Subject: KZ
From: "Eric Schwerin" <[email-masked]>
To: "Hunter Biden" <[email-masked]>
Date: Wed, 19 Aug 2015 14:49:28 -0400

KZ invested $75m last month. Another $75m will be invested this month.  

It is the first deployment of capital into alternatives in the entire history of KZ’s reserve management.  

This investment was approved on 7/28/13, but on 1/8/14, Board revised their approach and decided to only invest in two FoF’s - Hamilton Lane was the second.

Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
[email-masked] <x-msg://59/[email-masked]>
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