Consultants & Institutional Investors Roundtable 2014

Consultants & Institutional Investors Roundtable 2014 Four Seasons Hotel, Chicago, IL Sue Mullin Head of Consultant Relations, US Aberdeen Asset Management Inc. Telephone: (215)405-5759 Email: sue.mullin@aberdeen-asset.com Renee Hoffman Senior Vice President & Director, Consultant Relations Acadian Asset Management Telephone: (617)850-3579 Fax: (617)850-3679 Email: rhoffman@acadian-asset.com Bridget M. McKenna, CFA Assistant Vice President, Business Development Aetos Capital, LLC Telephone: (212)201-2527 Email: bmckenna@aetoscapital.com Michel Brogard Co-founder & Managing Partner Amber Capital Telephone: (212)340-7340 Email: michel.brogard@ambercapital.com Andy Burdick Head of Investor Relations Amici Capital, LLC Telephone: (212)484-1080 Fax: (212)898-0457 Email: aburdick@amicicapital.com Brita Gaffey Director, Marketing & Investor Relations Anchorage Capital Group, LLC Telephone: (212)358-4856 Email: bgaffey@anchoragecap.com Brigid Flanagan Managing Director Angelo, Gordon & Co. Telephone: (646)345-4888 Email: bflanagan@angelogordon.com Michael Holt Principal Apollo Global Management, LLC Telephone: (212)822-0642 Email: MHolt@ApolloLP.com Christopher Nicholas Investor Relations Arrowgrass Capital Partners (US) LP Telephone: (212)584-1163 Email: chris.nicholas@arrowgrass.com Jonathan Freedman Senior Vice President Avenue Capital Group Telephone: (212)850-2518 Fax: (212)878-3545 Email: jfreedman@avenuecapital.com Kerry Lyden Director, Marketing & Investor Relations Balyasny Asset Management Telephone: (212)808-2362 Email: klyden@bamfunds.com Chris Miller Global Head of Consultanat Relations Black River Asset Management LLC Telephone: (952)984-3231 Email: chris.miller@black-river.com John Gee-Grant Managing Director, Head of Global Consultant Relations BlackRock Telephone: 02077432121 Email: john.gee-grant@blackrock.com Jon Schlafman, CAIA Co-Head of Alternative Investments, N. America BlueBay Asset Management LLP Telephone: (203)541-4302 Fax: (203)541-4350 Email: jschlafman@bluebayinvest.com Garrett Berg, CFA Principal BlueCrest Capital Management Telephone: (212)451-2529 Fax: (212)451-2501 Email: gberg@nyc.bluecrestcapital.com Susan Mason Portfolio Specialist BlueMountain Capital Management L.P. Telephone: (212)905-2129 Email: smason@bluemountaincapital.com David Penz Managing Director, Consultant Relations BNY Mellon Investment Management Telephone: (412)234-7317 Fax: (412)209-6066 Email: david.penz@bnymellon.com Andrew Mikolasy Consultant Relations Bridgewater Associates, LP Telephone: (203)341-3745 Fax: (203)291-7300 Email: andrew_mikolasy_team@bwater.com 1

Robert Brady Director of Institutional Sales Brigade Capital Management Telephone: (212)745-9750 Fax: (212)745-9701 Email: RJB@brigadecapital.com Ingrid Kiefer Co-Head of Business Development Canyon Partners, LLC Telephone: (310)272-1250 Fax: (310)272-1251 Email: ikiefer@canyonpartners.com Andy Adams Managing Director, Investor Relations Capula Investment Management US LP Telephone: (203)542-2441 Email: aadams@capulaglobal.com Tom Kuchler Director, Investor Relations Carlson Capital, L.P. Telephone: (214)932-9695 Fax: (214)932-9712 Email: tkuchler@cclp.com Kelly Griffin Investor Relations Caxton Associates LP Telephone: (212)418-3734 Email: kgriffin@caxton.com Greg Gordon Managing Director & Associate General Counsel Cerberus Capital Management Telephone: (212)909-1432 Fax: (212)891-2140 Email: ggordon@cerberuscapital.com Eva Siekierski Head of Business Development, North America Cheyne Capital Telephone: (212)937-4972 Email: Eva.Siekierski@cheynecapital.com James R. Henderson Executive Vice President- Client Relations Chilton Investment Company Telephone: (212)751-3596 Email: Jhenderson@chiltoninc.com Christian Bires Director, Global Distribution Citadel Telephone: (312)395-3483 Email: chris.bires@citadel.com Ed Rieger SVP, Director of Consultant Relations Cohen & Steers Capital Management Telephone: (212)822-1627 Fax: (212)832-3904 Email: erieger@cohenandsteers.com Steve Sexeny Managing Director Cornerstone Capital Telephone: (212)938-8151 Fax: (212)938-8181 Email: Steve.Sexeny@cornerstonecapital.com Jay Bryant Senior Managing Director CVC Credit Telephone: (212)506-3821 Email: jbryant@cvc.com Erik Simpson, CFA Vice President D.E. Shaw & Co., L.P. Telephone: (212)403-8318 Fax: (646)873-2318 Email: erik.simpson@deshaw.com Alkesh Gianchandani Director Deutsche Asset Wealth Management Telephone: (212)250-6229 Fax: (212)797-0719 Email: alkesh.gianchandani@db.com Julie Brenton Managing Director Dune Real Estate Partners Telephone: (212)301-8370 Email: julie.brenton@drep.com Cia Buckley Chief Investment Officer Dune Real Estate Partners Telephone: (212)301-8367 Email: cia.buckley@drep.com Craig R. Kaplan, CFA Managing Director EJF Capital LLC Telephone: (703)875-7527 Email: ckaplan@ejfcap.com Rob Joseph Managing Director Evanston Capital Management, LLC Telephone: (847)563-5277 Fax: (847)328-4676 Email: rjoseph@evanstoncap.com Jessica Segal Director Farallon Capital Management Telephone: (415)616-6060 Email: jsegal@faralloncapital.com Fritz Fortmiller Principal & Senior Analyst Forester Capital, L.L.C. Telephone: (203)983-7380 Email: fritz@forestercapital.com Thomas F. Meagher, Jr. Managing Director GCM Grosvenor Telephone: 312-506-6540 Fax: (312)506-6550 Email: tmeagher@gcmlp.com Marina Mekhlis Director, Business Development GoldenTree Asset Management, LP Telephone: (212)847-3622 Email: ewhalen@goldentree.com 2

Jennifer Ryan Managing Director Goldman Sachs Asset Management Telephone: (212)357-3385 Email: jennifer.ryan@gs.com David Barrett Managing Director Gotham Asset Management LLC Telephone: (212)319-1776 Email: barrett@gothamassetmanagement.com John Avirett Partner Greenspring Associates Telephone: (410)363-2725 Fax: (410)363-9075 Email: javirett@gspring.com Carter Weil Managing Principal Halcyon Asset Management LLC Telephone: (212)848-9548 Email: cweil@halcyonllc.com Roger Smith Director of Investor Relations Hoplite Capital Management, LLC Telephone: (212)849-6721 Fax: (212)849-6791 Email: roger@hoplitecapital.com Deepa Bhattacharjee Sarkar Director, Business Development & Investor Re Hutchin Hill Capital, LP Telephone: (646)616-2102 Email: deepa.sarkar@hutchinhill.com Darya A. Mastronardi Director, Client Advisory Group JANA Partners, LLC Telephone: (212)455-0906 Email: darya.mastronardi@janapartners.com John E. Purcell Managing Director King Street Capital Management, L.P. Telephone: (212)812-3107 Fax: (212)796-1720 Email: JPurcell@kingstreet.com Amy Lesch Managing Director, Capital Raising Team Kohlberg Kravis Roberts & Co. Telephone: (212)847-9367 Fax: (212)750-0003 Email: amy.lesch@kkr.com Tim Otterman Director, Consultant Relations Lazard Asset Management Telephone: (212)632-6474 Fax: (212)332-5902 Email: tim.otterman@lazard.com Larry Pokora Head of Global Investor Relations and Marketing LibreMax Capital, LLC Telephone: (212)612-1590 Email: lpokora@libremax.com Chris Hannon Head of US Institutional Marketing & Investor Relations Lombard Odier Asset Management (USA) Corp. Telephone: (212)295-6191 Fax: (212)295-6220 Email: Christopher.hannon@lombardodier.com Molly Giffen VP, Consultant Relations Loomis Sayles & Company, L.P. Telephone: (617)310-3658 Email: mgiffen@loomissayles.com Emily Hannum Vice President, Institutional Sales Loomis, Sayles & Company, L.P. Telephone: (610)952-4850 Fax: 202-862-4973 Email: ehannum@loomissayles.com Michael Bernstein, CFA Head of N. American Business Development Lyxor Asset Management, Inc. Telephone: (212)205-4106 Email: michael.bernstein@lyxor.com Arash Rebek Senior Vice President Magnitude Capital, LLC Telephone: (212)915-3919 Email: arash.rebek@magnitudecapital.com Anne Lundberg, CAIA Managing Director Man Investments Inc. Telephone: (212)649-6858 Email: anne.lundberg@man.com William B. Young Managing Director Mariner Investment Group, LLC Telephone: (914)670-4327 Email: wyoung@marinercapital.com Jordan Foster Head of Investor Relations, Americas Marshall Wace North America L.P. Telephone: (212)235-2820 Fax: (212)235-2899 Email: j.foster@mwam.com Erik Barefield Senior Managing Director Mesirow Financial Telephone: (312)595-7388 Fax: (312)595-7307 Email: ebarefield@mesirowfinancial.com Anoop Dhakad, CFA Partner, Global Head of Marketing MKP Capital Management, L.L.C. Telephone: (212)303-7100 Fax: (212)303-7196 Email: adhakad@mkpcap.com Marc Stern Investor Relations Nephila Advisors LLC Telephone: (615)717-5843 Email: mstern@nephilaadvisors.com 3

