Ahab

Opportunities, L.P.

Fund Investment Objectives

The Fund's strategy is to deliver attractive risk adjusted absolute returns by constructing a diversified portfolio of stressed and distressed securities through investments across the capital structure. In pursuit of this objective, Ahab seeks to identify attractively valued investments in distressed debt, high yield debt, distressed equity, private equity, event-driven and opportunistic long equity . Ahab's eight investment professionals practice a bottom-up research approach that focuses on company fundamentals. Emphasis is on a valuation process driven in part by gaining a thorough knowledge of company operations, and management team.