details on fund structure, strategy, minimum commitment, fund term, capital calls, reporting, fees, and carried interest.

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

key_people: Glendower Access Secondary Opportunities IV GP LLC

document_subtype: Investment Fund Terms


source: doj

document_description: The document provides information about the Glendower Access Secondary Opportunities IV (U.S.), LP, and its relationship with the Underlying Fund. It discusses fees, expenses, and performance compensation associated with investments in the Access Fund and the Underlying Fund. It also highlights the risks and considerations for prospective investors, emphasizing the importance of the Offering Memorandum for detailed information.

document_type: correspondence

document_subtype: note


document_description: This document provides important information about investing in the Glendower Access Secondary Opportunities IV (U.S.), L.P. It highlights the potential risks and lower returns associated with investing in the Access Fund compared to direct investment in the Underlying Fund. The document outlines various risks of alternative investments, including lack of liquidity, volatility, and higher fees. It also clarifies the limited rights of purchasers in the Access Fund and the lack of direct interest in the Underlying Fund.

document_type: financial

document_subtype: investment presentation


document_description: The document is an offering for the Glendower Capital Secondary Opportunities Fund IV, LP, a private equity secondary fund. It outlines the fund's strategy, performance metrics, and key terms. The fund aims to raise US$1.75 billion and has a strong track record with a mature program at 1.7x TVPI and >20% Net IRR. The document is intended for Accredited Investors and Qualified Purchasers only.

title: Glendower Capital Secondary Opportunities Fund IV, LP Offering

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

key_locations:
London
New York

document_subtype: Investment Offering

key_organizations:
Glendower Capital
Deutsche Asset Management


document_description: The document outlines the investment strategy of Glendower Capital SOF IV, LP, focusing on Fund Secondaries, GP-led Secondaries, and Single Asset Deals. It describes the opportunistic barbell approach to portfolio construction, emphasizing discounted fund secondaries and less competitive GP-led secondaries. The document also highlights the experience of the investment team and provides details on the firm's approach to risk management and portfolio diversification.

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

document_subtype: investment strategy document

key_organizations:
Glendower Capital
Deutsche Bank
Pomona
Lehman Brothers
Chatterjee/Soros
Cowen
ABN Amro
KPMG
Paul Capital
Forum Capital
CIBC Oppenheimer
ADIA
UBS
Credit Suisse
Gallo & Co.


document_description: The document provides information about the Glendower Capital Secondary Opportunities Fund IV, LP (SOF IV), including its formation, performance figures, and investment strategies. It includes endnotes detailing the fund's performance, investment strategies, and key definitions related to the fund's operations. The document emphasizes that past performance is not indicative of future results and provides a comparison against benchmark statistics.

key_locations:
United Kingdom
North America
Europe
Asia

document_subtype: investment fund document

key_organizations: United Kingdom Financial Conduct Authority


document_description: This confidential presentation by Glendower Capital, LLP provides summary information about existing and future funds managed by Glendower, specifically the Glendower Capital Secondary Opportunities Fund IV, LP. It is intended for sophisticated investors and outlines the risks, legal disclaimers, and the non-binding nature of the information provided. The presentation emphasizes the confidentiality of the information and the need for recipients to consult their own advisors.

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

document_subtype: confidential presentation

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


document_description: This document is an investment presentation for Glendower Capital SOF IV, LP, providing important information about forward-looking statements, investment performance, and track record. It includes disclaimers about the reliability of projections, the role of Glendower's team, and the performance metrics used.

key_people:
Henry Nicholas
Carlo Pirzio-Biroll
Charles Smith
Chi Cheung
Francesco Rigamonti
Adam Graey

key_organizations: Deutsche Alternative Asset Management (Global) Limited


document_description: This document contains legal disclaimers for the distribution of a presentation related to Glendower Capital SOF IV, LP. It outlines the legal restrictions and requirements for distributing the presentation in various jurisdictions, including the EEA, UK, Australia, Bahrain, Brazil, Brunei, Canada, Chile, and China. The document specifies the conditions under which the presentation can be shared and the legal implications of doing so without proper authorization.

document_type: legal

key_locations:
European Economic Area
United Kingdom
Australia
Bahrain
Brazil
Brunei
Canada
Chile
China

document_subtype: legal disclaimer

key_organizations:
Glendower Capital
Credit Suisse Group
Central Bank of Bahrain
Brazilian Securities Commission
Autoriti Monetari Brunel Darussalam
Registrar of Companies
Superintendencia de Valores y Seguros
People's Republic of China government


document_description: This document contains legal disclaimers for various countries regarding the distribution and offering of financial products by Glendower Capital SOF IV, L.P. It specifies the legal conditions under which the presentation can be communicated to potential investors in Colombia, France, Guernsey, Haiti, Hong Kong, Israel, and Japan. The document emphasizes that the presentation does not constitute a public offer and outlines the qualifications required for potential investors in these regions.

key_locations:
Colombia
France
Guernsey
Haiti
Hong Kong
Israel
Japan

key_organizations: Securities and Futures Commission of Hong Kong

key_organizations: Credit Suisse Securities (Japan) Limited

key_organizations: Type II Financial Instruments Firms Association


document_description: This document contains legal disclaimers for Glendower Capital SOF IV, L.P. regarding the distribution and offering of securities in various countries including Malaysia, Mexico, Monaco, New Zealand, Oman, Qatar, Saudi Arabia, Singapore, South Korea, and Switzerland. It outlines the legal restrictions and requirements for offering securities in these jurisdictions.

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

key_organizations: National Banking and Securities Commission

key_organizations: Commission de Controle des Activités Financières

reference_numbers:
Law n° 1.144 of July 26, 1991
Law 1.338 of September 7, 2007
Royal Decree 4/74
Royal Decree 80/98
Decision No.1/2009


document_description: This document contains legal disclaimers for a presentation related to Glendower Capital SOF IV, L.P. It specifies that the presentation does not constitute an offer or solicitation in St. Kitts and Nevis, UAE, or the USA. It highlights the lack of registration with regulatory authorities in these regions and advises investors to consult legal or financial advisors. The document also outlines the risks involved in investing and the restrictions on transferability and resale of interests in the fund.

key_locations:
St. Kitts and Nevis
UAE
United States of America


document_description: This document is a supplemental disclosure by Deutsche Bank Securities Inc. and Deutsche Bank Trust Company Americas, acting as a solicitation agent for a fund. It outlines the nature of the information provided, the risks involved in transactions, and the lack of guarantees on securities. It also clarifies that Deutsche Bank does not provide accounting, tax, or legal advice and authorizes the disclosure of transaction structures and tax aspects.

title: Supplemental Disclosure by Deutsche Bank Securities Inc. and Deutsche Bank Trust Company Americas

document_subtype: Supplemental Disclosure

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


document_description: Confidential investment overview for Glendower Access Secondary Opportunities IV (U.S.), L.P. intended for investment professionals and qualified investors.