Lee Minton Managing Director, Investor Relations Och-Ziff Capital Management Telephone: (646)826-5765 Fax: (646)826-5865 Email: lee.minton@ozcap.com James Meehan Managing Director Pacific Alternative Asset Management Company, LLC Telephone: (949)261-4946 Fax: (949)261-4903 Email: jmeehan@paamco.com T. Michael Johnson Senior Vice President Paulson & Co. Inc. Telephone: (212)813-6839 Fax: (212)351-5881 Email: T.Michael.Johnson@paulsonco.com Charles G. Hannigan Managing Director Perella Weinberg Partners Telephone: (646)216-4127 Fax: (646)786-4196 Email: channigan@pwpartners.com Sean Long AVP, Business Development - US Institutional Permal Group Telephone: +1 (212) 418 6552 Email: slong@permal.com Doreen Mochrie Managing Partner, Global Head of Investor Relations Perry Capital LLC Telephone: (212)583-4149 Fax: (212)583-4122 Email: dmochrie@perrycap.com Louis Kahl Vice President, Investor Relations Pershing Square Capital Management, L.P Telephone: (212)652-4048 Email: kahl@persq.com Sonali Wilson Vice President PIMCO Telephone: (949)720-6633 Email: Sonali.Wilson@pimco.com Marc Gonyea Head of Investor Relations Prosiris Capital Management Telephone: (212)291-7194 Email: marc.gonyea@prosiris.com Molly Pierce-Daniels Managing Director Protégé Partners LLC Telephone: (212)784-6314 Email: md@protegepartners.com Brad Blalock Principal, Client Relations Prudential Fixed Income Management Telephone: (973)367-5431 Email: brad.blalock@prudential.com Neil T. Johnson, CFA Head of Sales USA RobecoSAM, Inc. Telephone: (212)908-9768 Fax: +1 212 908 9672 Email: neil.johnson@robecosam.com Joy Semple Director, Marketing and Investor Relations Saba Capital Management, L.P Telephone: (212)542-4612 Email: joy.semple@sabacapital.com Kerry S. Dempsey Director of Consultant Relations Select Equity Group, Inc Telephone: (212)500-6147 Email: kdempsey@selectequity.com Jenny Wood Director of Client Relations Senator Investment Group, LP Telephone: (212)376-4322 Fax: (855)212-7540 Email: jwood@senatorlp.com Timothy Boggs Director, Business Development Serengeti Asset Management Email: tboggs@serengeti-am.com Wight Martindale Partner, Director of Business Development Solus Alternative Asset Management LP Telephone: (212)284-4343 Fax: (212)373-1533 Email: wmartindale@soluslp.com Samantha Zins Vice President, Business Development Solus Alternative Asset Management LP Telephone: (212)284-4306 Email: szins@soluslp.com Karim Ghachem Managing Director - Investor Relations Southpaw Asset Management LP Telephone: (203)862-6232 Email: kg@southpawasset.com Beau Hurst Head of Business Development and Investor Relations Stelliam Investment Management LP Telephone: 212 490-6720 Email: bhurst@stelliam.com Cheryl B. King Head of North America Institutional Marketing and Consultant Relations Symphony Asset Management Telephone: (415)676-4138 Fax: (415)676-2480 Email: cheryl.king@symphonyasset.com Jenny L. Fung Director, Marketing and Investor Relations Taconic Capital Advisors LP Telephone: (212)209-3111 Fax: (212)209-3183 Email: jfung@taconiccap.com 4

Chris Gates Managing Director Tricadia Capital Management Telephone: (914) 670-4369 Email: cgates@marinercapital.com Surbhi Mehta Vice President, Product Development Tudor Investment Corporation Telephone: (203)863-8613 Fax: (203)552-7490 Email: surbhi.mehta@tudor.com TF Meagher Executive Director, Business Development UBS O'Connor Telephone: (312)525-7671 Email: thomas.meagher@ubs.com Conor Sullivan Vice President, Sr. Consultant Relations Manager Voya Investment Management Telephone: (312)674-4808 Email: conor.sullivan@inginvestment.com Sharon Eliran Director Waterfall Asset Management Telephone: (212)257-4614 Email: seliran@waterfallam.com John Abunassar Hedge Fund Strategies William Blair & Company Telephone: (312)364-8842 Fax: (312)873-4475 Email: jabunassar@williamblair.com 5

Please review your firm s description. If you would like to make any changes to your firm s description, please e-mail changes to Taylor Cordy at taylor.cordy@iimemberships.com by Friday, Sept 19th. If we do not hear from you, we will print your firm s description as it appears below. Aberdeen Asset Management PLC Aberdeen Asset Management PLC (Aberdeen PLC) is the parent company of Aberdeen Asset Management Inc. (AAMI). AAMI is the registered name for Aberdeen s North American business and is headquartered in Philadelphia, Pennsylvania. AAMI has been registered with the SEC since August 1995. Aberdeen PLC, its affiliates and subsidiaries are referred to collectively herein as Aberdeen. Aberdeen was formed in 1983 via a management buyout of an investment management contract for an investment trust by our Chief Executive Officer, Martin Gilbert. Aberdeen has been providing investment management services since that time and has been listed on the London Stock Exchange since 1991. Over the years we have expanded through a combination of acquisition and organic growth. As of December 31, 2013, Aberdeen PLC assets under management were $320.6 billion, with approximately 56% in equities, 21% in fixed income, 15% in tailored solutions, and 8% in property. Source: Aberdeen PLC; as of December 31, 2013" Acadian Asset Management LLC Acadian has been an innovator in global asset management since 1986. As of October 31, 2013, the firm managed over $63.2 billion in assets for many of the world's leading institutions, applying a disciplined framework to the broadest possible investment universe. Led by a team whose professional ties extend back to Acadian's founding over 25 years ago, the firm specializes in active global and international equity strategies as well as emerging markets fixed income. Drawing on proprietary data and techniques covering over 40,000 securities in more than 60 markets worldwide, the firm focuses its extensive research capabilities on developing customized investment management strategies for its clients. Aetos Capital, LLC Aetos Capital, LP is an independent investment advisory firm offering institutional investors a set of focused investment strategies that seek to deliver superior risk-adjusted returns. Aetos Alternatives Management, founded in 2001, currently manages approximately $11 billion allocated to underlying hedge funds. Since our founding, we have focused exclusively on providing hedge fund investment services for institutional clients through multi strategy portfolios in addition to specialty mandates, such as tactical trading, credit, long/short and opportunistic. Our competitive advantage is our fiduciary perspective, institutional knowledge, and our skill in providing tailored solutions through both separated accounts and commingled funds across the spectrum of hedge fund strategies to accommodate our clients' specific return and volatility targets. AllianceBernstein AllianceBernstein is one of the world's largest investment management firms, with $450 billion in assets under management as of December 31, 2013. Our global client base includes some of the world's leading institutions as well as private clients and retail investors. AllianceBernstein has been in the

investment management business for more than 40 years and remains singularly focused on asset management and research. AllianceBernstein continues to embrace a deep commitment to comprehensive and superior research. We have nearly 200 in-house analysts, with dedicated economic, fundamental equity, fixed income, and quantitative research expertise. The breadth of our research expertise is reflected in the range of products and investment solutions we offer to our investors. Our offerings span regions as well as the risk-return spectrum: traditional and unconstrained fixed income, style-pure and absolute return-focused equities, index funds and structured services, multi-asset-class solutions, and alternatives. In addition, we have created and today manage one of the largest custom target-date platforms in the US, and we were the first in the industry to offer guaranteed lifetime income services for plan sponsors. Amber Capital Investment Management Amber Capital is a London-based investment manager spun-off from French bank Societe Generale in 2005, specializing in market-neutral, long-short equities, corporate event-driven, Europe and Latin & North America investment strategies. Using a deep-dive, bottom-up stock-picking approach, the firm focuses on anticipating corporate events and on special situations. Overall the firm has 30 employees based in Europe and New York, and manages approximately $1.7 billion. Amici Capital, LLC Amici Capital, LLC is a global long/short equity fund manager with roots that date back to 1976. A. Alex Porter and Paul E. Orlin are the owners and managing members of the Firm. Mr. Orlin is also the portfolio manager and leads an experienced team of investment professionals pursuing individual stock ideas on a global basis. The Firm attempts to deliver risk-adjusted returns across market environments. The Firm employs 30 individuals (16 are part of the investment team and 14 are part of the operations team). The Firm is registered with the SEC as an investment adviser and manages approximately $2.1bn in AUM. Anchorage Capital Group, L.L.C. Anchorage Capital Group, L.L.C. ("Anchorage" or the "Firm") is a registered investment adviser founded in 2003 by Kevin Ulrich and Anthony Davis. As of December 31, 2013, Anchorage manages approximately $12.4 billion across a credit-oriented product platform primarily consisting of three fund families: Anchorage Capital Partners Funds, Anchorage Short Credit Funds and Anchorage Illiquid Opportunities Funds. As of December 31, 2013, the Firm has 141 employees, 57 of whom are dedicated investment professionals, 64 of whom are infrastructure professionals, and 20 of whom are human resources and administrative professionals. Anchorage focuses on a wide range of assets across the credit spectrum and throughout a company's capital structure, including performing bank loans and bonds, credit derivatives, and defaulted debt and restructured equity. Anchorage is headquartered in New York with additional offices in London, Sydney, and Luxembourg. Angelo, Gordon & Co Angelo, Gordon & Co., founded in 1988, is a privately held focusing on alternative money management activities for institutional clients and high net worth individuals. Angelo, Gordon s investment disciplines encompass credit, real estate, private equity and multi-strategy. In each discipline, Angelo, Gordon seeks to generate absolute returns by exploiting market inefficiencies and capitalizing on situations that are not in the mainstream of investment opportunities. The common thread linking investments is a

conservative evaluation approach implemented through in-depth research and a diversification strategy applied within each portfolio to limit downside risk. The firm has over 300 employees, including more than 110 investment professionals, and has approximately $25 billion in assets under management. The Firm is headquartered in New York with associated offices in Chicago, Houston, Los Angeles, San Francisco, Washington D.C., London, Amsterdam, Hong Kong, Tokyo, Seoul and Sydney. " Apollo Global Management, LLC Founded in 1990, Apollo is a leading global alternative investment manager with approximately $161 billion assets under management as of December 31, 2013. We are contrarian, value-oriented investors in private equity, credit and real estate, with significant distressed expertise and a flexible mandate in the majority of our funds that enables our funds to invest opportunistically across a company's capital structure. Apollo is led by managing partners, Leon Black, Joshua Harris and Marc Rowan, who have worked together for more than 20 years. AQR Capital Management, LLC AQR Capital Management is a global investment management firm employing a disciplined and analytical research process to macroeconomic and fundamental data. AQR's diversified offerings range from traditional benchmark-oriented long-only strategies to absolute return alternative strategies. As of June 30, 2013, AQR managed approximately $83.5 billion worldwide for institutional investors, such as pension funds, insurance companies, endowments, foundations and sovereign wealth funds, as well as financial advisors. Founded in 1998, AQR is based in Greenwich, Connecticut, with offices in Chicago, Los Angeles, London, Sydney and Hamilton, Bermuda. Arrowgrass Capital Partners LLP Arrowgrass Capital Partners LLP ( Arrowgrass ) is an alternative investment manager, regulated by the FCA and SEC, which employs a non-siloed, multi-strategy approach to investing in a broad range of asset classes on a global basis. At the core of our investment philosophy is the belief that a dynamic allocation of capital through the economic cycle is essential to maximizing value as the opportunity set evolves. Our investment process combines top-down and bottom-up analysis to identify idiosyncratic, catalystdriven opportunities, all of which is complemented by a comprehensive infrastructure and risk management platform. Founded in February, 2008 Arrowgrass currently has 122 employees located in its London (87) and New York (35) offices, and manages $5.0 billion of client capital. Aurora Investment Management L.L.C. Since 1988, Aurora Investment Management has applied a consistent investment philosophy, disciplined investment process, and a commitment to superior due diligence in delivering hedge fund solutions to its clients. With $9.1 billion in assets under management, Aurora is unique in the industry for the continuity and active involvement of its investment leaders. Aurora s deep due diligence process includes rigorous investment, operational and quantitative analysis of each manager, producing meaningful, timely, and actionable intelligence. Since 1995, Aurora has provided customized portfolio solutions to institutional clients, focusing on identifying, evaluating, and investing in the best hedge fund managers around the world.

