BEPS

Investors

G20

the General Partner

Absence of Investment Company Act

the Anti-Tax Avoidance Directives

the 'Investment Company Act

the Investment Company Act

Base Erosion

the U.S. Investment Company Act

The Organization for Economic Co-operation and

the European Council

OECD

Fund

Anti-Tax Avoidance Directives

REPS

Confidential Private Placement

Confidential Prnrate Placement

SOUTHERN FINANCIAL LLC Section 7: Risk Factors Glendower Capital Secondary Opportunities Fund IV

Sony