Prior to forming Capital Royalty, Mr. Tate was a Partner and Member of the Management Committee of Hicks, Muse, Tate & Furst, from which he retired at the end of June 2002. He joined Hicks Muse as a Managing Director and Principal in 1991 and has more than 30 years experience in investment and merchant banking. At Hicks Muse, he played an active role in helping establish the firm's New York presence, in the firm's capital raising activities, in the origination, structuring and monitoring of investments, and in the extension of the firm's investment activities into Mexico and Latin America.

Prior to joining Hicks Muse, Mr. Tate was at Morgan Stanley & Co. for 19 years, for most of that time as a Managing Director in the firm's mergers and acquisitions department, and for the last two-and-a-half years as a Managing Director in its Merchant Banking area. Before joining Morgan Stanley, Mr. Tate was employed by the Bank of America in New York from 1968 to 1971.

Mr. Tate serves on The University Cancer Foundation Board of Visitors for M. D. Anderson Cancer Center and is a member of the Institutional Initiatives Committee and its Strategic Plans for Research Advisory Group. He was previously Chairman of the Technology Transfer Ad Hoc Committee for The University Cancer Foundation Board of Visitors' Institutional Initiatives Committee.

Mr. Tate serves as Chairman of the External Advisory Committee of the Department of Biomedical Engineering at The University of Texas at Austin, a collaborative research effort of U.T. Austin's Department of Biomedical Engineering and U.T. M.D. Anderson Cancer Center and U.T. Health Science Center, the latter two located in Houston. Mr. Tate serves on The University of Texas at Austin Commission of 125 and is a Member of the Executive Committee. Mr. Tate served during 2002 on Governor Rick Perry's Council for Science and Biotechnology Development and was Chairman of the Committee on Capital Formation.

In addition, Mr. Tate serves on the Board of the Institute for Sports Medicine, a non-profit institute based in New York City, affiliated with The Hospital for Special Surgery, which provides research funding for gene therapy directed to soft tissue sports-related injuries. He also serves as a Director of the World Health & Golf Association, a non-profit institute that provides research funding for Texas Medical Center institutes and a "First Tee" program for inner city Houston I.S.D. youths.

In September 2004, Mr. Tate was appointed a Director of The University of Texas Investment Management Co. ("UTIMCO").

Mr. Tate received his B.B.A. from The University of Texas at Austin in 1968 and his M.B.A. from Columbia University Graduate School of Business in 1972. Mr. Tate was elected to The University of Texas at Austin McCombs School of Business Hall of Fame in 2003. He also currently serves on the Board of Overseers of the Columbia University Graduate School of Business.

Email: ctate@capitalroyalty.com
Tel: 713.209.7355