Levcap Alternative Master

Fund LP

Fund Investment Objectives

The Levcap Alternative Fund (LAF) was launched January 1, 2010 to lever off our experience and abilities in managing event driven strategies. The fund's two principals have over 20 years of collective event driven investing experience. The goal of the Fund is to produce positive absolute returns in all market environments through the investment in event driven situations. The Fund is focused on the risk/reward of each portfolio position and positions are sized to an expected worst case outcome. Event-driven investing aims to exploit inefficiencies that may occur in the pricing of a company's securities before or after a corporate event, such as a merger, acquisition or spin-off. The Fund focuses on two types of event-driven investment opportunities; 1) Merger Arbitrage, a strategy that involves investment in companies engaged in mergers, acquisitions, offers and other transactions. 2) Special Situations, a strategy that seeks to capitalize on other corporate catalysts, including spin-offs, post bankruptcy reorgs, material divestitures and restructuring.