Subject: RE: Estrella Follow Up
From: "Gary Edson" <[email-masked]>
To: "Hunter Biden" <[email-masked]>
Cc: "Eric Schwerin" <[email-masked]>, "Charles Ries" <[email-masked]>, "Amanda Cosby" <[email-masked]>, "Paul Altidor" <[email-masked]>
Date: Wed, 8 Dec 2010 13:57:44 -0800

Hunter:

We are already joined at the hip with the IDB. I’ve known Luis Moreno, the President, for over a decade or more, and we meet regularly with all portions of the bank (the Multilateral Investment Fund or MIF, whose mission most closely parallels that of CBHF; the IIC, the Bank itself, etc.).  I also know Julie Katzman, the former head of the MIF and now de facto EVP of the IDB.  They are a great group – and have a great team on the ground, headed by Eduardo Almaeida, a former McKinsey consultant.  We have already done a number of projects where we and the IDB are co-investors, and we are looking at others.

As for Estrella, we’d love to do something together. It appears as if the hotel project we have been involved with is now fully funded. However, if there is an opening for another investor, I will definitely let you know.

I don’t know what the board’s appetite is for doing another hotel project, but the economic multiplier impact of such projects can be large, so it is worth exploring – especially, learning more about what Manuel is looking at.

Beyond that, I think the next step would be to have another face-to-face meeting – here, in Haiti or in the DR – and review some of the new potential projects we are exploring, ranging from some clean energy projects, to an equity investment in an insurance company (another force multiplier for an economy, especially one vulnerable to shocks), to an equity investment in a new development bank.

Charlie Ries, our EVP, is scheduled to be in Haiti next week for the CGI HAITI Action Network meeting, so that might present an occasion for a conversation. That said, the current election turmoil has left much planning up in the air.

From: Hunter Biden [mailto:[email-masked]]
Sent: Wednesday, December 08, 2010 3:40 PM
To: Gary Edson
Cc: Eric Schwerin
Subject: Estrella Follow Up

Gary-

I hope all is well.  Wanted to circle back on the follow up with Manuel Estrella.   Manuel had been traveling a little, but he is very interested in continuing the conversations with you and your team and likes the ideas you proposed in your letter.   One thing that he was additionally very interested in and wanted to add to the list was the idea of developing a hotel together with you.   Either participating in one that where you are already in the planning of development stages or one of the potential sites Manuel has been looking at on his end.

I'd be interested to know your thoughts on adding the hotel to the list, but the feedback I have gotten from Manuel has all been positive about trying to find ways to work on some of the other initiatives as well.

What would you propose as the next steps with Manuel?  I am sure he'd be available to talk or meet at any time.

In addition, last week I met with some folks at the IDB who are working on Haiti projects.  I found them to be very innovative in their thinking and they mentioned that they would like to work more closely with you and the CBHF.   I would be glad to put you in touch with them if you would like.

Hope all is well.

Best,

Hunter

--
R. Hunter Biden
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880