Boca Raton, FL. January 2, 2006 \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u0153 Crescent City Capital Advisors, L.L.C. (CCCA) announced that they have launched the Crescent City Dedicated Short Fund, L.P., a short-biased hedge fund.<\/p>\n
Crescent City Capital Advisors L.L.C. is an alternative strategy asset management company. CCCA manages hedge funds and fund of funds focusing on quantitative trading strategies, providing services to institutional and high net worth individuals.<\/p>\n
\u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cThe Crescent City Dedicated Short Fund, L.P. uses our proprietary quantitative strategies and targets positive returns with low drawdowns and a negative correlation to U.S. equity markets. Our statistically proven approach to trading allows for a disciplined investment process which focuses on strong volatility-adjusted returns and preservation of capital. Using this approach we are creating a true dedicated short fund that will never have long equity exposure,\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d said Seth Weinstein, CCCA portfolio manager.<\/p>\n
The fund is domiciled in the United States and charges a 1% management fee and a 20% incentive fee. The minimum investment is $250,000. This fund began trading in January of 2006 with a partner base of investors including an established fund of funds and various high net worth individuals.<\/p>\n
The new fund allows for quarterly additions and redemptions, with a one year lock-up provision. Penson Financial will provide prime brokerage services while Spicer Jeffries LLP and Fund Solutions will handle the accounting and administrative functions respectively. The new fund has also enlisted the services of Michael Hoffman, Esq. as the legal Counsel. Crescent City Capital Partners is also listed on hedge fund database, HedgeCo.Net.<\/p>\n
For further information, contact:<\/p>\n
Seth Weinstein<\/p>\n
Crescent City Capital Advisors, L.L.C.<\/p>\n
Tel. (561) 988-6320 Fax. (561) 988-5537<\/p>\n