EFTA01440262Set 10
2018-03-3061p17,665w
fund managers at significantly lower investment minimums
than would be
required for a direct
leveraging our sourcing advantages and employing an ongoing "bottom-up"
diligence approach.
The Direct Investment Funds ... strategy
and marketing positioning, competitive landscape, discussion of poor
investments and lessons
learned. iCapital
leverages these meetings, the review of
the list
the managers' due diligence
questionnaire, and responses ... aims to identify
managers to evaluate
more closely. iCapital builds a peer group universe,
leveraging iCapital's entire sourcing
capability, to identify managers with strong performance track records,
including looking
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01440262.pdf
EFTA01397607Set 10
2018-03-3061p17,672w
fund managers at significantly lower investment minimums
than would be
required for a direct
leveraging our sourcing advantages and employing an ongoing "bottom-up"
diligence approach.
The Direct Investment Funds ... strategy
and marketing positioning, competitive landscape, discussion of poor
investments and lessons
learned. iCapital
leverages these meetings, the review of
the list
the managers' due diligence
questionnaire, and responses ... aims to identify
managers to evaluate
more closely. iCapital builds a peer group universe,
leveraging iCapital's entire sourcing
capability, to identify managers with strong performance track records,
including looking
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01397607.pdf
EFTA00310618Set 9
1999-01-0458p26,346w
part of its
investment program, the Partnership may from time to time use leverage. While the Partnership
is not limited in the amount of leverage it may utilize, the General ... Partner currently does not
intend to employ total leverage which exceeds 50% of the net assets of the Partnership.
Long-Term Value Investments. While the Partnership may purchase securities
which ... RTERLY AND ANNUAL BASIS.
IN FACT, THE PRACTICES OF SHORT SELLING,
LEVERAGE AND LIMITED
DIVERSIFICATION CAN, IN CERTAIN CIRCUMS
TANCES, SUBSTANTIALLY
INCREASE THE ADVERSE IMPACT TO WHI
CH THE PARTNERSHIP
https://www.justice.gov/epstein/files/DataSet%209/EFTA00310618.pdf
EFTA01446117Set 10
138p25,658w
There will be restrictions on transferring
interests in the Access Fund, investments may be leveraged and the investment
performance may be volatile. Before deciding to invest in the Access Fund ... indefinite
period
of time. They may be highly illiquid and can engage in leverage and other
speculative practices that may increase the volatility and risk of loss.
Alternative Investments typically ... limited to:
• Loss of all or a substantial portion ofthe investment due to leveraging,
short-selling, or other speculative practices;
• Lack of liquidity in that there may be no secondary
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01446117.pdf
EFTA01113787Set 9
2014-12-3143p10,299w
risks inherent with investing in hedge funds, which include, but are not limited to, leveraged and speculative
investments, limited liquidity, higher fees and expenses and complex tax structures.
This presentation ... funds and accounts engaging in multiple strategies has been calculated by adjusting to exclude leverage based on the following assumptions: Convertible/Derivative Arbitrage generally assumes a leverage
ratio ... Portfolio Finance, which is a sub-strategy of Convertible/Derivative Arbitrage, assumes a leverage ratio of 10:1. which approximates the historic leverage in these strategies. Synthetic Structured Credit, which
https://www.justice.gov/epstein/files/DataSet%209/EFTA01113787.pdf
uninvested, the
ability of the Fund to meet its investment objective may be limited.
Leverage. A Fund may utilize leverage in pursuing its investment strategy. Leveraging a Fund
creates ... income or capital appreciation but, at the same time.
creates special risk considerations. Leveraging will generally exaggerate the effect on the value
of a Fund's assets of any increase ... market value of the Fund's investments.
Although the principal of borrowings underlying any leverage will be fixed, a Fund's assets may
change in value during the time
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01389173.pdf
uninvested, the
ability of the Fund to meet its investment objective may be limited.
Leverage. A Fund may utilize leverage in pursuing its investment strategy. Leveraging a Fund
creates ... income or capital appreciation but, at the same time.
creates special risk considerations. Leveraging will generally exaggerate the effect on the value
of a Fund's assets of any increase ... market value of the Fund's investments.
Although the principal of borrowings underlying any leverage will be fixed, a Fund's assets may
change in value during the time
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01392271.pdf
uninvested, the
ability of the Fund to meet its investment objective may be limited.
Leverage. A Fund may utilize leverage in pursuing its investment strategy. Leveraging a Fund
creates ... income or capital appreciation but, at the same time.
creates special risk considerations. Leveraging will generally exaggerate the effect on the value
of a Fund's assets of any increase ... market value of the Fund's investments.
Although the principal of borrowings underlying any leverage will be fixed, a Fund's assets may
change in value during the time
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01364592.pdf
Collateral Obligations.