Avenue Capital Group Avenue Capital Group is a global investment firm that focuses primarily on distressed and undervalued credit related securities, bank loans, trade claims and private investments. Formed in 1995 and headquartered in New York with offices throughout Europe and Asia, the firm manages assets estimated at $12.6 billion as of December 31, 2013. Avenue draws on the skills and experience of approximately 205 employees and its Senior Partners, Marc Lasry and Sonia Gardner, who have spent virtually their entire careers in the field of distressed investments. The firm seeks to perform rigorous analysis of both the industry and the individual company before making an investment. Industries in transition, whether through secular or cyclical forces, often represent attractive investment opportunities. The firm follows well-developed investment themes and continually re-evaluates its macro views and strategies. AXA Investment Managers AXA Investment Managers (AXA IM) was founded in 1994 by AXA Group, a world leader in insurance. Our expertise includes AXA Fixed Income, AXA Framlington (Qualitative Equity), AXA Rosenberg (Quantative Equity), AXA Funds of Hedge Funds, AXA Private Equity, AXA Real Estate, AXA Structured Finance as well as Investment Solutions for multi-management and fiduciary management capabilities. The multi-expert platform, ranked 14th largest in the world with assets under management of US$692 billion, provides local and global investment solutions for institutional (87%) and retail clients in 30 cities across 23 countries in the Americas, Europe, the Middle East and Asia. Balyasny Asset Management L.P. Balyasny Asset Management (BAM) founded in 2001, is an institutional investment firm dedicated to delivering consistent, uncorrelated absolute returns in all market environments. BAM combines high quality, proprietary, fundamental research with top investment talent, a dynamic capital allocation process and comprehensive risk management. BAM has over 130 investment professionals across multiple investment disciplines and global offices in Chicago, New York, San Francisco, Connecticut, London and Hong Kong. The flagship strategy has been positive every year since inception, with a correlation of +0.05 to the S&P 500 since inception. The fund reopened on January 1, 2014 and AUM is currently $5B. Barclays "Barclays is a major global financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management with an extensive international presence in Europe, the Americas, Africa and Asia. Barclays' purpose is to help people achieve their ambitions in the right way. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. Barclays offers premier investment banking products and services to its clients through Barclays Bank PLC. For more information, visit www.barclays.com Black River Asset Management LLC Black River is a global asset management firm specializing in alternative investment strategies. Formed in 2003, we are an independently managed subsidiary of Cargill, a privately held corporation and one of the world's leading suppliers of food, agricultural and industrial products and services. We offer differentiated sources of alpha to our investors through a range of investment strategies in both

developed and emerging markets. Our core investment capabilities encompass both public and private markets and include relative value, directional, event-driven, macro and natural resource strategies. Black River's investment professionals are located in 12 countries spanning five continents. Our global presence and worldwide connectivity with Cargill provide us with broad perspectives that help us identify opportunities and manage risk. We apply these insights to our highly focused strategies built on our core capabilities. Combining broad perspectives with focused strategies, Black River delivers diversified sources of absolute returns to our investors. BlackRock BlackRock's range of solutions includes fundamental and quantitative active management approaches aimed at maximizing outperformance as well as highly efficient indexing strategies designed to gain broad exposure to the world's capital markets. Clients can access our investment solutions through a variety of product structures, including separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading ishares  ETFs. Our commitment to investment excellence is anchored in a culture that always places a client's interests first, from individual investors to the world's largest institutions. BlackRock's investment approach is based on our conviction that we can combine our market insights, global reach and scale, proprietary technology, culture of information sharing and unwavering focus on risk management into an ability to deliver performance in all market environments. BlackRock is committed to providing a broad set of investment solutions for our clients, striving to achieve the best balance between risk and opportunity. BlueBay Asset Management, LLC BlueBay was established in 2001 as a specialist fixed income credit manager with the aim of capitalizing on two strong structural growth trends in European credit and Emerging Market debt. Today, BlueBay is one of Europe s largest managers of fixed income credit and alternative products with AUM over US$60 billion for institutions and private investors worldwide. Based in London, with offices in the US, Luxembourg, Hong Kong and Japan, the business strategy focuses on four key elements; strong risk adjusted investment performance, robust risk management, recruitment and retention of highly talented individuals, and diversified distribution. The result: a combination of the infrastructure and resources of a world-class asset manager with the investment focus of a boutique. BlueBay Asset Management is a wholly-owned subsidiary of Royal Bank of Canada (RBC). BlueCrest Capital Management BlueCrest Capital Management LLP, was founded in 2000 and is one of the largest global alternative asset managers with offices in London, Geneva, Guernsey, New York, Boston, Connecticut, Sao Paulo and Singapore. BlueCrest manages investments for a global institutional client base, including corporate and public pension funds, sovereign wealth funds, endowments and foundations, through its range of discretionary and systematic trading funds. The firm provides a range of products to its investors including Multi-Strategy, Managed Futures (CTA), Fixed Income Macro, Emerging Market, Credit and Trade Finance funds. BlueCrest is 100% owned by its principals. Assets under Management total over $32bn as of February 2014.

BlueMountain Capital Management, LLC BlueMountain Capital Management, LLC was founded by Andrew Feldstein and Stephen Siderow in 2003. The firm is a leading absolute return manager focused on the credit markets managing $13.5bn of assets, with $11.3bn in absolute return assets and $2.3bn in CLO assets. Our large and diverse team of 166 professionals in New York and London are supported by our institutionalized and proprietary infrastructure, including world-class operations and risk management technology. BlueMountain is a relative value credit manager that pursues three primary strategies in the U.S. and Europe: fundamental credit, structured credit, and arbitrage & technical. BlueMountain's core product offerings include two credit funds and an equity volatility fund: The flagship fund, Credit Alternatives, takes a multi-strategy credit approach, and Long/Short Credit Fund, focuses on liquid, fundamentally-driven credit strategies. Equity Alternatives pursues relative value trades in equity derivatives to achieve returns uncorrelated with the equity market. BlueMountain employs an alpha-centric investment philosophy that seeks to construct a portfolio with relatively low market exposure and leverage. BNY Mellon Investment Management As one of the world's leading investment management organizations and one of the top U.S. wealth managers, BNY Mellon Investment Management combines agility, insight and scale to create and deliver strategies and solutions to address our clients' needs. Encompassing BNY Mellon's investment management firms, wealth management organization, and global distribution teams, we draw on deep expertise to collaborate with clients and tailor our best ideas and resources to meet their specific needs. We pride ourselves on providing dedicated service through our network of global professionals who have a deep understanding of local requirements. Bridgewater Associates Bridgewater Associates is a global leader in institutional portfolio management with approximately US$157 billion in assets under management, including US$81 billion in our Pure Alpha strategy (a hedge fund/gtaa/portable alpha strategy) and US$76 billion in All Weather, our optimal beta/risk Parity strategy, as of 04/2014. Bridgewater began investment operations in 1975, and is a pioneer in risk budgeting and the separation of alpha and beta, managing Portable Alpha/GTAA, Hedge Fund, Optimal Beta/Risk Parity, Currency Overlay, Global Fixed Income and Inflation-Indexed Bond mandates. Bridgewater manages these portfolios for a wide array of institutional clients globally, including public and corporate pension funds, foreign governments and central banks, university endowments and charitable foundations. Brigade Capital Management Brigade Capital Management is an SEC-registered investment advisor that was founded by Donald E. Morgan III and Patrick W. Kelly in 2006. Â Brigade currently manages over $14 billion in assets in the credit space. Â Brigade implements a fundamentally driven, "bottom-up" investment process across long/short, opportunistic, distressed and traditional credit strategies. Â The firm has 18 employee partners who have each made a significant investment in the Brigade funds. Â Mr. Morgan leads a 45 person investment team that has deep sector expertise across multiple credit cycles in the leveraged finance market. Â Additionally, the team has extensive experience in capital restructurings and bankruptcy reorganization. Â This institutional infrastructure is supported by a veteran team of 53 business management and operations professionals that is led by Mr. Kelly. Â The firm seeks to achieve

long-term growth and preservation of capital that is independent of the specific market environment. Â Brigade has offices located in both New York and Zurich, Switzerland. Canyon Partners, LLC Canyon is a global, value-oriented alternative asset manager that employs a variety of event-driven, activist, and distressed strategies across a broad spectrum of asset classes. The firm was founded in 1990 by Joshua Friedman and Mitchell Julis, both of whom have been intimately involved in the stressed/distressed markets since the early 1980s. Canyon employs approximately 240 people worldwide and is headquartered in Los Angeles with additional offices in London and New York. Canyon's investment team benefits from stability, lasting relationships and nuanced expertise. The firm's five Senior Portfolio Managers and two Head Traders are all Partners and have an average tenure at Canyon of 12 years (half of the firm's 24 year operating history). Canyon employees and management are collectively the largest investor across the Canyon Funds. Our investment approach is centered on extensive research rather than more rapid / high-volume trading strategies. We look across the corporate capital structure, investing opportunistically in senior secured leveraged loans, high yield bonds, convertibles, equities, and derivatives, and often leverage our experience to provide financing solutions to entities that may not have access to traditional capital. Additionally, we look beyond the traditional corporate markets to the structured finance space. Over the past decade, we have developed a great deal of expertise in mortgage securities, aircraft lease securitizations, CDOs/CLOs, distressed structured municipal bonds, and other niches. Allocations across these asset classes will shift over time in response to evolving value propositions and risk/reward profiles. Canyon has been registered with the SEC since 1994. Capula Investment Management US LP Capula Investment Management LLP ( Capula ) is a global fixed income specialist firm located in London with affiliated entities in Greenwich, Connecticut, Hong Kong and Tokyo. Co-founded in 2005 by Yan Huo, managing partner and co-cio, the firm manages absolute return, enhanced fixed income and tail risk strategies and advises a European special situations strategy. With approximately USD 9.2 billion of assets under management (as of March 31, 2014), Capula manages capital for a diversified investor base comprised of sovereigns, institutions and financial intermediaries from North America, Europe, the Middle East and Asia Pacific. Institutional investors represent more than 80% of capital invested. The core fixed income investment team consists of eight senior trading partners with over 150 years of collective experience. Yan Huo and the core fixed income investment team were members of the JP Morgan proprietary trading group based in New York and London, and have focused on interest rate markets since they first came together in 1996. Over many years, individual members of the team have refined discretionary trading and risk management techniques in the focus markets and for the last 16 years have managed through all major market crises, including 1998 and 2008. The team focuses on trading, not investments. Capula s fixed income trading strategies focus primarily on G3 interest rate and macro trading and primarily trade liquid government bonds, interest rate swaps and futures and options. Trading is tactical and short-term in style, and portfolio turnover is frequent. What differentiates Capula is its macro focus, strong trading discipline and short-term orientation rather than a medium-term investment style. The firm s understanding of liquidity risks and tail risks has helped it thrive through all stages of the investment cycle, including periods of extreme market disruption.

