EMAIL DETAILS

Keri-

Was just about to email you. The appropriate person is out on the West
Coast so I am just waiting to contact him later this AM and will put you
two together after that.

Be back in touch shortly.

Best,

Eric

Eric D. Schwerin
eschwerin@rosemontseneca.com

Sent from my iPhone

On Mar 11, 2015, at 9:47 AM, Keri Findley <KAnisgarten@thirdpoint.com>
wrote:

Hey Eric,


Just following up to see when you are free to connect with Mayor Pratt’s
firm this morning?


Thank you.

Keri


*From:* Eric Schwerin [mailto:eschwerin@rosemontseneca.com
<eschwerin@rosemontseneca.com>]
*Sent:* Tuesday, March 10, 2015 3:29 PM
*To:* Josh Targoff
*Cc:* Hunter Biden; Keri Findley
*Subject:* Re: Freddie Mac


Great. I’ll connect Keri with the right person at Mayor Pratt’s firm.
Thanks.


Eric D. Schwerin

Rosemont Seneca Partners, LLC

1010 Wisconsin Ave., NW

Suite 705

Washington, DC 20007

(202) 333-1880

eschwerin@rosemontseneca.com <x-msg://59/eschwerin@obblaw.com>

*P* *Consider the environment before printing this email.*


On Mar 10, 2015, at 2:54 PM, Josh Targoff <JTargoff@thirdpoint.com> wrote:


Eric - we will play and move very fast. Keri Findley is our Portfolio
Manager. Let her know what to do.


-----Original Message-----
*From: *Eric Schwerin [eschwerin@rosemontseneca.com]
*Sent: *Tuesday, March 10, 2015 01:52 PM Eastern Standard Time
*To: *Josh Targoff
*Cc: *Hunter Biden
*Subject: *Freddie Mac

Josh-


Hope you are well. We’ve been approached by former Washington DC mayor,
Sharon Pratt, whose minority owned firm is on the short list to bid on the
sale of $250m of Freddie Mac bonds. Apparently, Freddie Mac desperately
needs to find minority owned firms as potential buyers because of
Dodd-Frank.


They are looking for an equity partner to go in on it with them and are
looking for about $20m. See brief description below. Is this anything
you’d be interested in or know someone who would? Of course, like all of
these things the timeline is short and they are looking for a partner to
come in in the next couple of weeks. Let us know. Happy to connect you
to the appropriate people if you want more info.

_____________

It’s a $250MM pool which we will purchase at around 70% so around $170MM.
Nomura is the line of credit, for immediate or near term securitization of
Class A and M bonds. Nomura lends on 75-25 model (debt to equity) on the
purchase price so equity requirement is upwards of $40MM. Our partner and
co-manager on the deal will be bringing 50% of the equity so $20MM. We are
looking for our $20MM. We have about $4MM thus far. We should have access
to the pool today or tomorrow at which point we can drill down on price of
the pool and create a cash flow projection for any equity investors. We
may pull in Jefferies for a mezzanine line if push comes to shove (they
have offered this in the past) but would love to fill in the $40MM gap with
true equity.

_______________


Best,


Eric


Eric D. Schwerin

Rosemont Seneca Partners, LLC

1010 Wisconsin Ave., NW

Suite 705

Washington, DC 20007

(202) 333-1880

eschwerin@rosemontseneca.com <x-msg://59/eschwerin@obblaw.com>

*P* *Consider the environment before printing this email.*


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"This communication may contain privileged or confidential information. If
you are not the intended recipient(s), you are hereby notified that you
have received this message in error and that any review, dissemination,
distribution or copying of this message is strictly prohibited. Any views
or opinions presented are solely those of the author and do not necessarily
represent those of Third Point LLC or its affiliates. If you have received
this communication in error, please notify us immediately by email, and
delete the original and any copies of the message. We do not waive
confidentiality if you have received this communication in error. In the
UK, this communication is directed to those persons who are market
counterparties or intermediate customers (as defined in the rules of the
Financial Conduct Authority).

This is not an offer, or solicitation of any offer, to buy or sell any
security, investment or other product.