<SEC-DOCUMENT>0001042046-18-000050.txt : 20180810
<SEC-HEADER>0001042046-18-000050.hdr.sgml : 20180810
<ACCEPTANCE-DATETIME>20180810161920
ACCESSION NUMBER:		0001042046-18-000050
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180630
FILED AS OF DATE:		20180810
DATE AS OF CHANGE:		20180810
EFFECTIVENESS DATE:		20180810

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN FINANCIAL GROUP INC
		CENTRAL INDEX KEY:			0001042046
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				311544320
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-04389
		FILM NUMBER:		181009081

	BUSINESS ADDRESS:	
		STREET 1:		GREAT AMERICAN INSURANCE GROUP TOWER
		STREET 2:		301 E. 4TH STREET
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202
		BUSINESS PHONE:		5135792121

	MAIL ADDRESS:	
		STREET 1:		GREAT AMERICAN INSURANCE GROUP TOWER
		STREET 2:		301 E. 4TH STREET
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN FINANCIAL GROUP HOLDINGS INC
		DATE OF NAME CHANGE:	19970709
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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    <submissionType>13F-HR</submissionType>
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      <liveTestFlag>LIVE</liveTestFlag>
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        <confirmingCopyFlag>false</confirmingCopyFlag>
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      <filer>
        <credentials>
          <cik>0001042046</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>06-30-2018</periodOfReport>
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  </headerData>
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    <coverPage>
      <reportCalendarOrQuarter>06-30-2018</reportCalendarOrQuarter>
      <filingManager>
        <name>AMERICAN FINANCIAL GROUP INC</name>
        <address>
          <com:street1>GREAT AMERICAN INSURANCE GROUP TOWER</com:street1>
          <com:street2>301 E. 4TH STREET</com:street2>
          <com:city>CINCINNATI</com:city>
          <com:stateOrCountry>OH</com:stateOrCountry>
          <com:zipCode>45202</com:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-04389</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>Brian S. Hertzman</name>
      <title>Vice President and Controller</title>
      <phone>513-579-2153</phone>
      <signature>/s/ Brian S. Hertzman</signature>
      <city>Cincinnati</city>
      <stateOrCountry>OH</stateOrCountry>
      <signatureDate>08-10-2018</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>3</otherIncludedManagersCount>
      <tableEntryTotal>220</tableEntryTotal>
      <tableValueTotal>1043743</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
      <otherManagers2Info>
        <otherManager2>
          <sequenceNumber>1</sequenceNumber>
          <otherManager>
            <form13FFileNumber>28-498</form13FFileNumber>
            <name>Great American Insurance Company</name>
          </otherManager>
        </otherManager2>
        <otherManager2>
          <sequenceNumber>2</sequenceNumber>
          <otherManager>
            <form13FFileNumber>28-1258</form13FFileNumber>
            <name>Great American Life Insurance Company</name>
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<DOCUMENT>
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    <titleOfClass>NAMEN AKT</titleOfClass>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>APOLLO COML REAL EST FIN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03762U105</cusip>
    <value>644</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35243</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>35243</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>APPLE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>037833100</cusip>
    <value>20158</value>
    <shrsOrPrnAmt>
      <sshPrnamt>108900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>108900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>APPLE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>037833100</cusip>
    <value>22398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>121000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>APPLE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>037833100</cusip>
    <value>2240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>12100</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ARCELORMITTAL SA LUXEMBOURG</nameOfIssuer>
    <titleOfClass>NY REGISTRY SH</titleOfClass>
    <cusip>03938L203</cusip>
    <value>3837</value>
    <shrsOrPrnAmt>
      <sshPrnamt>133333</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>133333</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCELORMITTAL SA LUXEMBOURG</nameOfIssuer>
    <titleOfClass>NY REGISTRY SH</titleOfClass>
    <cusip>03938L203</cusip>
    <value>3837</value>
    <shrsOrPrnAmt>
      <sshPrnamt>133333</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>133333</Sole>
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      <None>0</None>
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    <nameOfIssuer>ARLINGTON ASSET INVT CORP</nameOfIssuer>
    <titleOfClass>CL A NEW</titleOfClass>
    <cusip>041356205</cusip>
    <value>8257</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800842</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>800842</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ARLINGTON ASSET INVT CORP</nameOfIssuer>
    <titleOfClass>CL A NEW</titleOfClass>
    <cusip>041356205</cusip>
    <value>6217</value>
    <shrsOrPrnAmt>
      <sshPrnamt>603006</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>603006</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BP PLC</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>055622104</cusip>
    <value>3767</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>82500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BARCLAYS PLC</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>06738E204</cusip>
    <value>2016</value>
    <shrsOrPrnAmt>
      <sshPrnamt>201000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>201000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BARCLAYS PLC</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>06738E204</cusip>
    <value>1735</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>173000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>W R BERKLEY CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>084423102</cusip>
    <value>8472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>117000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>117000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BIOGEN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09062X103</cusip>
    <value>1016</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BIOGEN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09062X103</cusip>
    <value>1016</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BLACKSTONE GROUP L P</nameOfIssuer>
    <titleOfClass>COM UNIT LTD</titleOfClass>
    <cusip>09253U108</cusip>
    <value>11182</value>
    <shrsOrPrnAmt>
      <sshPrnamt>347600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>347600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BLACKSTONE GROUP L P</nameOfIssuer>
