Mr. Sheftell graduated from the University of South Florida in 1976. Following graduation, Mr. Sheftell entered the management program of a world renowned consumer products company. In 1983, Mr. Sheftell joined Smith Barney, eventually becoming a Senior Vice President and managed over $2 billion in corporate cash. Prior to leaving Smith Barney, Mr. Sheftell helped pioneer the corporate structure for the Low Income Housing Tax Credit ("LIHTC") program. In 1991 Mr. Sheftell joined a small California based broker/dealer and focused exclusively on the LIHTC program until the founding of Fallbrook Capital in 2000. Presently, Mr. Sheftell is working to structure LIHTC investments for his institutional clients. From 1987 to date, Mr. Sheftell has been responsible for LIHTC equity investments in excess of $2 billion.

Mr. Blanken graduated from The George Washington University in 1991. Following graduation, Mr. Blanken joined a small brokerage firm in California and began working with Mr. Sheftell advising institutions on their LIHTC investments. In 2000, Mr. Blanken founded Fallbrook Capital whose sole business is advising and structuring institutional tax incentive investments.

Mr. Lederer graduated from The University of California, Santa Cruz. Mr. Lederer joined Fallbrook Capital in 2004 and his responsibilities include the marketing of tax credit investments to institutional investors with a specialty in state historic and film credits.