Grey Value Management, LLC

Grey Value Management oversees the Grey Value Opportunity Fund (the “Fund”), a concentrated portfolio comprised of rigorously researched positions that seeks to maximize absolute returns. The Fund focuses on value-oriented equity investments but may also include short positions, special situations, distressed and reorganized securities, event-driven investing (including merger arbitrage), and capital structure arbitrage. The portfolio is not limited with respect to security type, and may include various instruments, such as equity, debt, options/derivatives, etc. Portfolio risk management is primarily a function of investment choice and diversification; market neutrality is not a key objective.