GL0US124 BBR Partners
Secondary market volume remains at record levels
Market is evolving with GP-led transactions now representing 25% of volume
Secondary market volumes 2006 - 2018F
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018F
GP-led Secondary ■ Fund Secondary
Source. Glendower C-apitri analysis. and own est:Oates based on Greenhill Secondary Markel Trends & f_kelook, Jemmy 2018: Geenhul! GP •'Shier* DiectKiwn fMterats. May 2017: and Dow Jon-es Rrvater ty
Analyst Guide to the Secondary Marker. June 201! .
F = FtneCaSt There la Elowarmitee the eVirnate tiFhlicifted weint ernOze.
Past market volume is not a prediction or innranteit of future market volume.
Glendower STRICTLY CONFIDENTIAL
Capital
CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0096496
CONFIDENTIAL SDNY_GM_00242680
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