Epstein Data Wiki

Elysium Management LLC

Properties2
tagsentity, leon-black, family-office, apollo-global-management, deutsche-bank, art, trusts, tax, new-york
aliasesElysium Management LLC, Elysium Management, Elysium Mgmt, Elysium

41 min read

Elysium Management LLC

⚠ what this page is about, and what it is not

Elysium Management LLC was the family office of Leon D. Black, at 445 Park Avenue, Suite 1401, New York. Several pages on this wiki already record what individual members of its staff did, and two more name the office in passing. This page records the office itself: what the documents show it was, who worked in it, what it did, and what it did with and for Jeffrey Epstein. No allegation against the office or against any member of its staff was found in the material reviewed for this page, and none is made here. No telephone number, fax number, e-mail address, bank account identifier or client reference number appearing in any document cited below is reproduced on this page. ⚠ The people named here are documented as employees, officers and advisers of a family office. Working in Leon Black’s family office is not an allegation of anything.

What it wasThe family office of Leon D. Black, described as such in the Dechert LLP report commissioned by Apollo’s conflicts committee, in a United States Senator’s letter, and in Deutsche Bank’s own client record123
Address445 Park Avenue, Suite 1401, New York, NY 10022456
Ownership, as the office’s own officers describe it”I assume leon owns 100% of elysium?”, Brad Wechsler to the office’s chief legal officer, 2 June 2015; the reply proposes that “Leon would be the sole Member and Managing Director”7
Chief financial officerRichard Joslin, signing “CFO / Elysium Management LLC” from the autumn of 20134
Chief legal officerAda Clapp7
Second officerBrad Wechsler: “member (managing director)” in his own words in June 2015, “Managing Partner” on a contact record, “CEO” on Deutsche Bank’s July 2016 account plan763
Reach in the full text2,462 documents carry “Elysium Management”; 2,045 carry “Elysium Management LLC”, which is a proper subset; the bare token “Elysium” reaches 3,1078
Anchor4 September 2014: the office’s chief financial officer allocates a twenty-item list sent under the subject “Items from JEE” across the initials of the office’s own staff, and proposes meeting Epstein about the larger items9104
Litigation recordNone found in the material reviewed for this page. The searches run are named at 11

Elysium Management LLC is the company through which Leon D. Black, the chairman and chief executive of Apollo Global Management, ran his money. Its staff kept the art inventory, moved the wires, drafted the trust instruments, answered the Internal Revenue Service, negotiated over an aircraft and argued with outside counsel about what the tax code would bear. Between 2013 and 2018 almost everything that office did passed, at some point, across Jeffrey Epstein’s desk.

This wiki already carries the acts of four people who worked at or with that office: its chief financial officer, the woman who typed the wire instructions, Black’s executive assistant, and its chief legal officer. Two further pages name the office without being about it. What none of those pages can say is what the office was as an institution, and what Epstein’s standing inside it actually was. Two documents settle the second question further than any single person’s page could, and both are set out below.

Identification, and the name forms

The office identifies itself in its own staff’s signature blocks, which are stacked field sets and are therefore described here rather than quoted as single strings. The chief financial officer’s block gives his name, “CFO”, “Elysium Management LLC”, “445 Park Ave”, “Ste. 1401” and the city line on six successive lines, with the contact lines beneath covered by a solid bar.4 The chief legal officer’s block gives her name, “Chief Legal Officer” and “Elysium Management LLC”, with her contact lines barred.5 A Deutsche Bank contact record, produced under a grand-jury confidentiality legend, carries the fields “Full Name: Brad Wechsler”, “Company: Elysium Management” and a business address at 445 Park Avenue, Suite 1401, with the telephone and e-mail fields barred, and beneath them a pasted block giving him as “Managing Partner” of the office and naming “Yvonne” as his assistant.6

The name forms were measured before anything here was written.

Form queriedDocumentsNote
"Elysium Management LLC"2,045a proper subset of the next row: 0 documents outside it8
"Elysium Management"2,462the base form used throughout this page; adds 417 to the LLC form8
"Elysium" (bare token)3,107645 documents beyond the base form, at the document level8
base form with 13 damaged spellings2,556+94 documents, 3.8% beyond the base form8
base form with all 23 tokens in the window2,568+106, 4.3%8
"elysian"29a different English word, excluded from every union above8

Unlike several subjects on this desk, the longer legal form here contains nothing the shorter form misses. That was measured rather than assumed: "Elysium Management LLC" minus "Elysium Management" is zero documents, and the shorter form adds 417.8 A page keyed on the full legal name alone would lose about a sixth of the file.

The bare token had to be partitioned and it is not what this desk expected. The 645 documents it reaches beyond the base form are, in the part of them that was read, not unrelated uses of a common noun: they are Epstein’s own office schedule and the traffic around it. The twenty-five lowest-numbered of that residue were read at the text layer, and every one of them is this office: diary lines placing meetings “at Elysium”, a standing reminder of an “Elysium Trustees Meeting”, and Epstein’s assistant arranging for a package from “Ava at Elysium”.12 Probes for the other senses of the word return small numbers that were not individually read and are reported as counts only: with “film” 19 documents, “movie” 8, “hotel” 9, “yacht” 8.8

⚠ A methodological note, because the two figures disagree and both are correct. At the document level, "Elysium" minus "Elysium Management" is 645. Run as a single FTS5 NOT query the same question returns 676, because NOT operates on the indexed row, which here is a page: a document carrying the bare word on one sheet and the full name on another is excluded by the set difference and included by the query. 645 is the document-level figure and is the one used above.8

⚠ The enumeration scope, stated with the number. Damaged spellings were enumerated by a Damerau-Levenshtein sweep at distance ≤2 over fts5vocab tokens beginning with the letter e, over a length window of 5 to 10 characters (target length 7, minus 2 to plus 3). A variant whose first letter is damaged, or one outside that window, would not have been seen. A full-vocabulary sweep was attempted twice and did not complete; it is recorded as unrun.8 Every figure above is a floor.

