Mr. Muenzberg is a managing director with CarVal Investors' North American Real Estate business. He is responsible for the acquisition, asset management and disposition of commercial real estate properties in selected U.S. markets. Mr. Muenzberg joined Cargill in 1989 as part of its equipment-leasing subsidiary where he managed the leveraged leasing and structured finance investment businesses. Beginning in 1994, he led Cargill's investment activity in the Low Income Housing Tax Credit arena before assuming his current responsibilities in 1998. Mr. Muenzberg was previously with Accenture as a Senior Consultant. Mr. Muenzberg received his MBA in Finance from the University of Minnesota and his B.A. in Accounting and Information Systems Analysis and Design from the University of Wisconsin.