John Phelan

MSD Capital, LP was formed in 1998 to exclusively manage the capital of Michael Dell and his family. MSD is an investment firm primarily focused on the following investment activities: investing in publicly-traded securities; engaging in traditional private equity activities; investing in real estate; and selectively forming partnerships with established third-party managers in the private and public markets. MSD Capital has been organized to engage in a broad range of investment activities and its primary objective is to build an investment portfolio focused on long-term capital appreciation. The firm may invest in both U.S. and foreign securities. In addition to investing in securities directly, MSD's Partnership Investments group invests in a select number of investment partnerships across a variety of investment disciplines and asset classes, including hedge funds employing specific public equity and fixed income strategies, private equity funds, and real estate. The firm's Private Equity Group typically invests $100 million to $250 million in equity per transaction, but will consider larger or smaller opportunities depending on the particular investment profile. MSD Capital's team of approximately 80 people operates from the firm's offices in New York, Santa Monica and London.