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

document_date: April 2018

document_subtype: investment overview


document_description: This document is a presentation for informational and discussion purposes regarding Glendower Capital Secondary Opportunities Fund IV, LP and Glendower Access Secondary Opportunities IV (U.S.), L.P. It is not legal, tax, or investment advice and should not be relied upon as such. The presentation emphasizes the high-risk nature of the investment, potential conflicts of interest, and the importance of consulting the Offering Memorandum for detailed information. It also highlights that past performance is not indicative of future results.

document_subtype: presentation


document_description: The document provides important information about the Access Fund, highlighting the risks and characteristics of alternative investments. It emphasizes that historical returns do not include fees and expenses, and benchmarks are for illustrative purposes only. The document outlines the risks associated with alternative investments, including potential loss, lack of liquidity, volatility, and higher fees. It also clarifies the relationship between purchasers of interests in the Access Fund and the Underlying Fund, noting the lack of direct interest or control in the Underlying Fund.

document_subtype: investment information

key_organizations:
Access Fund
Underlying Fund
iCapital Advisors, LLC
Institutional Capital Network, Inc.
iCapital Network


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

title: Additional Disclosures Regarding Certain Risk Factors

document_subtype: disclosure document

key_organizations:
Securities and Exchange Commission
iCapital Network


document_description: This document provides a summary of the key terms for the Access Fund, including details about the underlying fund, general partner, investment manager, structure, strategy, minimum commitment, target size, fund term, capital calls, investment period, administrator, legal counsel, reporting, placement fee, management fee, carried interest, and subsequent closing fee.

title: Summary of Key Terms for Access Fund

document_type: tabular

document_subtype: financial summary

key_organizations:
Glendower Capital
iCapital Advisors, LLC
Debevoise & Plimpton LLP
Cleary Gottlieb Steen & Hamilton LLP
DBSI


document_description: Investors in the Access Fund will incur additional fees and expenses compared to direct investment in the Underlying Fund. DBSI will receive additional fees from the Underlying Fund. Key terms include the Final Admission Date, waiver of Placement Fee by DBSI, and management fee distribution between iCapital Advisors and DBSI. Direct investment options are available for subscriptions of $5 million or more, with specific fee implications. DBSI acts as a placement agent for the Underlying Fund.

document_subtype: Summary of Key Terms

key_organizations:
DBSI
iCapital Advisors
Glendower Capital, LLP


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


document_description: This confidential presentation by Glendower Capital, LLP provides summary information about existing and future funds managed or advised by Glendower, specifically the Glendower Capital Secondary Opportunities Fund IV, LP. It is intended for a limited number of sophisticated persons for evaluation of potential investment. The presentation is strictly confidential and not an offer or solicitation for investment. It includes disclaimers about past performance not being indicative of future results and advises recipients to consult their own advisors.


document_description: The document provides an explanation of secondary private equity investments, contrasting them with primary private equity investments. It describes the nature of secondary PE investments, their market development, and the types of transactions involved.

document_type: other

document_subtype: informational document


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

title: Benefits of Secondary Private Equity Investing

document_subtype: financial analysis


document_description: The document is a presentation slide discussing the secondary private equity market, highlighting its strength with a deal volume of US$58 billion in 2017. It covers pricing trends, the growth of GP-led deals, and the steady supply of tail-end funds. The slide is part of Glendower Capital's analysis in the 'Secondary Market Update' section of a presentation.

document_subtype: presentation slide


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

title: Glendower Capital Document


document_description: Glendower Capital is launching the Secondary Opportunities Fund IV (SOF IV) to continue its value-investing strategy. The fund seeks $1.75 billion in commitments, with a first close of $1.3 billion expected in May 2018. The fund focuses on secondary private equity investments globally, aiming for attractive risk-adjusted returns through capital appreciation. The document outlines the fund's performance metrics, investment strategy, and target markets.

title: Glendower Capital Secondary Opportunities Fund IV Overview

key_locations:
United States
Europe

document_subtype: Investment Fund Overview


document_description: Glendower Capital is an investment team active in the secondary market since 2003. The team spun-off from Deutsche Bank in 2017 to form an independent partnership. They have a seasoned team with extensive database and relationships, having invested in over 350 fund interests over 90 deals. The team has raised multiple funds over the years, with significant events in 2003, 2006, 2010, 2011, and 2017.

title: Glendower Capital Overview

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

key_organizations:
Glendower Capital
Deutsche Bank


document_description: A document listing the core members of the Glendower Capital Team, including their roles, locations, previous experience, and educational background.

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

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

document_subtype: team overview

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


document_description: The document provides a detailed performance report of various SOF funds managed by Glendower Capital as of September 30, 2017. It includes information on fund size, transactions, gross and net multiples, IRR, and net distributed values. The report highlights the performance of funds such as SOF, SOF D, SOF II, and SOF III, with a total fund size of US$2,980m. It also notes that past performance is not indicative of future results.

title: SOF Funds Performance as of September 30, 2017

key_locations:
North America
Europe
Asia

document_subtype: financial report


document_description: The document compares the performance of SOF funds against Cambridge Associates' secondary funds from 2004 to 2014. It includes metrics such as Net IRR, DPI, and RVPI for various SOF funds and benchmarks them against their vintage peer group. The data is based on unaudited results as of September 30, 2017.

title: SOF Funds vs Cambridge Associates' Secondary Funds Performance

document_subtype: financial performance report

key_organizations:
Glendower Capital
Cambridge Associates


document_description: The document provides a performance comparison of SOF Funds against the Cambridge Associates buyout top-quartile benchmark. It includes metrics such as TVPI, DPI, and Net IRR for various SOF funds across different vintage years. The report highlights that SOF Funds deliver buyout-like returns with a secondary risk profile, outperforming the benchmark in certain years.

title: SOF Funds Performance Report

key_organizations:
Cambridge Associates
Glenclover SOF Team
Glendower Capital


document_description: The document provides a performance comparison of the SOF Program against major public market indices as of September 30, 2017. It includes performance data for various SOF funds and compares them to indices like MSCI World, Russell 2000, and Thomson Reuters. The document emphasizes that past performance is not indicative of future results and includes a methodology section explaining the calculation of PMEs using the Long Nickels method.

title: SOF Program Performance Comparison


document_description: The document provides an overview of the performance of SOF, SOF II, and SOF III funds across different metrics such as Net Contributed Capital, Net IRR, DPI, and TVPI over various quarters from inception. It includes a table showing the percentage of Net Contributed Capital over time for each fund. The performance figures are based on unaudited results as of September 30, 2017, and emphasize that past performance is not indicative of future results.

title: SOF Funds Performance Overview


document_description: This document contains information about Glendower Capital's investment strategies, market updates, and fund terms. It includes sections on Glendower Investment Strategy, Secondary Market Update, SOF III and IV Update, and Glendower Capital Secondary Opportunities Fund IV Key Terms.

title: Glendower Capital Document


document_description: The document provides a market segmentation analysis by Glendower Capital, categorizing investment funds into three categories: large levered beta players, mid-sized value investors, and small local funds. It includes data on secondary funds raised or in fundraising from 1996 to 2018, with a focus on fund sizes and strategies.

title: Glendower Capital Market Segmentation Analysis

document_subtype: market analysis

key_organizations:
Glendower Capital
Pregin database


document_description: Glendower has a distinctive investment strategy focusing on disciplined bottom-up underwriting of attractive assets managed by quality managers. The strategy includes sourcing less competitive deals globally, pursuing a selective true value approach, buying margin of safety, and focusing on efficient portfolio construction. The document provides details on average deal sizes, value creation methods, and portfolio diversification strategies.

title: Glendower Investment Strategy


document_description: The document outlines a disciplined barbell approach to market cycles, focusing on different types of secondary deals in private equity. It includes a table comparing fund secondaries, GP-led secondaries, and single asset deals, with details on market strategies, expected returns, and historical performance data from Glendower Capital.


