EFTA Document EFTA01392559

GLOUS128 Patrick Gerschel Benefits of secondary private equity investing Attractiveness of secondary opportunities' Secondaries can result in earlier cash flows' In 'WO Timeframe of secondary investment 1.400 Pricing - Re-price existing funded assets 1,200 Flexibility - Capitalise on pricing inefficiencies 1,000 800 Hypothetical Mitigate Blind - Knowledge of existing underlying companies 600 timing of secondary Pool Risk - Mature assets typically yield more predictable cash