What the office was, and what the documents do not settle about it

The Dechert LLP memorandum to Apollo’s conflicts committee records that Black formed a family office in 2008 to manage his finances, trusts and estate planning, that it began with a single employee and had about ten by 2014, and that it operated as Elysium Management LLC; a schedule of Black family entities dated 23 March 2015 lists the company with Leon D. Black as member and president and Black and Brad Wechsler as managing directors. Both are set out with their citations on Leon D. Black and are not re-derived here.1

The office’s own officers were not certain of its ownership, and wrote so. On Tuesday 2 June 2015 Brad Wechsler opened a message to the chief legal officer, copying the chief financial officer, Epstein and outside counsel, with a question: “1. I assume leon owns 100% of elysium?”7 Nobody on the sheet answers it. The reply beneath his message, written earlier the same day, proposes a restructuring in which “Leon would be the sole Member and Managing Director”.7

⚠ What is not established. No certificate of formation, articles of organisation, operating agreement or annual report of Elysium Management LLC is in the material reviewed for this page, and no document read here states the state under which it was organised. A search of the release for the company’s name together with “Certificate of Formation” returns one document, which was read and is not such an instrument.11 Nineteen documents pair the company’s name with the phrase “New York limited liability company”; in every one of those read for this page the phrase describes a different company, BV70 LLC, whose address is given care of this office, and not Elysium itself.13 A care-of address is not a state of organisation, and the two are not conflated here.

Who staffed it

The office’s people are named on the sheets cited throughout this page and on the four person pages this wiki already carries. In the material reviewed here:

  • Richard Joslin, chief financial officer from the autumn of 2013, signing “CFO / Elysium Management LLC”.4
  • Ada Clapp, chief legal officer, who came to the office from U.S. Trust by way of Black Family Partners.514
  • Brad Wechsler, the second officer, whose title moves across the record: a member and “managing director” in his own words in June 2015, “Managing Partner” on a contact record, and “CEO” on Deutsche Bank’s account plan of July 2016.763
  • Eileen Alexanderson, who administered the bank accounts and whose sign-off block changes from Apollo Management to Elysium Management during 2014.15
  • Heather Gray, who handled the art agreements and wrote to Epstein about who should pay for Black’s art.1617
  • Joe Avantario, recorded on a contact sheet as of Elysium Management and “Formerly at shoenfeld”; the sheet’s own title line is damaged and no title is asserted for him here.18
  • “Ava” and “Yvonne”, named in third-party correspondence as, respectively, the person who sent a package of documents from the office and Brad Wechsler’s assistant. No surname for either is given on any sheet read for this page.196

⚠ No page exists on this wiki for Brad Wechsler, Heather Gray, Lawrence Delson or Joe Avantario, each of whom appears above.

What the office did

The acts are documented on the four person pages and are not restated at length. In summary, and each with its citation there: it built and kept the art inventory and valued it on a Sotheby’s appraisal; it instructed the wires, including the assembly of $67,067,000 into one company in a single morning in October 2012 and the payment of $15,000,000 to Epstein’s Virgin Islands company on 29 April 2014; it drafted and served the trust instruments, including six decanting letters of 26 February 2014 on Elysium Management LLC letterhead sent by certified mail to Black and five members of his family; it ran the valuations and the tax filings; and it negotiated over an aircraft.152014

Two smaller things sit only here. The office held agreements on Black’s art with named counterparties: on one evening its art manager sent a proposed agreement with Ronald Lauder and a summary of it, saying she had e-mailed both documents to Black’s assistant “for Leon’s review”.17 And the office’s own costs were an item on Epstein’s agenda for Black. Item 24 of the twenty-five-item list headed “Leon Black: Decisions Needed ASAP (Oct. 28, 2015)” reads “Review Legal Bills Carefully-Personal vs Elysium”.21 That list is already cited on Leon D. Black at its first two sheets; the Elysium item is on the fourth, which no page here had opened.

Epstein and the office

This is the question a page about the office has to answer and a page about any one person in it cannot. The documents establish a great deal and they do not establish everything, and the division between the two is set out deliberately below.

