Subject: Fwd: Follow Up
From: "Eric Schwerin" <[email-masked]>
To: "Joan Peugh" <[email-masked]>, "Hunter Biden" <[email-masked]>
Date: Tue, 7 Jul 2015 08:47:48 -0400

FYI.

Eric D. Schwerin
[email-masked]

Sent from my iPhone

Begin forwarded message:

*From:* "Stukas, Nick" <[email-masked]>
*Date:* July 7, 2015 at 8:38:12 AM EDT
*To:* Eric Schwerin <[email-masked]>
*Subject:* *RE: Follow Up*

Hi Eric,

Sorry for the delay in coming back to you.  I was traveling last week with
my family.

I should have given you an update earlier.  Grosvenor told us earlier this
year that they needed to start getting their capital back from our fund.
Given that Grosvenor was around 50% of the capital base, it was going to
put us in a difficult position to continue the management company as a
going concern.  I explored a number of alternatives whereby I could keep
the fund going by moving myself and the investment team over to another
fund management company.  We came quite close to getting one of those deals
done, but in the end it didn't work out.

As a result we decided that the best thing for all investors would be to
liquidate the fund and return all capital.  June 30th was the last NAV date
and the fund was entirely in cash at that point.  So, unfortunately, that
is going to be the end of the road for Nightscape.

I regret that we were not able to perform better on the investment side and
give you guys a chance to raise some capital for us.

Best regards,

Nick
________________________________________
From: Eric Schwerin [[email-masked]]
Sent: Monday, June 29, 2015 4:25 PM
To: Stukas, Nick
Subject: Follow Up

Nick-

I know it has been a few months since we last talked and I also know there
have been a number of changes on your end.  I just wanted to touch base and
make sure we closed the loop if that is necessary.  When we last spoke we
agreed to put things on hold and touch base when things became a little
more certain on your end.  I wasn’t sure what your plans are for Nightscape
going forward.   If there are things we can be helpful with I would be
happy to discuss that.

Conversely, I understand if you are going in a completely different
direction going forward and we want to formally end our engagement.

Let me know your thoughts.

Best,

Eric

Eric D. Schwerin
RSP Investments, LLC
1010 Wisconsin Ave., NW Suite 715
Washington, DC 20007
(202) 446-0493
[email-masked]<x-msg://59/[email-masked]>
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