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

document_subtype: investment analysis


document_description: The document outlines Glendower Capital's rigorous sourcing and deal selection process, highlighting their wide funnel and narrow filter approach. It emphasizes their extensive industry network, proactive top-down approach, and expertise in GP-led and Single Asset Deals. The document also details their significant buy & sell side experience, disciplined underwriting, and unique GP-restructuring experience.

title: Glendower Capital Investment Process

document_subtype: business presentation

key_organizations:
Glendower Capital
DB Wealth Management
Raymond James
Alex Brown


document_description: This document provides a summary of fund secondaries transactions, detailing various projects/funds, deal sizes, discounts, regions, sellers, and descriptions. It includes information on proprietary deals, liquidity solutions, and globally diversified portfolios managed by major firms like CD&R, Apollo, Carlyle, KKR, and others.

title: Fund Secondaries Transactions - Illustrative Case Studies

document_subtype: financial transaction summary

key_organizations:
Glendower Capital
CD&R
Apollo
Carlyle
KKR
Apax
MidOcean
MSREF
CDH
Affinity
Calera
CVC
Blackstone
Bridgepoint


document_description: The document provides illustrative case studies of GP-led transactions and single asset deals, detailing project/fund names, deal sizes, regions, sellers, and descriptions. It includes information on motivated sellers, distressed assets, and structured deals across various regions including the US and Europe.

key_locations:
US
Europe
UK
France
Poland
Czech Republic
Bulgaria
Macedonia
Turkey

document_subtype: case studies


document_description: The document provides an analysis of secondary market volumes from 2006 to 2018, with a forecast for 2018. It highlights that secondary market volume remains at record levels, with GP-led transactions representing 25% of the volume. The forecast for 2018 is over US$60 billion.

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


document_description: The document provides data on the growth of the global private equity (PE) market, highlighting the increase in total PE assets to US$2.8 trillion. It includes tables showing unrealized portfolio values, dry powder, and total values from 2007 to 2017, as well as annual secondary volumes as a percentage of total PE assets. The data is sourced from the 2018 Preqin Global Private Equity & Venture Capital Report and other industry reports.

key_organizations:
Glendower Capital
Preqin
Greenhill


document_description: The document provides an analysis of secondary market pricing for private equity fund interests, highlighting stable pricing trends from 2011 to 2017. It includes a table showing secondary market volume and pricing from 2005 to 2017, indicating a bubble phase in 2005-2007, a crisis phase in 2008-2010, and a normalized phase from 2011 onwards.

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


document_description: The document provides an analysis of the secondary market capitalization, highlighting a balanced capital supply with specific figures for dry powder and annual deal volume. It includes estimates from Glendower Capital based on various reports.

key_organizations:
Glendower Capital
Greenhill
Bain & Company


document_description: The document provides an analysis of significant unrealized private equity value locked in tail-end funds, with a focus on pre-crisis vintages amounting to US$600bn. It includes a breakdown of unrealized PE value by year and period, as well as a seller composition breakdown by type.

title: Unrealized Private Equity Value and Seller Composition


document_description: The document provides an analysis of GP-led transactions in the secondary market, highlighting their growth as a source of supply and their representation in the market. It includes a table showing the value and percentage of GP-led secondaries from 2006 to 2017.

title: GP-led Transactions in the Secondary Market

key_organizations:
Glendower Capital
Greenhill
Dow Jones Private Equity Analyst


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

title: Glendower Capital Document


document_description: The document provides a financial overview of the SOF Ill Portfolio as of September 30, 2017, including gross invested capital breakdown, sector composition, investment strategy, and vintage year distribution. It includes performance metrics such as capital called, distributions, remaining NAV, and total net return.

title: SOF Ill Portfolio - Highlights


document_description: The document lists 28 General Partners (GPs) representing approximately 90% of SOF III's current exposure based on Fair Market Value as of September 30, 2017. It includes various investment firms and capital partners.

title: SOF Ill Portfolio - Sponsor exposure

document_subtype: financial portfolio

key_organizations:
Gilde
KKR
NAVIS
HIGHSTAR CAPITAL
CENTRE
Bridgepoint
NEUBERGER BERMAN
TDR Capital
LANE
LONG POINT CAPITAL
GMT
COLONY
NORTHSTAR
DUKE STREET
ASTRA
HOSPITAL DIAGNOSTIC
Quadrangle
Morgan Stanley
STAGE
ARCO REAL ESTATE
CANTAL
TURKVEN
UNLU & Co
SMITHFIELD
TCV
Zurmont Madison
ENHANCED
octopus ventures
AUGENS
Amadeus Capital Partners
Palamon Capital Partners
Glendower Capital


document_description: The document outlines the near-term investment pipeline for SOF IV as of March 31, 2018, detailing various projects, their deal types, regions, stages, sourcing methods, deal sizes, and SOF IV investments. It includes projects like Sunrise, Klein, Penguin II, and others, with investments ranging from $6 million to $1.4 billion.

title: SOF IV - Near term pipeline

key_locations:
North America
EMEA
Global
APAC

document_subtype: investment pipeline


document_description: This document outlines the investment details for Project Sunrise, led by Glendower Capital. It is a GP-led secondary deal expected to close in April 2018, involving mid-market buyout strategy in the US consumer industry. The investment includes five companies, with a focus on dining and fitness brands. Key investment data includes a $100m invested capital, 7% discount to NAV, and a 1.1x gross multiple at close. The rationale highlights Glendower's ability to deliver bespoke solutions and perform extensive diligence.

title: SOF IV - Project Sunrise

document_subtype: investment summary


document_description: This document outlines an exclusive GP-led secondary deal for Project Klein, expected to close in June 2018. It involves a mid-market buyout strategy in Europe/UK, focusing on business and healthcare services. The investment includes four companies, with key assets in the UK and Italy. Glendower Capital is leading the transaction, leveraging its expertise in complex deals and long-standing relationships.

title: SOF IV — Project Klein

key_locations: Europe UK Italy


document_description: This document contains information about Glendower Investment Strategy, Secondary Market Update, SOF III and IV Update, and Glendower Capital Secondary Opportunities Fund IV Key Terms.

title: Glendower Capital Document


document_description: Key terms for the Glendower Capital Secondary Opportunities Fund IV, LP, including target size, structure, investment period, term, minimum commitment, team commitment, general partner share, carried interest, hurdle rate, and clawback provisions.

title: SOF IV - Master Fund Key Terms

document_subtype: investment fund terms


document_description: The document outlines the key ILPA 2 principles for SOF IV, focusing on alignment of interest, governance, and transparency. It includes best practices and provisions favorable to limited partners (LPs).

title: SOF IV - ILPA 2 Scorecard

document_subtype: scorecard

key_organizations: Institutional Limited Partner Association


document_description: This document contains an introduction, details about Glendower Investment Strategy, a secondary market update, updates on SOF III and IV, and key terms for the Glendower Capital Secondary Opportunities Fund IV. It is marked as confidential and is related to financial strategies and updates.

