SUB-ADVISORY AGREEMENTSub-Advisory Agreement • December 1st, 2005 • Aip Alternative Strategies Funds • New York
THIS AGREEMENT is made and entered into as of this 1st day of September, 2005, by and between Alternative Investment Partners, LLC, a Delaware limited liability company (the “Adviser”), AIP Alternative Strategies Funds, a Delaware business trust (“AIP Funds”) and Apis Capital Advisors, LLC, a Delaware limited liability company (“the Sub-Adviser”) regarding Alpha Hedged Strategies Fund, a series of AIP Funds (the “Fund).
