Multi-Manager Strategy

Overview
The Multi-Manager Strategy focuses on investing in hedge funds primarily in distressed, special situations and deep-value or event-driven strategies.

As of June 30, 2010, the firm’s assets under management allocated to the Avenue Multi-Manager Strategy were estimated to be approximately $233 million.

Approach
The strategy intends to allocate its assets to portfolio funds that invest in a wide variety of instruments across asset classes and sectors focused primarily on distressed, special situations and deep-value or event-driven strategies. Avenue’s experienced investment team seeks to invest with managers that have proven expertise investing in distressed opportunities throughout the distressed cycle. 

The strategy generally targets managers focused on:

• Distressed securities
• Bank debt
• High yield debt
• Restructured and post-reorganization equities
• Event-driven situations
• Private lending
• Hedged strategies
• Trade claims

Senior Management Team
The Avenue Multi-Manager Strategy is managed by a team of senior investment professionals who have spent virtually their entire careers in the distressed debt and securities markets or fund of funds market. The senior management team includes: