EFTA01114630.pdf

As of September 30, 2014 Dolled HISIOriCal Solid ine - Current TRUSTS WITH EXTERNAL TRUSTEES Trustees (in millions) U.S. Trust BC DB JH JH LDB RR BC RR JH JH LDB NB BC (Delware) as administrative Matte 1997 Black Leon Black Judah 2009 1968 Trusts 1992Trusts Slack 2003 Family Trust 1999 Fond/ Trust Trust twimase B J AV : :8 J A V Om LOB by Insurance Trust A) Trust 1 asselsclecoledZen all moots docinoaXii3 .0 met, drenlet 2014 [ Black 2011 Family Trust APO Agreement APO2 Back Family Leon Sal Debra and Declaration 1997 GST 999 Leon Black Insurance EIHEEI LDB 2011 LLC LBF Holdings LLC Exempt Trust Trust 2 Insurance Trust (1992) LDB 2014 Art Partnership LLC 1.1% 125% Black Family Partners LP ! BAR LLD Black 2011 Family Trust APOI Agreement AP02 Declaration 1992 Insurance • Cash $8 • Cash - 47 Black Family Partners LP • Cash (Phaidon Global) - $1 Trust • Note rec. (LOB) - $1.687 • Buckingham RAF - $12 • $10 Hancock • LOB 2011 LLC - $126 Cash $20 Notes rec.-net (LOB) - $32 • Private equity - $6 • $10 Hartford • Cash - $0.1 • LBF Hldgs LLC - $97 • BFP LP (12.5%) - $356 • Art - 4182 Heritage rec. - $3 • Notes rec. (APOI) - $135 • Art - $357 it • Life Int. M Townhouse - $34 BRH Holdngs LP - $2.210 • LDB 2014 LLC - $209 TRA (contingent rec.) - $322 • Real estate IOFH. Warren St.. 1999 Ins. Trust #2 Investment Ptrsps - $98 SH Meadow) - $28 • $100 insurance on • Notes pay. (MI Tr) - (4f35) • Notes pay. (LOB 2011)- ($9) Apollo Investments - $70 • Phaidon Global cost- $62 LBOB )2nd to Die) • Sates Tax payable- ($1) Ph. Eq. (non Apollo) - $62 • Regan Ms Cass- $2 Total Value: $335 Credit Facility (Phaidon Global) - $13 • ArtspaceLLC-$5 Total Value: $1,998 Pvt. ED/Debt/ROStr. Stock - S6 Black Family 1997 GST • NerePaY. (1-SP) - Exempt Trust LDB 2014 LLC • Loans (BFP) - ($1t) • Phaidon Global cost- $3.0 • Cash - $6 LDB 2 11 LLC Total Value: $2.836 • Note pay. (OFH)- ($8) • ReganArts cost -$0.1 • BFP LP (7.2%) - $203 • Cas - $7 • Other pay. - (SI) • Notes rec. (2011 Tr) - $9 Total Value: $3 Mar etable Sec. - $3 Total Value: $737 • Pvt. Eq. (Apollo) - $18 • Pvt. Eq. (non Apollo) - $4 • Art -$75 • Phaidon Global cost- $11.6 • Regan Arts cost- 40.4 • Loans (BFP) - ($2) Single tnnt f/b/o Debra nd all descendants LBF Holdings LLC with dncreban to distribute sioame and separate trutt lot 010% chdd rah nurbatory • Cash - SI 11.00 trust 2/100 Debra and all doutedmus with compel. income to the chid enter ice 25 end cascrebco to • Note rec. (AP02) - $79 dscreten to doubyte ncome end min:oriel Beneficiaries clittabuto prinocol tote Or Id at anytime • Apollo Inv Corp. - $6 Trustees have escretnn to create separate trines Separate trusts for chadren/decendants on • Apollo Credit Ow. - $11 nor descendents death of Leal and Debra Total