Base Erosion

Fund

Investors

The Organization for Economic Co-operation and

the Investment Company Act

the U.S. Investment Company Act

BEPS

the Anti-Tax Avoidance Directives

Anti-Tax Avoidance Directives

OECD

the 'Investment Company Act

the European Council

Absence of Investment Company Act

the General Partner

G20

REPS

Confidential Private Placement

Confidential Prnrate Placement

SOUTHERN FINANCIAL LLC Section 7: Risk Factors Glendower Capital Secondary Opportunities Fund IV

Sony