HICKS MUSE & CO.

Investment Date: March 1990

Hicks Muse & Co., now HM Capital, was formed to build on the successful private equity investment experience of Thomas O. Hicks.

Mr. Schnitzer and Mr. Hicks had been friends since University and were colleagues at Morgan Guaranty. Mr. Hicks approached Mr. Schnitzer regarding the possibility of Wand allocating capital to Hicks Muse Equity Fund I. Wand was the only “outside” investor in the management company and general partner of Hicks Muse Equity Fund I.

Wand provided the equity capital to bridge the initial transaction (Life Partners Group) for Hicks Muse I and Wand provided specialty finance services expertise to Hicks Muse on other transactions.

Wand’s ownership terminated naturally in the context of the final distributions associated with Hicks Muse Equity Fund I.