Gracie Asset Management

GRACIE ASSET MANAGEMENT OVERVIEW

Founded in 2004, Gracie Asset Management (“Gracie”) currently manages a growing family of multi-strategy credit hedge funds. Gracie’s flagship funds, the Gracie Credit Opportunities Funds (the “Funds”), seek to provide above-average risk-adjusted returns and preserve capital under varying market conditions while maintaining uncompromising integrity and transparency across the business.

Gracie’s differentiated investment approach combines long/short investing across the credit spectrum with a macro overlay designed to capitalize on all stages of the credit cycle. Gracie’s investment process is driven by a rigorous, bottom-up approach to fundamental research focused on identifying idiosyncratic investment opportunities balanced by a top-down macro overlay used to insulate the portfolio across business cycles. The Funds invest globally in a broad range of instruments, including credit derivatives, bonds, bank debt, structured products, OTC products and indices.

The Funds are managed by James Palmisciano (Chairman and Chief Investment Officer), Michael Robertson (Portfolio Manager), and Alex Koundourakis (Head of Credit Trading). Gracie Asset Management was acquired by and became part of the asset management business of Moelis Asset Management (formerly Moelis & Company Holdings LP) in 2010 and is based in New York.

GRACIE ASSET MANAGEMENT LEADERSHIP TEAM

JAMES PALMISCIANO
Chairman and Chief Investment Officer
T) 1 212 527 8227
palmisciano@graciecap.com

Mr. Palmisciano serves as Chairman and Chief Investment Officer of Gracie Asset Management and chairs its Management Committee. Prior to joining Gracie Asset Management in 2005, Mr. Palmisciano was a Managing Director and Co-Head of CLCM, a proprietary, multi-strategy credit fund within Calyon. Prior to joining Calyon/CLCM in 2003, Mr. Palmisciano was Director of Credit Derivatives Strategy at Deutsche Bank in New York, where he was a top-ranked credit derivative strategist and sell-side research analyst covering REITs and real estate. Mr. Palmisciano was also responsible for fundamental research for Deutsche Bank’s proprietary credit trading operation and managed a joint venture between the credit derivative and commercial mortgage backed securities groups. Prior to joining Deutsche Bank in 1999, Mr. Palmisciano spent nine years as an Analyst covering the financial sector at Moody’s Investors Service, the Federal Reserve Bank of NY and the FDIC. Mr. Palmisciano serves as Chairman of The Picture House Regional Film Center and as a board member of County Harvest, Inc., a non-profit hunger relief organization. Mr. Palmisciano holds an M.B.A. with honors from Fordham University and a B.S. in Finance from the State University of New York at Buffalo.

MICHAEL ROBERTSON
Portfolio Manager
T) 1 212 527 8230
robertson@graciecap.com

Mr. Robertson serves as Portfolio Manager and member of Gracie Asset Management’s Management Committee. Prior to joining Gracie Asset Management in 2005, Mr. Robertson was a Managing Director at Calyon/CLCM. Prior to joining Calyon/CLCM in 2003, Mr. Robertson was a sell-side and desk research analyst at UBS. Prior to joining UBS in 2000, Mr. Robertson was an industrials analyst at Paine Webber from 1997 to 2000 and at Deutsche Bank from 1995 to 1997. Prior to Deutsche Bank, Mr. Robertson worked as an analyst at Kidder Peabody and at Standard & Poors. Mr. Robertson holds an M.B.A. from Columbia University and a B.A. in Finance from the University of Texas. Mr. Robertson is a CFA charterholder.

ALEX KOUNDOURAKIS
Head of Credit Trading
T) 1 212 527 8234
koundourakis@graciecap.com

Mr. Koundourakis serves as Head of Credit Trading and member of Gracie Asset Management’s Management Committee. Prior to joining Gracie Asset Management in 2005, Mr. Koundourakis was a Managing Director, Founding Member and Execution Trader at Calyon/CLCM. Prior to joining Calyon/CLCM in 2002, Mr. Koundourakis was Vice President of integrated credit sales at Merrill Lynch. Prior to joining Merrill Lynch in 2001, Mr. Koundourakis was a senior broker and Global Head of the Credit Derivative Business at Cantor Fitzgerald from 1995 to 2001. Mr. Koundourakis holds a B.A. in Political Science from Western Maryland College.

GRACIE ASSET MANAGEMENT CONTACT INFORMATION

Gracie Asset Management Map and Directions — Click to open a larger map

For further information please contact:
Sam Konz
Chief Financial Officer
Gracie Asset Management
T) 1 212 527 8204
konz@graciecap.com

Gracie Asset Management (“Gracie”) is a multi-strategy credit manager which was acquired by and became part of the asset management group of Moelis Asset Management in 2010. Moelis Asset Management (formerly known as Moelis & Company Holdings LP) was formerly the parent of Moelis & Company LLC, a registered broker dealer. In connection with the initial public offering of the advisory business of the Moelis group, Moelis Asset Management retained ownership of its subsidiary entities at the time. Moelis & Company LLC became an indirect subsidiary of Moelis & Company (NYSE: MC). Moelis Asset Management and Moelis & Company are separate legal entities. Kenneth Moelis remains the ultimate controlling shareholder of both Moelis Asset Management and Moelis and Company. Moelis Asset Management is not registered with the SEC or any regulatory authority.

Gracie is registered as an investment adviser with the U.S. Securities Exchange Commission under the Investment Advisers Act of 1940, as amended, and is affiliated with Freeport Financial Partners LLC, a middle market direct lending firm, Moelis Capital Partners LLC, a private equity firm, and Steele Creek Investment Management LLC, a CLO collateral manager. The information herein constitutes neither an offer to sell nor a solicitation to invest in the Gracie Credit Opportunities Funds (the “Funds”). Offers to sell or solicitations to invest in the Funds are made only by means of a confidential offering memorandum to sophisticated investors meeting certain suitability standards who fully understand and are willing to assume the risks involved and in accordance with applicable securities laws. The information herein is believed to be accurate as of the date hereof. No representation or warranty is made to its continued accuracy after such date.