GLOUS238 SOUTHERN FINANCIAL LLC Glendower Capital Secondary Opportunities Fund IV, LP Section 4: Glendower Capital Secondary Opportunities Fund IV, LP Confidential Private Placement Memorandum 14 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0055312 CONFIDENTIAL SDNY_GM_00201496 EFTA01364764