MHR Fund Management LLC ("MHR" or the "Firm") manages in excess of $5 billion and takes a highly differentiated, control-focused, private equity approach to investing in distressed and undervalued middle-market companies utilizing its proprietary approach to sourcing. MHR is an active investor that seeks to exert control or significant influence on its portfolio companies, which the Firm believes is essential to preserving and creating value. The Firm employs a rigorous, due diligence-focused investment process with a strong emphasis on downside protection that capitalizes on its deep industry knowledge and analytical capabilities. MHR may utilize the bankruptcy or restructuring process to improve both the capital structure and the cost structure of its portfolio companies. In addition, the Firm may seek to create long-term value beyond the turnaround process by continuing to improve operations, growing companies and effectuating successful exits. MHR believes its focus on growing companies either organically or through acquisition in addition to restructuring them is differentiated and serves to generate highly attractive returns for its limited partners across various investing environments.