GLDUSI 33 Georgetown University Endowment Section 4. Glendower Capital Secondary Opportunities Fund IV. LP Glendower Capital Secondary Opponunities Fund IV. LP Glendower Capital Secondary Opportunities Fund IV, LP S0F IV is being established by Glendower Capital as the successor And to the S0F Funds to pursue the same investment strategy as the S0F Funds in the secondary market and will follow processes established by the Glendower S0F Team in the S0F Program.42 Investment Strategy In line with the focused and disciplined investment strategy that has generated strong returns in the S0F Funds to date.43 the Fund will target the acquisition, holding and disposition of a diverse portfolio of investments including buyout, growth capital, venture capital, special situations, turnaround, mezzanine and distressed opportunities, real estate and infrastructure assets on the secondary market. The Fund will target globally. but primarily in the U.S. and Europe, three types of investment: 1. Fund Secondaries, the purchase of LP interests in wasting private equity funds: 2. GP-led Secondaries, which can often involve greater complexity than traditional Fund Secondaries, and include spin-in/spin-outs, tail-end restructuring, asset liquidations and LP tenders; and 3. Single Asset Deals into individual private equity comparies, either at the time of the original acquisition, or later from an investor seeking early liquidity. The Manager will primarily allocate capital between these three strategies depending on its assessment of the relative attractiveness of the transactions available at any point in time. During the Investment Period the relative weightings of each of the three strategies may vary as the Manager's assessment of their relative attractiveness changes. The Fund will focus on smaller Fund Secondaries of USS5 million to US$100 million sourced from a mix of small institutions, family offices and private investors coupled with the opportunistic pu