EX-99.4 5 dex994.txt EXHIBIT 99.4 Exhibit 99.4 Friedman, Billings, Ramsey Group, Inc. Long-Term Investment Matrix (1) As of March 31, 2001 The following chart shows the allocation of Friedman, Billings, Ramsey Group, Inc.'s long-term investments, as stated on the March 31, 2001 balance sheet, by sector and by managed fund and also shows the allocation of long-term investments in publicly traded and private securities. Managed funds are categorized by the value of the majority of their investments. In addition, from time to time, FBR Group implements risk management strategies, the value of which may not be included in the balance sheet line for long-term investments.
Financial Public Private Total --------- ----------- ---------- ---------- FBR Ashton, LP $ 16,596 $ - $ 16,596 14.3% FBR Private Equity Fund, LP 1,199 2,308 3,507 3.0% FBR Future Financial Fund, LP - 1,659 1,659 1.4% FBR Financial Services Partners 269 1,626 1,895 1.6% Direct investment 1,351 - 1,351 1.2% ---------- ---------- ---------- ----- 19,415 5,593 25,008 21.5% Real Estate ----------- FBR Asset Investment Corporation 27,935 4,699 32,634 28.0% Direct investment 3,572 - 3,572 3.1% ---------- ---------- ---------- ----- 31,507 4,699 36,206 31.1% ---------- ---------- ---------- ----- Subtotal 50,922 10,292 61,214 52.6% ---------- ---------- ---------- ----- Technology ---------- FBR Technology Venture Partners, LP (2) 768 5,045 5,813 5.0% FBR Technology Venture Partners II 598 3,214 3,812 3.3% FBR CoMotion Venture Capital I, LP (3) - 1,569 1,569 1.3% DDL and related direct investments - 5,791 5,791 5.0% Other direct investment 431 - 431 0.4% ---------- ---------- ---------- ----- 1,797 15,619 17,416 15.0% ---------- ---------- ---------- ----- Debt ---- ---------- ---------- ---------- ------ Direct investment (4) - 17,837 17,837 15.3% ---------- ---------- ---------- ------ Other ----- Braddock Partners, LP 4,920 - 4,920 4.2% FBR Arbitrage, LLC 10,769 - 10,769 9.3% FBR Weston, LP 1,569 - 1,569 1.3% Third-party partnerships - 1,483 1,483 1.3% Other 145 955 1,100 1.0% ---------- ---------- ---------- ----- 17,403 2,438 19,841 17.1% ---------- ---------- ---------- ----- ---------- ---------- ---------- ----- TOTALS $ 70,122 $ 46,186 $ 116,308 100.0% ========== ========== ========== =====
(1) Excludes trading securities inventory. (2) Amount is net of accrued Fund Manager Compensation expense ("FMC") of $576. Asset value before FMC as of March 31, 2001 was $6,389. (3) Amount is net of loans of $1,933 made by FBR Group to FBR CoMotion Venture Capital I, LP. (4) Represents private debt of two issuers with a face amount of $10,337 and $7,500 respectively.