Eden Fund, Ltd.

Fund Investment Objectives

Waterfall Eden is a `multi-strategy' Asset Backed Securities (`ABS') fund focused on high-yield and distressed ABS opportunities. The fund looks across the spectrum of 60+ ABS sub-sectors seeking to identify the best `relative values' emphasizing both negotiated purchases of distressed ABS in the secondary market and direct origination in the primary market. In addition, the fund differentiates itself through the active use of shorts and the limited use of leverage provided by a proprietary term-funding vehicle. The fund is uniquely positioned to capitalize on the projected approximately $750 billion in new distressed ABS supply resulting from the 2007-8 Global ABS Crisis through investment in 20+ ABS sectors in 15+ countries.