Amherst Capital Management is a real estate credit investment specialist with approximately $6.8bn* of assets under management. Amherst Capital was established in 2015 as a majority-owned subsidiary of Standish, a BNY Mellon Investment boutique with a focus on fixed-income, and is minority-owned by Amherst Holdings. Texas Treasury Safekeeping Trust Company is a founding seed investor**. Amherst Capital offers traditional and alternative real estate investment strategies to private and institutional investors globally, grounded in deep intellectual capital and one of the world's most robust real estate datasets. For more information please visit www.amherstcapital.com *As of November 2, 2015, Amherst Capital provides investment advisory services with respect to $6.8 billion assets under management. This amount includes $6bn in assets pertaining to certain discretionary multi-sector fixed income clients of our affiliate Standish Mellon Asset Management Company LLC ("Standish"), for which certain Amherst Capital employees provide advice acting as dual officers of Standish. In addition, discretionary portfolios in the amount of approximately $460mm are managed by certain of our employees in their capacity as dual officers of The Dreyfus Corporation. Amherst Capital also has $350mm in committed capital. **It was not known whether the listed clients approve or disapprove of the adviser or the advisory services provided.