Falcone, Philip Alan of Harbert Management Corporation

Philip Alan Falcone of Harbert Management Corporation

Philip Alan Falcone

Media Releases

March 2014 Bloomberg article entitled “Harbinger’s Falcone Wasted Assets, Investor Says in Suit”

September 2013 Reuters article entitled “Judge OKs SEC’s Falcone settlement with admission of wrongdoing”

August 2013 Bloomberg article entitled “Falcone Agrees to SEC Securities Ban, Admits Wrongdoing”

August 2013 Bloomberg article entitled “Harbinger Sues Deere, Garmin Over GPS Products Spectrum”

May 10, 2013 Bloomberg article entitled “Falcone Agrees to Two-Year Hedge-Fund Ban to Settle SEC Lawsuit”

December 2012 Insider Monkey post entitled “Harbinger plans $650 Million Refinancing”

October 2012 NY Times Dealbreaker articles entitled “Sleep where Phil Falcone hath Slept” & “Phil Falcone will borrow Millions of Dollars from any Gated Investor Fund He Pleases”

August 2012 NY Times Dealbreaker article entitled “Phil Falcone is Turning his Life Around”

August 2012 Business Insider article entitled “Phil Falcone’s Harbinger Capital Had A Killer Summer Thanks To His Bet On His Own Publicly Traded Company

July 2012 Forbes article entitled “Amid SEC Charges, Hedge Fund Manager Phil Falcone Attempts Audacious IPO”

June 2012 Bloomberg article entitled “Falcone Said to Face Lawsuit From Regulators Over Loan”

Wall Street Journal news, articles & biography regarding Phil Falcone

March 2011 NY Times Dealbreaker article entitled “65 Alternative Investment Managers on Forbes Richest Billionaires List”

2011 Business Insider article entitled “The Hottest Hedge Fund Wives On Wall Street”

Wikipedia Profile

Forbes Profile

A March 2009 article reveals that Harbinger Capital Partners, run by Philip Falcone, reportedly proposed lower management and incentive fees if investors agree to have their money tied up for two years rather than one.

March 2009 – Harbinger Capital was first to declare a short position in HSBC following the bank’s record rights issue, after making more than £300m from a similar tactic with HBOS last year. Harbinger had on Monday taken a short position in HSBC shares, worth about £110m. Any gains so far from this trade are likely to be modest, but its head, Philip Falcone, has won big at the races before on such flutters. Harbinger has also taken short positions in Spanish banks, including one for 0.4 per cent of Santander, the owner of Abbey National. Mr. Falcone was one of five hedge fund managers quizzed by US lawmakers last November.

A March 2009 article reveals that “hose who have met Falcone recently say he is undaunted by the current state of resources markets and remains a true believer in the logic of the super-demand cycle.”

A March 2009 article reveals Falcone and Harbinger’s positions in several companies including, Fortescue Metals Group Ltd., Island Sky Australia Ltd., Poseidon Nickel Ltd., and Po Valley Energy Ltd.

A March 2009 article reveals “Philip Falcone of Harbinger Capital Partners, put his money behind a Republican in the form of Rudy Giuliani, who later refunded the donation.”

The managing member of Harbinger Capital Partners LLC is Harbinger Holdings, LLC, which is in turn controlled by Philip A. Falcone.

March 2009 – China’s Sinosteel lifted its holding above 5 per cent to become the third-biggest shareholder. Sinosteel is now third on the register, behind Philip Falcone’s Harbinger Capital on 19.8 per cent and Korean steel giant Posco on 12.3 per cent

February 2009 – Tate & Lyle lost another 200BE, p to 27100BD, p amid increasing signs that investor Philip Falcone of Harbinger, the hedge fund, is looking to sell. There has also been speculation that hedge fund Harbinger Capital, which is run by Philip Falcone, may be forced to sell its large stake in the company following redemptions. The rumors have weighed on the share price in recent months.

A February 2009 article reveals that Philip Falcone has been an outspoken activist investor and has in the past called for management shakeups at The New York Times Co. and Media General, two of its other substantial holdings.

January 2009 – The past few months have been hard on Harbinger Capital Partners and its founder, Philip Falcone. After a good start to the year (it was up more than 40 percent through June), the New York–based hedge fund firm gave up those gains. Falcone’s main fund dropped 17.9 percent in September alone, leaving it down 5.4 percent on the year. Over the summer Falcone lost money going short financials and long energy, a common trade that cost many hedge funds dearly when it reversed in July.

