Reservoir Capital Group Establishes Palisades Capital Advisors

Bradley D. Belt Appointed Chairman of Palisades
Reservoir Capital Group, L.L.C. today announced the establishment of Palisades Capital Advisors, L.L.C. (“Palisades”) and the appointment of Bradley D. Belt as its Chairman. Mr. Belt most recently served as Executive Director and CEO of the Pension Benefit Guaranty Corporation.
Palisades is an advisory and investment firm with a focus on the pension, insurance, and financial services industries. The firm provides customized pension risk management and restructuring advisory services to corporate and public plan sponsors, financial intermediaries, and participant groups. The firm also develops,
structures and invests in innovative products and solutions that address market needs, such as transferring or hedging pension investment and longevity risks. Palisades is based in New York, with offices in Washington, D.C.
“We are pleased to partner with someone of Brad’s expertise, character and reputation,” said Craig Huff, President of Reservoir Capital Group. “He has a track record of accomplishment in both the public and private sectors, and is a recognized thought leader on retirement finance and policy issues. He is equally well-regarded on Wall Street and in Washington, and is the ideal person to lead Palisades Capital.”
“There is a growing need for plan sponsors to address their pension and health care liabilities and to seek more cost-efficient and effective ways to deliver on their promises to beneficiaries,” said Mr. Belt. “Palisades focuses on delivering innovative solutions to address this market need through both its advisory and investment activities. On the advisory side, Palisades provides corporate and public plan sponsors, financial intermediaries and participant groups a unique combination of strategic, financial, regulatory, actuarial and policy expertise as clients seek ways to better manage enterprise risk or grapple with the pension-related aspects of restructurings. We can also commit capital where we see opportunities to create value from our expertise, relationships, and creative structuring capabilities.”
“I am excited to partner with Reservoir in launching Palisades Capital,” Belt continued. “Reservoir’s record of generating superior risk-adjusted returns for its investors speaks for itself, and the firm already has substantial capabilities through its affiliations and investments in risk management, insurance and reinsurance, and life
settlements that can be leveraged in new and exciting ways to offer customized solutions to our clients.”

About Bradley D. Belt
Bradley D. Belt has held senior executive roles in the private, public and nonprofit sectors. From 2004-2006 he was Executive Director and CEO of the Pension Benefit Guaranty Corporation, a wholly-owned government corporation that insures the pension benefits of more than 44 million Americans. In this role, Mr. Belt was responsible for the PBGC’s operations, including the administration of two insurance programs covering nearly 30,000 defined benefit plans sponsored by private-sector employers and management of the Corporation’s $60 billion investment portfolio. He also led the structuring and negotiation of the largest and most complex financial settlements in the history of the PBGC and played a critical role in shaping national retirement policy.

Prior to heading the PBGC, Mr. Belt was an executive with a financial technology company and managing director with a corporate advisory and merchant banking firm. Previously, he held senior staff positions with the Securities and Exchange Commission and the United States Senate Committee on Banking, Housing and Urban Affairs.
Mr. Belt is also a senior advisor to the Center for Strategic and International Studies, and has served on numerous private company, trade association and non-profit boards. He currently serves as a trustee on the board overseeing the Washington National Cathedral and St. Albans, Cathedral, and Beauvoir schools. He received his law degree from Georgetown University and is a member of the New York and District of Columbia bars.

About Palisades Capital Advisors, L.L.C.
Palisades is a privately held advisory and investment firm. The firm provides pension risk management and restructuring advisory services to corporate and public sponsors, beneficiaries, and financial intermediaries.
The firm also develops, structures and invests in innovative products and solutions that address market needs arising from structural changes in pension and insurance markets. Palisades is based in New York, with offices in Washington, DC. For more information, please visit:
www.palisadescapadv.com.

About Reservoir Capital Group, L.L.C.
Reservoir Capital Group, L.L.C. is a privately held investment firm with an opportunistic ‘hybrid’ approach.
Reservoir invests directly in public securities and private investments, as well as in partnerships with investment teams through the creation of hedge funds and private equity firms in which the Reservoir funds are an owner. Reservoir’s opportunistic investment funds currently have over $3.0 billion under management.

Contacts
For Palisades:
Sard Verbinnen & Co
Denise DesChenes / Renée Soto / Christopher Kittredge
212-687-8080
or
For Reservoir Capital Group:
Matthew T. Popoli
212-610-9086