4 September 2014: “Items from JEE”

At 9:14 in the morning of Thursday 4 September 2014 the office’s chief financial officer sent Epstein a numbered list of twenty items with staff initials written against each, under the subject “Items from JEE”. His covering lines read: “I pencilled some names next to each. Sug=est that we meet in advance of next week’s meeting to discuss larg=r/ broader issues eg #4/ 17. I am generally free today and tmo.”9

He then divided the list three ways across the office:

“HG/EA/RJ meeting today at 2:30 so items to go over a=t issues and we can include 1, 2, 3, 5, 7”9

“EA/LD: Can you give me times today to discuss 6, 8, =, 15, 20 and 14”9

“LD: Can you give me times to update you on 12,=13, 19”9

At 1:19 that afternoon Epstein replied, in full: “can talk at 3 ▮” (the bar is the producer’s, on the sheet).9

The items themselves are the office’s whole working brief in twenty lines. Among them: “1 I need the =list of art from biggest loss to largest gain.”; “3. leon should dec=de -bronzes in or out for insurance?”; “4. leon should prepare a=list of things to be sold first in case of death.”; “8. decide procedure for =roject accounting , 70 st house.”; “11 brh agreement.”; “14. admin asst. as=p. ( this is now silly ).”; “17 new part doc s? =to be discussed first with leon.”; and “20. re org of phai=on. and associating with new partnership.?”9104

⚠ The = characters are printed on the sheets. They are quoted-printable damage that was carried into the document before it was scanned, not an artefact of this desk’s extraction, and this was settled by rendering all three sheets at 700 dpi.9

⚠ What this establishes, and what it does not. It is a documented fact that the office’s chief financial officer received a twenty-item list under a subject line naming Epstein by his initials, assigned each item to named members of the office’s staff, and proposed meeting Epstein in advance of the office’s own meeting to discuss the broader items. The sheets do not carry the message in which the list was first sent, so who typed each of the twenty lines is not established by them; what is established is the subject line, the register of the items, which is the lowercase unpunctuated style Epstein’s own writing carries throughout this release, and the fact that the office worked them as a list of tasks. Whether any of the three meetings proposed in the message took place is not recorded on any sheet read for this page: these are arrangements, not occurrences.

2 June 2015: the family office exception, and Epstein’s goals for tax reporting

Nine months later the office set about restructuring itself, and the reason it gave was Epstein.

That morning the chief legal officer reported to Brad Wechsler, copying the chief financial officer, what three lawyers at Paul, Weiss had proposed. The scheme turned on the registration exception that United States securities law gives to a family office. Her first item reads: “Elysium Management LLC, rather than Leon should be the sole member of AP Investco. Phil feels that Investco should be a wholly owned subsidiary of the family office in order to ensure that the arrangement falls within the FO exception.”7 Her second: “To improve the optics for the FO exception (which requires that the FO be controlled by family members), you would be removed as a Managing Director of Elysium and instead be appointed as an officer with day-to-day operating authority. Leon would be the sole Member and Managing Director.”7

Wechsler answered with four numbered points. The first asks who owns the office. The second accepts being removed as a member. The third is the sentence this page exists to record: “3. Critical point is that this comports with jeffrey’s desires/goals for tax reporting.”7 The fourth asks whether Black could simply give him a power of attorney instead, and closes: “Hasnt rowan’s and harris’ offices figured this out?”7

Epstein was copied on that message, and on the two that followed it.57

And then the office’s own chief legal officer said, in writing, that she did not know what Epstein wanted. Replying to Wechsler later that day, she wrote: “I don’t know what JEE’s goals for tax reporting are. That has not been shared with me.”5 In the same message she set out the alternative: “Leon could just hire an investment advisor to do his trading pursuant to an investment advisory agreement and avoid violating the Apollo compliance rules by using the certification Cindy Michel sent.”5 Later still she wrote: “we would want the trading accounts to be in the name of Elysium and to ensure that Elysium falls within the definition of “family office” to take advantage of the registration exception provided to family offices.”5

Read together, those two sentences are the sharpest thing in this file. The controlling consideration in restructuring the membership of Leon Black’s family office is stated by its second officer to be conformity with an outsider’s goals for tax reporting; and the office’s own chief legal officer, the person drafting the instruments, says that those goals have not been shared with her. Both sentences are documented facts about what two officers of this office wrote to each other on one day. ⚠ Neither is evidence that Epstein directed the restructuring, and no document read for this page carries any instruction from Epstein about it, or any reply from him to either message.

⚠ Two clock conventions appear on these sheets. Some messages carry an Outlook block with a bare clock time and no zone; others carry a header with an explicit +0000. No minute-level interval across the two conventions is asserted here. The order given above is the order in which the messages are quoted inside one another on the sheets.57

Where Epstein sat in the office’s day

He went there, and his own office booked it. Epstein’s assistant wrote to Brad Wechsler and his assistant on 20 November 2015: “Let’s book the meeting Jeffrey is requesting for Wed. Dec. 2nd beginning at 11:45am ending at 2:15pm at Elysium. Sound ok?”22 Ten days later she asked him directly: “Brad Wechsler will be traveling on Dec. 3 and 4…should we keep the meeting as planned on Wed. Dec. 2 from 11:45-2:15 at Elysium?”23 A daily schedule circulated inside Epstein’s office for Tuesday 5 May 2015 carries the standing line “Reminder Elysium Trustees Meeting at 2:30 at Apollo today”.24 And in November 2015 his assistant told him that “Ava from Elysium is sending documents to the house that you requested”, asking whether he wanted them couriered; his reply was two words.19

⚠ Every item in this section is a diary entry or an arrangement. Nothing read for this page records any of these meetings taking place.

