EX-99.2 4 longterm.txt LONG-TERM MATRIX
Friedman, Billings, Ramsey Group, Inc. Long-Term Investment Matrix (1) As of December 31, 2001 (Dollars in thousands) The following chart shows the allocation of Friedman, Billings, Ramsey Group, Inc.'s long-term investments, as stated on the December 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, Limited Partnership $ 19,000 $ - $ 19,000 16.0% FBR Private Equity Fund, LP 91 1,787 1,878 1.6% FBR Future Financial Fund, LP - 867 867 0.7% FBR Financial Services Partners, LP 253 1,266 1,519 1.3% Direct investment 1,637 - 1,637 1.4% ------------- ------------ ------------- --------- 20,981 3,920 24,901 21.0% Real Estate/Mortgage FBR Asset Investment Corporation Direct investment 40,743 1,716 42,459 35.8% 3,198 243 3,441 2.9% ------------- ------------ ------------- --------- 43,941 1,959 45,900 38.7% ------------- ------------ ------------- --------- Subtotal 64,922 5,879 70,801 59.7% ------------- ------------ ------------- --------- Technology and Biotechnology FBR Technology Venture Partners, LP (2) 187 724 911 0.8% FBR Technology Venture Partners II 454 2,317 2,771 2.3% FBR CoMotion Venture Capital I, LP (3) - 1,780 1,780 1.5% DDL and related direct investments 76 5,567 5,643 4.8% Direct investment 73 - 73 0.1% Third-party partnerships 144 2,809 2,953 2.5% Other 86 - 86 0.1% ------------- ------------- -------------- --------- 1,020 13,197 14,217 12.1% Capital Crossover Partners 6,000 - 6,000 5.1% ------------- ------------ ------------- --------- Subtotal 7,020 13,197 20,217 17.2% ------------- ------------ ------------- --------- Debt ------------- ------------ ------------- --------- Direct investment (4) - 7,500 7,500 6.3% ------------- ------------ ------------- --------- Other Braddock Partners, LP 5,613 - 5,613 4.7% FBR Arbitrage, LLC 11,415 - 11,415 9.6% FBR Weston, Limited Partnership 2,138 189 2,327 2.0% Other 387 196 583 0.5% ------------- ------------ ------------- --------- 19,553 385 19,938 16.8% ------------- ------------ ------------- --------- ------------- ------------ ------------- --------- TOTALS $ 91,495 $ 26,961 $ 118,456 100.0% ============= ============ ============= =========
(1) Excludes trading securities inventory. (2) Amount is net of accrued Fund Manager Compensation expense ("FMC") of $157. Asset value before before FMC as of December 31, 2001 was $1,068. (3) Amount is net of loans of $1,369 made by FBR Group to FBR CoMotion Venture Capital I, LP. (4) Represents private debt of one issuer with a face amount of $7,500.