title: Glendower Capital Document


document_description: Team bios for Glendower Capital's key personnel, detailing their roles, previous experience, and educational background.

key_people:
Carlo Pir210-Biroli
Charles Smith
Adam Graev
Chi Cheung

document_subtype: team bios

key_organizations:
Glendower Capital
Deutsche Bank
General Electric
The Boston Consulting Group
Pomona Capital
Lehman Brothers
Chatterjee Group
Soros Fund Management
Cowen & Co.


document_description: Team bios for Glendower Capital, detailing the professional backgrounds and responsibilities of Deirdre Davies, Joshua Glaser, Emilio Olmos, and Francesco Rigamonti.

key_people:
Deirdre Davies
Joshua Glaser
Emilio Olmos
Francesco Rigamonti

key_locations:
London
New York
Milan
South Africa
Abu Dhabi
Italy

key_organizations:
Glendower Capital
Deutsche Bank
KPMG
Paul Capital
Forum Capital
CIBC Oppenheimer
ADIA
UBS
Credit Suisse
Lafarge
Gallo & Co.


document_description: Team bios for Glendower Capital, detailing the professional backgrounds and responsibilities of key team members: Rikesh Mohandoss, Devrup Banerjee, Aldrich Chan, and Philippe Ferneini. Each member's previous experience, education, and current role in secondary investments are highlighted.

key_people:
Rikesh Mohandoss
Devrup Banerjee
Aldrich Chan
Philippe Ferneini

key_locations:
New York
London

key_organizations:
Glendower Capital
Deutsche Bank
Bank of America
Freddie Mac
Goldman Sachs
UBS
Credit Suisse
Booz & Company


document_description: The document provides biographies of team members at Glendower Capital, including their roles, previous experience, and educational background.

title: Glendower Capital Team Bios

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

key_organizations: Russian Presidential Academy of National Economy and Public Administration

key_organizations: Carnegie Mellon's Tepper School of Business


document_description: The document provides biographies of team members at Glendower Capital, including Rafael Enriquez-Hesles, Sheldon Lee, Katherine Weaver, and Louise Schoeman. It details their educational backgrounds, previous work experiences, and current roles within the company.

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

key_locations:
New York
London
Pretoria

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


document_description: This document provides key information about the SOF III fund, including its first and final closing date, fund size, investor regions, types, and sizes of individual commitments.

title: SOF III — Investor base

key_organizations:
Deutsche Bank
Glendower Capital


document_description: This document provides a detailed summary of various financial transactions managed by Glendower Capital as of September 30, 2017. It includes information on project names, sourcing, seller types, deal types, funds, companies, invested and funded capital, initial closing dates, gross multiples, and portfolio details. The document emphasizes the performance figures based on unaudited fair values and includes a disclaimer about past performance not guaranteeing future results.

title: Overall transaction summary as of September 30, 2017

document_subtype: financial summary


document_description: The document provides a breakdown of the gross invested capital for SOF II as of September 30, 2017. It includes details on fund size, capital called, distributions, remaining NAV, and total net return. The asset geography and investment strategy are outlined, along with sector composition and vintage year distribution.

title: SOF II — Portfolio construction


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

key_locations: Europe US Global


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

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

key_locations:
North America
Europe


document_description: This document provides a summary of various financial transactions managed by Glendower Capital as of September 30, 2017. It includes details on project names, sourcing, seller types, deal types, funds, companies, invested and funded capital, initial closing dates, gross multiples, and portfolio details. The document also includes notes on the performance figures and specific transactions like the Hoover transactions.

key_locations: US Europe Asia


document_description: This confidential presentation by Glendower Capital, LLP provides summary information about existing and future funds managed by Glendower, including the Glendower Capital Secondary Opportunities Fund IV, LP. It is not an offer to sell or a solicitation to buy any security. The presentation outlines the risks, illiquidity, and potential conflicts of interest associated with the fund. It emphasizes the importance of consulting offering documents for detailed information and risk factors. Credit Suisse acts as the fund's placement agent but not as a municipal advisor.

document_subtype: confidential presentation

key_organizations:
Glendower Capital, LLP
Credit Suisse Asset Management Limited


document_description: This document is a presentation by Glendower Capital regarding an investment fund. It includes disclaimers about past performance not being indicative of future results, the potential for differing economic conditions, and the lack of assurance on achieving investment objectives. It emphasizes that the presentation should not be considered as legal, tax, or investment advice and highlights the high risks and lack of liquidity associated with the fund. The document is marked as strictly confidential and is not intended to form the basis of any contract.

document_subtype: investment presentation

key_organizations:
Glendower Capital
Credit Suisse


document_description: This document provides key definitions related to investment terms and fund structures, including Single Asset Deal, Fund Secondary, GP-led Secondary, and various Secondary Opportunities Funds (SOF). It also defines financial indices such as the Russell 2000 Index, MSCI World Index, and Thomson Reuters Private Equity Buyout Index.

document_subtype: definitions

key_organizations:
DB Secondary Opportunities Fund
Glendower Capital
FTSE Russell
London Stock Exchange Group
Thomson Reuters


document_description: The document provides important information on the investment performance and track record of the Glendower SOF Team, which spun off from Deutsche Bank in August 2017. It discusses the team's investment experience, performance metrics, and valuation methodologies. The document also outlines the calculation of investment returns, including Gross IRR and Net IRR, and explains the impact of subscription line facilities on these calculations. Additionally, it covers the valuation of unrealized investments and the assumptions underlying target returns.

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

document_subtype: investment performance notes

key_organizations: Deutsche Alternative Asset Management (Global) Limited


document_description: This document provides important information for recipients in various jurisdictions regarding the distribution and offering of interests in a fund managed by an EU AIFM. It includes specific notices for residents of the European Economic Area, Australia, Bahrain, and Brazil, outlining legal and regulatory considerations for each region.

title: Important Information for Recipients in Certain Jurisdictions

key_locations:
European Economic Area
Australia
Bahrain
Brazil

key_organizations:
Glendower Capital
Credit Suisse Group
Credit Suisse AG, Sydney Branch
Central Bank of Bahrain
Brazilian Securities Commission


document_description: This document provides important information for recipients in various jurisdictions regarding the distribution and use of a presentation. It outlines specific legal and regulatory requirements and restrictions for recipients in Brunei, Canada, Cayman Islands, Chile, China, Colombia, France, Guernsey, and Haiti. The document emphasizes that the presentation is for informational purposes only and does not constitute an offer or invitation to the public in these jurisdictions.

