RiverNorth Institutional

Partners, L.P.

Fund Investment Objectives

RiverNorth Capital Partners, LP is a long/short strategy that invests in and seeks to exploit inefficiencies in the secondary market of closed-end funds. Using a combination of active trading strategies such as statistical arbitrage, corporate actions and shareholder activism, the Fund seeks to derive value from the discount and premium spreads associated with closed-end funds. The Fund uses proprietary quantitative models to identify pricing aberrations on a real-time basis. The objective of the Fund is to deliver consistent absolute returns with minimal correlation to the market and strong downside protection characteristics.