David Gu, co-cio and partner, joined Capula in 2011 after a long career at BofA Merrill Lynch managing global trading teams and oversees the European special situations products. Capula s European special situations strategy was launched in 2012 and focuses primarily on illiquid and middle market senior secured loans from deleveraging and stressed bank sellers in Europe. Capula has assembled an experienced European credit team to concentrate on identifying significant potential opportunities engendered by the European banking and sovereign crisis. Capula has three strategic investors, a Goldman Sachs private equity vehicle, Mitsubishi Corporation and Tokai Tokyo. Carlson Capital, L.P. Carlson Capital, L.P. is an alternative asset management firm. Founded in 1993 by Clint Carlson, the firm currently manages over eight billion dollars across multiple hedge fund products, with a focus on nondirectional, relative value investment strategies. Based in Dallas, Carlson is an independently-owned registered investment advisor with offices located in New York, Greenwich, CT, and London. The firm rests on three pillars: philosophy, people, and process. Caxton Associates LP Founded in 1983, Caxton Associates LP ("Caxton") is a New York based discretionary global macro hedge fund managed by Andrew E. Law, the firm's Chairman and Chief Executive Officer. Caxton has a 30+ year history of delivering absolute returns across all market environments. Caxton seeks to achieve its objective by employing a multi-manager approach that invests in a diversified portfolio of substantially uncorrelated strategies while maintaining tight risk management and a focus on liquidity. Caxton trades across asset classes including fixed income, currencies, commodities and equities and geographic regions in order to capture opportunities as they arise. Cerberus Capital Management, L.P. Founded in 1992, Cerberus Capital Management, L.P. is one of the world's leading private investment firms. The Firm has over US $25 billion under management invested in four primary strategies: Distressed securities and assets (residential and commercial mortgage securities/assets, corporate debt, non-performing loans, structured loans), control and non-control private equity, corporate mid-market lending and real estate-related investments. Headquartered in New York City with affiliate and/or advisory offices in the United States, Europe and Asia, Cerberus is a truly global investor with a long-term investment horizon and focus on value creation. The Firm s more than 145 dedicated investment professionals are integrated across all four of its investment strategies, bringing considerable expertise in assessing, acting upon and managing all Cerberus investments. The Firm s proprietary operations team, Cerberus Operations and Advisory Company, LLC (COAC), employs world-class operating executives to support Cerberus s investment teams in the following areas: sourcing opportunities, conducting highly informed due diligence, taking interim management roles, monitoring the performance of investments and assisting in the planning and implementation of operational improvement initiatives at Cerberus s portfolio companies.\

Cheyne Capital Cheyne Capital is a London-based alternative investment manager with AUM of $6.6 billion and 145 partners and employees. The firm's main areas of expertise are Real Estate Debt, Corporate Credit, Event Driven, Convertible Bonds and Equities. Cheyne was founded in 2000 by Jonathan Lourie and Stuart Fiertz who had previously worked together for nine years at Morgan Stanley. Chris Goekjian (formerly Head of the Global Fixed Income Division of Credit Suisse's investment bank) joined in April 2009 as CIO. Approximately 85% of Cheyne's assets are managed on behalf of pension funds, insurance companies, sovereign wealth funds, endowments, banks, funds of funds and other financial institutions. The remainder is managed for family offices and high net worth individuals. Chilton Investment Company Chilton Investment Company was founded in July 1992 by Richard L. Chilton, Jr. The firm currently manages approximately $3.1 billion in assets under management principally across the following four long/short equity strategies: - Chilton Flagship Strategy: invests primarily in U.S. companies - managed by Richard L. Chilton - Chilton European Equities: invests primarily in European domiciled companies - managed by Frederic Gautier - Chilton Small Cap Equities: invests primarily in U.S. Small Cap companies -managed by Daniel Szemis - Chilton Global Natural Resources: invests globally in the natural resource and commodity space - managed by Leigh Goehring. A long only version of this strategy is also available. Chilton Investment Company has been an SEC registered investment advisor since January 2004 and maintains four offices worldwide in NY, Stamford CT, London and Hong Kong. Our portfolio managers, analysts and client relations group generally operate out of our offices in New York. Our headquarters is in Stamford, Connecticut, where we primarily perform our trading, operations, accounting, and legal operations. We have an office in London, where the portfolio manager and analysts for our European Equities Strategy Team are based. Chilton also maintains an office in Hong Kong where analysts for our Asian Strategies are based. Citadel Established in 1990, Citadel is a leading global financial institution with a diverse business platform built on a foundation of world-class talent, technology and infrastructure. For over two decades, Citadel has deployed capital on behalf of its investors across multiple alternative investment strategies, including Equities, Fixed Income & Macro, Commodities, Convertibles & Quantitative Credit, and Quantitative Strategies. We develop our insights based on detailed fundamental analysis and quantitative rigor. The firm employs an 825-person team, of which approximately 400 are investment and front office professionals1. Citadel operates in the world's major financial centers including Chicago, New York, London, Hong Kong, San Francisco, Boston, Dallas, Houston and Greenwich. Cohen & Steers Cohen & Steers is a leading global investment manager of liquid real asset solutions. Founded in 1986, the firm was the first investment advisor to focus on REITs, one of the original liquid real assets. Since that time, we have been recognized for our innovation and leadership in this market. We also manage

portfolios for the other major liquid real asset classes, including listed infrastructure, master limited partnerships, commodities and natural resource equities. We deliver these strategies as individual mandates or as customized multi-strategy portfolios to meet the specialized needs of our clients. Headquartered in New York City, with offices in London, Hong Kong, Tokyo and Seattle, Cohen & Steers manages $49.0 billion for institutional and individual investors around the world." Cornerstone Capital Cornerstone Capital is a boutique equity investment firm based in New York City. The firm manages a variety of domestic and international fundamental, quantitative, and passive investment strategies across all market capitalization ranges. Cornerstone Capital prides itself on a disciplined, transparent, and intuitive investment approach. Through the combination of proven, proprietary investment models and the talent and expertise of our seasoned investment professionals, we aspire to deliver the highest quality investment solutions and services to our institutional clients. Our passion for the pursuit of excess returns drives our disciplined investment process, exceptional research capabilities, and keen focus on risk management. Deutsche Asset Wealth Management Deutsche Asset Wealth Management is one of the top 5 largest asset management firms in the world. The alternatives offerings within Deutsche Asset Wealth Management include hedge funds, private equity, real estate, commodities, and infrastructure. Deutsche AWM's approach is client centric and based on our ability to customize solutions to meet the objectives of our clients (sovereign wealth funds, corporations, insurance companies, endowments, or retirement plans globally). What makes Deutsche AWM so powerful is the combination of capabilities from the transactional banking umbrella with the more traditional asset-management business. We deliver services as an asset-manager as well as a service-provider with unique technologies or value-added propositions when allocating to Alternatives. For instance when allocating to Alternatives, investors can customize the risk-profile, increase liquidity or transparency, or meet specific regulatory requirements. In other words, we leverage the best of 2 worlds: the infrastructure of a large investment bank and the expertise of a leading asset-manager in Alternatives. Dune Real Estate Partners Dune Real Estate Partners LP (or "Dune") is a New York City-based real estate investment firm executing an opportunistic strategy with a focus on distressed, deep value-add and contrarian investing, primarily in the United States. The firm's sole focus is on assembling and managing a diversified portfolio of compelling, opportunistic real estate investments. Dune manages the Dune Real Estate Funds which were launched by Mr. Daniel M. Neidich in 2005 and have raised over $1.9 billion of equity capital and currently manages $3.5 billion of real estate assets. Dune's five partners, led by Mr. Neidich as C'EO and Ms. Cia Buckley as CIO, have an average of 24 years of real estate experience and bring broad-based relationships, long-term investment histories and extensive capital markets experience to the firm's investment program. EJF Capital LLC EJF Capital LLC ("EJF") is an independent, employee-owned, SEC-registered investment adviser that manages a diverse group of alternative investment strategies for qualified individuals and institutional investors. EJF manages more than $4.6 billion (as of 7.31.13) in hedge fund strategies and has 55

employees, approximately half of whom are actively involved in the daily management of the portfolio. Founded in September 2005, EJF leverages the asset management and capital markets experience of Emanuel Friedman, co-founder, and former co-chairman and co-ceo of Friedman, Billings Ramsey Group, Inc. EJF was co-founded by Neal Wilson, formerly Senior Managing Director for the Alternative Asset Investment and Private Wealth Management groups at FBR and former Branch Chief for the SEC in Washington, DC. EJF is headquartered outside of Washington D.C. in Arlington, VA with research offices in London and Shenzhen, PRC. Entrust Capital Inc. EnTrust Capital and its affiliates are investment advisers registered with the SEC since inception, under the Investment Advisers Act of 1940. Gregg S. Hymowitz, Managing Partner, founded EnTrust in 1997 following his investment career at Goldman Sachs. Focusing exclusively on hedge fund investments, EnTrust devotes extensive resources to the bottom-up research of hedge fund managers and provides an efficient solution to the challenge investors face in evaluating, investing, and monitoring the wide breadth of hedge fund strategies. Working closely with clients as a strategic alternative investment partner, EnTrust helps clients determine how our solutions can best suit their specific needs. Evanston Capital Management, LLC Evanston Capital Management, LLC (""ECM"") is a privately held investment adviser formed in 2002 focused exclusively on managing hedge fund of funds strategies for both institutional and high net worth investors. ECM's principals and professionals bring together extensive hedge fund investment experience and a complementary set of skills to create a cohesive culture seeking to deliver top-tier performance to investors with a high touch, transparent servicing approach. ECM manages a variety of strategies (multi-strategy, equity long/short and less directional multi-strategy) with an emphasis on more concentrated portfolios composed of managers in which ECM has gained high conviction. Of the $4.9 billion in assets under management, the vast majority of ECM's investors are institutional, including endowments, foundations, hospitals, corporate, public and Taft-Hartley pension plans. ECM has over 300 institutional investor relationships today. Farallon Capital Management Farallon Capital Management, L.L.C. was founded in 1986 and has been a registered investment adviser with the United States Securities and Exchange Commission since 1990. We invest globally across asset classes, seeking to achieve superior risk-adjusted returns through a process of bottom-up fundamental analysis that emphasizes capital preservation. While our investment philosophy remains consistent, its execution is flexible, allowing capital to shift among strategies, asset classes, and geographies based on prevailing opportunities. As of January 2014, the firm had approximately 170 employees and $20B in assets under management. The firm has offices in San Francisco (headquarters), London, Singapore, Hong Kong, Tokyo and San Paulo. GAM Established in 1983, GAM is an independent, active asset manager and member of the GAM Holding Group. We deliver investment solutions to institutions, intermediaries, private clients and charities from offices in financial centers around the world. Our capabilities span investment strategies across equity, fixed income, absolute return, alternative investments, discretionary portfolio management and tailored investment solutions. Our aim is to deliver strong, long-term returns for our clients through some of the

