Anne Casscells to Join Aetos Capital as Managing Director.

Business Editors

New York, NY--(BUSINESS WIRE)--August 10, 2001

Stanford Endowment Chief Investment Officer

Will Head Aetos' San Francisco Office and

Lead Absolute Return Investment Activities

Aetos Capital, LLC, an independent investment management firm serving institutional and high net worth clients, today announced that Anne Casscells, 42, will join the firm as a Managing Director and will head the firm's absolute return investment activities.

Casscells will leave her current post as Chief Investment Officer of the Stanford Management Company, where she is responsible for the investment of over $9.0 billion in endowment funds and other assets on behalf of Stanford University, to join Aetos.

At Stanford, Casscells oversaw asset allocation and investment policy during a period in which the endowment grew from $3.6 billion to $8.1 billion. She was responsible for public and private equity, hedge funds, real estate and fixed income investments. Casscells is a leading expert in the field of investment management and is a frequent speaker at investment conferences on topics of asset allocation, manager selection and due diligence, absolute return investing, and inflation hedging.

Prior to assuming her position as Chief Investment Officer in 1998, Casscells served for two years as Managing Director of Investment Policy Research for Stanford, where she tripled the size of the endowment's absolute return investment program to $750 million and introduced innovative programs to add value to the endowment's equity and fixed income investments.

Earlier in her career, Casscells worked first as an analyst at Morgan Stanley & Company in New York, and later as a Vice President in Goldman Sachs' fixed income division on the West Coast. Casscells earned a Masters of Business Administration degree from the Stanford Graduate School of Business, where she was an Arjay Miller Scholar, and a Bachelor of Arts in British Studies, cum laude, from Yale University.

James M. Allwin, President of Aetos Capital said, "Anne is an extraordinarily gifted individual with an outstanding reputation in the field of institutional investment management. Her addition to our team is a further step in our strategy of attracting the highest quality professionals and offering a limited number of focused investment vehicles to institutions and high net worth individuals. We continue to believe this is the best way to produce outstanding financial returns and to grow our investment management business."

Michael G. McCaffery, President and CEO of Stanford Management Company, commented, "Anne has been a highly valued member and leader of the SMC team, and she will be missed. I consider Anne to be one of the finest professionals I have had the pleasure to work with."

Looking ahead to her work with Aetos, Casscells said, "I'm excited about the opportunity to return to the private sector and be part of a growing business that is positioned to become a major force in the world of institutional investment management.

I look forward to joining Aetos' enormously talented management team and leveraging my experience and my investment track record on behalf of Aetos, its clients, and its strategic partners."

In reference to her work at Stanford, Casscells said, "I've been privileged to work with some of the most talented and dedicated people I have ever encountered while at Stanford. Together we've succeeded in managing Stanford's endowment to achieve a remarkable rate of growth, most recently through the end of the technology boom and in one of the most difficult market environments in decades."

Aetos Capital, LLC, is an independent investment management firm serving institutional and high net worth clients. It is focused on traditional asset management services, as well as directly managed alternative investment products including private equity, real estate and an absolute return fund of funds.