EFTA00855314.txt

"From: Jeffrey E. To: Brad Wechsler Subject: Re: Re AP Investco Date: Thu, 04 Jun 2015"

"I assume leon owns 100% of elysium?"

"Brad would no longer be a Managing Director of Elysium but would become an officer (CEO)"

"Investco should be a wholly owned subsidiary of the family office"

"Paul, Weiss has advised that Brad may be deemed to be an investment advisor, requiring registration, if he manages Leon's funds"

"potential LDB Apollo compliance issues... to have him comply with Apollo's trading rules."

"Alan will go ahead and draft a very simple LLC agreement"

"Critical point is that this comports with Jeffrey's desires/goals for tax reporting."