EFTA01451587

SOF III - 1081 Southern Financial LLC Section 6: Fund Management Secondary Opportunities Fund III: LP Fund Management Management of the Fund The General Partner will be owned independently from Deutsche Bank and its board of directors will be comprised of entirely independent directors. The Manager is a wholly-owned subsidiary of Deutsche Bank. Brief biographies of the proposed directors of the General Partner are set out in Appendix 7: Board of Directors of the General Partner, and biographies of the current members of the Secondary Team are set out below. Secondary Team The Secondary Team is comprised of 10 investment professionals dedicated to originating, valuing and managing secondary investments. Five of the team members, Carlo Pirzio-Biroli, Charles Smith, Chi Cheung, Adam Graev and Francesco Rigamonfi, have worked together since 2007. Confidential Private Placement Memorandum 45 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0108274 CONFIDENTIAL SDNY_GM_00254458 EFTA01451587