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EFTA01386076

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and non-profit entities, including the Baltimore Museum of Art, Parks & People Foundation and The Charlesmead Foundation among others. Mr. Deering served as a Director at Mercantile-Safe Deposit and Trust Company from April 30, 2003 until November 17, 2017. He served as an Independent Trustee of Vornado Realty Trust from 2004 to December 31, 2012. He served as an Independent Director of Mercantile Bankshares Corp. from April 30, 2003 to November 17, 2017. He received BS degree from Drexel University and MBA degree from Wharton School, University of Pennsylvania. Mr. Deering passed away on November 17, 2017 with an estimated net worth of S85 million that was left to his wife Kathryn Deering. His daughter, Heather Deering Crosby is founder and employee of Matheys Lane Capital Management L.P., a private equity company. Heather is Managing Director, Limited Partner and has served as Managing Director, Limited Partner since 10/01/2008. Heather Crosby has an ownership stake in Matheys Lane Capital Management L.P. of more than 75%. Crosby previously worked as a partner at Rex Capital Advisors, as a vice president at J.P. Morgan Securities Inc. and as a trader and a banker at Goldman Sachs & Co. Crosby earned her MBA from Harvard Business School and her bachelor's degree from Dartmouth College. Opportunities and Challenges We have several opportunities to pursue with the Deering/Crosby family as outlined below. There are a few challenges. First, Heather Crosby runs an RIA that helps manage the Deering family assets. The RIA has pushed for an overly simple, low fee asset allocation. Despite serving as an RIA, they seem relatively unsophisticated. The Crosby assets are not managed by the RIA, and Heather handles this account more directly despite having limited time to focus on it. Her husband is a private equity partner, and earns a lot of money, so perhaps portfolio management isn't the first priority. Finally, the family and the RIA seem to have relati

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