GLDUSI25 Gerald Ford TABLE OF CONTENTS I. INTRODUCTION II. SUMMARY OF PRINCIPAL TERMS OF THE ACCESS FUND 2 M. CERTAIN RISK FACTORS AND POTENTIAL CONFLICTS OF INTEREST 20 IV. TAX, REGULATORY AND CERTAIN ERISA CONSIDERATIONS 36 Appendix A: Confidential Private Placement Memorandum of Glendower Capital Secondary Opportunities Fund IV, LP (as supplemented by the Supplement to the Confidential Private Placement Memorandum dated November 2017). Proprietary• and Confidential CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0039194 CONFIDENTIAL SDNY GM_00185378 EFTA01354599