Subject: CIC
From: "Arlene Busch" <[email-masked]>
To: "Hunter Biden" <[email-masked]>
Date: Wed, 23 Jun 2010 15:45:53 -0400

Hunter,

Since I won’t be able to attend the meeting in Chicago, I have put together
the email below. I have sent it to Jim Bulger (after my conversation with
him earlier today) and would be happy to discuss with Jonathan if he is
going to Chicago on the 29th.

I am interested in getting an idea of CIC’s due diligence process and their
criteria for investment. Based on the amount of time they spend on each
question and the types of questions asked, we can glean their focus. Below
are my thoughts of some of the areas CIC will probably focus on;

CIC’s criteria for investment;

Team

Infra-structure (accounting, PL reporting, client communication, etc.)

Ownership structure (Lazard)

AUM

Length of track record

Performance of most recent fund

Edgewater’s investment criteria for choosing portfolio companies

Investor base

Leverage

Edge

Deal flow

Co-Investment rights

Other

Specific questions on Edgewater’s Portfolio Companies;

Number of companies

Typical size of investment

Exit strategy

% of ownership

Geographical focus

Sector focus

Change of senior management

Other

Arlene Busch

202-333-1880

[email-masked]