Nationwide PPVUL Separate Account - 4

Jessica Dowdy is listed as the sole named GP despite no prior EDGAR filings from this manager, which means either Nationwide is making its first SEC filing appearance or Dowdy operates under a different legal entity—allocators should clarify whether this is a newly launched mandate, a rebranded operation, or a GP moving into a separate account structure for the first time.

Filing in May 2026 as an amendment (not an initial offering) suggests Nationwide is mid-deployment or mid-commitment cycle and needed to expand or adjust the vehicle's parameters; this timing aligns with LP rebalancing windows but the amendment status implies the raise itself is not brand-new, limiting competitive pressure from a fresh market entry.

Verify whether Jessica Dowdy has personal key-man provisions tied to her continued involvement and whether this separate account has LP-specific side letters that differ materially from any master fund structure; also confirm whether Nationwide has other concurrent fundraises or parallel vehicles for this strategy, as separate accounts sometimes operate alongside commingled funds with overlapping mandates.