EFTA Document EFTA01386562

GLDUS238 SOUTHERN FINANCIAL LLC This confidential private placement memorandum (as amended or supplemented from time to time. this "Memorandum') is furnished on a confidential basis by iCapital Advisors, LLC or an affiliate (the "Investment Manager') to a limited number of sophisticated investors ("Investors') for the purpose of providing certain information about an investment in limited partner interests (the "Interests') in Glendower Access Secondary Opportunities IV (U.S.), L.P., a Dela