BLACK FAMILY GROUP
LIQUIDITY TERMS - HEDGE FUNDS
APR 30. 2014
Liquidity Terms
Subject to
Investor Investment Frequency Notice Limit Lock-Up
NON-APOLLO
Black Family Partners Anchorage Capital Partners, L.P. Annually (Anniversary: 6/30) 90 days None No
Black Family 1997 Trust Buckingham RAF Partners, L.P. Annually (Calendar) 30 days None No
Black Family Partners Canyon Value Realization Fund, L.P. Annually (Calendar) 90 days None No
Black Family Partners Lone Cascade, L.P. Quarterly (Calendar) 30 days None No
Black Family Partners Millennium Group USA LP Quarterly (Calendar) 90 days Greater of 17.5% or $150M No
APOLLO
Black Family Partners Apollo SOMA Co-Investors. LLC APOLLO TO CONFIRM
Black Family Partners Apollo VIF Co-Investors, LLC APOLLO TO CONFIRM
EFTA01192499