Kahala Capital was formed by Bradley E. Smith in 2000. Prior to this, Mr. Smith worked
for five years at Bear Stearns in New York and Tokyo, where he was a Senior Managing
Director. In aggregate, Mr. Smith spent 20 years working in investment banking, primarily
at Bankers Trust, in that firm's New York, Tokyo, and Hong Kong locations. During his
career he has been involved in several high profile or complex leveraged and structured
finance transactions, some of which were notable for their size and innovation. Mr. Smith
also serves on the board of directors of Mariner-Tricadia Credit Strategies, Ltd.
and Tiptree Financial Partners, L.P.

Kahala Capital is also supported by several associates and partners who work with major institutional investors, banks, and corporations in addition to international business leaders.