SINCE 1987, CARL MARKS MANAGEMENT COMPANY (CMMC) HAS MANAGED INVESTMENT FUNDS FOCUSED ON ACQUIRING DISTRESSED SECURITIES. CMMC TAKES AN ACTIVE APPROACH TO ITS INVESTMENTS.  ITS PROFESSIONALS WORK WITH MANAGEMENT AND OTHER INTERESTED PARTIES TO FINANCIALLY RESTRUCTURE BUSINESSES BOTH IN AND OUT OF BANKRUPTCY. OFTEN THESE RESTRUCTURINGS WILL RESULT IN AN EQUITY OWNERSHIP IN THE RESTRUCTURED BUSINESS. THE INVESTMENT HORIZON IS LONG-TERM WITH POSITIONS TYPICALLY HELD FOR SEVERAL YEARS. CMMC’S FUNDS ARE LONG ONLY AND DO NOT EMPLOY LEVERAGE. THE FUNDS INCLUDE A SIGNIFICANT PERSONAL INVESTMENT FROM ITS PRINCIPALS.

CMMC is the investment manager of Carl Marks Strategic Investments, L.P.; Carl Marks Strategic Opportunities Fund, L.P.; and other investment funds with combined assets and commitments of approximately $865 million.