What Epstein’s relationship to this office was, and what the documents do not settle

Stated as plainly as the documents allow:

  1. He was not an officer, member, employee or signatory of Elysium Management LLC, on anything read here. No corporate record, schedule of entities, bank resolution or instrument reviewed for this page names him in any capacity in the company. The March 2015 schedule of Black family entities lists the company’s member, president and managing directors and he is not among them.1 Where the release does name him against a Black vehicle, it is as a guarantor and borrower on the other side of a transaction: the April 2017 guaranty letters are addressed to BV70 LLC “c/o Elysium Management LLC, 445 Park Avenue, Suite 1401”, and the borrower is his own Virgin Islands company.25

  2. He was an outside adviser retained and paid by Black, whose retainer expressly covered the running of this office. The Dechert report describes Epstein’s work as including the management of the family office, in which he reviewed operations, interviewed candidates and recommended terminations, and the Senate Finance Committee’s letter to Apollo asks about “the work done by Epstein for the family office”.126

  3. He was treated inside the office as a node that decisions had to pass through. He allocated responsibility for the movement of Black’s money between two of Black’s own employees; the office asked him to confirm a change to the household’s art payment architecture rather than telling the assistant concerned; the chief financial officer told three trustees that a deliverable had been deferred “In consultation with JEE”; and the same officer asked Epstein’s approval before a bank saw Black’s personal financial statement. All four are documented on the person pages and are not re-derived here.2016

  4. The office’s own second officer treated conformity with Epstein’s tax-reporting goals as the controlling condition of a change to the office’s membership, and the office’s own lawyer had not been told what those goals were.57

What the documents do NOT settle, and this is stated in double weight because a family office taking instruction from an outsider would be a significant fact and the absence of it would be too:

  • ⚠⚠ NARROWED 2026-09-21, and the narrowing matters. This page originally said that no document read for it recorded Epstein giving the office an instruction that it then carried out as an instruction. A later pass opened two sheets this page had not read, and an instruction in imperative form DOES exist. On 2 June 2015 at 7:18 PM, to Clapp, Wechsler and Spinella, the whole body of Epstein’s message reads: “i think brad should trade under a poa limited to trading leons personal account .. and get it done”. What still holds, and is the point, is the second half: the office did not carry it out as given. The next morning the chief legal officer warned that such a power of attorney risked Wechsler having to register as an investment adviser and asked “Do you agree with this approach?”; Epstein’s entire reply was “no”; she restated the outside counsel advice and did not move. No executed instrument answering that direction is in the material reviewed. See Brad Wechsler.
  • ⚠ So the accurate statement is narrower than the original and narrower than the obvious reading of it: Epstein issued at least one direction in imperative terms; the record does not show the office executing it; and what the rest of the record shows is items, requests, approvals sought from him, and decisions described as reached “in consultation with” him. That is still a different thing from a chain of command, and this page does not turn one into the other.
  • ⚠⚠ No document read for this page shows Epstein being paid by Elysium Management LLC. He was paid by Black personally and by Black’s entities. One row of the Deutsche Bank transaction chart records $20,000,000 going to his Virgin Islands company on 15 July 2014 from “Narrow Holdings LLC c/o Elysium Management”; that is a care-of address on a Black entity, not a payment by the office, and the chart is set out with its source on Leon D. Black.27
  • ⚠⚠ No employment agreement, engagement letter, consultancy agreement, power of attorney, board minute or authority of any kind connecting Epstein to this company was found in the material reviewed for this page. The written service agreement the Dechert report describes runs between Black and Epstein’s own company, not between this office and anyone.1
  • Whether Epstein ever attended the office is not established. Meetings there were arranged repeatedly and no sheet read here records one occurring.

The banks’ view of the office

Deutsche Bank’s Wealth Management arm kept an account plan for it. A sheet headed “Illustrative Draft” and “Account Planning Initiative July 2016 (v1.0)” gives the name of the wealth-management client as Elysium Management, the client type as “Family Office”, the source of wealth as “Business”, the industry as “Private Equity / Investments”, the booking centre as New York, the relationship manager as Stew Oldfield, and the competitor relationships as “US Trust, JPM, GS”. Under “Main contacts at client and key personnel” the sheet’s three columns are headed “Name:”, “Title / role:” and “Notes:”, and carry Leon Black, Principal, Founder of Apollo and Brad Wechsler, CEO, Chairman of IMAX. The last client meeting is given as 6/28/2016 and the next as “TBD”. Against “Recent changes to DB relationship / contacts?” the sheet reads “Departure of Paul Morris”.3

⚠ The served page for that document is a text rendering and not a photograph of the spreadsheet, so rendering it does not recover the sheet’s row and column structure; the pairings above are read from the sheet’s own three-column heading and are stated as such. An estimated total net worth and an estimated liquid-asset figure are printed on the sheet as unevaluated currency conversions; they are the bank’s own estimates of a client’s wealth and are not reproduced here. A client identifier printed on the same sheet is not reproduced.3

Paul Morris is the Deutsche Bank relationship manager who set the opening of the Epstein account in motion in March 2013, and Stewart Oldfield is the director who succeeded to the Epstein relationship. The same two bankers covered Epstein’s accounts and Leon Black’s family office, and the departure of the first was recorded as a change on the family office’s account plan.328

The bank nevertheless kept the two apart in its own books. A Deutsche Bank customer list for 2018 groups twenty-one customers under a “Southern Financial Relationship”, which is Epstein’s own accounts and entities, and lists Leon D. Black separately under an “Elysium Management Relationship” with its own relationship number. That document has its own page here and is not restated.29

After Epstein: the report, and the Senate

When Apollo’s conflicts committee commissioned Dechert LLP in October 2020, the family office was one of the four custodians whose documents the firm reviewed: the report records that Dechert reviewed more than 60,000 documents from Black, Apollo, Elysium Management LLC and Paul, Weiss.1 The office was treated as a party with its own document population, distinct from Black and from Apollo.