    <titleOfClass>COM UNIT LTD</titleOfClass>
    <cusip>09253U108</cusip>
    <value>1428</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>44400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BLACKSTONE MTG TR INC</nameOfIssuer>
    <titleOfClass>NOTE 4.750% 3/1</titleOfClass>
    <cusip>09257WAC4</cusip>
    <value>1464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1500000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BLACKSTONE MTG TR INC</nameOfIssuer>
    <titleOfClass>NOTE 4.750% 3/1</titleOfClass>
    <cusip>09257WAC4</cusip>
    <value>7807</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>8000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BLACKSTONE MTG TR INC</nameOfIssuer>
    <titleOfClass>NOTE 4.750% 3/1</titleOfClass>
    <cusip>09257WAC4</cusip>
    <value>488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>500000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BRIGHTHOUSE FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>10922N103</cusip>
    <value>415</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10363</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10363</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BRIGHTHOUSE FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>10922N103</cusip>
    <value>40</value>
    <shrsOrPrnAmt>
      <sshPrnamt>999</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>999</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CYS INVTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12673A108</cusip>
    <value>6395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>852700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>852700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CYS INVTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12673A108</cusip>
    <value>6986</value>
    <shrsOrPrnAmt>
      <sshPrnamt>931432</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>931432</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CYS INVTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12673A108</cusip>
    <value>3315</value>
    <shrsOrPrnAmt>
      <sshPrnamt>441985</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>441985</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAPITOL FED FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14057J101</cusip>
    <value>474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>36000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARLYLE GROUP L P</nameOfIssuer>
    <titleOfClass>COM UTS LTD PTN</titleOfClass>
    <cusip>14309L102</cusip>
    <value>17269</value>
    <shrsOrPrnAmt>
      <sshPrnamt>810777</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>810777</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARLYLE GROUP L P</nameOfIssuer>
    <titleOfClass>COM UTS LTD PTN</titleOfClass>
    <cusip>14309L102</cusip>
    <value>1243</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58373</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>58373</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CELGENE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>151020104</cusip>
    <value>794</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CELGENE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>151020104</cusip>
    <value>1191</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CENTURY CMNTYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>156504300</cusip>
    <value>12636</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>400500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CENTURY CMNTYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>156504300</cusip>
    <value>12636</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>400500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CISCO SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>17275R102</cusip>
    <value>4303</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CISCO SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>17275R102</cusip>
    <value>10757</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>250000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CISCO SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>17275R102</cusip>
    <value>430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CITIGROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>172967424</cusip>
    <value>29395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>439260</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>439260</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CITIGROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>172967424</cusip>
    <value>16943</value>
    <shrsOrPrnAmt>
      <sshPrnamt>253180</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>253180</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CITIGROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>172967424</cusip>
    <value>841</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>12560</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CLIPPER RLTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>18885T306</cusip>
    <value>3796</value>
    <shrsOrPrnAmt>
      <sshPrnamt>444444</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>444444</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CLIPPER RLTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>18885T306</cusip>
    <value>5693</value>
    <shrsOrPrnAmt>
      <sshPrnamt>666667</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>666667</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COLONY CAP INC</nameOfIssuer>
    <titleOfClass>NOTE 5.000% 4/1</titleOfClass>
    <cusip>19624RAA4</cusip>
    <value>20331</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21500000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>21500000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COLONY CAP INC</nameOfIssuer>
    <titleOfClass>NOTE 3.875% 1/1</titleOfClass>
    <cusip>19624RAB2</cusip>
    <value>9495</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>10000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>COLONY CAP INC NEW</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>19626G108</cusip>
    <value>17599</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2820430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2820430</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>COLONY CAP INC NEW</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>19626G108</cusip>
    <value>4661</value>
    <shrsOrPrnAmt>
      <sshPrnamt>746906</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>746906</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>COLONY CAP INC NEW</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>19626G108</cusip>
    <value>1024</value>
    <shrsOrPrnAmt>
      <sshPrnamt>164039</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>164039</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>COMCAST CORP NEW</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>20030N101</cusip>
    <value>6792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>207000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>207000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CONOCOPHILLIPS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>20825C104</cusip>