world's most talented investment managers. Our focus on performance, risk management, uncompromising investment standards and partnership with our clients enables us to achieve that objective. GAM Holding AG has assets under management of over $120 billion and employs over 1,000 staff with offices in 10 countries. GCM Grosvenor GCM Grosvenor is one of the world's largest and most diversified independent alternative asset management firms, with over $40 billion in assets under management. Through its two alternative investment groups, GCM Grosvenor Capital Management and GCM Customized Fund Investment Group, the Firm offers comprehensive public and private markets solutions. These solutions provide clients with a broad suite of investment and advisory choices that span hedge funds, private equity, infrastructure and real estate. GCM Grosvenor specializes in developing customized investment programs for its clients. The Firm also manages commingled investment products with specialty exposures and structures. GCM Grosvenor has been managing alternative investment portfolios on behalf of clients since 1971. The Firm's global client base is primarily institutional and includes public pensions, sovereign wealth entities, banks, corporations, insurance companies, charitable organizations and endowments. GCM Grosvenor currently has six global offices and multiple regional offices staffed by over 375 professionals. GoldenTree Asset Management, LP GoldenTree is a bottom up fundamental value investor that specializes in corporate and structured credit markets. Founded in 2000, GoldenTree has over $20 billion in assets under management, investment offices in New York and London, and 187 employees in total with over 40 investment professionals. 35% of our assets under management are partnerships with public pension and sovereign wealth funds. GoldenTree's investment process aims to maximize total return across market cycles and credit sectors while maintaining a high margin of safety. GoldenTree balances its flagship absolute return strategies by offering private-equity style funds that are focused on specific market opportunities. GoldenTree's extensive business management infrastructure provides robust operational support to its investment funds and customized client solutions. Our foundation for consistent investment results in absolute return strategies is attributed to the quality of the investment team, unique investment process, governance and best practices, and risk management. Goldman Sachs Asset Management Established in 1988, Goldman Sachs Asset Management (GSAM) is the asset management arm of The Goldman Sachs Group, Inc. (NYSE:GS). At GSAM, we develop strong partnerships with institutional investors across the globe based on a deep understanding of their needs. Our clients include foundations, endowments, corporate pension plans, public pension plans, Taft-Hartley plans, insurers, corporations and official institutions. Our experienced investment teams manage a broad range of strategies across major asset classes including fixed income, equity and alternative investments. In addition, GSAM provides discretionary and non-discretionary investment advisory solutions in areas such as asset allocation, portfolio construction, risk management, manager selection and tactical tilts to deepen and enhance our clients' existing capabilities. GSAM's strengths remain a commitment to outstanding research, disciplined investment teams, sophisticated risk management and our ability to attract and retain top investment talent. The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to

a substantial and diversified client base that includes corporations, financial institutions, governments, and high net- worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. No part of this material may, without GSAM's prior written consent, be (i) copied, photocopied or duplicated in any form, y any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient. Â 2012 Goldman Sachs. All rights reserved. 63358. Gotham Asset Management LLC Gotham Asset Management, LLC is a private investment management firm focused on providing investors with domestic long/short equity portfolios and a range of long-only strategies. The firm is a successor to Gotham Capital, LLC, which was formed in 1985 by Joel Greenblatt. The firm's investment philosophy centers on the belief that superior investment results may be achieved through the systematic application of a value discipline to groups of stocks within an emotional market. The firm's 11 analysts research and maintain a proprietary financial database that is used to construct value-weighted long/short equity portfolios managed by the firm's Co-CIOs, Joel Greenblatt and Robert Goldstein. Risk management is achieved through a tested and rigorous adherence to concentration and liquidity constraints. Gotham Asset Management is registered with the SEC and headquartered in New York City. Greenspring Associates Greenspring Associates is focused solely venture capital. We currently manage $2.4 billion in committed capital for institutions in North America, Europe, Australia and Asia through commingled funds and separately managed accounts. Our strategies include global venture capital fund-of-funds, direct later stage growth equity investments, secondary investments and custom venture mandates. Our focus is to provide institutional investors access to the world's top-performing venture capital and growth equity managers and selective investments directly into their fastest growing companies, many of which are unavailable to institutions seeking to initiate or expand their own venture capital investment programs. Halcyon Asset Management LLC Founded in 1981, Halcyon Asset Management LLC and its affiliates (""Halcyon"") constitute a global investment firm with approximately $12.9 billion in AUM. Halcyon's mission is to provide its investors with excellent risk-adjusted performance, minimizing drawdowns and limiting volatility as well as market correlation. Halcyon produces alpha by dynamic strategy allocation, by individual investment selection, and by evolving its strategies as the economic landscape changes. Emphasizing rigor, intellectual honesty, and extensive due diligence, these processes are designed to evolve so that Halcyon always has leading capabilities in sourcing, execution, ongoing position management, and portfolio construction. Halcyon's multi-strategy hedge funds invest dynamically across merger, credit, and special situations strategies, primarily in North America and Western Europe. Halcyon also manages specialized strategies focused on stressed/distressed asset-backed securities, senior secured bank loans, and energy. Halcyon is primarily owned by 16 active partners who average 14 years of experience with the firm. With offices in New York, London and Houston, Halcyon employs over 115 in total staff, approximately 50 of whom are investment professionals. Halcyon manages hedge funds, customized managed accounts, and other vehicles for investors. Halcyon is committed to industry best practices and has been registered with the SEC since 1997 and is authorized by the FCA.

Hoplite Capital Management, LLC Founded in 2003 by John T. Lykouretzos, Hoplite Capital Management, LLC is a U.S. registered Investment Adviser that has approximately $3.2 billion of assets under management. Hoplite is a fundamental, long-short equity fund that focuses on most industry sectors globally. The goal of the fund is to maximize long-term absolute returns with appropriate levels of risk. The investment process is research-intensive and bottom-up with independently selected longs and shorts. Hoplite is based in New York and consists of 28 employees, including 10 investment professionals. Hutchin Hill Capital, LP Hutchin Hill is a global multi-disciplinary investment adviser founded by Neil Chriss, PhD. Hutchin Hill s $1.9bn Diversified Alpha Fund focuses on liquid, relative-value and absolute return strategies, and seeks to produce attractive, risk adjusted returns with zero beta to traditional risk assets and low correlation to other hedge funds. Capital is actively allocated across each of Diversified Alpha s five core investment strategies that represent distinct sources of alpha: Event/Special Situations, Fundamental L/S Equity, Fundamental L/S Credit, Macro, and Quantitative. The firm has offices in New York, London, Boston and Austin, Texas, and is registered with the US SEC and CFTC, and its UK subsidiary is authorized and regulated by the UK FCA. " JANA Partners LLC JANA Partners LLC ( JANA ) is an SEC-registered investment manager specializing in event-driven investing founded in 2001 by Barry Rosenstein, JANA s Managing Partner and Co-Portfolio Manager. JANA applies a fundamental value discipline to identify undervalued companies that have one or more specific catalysts to unlock value; JANA applies the inverse strategy in identifying short investment opportunities. In certain cases, JANA can be the instrument for value creation by becoming an actively engaged shareholder. JANA manages approximately $10 billion in investments and commitments and employs 50 people, including 17 investment professionals. In addition to Barry Rosenstein, JANA s Co- Portfolio Managers are David DiDomenico, who is a Co-Portfolio Manager and Partner and joined the firm in 2010, and Scott Ostfeld, who is a Co-Portfolio Manager of the JANA Strategic Investments Strategy and Partner and joined the Firm in 2006. JANA is headquartered in New York. King Street Capital Management, L.P. King Street Capital Management, L.P. is a long/short credit and event-driven investment management firm, founded in 1995 by O. Francis Biondi, Jr. and Brian J. Higgins. Currently, King Street manages about $20 billion in capital through two Flagship Funds and two European Funds. It is a 195 person organization, with over 50 investment professionals in offices in New York, Charlottesville, Virginia, London, Tokyo and Singapore. King Street is a registered investment adviser with the U.S. Securities and Exchange Commission, and has been registered since March 2012. King Street has a proven 18-year track record producing attractive risk-adjusted returns in diverse market environments. The firm takes a fundamental and research-intensive approach to investing and opportunistically applies its investment philosophy across industries, issuers and geographies through a team-oriented approach. King Street's focus is on long/short credit and event-driven opportunities, including distressed, stressed and out-offavor situations, shorting of investment grade and high yield debt, capital structure trades, special situations involving spin-offs, litigation plays or other events, and deep value situations where we believe there is a particular catalyst that will unlock that value.

Kohlberg Kravis Roberts & Co. KKR is led by founding Members Henry R. Kravis and George R. Roberts and is a leading global investment firm with three primary business lines: Private Markets, Public Markets and Capital Markets and Principal Activities. Since KKR's inception in 1976, we have expanded our capabilities from our core private equity franchise to complementary businesses that build on our knowledge, relationships and established investment capabilities to provide enhanced value to investors, the companies in which we invest, and other key stakeholders. Our expanded focus encompasses energy & infrastructure, growth equity investments, real estate and a range of debt and public equity investing. KKR has offices in New York, Menlo Park, San Francisco, Houston, Washington, D.C., London, Paris, Hong Kong, Beijing, Tokyo, Seoul, Sydney, Mumbai, Sao Paolo and Dubai. As of September, 2013, the firm has approximately $90.2 billion of assets under management with over 1,000 people around the world. Lazard Asset Management Tracing its history back to 1848, Lazard has long maintained a pre-eminent position in the world s financial marketplace. Lazard Asset Management LLC, an indirect, wholly-owned subsidiary of Lazard Ltd., is known for its global perspective on investing and years of experience with global, regional and domestic portfolios. With more than 300 investment personnel worldwide, we offer investors of all types an array of equity, fixed income, and alternative investment solutions from our network of local offices in eleven different countries. Our team-based approach to portfolio management helps us to serve clients effectively over time, and strong client relationships allow us to understand how to employ our capabilities to our clients advantage." LibreMax Capital, LLC LibreMax Capital, LLC is a New York based $3 billion asset management firm specializing in structured credit. The firm takes a diversified approach to credit investing across a variety of structured products including non-agency RMBS, Consumer ABS, CMBS, CLOs, and CDOs. Our investment team focuses on active trading, low leverage and hedging, while utilizing micro-credit analysis and rigorous security selection. LibreMax Capital is a registered investment advisor with the United States Securities and Exchange Commission. Lombard Odier Asset Management (USA) Corporation Lombard Odier Investment Managers (LOIM), is the investment management subsidiary of Lombard Odier Group, the 200 year-old Swiss private bank. LOIM currently manages $46 billion across high conviction equity, global fixed income and alternative investment strategies for institutions, intermediaries, and private clients across the globe. We launched our hedge fund business in 2007 and today we manage $3.4 billion in several absolute return funds. Our flagship strategy, 1798 Fundamental Strategies Fund, is a diversified, equity-focused long/short portfolio, pursuing a low net, risk-controlled approach with the objective of generating attractive returns with moderate volatility. The Fund is managed by a 19-person investment team, which includes the Chief Investment Officer, Steve Bulko, and eight sector/strategy teams: five sector specialists and three opportunistic managers. LOIM's other offerings include Consumer Equity L/S, US Special Situations and the Absolute Return Bond Strategy. Common to all of our investment strategies are an emphasis on risk management, transparency and the aligning of interests.

