Contact: James Fingeroth/ Ruth Pachman (212) 521-4800 JOHN A. LEVIN & CO. ANNOUNCES WIND-UP OF EVENT DRIVEN INVESTMENT VEHICLES -FIRM SAYS IT REMAINS COMMITTED TO ALTERNATIVE INVESTMENT STRATEGIES- -------------------------------...News Release • October 18th, 2005 • BKF Capital Group Inc • Investment advice
NEW YORK, October 18, 2005 - John A. Levin & Co., Inc. announced today the anticipated departure in the first half of 2006 of the senior portfolio managers of its event-driven investment strategy. The Company stated that, as a consequence, the portfolios of its event-driven investment vehicles will be liquidated and the funds will be returned to investors in a timely fashion. The liquidation will be conducted by the existing event-driven portfolio management team. As of June 30, 2005, Event Driven assets under management represented approximately 17% of total assets under management. For the six months ended June 30, 2005, Event Driven Investment Management Fees and Incentive Fees represented approximately 44% of total advisory revenue.