Trust Value $ 3,073 EFTA01114630  APO 2 TRUST + APO 1 TRUST + BLACK ASSET SUMMARY - TRUSTS LDB 2014 LLC + BLACK FAMILY LDB 2011 + LBF TOTAL SEPTEMBER 30, 2014 2011 TRUSTS GST TRUST HOLDINGS TRUSTS ASSETS CASH U.S. TRUST 5,875,476 7,289,407 8,014,471 21.179.354 JP MORGAN 134,224 8.169.910 8.304.134 CASH IN PHAIDON GLOBAL / PLB 1.027,390 180.244 1.207.634 5,875,476 8,451,021 16.364.625 30,691,122 BLACK FAMILY PARTNERS, LP 203,305,241 355,923,560 559,228,801 FINANCIAL INVESTMENTS MARKETABLE SECURITIES 116,843 3,048,760 3.165.603 APOLLO RELATED INVESTMENTS 35,259,265 35.259.265 OTHER PRIVATE EQUITY/ DEBT & RESTRICTED STOCK 78,326,999 15,126,670 93.453.668 INVESTMENT PARTNERSHIPS 12.423.184 463,944 12,887,128 90.867.026 53,898,639 144.765.664 INTRA FAMILY/ TRUST RECEIVABLES LDB 1.686,834,486 1.686.834.486 APO1 AGREEMENT 134.788,716 134,788,716 APO2 DECLARATION 78.953.512 78.953.512 134.788.716 1.765.787.998 1,900,576,714 FINE ART AND TANGIBLE INVESTMENTS ART - FINE 356.733.889 256.887.166 613,621,055 356.733.889 256,887,166 613,621,055 REAL ESTATE RESIDENCE - TOWNHOUSE 34,073.680 34.073.680 RESIDENCE - 715 MEADOW LANE, SH 8.300.000 8.300.000 RESIDENCE - FL CONDO 16.500.000 16.500.000 RESIDENCE - 101 WARREN STREET, NYC 3.500.500 3.500.500 28.300.500 34.073.680 62.374.180 TOTAL ASSETS 343.969.433 840.275.996 2.127.012.107 3,311,257,536 LIABILITIES THIRD PARTY LIABILITIES ACCOUNTS PAYABLE (102.796) (1.255.717) (1,358,513) BALANCE PAYABLE - FL CONDO (8.250.000) (8.250.000) (8.352.796) (1.255.717) (9.608.513) INTRA FAMILY/ TRUST PAYABLES APO 1 AGREEMENT (9.384.078) (9.384.078) BLACK FAMILY PARTNERS LP (14.329) (1.136.600) (1.150.929) BLACK FAMILY PARTNERS LP (PHAIDON GLOBAL) (11.469.294) (2,012,157) (13.481.451) LBF HOLDINGS LLC (78.953.512) (78.953.512) CHILDREN'S TRUSTS (125.404.638) (125.404.638) (9.398.407) (91.559.406) (127.416.795) (228.374.608) TOTAL LIABILITIES (9.398.407) (99.912.202) (128.672.512) (237.983.121) NET WORTH 334.571.026 740,363.794 1.998.339.596 3.073.274.416 11/1412014 EFTA01114631  APO 21RUST + APO 1 1 RUS1+ BLACK FAMILY GROUP - TRUSTS TOTAL LDB 2014 LLC + BLACK FAMILY LDB 2011 + LBF 2011 TRUSTS GST TRUST HOLDINGS SEPTEMBER 30, 2014 FINANCIAL INVESTMENTS MARKETABLE SECURITIES VECTOR GROUP LTD 962,825 - - 962,825 Closing Price WYNDHAM WORLDWIDE CORP 796,348 - - 796,348 Closing Price UNITED TECHNOLOGIES CORP 422,400 - - 422,400 Closing Price AVIS BUDGET GROUP INC 268,961 - - 268,961 Closing Price BP PLC SPONSERED ADR 223,881 - - 223,881 Closing Price LADENBURG THALMANN FINL SVCS 61,175 - - 61,175 Closing Price SYMANTEC CORPORATION 70,765 - 70,765 - Closing Price INTERNATIONAL BUSINESS 60,746 - - 60,746 Closing Price PHH CORP 54,782 - - 54,782 Closing Price WALT DISNEY CO 32,051 - - 32,051 Closing Price