As a multi-strategy platform, we seek to build investment vehicles that leverage our specific areas of expertise and track records. We are focused on investing in areas where there is the opportunity for enduring alpha generation, and on working with groups and individuals that have demonstrated their ability over different business cycles. Our strategies do not compete with one another. While all our strategies are targeted, our investment teams collaborate when appropriate, participate in firmwide risk discussions, and share an infrastructure platform. This approach allows each team to focus on its opportunities while having the benefit of other market perspectives.