EFTA Document EFTA01392457

GLDUS1 28 Patrick Gerschel Section 7: Risk Factors Glendower Capital Secondary Opportunities Fund IV. LP Emerging markets risk The Fund may hold interests in investments of the underlying funds in countries that are considered "emerging markets'. Investors should consider a number of risks associated with investments in emerging markets countries. For example. investments may be subject to changing political environments, regulatory restrictions, and changes in government institutions and