A January 2009 article refers to Philip Falcone as a “and a long-time backer of [mining magnate Andrew Forrest]” The article also reveals Harbinger ahs a 17 per cent stake in Po Valley, which was previously run by Mr. Forrest.

January 2009 – At last, some respite for those poor beleaguered hedge funds from the Financial Services Authority, which says it will drop its ban on short selling financial stocks later this month. The concession can’t come soon enough for some in the sector. Take Philip Falcone of the US hedge fund group Harbinger, below. Publicly excoriated for making pots by selling HBOS short last year, Mr. Falcone’s fortunes have since taken a turn for the worse. So much so, he has now had to put limits on investors’ withdrawals from his biggest fund.

“We are believers in Calpine’s business model and like their long-term prospects,” said Harbinger Capital Partners Senior Managing Director Philip A. Falcone. “We are a committed shareholder and may look to add to our position over time.” Mr. Falcone commenting on the January filing by Calpine Corporation of an amendment to its Form S-3 Registration Statement with the Securities and Exchange Commission as it successfully emerges from bankruptcy.

December 2008 – Harbinger Capital Partners run by Philip Falcone, is restricting redemptions in its $10 billion Harbinger Capital Partners Master Fund to 60 percent to 70 percent of the $3.5 billion requested by investors. The fund is down 23 percent for the year through November, although at the end of June it was up 43 percent for the year, according to Bloomberg. Harbinger will also separate the fund’s private equity holdings, which make up about 15 percent of assets, into a segregated account to avoid selling them at distressed prices.

A an article dated 11.13.2008 writes, “George Soros of Soros Fund Management, John Paulson of Paulson & Co, Ken Griffin of Citadel Capital, James Simon of Renaissance Technologies and Phil Falcone of Harbinger Capital are testifying today at the House Committee on Oversight and Government Reform hearings. They are discussing the role of hedge funds in the financial crisis and whether hedge funds should be regulated.” See attached document for Mr. Falcone’s complete testimony which is also included in the media section below.

Harbinger Capital, the activist New York hedge fund run by Phil Falcone, fell 17.9% in September and is down 5.4% in the first nine months of 2008. This contrasts with a 116% gain in 2007 following a correct strategy against subprime mortgages. According to a letter to investors last month, leverage has been cut. Harbinger managed around $21 billion at the beginning of August.

A September 2008 article reveals that the Forbes list of the 400 Richest Americans includes Philip Falcone at #163, while Trader Monthly listed him at #2 in a list of the highest earning fund managers.

Harbert Management was founded in 1949 by John Harbert. The company began as a construction firm that eventually transitioned into a money management firm. Raymond Harbert, John Harbert’s son, now runs the company. The company was founded after John Harbert won $6,000 in crap game sailing home from WWII. He used the money to buy a concrete mixer and started a construction company. Harbert Management went on to carve out a niche in high-risk enterprises such as buying Tennessee and Kentucky coal in the 1960s and oil stock during the energy crisis.

Possible detrimental information found, however it might be due to the nature of the investment strategy adopted by Mr. Falcone.

An August 18, 2008 article states that Harbinger bought a large stake in Media General and The New York Times Co. earlier in 2008 and negotiated seats on their board of directors by threatening proxy fights. This article addresses recent rumors that Harbinger would try a similar move with Cablevision Systems Corp., in which they hold a minority stake.

An August 17, 2008 article states that Philip Falcone – who reportedly made $1.7 billion in 2007 – paid $49 million in February to purchase Penthouse publisher Bob Giccione’s townhouse at 14 East 67th Street. The residence is five stories with 27 rooms. The article states that Mr. Falcone and his wife’s potbellied pig Pickles has its own room.

A July 25, 2008 article states that Harbinger Capital Partners Funds agreed to provide $500 million of debt financing to SkyTerra Communications, Inc. and Mobile Satellite Ventures, LP.

A July 23, 2008 article states that Harbinger Capital Partners bought the 30th and 31st floors of 450 Park Avenue and will rent the office space for what sources state is close to the building’s asking price of $180 per square foot.

