GLOUSI44 Glenn Warren
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 Lased on Greenhill Secondary Markel Trends & LASlook, Jemmy 2018: G•eertrill GP •'Shier* DisztKiwn fMterats. May 2017: and N.' Jon-es Rrvater ty
Analyst Guide to the Secondary Marker. June 201! .
F = FtneCaSt There is Elowarmitee the egrnate €rrihfi0!ttd weint erraze.
Past market volume is not a prediction or 9uarantee• of future market volume.
Glendower STRICTLY CONFIDENTIAL
Capital
CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0097392
CONFIDENTIAL SDNY_GM_00243576
EFTA01392211