EX-99.2 4 fbrg02qtr3longterm.txt LONG-TERM INVESTMENT MATRIX
EXHIBIT 99.2 Friedman, Billings, Ramsey Group, Inc. Long-Term Investment Matrix (1) As of September 30, 2002 (Dollars in thousands) The following chart shows the allocation of Friedman, Billings, Ramsey Group, Inc.'s long-term investments, as stated on the September 30, 2002 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 $ 10,155 $ - $ 10,155 7.0% FBR Private Equity Fund, LP 259 1,488 1,747 1.2% FBR Future Financial Fund, LP - 867 867 0.6% FBR Financial Services Partners, LP 89 1,008 1,097 0.8% Direct investment 31 - 31 0.0% ----------- ----------- ----------- -------- 10,534 3,363 13,897 9.6% Real Estate/Mortgage FBR Asset Investment Corporation 71,437 4,119 75,556 52.0% Direct investment 3,951 3,304 7,255 5.0% ----------- ----------- ----------- -------- 75,388 7,423 82,811 57.0% ----------- ----------- ----------- -------- Subtotal 85,922 10,786 96,708 66.6% ----------- ----------- ----------- -------- Technology and Biotechnology FBR Technology Venture Partners, LP (2) - 725 725 0.5% FBR Technology Venture Partners II 22 2,192 2,214 1.5% FBR CoMotion Venture Capital I, LP (3) - 1,933 1,933 1.3% FBR Family of Mutual Funds 606 - 606 0.4% DDL and related direct investments 282 6,151 6,433 4.4% Direct investment 179 - 179 0.1% Third-party partnerships 106 3,068 3,174 2.2% Other 95 - 95 0.1% ----------- ----------- ----------- -------- 1,290 14,069 15,359 10.5% Capital Crossover Partners (third-party partnership) 7,976 - 7,976 5.5% Subtotal 9,266 14,069 23,335 16.0% ----------- ----------- ----------- -------- Debt ----------- ----------- ----------- -------- Direct investment (4) - 7,500 7,500 5.2% ----------- ----------- ----------- -------- Other FBR Arbitrage, LLC 11,104 - 11,104 7.6% FBR Weston, Limited Partnership 2,550 - 2,550 1.8% FBR Pegasus Fund, LLC (5) 3,169 - 3,169 2.2% Third-party partnership 750 - 750 0.5% Other - 196 196 0.1% 17,573 196 17,769 12.2% ----------- ----------- ----------- -------- ----------- ----------- ----------- -------- TOTALS $ 112,761 $ 32,551 $ 145,312 100.0% =========== =========== =========== ======== (1) Excludes trading securities inventory. (2) Amount includes accrued Fund Manager Compensation expense ("FMC") of $98. Asset value net of FMC as of September 30, 2002 was $627. (3) Amount includes loans of $456 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. (5) Fund of private funds. Comprises public securities of component funds according to component fund managers.