EFTA01101357Set 9
2014-11-11100p33,298w
EMPIRE
VALUATION CONSULTANTS, ac
PRIVATE & CONFIDENTIAL
November 11, 2014
Alan Halperin, Esq.
Paul, Weiss, Ritkind, Wharton & Garrison LLP
1285 Avenue of the Americas, Suite 3115
New York ... Dear Mr. Halperin:
You have requested Empire Valuation Consultants, LLC ("Empire") to estimate the
fair market value of a 2.4038% limited partnership interest (the "Interest") in Black
Family Partners ... Partnership") as of April 24, 2014 (the
"Valuation Date"). It is our understanding that this summary letter will be used by
Mr. Leon Black for estate planning purposes.
Valuation Summary
https://www.justice.gov/epstein/files/DataSet%209/EFTA01101357.pdf
EFTA01086276Set 9
2015-11-03108p35,449w
EMPIRE
VALUATION CONSULTANTS. isc
PRIVATE & CONFIDENTIAL
November 3, 2015
Alan Halperin, Esq.
Paul, Weiss, Rifkind, Wharton & Garrison LLP
1285 Avenue of the Americas
New York, NY 10019-6064
Dear ... Halperin:
You have requested Empire Valuation Consultants, LLC ("Empire") to estimate the
fair market value of a 1% limited partnership interest (the "Interest") in Black
Family Partners ... Partnership") as of September 3, 2015 (the
"Valuation Date") on behalf of your client, Mr. Leon Black (the "Client"). It is
our understanding that this summary letter will be used
https://www.justice.gov/epstein/files/DataSet%209/EFTA01086276.pdf
EFTA01086067Set 9
2014-03-03101p34,062w
EFTA01086067
EMPIRE
VALUATION CONSULTANTS. tic
PRIVATE & CONFIDENTIAL
November 1I, 2014
Alan Halperin, Esq.
Paul, Weiss, Riflcind, Wharton & Garrison LLP
1285 Avenue of the Americas, Suite 3115
New York ... Dear Mr. Halperin:
You have requested Empire Valuation Consultants. LW ("Empire") to estimate the
fair market value of a 2.6640% limited partnership interest (the "Interest") in Black
Family Partners ... Partnership") as of March 3, 2014 (the
"Valuation Date"). It is our understanding that this summary letter will be used by
Mr. Leon Black for estate planning purposes.
Valuation Summary
https://www.justice.gov/epstein/files/DataSet%209/EFTA01086067.pdf
EFTA00608391Set 9
2007-10-18137p42,170w
EMPIRE
VALUATION CONSULTANTS, ac
PRIVATE & CONFIDENTIAL
October 18, 2007
Carlyn McCaffrey, Esq.
Weil Gotshal & Manges LLP
767 Fifth Avenue
New York, NY 10153-0119
Dear Ms. McCaffrey:
You have requested ... Empire Valuation Consultants, LLC ("Empire") to render its
opinion as to: 1) the fair market value of each of limited partnership interests in
the fund management entities, as defined below ... exchange for the
contribution of the Management Interests (the "AMHLP LP Interest"). These
valuations are as of April 16, 2007 (the "Valuation Date").
The Management Interests include limited partnership interests
https://www.justice.gov/epstein/files/DataSet%209/EFTA00608391.pdf
EFTA01127193Set 9
2012-02-0785p9,614w
gold on paper
9 1/SXS IAinches
$4,000
Sotheby's
07 February 2012 I Valuation Number 7O22M84 I Page 10
EFTA01127193
NEW YORK, NEW YORK
LAIN AMERICANPAINTINGS
290 ROBERTO MATTA ... inches
$2,500,000
Sotheby's
07 February 7017 I Valuation Number 70728684 I Page 82
EFTA01127195
NEW YORK, NEW YORK
MASTER DRAWINGS
296 WILLIA
3YKCB The Parable ise andFoolish ... brown ink
934 x814 inches
$22,500,000
Sotheby's
07 February 30171 Valuation Number 7027{604 I Page al
EFTA01127196
NEW YORK. NEW YORK
OLD MATTER DRAWINGS
300 JACQUES
https://www.justice.gov/epstein/files/DataSet%209/EFTA01127193.pdf
EFTA00169583Set 9
2013-10-2832p13,785w
upon a demand made by the Secured Party on or
promptly following a Valuation Date, if the Delivery Amount for that Valuation Date equals or exceeds the
Pledgor's Minimum ... otherwise specified in Paragraph 13, the "Defivery Amount" applicable to the Pledger for
any Valuation Date will equal the amount by which:
() the Credit Support Amount
exceeds
(ii) the Value ... that Valuation Date of all Posted Credit Support held by the Secured Party.
