SOF IV Final Closing

July 31, 2019

Glendower Capital announced the final closing above the initial hard cap at US$2.7 billion for Glendower Capital Secondary Opportunities Fund IV, LP ("SOF IV"), its fourth global secondary private equity fund. SOF IV represents Glendower's first fundraising since its founding by its partners as an independent secondary private equity manager in 2017. Investors in SOF IV represent a high quality, diversified global group that include public and corporate pension funds, sovereign wealth funds, insurance companies, endowments, foundations, wealth platforms and family offices.

Commenting on the closing, Carlo Pirzio-Biroli, CEO and Managing Partner, said, "We are honoured and very grateful for the strong support of our existing investors, as well as the new investors that joined our program in this fund. In line with the fast growing secondary opportunity set, we have more than doubled the size of our team since the firm's founding and significantly invested in resources to continue strengthening our platform. We maintain a high degree of conviction in the asset class and are focused on our mission of delivering outstanding results for our investors now and into the future by coupling attractive risk-adjusted returns with high quality client services."

Charles Smith, CIO and Managing Partner, added, "With the experience and depth of our team, we believe Glendower is well positioned to take advantage of immediate and medium-term investment opportunities, and the investment program of SOF IV is off to a strong start. The very positive response from investors is a testament to the quality and experience of our team and successful secondary investment strategy pursued together since 2006."

The private funds team at Debevoise & Plimpton LLP served as legal counsel to Glendower Capital.