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  Trapeza Capital Management, LLC

RFFM operates Trapeza Capital Management, LLC (Trapeza) through a joint venture with a third party. Trapeza is the leading independent manager of trust preferred and subordinated debt securities issued by banks, thrifts, insurance companies, REITs and real estate operating companies. As of December 31, 2011, Trapeza and its affiliates managed $3.9 billion in CDOs.

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