AIG Asset Management US (AMG) manages client portfolios the majority of which are invested in public fixed income securities. Client portfolios may also include alternative investments consisting of higher or lower risk holdings, which may have different acquisition parameters and different investment horizons, including, among other things, private placement assets, loans and equity funds.AMG manages public fixed income securities to provide its institutional clients (almost exclusively affiliated insurance companies) a fixed, periodic coupon payment, interest payment or dividend. The income from these securities spans the life of the bond until maturity, at which time the principal is returned to the investor. Categories of these securities include: high grade corporate debt, high yield debt, sovereign/agency debt, municipal securities, emerging market securities, CLOs, CDOs, RNBS and CMBS.AMG's Private Placement Group (PPG) is part of the group of Specialty Asset Classes within AIG and is made up of several underlying groups; Corporate Private Placements, Leveraged Capital, Global Project Finance, Structured Privates, and Direct Originations. The PPG acquires investments in unregistered securities, predominantly Regulation D offerings, through these groups on behalf of AIG insurance company clients. Investment opportunities are typically sourced through existing relationships with outside institutions.The Commercial Loan (CML) group originates and services commercial mortgage loans within the US (fixed rate, first lien secured whole loans on commercial real estate properties; select mezzanine and floating rate investments/variable interest rate) on behalf of AIG Insurance affiliates.The firm has an agreement with an affiliated mortgage advisory company to source and provide the firm with individual residential mortgage loans for direct investment opportunities. Such loans are underwritten by unaffiliated mortgage originators and generally insured by the United Guaranty Company, an affiliate of AIG.AMG uses a manager-of-managers approach to gain exposure to various asset classes including private equity funds, real estate funds and hedge funds.

Third Avenue Management is a value manager that employs a disciplined fundamental, bottom-up approach to identify investments with the objective of delivering superior absolute returns with limited investment risk over the long-term. The firm's investment approach focuses on the strength of a company's balance sheet and the discounted price of its securities. Their research approach is opportunistic and is not constrained by market-cap, industry, sector, or geographic location. The firm's value-oriented investment strategies are available through mutual funds, separate accounts and alternative investments. Third Avenue often engages in shareholder activism.Third Avenue's investment strategy is to invest in safe companies that are priced substantially below a conservative estimate of the business value as a private entity or takeover candidate. The firm looks for companies with high-quality assets with conservative and appropriate leverage. Companies should have an understandable business model with meaningful financial information readily available. Third Avenue also looks for companies with the potential for attractive growth in the value of their net assets over the next 5 years.

NYL Investors is comprised of three investment divisions: Fixed Income Investors; Real Estate Investors; and Private Capital Investors.NYL Investors' Fixed Income Investors division (FII) has expertise in most major US dollar fixed income sectors including investment grade corporate bonds, MBS, ABS, high yield bonds. government securities and floating rate loans. FII manages investment and non-investment grade securities issued as traditional private placements or under Rule 144A across a range of sectors. They also serve as collateral manager for a series of CLOs and as a sub-advisor to certain CLOs for which their affiliate, New York Life Investment Management (NYLIM), serves as collateral manager. Using top-down fundamental coupled with bottom-up credit research, FII seeks to construct diversified portfolios designed to deliver consistent performance and stability.NYL Investors' Real Estate Investors division (REI) offers real estate debt and equity advisory services to New York Life and its affiliates, and to third-party investors through pooled real estate investment funds. Products include commercial mortgage loans, mezzanine, bridge, construction financing and structured debt investments, CMBS and unsecured REIT bonds. REI also provides real estate acquisition, disposition and asset management services for New York Life, its affiliates and certain pooled investment funds. In addition, REI identifies and underwrites investments in third party-sponsored real estate equity and debt funds and low income housing tax credit (LIHTC) funds.New York Life Investors' Private Capital Investors division (PCI) offers financing solutions to public and private companies with a specialized expertise in the infrastructure, power & utility sectors. Bottom-up fundamental research provides the basis for investment selection combined with a long-term orientation that supports the client throughout multiple economic cycles.