(b) Return Amount Subject to Paragraphs 4 and 5, upon a demand made by the Pledger
https://www.justice.gov/epstein/files/DataSet%209/EFTA00169583.pdf
EFTA02689933Set 11
67p31,238w
Laundering and Terrorist Financing Requirements 2-726
12. Calculation of the NAV 27
13. Valuation of Investments 31
14. Temporary Suspension of Calculation of the NAV and/or of Subscription, Redemption ... Capital Contributions 55
8. Drawdown from Investors 57
9. Re-Investment Cash 59
10. Valuation Date 59
II. Distributions and Allocation of Liquidation Proceeds — Carried Interest — Re-Investment ... except in, all cases, any company in which the Company holds an Investment.
Annual Valuation has the meaning set out in Section 13.3 of the General Section;
Articles means
https://www.justice.gov/epstein/files/DataSet%2011/EFTA02689933.pdf
EFTA01140688Set 9
2012-03-2217p7,839w
Pricing Date: April 5. 2013
Original Issue Date: April 12. 2013
Final Valuation Date: April 14. 2014. subject to adjustment as described herein.
Maturity Date: April 21. 2014. The Maturity ... Currency depreciates against the U.S.
Dollar by no more than 15% on the Final Valuation Date, you will receive $1.000, the
Principal Amount (a zero return).
If the Reference Currency ... Reference Currency depreciates against the U.S. Dollar by more than 15% on the Final
Valuation Date, you will lose 1% of the Principal Amount for each percentage point that
https://www.justice.gov/epstein/files/DataSet%209/EFTA01140688.pdf
EFTA01070909Set 9
17p5,094w
shall be as provided in Section 2(j) hereof.]
(c) As of any relevant Valuation Date (as hereinafter defined), the
"Notional Portfolio Investment Return" shall be a percentage equal ... percentage of the Total Return on the Notional Portfolio Investment on the relevant
Valuation Date, minus the percentage of the Average Return of Cascade's entire
investment portfolio on that ... same Valuation Date.
(d) [The Total Return on the Notional Portfolio Investment
shall be calculated as follows:][QUESTIONS: IN DETERMINING TOTAL RETURN
OF NOTIONAL PORTFOLIO INVESTMENT, YOU ARE COMPARING ASSET
https://www.justice.gov/epstein/files/DataSet%209/EFTA01070909.pdf
EFTA01127300Set 9
2006-12-2110p3,808w
Judah Management Interests.
In connection with the creation of the 2006 GRATs, Empire Valuation Consultants,
LLC ("Empire") was engaged to value each of the Judah Management Interests. The interest
transferred ... Black to Judah Investment Trust K was valued by Ernst & Young
Relying on the valuations provided by Empire and E&Y, Weil, Gotshal & Manges
LLP ("Weil") provided a summary ... Judah Trust A Interest was determined to be zero in the April 2007 Empire Valuations and
the June 2007 Empire Valuations (each, as defined below). No annuity payments were ever
https://www.justice.gov/epstein/files/DataSet%209/EFTA01127300.pdf
EFTA00810474Set 9
35p3,768w
company following last Gross Multiple: 11.4x
year's partial sale. Current Company Valuation: $1.7B
Other Key Investors: IA Ventures, Andreessen Horowitz, IVP
VALAR / 3
EFTA00810477
Valar Fund ... accesoning setwine that s onion. smut end ouanpully inatical
$3M check at a $100M valuation. play vide.) C .)
✓ Today, Xero is a $4B company, publicly traded on
the Australian Stock ... Gross Multiple: 4.0x
year will impact our thinking about the timing for Company Valuation: $3.9B today / $2.0B at time of Valar's major exit
exiting our other
https://www.justice.gov/epstein/files/DataSet%209/EFTA00810474.pdf
EFTA01477644Set 10
2015-10-3010p2,267w
Party A
Party B
JPY
04 August 2016, subject to adjustment If the Scheduled Valuation Date Is
adjusted In accordance with the Foibwing Bisiness Day convention or ff
Valuation Postponement ... faith,selects or determines.
Setae men t Cu rrency SetBementRateOpaon:
02 August 2016. ("Scheduled Valuation Date"), subject to adjustment in
accordance with the Preced'mg Business Day ConvenBon; provided
however ... Reference Currency Spcl
Rate:
2.
Disruption Everrts:
Price Source Oteruptbn:
Appiicable.
Disruption Fallbacks:
(I) Valuation Postponement
(II) Fallback Reference Price
SFEMC KRW Indicative Survey (KRW04)
The partes acknowledge that
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01477644.pdf
Deutsche Bank Group Valuation Statement
Request 182298
05 Oct 2015
SOUTHERN FINANCIAL, LLC
As of 02 Oct 15
Deutsche Bank AG
For Sales Inquiries Contact:
Daniel Sabba (Tel) (Email ... questions contact:
Valuations NY (Tel) (Email)
SOUTHERN FINANCIAL, LLC
To:
Jabwcpa Gmail (Email) ,Richard Kahn12 (Email)
Hnw Clientservices (Email)
Gedeon Pinedo (Email) ,Vahe
tepanian (Emai
,Mark Whyman (Email) Amanda Kirby ... specified in the
relevant trade Confirmation.
