EFTA Document EFTA01386658

GLDUS238 SOUTHERN FINANCIAL LLC Section 7: Risk Factors Glendower Capital Secondary Opportunities Fund IV, LP Leverage The leveraged capital structure of some vintage funds and portfolio companies in which the Fund may directly or indirectly invest will increase the exposure of such investments to adverse financial or economic conditions such as significantly rising interest rates, severe economic downturns or deterioration in the condition of tlx: investment or its corresponding market.