A July 2008 article discusses Mr. Falcone’s childhood. He was the youngest of nine, described as a “quiet, inquisitive kid with a sheepish grin”. He was a standout hockey player, nicknamed “the phantom” for “his uncanny ability to cruise – untouched – legs barely pumping, past defenders”. His father walked out on the family, leaving Mr. Falcone’s mother to raise nine children on an 80-cent-an-hour job at a shirt factory. Mr. Falcone’s hockey skills brought him to Harvard University, where he played center on the varsity hockey team. He later played professional hockey in Sweden for a year until his sports career ended due to a thigh injury. In 1990 Mr. Falcone teamed with a friend from Harvard to acquire AAB Manufacturing, which turned out to be a huge failure, resulting in Mr. Falcone’s bank accounts being frozen and the lights in his apartment shut off. This article also states that his 27-room mansion features an indoor pool, solarium and theater. He also owns a minority stake in the NHL team Minnesota Wild. Despite all of his success, Mr. Falcone insists that money does not define who he is.

A June 2008 article reveals that Philip Falcone’s Harbinger Capital Partners has taken a sizable 3.29% short position, worth an estimated $670 million in HBOS, the UK’s biggest mortgage lender.

A May 2008 BusinessWeek article dubbed Philip Falcone the “Midas of Misery” for his success in “snapping up troubled assets in bankruptcy, shorting distressed bonds, and using huge stock positions to agitate for change at under performing companies”.

An April 2008 article states that Philip Falcone tied James Simons (of Renaissance Technologies Corp.) as the second-highest paid trader on Wall Street. Henry Paulson ranked first.

A March 2008 article states that the “Manhattan mansion where soft porn publisher Bob Guccione used to cavort with his Penthouse Pets has been sold to hedge fund supremo Philip Falcone”. The article states that the property features a “massive, shimmering Roman-style pool”, along with a wine cellar, garden with greenhouse, ballroom, 11 bathrooms and four bedroom suites, including a massive master bedroom covering an entire floor.

In a January 2008 article, Mr. Falcone denies that Harbinger Capital Partners’ plan to nominate its own members to Media General Inc.’s board of directors “was neither hostile nor ill-advised as characterized”. Mr. Falcone made these remarks in a letter sent to Marshall N. Morton, Media General’s president and chief executive. The letter was also filed with the SEC.

In November of 2007, it was noted that Harbinger Capital Partners would buy Calpine Corp’s bankruptcy claim against Solutia Cor, for $135.5 million. Harbinger was the top bidder at an auction overseen by a US bankruptcy judge in New York.

A September 25, 2007 article states that Harbinger Capital Partners sold a tenth of its GeoEye holdings.

A May 11, 2007 article states that Harbinger Capital Partners was taking a more active approach to DHB Industries.

An April 2007 article states that the Harbert Merger Arbitrage and Event Driven Fund began investing on an in-house fund in December with $25 million from Harbert Management. The fund is run by Neil Kennedy and John Frank.

A March 16, 2007 article states that Harbinger Capital – along with Paulson & Co. and Kensico Capital Management – was one of a few hedge fund managers that made money from the “surge in subprime mortgage defaults”.

In 2006, market watchers reported that Philip Falcone and Raymond Harbert were buying big in Fortescue using Patersons Securities, after a week in which the stock price sagged.

In 2006, Harbinger Capital Partners were attempting to merge two struggling companies that they were heavily invested in. The companies were Salton Inc., and Appilca Inc. Appilca Inc. agreed to be acquired by Harbinger for $6 a share. Harbinger held a stake in Salton.

In 2006, Northwestern Corporation told its largest stockholder, Harbert Distressed Investment Master Fund, “that efforts to communicate with other shareholders to vote in a new board would not trigger a poison pill.” Harbert was taking action because it was “profoundly dissatisfied” with Northwestern’s tactics to rebuff negotiations with Black Hills Corporation on its proposal to merge. Harbert also accused the Northwestern board of “manipulating the corporate machinery to protect its own interests.”

From a Nov. 2005 article: Falcone manages the Harbert Distressed Investment Fund, a $3 billion hedge fund in New York. He started the fund in June 2001. Falcone’s a master rebound investor. He specializes in finding companies that are massively undervalued due to bad press or scandals: issues that don’t really affect the company’s core business. And 2001 was a great market for this type of investing. Since the fund’s inception in June 2001, Falcone has shown investors returns of 101%.

An August 2005 article reiterates the conflict (between Harbert and affiliate Calpine) mentioned in the earlier articles, as Mr. Falcone sums up his view of the situation, commenting, “it is not over yet.”

Two May 2005 articles comment on the disagreement between Harbert and affiliate Calpine, and the accusation of improper use of funds.

An April 2004 article announced that Harbert Management put forward a loan that brought company General Chemical Products, Inc. out of bankruptcy in March of that year.

