Rick Hendrix

Functions as real estate investment trust

Operates as a real estate investment trust

FBR Investment Management's (FBRIM) stock selection process seeks to identify stocks with the best earnings growth outlook that are selling at the lowest price-to-book and p/e multiples. Macroeconomic factors influencing sectors are also monitored. In general, FBRIM tends to invest in the stocks of US small- and mid-cap companies in the finance, retail and consumer services sectors. The firm maintains a low turnover rate. FBRIM manages hedge fund and private pooled investment vehicles employing three strategies. Their merger arbitrage/event driven strategy involves both long and short investing. Decisions are based on anticipated outcomes of company specific or transaction specific situations, such as corporate acquisitions, mergers, restructurings or share repurchase programs. They seek to realize price differentials between the current and expected future price of a security due to the occurrence of a merger, consolidation or similar event. FBRIM's long bias opportunity strategy involves taking primarily long positions in equity securities based on the portfolio manager's fundamental opinion of an underlying company's outlook and market valuation. In selecting particular securities, they consider factors such as the economic and political outlook, the outlook and market perception of the issuer's industry sector or sub-sector, the value of the issuer of the securities relative to other investment alternatives and the operating characteristics and quality of the business of the issuer. The firm's long/short value equity strategy involves taking both long and short positions in equity securities based on the portfolio manager's fundamental opinion of the underlying company's outlook and market valuation. The portfolio may be net long or net short and is typically be net market directional. In selecting particular securities on the long side, the portfolio manager considers factors such as the intrinsic value of securities relative to current price, strong cash earnings and exceptional balance sheet economics. On the short side, the portfolio manager seeks businesses with deteriorating balance sheets, high levels of debt and a dependency on the capital markets for value. FBRIM's private equity investment fund focuses primarily on companies providing innovation, technology, outsourced solutions and enablement to the financial services industry. In the venture capital area, FBRIM focuses primarily on growing technology and genomic-driven biotechnology and life science companies in the Washington, DC region and in the Pacific Northwestern US.

Provides brokerage services

Functions as a College/University

Crestview Partners invests in small and middle-market companies located in the United States. The firm targets companies operating in the fields of financial services, media, healthcare and industrial sectors. It provides financing for growth and buyouts transactions.

Provides investment banking services

Acts as Private Equity Fund

Operates as an independent investment bank