Brookdale Senior Living, Inc.

Launched in 1994, Deerfield Management Company is an investment firm dedicated to advancing healthcare through information, investment and philanthropy—all toward the end goal of cures for disease, improved quality of life and reduced cost of care. As of late 2019, the firm manages nearly $10 billion in assets. Providing value beyond capital, Deerfield generally maintains a combined portfolio of more than 200 private and public investments across the life science, medical device, diagnostic, digital health and health service industries at all stages of evolution from start-up to mature company. Having many years of operational expertise, Deerfielders are highly engaged and adept at navigating the complex crosscurrents ever-present in the healthcare and financial industries. Collaboration, intellectual curiosity and pragmatism drive Deerfield’s approach. With its holistic view, Deerfield tailors flexible financing options designed to meet the needs of entrepreneurs and corporate partners.

Camber Capital Management seeks to generate capital appreciation without regard to current income by investing primarily in publicly-traded common stocks of healthcare companies across a variety of industries including healthcare services and facilities, pharmaceuticals, medical products and devices and biotechnology. Although most of their investments are within the healthcare industry, the firm may occasionally invest in other sectors if more attractive opportunities are identified. Camber Capital Management employs a fundamental, bottom-up research approach designed to identify high-quality companies whose inherent value is not adequately reflected in a company's market valuation.

Glenview's investment process employs deep, fundamental research and individual security selection primarily within equity and credit-oriented strategies. The firm employs a GARP investment approach that focuses on companies in stable industries, with recurring revenue streams or entrenched market positions. They may also focus on contrarian investments (cyclical or company specific). Glenview often combines GARP and contrarian investing when a steady growth business emerges within a company as the dominant economic force over a more challenged business unit. GCM invests in stored or hidden value situations, where excess balance sheet capacity may be used to accelerate returns or where contractual rights or startup operations show no present value but may be significant drivers of value tomorrow. In addition to long equity investments, GCM commits significant capital to short equity positions. They look for companies whose industries face cyclical, transitory or secular headwinds, whose competitive position is likely to erode over the near- to medium-term, and companies whose liquidity profile will potentially create equity value impairment or cause future issuance of additional equity at lower prices. GCM may also maintain short positions in equity index futures or other index products to reduce net market risk. The firm also engages in long and short credit positions with emphasis on business or asset stability over growth. They may seek to reduce the risk through other hedges that protect the overall portfolio of the funds, including interest rates, foreign currencies or sovereign, corporate or asset-backed credit spreads.

Fortress Investment Group's private equity activities focus on operating businesses across five major sectors including financial services, transportation, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The firm seeks to acquire undervalued assets and companies that can be improved through intensive asset management. Fortress places capital across the entire capital structure, actively deploying first and second lien senior secured debt, mezzanine financing and equity investments.Through the Fortress Investment Funds and through direct co-investments, Fortress acquires cash flowing investments and businesses that are often backed by tangible physical and financial assets. The Fortress Mortgage Opportunities Funds make investments in residential mortgage backed securities and related investments. The firm is also affiliated with two externally managed publicly traded companies, Newcastle Investment Corp. and Eurocastle Investment Ltd. Newcastle Investment Corp. invests primarily in real estate related loans and securities. Eurocastle Investment Ltd. invests primarily in operating real estate.