Loomis, Sayles & Company, L.P. Since 1926, Loomis, Sayles & Company, L.P. has served the investment needs of institutional and mutual fund clients. As performance-driven investors seeking exceptional opportunities, Loomis Sayles employs actively managed disciplines that combine fundamental research, systematic risk assessment and experienced portfolio management. This rich tradition has earned Loomis Sayles the trust and respect of clients worldwide, for whom it manages $187.6 billion in equity and fixed income assets as of June 30, 2013. Lyxor Asset Management Inc. Lyxor Asset Management S.A., a subsidiary of Societe Generale Group, was founded in 1998. With over 600 professionals worldwide, Lyxor manages more than $115 billion in assets (as of March 31, 2014) across four business lines: Alternative Investments, ETFs & Indexing, Multi-Asset Investments and Structured Investments. Our investment specialists deliver asset management and advisory solutions to institutional investors across a range of asset classes. With a strong culture of risk management and research, Lyxor is a leader in innovative, transparent and flexible asset management. Lyxor Asset Management Inc., a Delaware Corporation, is registered as an investment adviser with the Securities and Exchange Commission and is the U.S.-based, wholly-owned subsidiary of Lyxor S.A." Magnitude Capital, LLC Magnitude Capital, LLC manages over $3.3 billion in several multi-strategy funds of hedge funds. Since it was founded in 2001, Magnitude has carefully assembled an investment team whose members have all held senior roles inside of hedge funds. The firm focuses on delivering attractive risk-adjusted returns by applying its team's extensive investment and operational experience inside hedge funds, investing disproportionately where opportunities are most attractive, and limiting passive exposures to major risk factors. Man Group plc Man Group plc ( Man ) is a global, independent asset manager dedicated to alternative and long-only investing. It has expertise in a wide range of liquid investment styles including managed futures, equity, credit and convertibles, emerging markets, global macro and multimanager. Man s investment managers include AHL/MSS, specializing in systematic investments, GLG, a multi-asset class alternative and long-only manager, and FRM, a hedge fund solutions and multi-manager investment specialist. Man is headquartered in London and manages $55 billion (as of March 31, 2014) for institutional and private clients through global investment teams located in major financial centers worldwide. Further information can be found at www.man.com. Mariner Investment Group, LLC Mariner Investment Group, LLC ("Mariner") is an investment advisory firm, grounded by significant investing experience and a strong commitment to risk management across a broad range of markets. Mariner offers an array of investment advisory services including the management of single manager hedge funds, multi manager hedge funds, and other alternative investments. Founded in 1992, the Firm has a notable history of attracting and developing top proprietary trading talent and seasoned investment managers. With over 120 investment professionals, Mariner and its associates' depth and breadth of investing experience allows us to partner with our investors on a wide range of specialized and diversified mandates that draw upon the Firm's expertise garnered from years of credit and fixed

income investing. Mariner delivers its investment solutions through various structures, including strategic partnerships, separate custom accounts, and commingled products. Our proprietary risk analytics are the cornerstones of a robust institutional infrastructure designed to manage and minimize financial, operational, regulatory, and compliance related risks. Mariner's long term commitment to our clients is most evident in our focus on communication, transparency and the alignment of our interests with our investors and partners. Mariner's investor base includes public funds, sovereign wealth funds, corporate pensions, university endowments, and insurance companies. Mariner's offices are located in New York, London, Tokyo, Boston, Seoul, Harrison (NY), and Rowayton (CT). Marshall Wace North America L.P. Founded in 1997, Marshall Wace is an investment firm specializing in long/short equity. With assets under management in excess of US$18 billion (as of April 2014) The firm brings together two distinct but complementary approaches to asset management: traditional, fundamental long/short investing grounded in stock specific research and, Marshall Wace TOPS ('MW TOPS'), our pioneering and proprietary investment process which seeks to identify and extract alpha from the ideas of sell-side brokers, specialists, economists and strategists. Marshall Wace has investment offices in London, the US (Greenwich) and Hong Kong. Mesirow Advanced Strategies, Inc. Mesirow Advanced Strategies, Inc. is a global, institutional fund of hedge funds investment adviser with $13.6 billion in assets under management and 129 employees (as of 3/31/14). Our firm is headquartered in Chicago with investment centers in London and Hong Kong. Founded in 1990, we offer a variety of multi-strategy and single strategy, multi-manager and custom-designed portfolios for public and private pension funds, banks, hospital and healthcare organizations, insurance companies, corporations, and sovereign wealth funds. Our fund of hedge funds business has been recognized as a top three fund of hedge funds manager for pension assets globally with two-thirds of assets managed on behalf of pension funds today. Our key advantage is our ability to identify skill from luck and to recognize the best sources of compensated risk when building portfolios. For more information, please visit us at mesirowfinancial.com/advanced Strategies. MKP Capital Management, L.L.C. MKP Capital Management, L.L.C. ("MKP" or "Firm") is a diversified alternative investment manager with over $8 billion in assets under management. The Firm has operated with a long-term approach to alternative investing since its founding in 1995. MKP has been registered as an Investment Adviser with the U.S. Securities and Exchange Commission since 2000 and its London affiliate has been authorized and regulated by the Financial Conduct Authority since 2011. MKP invests across global markets, including U.S. and global rates, currencies, credit, equities and commodities through its discretionary global macro and diversified, long/short credit strategies. Each investment strategy shares the objective of producing high risk-adjusted returns over the long term in a risk-controlled manner. MKP believes that business integrity and transparency are an essential and uncompromising part of our business model. With over 80 employees in New York and London, MKP operates with a full institutional infrastructure across risk management, marketing, technology, operations, legal and support.

Nephila Capital Established in 1997, Nephila Capital is the oldest and largest investment manager dedicated to Reinsurance & Insurance Linked Securities (ILS). Founded by Greg Hagood and Frank Majors, the firm now employs over 50 professionals with expertise in finance, seismic engineering, catastrophe risk modeling and traditional reinsurance underwriting. The firm's investment process is based upon a rigorous quantitative approach and a deep understanding of the catastrophe risk markets. Today the firm manages over $8bn on behalf of some of the world's largest institutional investors, including endowments, pension funds and fund of funds in North America, Europe, the Middle East and Australasia. Nephila's flagship reinsurance fund was launched in 1998 and has a 15 year track record of delivering attractive returns uncorrelated with the broader capital markets. Nephila is headquartered in Bermuda, the world's center of expertise for reinsurance, allowing the firm access to all investable segments of the catastrophe risk transfer market. Nephila has been registered with the SEC since 2004 and its US subsidiary (Nephila Advisors LLC) has offices in San Francisco, CA and Nashville, TN. In addition to its multi-investor fund vehicles, Nephila also offers bespoke reinsurance fund solutions for institutional investors. In recognition of the strength and depth of the business, two strategic investors have purchased minority stakes in Nephila: Man Group plc (2008) and KKR & Co LP (2013). Neuberger Berman Neuberger Berman is a 75-year-old private, independent, employee-controlled investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions, advisors and individuals worldwide. With offices in 16 countries, Neuberger Berman's team is approximately 2,000 professionals and the company was named by Pensions & Investments as a 2013 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $242 billion in client assets as of December 31, 2013. Och-Ziff Capital Management Group Och-Ziff Capital Management Group ( Och-Ziff or the Firm ) is a global institutional alternative asset management firm that presently manages approximately $43.5 billion (as of May 1, 2014). Och-Ziff was founded in February 1994 by Daniel S. Och, Chief Executive Officer and an Executive Managing Director, in partnership with Ziff Brothers Investments. The Firm s global multi-strategy approach seeks to achieve consistent, positive, absolute returns throughout market cycles through investments in merger arbitrage, long/short equity special situations, corporate credit, structured credit, convertible/derivative arbitrage and private investments. As of May 1, 2014, the Firm had 550 employees worldwide, including 151 investment professionals working from its headquarters in New York City and offices in London, Hong Kong, Mumbai, Beijing and Dubai. Pacific Alternative Asset Management Company Pacific Alternative Asset Management Company is a leading independent fund of hedge funds investment firm dedicated to offering strategic alternative investment solutions to the world's preeminent investors. Since its founding in 2000, PAAMCO has focused on investing in hedge funds on behalf of its clients while striving to raise the standard for industry-wide best practices. Headquartered in Irvine, California, with a European office in London, and an Asian office in Singapore, PAAMCO has clients that include large public and private pension funds, sovereign wealth funds, foundations,

endowments and financial institutions. The firm is committed to meeting the needs and demands of its global institutional client base. Paulson & Co. Inc. Paulson & Co. is a SEC registered investment management firm specializing in event arbitrage, including merger arbitrage, bankruptcy and distressed credit, recapitalizations, restructurings and other corporate events. The flexibility to go both long and short across the capital structure allows the firm to optimize performance from event-driven strategies across market cycles. Through fundamental research Paulson seeks asymmetric risk-reward positions that target outsized returns while minimizing downside. The firm's goals are capital preservation, above average return over the long-term and low correlation to the markets. Founded in 1994, Paulson has approximately 121 employees, including 52 investment professionals in New York, London and Hong Kong. Led by John Paulson, the investment team consists of professionals with distinguished academic backgrounds and previous careers in investment banking, law, and derivative products structuring and trading. As of August 1, 2012 the firm manages approximately $20 billion in assets under management. Perella Weinberg Partners Perella Weinberg Partners is a leading independent financial services firm. Established in 2006, the Firm provides advisory and asset management services to a global client base, including corporations, institutions and governments. Our Advisory business advises clients on mergers and acquisitions, financial restructuring, capital structure advisory, private capital raising, pension matters, strategic advisory, independent special committee advisory, and government services. The Asset Management business includes a suite of hedge fund strategies, private investment funds and outsourced investment office solutions. Including affiliates, Perella Weinberg Partners has capital commitments and managed assets of approximately $11.3 billion. Serving a diverse group of global clients, Perella Weinberg Partners employs over 415 employees located in our New York, London, Abu Dhabi, Denver, Dubai, and San Francisco offices. Permal Group Permal is a leading global asset management group, offering investment solutions through established funds and customized portfolios, drawing on almost four decades of experience in manager selection, asset allocation and risk management, with a core competence in alternative investments. Perry Capital LLC Perry Capital is a private investment firm founded in 1988. The firm currently manages approximately $10.5 billion with a multi-strategy, event driven focus across all asset classes and geographies. Perry Capital s goal is to invest in companies and markets that are experiencing significant change and the firm focuses on achieving long term equity market returns with low correlation. It employs 101 professionals with offices in New York and London. The firm s partners and employees are collectively amongst the largest investors in funds managed by Perry Capital. Pershing Square Capital Management, L.P Pershing Square is a concentrated, research-intensive, fundamental value investor in the public markets, with approximately $13.7B under management as of April 30, 2014. We seek to identify and invest in long and short investment opportunities that we believe exhibit significant valuation discrepancies between current trading prices and intrinsic business (or net asset) value, often with a catalyst for value

recognition. Our focus on deeply undervalued or overvalued securities is due to our belief that a wellpriced purchase or short sale is often the most important determinant of the success of an investment. We also believe that acquiring a portfolio of investments at a large discount to intrinsic value will provide a margin of safety that can mitigate the likelihood of an overall permanent loss of capital. A substantial majority of the Funds' capital is typically in 8 to 12 core investments. In certain situations, if we believe the commitment of time, energy and capital is justified, we may seek to be a catalyst to realize value from an investment by taking an active role in effectuating corporate change. These activist techniques may include working with management, proposing a restructuring, recapitalization, sale, or other change in strategic direction, seeking potential acquirers, engaging in proxy contests, making tender offers, changing management and other related activities. We believe that these activist techniques can both accelerate and maximize the realization of value from an investment. William A. Ackman is the founder and Managing Partner. PIMCO Pacific Investment Management Company ("PIMCO") has managed alternatives strategies for institutional clients for more than a decade. Our offerings include hedge funds and opportunistic distressed strategies with total assets of approximately $23 billion as of December 31, 2012. PIMCO's alternatives strategies benefit from the firm's global resources and investment process and are managed by investment specialists with asset-level insights and significant experience in alternative assets. Over 70 investment professionals throughout the firm contribute to PIMCO's alternatives platform, including portfolio managers, credit analysts, product managers and client-facing personnel in offices around the globe. PIMCO is a global investment management firm founded in Newport Beach, California, in 1971. The firm serves a wide range of clients around the world, including public and private pension and retirement plans, central banks, educational institutions, financial advisors and foundations and endowments. ProShares ProShares offers the nation's largest lineup of alternative ETFs. We enable investors to go beyond the limitations of conventional investing and meet today's market challenges. We help investors build better portfolios by providing access to alternative investments delivered with the liquidity, transparency and cost effectiveness of an ETF. ProShares' lineup includes Global Fixed Income, Hedge Strategies, Geared (leveraged and inverse), and Inflation and Volatility ETFs with over $22 billion in total assets under management. Prosiris Capital Management Prosiris Capital Management LP is a long/short credit-oriented investment manager. The firm's founder and CIO is Reza Ali, a former Managing Director and Head of the Americas Principal Funding and Investments Group at Goldman, Sachs & Co. Prosiris manages diversified, multi-sector portfolios with asymmetric return profiles across different market scenarios while dynamically hedging systemic risks. The firm launched its flagship vehicle July 2011. Prosiris is an SEC registered investment adviser.