Deutsche Bank Group ("DB") is providing the valuations set forth above as an
accommodation to you solely for your own internal use. Unless expressly
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01474874.pdf
Deutsche Bank Group Valuation Statement
Request 182298
09 Sep 2015
SOUTHERN FINANCIAL, LLC
As of 08 Sep 15
Deutsche Bank AG
For Sales Inquiries •
Daniel Sabba (Tel) (Email)
For questions ... relatin to this statement contact:
Valuations NY (Tel)
SOUTHERN FINANCIAL,
To:
Jabwcpa Gmail (Email) ,Richard Kahn12 (Email)
,Hnw Clientservices (Email)
Gedeon Pinedo (Email ,Vahe
Stepanian (Email)
,Mark Whyman (Email) Amanda ... specified in the
relevant trade Confirmation.
Deutsche Bank Group ("DB") is providing the valuations set forth above as an
accommodation to you solely for your own internal use. Unless expressly
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01474543.pdf
Deutsche Bank Group Valuation Statement
Request 182298
09 Nov 2015
SOUTHERN FINANCIAL, LLC
As of 06 Nov 15
Deutsche Bank AG
For Sales Inquiries Contact:
Daniel Sabba (Tel) (Email ... questions relatin to this statement contact:
Valuations NY (Tel) (Email)
SOUTHERN FINANCIAL, LLC
To:
Jabwcpa Gmail (Email) ,Richard Kahn12 (Email)
,Hnw Clientservices (Email)
,Gedeon Pinedo (Email) ,Vahe
Stepanian (Email)
,Mark ... specified in the
relevant trade Confirmation.
Deutsche Bank Group ("DB") is providing the valuations set forth above as an
accommodation to you solely for your own internal use. Unless expressly
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01475583.pdf
Deutsche Bank Group Valuation Statement
Request 182298
02 Jun 2015
SOUTHERN FINANCIAL, LLC
As of 01 Jun 15
Deutsche Bank AG
For Sales Inquiries Contact:
Daniel Sabba (Tel) (Email ... questions relatin to this statement contact:
Valuations NY (Tel) (Email)
SOUTHERN FINANCIAL, LLC
To:
Jabwcpa Gmail (Email) ,Richard Kahn12 (Email)
,Hnw Clientservices (Email)
Gedeon Pinedo (Email) Vahe
Stepanian (Email)
,Mark ... specified in the
relevant trade Confirmation.
Deutsche Bank Group ("DB") is providing the valuations set forth above as an
accommodation to you solely for your own internal use. Unless expressly
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01473263.pdf
Deutsche Bank Group Valuation Statement
Request 182298
03 Sep 2015
SOUTHERN FINANCIAL, LLC
As of 02 Sep 15
Deutsche Bank AG
For Sales Inquiries Contact:
Daniel Sabba (Tel) Email ... questions relatin to this statement contact:
Valuations NY (Tel)
SOUTHERN FINANCIAL, LLC
To:
Jabwcpa Gmail (Email) ,Richard Kahn12 (Email)
,Hnw Clientservices (Emai
Gedeon Pinedo (Email) ,Vahe
Stepanian (Email)
,Mark Whyman ... specified in the
relevant trade Confirmation.
Deutsche Bank Group ("DB") is providing the valuations set forth above as an
accommodation to you solely for your own internal use. Unless expressly
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01474483.pdf
Deutsche Bank Group Valuation Statement
Request 182298
22 Apr 2014
SOUTHERN FINANCIAL, LLC
As of 21 Apr 14
Deutsche Bank AG
For Sales Inquiries Contact:
Tazia Smith ... Email)
For questions relating to this statement contact:
Valuations NY (Tel) 1-212-250-2600 (Email) valuations.ny@db.com
SOUTHERN FINANCIAL, LLC
To:
Jabwcpa Gmail (Email) ,Harrybeller Gmail (Email)
,Richard Kahn12 (Email ... specified in the
relevant trade Confirmation.
Deutsche Bank Group ("DB") is providing the valuations set forth above as an
accommodation to you solely for your own internal use. Unless expressly
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01468476.pdf
Deutsche Bank Group Valuation Statement
Request 182298
15 Apr 2014
SOUTHERN FINANCIAL, LLC
As of 15 Apr 14
Deutsche Bank AG
For Sales Inquiries Contact:
Tazia Smith (Tel) Email ... questions relating to this statement contact:
Valuations NY (Tel) 1-212-250-2600 (Email) valuations.ny@db.com
SOUTHERN FINANCIAL, LLC
To:
Jabwcpa Gmail (Email) ,Harrybeller Gmail (Email)
,Richard Kahn12 (Email) ,Gedeon
Pinedo ... specified in the
relevant trade Confirmation.
Deutsche Bank Group ("DB") is providing the valuations set forth above as an
accommodation to you solely for your own internal use. Unless expressly
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01468367.pdf