GLDUS138 Ian Slome Section 5 Fund Management Glendower Capital Secondary Opportunities Fund IV. LP Fund Management Glendower Capital Glendower Capital is an independent investment firm, privately owned by its partners and focused on secondary private markets formed by the secondary opportunities team that spun-out from Deutsche Asset Management on August 1, 2017. The senior team led by Carlo Pirzio-Biroli and Charles Smith has worked together for 15 years at Deutsche Bank in its asset management division. The secondaries business, co-founded by Carlo and Charles in 2006. has raised and invested four vehicles (SOF, SOF D, SOF II, and SOF III) with US$3 bilkon of commitments in total. Glendower Capital has two office locations in London and New York. with a 23-strong team expected to grow to 26.28 by the first half of 2018. The 16 investment professionals have an average of 12 years of relevant experience. Glendower Capital operates according to the same sourcing, underwriting, portfolio management and fund administration processes that the SOF Team developed in a self-contained and integrated manner when it was established in 2006.T1 Glendower Capital leverages an extensive database and network of relationships developed over 15 years in the secondary market with investments in over 350 fund interests globally. Management of the Fund The General Partner of the Fund will be indirectly owned by the partners of Glendower Capital and its board of directors will be comprised of entirely independent directors. Bnef biographies of the proposed directors of the General Partner are set out in Appendix 7: Board of Directors of the General Partner. SOF IV will be managed and operated by Glendower Capital from within the UK. Glendower Capital is authorized as an AIFM by the FCA and will act as the AIFM to SOF IV and assume responsibility as such. Investment Team The Glendower SOF Team is comprised of 16 investment professionals dedicated to originating, val