    <value>487</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>7000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DELL TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM CL V</titleOfClass>
    <cusip>24703L103</cusip>
    <value>3511</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41509</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41509</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DELL TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM CL V</titleOfClass>
    <cusip>24703L103</cusip>
    <value>3464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40959</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>40959</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DELL TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM CL V</titleOfClass>
    <cusip>24703L103</cusip>
    <value>566</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6687</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>6687</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DELTA AIR LINES INC DEL</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>247361702</cusip>
    <value>2021</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40804</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DELTA AIR LINES INC DEL</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>247361702</cusip>
    <value>1746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35244</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>35244</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DISH NETWORK CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>25470M109</cusip>
    <value>1008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DISH NETWORK CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>25470M109</cusip>
    <value>1008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>30000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ELLINGTON FINANCIAL LLC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>288522303</cusip>
    <value>8745</value>
    <shrsOrPrnAmt>
      <sshPrnamt>560238</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>560238</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ELLINGTON FINANCIAL LLC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>288522303</cusip>
    <value>20563</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1317309</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>1317309</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ENBRIDGE ENERGY PARTNERS L P</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29250R106</cusip>
    <value>492</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>45000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENBRIDGE ENERGY PARTNERS L P</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29250R106</cusip>
    <value>55</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENERGY TRANSFER PARTNERS LP</nameOfIssuer>
    <titleOfClass>UNIT LTD PRT INT</titleOfClass>
    <cusip>29278N103</cusip>
    <value>647</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>34000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENERGY TRANSFER PARTNERS LP</nameOfIssuer>
    <titleOfClass>UNIT LTD PRT INT</titleOfClass>
    <cusip>29278N103</cusip>
    <value>21145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1110550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>1110550</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENERGY TRANSFER PARTNERS LP</nameOfIssuer>
    <titleOfClass>UNIT LTD PRT INT</titleOfClass>
    <cusip>29278N103</cusip>
    <value>1151</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>60450</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENTERCOM COMMUNICATIONS CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>293639100</cusip>
    <value>4801</value>
    <shrsOrPrnAmt>
      <sshPrnamt>635834</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>635834</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENTERCOM COMMUNICATIONS CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>293639100</cusip>
    <value>4801</value>
    <shrsOrPrnAmt>
      <sshPrnamt>635835</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>635835</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXION THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>33938J106</cusip>
    <value>4106</value>
    <shrsOrPrnAmt>
      <sshPrnamt>158850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>158850</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXION THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>33938J106</cusip>
    <value>4106</value>
    <shrsOrPrnAmt>
      <sshPrnamt>158850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>158850</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANKLIN RES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>354613101</cusip>
    <value>2037</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>63550</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANKLIN RES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>354613101</cusip>
    <value>3553</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>110850</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANKLIN RES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>354613101</cusip>
    <value>1782</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>55600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FULL HOUSE RESORTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>359678109</cusip>
    <value>118</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35331</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35331</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FULL HOUSE RESORTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>359678109</cusip>
    <value>105</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31617</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>31617</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GENERAL MTRS CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37045V100</cusip>
    <value>30637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>777600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>777600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GENERAL MTRS CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37045V100</cusip>
    <value>12309</value>
    <shrsOrPrnAmt>
      <sshPrnamt>312400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>312400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GILEAD SCIENCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>375558103</cusip>
    <value>5465</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77143</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>77143</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GILEAD SCIENCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>375558103</cusip>
    <value>2226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31428</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>31428</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GILEAD SCIENCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>375558103</cusip>
