Kawa Onshore Feeder Fund,

LLC.

Fund Investment Objectives

The Kawa Fund is an event-driven special situations hedge fund that aims to achieve absolute double digit annualized returns over multiple market cycles with special emphasis on capital preservation. With an onshore and an offshore feeder structure, the fund is not restricted by asset classes or specific constraints. The Kawa fund pursues its mandate by looking at every tradable market and investing in securities that we feel have significantly deviated from their intrinsic value. In exchange to this broad mandate, the fund provides Investors with full transparency and easy access to current portfolio positioning. With most investments concentrated in G7 assets, the investment team targets securities and themes that are generally unique and fit our target risk/reward profile. While the Kawa Fund is a multi-strategy special situations hedge fund, over the years we have specialized in Asset Backed Securities, turnaround situations in fixed income and esoteric credit in general. In addition the fund conducts a macro overlay strategy based on its global macro views, taking positions in equity indexes, currencies and interest rates.