A July 2002 article mentions that Harbert Capital is a private equity firm managed by Philip Falcone. It says that its assets were up by 14.2% from just the year before. It also mentioned it was planning on launching a convertible arbitrage fund to be managed by Jeff Parket and Mitch Thaw that following fall.

Another July 2002 article comments that Harbert’s primary focus is on turnarounds, restructurings, liquidations, and even driven situations from trading long and short public debt securities.

A link in the media section leads directly to Harbert’s company website, wherein there is a bio and photo of Mr. Falcone.

A media article estimates Philip Falcone’s annual income at between $40-50 million.

A media article boasts of Harbert’s success, saying that their “clients are the beneficiaries of over 50 years of property ownership, development and management experience.” It also says that they have combined assets in excess of $1.4 billion.

http://www.harbert.net/company/about-hmc/ is the company website for Harbert.

http://www.harbert.net/distressed-event-special-situations/investment-team/ is the company website for Harbinger.

Philip Falcone donated $2300 to Friends of Rahm Emanuel in May 2008 and $28,500 to the Democratic Senatorial Campaign Committee in June 2008. In 2007, he donated $4600 to Christopher Dodd, $2300 to Friends of Dick Durbin Committee, $2300 to Citizens for Arlen Specter, $2300 to Rudy Giuliani’s presidential campaign, and $2300 to Team Sununu (Senator John Sununu).

Colberg, Craig Farnham of Rivanna Capital, LLC

Craig Farnham Colberg of Rivanna Capital, LLC

Media Releases

May 2003 – Richmond Society of Financial Analysts offers a panel discussion, “Hedge Funds,” at 4:30 p.m., The Downtown Club, Riverfront Plaza, West Tower, 20th floor. Participants: Tom Hill with New Generation, Craig Colberg with Rivanna Capital, John Davenport with Priority Capital and Chip Whitman with Shockoe Capital.

Craig Colberg started swimming at the age of 7 and showed championship ways soon afterward. In high school, where he was captain of the swim team, Colberg was at 16 ranked #1 in the U.S. in the 15 to 17-year age group in the 55-yard free style. At his undergraduate alma mater, Dartmouth college, he was swim team captain, an All-American, and recipient of Dartmouth’s Glover Award for outstanding contributions to the team.

July 1984 – With the dollar spurting to record highs against most of the world’s major currencies, Americans overseas are enjoying a salary windfall: In many Western countries, housing, food and travel are, at the moment, substantially cheaper than at home. But the dollar can trade both ways. “It’s great living at $1.32″ to the pound, said Craig Colberg , an institutional stockbroker for Goldman Sachs International who has lived in London for five years, “but I was here at $2.46 and it was no fun then. Housing then was astronomical compared to New York.”

Linsley, David of Cross Asset Management, Ltd.

David Linsley of Cross Asset Management, Ltd.

Media Releases

David Linsley founded Cross Asset with Roddy Campbell in 1998. Located in London, the firm manages arbitrage and event-driven strategies in corporate equity and credit markets, specializing in Europe.

David is quoted in a few investment articles as the director and chief executive of Cross Asset. In one July 2003 article, he criticised funds of hedge funds, claiming many have a poor understanding of the products.

Campbell, Roderick Hugo of RAB Capital, PLC

Roderick Hugo Campbell of RAB Capital, PLC

Campbell, Roderick Hugo

Media Releases

Roddy Campbell is set to speak at the 2009 Hedge Funds World Middle East 2009 conference held in Dubai on March 10-12.

Mr. Campbell served as one of four strategists at the HFR Industry Summit: Mid-Year 2008.

According to a “genealogical survey of the peerage of Britain as well as the royal families of Europe”, Roderick Hugo Campbell, son of Hon. Neil Donald Campbell and Angela Louise Vereker Cross, married Sophie Louise Hicks, daughter of Richard Hicks, in 1988. The couple has three children: Arthur Frederick Campbell, born in 1988; Edie Blanche Campbell, born in 1990; and Olympia Louise Kathleen Campbell, born in 1995. This family profile states that Mr. Campbell was educated at Eton College. According to a June 1996 Vogue article, Sophie Hicks is an architect, having formerly worked as a fashion editor. She runs S.H. Architects Ltd. in London. Pictures of the couple and their children can be viewed at http://www.sophiehicks.com/press/vogue/vogue_01.htm.
Roddy Campbell served as a speaker at the 4th Annual Global Absolute Return Congress held in Boston (USA) in October 2006.

