From: Richard Joslin Sent: Friday, December 19, 2014 1:02 PM To: jeffrey E. Subject: passive income generator In speaking with Apollo tax group, there is an Apoll= Nat Resource fund that will likely generate (tax) passive income in initi=l years. This might be a good investment LDB to generate more passiv= income so as to allow current tax deductions for Artspace/ Regan Arts/ US portion of Phaidon https://www.altassets.net/private-equity-news/by-news-type/fund=news/apollo-eyes-up-to-3bn-for-new-natural- resources-fund.html <https://www.altassets.net/private-equity-=ews/by-news-type/fund-news/apollo-eyes-up-to-3bn- for-new-natural-resources=fund.html> Richard Joslin CFO Elysium Management LLC 445 Park Ave Ste. 1401 New York, NY 10022 (w (c) (f) 1 EFTA_R1_01317271 EFTA02346340