On 22 June 2022 the Chairman of the Senate Committee on Finance wrote to Apollo’s chief executive seeking information about the Black-Epstein arrangement. The first of the letter’s thirteen numbered demands asks whether Apollo had “transferred control of these documents to Leon Black, his family office (Elysium Management, LLC) or any other individuals or entities operating on Mr. Black’s behalf?”2 The second asks how solutions developed by Epstein “differed from those offered by licensed tax attorneys, certified public accountants or other professional advisors engaged by Black for his estate and family office.”2 The eleventh asks for a description of “the work done by Epstein for the family office to resolve the matter.”26

⚠ The letter is a request for information, not a charge, a finding or an allegation of wrongdoing. ⚠ It closes over a printed name, a title and no mark this desk has examined: the sheet carrying the subscription was not rendered, and nothing here says who signed it. No reply from Apollo to this letter is in the material reviewed for this page.30

Timeline

DateEventArranged / occurredSource
2008Black forms a family office; one employee at the outset, about ten by 2014occurred1
3 Oct 2012Wire instructions still signed “Black Family Partners, L.P., c/o Apollo Management”occurred15
autumn 2013Richard Joslin joins as chief financial officeroccurred20
26 Feb 2014Six decanting letters go out on Elysium Management LLC letterhead by certified mailoccurred14
4 Sep 2014Twenty items under the subject “Items from JEE” are allocated across the office’s staff by its CFOoccurred9
30 Oct 2014The chief legal officer’s block gives her title as chief legal officer of the officeoccurred14
13 Nov 2014Eileen Alexanderson’s sign-off block now reads Elysium Management, 445 Park Avenueoccurred15
14 Nov 2014The office tells Epstein that Black’s art payments should move to the family officeoccurred16
23 Mar 2015A schedule of Black family entities lists the company’s member, president and managing directorsoccurred1
5 May 2015”Elysium Trustees Meeting at 2:30 at Apollo today” stands on Epstein’s daily schedulearranged24
2 Jun 2015Restructuring for the family office exception; “Critical point is that this comports with jeffrey’s desires/goals for tax reporting”; the office’s lawyer says those goals have not been shared with heroccurred57
28 Oct 2015”Review Legal Bills Carefully-Personal vs Elysium” stands as item 24 of a list of decisions needed from Blackoccurred21
13 Nov 2015”Ava from Elysium” sends a package of documents to Epstein’s houseoccurred19
2 Dec 2015A meeting is booked for Epstein at Elysium, 11:45 to 2:15arranged2223
Jul 2016Deutsche Bank’s account plan records the office as a family office client and notes the departure of Paul Morrisoccurred3
17 Apr 2017An Epstein guaranty is addressed to BV70 LLC care of the officeoccurred25
22 Jan 2021Dechert records reviewing more than 60,000 documents from Black, Apollo, Elysium Management LLC and Paul, Weissoccurred1
22 Jun 2022The Senate Finance Committee asks Apollo whether the Dechert documents went to the family officeoccurred2

What this page does not establish

These absences are scoped to the material reviewed for this page and to the searches named at 11.

  • The company’s constitution. No formation instrument, operating agreement or annual report, and no statement of the state under which it was organised.
  • Its full staff list. The people named above are those the documents read here name. No payroll record, organisation chart or employee list for the office was found: the company’s name with “payroll” returns 6 documents and with “headcount” 1, none of which is such a record.11
  • Whether the June 2015 restructuring was carried out. The proposal, the acceptance in principle and the instruction to draft are on the sheets. No executed instrument is in the material reviewed for this page.
  • What Epstein’s goals for tax reporting were. The office’s own chief legal officer wrote that she did not know. Nothing read for this page supplies them.
  • Whether the office continued after October 2018, the date by which the Dechert report says Black severed relations with Epstein. Nothing read here bears on it.

Notes

Footnotes

  1. The Dechert LLP memorandum to the Apollo Conflicts Committee of 22 January 2021, and the schedule of Black family entities of 23 March 2015. The account of the family office’s formation in 2008, its growth from one employee to about ten by 2014, its operation as Elysium Management LLC, the schedule’s listing of the company’s member, president and managing directors, the description of Epstein’s work as including the management of the family office, the retainer between Black and Epstein’s own company, and the report’s record of reviewing more than 60,000 documents from Black, Apollo, Elysium Management LLC and Paul, Weiss are all set out with their citations on Leon D. Black. Not re-derived for this page. ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9

  2. Letter from the Chairman of the Senate Committee on Finance to Marc Rowan, Chief Executive Officer, Apollo Global Management, Inc., June 22, 2022, numbered demands 1 to 7. EFTA02731018 p. 3. Read at the image at 500 dpi. The run is five sheets and is one letter; p. 1 carries the committee letterhead with the membership list running down the left margin, and its extraction of that list is heavily damaged and was not used. The first quoted sentence continues from the foot of p. 2. ↩ ↩2 ↩3 ↩4

  3. Deutsche Bank Wealth Management, “Account Planning Initiative July 2016 (v1.0)”, marked “Illustrative Draft”, four sheets of which pp. 3 and 4 are the blank template and the bank’s own footer. EFTA01422028 p. 1. Rendered at 500 dpi and read. ⚠ The served page is a monospaced text rendering of the underlying spreadsheet and not a photograph of it, so rendering does not recover the row and column structure; the pairings quoted on this page are read from the sheet’s own column heads, “Name:”, “Title / role:” and “Notes:”. The estimated net-worth and liquid-asset cells print as unevaluated division expressions; they are the bank’s estimates of a client’s wealth and are not reproduced. A client identifier number printed on the sheet is not reproduced. A second copy of the same document is at EFTA01425424 p. 1 and was not opened. ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7

