From: Richard Joslin
Sent: Friday, December 19, 2014 1:02 PM
To: jeffrey E.
Subject: passive income generator
In speaking with Apollo tax group, there is an Apoll= Nat Resource fund that will likely generate (tax) passive income in
initi=l years. This might be a good investment LDB to generate more passiv= income so as to allow current tax
deductions for Artspace/ Regan Arts/ US portion of Phaidon
https://www.altassets.net/private-equity-news/by-news-type/fund=news/apollo-eyes-up-to-3bn-for-new-natural-
resources-fund.html <https://www.altassets.net/private-equity-=ews/by-news-type/fund-news/apollo-eyes-up-to-3bn-
for-new-natural-resources=fund.html>
Richard Joslin
CFO
Elysium Management LLC
445 Park Ave
Ste. 1401
New York, NY 10022
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