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sd-10-EFTA01390954Dept. of Justice

EFTA Document EFTA01390954

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GLOUS113 Cliff Wig Secondary market shows a balanced capitalization Strong US$bn 140 120 secondary capital supply'... 125 ... but US$bn 700 600 dry powder/deal volume remains balanced2 Dry Powder 3.7x • Deal volume <1- Cry Fbw der Deal Volume 100 - 500 GlendowerCapital estimates that 2.2x annual deal volume is 80 available to deployin Secondaries 400 60 58 300 40 • 200 ••• a:, 2.2x 20 100 ill ill 0 0 Dry Powder Annual Deal Volume it) Source: Glendower Capita

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Dept. of Justice
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sd-10-EFTA01390954
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