  4. The same message, items 17 to 20 and the signature block. EFTA02587540 p. 3. Read at the image at 700 dpi. The block gives, on six successive lines, “Richard Joslin”, “CFO”, “Elysium Management LLC”, “445 Park Ave”, “Ste. 1401” and “New York, NY 10022”, with a solid bar covering the lines beneath. It is described rather than quoted as one string, because a stacked block is not reliably contiguous in the rendered text and this desk has fabricated a quotation by stitching one before. ↩ ↩2 ↩3 ↩4 ↩5 ↩6

  5. Ada Clapp to Brad Wechsler, Tue, 02 Jun 2015 20:09:11 +0000 and Tue, 2 Jun 2015 18:14:50 +0000, and Brad Wechsler to Ada Clapp of Tuesday, June 02, 2015 2:42 PM, all on EFTA00691372 p. 1, subject “RE: Re AP Investco”. Read at the image at 700 dpi. Jeffrey Epstein is in the CC line of the two Clapp messages and of the Wechsler message. The run is two sheets and is one e-mail chain. ⚠ Two clock conventions appear: Clapp’s headers carry an explicit +0000 and Wechsler’s Outlook blocks carry a bare clock time with no zone, so the two are not comparable and no interval is asserted; the order given on the page is the quoting order on the sheets. Clapp’s signature block at the foot gives her name, “Chief Legal Officer”, “Elysium Management LLC”, “445 Park Avenue”, “Suite 1401” and the city line on separate lines, with the direct dial, fax and e-mail lines covered by bars; it is described rather than quoted. Sender and recipient values elsewhere on the sheet are covered by bars. No contact value from this sheet is reproduced. Wechsler’s message reads “haad” for “had” on the sheet and is quoted as printed where quoted. ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10

  6. Contact record, “Full Name: Brad Wechsler”, “Company: Elysium Management”, produced under a CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) legend with Deutsche Bank and Southern District of New York Bates stamps. EFTA01377554 p. 1. Read at the image at 600 dpi. The business-phone and e-mail fields are covered by bars. Beneath the fields a pasted block gives “Brad Wechsler”, “Managing Partner”, “Elysium Management”, “445 Park Avenue, Suite 1401”, “(Bet. 56th & 57th Street)” and “New York, NY 10022” on successive lines, with a large bar covering the lines below; the block is described rather than quoted as one string. A line reading “Yvonne - Assistant” stands above it with a bar beneath. ⚠ That line is absent from this sheet’s extracted text layer altogether, so a checker searching the text layer will report it unresolved; it was read at the image and the reading is the image’s. No contact value from this sheet is reproduced. ↩ ↩2 ↩3 ↩4 ↩5

  7. Brad Wechsler to Ada Clapp, copying Richard Joslin, Jeffrey Epstein and Alan S. Halperin, Tuesday, June 02, 2015 2:02 PM, subject “Re AP Investco”, carrying beneath it Ada Clapp’s message of Tue, 2 Jun 2015 15:59:59 +0000 to Wechsler copying Joslin, subject “AP Investco”. EFTA00691372 p. 2. Read at the image at 700 dpi. ⚠ The extraction of this sheet renders “I assume leon owns 100% of elysium?” as “I assume loon owns 100% of elysium?”; the image reads “leon”, and a checker searching the text layer for the quotation as given above will report it unresolved. The pin is correct and the extraction is wrong. The em dash in “Elysium—as sole Member” is the sheet’s own. Clapp’s message names three outside lawyers at Paul, Weiss; their names are given as the sheet gives them. Sender and recipient values are covered by bars on this sheet and are not reproduced. ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11 ↩12 ↩13 ↩14

  8. Counts taken 21 September 2026, distinct EFTA identifiers, FTS5 phrase queries scoped to text_content, run against the full-text corpus both locally and over HTTP. "Elysium Management LLC" 2,045; "Elysium Management" 2,462; the difference of the two sets is 0 in one direction and 417 in the other, so the longer form is a proper subset. "Elysium" 3,107, of which 645 carry no instance of "Elysium Management" at the document level. Run as a single NOT query the same question returns 676, because FTS5 NOT operates on the indexed row, which here is a page; 645 is the document-level figure used on this page. A Damerau-Levenshtein sweep at distance ≤2 over fts5vocab('main','pages_fts','row') tokens beginning with e, length window 5 to 10 characters (target elysium, length 7, minus 2 to plus 3), returned 25 tokens: elysium 3,758 pages, elsyium 47, elysian 31, eysium 29, ellsyium 7, elsyum 4, elysi 4, elgium 3, elysilc 3, elysiu 3, elysiumv2 3, elvsium 2, elyseum 2, elysuim 2, and eleven tokens at 1 page each. These are PAGE counts, from fts5vocab, and are not document counts. The union of the base form with the 13 clearly Elysium-shaped damaged tokens reaches 2,556 documents, +94 or 3.8%; the union with all 23 non-base tokens in the window reaches 2,568, +106 or 4.3%. "elysian" 29 documents, a different English word, excluded from both unions. Unrelated-sense probes, counts only, not read: "Elysium" with “film” 19, with “movie” 8, with “hotel” 9, with “yacht” 8, with “Greek” 0, with “mythology” 0. ⚠ Every figure here is a floor. The variant enumeration covered only tokens beginning with e; a variant whose first letter is damaged would not have been seen, and a full-vocabulary sweep was attempted twice, did not complete against a faulting mount, and is recorded as unrun. ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11