In addition to default frequency. recovery• rate and market price volatility. Leveraged Loans may experience
volatility in the spread that is paid on such Leveraged Loans. Such spreads ... factors,
including, but not limited to. the level of supply and demand in the Leveraged Loan market, general economic
conditions, levels of relative liquidity for Leveraged Loans, the actual ... perceived level of credit risk in the
Leveraged Loan market, regulatory changes, changes in credit ratings and the methodology used by credit rating
agencies in assigning credit ratings, and such
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01376295.pdf
EFTA00796858Set 9
16p5,853w
role in the day-to-day management of the Underlying Seed Funds.
Use of Leverage by the Fund — The Fund may borrow money or use leverage for a variety ... acquiring new investments (including prior to the Fund's Initial Closing or
Final Closing), leveraging existing investments to permit distributions or additional investments, facilitating the Fund's hedging activities, meeting ... Underlying Seed Funds, and
bridging fundings for investments in advance of capital calls. The leverage used by the Fund may take the form of indebtedness for borrowed money. which
https://www.justice.gov/epstein/files/DataSet%209/EFTA00796858.pdf
EFTA00314334Set 9
93p50,036w
notwithstanding their
otherwise tax-exempt nature, depending upon the use of margin
or other leverage by the Partnership or by such investors. As a
general principle, an investment ... combined with a typically
high fee structure require that traditional hedge funds use excessive leverage in order to meet investors'
return expectations. As a result, the Manager has concluded that ... excessive margin to increase its purchasing power. However, the Partnership
may use non-recourse leverage on specific investments and it may use margin as required to collateralize
short sales.
Special
https://www.justice.gov/epstein/files/DataSet%209/EFTA00314334.pdf
EFTA00730183Set 9
2009-03-3123p3,800w
Boehly joined Guggenheim in 2001 in order to manage and build the firm's leveraged credit investing activities. Since joininly, Guggenheim, Mr. Boehly has grown
the leveraged credit assets under ... where he had experience in both private equity and private mezzanine
as well as leveraged credit investing. Mr. Boehly's primary focus was developing the firm's leveraged loan investing ... restructuring and
takeover activities. Prior to Whitney, Mr. Boehly worked in the Leveraged Finance Group at Credit Suisse First Boston. Mr. Boehly received his BBA from the
College of William
https://www.justice.gov/epstein/files/DataSet%209/EFTA00730183.pdf
EFTA00748357Set 9
2010-06-156p2,943w
levels,
they are worth reviewing given the pressure that the recession put on highly leveraged companies.
Last August, we published a note on our diversified 2006-2007 private equity exposure ... debt markets collapsed, concerns about private equity intensified. If
the debt of a highly leveraged LBO company was trading well below par, how could the equity be worth anything ... felt
strongly about two things. First, debt markets were suffering from selling by leveraged credit hedge funds and un-
leveraged buyers experiencing ratings downgrade shock. Second, we believed that
https://www.justice.gov/epstein/files/DataSet%209/EFTA00748357.pdf
EFTA00729342Set 9
2008-12-103p524w
transfer FTC's entire investment in the High-Grade Fund
into the Enhanced Leverage Fund. Once again, Mr.
Spector specifically told Mr. Epstein that Mr. Spector
would be investing ... money in the Enhanced
Leverage Fund.
5. In March 2007, when the Enhanced Leverage Fund was
down 10%, Mr. Epstein called Mr. Spector and told Mr.
Spector that Mr. Epstein ... wanted out of the Enhanced
Leverage Fund. Mr. Spector persuaded Mr. Epstein not to
redeem FTC's invesment, specifically telling Mr. Epstein
that the so-called loss in the Enhanced
https://www.justice.gov/epstein/files/DataSet%209/EFTA00729342.pdf
EFTA00611303Set 9
27p6,244w
Grade
Structured Credit Strategies (Overseas), Ltd., Bear Steams High Grade Structured Credit
Strategies Enhanced Leverage Fund, L.P., Bear Stearns High Grade Structured Credit Strategies
Enhanced Leverage (Overseas), Ltd., Bear Stearns ... Credit Strategies
Master Fund, Ltd. and Bear Stearns High Grade Structured Credit Strategies Enhanced Leverage
Master Fund, Ltd. (together, the "HG Funds"), (b) one or more of Bear Steams Asset ... Grade Structured Credit Strategies (Overseas), Ltd., Bear
Steams High Grade Structured Credit Strategies Enhanced Leverage Fund, L.P., Bear Steams
High Grade Structured Credit Strategies Enhanced Leverage (Overseas), Ltd., Bear Steams
https://www.justice.gov/epstein/files/DataSet%209/EFTA00611303.pdf
EFTA00295515Set 9
2018-03-1627p14,283w
combined with a typically high fee structure require that traditional
hedge funds use excessive leverage in order to meet investors' return expectations. As a result, the
Manager has concluded that ... excessive margin to increase its purchasing power. However, the Partnership may use non-
recourse leverage on specific investments and it may use margin as required to collateralize short sales ... addition, the Broker has
minimum equity and maintenance requirements determined by share price.
Leverage. The Partnership may use some leverage in its investment program when deemed appropriate by
the Manager
https://www.justice.gov/epstein/files/DataSet%209/EFTA00295515.pdf