EFTA01451812

SOF III - 1081 Southern Financial LLC DB Secondaries is positioned to emphasise pricing discipline over volume Mid-sized funds Small funds Fund size' $m 10.000 — PE market indexing — Global — Volume-driven 2000 --- Value investing — Regional / global — Selective, pursue proprietary deals 500 • • — Value investing a — Local • • — Niche strategies • 100 ••• 4— dIINr eak • ite, ' • • • • • • • aft • • • a 0 • 'I • • 0 • • • • • • • • • • al 8 • • 9 o • • •• a •• . S. • a • • • • a a • • O • 1936 1998 2000 2002 2004 2006 2008 2010 2012 2014 Fund size • 4500m 04500m (raising) • 08 Secondaries Sows: Preen tibial:dim December 2013. peovec.corn Sop/ember 4.2013. 1 Sue of cuclo cortelat Mackstone Group. S Now post of ropstone Group. Deutsche Asset Wealth M9oaJentn(:€ • 5500.2000m • >S2000m ,:•$.5C0 • 2000m (raising) O )12000m (raising) • AlpInvest2 • Ardian3 • Coller • Goldman Sachs • HarbourVest • Landmark • Lexington • Adams Street • Arcano • ARCIS • Committed Advisors • DB Secondaries • Fondinvest • Greenparks • LGT • Neuberger Berman • Pantheon • Partners Group • Paul Capital • Strategic Partners' • Hamilton Lane • JPMorgan • Morgan Stanley • Newbury • PineBridge • Pomona • Portfolio Advisors • 17 Capital • Access • Adveq • Auda • Capital Dynamics • Cubera • Five Arrows • Headway • Keyhaven • Montauk TriGuard • Permal • Private Equity Investors • RCP • TIFF • Unigestion • VCFA • Willowridge tvdrt the rem of the fund. 2 An &Albite ol The Call* Group 3. Formerly know, as AM. 4 An altitude of thu 22 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0 108630 SDNY_GM_00254814 EFTA01451812