  9. “jeffrey E.” to Richard Joslin, Thursday, September 4, 2014 1:19 PM, subject “Re: Items from JEE”, carrying Joslin’s message of the same day at 9:14 AM beneath it. EFTA02587540 p. 1. Read at the image at 700 dpi, as were pp. 2 and 3 of the same four-sheet run. The run is homogeneous: one e-mail printed across four sheets, pp. 1 to 3 carrying the message and the twenty items and p. 4 carrying only a confidentiality footer. ⚠ The = substitutions and the stray HTML fragments (<=p>, <=u>, </=pan>) are printed on the sheets, from a quoted-printable source, and were confirmed at the image; quotations reproduce them. The body of Epstein’s reply is followed by a solid producer bar, marked ▮ above. A bar also covers the sender value after Joslin’s name in the quoted attribution line. Contact values on these sheets are not reproduced. ⚠ Three text-layer fabrications were caught at the image on this run and are recorded so the next reader is not misled: p. 2’s extraction renders the initials “LDB/AC/EA/HG” as 1D8/AC/EA/HG and “RJ<=p>” as Fti<=p> and Map>, and p. 3’s extraction renders “AC/HB” as AC/H8. The initials quoted on this page are read from the image. ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9

  10. The same message, items 5 to 16 with their initials. EFTA02587540 p. 2. Read at the image at 700 dpi. ⚠ The initials are the sheet’s own and this page expands only those it can support. “RJ” is Richard Joslin, from the signature block on p. 3 of the same run. “EA”, “HG”, “AC”, “LD” and “LDB” correspond to the forenames and surnames of Eileen Alexanderson, Heather Gray, Ada Clapp, Lawrence Delson and Leon D. Black, each of whom appears by name in this office’s traffic; the expansion is this desk’s reading of the initials and no sheet expands them. “HB” was not resolved and no expansion is offered for it: the release pairs this office’s name with “Harry Beller” in a single document, which is not a basis for anything. ↩ ↩2

  11. Absences, scoped to these searches and to the material reviewed for this page. The company’s name with “Certificate of Formation” returns 1 document, which was read and is not such an instrument; with “payroll” 6; with “headcount” 1; with “employees” 23; with “lease” 21; with “budget” 5. None of the documents returned by those searches and read for this page is a formation instrument, an operating agreement, an annual report, a payroll record, an organisation chart or an employee list for this company. The searches for a litigation record returned nothing placing the office in a deposition, a filing or an investigative interview other than the Dechert review and the Senate letter described above. This is a statement about the searches named and not about the release as a whole. ↩ ↩2 ↩3 ↩4

  12. The twenty-five lowest-numbered documents of the residue that reaches the bare token and not the base form were read at the text layer. Every one is this office: entries on Epstein’s own daily schedule placing a meeting “at Elysium”, the standing reminder of an “Elysium Trustees Meeting at 2:30 at Apollo”, scheduling traffic about a meeting there, and the package “from Ava at Elysium”. This is a lowest-Bates sample, not a random one, and it is a statement about those twenty-five documents and not about all 645. ↩

  13. Nineteen documents pair “Elysium Management LLC” with “New York limited liability company”. Those read for this page are the April 2017 guaranty letters and promissory notes, in which the phrase describes BV70 LLC, whose address is given care of this office, and not Elysium Management LLC. EFTA00594105 p. 1, EFTA00622829 p. 1, EFTA00622816 p. 1 and EFTA00787676 p. 1. Text layer only; none of these sheets was rendered for this page, and the guaranty letters are cited and described on Leon D. Black and Plan D, LLC. A separate limited liability company agreement gives the business office of “FRIENDS VENTURES LLC” care of this office: EFTA01202875 p. 1, text layer only. ↩

  14. The chief legal officer’s acts. The six decanting letters of 26 February 2014 on this office’s letterhead, her signature blocks at U.S. Trust, at Black Family Partners and at this office, and her exchanges with the chief financial officer are set out with their citations on Ada Clapp. Not re-derived for this page. ↩ ↩2 ↩3 ↩4

  15. The wire instructions. The five instructions of 3 October 2012 assembling $67,067,000, the sterling conversion the same day, the $15,000,000 to Southern Trust Company, Inc. of 29 April 2014 and the change of her sign-off block from Apollo Management to Elysium Management by 13 November 2014 are set out with their citations on Eileen Alexanderson. Not re-derived for this page. ↩ ↩2 ↩3 ↩4

  16. Heather Gray’s message of 14 November 2014, in which the office tells Epstein that payment for all Black’s art purchases should be handled by the family office and describes Black’s assistant as paying for his personal art under a power of attorney, is quoted in full with its citation on Melanie Spinella and is cited again on Eileen Alexanderson. Not re-derived for this page. ↩ ↩2 ↩3

