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was his introduction to me of a man named Glenn Dubin. And Glenn Dubin was the founder of a hedge fund called Highbridge Capital Corporation. Q Why is that significant to you? A So in the 2000s, I started out running a Private Bank. And as I said, the then-CEO asked me to add asset management. And the asset management business at that time, the traditional asset management business, was called a long-only business. Asset managers like Fidelity, Capital, and J.P. Morgan and Vanguard would manage portfolios of stocks and portfolios of bonds from a long-only position. That was the principal asset management business. What was developing in the early 2000s were two alternative ways to manage money. One was called private equity. So rather than buying public securities, you would invest in nonpublic companies. The other was the hedge fund industry. And what narrowly defined the hedge fund industry was not only would you go long stocks and bonds, but you could also go short stocks and bonds. And one of the early hedge funds was Highbridge Capital Corporation. Q So did Mr. Epstein's introduction to Glenn Dubin change the nature of your relationship? A Yes, to the extent that over a period of time, over a year or so, I got to know Glenn Dubin. I got to understand somewhat the hedge fund industry. And it began to become an idea with Glenn and myself that perhaps J.P. Morgan as a long-only asset manager make an investment in Highbridge Capital. And Epstein was aware of that. Q And he earned a $15 million fee from that transaction, correct? A So he encouraged the conversation between Glenn and myself. It took a fair period of time for Glenn and I to reach the conclusion that it might work. It was an internal process of getting Morgan comfortable with the possibility that we might invest in a hedge fund. So it took a period of time, but ultimately Glenn and I found a way to make it work. Epstein