EFTA02447341

From: Paul Barrett < Sent: Tuesday, May 8, 2018 6:35 PM To: jeffrey E. Subject: RE: FW: 2 things I think the credit fund is really worth considering. I am convinced there will be some amazing short opportunities in credit over the coming 1-2 years. Paul Barrett Alpha Group Capital LLC 142 W 57th Street, 11th Floor, New York, NY 10019 (o) (c) <mailto: From: jeffrey E. <[email protected]> Sent: Tuesday, Ma 08 2018 2:25 PM To: Paul Barrett Subject: Re: FW: 2 things No On Tue, May 8, 2018 at 1:57 PM Paul Barrett c <mailto . > wrote: Jeffrey EFTA_R1_01544315 EFTA02447341 Any thoughts on these? Paul Barrett Alpha Group Capital LLC 142 W 57 <https://maps.google.com/?q=142+W+57&entry=gmail&source=g> th Street, 11th Floor, New York, NY 10019 (o) (c) <mailto From: Paul Barrett Sent: Wednesday, May 02, 2018 11:04 PM To: Jeffrey E. <[email protected] <mailto:[email protected]» Cc: Richard Kahn < <mailto Subject: 2 things Hi Jeffrey > > 1. I would like to allocate $5MM to a Credit hedge fund that I know well. I believe we need to have a manager who can earn 6-8% net if current credit conditions persist but then is able to play the short side and hopefully deliver 10.15% if the credit cycle turns. I negotiated favorable terms of 1.5%/15%. Lock up lyr. The founder is a former John Paulson PM who ran their credit book for 10 years leading into the Financial Crisis. I would fund it with some preferreds that are about to be called. 2. A portfolio manager that I have known for many years is looking to start a macro hedge fund. How do you feel about seeding him in exchange for an ownership stake in the GP and Management Company? My guess is we would need a -$20MM-$25MM commitment. I have not discussed this with him but I do think Macro hedge funds are finally going to be able to make some money again as QE comes to an end. Paul Paul Barrett Alpha Group Capital LLC 2 EFTA_R1_01544316 EFTA02447342 142 W 57 <https://maps.google.com/?q=142+W+57&entry=gmail&source=g> th Street, 11th Floor, New York, NY 10019 0) (c) please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 3 EFTA_R1_01544317 EFTA02447343