HERSHEY COMPANY 30,538 - - 30,538 Closing Price EXXON MOBIL CORP 30,096 - - 30,096 Closing Price ALCATEL-LUCENT 29,427 - 29,427 - Closing Price COCA COLA COMPANY 20,477 - - 20,477 Closing Price BOEING CO 20,381 - - 20,381 Closing Price PHILIP MORRIS INTERNATIONAL 20,016 - - 20,016 Closing Price MICROSEMI CORP 16,644 - 16,644 - Closing Price ALTRIA GROUP INC. 11,026 - - 11,026 Closing Price TWENTY FIRST CENTURY FOX CL B 10,659 - - 10,659 Closing Price TWENTY FIRST CENTURY FOX CL A 6,858 - - 6,858 Closing Price MONDELEZ INTERNATIONAL INC 5,619 - - 5,619 Closing Price SOLIGENIX INC 4,768 - - 4,768 Closing Price KRAFT FOODS GROUP INC 3,046 - - 3,046 Closing Price NEW CORPORATION CL B 1,290 - - 1,290 Closing Price NEW CORPORATION CL A 818 - - 818 Closing Price CELL THERAPEUTICS INC 7 - 7 - Closing Price TOTAL MARKETABLE SECURITIES 3,165,603 - 116,843 3,048,760 APOLLO RELATED INVESTMENTS APOLLO INVESTMENT CORP (AINV) - $8.17 5,914,655 - - 5,914,655 Closing Price SUBTOTAL PUBLIC 5,914,655 - - 5,914,655 11/14/2014 EFTA01114632  APO 2 TRUST + APO 1 TRUST + BLACK FAMILY GROUP - TRUSTS TOTAL LDB 2014 LLC + BLACK FAMILY LDB 2011 + LBF 2011 TRUSTS GST TRUST HOLDINGS SEPTEMBER 30, 2014 FINANCIAL INVESTMENTS FCI CO-INVESTORS I (A) LP 18,266,408 - - 18,266,408 6/30/14 Capital Account +/- cash APOLLO CREDIT OPP. I LP 11,077,976 - - 11,077,976 6/30/14 Capital Account +/- cash APOLLO INVESTMENT FUND LP 225 - - 225 Financial Statements 12/31/13 AIF II LP 1 - - 1 Zero net assets per 2013 F/S SUBTOTAL OTHER INVESTMENT/PE FUNDS 29,344,610 - - 29,344,610 TOTAL APOLLO RELATED INVESTMENTS 35,259,265 - - 35,259,265 OTHER PRIVATE EQUITY/DEBT & RESTRICTED STOCK PRIVATE EQUITY - NON APOLLO DUNE REAL ESTATE FUND LP 1,906,829 - 1,906,829 - 6/30/14 Capital Account +/- cash QUADRANGLE (OFFSHORE) CAPITAL PARTNERS II LP 1,681,214 - 1,681,214 - 6/30/14 Capital Account +/- cash SEARCHLIGHT CAPITAL LP 798,595 - - 798,595 6/30/14 Capital Account +/- cash QUADRANGLE (AIV) CAPITAL PARTNERS II LP 382,399 - 382,399 - 6/30/14 Capital Account +/- cash QUADRANGLE CAPITAL PARTNERS II LP 276,055 - 276,055 - 6/30/14 Capital Account +/- cash QUADRANGLE CAPITAL PARTNERS LP 271,406 - - 271,406 6/30/14 Capital Account +/- cash SEARCHLIGHT CAPITAL AIV I LP 229,747 - - 229,747 6/30/14 Capital Account +/- cash QUADRANGLE (ACCESS) CAPITAL PARTNERS LP 125,977 - - 125,977 6/30/14 Capital Account +/- cash MARKSTONE CAPITAL PARTNERS LP 125,119 - 125,119 - 2013 K-1+/- cash QUADRANGLE (AIV2) CAP PARTNERS II LP 107,486 - 107,486 - 6/30/14 Capital Account +/- cash SUBTOTAL PE FUNDS 5,904,827 - 4,479,102 1,425,725 SUBTOTAL 5,904,827 - 4,479,102 1,425,725 11/14/2014 EFTA01114633  APO 21RUST + APO 1 1 RUS1+ BLACK FAMILY GROUP - TRUSTS TOTAL LDB 2014 LLC + BLACK FAMILY LDB 2011 + LBF 2011 