Ann: Half Yearly Report and Accounts including Appendix 4D, page-5

I did speak with the company and the details are confidential for now at the request of Fortress.
For what it is worth I have used 10% in my modelling. The HFRI Event-Driven Index (kind of where I think Fortress would pitch it) has returned about 11.5% but given our track record I would argue that this fund would have a lot less risk than the average event driven fund so 10%.

If we get anywhere near our historical level of 1.55 MOIC then management are right in what they say that we will generate a return many times larger than if we put the capital in. But its the optionality to scale this to 10x its size that shareholders should be focusing on. We could have never done that before or without this structure. I just hope we have backed the right horse with Fortress given their takeover status.