To: ealexandersomaelyslic.com Jeffrey
Epsteineeevacationagmail.com]
From: Richard Joslin
Sent Sun 6/1/2014 11:16:21 AM
Subject: club deals
http://www.bloomberg.cominews/20 I 4-05-28/family-offices-tcam-up-taking-pagg-from-privatc-
cquity.html
The deal illustrates a recent trend among family offices, the little-known money managers that run
the fortunes of the world's richest individuals including computer maker Michael Dell and
Microsoft Corp. (MSFT) co-founder Bill Gates, to team up with likeminded peers for direct
investments in companies. They're trading in some of their traditional secrecy, pooling assets and
knowledge to make venture capital and private-equity deals much like buyout firms do in so-
called club deals, while circumventing the fees charged by those firms.
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