/FOR DISTRIBUTION IN CANADA ONLY. NOT FOR DISTRIBUTION IN UNITED STATES OF AMERICA/
Providing access to funds managed by Wall Street Legend, Leon Cooperman
TORONTO, April 21 /CNW/ - Artemis Investment Management Limited is pleased to announce the launch of Pine Street Canada, L.P. (the "Fund") as part of our ongoing mission to bring investors access to world class alternative investment opportunities. The Fund will provide access to Pine Street Associates, L.P., a US based fund of hedge funds featuring Omega Capital Partners, Inc. managed by Leon Cooperman, a pioneer of the hedge fund industry. Mr. Cooperman founded Omega Advisors in 1991 and manages approximately $5 billion in assets. Through the purchase of a 50% interest in Pine Street Associates, L.P. in March 2010, Artemis Investment Management became an Advisor and part General Partner to Pine Street Associates, L.P.. Pine Street Canada is being offered only to qualified purchasers and accredited investors domiciled in Canada through private placement.
"We are excited to partner with Leon Cooperman, an icon in the hedge fund industry and through this new alliance we can offer investors the opportunity to participate in a portfolio of hedge funds not previously accessible to Canadians," stated Claude Robillard, Artemis Investment Management. "The addition of this new fund complements our current hedge fund offerings which focus primarily on the Canadian landscape. We are always pleased to provide our investors with products that dovetail with the Artemis philosophy of capital preservation and wealth creation."
"We are pleased to partner with Artemis and build upon Pine Street's 16 year track record of Investment Success. Artemis's marketing expertise will be an important asset to capitalize on our opportunities for further growth", said Leon Cooperman, Founder of Omega Advisors Inc. and Pine Street Associates, L.P..
About Pine Street Associates, L.P.
Pine Street Associates, L.P. is a fund of hedge funds started in 1994. The fund focuses on high quality managers who have diversified strategies to deliver reasonable returns with modest investment risk. The fund has delivered a net cumulative average growth rate of 8.4% since inception. The fund manages approximately 140 million dollars and is headquartered in New York. The fund is a U.S. fund and is not being marketed to Canadians, nor is it available for investment by Canadians.
About Omega Advisors
Omega Advisors is one of America's leading alternative asset management firms for institutions, endowments and high net worth individuals. The firm looks to find under-valued equities, as well as fixed income securities and currencies. The company, headquartered in New York, originated in 1991 and manages approximately $5 billion. Omega's annualized performance net of expenses but not incentive fees is approximately 13.73%, since inception.
About Artemis Investment Management
Artemis Investment Management Limited provides investors with the opportunity to achieve world-class portfolio allocation by facilitating efficient access to important investment opportunities with the best of alternative investments. Its mandate is to provide sophisticated investors with access to top quality alternative investments by connecting them with previously inaccessible high-value investment management. Investors in our funds have the opportunity to share in the long-term superior investment returns being generated by the leading managers of private equity and other alternative investment funds. The lineup of funds managed or advised by Artemis Includes The Alpha Scout Fund, The Alpha Scout Canadian Opportunities Fund, and now Pine Street Associates L.P.
Artemis advises assets of approximately 260 million dollars.
SOURCE ARTEMIS INVESTMENT MANAGEMENT
For further information: For further information: Claude Robillard, CMO & Managing Director, (647) 477-4885, email@example.com; Trevor Maunder, VP, Operations, (647) 477-4884, firstname.lastname@example.org; Lisa Conrad, CFP(R), Director, Client Service, (647) 477-4886; Artemis Investment Management, 5 Hazelton Ave., Suite 200, Toronto, ON, M5R 2E1, T: (416) 934-7455, F: (416) 934-7459, www.artemisfunds.ca