AIP-Kingsmont Awarded New Fund Mandate

TORONTO, July 5, 2012 /CNW/ - Alternative Investment Partners Inc., AIP-Kingsmont Fund I GP, LLC and Kingsmont Investment Management Inc. (together, "AIP-Kingsmont") has been awarded a new mandate and became the new General Partner and Portfolio Manager for a hedge fund (the "Fund").

The Fund was previously managed by Pearl and McKinney L.P. and its principal Charles Tate, a well known portfolio manager and founder of Hicks, Muse, Tate & Furst which was involved in more than 400 transactions with a total capital value of approximately $50 billion.

Alternative Investment Partners Inc. was instrumental in putting this transaction together and an agreement was signed in June 2012. A new executive team composed of Paget Warner, Alex Kanayev and Jay Bala will assume responsibility for management of the Fund's portfolio.

SOURCE AIP Hedge Funds

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