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

document_subtype: informational presentation

key_organizations:
Autoriti Merietan Brunei Derussalam
Registrar of Companies
Superintendencia de Valores y Seguros
People's Republic of China
Superintendence of Finance of Colombia
Guernsey Financial Services Commission
States of Guernsey Policy Council
Glendower Capital


document_description: This document is a presentation by Glendower Capital, providing important information for recipients in Hong Kong and Israel regarding investment offerings. It outlines the legal restrictions and conditions under which the investment products can be offered in these jurisdictions, emphasizing that the presentation is not an offer to sell or solicit investments unlawfully.

key_locations:
Hong Kong
Israel

document_subtype: presentation

key_organizations: Securities and Futures Commission of Hong Kong


document_description: This document provides important information for recipients in various jurisdictions regarding the offering and sale of securities. It outlines the legal restrictions and requirements for offering securities in Japan, Malaysia, Mexico, Monaco, New Zealand, and the Sultanate of Oman. The document emphasizes compliance with local laws and regulations and specifies the entities authorized to distribute such materials in each jurisdiction.

key_locations:
Japan
Malaysia
Mexico
Monaco
New Zealand
Sultanate of Oman

document_subtype: legal notice

key_organizations: Credit Suisse Securities (Japan) Limited

key_organizations: Type II Financial Instruments Firms Association

key_organizations: National Banking and Securities Commission

key_organizations: Commission de Contrôle des Activités Financières

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

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


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

key_locations:
Qatar
Saudi Arabia
Singapore
South Korea
Switzerland
Geneva

document_subtype: promotional document

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


document_description: This document is a presentation by Glendower Capital providing important information for recipients in certain jurisdictions regarding investment in a fund. It outlines the legal and regulatory considerations for investors in St. Kitts and Nevis, UAE (Abu Dhabi/Dubai), and the United States. The presentation emphasizes that the fund is not registered with any regulatory authority in these regions and highlights the risks involved in investing.

key_locations:
St. Kitts and Nevis
UAE
United States


document_description: This document is a supplemental disclosure by Deutsche Bank Securities Inc. and Deutsche Bank Trust Company Americas, acting as a solicitation agent for a fund. It outlines the nature of the securities described, the risks involved, and the lack of guarantees or insurance by Deutsche Bank or any governmental agency. It also clarifies that Deutsche Bank does not provide accounting, tax, or legal advice and authorizes the recipient to disclose the structure and tax aspects of the potential transaction.

document_subtype: disclosure

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


document_description: A letter from Deutsche Bank requesting consent to share personal information with iCapital Parties for a fund investment managed by iCapital Advisors, LLC.

title: Letter of Authorization for Fund Investment

document_subtype: Letter of Authorization

key_organizations:
Deutsche Bank
iCapital Advisors, LLC


document_description: Authorization form for Deutsche Bank to provide information to iCapital Parties and manage fund investments for Glendower Access Secondary Opportunities IV (U.S.), L.P.

document_subtype: Authorization Form


document_description: A confidential financial document related to Henry Nicholas with placeholders for placement fee, initial capital contribution amount, and Deutsche Bank account number.

document_subtype: bank document


document_description: This document is a supplement to the Confidential Private Placement Memorandum dated January 2018, related to the offering of limited partnership interests in Glendower Access Secondary Opportunities IV (U.S.), L.P. It is intended for investors referred by Deutsche Bank Securities Inc.

title: Supplement to the Confidential Private Placement Memorandum

document_subtype: Private Placement Memorandum Supplement

key_organizations: Glendower Capital Secondary Opportunities Fund IV, LP


document_description: This document is a supplement to the Confidential Private Placement Memorandum for Glendower Access Secondary Opportunities IV (U.S.), L.P., intended to update information regarding Deutsche Bank Securities Inc.'s role as Placement Agent and related compensation. 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.

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


document_description: Amendment to the 'Summary of Principal Terms of the Access Fund' regarding the Servicing Fee arrangement with Deutsche Bank Securities Inc. as a Placement Agent. The Servicing Fee is structured based on the subscription amount of DB Introduced Persons and varies during different periods of the Underlying Fund's lifecycle.

document_subtype: Memorandum Amendment

key_organizations:
Deutsche Bank Securities Inc.
Access Fund


document_description: The document outlines the placement fee structure for Deutsche Bank in relation to the Access Fund and Underlying Fund. It details the DB Placement Fee rates based on investment levels and the Direct Investor Placement Fees for Deutsche Bank's role as a placement agent. It also mentions risk factors and potential conflicts of interest for DB Introduced Persons.

document_subtype: Fee Schedule

key_organizations:
Deutsche Bank
Access Fund
Glendower GP
Glendower Capital, LLC


document_description: Deutsche Bank will serve as a Placement Agent for Access Funds, charging a DB Placement Fee for subscriptions by DB Introduced Persons. The fee structure varies based on the subscription amount and can be waived or reduced. Deutsche Bank will also receive a Servicing Fee for certain services provided to DB Introduced Persons. Additionally, Deutsche Bank will receive a placement fee from Glendower GP or an affiliate. The document outlines potential conflicts of interest due to these fees.

document_subtype: Investment Agreement

key_organizations:
Deutsche Bank
Access Funds
Glendower GP


document_description: The document discusses amendments to the 'Certain Regulatory Matters' section of a Memorandum, detailing settlements reached by DBSI with various regulatory bodies. The settlements relate to investigations into research analyst independence and the sale of auction rate securities.

document_subtype: settlement agreement

key_organizations: National Association of Securities Dealers


document_description: Form W-9 is used to certify the correct Taxpayer Identification Number (TIN) and to claim exemption from backup withholding. It provides definitions for U.S. persons and outlines special rules for partnerships and foreign persons. The form also explains backup withholding, FATCA reporting, and penalties for non-compliance.

title: Form W-9 (Rev. 11-2017)

document_subtype: tax document


document_description: Instructions for completing Form W-9, including penalties for falsifying information, misuse of TINs, and specific instructions for different types of entities. It also includes information on exemptions from backup withholding and FATCA reporting.

title: Form W-9 Instructions

document_subtype: tax form instructions


document_description: Instructions for completing Form W-9, including information on exempt payees, FATCA exemption codes, and how to obtain a Taxpayer Identification Number (TIN).

title: Form W-9 Instructions

document_subtype: tax form

key_organizations: IRS SSA


document_description: Instructions for completing Form W-9, including details on providing TINs for various account types and guidance on identity theft protection.

title: Form W-9 Instructions

key_organizations:
IRS
Taxpayer Advocate Service


document_description: This document is a W-9 form from the IRS, providing information on how the IRS does not initiate contact via email and instructions on reporting phishing attempts. It also includes a Privacy Act Notice explaining the requirement to provide a correct TIN and the potential uses of the information collected.

document_subtype: W-9 Form

key_organizations: Treasury Inspector General for Tax Administration


document_description: This document is a Form ADV Part 2A brochure for iCapital Advisors, LLC, providing information about the firm's qualifications and business practices. It includes disclaimers about SEC registration and the non-endorsement of the firm's skills or expertise.

title: iCapital Advisors, LLC Form ADV Part 2A

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

document_subtype: Form ADV Part 2A

key_organizations: United States Securities and Exchange Commission


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

title: iCapital Advisors, LLC Form ADV Part 2A

key_organizations:
iCapital Advisors, LLC
Institutional Capital Network, Inc.
Fidelity Brokerage Services LLC
Deutsche Bank
iCapital Securities, LLC
Financial Industry Regulatory Authority
SEC


document_description: This document is a Form ADV Part 2A for iCapital Advisors, LLC, detailing their investment advisory services. It lists various Private Equity and Direct Investment Funds managed by iCapital, which are exempt from registration under the Investment Company Act of 1940 and the Securities Act of 1933. The document outlines iCapital's role in identifying private equity or hedge fund managers for investment and managing these funds according to their private placement memorandums (PPMs).