Protege Partners, LLC Protege Partners, LLC ( Protege ) is a specialized asset management firm that was founded in 2002 by Jeffrey Tarrant and Ted Seides to focus exclusively on investing in smaller hedge funds. Differentiated from the broader universe of hedge fund investors that principally focuses on large, widely held funds, Protege is recognized as an industry expert in what it believes is the highly attractive, less efficient, and under allocated universe of smaller hedge funds. By deploying its expertise through a unique model of investing, one that blends seeding and arms-length investments, along with thematic and tactical opportunities, Protege works with some of the most sophisticated institutional investors in the world to compliment and complete a robust hedge fund program. Headquartered in New York with an office in Singapore, Protege is 100% employee owned, maintains a substantial co-investment alongside clients and currently employs over 30 professionals. Providence Equity Partners Providence Equity Partners ( Providence ) is one of the world s leading asset management firms specializing in equity investments in media, communications, education, and information companies around the world, as well as liquid and illiquid credit investments. The principals of Providence s private equity and credit platforms manage funds with over $40 billion in assets under management and have invested in over 140 companies globally since the firm's inception in 1989. Providence s credit platform has approximately $8.5 billion of credit assets under management across several strategies, including middle market private debt, long-short liquid credit, and long-only credit. Providence is headquartered in Providence, RI with additional offices in New York, London, Hong Kong, Beijing, and New Delhi. Visit www.provequity.com for more information. Prudential Fixed Income Prudential Fixed Income manages assets for institutional clients and retail investors worldwide with headquarters in the U.S. (Newark, NJ) and affiliated offices in London and Singapore. We have decades of experience managing credit-related and other fixed income strategies through varied market cycles and environments. As of December 31, 2013, the firm had $405 billion of assets under management including $163 billion in institutional assets, $75 billion in retail assets, and $167 billion in proprietary assets. We have managed fixed income accounts for institutional clients since 1928 and currently manage assets for 22 of the top Fortune 100 companies, 22 of the 100 largest global pension funds, and several sovereign wealth funds, central banks, and large government entities. 1 Prudential Fixed Income is the primary public fixed income asset management unit of Prudential Investment Management, the largest investment adviser within Prudential Financial. As of December 31, 2013, Prudential Investment Management had $870 billion in assets under management across their real estate, equity, public fixed income, and private fixed income businesses and is ranked 8th among IPE's top 400 asset managers. 2 1 Source of Global Pension Fund data: Pension Funds Online 2012 & IPE Top 1000 Global Institutional Investors- 2013. 2 Source: IPE Research-Top 400 Asset Managers, June 2013, based on 12/31/2012 assets under management.

RobecoSAM, Inc. RobecoSAM, a globally recognized investment boutique, believes that Sustainability is a company's capacity to prosper in a competitive and changing global business environment by anticipating and managing current and future economic, environmental and social opportunities and risks by focusing on quality, innovation and productivity to create stakeholder value. Sustainability Investing is a systematic approach that allows identification of high-growth themes and the best-in-class companies to build portfolios that will add value to existing asset allocations. Integrating sustainability factors into traditional investment analysis enables a comprehensive view of companies' long-term value creation. RobecoSAM uses sustainability Foresight, Insight and Translation to foster innovative investment strategies designed with the potential of producing superior results. The firm's offerings include asset management, indexes and private equity. Its asset management capabilities include a range of global equity strategies, including single-theme (Water, Energy, Climate, Materials, Health Living, Agribusiness), and core (Global and European equity) sustainability investment strategies catering to institutional asset owners and financial intermediaries in the United States, Europe, Asia-Pacific and the Middle East. RobecoSAM has partnered with S&P Dow Jones Indexes for the publication and licensing of the globally recognized Dow Jones Sustainability Indexes (DJSI) as well as customized sustainability benchmarks. RobecoSAM private equity offerings focus on middle market European investments and on diversified, global growth opportunities: Resource efficient products and services addressing global supply/demand imbalances of natural resources in manufacturing, industrials, energy, materials, transport, grid stability, renewables, water, recycling, waste, food & agri. Investments can include primary and secondary funds, and co-investments. Based on its annual Corporate Sustainability Assessment, RobecoSAM has compiled one of the world's largest sustainability databases and analyzes almost 2,500 public companies. Our proprietary research and sustainability data are fully integrated into all of its offerings. RobecoSAM is a member of Robeco, the globally operating asset manager, which was established in 1929 and offers a broad range of investment products and services worldwide. RobecoSAM was founded in 1995, is headquartered in Zurich and employs over 100 professionals. As of December 31, 2013, RobecoSAM's total assets under management/license are approximately $12 billion. Saba Capital Management, L.P. Saba Capital Management, L.P. (""Saba"") is a Registered Investment Adviser launched by Boaz Weinstein in April 2009. The firm is a lift-out of the Deutsche Bank proprietary credit trading group which Boaz founded in 1998. Between 1998 and 2009, the group grew to become one of the largest investors in the credit markets and developed new strategies in capital structure arbitrage and relative value credit investing. As of March 2013, the firm manages $5.3 Billion, which includes approximately $4.7 Billion in its flagship credit long/short strategy and $500 Million in its tail hedge strategy. At Saba, Boaz leads a team of 58 professionals; the senior members of the group have worked together for over 10 years. Saba's investment philosophy is to own convexity and optionality throughout the credit cycles. The investment team blends traditional credit research with an analytical approach to trade construction and focuses on identifying dislocations across capital structures. The flagship fund's primary strategies are Credit Long/Short, Capital Structure Arbitrage, and Credit Relative Value. The tail hedge strategy seeks to deliver asymmetric positive returns during periods of market stress and invests primarily in credit default swaps and indices of related to investment grade companies.

Select Equity Group, L.P. Based on Lafayette Street in lower Manhattan since the early 1990s, Select Equity Group, L.P. is an employee-owned registered investment advisor that was originally founded in 1990 as Select Equity Group, Inc. Since the Firm s inception, we have always focused on identifying great businesses through rigorous, fundamental research. Today we manage over $12 billion across both long-only and long/short equity strategies. With over 85 employees and a research staff of over 25, the Firm offers a broad product mix to a diversified global investor base. Senator Investment Group, LP Senator Investment Group LP is a private investment Firm founded in 2008 by Alexander Klabin and Douglas Silverman (the Managing Partners ) to pursue opportunistic investments in distressed debt, value equities, event equities, and special situations. The Managing Partners worked together for six years at York Capital Management before founding Senator. Senator received a substantial initial investment from the Blackstone Strategic Alliance Fund. The Firm s core strength is identifying public market investments across the capital structure that are away from the crowd and private market opportunities that are, in many cases, sole-sourced. The Firm has 28 employees of which 13 are investment professionals. As of April 1, 2014, Senator manages two Funds: Senator Global Opportunity Fund with $7.3 billion in AUM, and Senator Sidecar Fund which has approximately $79 million in AUM and $301 million of committed capital. Serengeti Asset Management Serengeti Asset Management is a New York-based opportunistic value firm that invests across asset classes in debt and equity. Serengeti looks to generate attractive absolute returns by investing in the most compelling risk/reward opportunities through a relatively concentrated portfolio of investments with catalysts for value realization. The firm is managed by Jody LaNasa, a former Goldman Sachs partner who ran a multi-billion dollar proprietary investment business at the firm, Vivian Lau, a former Goldman Sachs Managing Director who assumed management of the GS business following Jody s departure, and Leslie Biddle, a former senior partner at Goldman Sachs and the Global Head of Commodities Sales, CFO of commodity investments, a member of Goldman s Finance Committee and head of the Commodity Risk Committee. Serengeti s deep and experienced investment team is skilled at analyzing significantly undervalued, complex, or misunderstood situations. Serengeti currently manages $1.6 billion of assets. Solus Alternative Asset Management LP Solus Alternative Asset Management LP is an SEC-registered investment adviser with a twelve-year track record providing client solutions in opportunistic strategies, including event-driven, distressed and special situation investments. Solus was founded in June 2007 when the Hedge Fund Strategies Group of Stanfield Capital Partners LLC separated to form an independent firm under the continued leadership of Christopher Pucillo. The entire team and track record remained intact throughout this transition, and as such, dates back to January 2002. In March 2012, Solus added veteran high yield and distressed specialists, Scott Martin and C.J. Lanktree as Portfolio Managers, adding significant depth to Solus' investment platform. Solus currently manages approximately $3.8 billion in assets with a team of 42 employees.

Southpaw Asset Management LP Southpaw Asset Management LP ( Southpaw ) is a $1.3B AUM investment manager focused on opportunistic corporate credit investments primarily in stressed and distressed securities. Southpaw places an emphasis on capital preservation through a disciplined, fundamental, bottoms-up based selection process and intensive risk management. We seek to construct a diversified portfolio of securities with a focus on senior top of the capital structure positions primarily in bank debt, bonds and busted convertibles as well as uncorrelated liquidations and litigations. We seek to identify long and short alpha generating, individual ideas rather than using an asset class based approach. Our disciplined asset growth provides us the freedom to participate in both larger and smaller issues. We excel at exploiting inefficiencies in securities that are under-followed, under-researched and uncorrelated to other portfolios. The investment professionals conduct rigorous analysis of individual long and short positions with a focus on underlying credit characteristics, business fundamentals and specific catalysts. We strictly adhere to a disciplined pricing approach that maintains a buyer s market mentality. We capitalize on deep relationships with broker-dealers to maximize liquidity and execution. In addition, we utilize our expansive network to provide access to limited distribution and below the radar investments. Southpaw Asset Management LP, an event-driven/distressed/special situations focused investment manager, seeks superior risk-adjusted returns through opportunistic investments in inefficiently-priced securities across four sub-strategies: Event Driven These investments are selected based upon an anticipated catalyst (industry-wide and/or companyspecific). The underlying business plays little or no role in the objective and risks associated with the investment. Catalysts include liquidations, litigation, in and out-of-court restructurings, regulatory events, legislative action and asset sales. Special Situations These investments are made in undervalued businesses based upon fundamental credit analysis with specific attention to free cash flow and hard assets. Southpaw retains the flexibility to pursue both large and small capitalization opportunities. Credit Short These investments capitalize on overvalued securities when price no longer correlates to the company s creditworthiness and is driven more by capital inflows within certain asset classes and general competition for assets among investors. Short positions may also be used strategically to hedge certain long positions or as an overall hedge to the portfolio. Capital Structure Arbitrage These investments capitalize on situations where the pricing of different types of securities within the capital structure of the same company become dislocated due to (i) an overreaction to specific credit or industry news or (ii) macro factors such as capital flows or world events. Investment Professionals

