Funds  |  Headway for Sellers  |  Headway for General Partners : SELLERS All types of private equity investors are now actively using the secondary market to achieve liquidity for a wide range of strategic and financial reasons: Sellers Reasons for Selling Banks Corporations Insurance companies Pension funds Endowments and foundations Family offices and individuals Private equity funds Reduce private equity exposure Refocus on core businesses Rebalance portfolios Redeploy capital to other investments or opportunities Reduce administrative burden Reduce volatility of earnings Reduce unfunded commitments Meet current cash needs From a seller's perspective, Headway's broad secondary investment mandate enables us to provide liquidity for all types of private equity investments: limited partnership positions, portfolios of direct investments and co-investments. Headway has no specific geographic or sector restrictions and invests across all investment stages from venture to buyout. Leveraging our deep experience in structuring secondary transactions, Headway works in partnership with sellers to understand their unique needs and objectives in order to create mutually beneficial solutions through tailored solutions. We also pride ourselves on our ability to efficiently and effectively evaluate and execute any secondary investment opportunities. 25 Maddox Street, 2nd floor, London, W1S 2QN England. Main: +44 20 7518 8888 Fax: +44 20 7900 3160. info@headwaycap.com Authorised and Regulated by the Financial Services Authority. Copyright © Headway Capital Partners LLP, 2008. All Rights Reserved.