This e-mail (and any attachments thereto) is for the designated recipient only and may contain privileged, proprietary, or otherwise private information. If you are not the intended recipient of this email, you are hereby notified that any dissemination, distribution or copying of this email (and any attachments thereto) is strictly prohibited. Please immediately notify the sender that you have received this e-mail in error. Please then permanently delete the e-mail from your system and any copies of it. This communication does not constitute an offer to sell or a solicitation of an offer to purchase any interest in any investment vehicles managed by Valor Management Corp. or any of its affiliates (“Valor”). Valor does not provide tax, accounting, or legal advice to our clients, and all investors are advised to consult with their tax, accounting, or legal advisers regarding any potential investment.