Sep 20, 2006

Park Hill Adds New Hedge Fund Unit

New York/London; September 20, 2006: Park Hill Group, the global alternative asset placement agency, has announced the establishment of a new hedge fund unit to complement its existing private equity business. This new hedge fund unit will be headed by Alexander Moomjy and Patrick Daly in New York and Peter Mayer in London, all formerly of Credit Suisse’s Private Fund Group. They are joined by senior distribution executive, Annie Belanger, formerly of Conquest Capital, in New York. Also joining are Paul Hudson, Bradley Barr and Michael Prasad.

Park Hill will also be expanding its private equity business with the addition of two London-based partners - Christopher Leach and Justin Bower, both formerly of UBS Private Funds Group. Additionally, Rafic Said, formally of Goldman Sachs, is joining the London team and will focus his efforts primarily on Middle Eastern investors.

Dan Prendergast, Managing Partner of Park Hill Group, said; “With Park Hill successfully raising funds in the private equity space, establishing a team to focus on the robust hedge fund industry is a natural evolution. We have built a team with unique capabilities and talents that allows us to provide investors with top quality alternative investment opportunities. We are well positioned to realize our goal of becoming the premier boutique global placement agency.”

Stephen A. Schwarzman, Chairman, CEO and Co-Founder of The Blackstone Group, a minority investor in Park Hill, said; “We are delighted with the enormous success of Park Hill thus far. This seasoned team of professionals has certainly made its mark on the alternative asset fundraising arena. The addition of its hedge fund unit and these very experienced private equity professionals will allow Park Hill to continue representing top-tier alternative investment funds while serving the investor community’s alternative investment needs.”

Park Hill has recently successfully completed assignments for Wayzata Opportunities Fund, Blackstone Capital Partners V, Blackstone Mezzanine Partners II and Centerbridge Capital Partners and is currently in the market with other mandates it expects to close shortly.