    <value>810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11429</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>11429</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITE PT MTG TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38741L107</cusip>
    <value>720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39231</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>39231</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITE PT MTG TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38741L107</cusip>
    <value>2269</value>
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    <nameOfIssuer>INVESCO MORTGAGE CAPITAL INC</nameOfIssuer>
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    <titleOfClass>CL B</titleOfClass>
    <cusip>60871R209</cusip>
    <value>1701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MOLSON COORS BREWING CO</nameOfIssuer>
    <titleOfClass>CL B</titleOfClass>
    <cusip>60871R209</cusip>
    <value>1701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NII HLDGS INC</nameOfIssuer>
    <titleOfClass>COM PAR</titleOfClass>
    <cusip>62913F508</cusip>
    <value>97</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24793</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24793</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NII HLDGS INC</nameOfIssuer>
    <titleOfClass>COM PAR</titleOfClass>
    <cusip>62913F508</cusip>
    <value>11</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2849</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>2849</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NRG ENERGY INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>629377508</cusip>
    <value>105</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3424</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3424</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NRG ENERGY INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>629377508</cusip>
    <value>116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3769</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>3769</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NEW YORK CMNTY BANCORP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>649445103</cusip>
    <value>3864</value>
    <shrsOrPrnAmt>
      <sshPrnamt>350000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>350000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NEW YORK MTG TR INC</nameOfIssuer>
    <titleOfClass>NOTE 6.250% 1/1</titleOfClass>
    <cusip>649604AD7</cusip>
    <value>3693</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3750000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3750000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NEW YORK MTG TR INC</nameOfIssuer>
    <titleOfClass>NOTE 6.250% 1/1</titleOfClass>
    <cusip>649604AD7</cusip>
    <value>10403</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10563000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>10563000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NEXSTAR MEDIA GROUP INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>65336K103</cusip>
    <value>9641</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131350</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>131350</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NEXSTAR MEDIA GROUP INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>65336K103</cusip>
    <value>10456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>142450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>142450</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NEXSTAR MEDIA GROUP INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>65336K103</cusip>
    <value>815</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>11100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NORTHSTAR REALTY EUROPE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>66706L101</cusip>
    <value>2053</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141708</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>141708</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NORTHSTAR REALTY EUROPE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>66706L101</cusip>
    <value>108</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7458</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>7458</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OAKTREE CAP GROUP LLC</nameOfIssuer>
    <titleOfClass>UNIT CL A</titleOfClass>
    <cusip>674001201</cusip>
    <value>813</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OAKTREE CAP GROUP LLC</nameOfIssuer>
    <titleOfClass>UNIT CL A</titleOfClass>
    <cusip>674001201</cusip>
    <value>1016</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OAKTREE CAP GROUP LLC</nameOfIssuer>
    <titleOfClass>UNIT CL A</titleOfClass>
    <cusip>674001201</cusip>
    <value>203</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OMEROS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>682143102</cusip>
    <value>2469</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136113</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>136113</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OMEROS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>682143102</cusip>
    <value>3704</value>
    <shrsOrPrnAmt>
      <sshPrnamt>204171</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>204171</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ORGANOVO HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68620A104</cusip>
    <value>128</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>91500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ORGANOVO HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68620A104</cusip>
    <value>224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>160000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PDVWIRELESS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69290R104</cusip>
    <value>10395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>416640</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>416640</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PDVWIRELESS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69290R104</cusip>
    <value>16825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>674329</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>674329</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PJT PARTNERS INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>69343T107</cusip>
    <value>464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8690</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>8690</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PJT PARTNERS INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>69343T107</cusip>
    <value>59</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1110</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>1110</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PEAK RESORTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70469L100</cusip>
    <value>5603</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1120625</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1120625</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PEAK RESORTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70469L100</cusip>
