EFTA Document EFTA01389914

GLENDOWER ACCESS SECONDARY OPPOR FUNI I IES IV (U.S.). LP END NOTES Note, Investors In the Access Fund will to subject to fees, expenses and performance compensation of the Underlying Fund In ackellors to the Access Fund Fee and Ames expenses and will experience lower returns than investors committing directly to the Underlying Find as a result of the fees and expenses associated with an Investment in the Access Fund. MS' will receive an additional Too, directly or indirectly from the Underlying Fund (or as affiliates aorta«) Find Minn:ear , Date Mat norm the ;ask day ol the toliteentn calendar month forlownno the month et whom trre Innad Closing actin Or ',An opt. dere as øeterril,ned ty; the Genteel *flea and COriumerd ro by fee Acfc COmMåt tet Dint m it, sole cliseretron reserves the right to wane all or any portion of tha Placement Foe bergabe by any oarecuir Linseed Partner The Accts. Fund Management Fee will be split between Capital AktriSCfS end OBSI with a substantial portion rebelled to DISSI Pete see the 'duvet* Ftasement Ilaniorandum of the Access Fund for Kidney clarinets -, Ceiconstron bests • Limited Partners capital contentment. b Coe:silk-en bind = knested Capital es fully defined in the Underlying Fuel LPA (pareedly. kneeled Crditel at the Verclenying Fund is the aneroid of cednel invested in irrantmges ord the remaining ordonled Croligations reasonably reserved for such Investments ) Investors making e svisscription equal to or great!, Men 45 million hare the option incetind dereCtly nt...; the Untenerdig Fund a' the Underlyre Reefs dincreekån ^fly defect ~Mori will ni-ot to.tarte this IS bor. a.scoont, against management for. from the Underlying Fund investors who cat! directly in.(' me Underlying Fend will rot ba sorriest to Access Find empresses. Neia. OBsi /co acts as placement agent he lirsderiying Find and wili receive related mr being fees Pities* see the Private Pacernens elemoirdran of Me Access Fora for (unbar informants. Neither Glendaser Capital, LIP nor reel:inn! Att.». s, LIlt an: delisted ungt DA.A. IMPORTANT INFORMATION CONTINUED he 'Namstan contarral harem (Mrs lareostation) is for repneerenci and chwinr:bn ouooses orgy and is not. and may not be robed on in any nearer loPP, tax or nvestment sots e, any reammeedation of °gallon regrodin9 the eolPerin nlynell lutalPffer or any Investment or strategy. or as an uric to sell or a salicibstien of an offer to tun ea abt, +it =1 Olendower Caned .5e:carboy OptertsneteS Furd U' (tic "Linriedyiro Furor) Cdtrekiveer ArCeii Seconder? Oceaorbeirre I W (AS). LP (Me 'ecertIl NOW) A. Private offering or •Vereg.ta in the Access Fund win be made an y nuts.relt ro too Access Funes Private Placement MtmoiarduM (the -Offering Memorandum"). when wdl be furuaret onn: ra di~ed peOSS)9CINO:nVOItOn on a Zen, dential basis. The Presentation is encirf red in its entirety by rate:~ to the Offering teemorarehen, vetch contains moredetailed inloi manor. about the Access Fuses investment derriere. tarm: ed *retaken and dia contains tax information and ink clitiosures that are ninon:on to any in vntrrrtnt deCebOr›teswd.rq the ACCess pereorhe, been aufeccireo to mat.? WI,/ smerntrot concerning the Accred Fond other than ss set forth et the Offering Pernenendurn and env such statements. if made, ma, not te stied upon. The inIcyrnation contained herein most be kept strictly confident/et and stay nat be reproduced or redarrlboted in rsy format without ens eboroval of the (rented Frew< of the Access Fad a -either:ventral Prints of tee ~lye* Furl 1173 Prcentation. other then the daserioner of the Acceao Ford Tarns. Wen not creased 'at the Abress Fond zni does rot et-nerd:a an invest:eat rn the Access Fund. There are important differences between the Acorn Fund and the lindei lying Fund described et the Pnisentollon. An crestment et the Access Fund is not sorters* for as unestord. Pro ;twin, cankeel , Vital Do awaio :het inesstrng rn eltes ecor Fud smerves neigh Oedema tide Terre Can be IN) aSSI.W.V•te to t ^vt 4CO11; Fufd o see Vigtedying Ford sod bdwra; trait investment ohineires or that investors vell roans. a when on that caned The pond:arty of partid or total loss of Crick,' Will exist and prospective investors man be rmeratrad 10 hear capita! 'awes that may resit from irnestmeras. tilers wa be restrictions on trandeinno interests tr. tee Access Fund. investments may be kcal aged end the Coeditors! ixiffennance may be yid Perloie &biding to cow in the Pace:is Fad, Prow...rare woncirort ilvald reed the Oflei ing !lemur Seidman and bey pat -adds ettenti,3,4)06RiVr llama contained oxeeo The fees and esoentes dsarcrtd lusen wivestment in the .sisteel Fund may be higher theintht few and expenses Ol other insiestment alternatives and may offset pnstrts Both the Access Fund >act tnt ~lying adiniraStiatne or mangelsent fees. <us:octal xi:An:silting text other service fees. onownwinco iglocancnis ana Othei *N5anSce; tnat tr, ..8110i$ trodd nitre da &wired atriity and ....nodose:: to accept tnt isk chnrectonstics of the Accat; Fund's investments. Potential confIcts of interest may arise between the Genial Platelet end the Lientsd Partner,. lo ch conflicts ol intern: are deigned new filly in the Offering fauna ancorn In contdanng sly pipicymanoe nytte can ir. the gm-pribItian. }vu should bevy n mind Met pad or targeted ptificarence is 04: Wicket .. al fixt:r0 niaitS and r tore can be no alltgaCAT that the limas: Ford or the redrelying Fund will atheave cornpaiable results. Prospective investors should also bear n mind that past or targeted ozAlfc4-., chracteristes re not wocatwe Cd lutwe opitfolio eharaCteiStka end here cio 1 be )o assure* that any hand will have consomelle portfolio character rites at that target ossrUcto I:hermit istics opti tie actrecel Tngt Vain Of eineenYee‘n Can ,» down as, %NW! el 1,5,. In antitom. there <an be rW assaaixe the: unlearned investments vat re red ar the getguationG showgin a; rictus realized returns will depend Oft among other fierce% future operating results the value of the assets and makes cocoas's-is at tre time of disposition any *wed tmosection costs. and the timing or d malier of sago. cl of which nosy be afferent flow. the risiy-.~ns nr wi-rch the wiled:ions contained twain ate crated IRRs presented one 'gross" ham do not reflect eny mystic -mesa lees cal 'tad proleier.l. Imes and Sicce:Ns *menses tome by nesters:. when in the aggregate may be %An! ants; lb,stlorb. actual bark,rwet of the Undo vein Fund after ~Lehrer of such fees end rugerat; worAd be Power !hand", (Foss Performance reflected in ties CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0094280 CONFIDENTIAL SDNY_GM_00240464 EFTA01389914