An April 2006 company announcement stated that Roderick Campbell resigned as a director of Cross Europe Fund Ltd. effective February 17, 2006.

A June 2005 article announced that RAB Capital agreed to acquire Cross Asset Management. Roddy Campbell received 6.7 million pounds in the deal, and his partner David Linsley received 2.4 million pounds. The article describes Mr. Campbell as “one of the best event-driven managers in the business”.

A June 2005 article quotes Mr. Campbell, saying that there is a “general weirdness” surrounding the company Regal Petroleum.

A May 2005 article quotes Mr. Campbell regarding the fact that “hedge funds have made only one vaguely hostile move in Germany, which was at the Deutsche Borse.”

An April 2005 article lists Roddy Campbell as a speaker at the EuroHedge Summit that was held in Paris.

An April 2005 article says that Roddy Campbell, while at a fundraising event, schmoozed with celebrities like Elle McPherson, among others.

An August 2004 article quotes Roderick Campbell regarding the use of the “black box” system, which produces data from which market trends are predicted.

A February 2003 article states that the Cross Credit Fund was set to launch in March 2003, with an aim to initially raise $50 million and close at $200 million.
Roddy Campbell founded Cross Asset with David Linsley in 1998. Located in London, the firm managed arbitrage and event-driven strategies in corporate equity and credit markets, specializing in Europe.

Roderick Campbell is quoted in a number of investment and equity articles as the manager of Cross Asset.

Roddy Campbell wrote a chapter in the book Evaluating and Implementing Hedge Fund Strategies: The Experience of Managers and Investors, 3rd edition. He has also spoken at a number of conferences and been on several panels.

Roddy Campbell ran Iliad Partners, one of Europe’s first hedge funds in the 1980s.

Bauer, Jon R. of Contrarian Capital Management, LLC

Jon R. Bauer of Contrarian Capital Management, LLC

Media Releases

Jon Bauer is listed as a director of Harvard Industries. Contrarian Capital Management is a 32% shareholder with the company. Jon has been a founding partner there since 1995 and became a director at Harvard in 1998.

Jon left Oppenheimer in 1995 to form Contrarian.

Jon Bauer and Mike Singer of Argo Partners were instrumental in forming the Trade Claim Buyers Association.

September 2003 – Contrarian has brought on board Steven Czech, who headed up Credit Suisse First Boston’s mezzanine finance group, said managing partner Jon Bauer, in a statement. Czech will be responsible for building the direct lending business, which is targeting 12-18% annual returns.

Jon is quoted in several investment articles.

Jon Bauer is on the Board of Directors for Oxford Automotive Aps.

Contrarian Capital Management publicly called for the sale of Integrated Alarm Services Group Inc.

Contrarian Capital Management became the biggest investor in the George Foreman Grill in 2005.

In 2006, Contrarian Capital owned 7.1% of International Coal Group’s equity.

In 2006, Contrarian Capital Management owned 13% of Integrated Alarm Services. The company was evaluating strategic alternatives that included selling or merging the company.

Contrarian Capital Management controls 1.9 million of Hollywood Entertainment Corp stock. The company owns the Hollywood Video rental chain. In 2004 Contrarian sent a letter to Hollywood’s board discouraging the proposed management buyout of Blockbuster Video. Hollywood Entertainment Corp. was instead acquired by Movie Gallery Inc., with Contrarian profiting roughly $25 million from the sale. Due to the high amount of debt (from Hollywood Entertainment) acquired by Movie Gallery Inc. in this deal, Movie Gallery was forced to file for bankruptcy in October of 2007.

Contrarian Capital Management and Atticus Capital LLC were the ad hoc committee for non-insider equity holders of Ultimate. They tried to receive some recovery. Ultimate filed Chapter 11 in January 2005 and the non-inside equity holders were wiped out.

Contrarian Capital is an institutional holder in Terra Industries Inc, PMA Capital Corp, Rite Aid Corporation, Arch Wireless, Huntway Partners LP.

Contrarian has been involved in the bankruptcy proceedings and restructuring of USG Interiors, Inc., Service Merchandise Co, Horizon Natural Resources, Edison Brothers Stores Inc., Metallurg, Inc., and Stuart Entertainment, Inc.

More information was found on the civil case Contrarian and Angelo Gordon filed against Burns Philip in 1999. In June of that year they alleged that they had not used their best endeavors to complete their recapitalisation. The case was dropped after shareholders re-approved a debt reduction scheme. The two companies were owned $60 million and held about 8% of Burns Philip.

