• A hedge fund is a private investment portfolio, usually structured as a limited partnership and open only to accredited and qualified investors. The general partner invests the limited partners' capital using a variety of securities and investment strategies. The general partner charges an incentive fee based on performance results. Because strong results are highly profitable to the general partners, hedge funds attract talented investment professionals.

• We select hedge funds based on strict adherence to an investment style, limited use of leverage, quality of the investment team, adequate risk control measures and strong historical performance results. We communicate frequently with the fund managers and replace managers that do not perform as expected.

• We offer access to hedge funds on a fund-by-fund basis and not a fund-of-funds basis as do most other firms. Accordingly, our clients can access a diversified list of hedge funds whose minimum investment requirements might otherwise be beyond the reach of many individuals and small institutions.

Private Equity
• Private Companies - attractive opportunities can exist in the private sector, which we believe can offer higher potential returns, at lower valuations, than the public equity market. We have made more than 25 private company investments since 1993 primarily in the telecommunications and technology sectors.
• Private Equity Funds - we utilize private equity funds to allow clients access to manager specific expertise and to provide a portfolio with a diversified selection of private companies in high-growth industry groups, such as technology, healthcare and alternative energy.