Former UBS Global Asset Management Executive Launches Global Opportunity Fund

DARIEN, CT--(Marketwire - July 1, 2009) - Brian Singer, who previously managed a $200 billion Global Asset Management multi-asset practice at UBS, today announced the launch of Singer Partners, LLC, a new investment management firm. At the firm, Singer will lead a team of experienced, highly respected industry thought leaders. Singer is the current chair of the CFA Institute Board of Governors, serves on the Exeter College at Oxford University Endowment Investment Committee and is Chairman of the Milton Friedman-inspired organization "Free to Choose." The formation of Singer Partners is Mr. Singer's reemergence into the financial services industry after leaving UBS in 2007.

Singer Partners believes that we are at a point in time where institutions and individual investors are looking for investments that are transparent, liquid and consistent, and for asset managers whose interests are appropriately aligned with their own. That is the motivation for forming Singer Partners, LLC with an investment team that has worked together for a decade to provide a fundamental, long-horizon approach to global asset allocation and risk management.

Singer Partners' strategy, known as Global Opportunity, is built upon the fundamental heritage of global asset allocation and risk management begun at Brinson Partners, Inc., and time-tested over 27 years. The strategy relieves investors of the burden of having to choose between market risk and active risk. Singer Partners will dynamically navigate between the two, employing a process where total portfolio risk is managed in accordance with the investment return opportunities the firm identifies.

"Our goal with this firm is to ensure that all risk is understood, intended and compensated," said Mr. Singer. "We have assembled a team with integrity and skill, and these factors will contribute to an exceptional investment firm. The strategy is fit to endure bull and bear markets by strictly adhering to a time-tested fundamental investment discipline that seeks to deliver superior risk-adjusted results over time."

The leadership at Singer Partners will be rounded out as follows:

--  Edwin Denson and Thomas Clarke will lead the investment team. Edwin is
    former Head of Asset Allocation and Managing Director of UBS Global Asset
    Management. Thomas is former Head of Currency Analysis & Strategy and
    Managing Director of UBS Global Asset Management.
--  Edouard Senechal will be risk manager and Renato Staub will serve as a
    consultant to the firm on risk management. Edouard is former Senior Risk
    Manager and Executive Director of UBS Global Asset Management. Renato Staub
    is former Senior Asset Allocation and Risk Analyst and Executive Director
    of UBS Global Asset Management.
--  Sebastian Cassetta will be Chief Operating Officer. Sam is former
    Senior Managing Director and COO of Barington Capital Group, L.P. and
    former Vice President and Director of Brinks, Inc.
--  Michael Jacobs will be Chief Compliance Officer and General Counsel.
    Mike is a former partner and general counsel for Adams Street Partners.
    

With its formation, the firm announced the launch of an offshore and a domestic fund for its Global Opportunity capability. Singer Partners will begin investment operations in August and will manage assets for public and private institutions and high-net-worth individuals around the world. The firm will operate with offices in Darien, Connecticut; Winnetka, Illinois; and London.

Brian Singer has been a longtime devotee of the investment strategies of Gary Brinson, formerly of Brinson Partners. Brinson, Singer and Gilbert Beebower co-authored the landmark update to the pioneering study on asset allocation, "Determinants of Portfolio Performance II: An Update."

Denis Karnosky, former Head of Asset Allocation at Brinson Partners, stated, "If I were starting an asset management firm today, I would be using the exact strategy that Singer Partners will be implementing for its investors." Karnosky continued, "Brian has a solid track record and an excellent understanding of how markets perform over time, which sets the right tone for this investment strategy right now."

In addition, as part of Singer Partners' support for high integrity in the industry, the firm will become a Registered Investment Advisor (RIA) and adopt the CFA Institute Asset Manager Code of Professional Conduct, the highest professional integrity and ethical standards in the industry and the only industry code with required adherence to each of the ethical and professional principles set forth. The firm believes that ethical asset management -- including a strong compliance process, leadership by example from firm management, and competence throughout the organization -- has never been more important. The CFA code is designed for asset managers who aspire to the highest level of integrity.

FOR MORE INFORMATION: www.singerllc.com

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Contact Information: Contact: Meghan Sherman 212-784-5715 Meghan@GroupGordon.com