TRUSTS GST TRUST HOLDINGS SEPTEMBER 30, 2014 FINANCIAL INVESTMENTS PRIVATE EQUITY - REAL ESTATE & FORMER APOLLO AREIF IV CO-INVESTORS LLC 755,466 - 71,029 684,437 2013 K-1+/- cash APOLLO RE ADVISORS IV LP 109,532 - 109,532 - 2013 K-1+/- cash APOLLO RE ADVISORS III LP 56,743 - 56,743 - 2013 K-1+/- cash AREIF III CO-INVESTORS LLC 34,776 - 34,776 - 2013 K-1+/- cash AREIF III TRANSFER MEMBERS LLC 3,731 - - 3,731 2013 K-1+/- cash APOLLO RE INVESTMENT FUND LP 1 - - 1 2013 K-1(Tax) +/- cash • SUBTOTAL REAL ESTATE 960,249 - 272,080 688,169 SUBTOTAL 960,249 - 272,080 688,169 PRIVATE EQUITY/ DEBT & RESTRICTED STOCK ENVIRONMENTAL SOLUTIONS WORLDWIDE (ESWW) - $82.5 2,467,568 - 1,263,900 1,203,668 Closing Price SUBTOTAL - PUBLIC 2,467,568 - 1,263,900 1,203,668 PHAIDON PRESS LTD 69,707,345 - 59,303,264 10,404,081 Equity LOAN TO PHAIDON PRESS LTD 6,916,180 - 5,883,915 1,032,266 Cost REGAN ARTS LLC 2,497,500 - 2,124,739 372,761 Equity ARTSPACE LLC 5,000,000 - 5,000,000 n - Cost of funding SUBTOTAL OTHER 84,121,025 - 72,311,917 11,809,108 SUBTOTAL 86,588,593 - 73,575,817 13,012,776 TOTAL OTHER PRIVATE EQUITY/DEBT 8, RESTRICTED STOCK 93,453,669 - 78,326,999 15,126,670 * Allocated debt in excess of negative tax basis ___ i 11/14/2014 EFTA01114634  APO 21RUST + APO 1 1 RUS1+ BLACK FAMILY GROUP - TRUSTS TOTAL LDB 2014 LLC + BLACK FAMILY LDB 2011 + LBF 2011 TRUSTS GST TRUST HOLDINGS SEPTEMBER 30, 2014 FINANCIAL INVESTMENTS INVESTMENT PARTNERSHIPS BUCKINGHAM RAF PARTNERS LP 11,863,546 - 11,863,546 - 9/30/14 Capital Account BLUE STAR I LLC 68,050 - 68,050 - 8/31/14 Capital Account +/- cash SUBTOTAL HEDGE FUNDS 11,931,596 - 11,931,596 - AP TECHNOLOGY PARTNERS LLC 321,024 - - 321,024 % of Est. Future Cash Flows GIFTHORSE PARTNERS, LLC 227,611 - 227,611 - 2013 K-1(Tax) +/- cash AP ENERGY PARTNERS 177,864 - 177,864 - 2013 K-1(Tax) +/- cash MICROBES INVESTORS LLC 142,916 - - 142,916 2013 K-1(Tax) +/- cash PROQUEST INVESTMENTS, LP 82,631 - 82,631 - 6/30/14 Capital Account JERUSALEM VENTURE PARTNERS LLC 3,480 - 3,480 - 2013 K-1+/- cash AP SHL INVESTORS LLC 1 - - 1 Expected Write-Off VIROPRO INVESTORS LLC 1 - - 1 Expected Write-Off BHM INVESTORS LLC 1 - - 1 Expected Write-Off BLUE SUNSHINE, LLC 1 - 1 - 2013 K-1(Tax) +/- cash* M-RELATED LLC 1 - 1 - 2013 K-1(Tax) +/- cash • PAM CENTRE LP 1 - - 1 2013 K-1(Tax) +/- cash* SUBTOTAL OTHER FUNDS 955,532 - 491,588 463,944 TOTAL INVESTMENT PARTNERSHIPS 12,887,128 - 12,423,184 463,944 * Allocated debt in excess of negative tax basis 11/14/2014 EFTA01114635 LDB 2014 LLC incl 2011 TRUSTS Balance Sheet SEPTEMBER 30, 2014 Assets Cash U.S. TRUST 5.875.476 JP MORGAN CASH IN PHAIDON GLOBAL / PLB 5,875.476 BLACK FAMILY PARTNERS, LP 203.305,241i Financial Investments MARKETABLE SECURITIES APOLLO RELATED INVESTMENTS OTHER