    <value>627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125361</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>125361</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PENNYMAC CORP</nameOfIssuer>
    <titleOfClass>NOTE 5.375% 5/0</titleOfClass>
    <cusip>70932AAB9</cusip>
    <value>1989</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>2000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>POTBELLY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>73754Y100</cusip>
    <value>389</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>POTBELLY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>73754Y100</cusip>
    <value>1295</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>POTBELLY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>73754Y100</cusip>
    <value>907</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>70000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSPECT CAPITAL CORPORATION</nameOfIssuer>
    <titleOfClass>NOTE 5.875% 1/1</titleOfClass>
    <cusip>74348TAM4</cusip>
    <value>861</value>
    <shrsOrPrnAmt>
      <sshPrnamt>850000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>850000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSPECT CAPITAL CORPORATION</nameOfIssuer>
    <titleOfClass>NOTE 5.875% 1/1</titleOfClass>
    <cusip>74348TAM4</cusip>
    <value>152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>150000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSPECT CAPITAL CORPORATION</nameOfIssuer>
    <titleOfClass>NOTE 4.750% 4/1</titleOfClass>
    <cusip>74348TAQ5</cusip>
    <value>11743</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11760000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>11760000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSPECT CAPITAL CORPORATION</nameOfIssuer>
    <titleOfClass>NOTE 4.750% 4/1</titleOfClass>
    <cusip>74348TAQ5</cusip>
    <value>439</value>
    <shrsOrPrnAmt>
      <sshPrnamt>440000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>440000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PRUDENTIAL FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>744320102</cusip>
    <value>10520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>112500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PRUDENTIAL FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>744320102</cusip>
    <value>7137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76323</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>76323</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REVOLUTION LIGHTING TECHNOLO</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>76155G206</cusip>
    <value>3637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>902535</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>902535</Sole>
      <Shared>0</Shared>
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      <None>0</None>
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    <cusip>780259107</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>102000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>102000</Sole>
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      <None>0</None>
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    <nameOfIssuer>ROYAL DUTCH SHELL PLC</nameOfIssuer>
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    <cusip>780259107</cusip>
    <value>581</value>
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      <sshPrnamt>8000</sshPrnamt>
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    <otherManager>3</otherManager>
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      <Sole>8000</Sole>
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      <None>0</None>
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    <nameOfIssuer>ROYAL DUTCH SHELL PLC</nameOfIssuer>
    <titleOfClass>SPONS ADR A</titleOfClass>
    <cusip>780259206</cusip>
    <value>450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
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      <Sole>6500</Sole>
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      <None>0</None>
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    <nameOfIssuer>SELECT ENERGY SVCS INC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>81617J301</cusip>
    <value>6163</value>
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      <sshPrnamt>424184</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>424184</Sole>
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      <None>0</None>
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    <nameOfIssuer>SELECT ENERGY SVCS INC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>81617J301</cusip>
    <value>14381</value>
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      <sshPrnamt>989764</sshPrnamt>
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      <Sole>989764</Sole>
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      <None>0</None>
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    <nameOfIssuer>SHIRE PLC</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>82481R106</cusip>
    <value>14770</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>87500</Sole>
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      <None>0</None>
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    <nameOfIssuer>SHIRE PLC</nameOfIssuer>
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    <value>14770</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87500</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>SINCLAIR BROADCAST GROUP INC</nameOfIssuer>
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    <cusip>829226109</cusip>
    <value>13876</value>
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      <sshPrnamt>431599</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>SINCLAIR BROADCAST GROUP INC</nameOfIssuer>
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    <cusip>829226109</cusip>
    <value>14675</value>
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      <sshPrnamt>456450</sshPrnamt>
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    <votingAuthority>
      <Sole>456450</Sole>
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      <None>0</None>
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    <nameOfIssuer>SINCLAIR BROADCAST GROUP INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>829226109</cusip>
    <value>804</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>25000</Sole>
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      <None>0</None>
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    <nameOfIssuer>STARWOOD PPTY TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>85571B105</cusip>
    <value>326</value>
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      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
    <votingAuthority>
      <Sole>15000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>STARWOOD PPTY TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>85571B105</cusip>
    <value>326</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
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      <Sole>15000</Sole>
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      <None>0</None>
