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sd-10-EFTA01451870Dept. of Justice

EFTA Document EFTA01451870

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SOF III - 1081 Southern Financial LLC If an Investor becomes a U.S. Taxable Investor after investing in the Offshore Feeder Fund, adverse tax consequences could result for the investor. The Investment Manager (as defined below) may, in its sole discretion, allow an Investor who otherwise qualifies for an investment in the Offshore Feeder Fund to invest directly in the Onshore Feeder Fund. In addition, certain Placement Agents (as defined below) may act as nominees (each, a "Nominee") on

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Dept. of Justice
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sd-10-EFTA01451870
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