EFTA Document EFTA01451877

SOF III - 1081 Southern Financial LLC Unlike the Onshore Feeder Fund Management Fee, the Master Fund Management Fee applicable following the Investment Period is based on the total amount of a limited partner's capital that has been invested by the Master Fund over the life of the Master Fund, including amounts returned to the limited partner from distributions. Placement Agents and Sales Charges Default by Limited Partners The Feeder Funds may utilize affiliates of Deutsche Bank to s