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    <nameOfIssuer>SUTHERLAND ASSET MGMT CORP M</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>86933G105</cusip>
    <value>5966</value>
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      <sshPrnamt>367152</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>367152</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>SUTHERLAND ASSET MGMT CORP M</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>86933G105</cusip>
    <value>14727</value>
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      <sshPrnamt>906290</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>906290</Sole>
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      <None>0</None>
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    <nameOfIssuer>SUTHERLAND ASSET MGMT CORP M</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>86933G105</cusip>
    <value>3360</value>
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      <sshPrnamt>206770</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
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      <Sole>206770</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>TPG SPECIALTY LENDING INC</nameOfIssuer>
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    <cusip>87265KAD4</cusip>
    <value>4982</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>5000000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>TPG SPECIALTY LENDING INC</nameOfIssuer>
    <titleOfClass>NOTE 4.500% 8/0</titleOfClass>
    <cusip>87265KAD4</cusip>
    <value>14946</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000000</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>TAPESTRY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>876030107</cusip>
    <value>11271</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <nameOfIssuer>TAPESTRY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>876030107</cusip>
    <value>6712</value>
    <shrsOrPrnAmt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>143700</Sole>
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      <None>0</None>
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    <nameOfIssuer>TEVA PHARMACEUTICAL INDS LTD</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>881624209</cusip>
    <value>2189</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>90000</Sole>
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      <None>0</None>
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    <nameOfIssuer>TORTOISE ENERGY INFRA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89147L100</cusip>
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      <sshPrnamt>271719</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>271719</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>TORTOISE ENERGY INFRA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89147L100</cusip>
    <value>5337</value>
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      <sshPrnamt>199964</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>199964</Sole>
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      <None>0</None>
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    <nameOfIssuer>TORTOISE MLP FD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89148B101</cusip>
    <value>1169</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68460</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>68460</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>TORTOISE MLP FD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89148B101</cusip>
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      <None>0</None>
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    <nameOfIssuer>TRIBUNE MEDIA CO</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
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    <value>13610</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>355627</Sole>
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      <None>0</None>
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  <infoTable>
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    <cusip>896047503</cusip>
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      <sshPrnamt>355626</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>355626</Sole>
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      <None>0</None>
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    <nameOfIssuer>TWENTY FIRST CENTY FOX INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>90130A101</cusip>
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      <sshPrnamt>50000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <cusip>90130A101</cusip>
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      <None>0</None>
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    <nameOfIssuer>TWO HBRS INVT CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>90187B408</cusip>
    <value>8012</value>
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  <infoTable>
    <nameOfIssuer>TWO HBRS INVT CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>90187B408</cusip>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM NEW</titleOfClass>
    <cusip>90187B408</cusip>
    <value>3484</value>
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      <None>0</None>
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    <nameOfIssuer>USA COMPRESSION PARTNERS LP</nameOfIssuer>
    <titleOfClass>COMUNIT LTDPAR</titleOfClass>
    <cusip>90290N109</cusip>
    <value>1998</value>
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      <sshPrnamt>118721</sshPrnamt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>USA COMPRESSION PARTNERS LP</nameOfIssuer>
    <titleOfClass>COMUNIT LTDPAR</titleOfClass>
    <cusip>90290N109</cusip>
    <value>188</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
    <nameOfIssuer>VERIZON COMMUNICATIONS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92343V104</cusip>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>2</otherManager>
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      <Sole>52994</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>VERISK ANALYTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92345Y106</cusip>
    <value>20042</value>
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      <sshPrnamt>186191</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>186191</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>VIACOM INC NEW</nameOfIssuer>
    <titleOfClass>CL B</titleOfClass>
    <cusip>92553P201</cusip>
    <value>13221</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>VIACOM INC NEW</nameOfIssuer>
    <titleOfClass>CL B</titleOfClass>
    <cusip>92553P201</cusip>
    <value>7741</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>3</otherManager>
    <votingAuthority>
      <Sole>256650</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WELLS FARGO CO NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>949746101</cusip>
    <value>6764</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>122000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
</informationTable>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
