Z Capital has substantial administration and systems capabilities. The members of the Administration group have significant fund accounting and reporting experience and employ industry best practices.

Z Capital also has an industry leading proprietary information system ZAPP™(Patent Pending), developed over many years by ZAPP Systems, L.L.C. (Z Capital Affiliate) that supports all facets of the organization including accounting, financial reporting, investor relations and fund management process (i)identifying and tracking potential transactions, (ii) analyzing and executing transactions, (iii) managing and monitoring portfolio companies' operating performance and (iv)archiving substantial industry and firm-specific information for research and analysis purposes.

Jonathan Schmugge, C.P.A., Managing Director - Chief Financial Officer
Mr. Schmugge is a Managing Director and the Chief Financial Officer of Z Capital, and is responsible for all aspects of Z Capital’s accounting and financial reporting. Prior to joining Z Capital, Mr. Schmugge was the former Chief Financial Officer and Chief Accounting Officer of Black Diamond Capital Management, L.L.C. (“BDCM”) where he was responsible for all aspects of BDCM’s financial reporting, tax filings and accounting. During his ten-year tenure with BDCM, Mr. Schmugge managed an accounting department of substantial size with responsibility for all of BDCM’s hedge fund and distressed debt/private equity investments. Mr. Schmugge has extensive experience in the accounting, finance and operations of privately-held investment management companies. Prior to joining BDCM in March 1997, Mr. Schmugge was a fund accountant with Oppenheimer & Co., Inc.’s (“Oppenheimer”) hedge fund accounting department where he was responsible for daily valuation and monthly reporting for several of Oppenheimer’s hedge funds. Prior to joining Oppenheimer in May 1996, Mr. Schmugge was a fund accountant for Appaloosa Management, L.P. (“Appaloosa”), where he was also responsible for accounting for Appaloosa’s management company.

Mr. Schmugge received his B.B.A. in Public Accounting from Hofstra University. Mr. Schmugge received his CPA in 1995.

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Angela G. Selzer, C.P.A., Controller
Ms. Selzer is the Controller of Z Capital's managed funds and is responsible for the funds' accounting and financial reporting. Prior to joining Z Capital in August 2007, Ms. Selzer was an Audit Manager at Deloitte & Touche LLP serving its finance and investment management clients in the Chicago office. Ms. Selzer's client base at Deloitte included the following companies: Banking and Finance Institutions, Discover Financial Services, Morgan Stanley Credit Corporation, Orchard Asset Management and Deerfield Capital Management LLC; Investment Companies, Strategic Investment Management, Strategic Fixed Income, LLC, Citigroup Global Markets, Inc., Samaritan Asset Management Services, Nuveen Asset Management, Banc One Management, Sciens Investment Management, LLC, Eckhardt Trading Company, Mercantile Asset Management, Jayhawk Capital Management, LLC.

Ms. Selzer was previously an Associate Auditor at Arthur Andersen, LLP from 2000 to 2002 serving both private and public companies within the finance and investment company industries.

Ms. Selzer received her Bachelor of Arts degree in Accounting & Business Administration (Concentration: Finance) from Augustana College.

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Conor O’Grady, C.P.A., Controller
Mr. O’Grady is a Controller for Z Capital and is responsible for accounting and financial reporting of Z Capital and its’ managed funds. Prior to joining Z Capital in July 2011, Mr. O’Grady was the Hedge Fund Controller at Black Diamond Capital Management, L.L.C. where he was responsible for the review and preparation of monthly financial information. This included fund allocations, financial statements; investor capital accounts/reporting packages, investment valuation and determination of NAV, as well as several other responsibilities.

Mr. O’Grady was previously a Senior Auditor at Deloitte & Touche LLP from 2003 to 2008 specializing in the Insurance and Investment Management industries.

Mr. O’Grady received his Bachelors of Science degree in Accountancy from University of Illinois at Urbana-Champaign (College of Business).

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Hang Yuan, Chief Information Officer
Mr. Yuan is the Chief Information Officer of Z Capital and is responsible for the creation and implementation of proprietary systems to support portfolio and risk management. Mr. Yuan has over 10 years of experience in developing distributed client-server applications to solve complex business problems primarily within the financial services industry. Mr. Yuan's experience spans an array of technologies including object-oriented technologies, .NET, C#, C++, Java, CORBA, SQL, Sybase, UML, TIBCO, UNIX.

Mr. Yuan's prior experience includes several years at Goldman Sachs, Magic Trade, and Progeny Incorporated as a software engineer. At Goldman Sachs, Mr. Yuan was responsible for business requirement evaluation and design, development and testing of systems for various proprietary trading desks primarily utilizing C++. At Magic Trade, Mr. Yuan was responsible for trading system design, implementation, configuration, and testing and developed multi-thread trading components.

Mr. Yuan has a Bachelor's degree in Nuclear Physics from Fudan University, a Masters degree in Distributed Systems from DePaul University and a Masters degree in Engineering Physics from South Dakota State University.

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Ying Hu, Software Engineer
Ms. Hu is a Software Engineer of Z Capital and is involved in all facets of software design, development, testing and documentation.

Ms. Hu was previously a software engineer at ASAP where she was involved in the design and implementation of e-commerce websites and window's desktop application with .NET technology. Prior to joining ASAP, Ms. Hu was with Deloitte & Touche LLP where she was a software developer for web applications.

Ms. Hu has a Masters degree in Mathematical Computer Science from University of Illinois at Chicago and a Bachelor's degree in Architecture from TianJin University. Ms. Hu has Microsoft Certified Application Developer (MCAD) and Java certification and is currently in process of pursuing CFA designation.

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Maxine Wang, Software Engineer
Ms. Wang is a Software Engineer of Z Capital with 13 years of experience and is proficient in ASP.NET, C#.NET, VisualBasic.NET and SQL Server Database as well as others. Ms. Wang comes to us from Ansira Inc and was a member of their software developer team.

Prior to this position she was in various software developer positions in consulting, telecom and financial services. She has a B.S. in Chemical Engineering. Xiangtan Univestity -Hunan, China and a M.S. in Civil and Environmental Engineering, Hokkaido University, Sapporo, Japan. She is fluent in English, Chinese and Japanese.

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Loyd D.M. Bailey, Network Engineer
Mr. Bailey is the Network Engineer of Z Capital and is responsible for network implementation, monitoring, reporting and support for all company systems and users.

Mr. Bailey's prior experience includes 4 years at Black Diamond Capital Management, L.L.C.("BDCM") as a network consultant, 9 years at Baxter/Allegiance where he was a network engineer, 5 years at Uline shipping supplies where he was a network administrator, 4 years at CFM corporation where he was a network administrator and 12 years at U.S. Navy as a gunner's mate technician.

Mr. Bailey has certificates of "Instructor, JobCode, 9502/0891", Cisco Works, Cisco CINC, Dell certified Specialist.

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Nicole M. Brock, Associate Director
Ms. Brock is an Associate Director of Z Capital and has responsibility within financial management and investor relations.

Prior to joining Z Capital in March 2010, Ms. Brock was a member of the management team at Black Diamond Capital Management, L.L.C. (“BDCM”) where she was responsible for the financial management of various funds as a senior member of the financial management team. During her eleven-year tenure with BDCM, Ms. Brock led various initiatives including fund liability management, valuation of investments, cash management, and the closing and settlement of par and distressed investments.

Prior to her tenure at BDCM, Ms. Brock was in a senior business development role within the hospitality industry.

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