EFTA01364734

SOUTHERN FINANCIAL LLC Proprietary and Confidential — Supplement to the Private Placement Memorandum GLENDOWER ACCESS SECONDARY OPPORTUNITIES IV (U.S.), L.P. AN "ACCESS FUND" INTO GLENDOWER CAPITAL SECONDARY OPPORTUNITIES FUND IV, L.P. OFFERING OF LIMITED PARTNER INTERESTS March 2018 This supplement (the "Supplement') may only be distributed in conjunction with the Confidential Private Placement Memorandum dated January 2018 (the "Memorandum') relating to the offering of limited partnership interests (the "Interests') In Glendower Access Secondary Opportunities IV (U.S.), L.P. (the "Access Fund'), which is hereby incorporated by reference. Potential investors considering the purchase of Interests in the Access Fund should carefully review this Supplement and the Memorandum. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0055282 CONFIDENTIAL SONY GM_00201488 EFTA01364734