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

key_organizations: Private Equity Global Select Master Fund

key_organizations: Opportunistic Real Estate and Infrastructure Select Fund

key_organizations: iCapital-OrbiMed Royalty Opportunities II Access Fund

key_organizations: iCapital-Apollo Structured Credit Recovery Access Fund

key_organizations: iCapital-Warburg Pincus Private Equity XII Access Fund

key_organizations: Royalty Investment Fund Limited Partnership


document_description: The document is a Form ADV Part 2A for iCapital Advisors, LLC, detailing investment strategies, management fees, and assets under management. It outlines the investment approach, management fees, and the structure of various funds managed by iCapital. The document also provides information on the ownership and management of iCapital and its parent company, Institutional Capital Network, Inc.

title: iCapital Advisors, LLC Form ADV Part 2A

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


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

title: iCapital Advisors, LLC Form ADV Part 2A

key_organizations:
iCapital Advisors, LLC
Dynasty Securities, LLC


document_description: The document outlines the expenses related to the formation and operation of the Private Access Fund and Direct Investment Funds managed by iCapital Advisors, LLC. It details various costs including management fees, organizational expenses, taxes, legal and administrative fees, and other operational costs. The document also mentions the expenses borne by limited partners and the pro rata share of costs related to the Underlying Funds.


document_description: The document outlines the expenses, performance-based fees, client types, and side agreements related to iCapital Advisors, LLC. It details the types of expenses borne by Direct Investment Funds, the performance-based fees charged by iCapital, and the types of clients eligible to invest in the Funds. It also discusses the possibility of side agreements with investors or shareholders providing different rights.

title: iCapital Advisors, LLC Form ADV Part 2A


document_description: The document outlines iCapital Advisors, LLC's investment strategies, methods of analysis, and risk management for their Private Access Funds and Direct Investment Funds. It details the due diligence process for selecting fund managers and sub-advisers, emphasizing a bottom-up diligence approach. The process includes quantitative and qualitative assessments, market mapping, benchmarking, and comprehensive evaluations of fund managers' track records and strategies.


document_description: The document outlines iCapital Advisors, LLC's due diligence process for evaluating investment opportunities, including internal rate of return, multiple on invested capital, and other financial metrics. It describes a five-stage selection process for hedge funds, involving market opportunity assessment, manager evaluation, initial diligence, deep dive with Castle Hall Alternatives Inc., and final approval by the Investment Committee.

key_organizations:
iCapital Advisors, LLC
Castle Hall Alternatives Inc.


document_description: The document outlines the investment selection process and associated risks for iCapital Advisors, LLC. It highlights the limitations in operational due diligence and the potential risks of conflicts of interest, fraudulent behavior, and operational weaknesses in the Underlying Funds. The document emphasizes the risk of loss in securities investments and advises prospective investors to consult professional advisers and review legal documents before investing. It is intended for experienced and sophisticated investors willing to bear high economic risks.

title: iCapital Advisors, LLC Form ADV Part 2A

document_subtype: investment advisory document


document_description: The document outlines the risks and conflicts of interest associated with investing in Private Access Funds through iCapital Advisors, LLC. It highlights potential issues such as lack of diversification, higher fees, illiquidity, and the possibility of losing the entire investment. The document also discusses the relationship between Private Access Funds and Underlying Funds, including the lack of control iCapital has over the management of Underlying Funds and the potential for misconduct by fund managers.

title: iCapital Advisors, LLC Form ADV Part 2A


document_description: The document outlines the terms and conditions related to capital contributions for investors in iCapital's Private Access Funds. It details the obligations of investors, potential penalties for non-compliance, and the lack of direct rights or recourse against the Underlying Fund. It also clarifies that iCapital does not provide investment advice and that investors should consult their own advisors.

title: iCapital Advisors, LLC Form ADV Part 2A


document_description: This document is a Form ADV Part 2A from iCapital Advisors, LLC, discussing various financial and tax implications for investors in Private Access Funds. It covers topics such as tax liabilities, illiquidity of investments, economic and market risks, and consequences of default. Investors may face tax liabilities exceeding cash distributions and may need to repay distributions to meet fund obligations. The document also highlights the risks associated with private equity fund investments and the potential for significant UBTI for tax-exempt investors.


document_description: The document is a Form ADV Part 2A from iCapital Advisors, LLC, discussing capital contributions, default actions, series limited partnerships, and reliance on sub-advisers. It outlines the procedures and potential consequences for investors who default on capital contributions, the legal structure and liabilities of series limited partnerships, and the importance of sub-advisers in managing funds.


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


document_description: The document discusses the investment strategies and associated risks of iCapital Advisors, LLC, focusing on investments in American Depositary Receipts (ADRs), European Depositary Receipts (EDRs), Global Depositary Receipts (GDRs), and securities in emerging markets. It highlights the risks of investing in non-U.S. securities, including political, economic, and foreign exchange risks, as well as the volatility and liquidity issues in emerging markets. The document also addresses the impact of foreign currency fluctuations on the value of investments.

title: iCapital Advisors, LLC Form ADV Part 2A


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

title: iCapital Advisors, LLC Form ADV Part 2A


document_description: The document discusses various risks associated with investing in small or medium-sized companies, liquidity of investments, convertible securities, and participation certificates. It highlights the potential for greater risk and price volatility in smaller companies, the challenges of illiquid investments, and the risks related to convertible securities and participation certificates.


document_description: The document outlines the financial strategies and risks associated with iCapital Advisors, LLC's investment funds. It discusses cash position risk, leverage, and derivatives risk, highlighting the potential impacts on fund value and investment returns. The document also addresses the implications of market conditions and regulatory actions on financing arrangements.


document_description: The document discusses various financial risks associated with investment in derivatives, warrants, stock purchase rights, and debt securities. It highlights the potential for high volatility, illiquidity, and the speculative nature of certain investments, particularly those rated below investment grade, commonly known as 'junk bonds.'


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

title: iCapital Advisors, LLC Form ADV Part 2A


document_description: The document is a Form ADV Part 2A for iCapital Advisors, LLC, detailing investment strategies, risks, and affiliations. It discusses the risks associated with investing in Real Estate Investment Trusts (REITs) and cybersecurity risks for private equity funds. It also provides information on iCapital's affiliations, including iCapital Securities, LLC, a registered broker-dealer, and Gen II Fund Services, LLC, a fund administrator. The document states that iCapital has no material legal or disciplinary events affecting its advisory business.

title: iCapital Advisors, LLC Form ADV Part 2A

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


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

title: iCapital Advisors, LLC Form ADV Part 2A

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


document_description: The document outlines the Code of Ethics for iCapital Advisors, LLC, emphasizing the need for employees to avoid conflicts of interest and obtain authorization for personal investments. It details the firm's role as an investment adviser, potential conflicts of interest, and compensation structures, including placement fees for certain funds.

title: iCapital Advisors, LLC Form ADV Part 2A

key_organizations:
iCapital Advisors, LLC
iCapital Securities, LLC


document_description: The document outlines iCapital Advisors, LLC's Form ADV Part 2A, detailing potential conflicts of interest, fee structures, valuation processes, educational programs, and privacy policy. It discusses the involvement of management persons in soliciting investment advisers, the fee structure for brokerage limited partners, and the valuation of fund assets. It also covers educational programs for financial advisers and the company's commitment to investor privacy.

