EFTA Document EFTA01354675

GLDUS125 Gerald Ford Section 2: Investment Performance Glendower Capital Secondary Opportunities Fund ft/, LP In Exhibit 2 each of SOF. SOF D. SOF II and SOF III is benchmarked against its vintage peer group reported in the Cambridge Associates Secondaries Benchmark statistics (September 30, 2017). The SOF Funds present comparatively strong Net IRR. DPI and TVPI across each vintage year. Exhibit 2: SOF Funds performance versus Cambridge Associates Secondary Fund Benchmark " 34 37 Secondary funds: Net IRR to limited partners Secondary funds: Net multiple to limited partners SO% ASS 1011 'S. • CIpaa Coat low ad.,* • Wax, sac nes SO, ric Wit 2* 10% BCC a sots t i I IS. 2044. . 20v. iers • • ; S I t t I le 05. 51, sr 60. Iva I SC DPI • I it, 00 01, 14 •• II 04 $5 /6 s 0 tint t n Dm. w SO; :TI: I I, Dr e1111, iVAr I3. OPI • 0 I . or of to 13 13 11 show On maw mot r SOF Ws CF4 SCF tea RYPI In Exhibit 3. each of SOF. SOF D. SOF II and SOF III is benchmarked against its vintage group of top quartile buyout funds reported in the Cambridge Associates Global Buyout Benchmark as of September 30. 2017. Again, the SOF Funds present comparatively strong Net IRR, DPI and TVPI across each vintage year. Exhibit 3: Buyout•hke returns with a secondary risk profiles n •• 0'4 Xdf. PA 1,A Ain .R0 .ani alt A" or) I Wee C. • it••• latter 4.1 a% 1 • COFD X•P % I an. • its J • 3C0 *y e f• LOP 4 es 1so: sot art 0 Some: Cambridge Associates Secondaries Sendimaik statistics as of September 30 2017 SOF Funds are shown benchmarked against their Waage year peer gray SOF and SOF 0 performance is it< included in the data se teed to calculate the tendvnark data Note that the performance Wee in reaped d SCF and SOF D have not been audited and sliCuld be read and reviewed in COnitettai Will Amender 5 !ovarian' ParlonnanCe Intamatton Past pedamance of SOF Fulls 6 not a predation of future performance. Information presented n Exhibt 21s based at the moulted results ol SOF, SOF D. SOF II and SOF III as of September 30. 2017 Past performance is rat a OfeCktICO of the future performance of SOF, SOF D. SOF II or SOF III but is included to demonstrate the track record or the Genders SOF Team There can be no aesurance that SOF fit win achieve combated° results or that any target resultswill be acheved DPI = Cwarlaulens to Paid-In Capital. RVOI = Residual Value to Paelan Capful. TVPI = Total Value to Paidan Capital Source' Cambridge Associates Global Buyout Benchmark as of September 30. 2017. The in:dna/an reflects a comps icon of SOF. SOF D. SOF HS SOF HI performance against one benchmark only Past performance 6 not a prediction ol the !awe performance of SOF. SOF D, SOF II. SOF III or any other Glendower fads dnd there can be no assurance that SOF rtr will achieve compared° resifts or that any target results will be achieved. but is included to demonstrate the track record of the Glendower SOF Team IMormatcc presented in this chart is based on the unaudted Krauts d SOF. SOF a 9CF 11 and SOF III as of Seaembet 30.2017 and should be read and reviewed in COnpriCt•On and *band be lead and IC•aa•Cd in conjunction with Appendix 5 I tripatant Pet nine Intrination %trial sets forth amongst other throe important mfamalion regarding the performance dowsed above Confidential Private Placement Memorandum 9 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0039271 CONFIDENTIAL SDNY_GM_00185455 EFTA01354675