GARY WILLIAMS

CHIEF FINANCIAL OFFICER AND CHIEF COMPLIANCE OFFICER

Mr. Williams serves as the CFO and CCO for GenCap. As CFO he is responsible for all the financial, taxation, human resources and office administration of the firm. As CCO he is responsible for administering and enforcing written supervisory procedures, assessing operational risk, and presenting practical solutions to complex problems facing the company. Mr. Williams is a member of GenCap’s Executive Committee and Investment Committee. Mr. Williams has worked in the real estate industry since 1983, and brings an extensive background covering accounting, finance and transactions. Previously, he has held executive positions at a number of privately held real estate companies. In addition, Mr. Williams has worked as a consultant for Coopers & Lybrand, specializing in real estate clients, and was the Vice President and Chief Accounting Officer for a publicly traded REIT.

Mr. Williams has a Bachelor of Business Administration in Finance and Accounting from the University of Iowa. He is a member of the Texas Society of CPAs and the American Institute of CPAs.