III Relative Value Credit

Strategies Fund L.P. Series 5

Fund Investment Objectives

III Relative Value Credit Strategies Fund L.P. attempts to achieve superior risk-adjusted returns primarily through leveraged trading in a broad range of financial instruments and other investments, which may include U.S. and non-U.S. government, agency and corporate fixed-income securities, convertible bonds, equity indices, mortgage-backed and asset-backed securities, foreign currencies, commodity and financial futures, repurchase and reverse repurchase agreements, interest rate swaps and caps, credit default swaps, credit default tranches, constant maturity credit default swaps, recovery locks and other credit-related derivatives, other over-the-counter derivatives (including commodity swaps and other commodity derivatives), commercial paper, rights and options on any of the foregoing, and other investments, assets or property selected by the Advisor. The Fund currently invests all or substantially all of its assets into III Relative Value Credit Strategies Hub Fund Ltd.