title: iCapital Advisors, LLC Form ADV Part 2A

key_organizations:
iCapital Advisors, LLC
iCapital Securities


document_description: The document outlines iCapital Advisors, LLC's brokerage practices, review of accounts, and client referrals and compensation policies. It details the firm's approach to achieving best execution in securities transactions, the review process for fund performance, and the handling of client referrals and compensation through iCapital Securities, LLC and third-party broker-dealers.

title: iCapital Advisors, LLC Form ADV Part 2A


document_description: The document outlines iCapital Advisors, LLC's Form ADV Part 2A, detailing the firm's investment management practices, compensation arrangements, custody rules, and investment discretion. It discusses the allocation of management fees to broker-dealers or registered investment advisors, collaboration with Fidelity Brokerage Services LLC, and custody requirements for client funds. It also covers the firm's discretionary authority in investment decisions and the guidelines governing fund management.

title: iCapital Advisors, LLC Form ADV Part 2A

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


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


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

title: FORM ADV PART 2B: Brochure Supplement

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

document_subtype: Brochure Supplement


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

title: Form ADV Part 2B for Eileen Duff Blalock

key_people:
Eileen Duff Blalock
Michael Stanton

document_subtype: Form ADV Part 2B

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


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

title: Form ADV Part 2B for Phil Pool

key_people:
Phil Pool
Michael Stanton

key_locations:
London
New York
Chicago

key_organizations: Donaldson, Lufkin & Jenrette Securities Corporation


document_description: This document provides the educational background, business experience, and other relevant information about John C. Robertshaw, a Special Advisor to iCapital Network and iCapital Securities, LLC. It includes details about his previous roles at Credit Suisse and Salomon Brothers, as well as his educational background from Yale University. The document also confirms that Mr. Robertshaw has not been subject to any material legal or disciplinary events and outlines his supervision by Mr. Michael Stanton, iCapital's CCO.

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

key_people:
John C. Robertshaw
Michael Stanton

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


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

title: Form ADV Part 2B for Daniel Vene

key_people:
Daniel Vene
Michael Stanton

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


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

title: Form ADV Part 2B for Nicholas Veronis

key_people:
Nicholas Veronis
Michael Stanton

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


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

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

document_subtype: Limited Partnership Agreement


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

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


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

title: Amended and Restated Limited Partnership Agreement


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

document_subtype: Amended and Restated Limited Partnership Agreement


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


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

key_people:
General Partner
Initial Limited Partner

key_organizations: Glendower Access Secondary Opportunities IV GP LLC


document_description: This document outlines the amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It details the partnership's name, offices, purpose, powers, and the roles and responsibilities of the partners. The partnership is primarily focused on making, holding, and disposing of investments in an underlying fund. The document also specifies the limited liability of partners and the conditions under which they are required to contribute capital.

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

document_subtype: Partnership Agreement


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the rights and obligations of Limited Partners, including the effects of death, dissolution, or bankruptcy, and the conditions under which additional Limited Partners may be admitted. It specifies that Limited Partners do not have control over the partnership's affairs and details the financial contributions required from new or increasing Limited Partners.


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

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


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines provisions related to the admission of new partners and anti-money laundering requirements. The agreement specifies that the General Partner can admit new partners without the consent of existing partners and must comply with anti-money laundering laws. Limited Partners must ensure their contributions are not derived from illegal activities and comply with U.S. anti-money laundering laws.

key_people:
General Partner
Limited Partners


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

key_people:
General Partner
Limited Partner


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

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


document_description: The document outlines provisions for alternative investment vehicles within a partnership agreement. It specifies conditions under which the General Partner can structure investments outside the Partnership using alternative investment vehicles for legal, tax, regulatory, or accounting reasons. It also details the obligations of Limited Partners and the General Partner regarding capital contributions and economic provisions to ensure equitable allocations and distributions.


document_description: This document outlines the terms and conditions of the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It covers allocations, distributions, and the relationship between the Partnership and Alternative Investment Vehicles, including management fees, transfer of interests, and defaulting partners. It also discusses the establishment of Investment Subsidiaries for legal, tax, or regulatory reasons.


document_description: The document outlines the terms and conditions of the partnership, including partnership expenses, parallel access funds, investment guidelines, borrowings, and ERISA compliance. It details the formation of parallel access or feeder funds, investment strategies, credit facilities, and compliance with ERISA regulations.


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

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


document_description: This document outlines the expenses and financial responsibilities of Limited Partners in a partnership, including travel, research, insurance, and legal fees. It details how expenses are shared among partners and feeder funds, and the reimbursement process for expenses paid by the General Partner or its affiliates.

key_organizations:
General Partner
Investment Manager
Limited Partners
Feeder Fund
Partnership
Parallel Access Fund


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


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the terms related to management fees, capital contributions, and payment timing for partners. The management fee is calculated based on LIBOR plus 2% or 8%, whichever is higher, and is payable quarterly in advance. Capital contributions are required from each partner based on their subscription and percentage interest, with specific provisions for initial contributions and payment methods.


document_description: This document outlines the terms and conditions for capital contributions by Limited Partners to a Partnership. It includes provisions for additional contributions, deficiency drawdowns, procedures for notice of capital calls, offsets against distributions, and the authority of the General Partner to reduce subscriptions. It also addresses the return of unused contributions.

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


document_description: This document outlines the terms and conditions related to the return of capital contributions upon the admission of an additional partner, the effect of such returns, and the consequences of failing to make required payments. It includes provisions for the distribution of partner interest, adjustments to capital accounts, and interest on unpaid contributions.


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


document_description: The document outlines the rights and remedies available to the General Partner and Investment Manager in the event of a Defaulting Partner in the partnership. It includes measures such as compulsory transfer of interest, exclusion from income sharing, forced sale of interest, acceptance of late contributions with interest, and legal actions to recover unpaid contributions.


document_description: This document outlines the rights and remedies available to the General Partner in the event of a default by a Limited Partner. It includes provisions for limiting the Defaulting Partner's rights, reallocating their interest, and enforcing penalties. The General Partner has discretion to exercise remedies and allocate income to non-defaulting partners.

key_people:
General Partner
Defaulting Partner


document_description: This document outlines the terms and conditions related to capital contributions and defaults within the partnership. It specifies the procedures and consequences for Access Fund Defaults, including the treatment of Defaulting Access Fund Investors and the assignment of partner contributions as security for indebtedness.

key_people:
General Partner
Limited Partners
Defaulting Access Fund Investor


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


document_description: This document outlines the operational rules and special distributions for a partnership, including how distributions to defaulting partners are handled, special distributions of net income and gains, and the payment of taxes by the partnership. It specifies how distributions are treated for tax purposes and the handling of tax liabilities.


document_description: This document is an excerpt from a partnership agreement detailing tax liabilities, indemnification, and capital accounts. It outlines the responsibilities of partners regarding tax liabilities and indemnification, the determination of tax liabilities by the General Partner, and the maintenance of capital accounts for each partner. It also specifies conditions under which distributions are prohibited.


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


document_description: This document outlines the special allocations of items of loss or deduction, allocations following a default, other specially allocated items, and the admission of additional partners in the partnership. It specifies how losses, expenses, and deductions are allocated among partners, including adjustments for new partners admitted after the initial closing date.