PRIVATE EQUITY/ DEBT & RESTRICTED STOCK INVESTMENT PARTNERSHIPS Intra Family/ Trust Receivables LDB APO 1 AGREEMENT 134.788,716 APO2 DECLARATION 134,788,716 Fine Art and Tangible Investments ART - FINE Real Estate RESIDENCE - TOWNHOUSE, NYC RESIDENCE - 715 MEADOW LANE, SH t RESIDENCE - FL CONDO RESIDENCE - 101 WARREN STREET, NYC Total Assets 343,969.433 Liabilities Third Party Liabilities ACCOUNTS PAYABLE BALANCE PAYABLE - FL CONDO Intra Family/ Trust Payables APO 1 AGREEMENT (9,384,078) DUE TO BLACK FAMILY PARTNERS LP (14,329) BLACK FAMILY PARTNERS LP (PHAIDON GLOBAL) LBF HOLDINGS LLC CHILDREN'S TRUSTS (9,398.407) Total Liabilities (9,398.407) Net Worth 334,571.026 EFTA01114636 APO2 DECLARATION & 97 GST EXEMPT TRUST Balance Sheet SEPTEMBER 30, 2014 Assets Cash U.S. TRUST 7,289.407 JP MORGAN 134.224 CASH IN PHAIDON GLOBAL / PLB 1,027.390 8.451,021 BLACK FAMILY PARTNERS, LP 355.923,560 Financial Investments MARKETABLE SECURITIES 116.843 APOLLO RELATED INVESTMENTS OTHER PRIVATE EQUITY/ DEBT & RESTRICTED STOCK 78,326.999 INVESTMENT PARTNERSHIPS 12,423.184 90.867,026 Intra Family/ Trust Receivables DUE FROM LDB DUE FROM APO 1 AGREEMENT DUE FROM APO2 DECLARATION Fine Art and Tangible Investments ART - FINE 356,733,889 Real Estate RESIDENCE - TOWNHOUSE, NYC RESIDENCE - 715 MEADOW LANE, SH 8,300.000 RESIDENCE - FL CONDO 16,500.000 RESIDENCE - 101 WARREN STREET, NYC 3,500.500 28.300,500 Total Assets 840.275,996 Liabilities Third Party Liabilities ACCOUNTS PAYABLE (102,796) BALANCE PAYABLE - FL CONDO (8,250,000) (8.352,796) Intra Family/ Trust Payables APO 1 AGREEMENT DUE TO BLACK FAMILY PARTNERS LP (1,136.600) BLACK FAMILY PARTNERS LP (PHAIDON GLOBAL) (11,469.294) LBF HOLDINGS LLC (78,953.512) CHILDREN'S TRUSTS (91.559,406) Total Liabilities (99.912,202) Net Worth 740.363,794 EFTA01114637 APO 1 AGREEMENT incl LDB 2011 LLC & LBF HOLDINGS LLC Balance Sheet SEPTEMBER 30, 2014 Assets Cash U.S. TRUST 8.014.471 JP MORGAN 8.169.910 CASH IN PHAIDON GLOBAL / PLB 180,244 16,364,625 BLACK FAMILY PARTNERS, LP Financial Investments MARKETABLE SECURITIES 3.048.760 APOLLO RELATED INVESTMENTS 35.259.265 _I INVESTMENT PARTNERSHIPS 15.126.670 OTHER PRIVATE EQUITY/ DEBT & RESTRICTED STOCK 463.944 53.898.639 Intra Family/ Trust Receivables DUE FROM LDB 1,686,834.486 DUE FROM BLACK FAMILY PARTNERS LP DUE FROM CHILDREN'S TRUSTS DUE FROM APO2 DECLARATION 78,953,512 1,765,787,998 Fine Art and Tangible Investments ART - FINE 256,887,166 Real Estate RESIDENCE - TOWNHOUSE. NYC 34.073.680 RESIDENCE - 715 MEADOW LANE, SH RESIDENCE - FL CONDO RESIDENCE - 101 WARREN STREET, NYC 34,073,680 Total Assets 2.127.012.108 Liabilities Third Party Liabilities ACCOUNTS PAYABLE (1,255,717) BALANCE PAYABLE - FL CONDO (1,255,717) Intra Family/ Trust Payables APO 1 AGREEMENT DUE TO BLACK FAMILY PARTNERS LP BLACK FAMILY PARTNERS LP (PHAIDON GLOBAL) (2,012,157) DUE TO CHILDREN'S TRUSTS (125,404,638) DUE TO LBF HOLDINGS LLC (127.416.795) Total Liabilities (128,672,512) Net Worth 1,998,339,596 EFTA01114638 BLACK ASSET SUMMARY - TRUSTS BLACK FAMILY SEPTEMBER 30, 2014 PARTNERS ASSETS CASH U.S. TRUST 18.169.948 JP MORGAN ..... . 