Ridgefield, CT and New York, NY \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u0153 July 10, 2006- Southridge Capital Management LLC (\u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cSouthridge\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d), an investment firm providing capital to growing enterprises internationally, is pleased to announce that a Southridge affiliate has acquired Double Alpha Group LLC (\u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cDouble Alpha\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d).<\/p>\n
Double Alpha, founded in 1994, invests clients\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2 capital in world financial markets utilizing proprietary quantitative trading techniques. The investment goal is to generate risk-adjusted premium returns on the long and short side of the equity market while maintaining a near neutral portfolio. As an innovator in the niche strategy of statistical arbitrage, Double Alpha is continually researching and implementing quantitative models which explain the short term volatility of individual equities. Clients have included high net worth individuals, institutions, fund of funds, pensions and endowments.<\/p>\n
Dante D\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2Orazio, Senior Portfolio Manager of Double Alpha, said, \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201c The Southridge acquisition provides us both a strong capitalization base as well as the proven experience in fund management which will allow us to enhance and accelerate our product offerings.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d<\/p>\n
Charles Zaffuto, former CEO of Double Alpha, said, \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cWe examined many opportunities and realized that a sale to Southridge was the most favorable outcome for our firm and our investor base.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d Mr. Zaffuto will remain active as a Senior Advisor to the firm. Stephen Hicks, Southridge\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s Founder, added, \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cWe continue to expand the firm\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s array of products which we feel match the needs of our dedicated and growing investor base. We believe the timing of this purchase of an equity mean reverting quantitative strategy is just right based on the current macro economic conditions that are creating inefficiencies in the equity markets. We look forward to continuing the expansion of our product line and view the Double Alpha fit as an integral part of that mosaic.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d<\/p>\n
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