The GrayFin long short hybrid capital strategy (the “GrayFin Strategy”) seeks to extract differentiated, absolute returns from capital appreciation and tax advantaged income through long and short investments across the capital structure of financial services firms and other global issuers of capital securities, primarily consisting of preferred securities. James Palmisciano, Chairman and Chief Investment Officer of Gracie Asset Management (“Gracie”) and Eric Felder, Moelis Asset CEO, share responsibility for managing the GrayFin Strategy. Gracie maintains a full institutional infrastructure including investment professionals and dedicated staff focused on legal, compliance, middle/back office and accounting/financials in support of the GrayFin Strategy and its family of multi-strategy hedge funds.