EFTA Document EFTA01364702

SOUTHERN FINANCIAL LLC III. CERTAIN RISK FACTORS AND POTENTIAL CONFLICTS OF INTEREST Potential investors should carefully consider the risks of an investment in the Access Fund, which include, but are not limited to, the risks outlined below as well as the detailed discussion with regard to risks and conflicts of interest generally applicable to the Underlying Fund set forth in the Underlying Fund PPM (attached hereto in Appendix A). All private fund investments involve a risk of loss of c