1,766,394 CASH IN PHAIDON GLOBAL / PLB 19,936,342 BLACK FAMILY PARTNERS, LP AOG RELATED ITEMS: BRH HOLDINGS, LP (45.9%) - $23.84; 92,727,166 SHS 2,210,615,637 CONTINGENT RECEIVABLE FROM AFFILIATE 4...... 322.022.716 FINANCIAL INVESTMENTS MARKETABLE SECURITIES 1,692,175 APOLLO RELATED INVESTMENTS 70.042.348 OTHER PRIVATE EQUITY/ DEBT & RESTRICTED STOCK 65.055.785 INVESTMENT PARTNERSHIPS 98,221,719 235,012,027 INTRA FAMILY/ TRUST RECEIVABLES LDB 31,602,801 APO1 AGREEMENT APO2 DECLARATION RECEIVABLE FROM PHAIDON GLOBAL 13,494,946 45,097,747 FINE ART AND TANGIBLE INVESTMENTS ART - FINE REAL ESTATE RESIDENCE - TOWNHOUSE RESIDENCE - 715 MEADOW LANE, SH RESIDENCE - FL CONDO RESIDENCE - 101 WARREN STREET, NYC OTHER ASSETS HERITAGE RECEIVABLE 3,407,335 TOTAL ASSETS 2,836,091,804 LIABILITIES THIRD PARTY LIABILITIES ACCOUNTS PAYABLE BALANCE PAYABLE - FL CONDO INTRA FAMILY/ TRUST PAYABLES APO 1 AGREEMENT BLACK FAMILY PARTNERS LP BLACK FAMILY PARTNERS LP (PHAIDON GLOBAL) LBF HOLDINGS CHILDREN'S TRUSTS r TOTAL LIABILITIES NET WORTH 2,836,091,804 11/14/2014 EFTA01114639 BLACK FAMILY TRUSTS - GLOBAL SOURCES & USES OF CASH YTD thru 9/30/14 APO 2 TRUST + APO 1 TRUST + LDB 2014 LLC + BLACK FAMILY LDB 2011 + LBF TOTAL 2011 TRUSTS GST TRUST HOLDINGS BALANCE 12/31/2013 91.770,624 1,127,108 90,643,516 SOURCES: BFP Distributions 53,102,409 5,734,800 30,879,659 16,487,950 Investment Distributions 36,805,614 740,670 36,064,943 Note Related Activity (Net) 10,406,060 (9,921,442) 20,327,502 Bank 1,674 1.430 244 100,315,757 5,734,800 21,700,318 72,880,639 USES: Art (60,713,083) (5,985,377) (54,727,705) Art (Intra-family) [1] (43,347,525) (43,347,525) Real Estate (38,383,415) (4,223,114) (34,160,301) Internal (Net) (14,607,526) (138,466) (14,469,060) Investment Fundings (5,275,268) (5,060,439) (214,829) Taxes (Use/Real Estate) (432,214) (17,211) (415,003) Professional Fees (80,381) (68,347) (12,035) Miscellaneous (41,014) (40,609) (405) Trust Distrib - Children (14,000) (14,000) (162,894,426) (15,547,563) (147,346,863) Net Change (62,578,669) 5,734,800 6,152,755 (74,466,224) BALANCE 9/30/2014 29,191,955 5,734,800 7,279,863 16,177,292 [1] Narrows LLC acquired art & Trusts purchased from Narrows LLC [2] Distributed proceeds to Life Ins Trust #2 (12,500,000) (12,500,000) Inv proceeds received in PY transferred internally in CY (2,107,526) (520) (2,107,006) (14,607,526) (520) (14,607,006) EFTA01114640