Litespeed is a distressed/special situations/merger arb fund that finds value in distressed debt and equity, particularly companies filing for bankruptcy, undergoing restructuring or targeted for acquisition or merger. The portfolio’s daily correlation to the S&P 500 has averaged .25 to .30, however, while the aggregate portfolio exhibits sensitivity to the market movements on a mark-to-market basis, the ultimate returns on the individual reorgs, spinoff, strategic reviews, and other situations in the portfolio are dependent on discrete events and not on the overall market direction. Eb’s career spans hedge fund sales and marketing alternatives to institutions globally, as well as structuring derivative strategies. Eb spent six years on the professional rodeo circuit and is an avid kite surfer traveling the world on his time off to find that perfect combination of wind and wave.
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