  17. Heather Gray of Elysium Management LLC, sending a proposed agreement with Ronald Lauder and a summary of it, writing that she had e-mailed both documents to Black’s assistant “for Leon’s review”. EFTA02717234 p. 1. Text layer only; not rendered for this page. ⚠ The extraction of this sheet is damaged at several words and the sentence is therefore described rather than quoted beyond the four-word phrase given. A companion message on a Sotheby’s consignment agreement is at EFTA02716678 p. 1. See Ronald Lauder. ↩ ↩2

  18. Contact record in the same series, “Full Name: Joe Avantario”, “Company: Elysium Management”, with the business address given as 445 Park Avenue, Suite 1401. EFTA01369541 p. 1. Text layer only; this sheet was not rendered for this page. ⚠ The extraction of the title line reads “icer”, a fragment, and no title is asserted for him here. The line “Formerly at shoenfeld” stands in the extraction and is given as it stands. The business-phone and e-mail fields carry no values in the extraction. ↩

  19. “jeffrey E.” to Lesley Groff, subject “Re: Documents from Ava at Elysium”, Fri, 13 Nov 2015 18:41:46 +0000, carrying Groff’s message of the same day beneath it: “Ava from Elysium is sending documents to the house that you requested.” EFTA00335177 p. 1. Text layer only; not rendered for this page. Further copies of the same exchange are at EFTA00335164 p. 1, EFTA00335181 p. 1 and EFTA00335184 p. 1. No surname for “Ava” appears on any of them. ↩ ↩2 ↩3

  20. The chief financial officer’s acts. His arrival in September 2013, the art inventory, Epstein’s instruction that “joslin will oversee payments”, the deferral told to three trustees “In consultation with JEE”, the request for Epstein’s approval before a bank saw Black’s personal financial statement, the aircraft negotiation and the account ledger marked “(Spinella POA)” are set out with their citations on Richard Joslin. Not re-derived for this page. ↩ ↩2 ↩3

  21. The list’s own heading, “Leon Black: Decisions Needed ASAP (Oct. 28, 2015)”, stands at the head of EFTA00305986 p. 1; the Elysium item, numbered 24 and standing between items 23 and 25, is on EFTA00305986 p. 4, the last of the four sheets. Text layer only; neither sheet was rendered for this page. ⚠ The heading and the quoted item are on different sheets and are pinned separately here, because a footnote pinning one page while quoting strings from two is two claims wearing one citation. The first two sheets of the same run are cited on Leon D. Black for the list as a whole; p. 4 was not opened there. ↩ ↩2

  22. Lesley Groff to Brad Wechsler and an assistant named on the sheet only by forename, subject “Jeffrey Epstein”, Fri, 20 Nov 2015 18:26:03 +0000. EFTA00334335 p. 1. Text layer only; not rendered for this page. Two further copies of the same message are at EFTA00334340 p. 1 and EFTA00334341 p. 1. Nothing cited here records the meeting taking place. ↩ ↩2

  23. Message into Epstein’s address, subject “Brad Wechsler”, Mon, 30 Nov 2015 15:52:12 +0000. EFTA00334245 p. 1. Text layer only; not rendered for this page. The sender value is covered on the sheet and is not reproduced. Nothing cited here records the meeting taking place. ↩ ↩2

  24. Epstein office daily schedule circulated Mon, 04 May 2015 15:41:47 +0000, subject “Leon Black”, carrying the block for Tuesday, May 5, 2015. EFTA00348146 p. 1. Text layer only; not rendered for this page. The same standing line recurs on several further copies of the same schedule in the release. ⚠ A diary entry is evidence of an arrangement, not of attendance. ↩ ↩2

  25. The April 2017 guaranty letters, addressed to “BV70 LLC c/o Elysium Management LLC, 445 Park Avenue, Suite 1401, New York, NY 10022”, are cited and described on Leon D. Black and Plan D, LLC. Not re-derived for this page. ↩ ↩2

  26. The same letter, numbered demands 8 to 13. EFTA02731018 p. 4. Text layer only; this sheet was not rendered for this page. ↩ ↩2

  27. The Deutsche Bank transaction chart. The row recording $20,000,000 from “Narrow Holdings LLC c/o Elysium Management” to Southern Trust Company, Inc. on 15 July 2014, and the rest of the chart, are set out with their source on Leon D. Black. Not re-derived for this page. ↩

  28. The two Deutsche Bank relationship managers. Paul Morris’s role in the March 2013 opening of the Epstein account is set out on Paul Morris, and Stewart Oldfield’s succession to that relationship on Stewart Oldfield. Neither was re-derived for this page, and nothing here says either man did anything improper. ↩

  29. The 2018 Deutsche Bank customer list, which groups Epstein’s own accounts and entities under a “Southern Financial Relationship” and lists Leon D. Black separately under an “Elysium Management Relationship”, has its own page here: the 2018 Deutsche Bank customer list. Not re-derived for this page. ↩

  30. The same letter, closing page. EFTA02731018 p. 5. ⚠ UPDATED 2026-09-21: this sheet has since been RENDERED AND READ AT THE IMAGE at 700 dpi by the documents/EFTA02731018 pass, and the open question is closed. There is a signature in blue ink written across and overhanging the rule, above the printed name, “United States Senator” and “Chairman, Committee on Finance”. This footnote previously said the sheet was text-layer only and that no mark on the rule had been examined; that was accurate when written and is now superseded. The letter is addressed to Marc Rowan, Chief Executive Officer, Apollo Global Management, Inc., not to Leon Black, and carries thirteen numbered demands with a return date of 9 July 2022. See the letter itself. ↩

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