The Perella Weinberg Partners Xerion Fund seeks to deploy a consistent and fundamental investment process incorporating valuation discipline to uncover and take advantage of long and short event-driven opportunities across both credit and otherwise out-of-favor or overlooked Special Situations equities. The Fund's investment objective is to achieve attractive absolute risk-adjusted returns. The Fund uses a multi-strategy investment approach, focused on the entire capital structure of companies. Broadly, the investment criteria are designed to identify fundamentally attractive investment opportunities of all kinds as influenced by a medium term view of macro and market developments while targeting attractive absolute returns with minimum correlation to broadly based stock and bond indices. The broad philosophy behind our strategies seeks to draw on fundamental valuation skills to identify opportunities that offer the potential for asymmetric returns-downside protection with upside potential. These same skills and approach apply whether we are investing long in distressed credit or undervalued assets, or shorting overvalued credit. Our goal in all cases is to provide Alpha to our investors with minimal impact from broader equity and credit market volatility. This fund also has an onshore entity. AUM is not disclosed as of 3/2013.