Aetos Capital Launches Four Absolute Return Funds of Funds.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 3, 2002 SEC-Registered Funds of Funds Aimed at Institutional and Private Clients Offer Custom, Diversified diversified (di·verˑ·s Exposure to Absolute Return Strategies Aetos Capital, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , an independent investment management firm serving institutional and high net worth clients, announced today that the firm's Absolute Return strategies unit has launched four funds of funds which have been registered with the Securities and Exchange Commission, each representing a core absolute return strategy, including multi-strategy arbitrage arbitrage: see foreign exchange. arbitrage Business operation involving the purchase of foreign currency, gold, financial securities, or commodities in one market and their almost simultaneous sale in another market, in order to profit from price , distressed investments, equity long/short and market neutral. The registrations became effective September 1, 2002. The multi-strategy arbitrage fund will allocate asset among funds investing in event-driven arbitrage, relative value arbitrage, convertible arbitrage Convertible Arbitrage An investing strategy that involves the long position on a convertible security and a short position in its converting common stock. Notes: and fixed income arbitrage Fixed-income arbitrage is an investment strategy generally associated with hedge funds, which consists of the discovery and exploitation of inefficiencies in the pricing of bonds, i.e. instruments from either public or private issuers yielding a contractually fixed stream of income. . The distressed investment fund will allocate assets among funds investing in securities of companies in various levels of financial distress Financial distress Events preceding and including bankruptcy, such as violation of loan contracts. including bankruptcy, exchange offers, workouts, financial reorganizations and other credit-related situations. The long/short strategies fund will allocate assets among funds investing in high quality investments that combine long positions in undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. common stocks or corporate bonds and short positions in overvalued Overvalued A stock whose current price is not justified by the earnings outlook or price/earnings (P/E) ratio and thus, expected to drop in price. Overvaluation may result from an emotional buying spurt, which inflates the market price of the stock or from a deterioration in a common stocks or corporate bonds. The market neutral strategies fund will allocate assets among funds making investments that attempt to be market neutral with respect to movements in stock and bond markets, and also neutral with respect to industry or size exposure. Aetos' investment team, led by Chief Investment Officer Anne Casscells, will allocate client assets to the four Aetos funds to create a diversified portfolio of absolute return strategies tailored to a client's specific investment objectives. Aetos will also continue to offer clients absolute return solutions through segregated accounts, whereby assets are allocated directly to underlying absolute return managers. James M. Allwin, President of Aetos Capital, said, "We are pleased to bring this absolute return capability to the institutional and high net worth marketplace at this time. Our unique approach to customizing exposure draws on years of collective experience in alternative investment management generally, and in the absolute return area in particular. I am confident these funds represent the best thinking in the business." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Anne Casscells, "We have assembled a team with the depth and breadth of expertise required to analyze the universe of absolute return strategies and managers, as well as assess the associated risks. Our emphasis will be on providing tailored solutions to the investor community and managing risk throughout every aspect of our investing activities. I am very proud of our accomplishments to date." Aetos currently manages $420 million in assets, in both segregated and commingled asset accounts. Aetos Capital, LLC is a world-class investment firm that offers a focused set of investment products to a global institutional and high net worth client base. Aetos is currently structured to directly manage strategies in property, absolute return and private equity markets. |
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