Some articles mention Contrarian with regards to investments in distressed securities.

Media reports indicate that Mr. Bauer is a on the Board of Directors of the following companies: International Coal Group, Inc. (former Director, member of Audit Committee and member of Nominating & Corporate Governance Committee); Arpeggio Acquisition Corp. (former Director), Harvard Industries Inc. (Director) and Rhapsody Acquisition Corp. (Director).

Majors, William Franklin (goes by Frank) of Nephila Capital, Ltd.

William Franklin (goes by Frank) Majors of Nephila Capital, Ltd.

Media Releases

An article from the Nephila company website provides a bio on Mr. Majors, including prior employment, affiliations, and education information.

An article confirms in grid form that Frank Majors is the managing principal of Nephila Capital, Ltd. It also lists contact info for the company and Mr. Majors.

Within the Nephila Capital website there is also a summary written for the company itself. It mentions the company’s previous name, Willis Asset Management, and well as states their main strategy, which is insurance-linked securities, catastrophe (cat) bonds, insurance swaps, and weather derivatives.

Nephila has been managing funds since April 1998, according to an August 2006 interview with Barney Schauble. Also according to this interview, Nephila has two mainstream funds and a number of other vehicles that are more specialized. The two flagship funds have been in existence since 1998 and 2001.

William F. Majors was mentioned in a May 2001 SEC filing for Willis Group Holdings Ltd.

A September 2003 article says that Frank Majors runs Willis Catastrophe Fund, LP, and that he “uses fine-tuned models to determine exactly how much damage a natural catastrophe even might cause in dollar terms.”

An April 2005 article comments that Frank Majors and Greg Hagood founded Nephila Capital in 1997 as part of insurance broker Willis Group Holdings Ltd.

Another April 2005 article mentions that Nephila Capital, along with companies like CooperNeff of BNP Paribas deal with bonds that cover hurricanes and earthquake risks.

A January 2006 article reported that Nephila has just a dozen employees. It’s named after the genus of a spider that, according to Bermudian folklore, can sense approaching hurricanes.

Among the companies that list Nephila Capital, Ltd as a partner in a February 2006 NYS register of securities offerings are Burnaby Catastrophe Fund LP, Nephila Catastrophe Fund LP, Nephila Catastrophe Fund Ltd, Nimbus Weather Fund LP, Palmetto Catastrophe Fund LP and Triton Fund LP. These businesses are located in Bermuda.

In November 2006 it was reported that Nephila Capital was a big winner on catastrophe bonds, due to the quiet hurricane season.

Hagood, Gregory Paul of Nephila Capital, Ltd.

Gregory Paul Hagood of Nephila Capital, Ltd.

Media Releases

Mr. Hagood is quoted in a number of articles as managing director of Nephila Capital and Willis Corroon Catastrophe Fund. He had joined Willis from Bear Stearns.

A November 2001 article includes comments from Greg Hagood saying that insurance losses caused by the terrorist attacks the previous September have created new opportunities in the catastrophe bonds business.

An article from the Nephila Capital company website includes a bio on Mr. Hagood, including previous employers, affiliations, and education history.

A media article from 2002 lists Mr. Hagood as a participant in the Risk-Linked Conference held in the spring of 2002. This article also includes a photo of Mr. Hagood.

An article shows in grid form that Greg Hagood is the executive directory of Nephila Capital, Ltd. Contact information for Mr. Hagood is also shown.

A March 2003 article lists Mr. Hagood as a panelist participating in The Bond Market Association’s Third Annual Risk-Linked Securities Conference.

A September 2003 article shows Mr. Hagood referencing Hurricane Fabian and Hurricane Isabel in regards to way it is affecting the catastrophe markets, Nephila’s specialty.

A February 2005 article has Mr. Hagood commenting on the pluses of being in the catastrophe bond business.

An April 2005 article comments that Frank Majors and Greg Hagood founded Nephila Capital in 1997 as part of insurance broker Willis Group Holdings Ltd.

An October 2005 article shows Greg Hagood talking about the affect of Hurricane Katrina on the catastrophe bond market.

A January 2006 article reported that Nephila has just a dozen employees. It’s named after the genus of a spider that, according to Bermudian folklore, can sense approaching hurricanes.

In November 2006 it was reported that Nephila Capital was a big winner on catastrophe bonds, due to the quiet hurricane season.