EFTA Document EFTA01392574

GLOUS128 Patrick Gerschel GP-led transactions and single asset deals liustrative case studies Project / Fund Deal Size / Funds / Seller Description Discount' assets / region Porter US$220m 2 funds Multiple (SOF II & 9% 8 assets SOF III) US Southern European bank Laurel US$147m 11 fund (SOF II & 24% 33 assets SOF III) Europe lonesco US$28m 1 asset (SOF II) NA Europe Fitzgerald II US$37m 1 asset (SOF III) 10% US Ulendower Capital LBO fund Global bank Motivated GP seeking to recapitalize 2006 mid-market fund and provide liquidity to fatigued investor base Eight US market leading companies in the construction sector with visible growth potential, low leverage 1 1 1 I • Significant downside protection through securities owned (senior, PIK preferred and structured notes) • GP known to SOF Team through prior fund investment • Motivated, distressed sole LP seeking to divest its captive, non-core private equity business • 33 buyout, growth equity, real estate and energy assets in 11 funds in UK, 1 1 1 1 1 France, Poland, Czech Rep., Bulgaria, Macedonia and Turkey • Highly structured deal allowed for full asset due diligence • Downsized captive team led by new CEO hired by SOF Team • Opportunity to underwrite attractive LBO of leading manufacturer of polymer substrate for bank notes • GP motivated to quickly syndicate investment after broken auction blocked by Central Banks 1 I 1 1 Company benefited from Bank of England contract for £5 and £10 notes Secondary purchase of co-investment position in First Data, a leading payment processing company • Motivated seller was a bank invested in original buyout who had to sell for regulatory capital reasons ahead of IPO 1 1  • Asset well known to the SOF Team STR OILY CONFIDENTIAL CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0097821 CONFIDENTIAL SDNY_GM_00244005 EFTA01392574