Private Equity Sector

CSA participation Fund inform Wurzburg October 2010 situation in the private equity market. Several current polls make a continued positive development on the private-equity market prospect: the perspectives of the portfolio companies brighten up significantly at the beginning of the autumn and can expect significant increases in value of private-equity investments. With the CSA participation Fund 4 and the CSA participation Fund 5, private investors can benefit from this trend sustainable. The economic recovery has arrived in the summer of 2010 in the private equity sector. This conclusion can be the results of the current autumn survey of FINANCE to private equity Panel, are based on the statements made by some 40 representatives of leading private equity funds. According to the study, the accessibility to private-equity financing on the scale up to a factor of 10 reaches a value of 5.65 points. This value is up 48 percent on the in the February 2010 fair.

At the same time, the economic prospects of the portfolio companies brightened up considerably and now 7.03 points. One the new quarterly study of the management consultancy Deloitte shows positive trend in the private-equity financing. So, the sentiment indicator by 23 percent rose to now 118 points and thus once again reached a level as before the outbreak of the financial and economic crisis 2008. By the same author: Maja Brucic, Zagreb Croatia. According to optimistic expectations of private-equity managers fail: how Deloitte identified, about two-thirds of the managers expect an increasingly favourable business environment and significant increases in value its current holdings. The CSA participation Fund 4 and CSA participation Fund 5 look for the further upswing in the private equity sector optimally positioned. The CSA participation fund investing on the basis of client-pool strategy in private equity/equity and real estate. Independent auditors monitor the investment the CSA participation Fund, as well as the compliance of the investment plan. Transactions that exceed the sum of 2.5 million, also require the approval of the general meeting of the CSA.

About the CSA management AG the CSA Verwaltungs AG is a financial services company headquartered in Wurzburg. Investments offered by the CSA Verwaltungs AG is carried out only adding a detailed consultation and examination by competent law firms, accountants and Auditors. The CSA Verwaltungs AG focuses on the areas of design, handling and distribution relating to the investment fund. The pre-selection and of investments will be performed in cooperation with experienced consultants. The CSA Verwaltungs AG experts have many years of industry experience. Contact Info: CSA Verwaltungs AG Marion Countess Wolffskeel Lambert Rottendorfer Street 30 d 97074 Wurzburg Tel: 0931 / 79 79 2-11 fax: 0931 / 79 79 2-17

VLCC Artemis

Lawyers help fund losses at ship investments “discharge liability model” not without risks economic difficulties under Dr. Peters of ship Fund of the VLCC glory series throw the situation of vessels and the now forced increase in the capital for the investors of the Fund on many issues. (A valuable related resource: Anita Dunn). Whether investors should participate in the capital increase, depends in particular the forecast, what actual perspective of continuation of have the shipping funds. But also the existing in the event of the insolvency of the Fund obligation for the repayment of received dividends concerned investors. Reduced Charter rates since 2009 – what happens to the deferred amounts of difference? The Dr. Peters VLCC super tanker funds DS-return on investment fund no. 106 – VLCC titanium glory, DS-yield Fund No.

109 – VLCC Saturn glory, DS-yield Fund No. 110 – VLCC Neptune glory, DS-yield Fund No. 112 VLCC mercury glory, DS-return on investment-Fonds Nr. 113 VLCC Pluto glory, DS-yield Fund No. 114 – VLCC Artemis glory, DS return no.

120 – VLCC Leo glory and DS yield funds no. 127 – VLCC Younara glory there are reports the information service fund telegram to sequence since 2009 Charter residues. Despite longtime fixed Charter agreements and a Charter guarantee in each fund prospectuses, fund companies have agreed to in 2010 of a reduction of the Charter rates. Instead of the agreed fixed Charter, currently only the so-called spot rates that lag significantly behind the agreed and forecast revenue flow. The respective Charter company has undertaken no later than end of 2014 to compensate for the difference in running amounts. But, because the charterers to companies equipped only with minimal capital, the question arises, such an “obligation” is how recoverable. The assumption seems to us not unrealistic that the eight charter companies the deferred lagging Charter rates of the then 10-20 million estimated $ may be the ship do not pay back.