Background and History

• Registered Investment Advisor founded in 1999 by three principals:
  • Robert F. Hill, Jr. - Chief Executive Officer
  • Russell Brooks
  • Michael P. Painchaud

• CalPERS Manager Development Program – March, 2001

  • Third firm funded under CalPERS MDP

  • Only firm funded de novo under CalPERS MDP

  • Infusion of working capital

  • CalPERS allocated $100 million for a Midcap mandate.

• Ownership: Principals and Employees own 60% of firm

• Investment Products – Total AUM = $325 million

  • Midcap US Equity – $298 million
    Benchmarks = Predominantly Russell Midcap^® Index
    Established July, 2005
    Original Midcap strategy established in April, 2001
    converted to Russell Midcap^® benchmark in April, 2007

  • Large Cap Value US Equity – $16 million
    Benchmark = Russell 1000^® Value Index
    Established February, 2006

  • 130/30 Alpha Extension – $11 million
    Benchmark = Russell 1000^® Index
    Converted from Market Neutral - June, 2007