We currently intend to concentrate our efforts in identifying high quality businesses that have recently undergone a restructuring. Our management team and Marblegate, an affiliate of our sponsor, have extensive experience investing in post-restructured companies. We believe that this experience makes us very well situated to identify, source, negotiate and execute a business combination at a favorable valuation with an attractive post-restructuring company.

Marblegate is an alternative investment firm founded in 2008 to capitalize on corporate restructuring opportunities. As of Aug. 1, 2021, Marblegate managed approximately $2.3 billion across multiple funds, primarily for institutional clients such as pension funds, endowments, foundations, family offices, funds of funds and high net worth individuals. As of June 30, 2021, Marblegate has invested approximately $3.9 billion across multiple industries since the launch of its first fund in 2009. As of Dec. 31, 2020, Marblegate’s Special Opportunities Master Fund, its first and only active open-ended, hedge fund style investment fund, has a cumulative net return of 247.4% since inception, with an annualized net return of 11.0%.

Andrew Milgram is our CEO and an executive director. Since August 2008, he has served as the managing partner of Marblegate, which he co-founded. Prior to forming Marblegate, Mr. Milgram was a principal at Epic Asset Management, where he was responsible for generating, evaluating, executing and managing investments in a portfolio of distressed and special situation assets across a variety of industry sectors.

Paul Arrouet is our president and an executive director. Since 2008, he has also served as a managing partner of Marblegate, which he co-founded. Before forming Marblegate, Mr. Arrouet spent six years as senior managing director as well as 12 years as distressed specialist in the Distressed/High Yield Trading & Sales Department at Bear Stearns & Co. At Bear Stearns, he managed the trading book focused on stressed/distressed capital structures as well as actively making markets to generate customer flow.