EMAIL DETAILS

All – please see attached a revised draft reflecting most of the suggestions below. Happy to discuss. External advisors are being selected and as for the metrics of pipeline deals, those are unfortunately not publicly available at the moment.


Xin


发件人: Dan McClory [mailto:danmcclory@cox.net]
发送时间: Monday, June 15, 2015 9:34 AM
收件人: 王昕; xinzhong.li@bhrpe.com; Jonathan Lee
抄送: 'Devon Archer'; Ada Niu; 'Dan'
主题: BHR SOE: Reform Fund: US Packaging for Investor Pitches (Burnham Input)


All—here is some of the feedback from Burnham in NY as we prepare to pre-market the BHR SOE RF. Looking forward to discussing shortly at the BHR offices in Beijing,

Dan


> Begin forwarded message:
> From: "Zellmer, Stefan" <SZellmer@bsibam.com <javascript:;> <mailto:SZellmer@bsibam.com <javascript:;> >>
> Date: June 11, 2015 at 10:10:12 AM EDT
> To: "Godfrey, Andrew" <agodfrey@burnhamfinancial.com <javascript:;> <mailto:agodfrey@burnhamfinancial.com <javascript:;> >>
> Subject: RE: Reform
> Rich is out for the rest of the week, but I think I can summarize:
>
> * The presentation is a bit too long and needs to be cut down to the most important points
> * The sequence of the presentation should be changed to
> 1 Describe the company (BHR, incl. people)
> 2 Describe the opportunity set
> 3 Describe the process of selecting the investments (there is no mention of investment process/due diligence in the current pres). Also describe the focus if there is any (industry sectors, type of deal etc., I remember we talked about monopolistic versus competitive sectors)
> 4 List the pipeline and feature one or two deals, with relevant metrics
> 5 Describe the fund terms and structure, reporting to investors, incl. service providers for NAV, lawyers etc. Since these a China based deals and we are seeking US investors, what are the investors rights. What is the return profile/target?
> * Appendix: include the past deals here in much abbreviated form.

6. Some basic edits to make to this draft doc as well. For instance where dollar amounts are written the doc should use abbreviations for Billion or Trillion not six or nine zeros, and at least it should be consistent throughout. Small edits like that—we can mark up the document again once the Beijing team works out some of the above suggested changes
>
> _________________________________________________
> Stefan Zellmer | Burnham Alternative Investments
> Office: +1 212 333 9633| szellmer@bsibam.com <javascript:;> <mailto:szellmer@bsibam.com <javascript:;> >
>