Webster's defines the word Stratum as one of a series of layers, levels, or gradations in an ordered system. Stratum I, Stratum II and Stratum III are the names given to our three investment Funds as they highlight our approach and focus on developing an optimal capital structure. This strategy often involves the use of several layers of capital - too much reliance on traditional senior debt can mean the loss of flexibility when business conditions change; too much common equity is dilutive and expensive. We believe that creative structuring of junior capital (subordinated debt, convertible debt, common equity) can provide an optimal financing solution.