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

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


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

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


document_description: This document outlines the conditions under which a Limited Partner's interest in the Partnership can be transferred. It requires the General Partner's consent for any transfer, prohibits public trading of partnership interests, and specifies conditions under which transfers will not be recognized. It also details required representations by parties involved in a transfer.


document_description: This document outlines the conditions and restrictions on the transfer of interests in the partnership, including compliance with Section 1446(f) of the Code and other legal considerations. It specifies the obligations of transferring Limited Partners and transferees, and the conditions under which transfers are prohibited.


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


document_description: This document outlines the terms and conditions of the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes provisions on non-compliant transfers, multiple ownership, withdrawal rights, and removal of a limited partner. The General Partner has specific rights and responsibilities regarding the management of partnership interests and the handling of non-compliant transfers.


document_description: The document outlines the exculpation and indemnification clauses for Covered Persons in the partnership, detailing conditions under which they are not liable for losses suffered by the partnership or any partner. It specifies the responsibilities and protections for the General Partner and other Covered Persons, including reliance on expert advice and actions taken in good faith.

key_people:
General Partner
Investment Manager


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the indemnification provisions for covered persons, including partners, members, stockholders, directors, officers, managers, trustees, employees, agents, and affiliates. The agreement specifies conditions under which indemnification is provided, limitations on indemnification, and the advance payment of expenses related to legal actions.


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


document_description: This document outlines the indemnification and liability limitations for the partnership, including conditions under which partners may be required to return distributions. It specifies the discretionary powers of the General Partner to limit indemnification and the impact of legal restrictions on indemnification provisions.


document_description: This document outlines the procedures for amendments, voting, and consents within the partnership agreement. It specifies the conditions under which the agreement can be amended, including the consent required from partners, particularly in relation to economic rights and ERISA provisions. It also details the notification process for amendments and the concept of negative consent.


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the procedures for obtaining consents and approvals from limited partners, voting and consent requirements, and administrative provisions including the keeping of accounts and records. The agreement specifies the rights of limited partners to access certain documents and the discretion of the general partner to withhold information deemed confidential.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the responsibilities of the General Partner regarding the filing of the Certificate of Limited Partnership, the preparation and distribution of annual financial statements and tax information, and the provision of quarterly reports to Limited Partners. It also mentions the limitations on information rights for Limited Partners compared to direct limited partners of the Underlying Fund.


document_description: This document outlines the valuation procedures for partnership assets as per the Amended and Restated Limited Partnership Agreement of Glendower Access Secondary Opportunities IV (U.S.), L.P. It details how the General Partner should determine the fair market value of freely tradable securities, other assets, and intangible assets like goodwill. It also specifies the protocol for sending notices related to the agreement.


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


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


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the obligations of Limited Partners regarding compliance with FATCA and Section 1045 of the Internal Revenue Code. Limited Partners must provide necessary information to the Partnership to comply with FATCA and may face consequences if they fail to do so. The document also specifies that the Partnership is not required to elect the application of Section 1045 or comply with related tax reporting requirements.


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines various tax-related provisions and obligations for Limited Partners, including restrictions on elections under the Internal Revenue Code, requirements for maintaining tax reporting consistency, and the appointment of the General Partner as attorney-in-fact for certain legal actions.


document_description: The document outlines the powers and responsibilities of the General Partner in managing the partnership, including executing necessary documents for the partnership's operations, admitting new partners, and complying with legal requirements. It also details the obligations of Limited Partners to provide information and documentation as required by the General Partner.


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


document_description: This document is an excerpt from the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the confidentiality obligations of Limited Partners regarding Partnership Information, which is considered a valuable trade secret. The document specifies conditions under which Limited Partners can disclose such information, including to professional advisors or as required by law, and the procedures to follow if disclosure is legally compelled.


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


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


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


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

key_people:
Thomas Fortin
Michael Stanton


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

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


document_description: This document is a section of the Amended and Restated Limited Partnership Agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes definitions and terms related to business days, capital accounts, carrying value, contributions, and covered company partners and persons. It also references specific sections of the agreement for detailed definitions of terms like Covered Person, Credit Facility, and Default Rate.

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


document_description: This document outlines various terms and definitions related to the Glendower Access Secondary Opportunities IV (U.S.), L.P. partnership agreement, including definitions for Defaulting Access Fund Investor, Defaulting Partner, Delaware Act, Delayed Payment Interest, ERISA, ERISA Partner, Exempt Entity, FATCA, Feeder Fund, Final Closing Date, Freely Tradable Security, and others.

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


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines the terms and conditions related to the partnership's holdings of securities, the role of the General Partner, and the rights of Limited Partners. It includes definitions and conditions for Freely Tradable Securities, and mentions the Investment Company Act of 1940.


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes definitions and terms related to the management agreement, management fee, net gain or loss, nonrecourse liability, and non-voting interest.


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It outlines definitions and terms related to the partnership, including organizational expenses, partner interests, and partnership minimum gain.

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


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


document_description: This document is an amended and restated limited partnership agreement for Glendower Access Secondary Opportunities IV (U.S.), L.P. It includes definitions and terms related to financial obligations, third-party indemnifiers, transfer regulations, and treasury regulations. It also references the Underlying Fund, Glendower Capital Secondary Opportunities IV, LP, and its associated entities.

key_locations:
United States
District of Columbia
European Union

key_organizations: United States Department of the Treasury


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

title: Appendix II: Regulatory and Tax Allocations

document_subtype: Partnership Agreement Appendix


document_description: The document outlines the allocation of income, gain, loss, deduction, or credit among partners in accordance with the partnership agreement and tax regulations. It includes provisions for special allocations to reflect economic interests and tax allocations considering the carrying value and adjusted basis of partnership property.


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

document_date: January 2018

document_subtype: Private Placement Memorandum


document_description: This document is a confidential private placement memorandum provided by iCapital Advisors, LLC to sophisticated investors for investment in Glendower Access Secondary Opportunities IV (U.S.), L.P. The fund aims to invest in Glendower Capital Secondary Opportunities Fund IV, LP. The memorandum includes details about the investment structure, legal disclaimers, and regulatory compliance, emphasizing that the interests are not registered under the U.S. Securities Act of 1933 and are offered under exemptions.

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

key_locations: Delaware U.S. England


document_description: This document is an investment memorandum for the Access Fund, which is suitable only for sophisticated investors due to high risks and lack of liquidity. It outlines the legal and financial disclaimers related to the investment, emphasizing that investors in the Access Fund will not have direct interests or rights in the Underlying Fund managed by Glendower. The memorandum also specifies that it is not an offering of interests in the Underlying Fund and provides a list of EEA countries.

document_subtype: investment memorandum

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


document_description: The document is an investment memorandum related to the Access Fund and Underlying Fund managed by Glendower. It outlines the indirect interests, management rights, and potential risks associated with the funds. It also discusses the historical investment performance, forward-looking statements, and the terms of the Underlying Fund, which are subject to change. The memorandum emphasizes the importance of investors conducting their own examination of the fund and being prepared for potential losses.

key_organizations:
Glendower
Access Fund
Underlying Fund
General Partner
Investment Manager