Howard Golden- Founder and Portfolio Manager Kevin Wyman- Founder and Portfolio Manager Mr. Golden and Mr. Wyman have co-managed portfolios together for the last 14 years. Prior to founding Southpaw in April 2005, Mr. Golden and Mr. Wyman served as Managing Directors of Ramius Capital Group, LLC since 2000. During their five-year tenure at Ramius, they headed the RCG Carpathia Master Fund, Ltd. and related assets (the Carpathia Funds ). The Carpathia Funds employed a Credit Opportunities/Distressed strategy and had total assets under management in excess of $650 million. The Founders/Co-Portfolio Managers have lengthy" Stelliam Investment Management LP Stelliam Investment Management LP is a privately owned investment firm founded by Ross Margolies in 2007 and based in New York. Stelliam is focused on U.S. long/short equity and long equity investing and applies a fundamentally driven approach to security selection that seeks to identify long and short positions that stand on their own based on each position's individual risk/reward profile. Stelliam's long/short equity strategy began investing on August 1, 2007 and the long equity strategy launched November 1, 2009. Stelliam's 18 employees, including 9 investment professionals, manage approximately $2.7 billion for a predominantly institutional investor base, including public and corporate pensions, endowments and foundations and insurance companies. Stone Lion Capital Partners, LP Stone Lion Capital Partners L.P. ("Stone Lion"), founded in 2008, is a value driven investment manager specializing in the credit markets. Gregory A. Hanley and Alan J. Mintz, the Managing Principals of Stone Lion ("Managing Principals"), each have thirty years of experience in the financial service industry with over twenty years specifically in the distressed space. The Managing Principals have worked together for over fifteen years, seven of which were spent co-managing a proprietary portfolio of investments at Bear, Stearns & Co. Inc. ("Bear Stearns). Most of Stone Lion's employees worked directly for, or with, the Managing Principals for several years at Bear Stearns. In seeking superior risk-adjusted returns, the Managing Principals combine fundamental financial and legal analysis with decades of trading experience. Stone Lion's investment strategy is global and focused on credit opportunities, including but not limited to event driven, high yield, distressed and special situation investments in debt and equity instruments across the capital structure. As of September 1, 2013, Stone Lion manages approximately $1.4bn across two strategies: i) credit opportunities in event-driven, special situations and distressed investments and ii) liquidations, litigations and other process related investments. Symphony Asset Management Symphony is primarily a credit-focused fundamental research-based investor headquartered in San Francisco with an office in New York City. An SEC-registered investment advisor since 1994 with $16.3 billion in assets under management, Symphony offers actively managed portfolios across the credit spectrum - high yield, corporate and convertible bonds, credit default swaps and bank loans - in hedged, long-only and structured products. Symphony concentrates on relative value opportunities and market dislocations to generate alpha, vigilantly managing risk to produce superior risk-adjusted returns throughout market cycles for institutions and family offices. Symphony s portfolio managers and many investment professionals have worked together for a decade.

Taconic Capital Advisors LP Taconic Capital Advisors L.P. is a global event driven multi-strategy investment firm founded in 1999 by two former Goldman, Sachs & Co. partners, Ken Brody and Frank Brosens. Taconic currently manages approximately $8.4 billion in assets between its Opportunity and Event-Driven Funds, each of which offers an offshore and onshore vehicle. The firm employs a bottoms up, research driven investment process across equities, credit and capital structure arbitrage/hedged credit. In addition to its Opportunity and Event-Driven Funds, Taconic launched a $187 million Taconic Market Dislocation Fund II on November 21, 2008 designed to take advantage of the turmoil in credit markets. In February 2013, Taconic launched the $160 million Taconic Sidecar Fund I, its first sidecar/co-investment vehicle, through which it offered additional exposure to a high conviction idea to its existing investors. Taconic currently has 130 employees (inclusive of 45 investment professionals). Taconic's twelve principals share in the profits of the firm, with no principal receiving more than approximately 18% of the profits. Taconic is headquartered in New York and has offices in London and Hong Kong. The D. E. Shaw group The D. E. Shaw group is a global investment and technology development firm with more than 1,100 employees, approximately US $32 billion in investment and committed capital as of May 1, 2014, and offices in North America, Europe, and Asia. Since its founding in 1988, the firm has earned an international reputation for successful investing based on innovation, careful risk management, and the quality and depth of our staff. The firm has a significant presence in the world s capital markets, investing in a wide range of companies and financial instruments in both developed and developing economies. The firm invests globally using a broad array of strategies in both public and private markets. Widely recognized as a pioneer in quantitative investing, particularly in equities, futures, and options, the firm also has formidable expertise in areas that involve fundamental analysis or portfolio manager discretion, such as credit, energy, and macro investing. The D. E. Shaw group s investment capital as of May 1, 2014 included approximately US $9.3 billion managed by D. E. Shaw Investment Management, L.L.C. ( DESIM ) in benchmark-relative equity strategies as well as D. E. Shaw Orienteer Strategy, a multi-asset-class investment strategy. With respect to its equity strategies, DESIM applies the D. E. Shaw group s quantitative models and computational techniques, based on the D. E. Shaw group s twenty-five years of experience in managing alternative investment strategies, to construct U.S. and global long-only and 130/30 benchmark-relative equity strategies for public and private pension plans, endowments, foundations, and private wealth management firms. Tiger Consumer Management, LLC Tiger Consumer has managed a traditional, long/short hedged equity fund for 14 years. The investment objective is to deliver net equity-like returns with much less volatility, independent of equity market performance by maintaining a low net exposure. It is a disciplined, research-driven process supported by proprietary valuation models. Long and short investments are chosen by comparing current market prices with our estimate of intrinsic value. Long and short exposure is monitored from a variety of perspectives (sub-sector, market cap, geography, beta, quality, style, operating and financial leverage, etc.) in an effort to understand and minimize "one-way" bets that may exist in the portfolio. The fund invests only in listed equities and pays close attention to liquidity. The majority of the fund's historical returns have come from alpha, secondly from leverage and less so from beta. As a result, the fund's returns have had a low correlation with returns from other asset classes, including US and international

equities, fixed income and other hedge funds. The firm manages $2.5bn for institutional investors such as corporate and public pension funds, insurance companies, foundations and endowments. Tricadia Capital Management Tricadia Capital Management is an investment firm that manages multi-strategy and specialized credit hedge funds. Founded in 2003 by Michael Barnes and Arif Inayatullah, the firm has 41 professionals with offices in both New York and London, and has approximately $3.5 billion in assets under management. Tricadia's multi-strategy funds are dedicated to the opportunistic allocation of capital across the credit spectrum. The investment team is characterized by its breadth and depth of experience, and is driven by fundamental research and analysis across consumer and corporate credit. Capital is invested dynamically across asset classes including: mortgage-backed securities (both residential and commercial), collateralized debt obligations (including collateralized loan obligations), single name corporate credit investments throughout the capital structure, distressed credit, corporate structured credit (including credit default swaps on corporate credit indices and tranches), credit-related securities, equities and other instruments. The investor base of the firm's investment vehicles includes public and corporate pension plans, insurance companies, foundations and endowments. Tudor Investment Corporation The Tudor Group ( Tudor ) is a privately owned group of affiliated companies engaged in the investment management of client and proprietary assets. Paul Tudor Jones II formed Tudor Investment Corporation ( TIC ), the first of the Tudor Group companies, in 1980. Mr. Jones is the controlling principal and serves as Co-Chairman and Chief Investment Officer of TIC. Since its inception, Tudor has grown from one individual managing client capital into a global investment manager with approximately 40 portfolio managers and/or trading groups covering a diverse universe of investment strategies. As of April 1, 2014, Tudor managed approximately $13.0 billion* across fixed income, currency, commodity and equity asset classes and related derivative instruments and was comprised of 376 personnel from office locations in the United States, the United Kingdom, Singapore and Australia. *Includes assets under management of client funds, notional assets of managed accounts and notional assets of certain Tudor proprietary vehicles. Excludes certain other funds and accounts principally owned by Tudor proprietary entities and Tudor personnel." UBS O'Connor Voya Investment Management Voya Investment Management (Voya IM) is a leading active asset management firm. As of December 31, 2013, Voya IM manages approximately $204 billion* for affiliated and external institutions as well as individual investors. Drawing on over 40 years of experience and an ongoing commitment to reliable investing, Voya IM has the resources and expertise to help long-term investors achieve strong investment results.

Waterfall Asset Management Waterfall Asset Management, LLC ("Waterfall") is a specialist asset manager focused on structured credit and whole loans with approximately $2.5B in assets under management (as of 8/31/2013) and a predominately institutional client base. The Waterfall Eden Funds (collectively, the "Funds") seek to achieve attractive risk adjusted returns through a combination of current income and capital appreciation while minimizing the risk of principal loss. Â We believe the Fund is well-positioned to capitalize on the ~$1T of distressed ABS supply globally resulting from the Credit Crisis through a differentiated "multi-sector" investment approach which seeks relative value across 60 ABS sectors sourced using both negotiated purchases in the secondary market and "direct origination" in the primary market. Watershed Asset Management, L.L.C. Watershed is a credit-focused, value and event-driven asset management firm that was founded by Meridee Moore in July 2002. Its investment objective is to earn attractive, riskadjusted returns over time by investing in debt and equity securities while emphasizing current income and capital preservation. Watershed believes the most attractive risk-adjusted investment opportunities throughout market cycles can be found in industries, companies and assets affected by change. Watershed is distinguished by its disciplined value investment strategy and willingness to embrace complexity and invest in stressed situations and transactions requiring industry, company or asset-specific expertise. Watershed s investment objectives are expressed through its flagship strategy as well as a more concentrated strategy which runs more invested. Watershed is located in San Francisco and manages $1.2 billion. William Blair & Company William Blair & Company, L.L.C. is a Chicago-based, 100% active employee-owned investment firm founded by William McCormick Blair in 1935. The firm has always been conservatively managed; it has a strong balance sheet with no third party debt and all equity comes from the capital investment of the 171 partner-owners. Our Investment Management group uses a research driven investment approach and oversees $62.0 billion in assets (as of 12/31/13). The majority of our client assets have been entrusted to us by financial institutions and institutional plan sponsors including corporations, foundations, endowments, public entities, and Taft-Hartley plans. Our portfolio managers and analysts tend to have long tenures, and most are equity owners of the firm. We continue to innovate, enhance our investment process, invest in technology, and attract the most talented people in the industry. We are committed to building enduring relationships with our clients and providing expertise and solutions to meet their evolving needs. York Capital Management York Capital Management was founded in September 1991 as an investment management firm, with the goal of generating attractive risk-adjusted returns across business and market cycles. Since inception, the Firm has sought to achieve this goal through a combination of focused research and investment selection, coupled with disciplined risk management. Jamie Dinan, York's founder and CEO, has developed the Firm by assembling a cohesive team of talented professionals with complementary backgrounds and diverse skill sets. As of March 1, 2014, York employed 51 investment professionals and

179 total employees globally, located primarily in New York, London, and Hong Kong, and managed approximately $21.1 billion in assets. The Firm's investment professionals possess multi-disciplinary knowledge and relationships across industry sectors, geographies, business cycles and equity and debt markets. York leverages its global platform to employ a multi-strategy, event-driven investment approach, which emphasizes the fundamental analysis of industries and businesses.