THOMAS A. McKAY

Tom McKay is the owner and portfolio manager. He originally formed the funds in 1989 after leaving S.B. Lewis & Co., a merger arbitrage firm that focused in part on bankruptcy investments. Before that he was the treasurer of Anglo Energy Limited, an oil services company that filed for Chapter 11 in the Southern District of New York in 1983 and emerged from bankruptcy proceedings in 1986 having changed its name to Nabors Industries, now the largest onshore drilling contractor in North America. He was a credit officer at J.P. Morgan & Co., Inc. for eight years before that. He served three years as a lieutenant in the US Navy and received an MBA from Harvard and an AB from Princeton.

ANDREW S. LIPMAN

Andy Lipman is the head of research and backup portfolio manager. He joined the firm in 2009 after seven years managing a portfolio of distressed investments for Harvest Management. Prior to working at Harvest, he was a managing director at Schroeder & Co. and ING Barings where he headed distressed debt securities research. He graduated from Princeton and earned an MBA from Yale and a JD from Harvard.

ROGER COHEN

Roger Cohen serves as Chief Financial Officer. He is a Certified Public Accountant with an extensive background in the financial services industry and in public accounting. After ten years with Ernst & Young, he was chief operating officer for Garban LLC, a bond broker, and chief financial officer of Brean Murray, Carret & Co., a boutique broker dealer. More recently, he was a managing director at the Bank of New York where he developed the financial reporting system for G-Trade Services. Roger received an MS in accounting from Wharton and a BS in accounting from Brooklyn College.

MALONE MA

Malone Ma, Associate, is responsible for daily accounting matters. He recently completed his Masters of Science in Finance at the University of Illinois at Urbana-Champaign, and received a BA in Business Administration from California State University, East Bay. He is a candidate for CFA Level I.

JEFFREY E. LIVINGSTON

Jeff Livingston is Counsel and Chief Compliance Officer. He is an independent lawyer with extensive experience in business, government and private litigation practice. He was previously Assistant US Attorney in the Southern District of New York, Criminal Division. He was also Deputy General Counsel of CA, Inc. (Computer Associates International) after it had settled charges brought against it by the Department of Justice. In that capacity, he supervised the company's financial disclosure and compliance with Sarbanes-Oxley 404. He was formerly a member of the board of Telecom Italia S.p.A. where he served on its Audit and Corporate Governance Committee. Jeff received a BA from the University of Rochester and a JD from New York University Law School.