KNOWLEDGE PARTNERS

Casey, Quirk & Associates LLC ("Casey Quirk") is a management consulting firm that focuses exclusively on serving investment management organizations. Our mission is "to work with our clients and partners to build great investment management companies." The firm, founded in February 2002 by the senior principals of Barra Strategic Consulting Group, draws on over 20 years of experience advising asset management companies. Based in Darien, Connecticut, Casey, Quirk & Associates is led by its four founding members. John Casey, founder of both RogersCasey and Barra Strategic Consulting Group, serves as the firm's Chairman. The other founding members include David Bauer, Jeb Doggett, and Kevin Quirk, all of whom have worked as a team since the mid-1990's. A new partner, Yariv Itah, was appointed in 2006; and Ben Phillips was appointed partner and director of research in 2008. The firm's services include:

• Firm Evaluation & Business Strategy Design
• M&A/Transaction Advisory
• Strategic Investments & Partnerships
• Investment Monitoring Advisory Services
• Ongoing Strategic/Business Advisory Services

Our broad knowledge of the marketplace is unique, and we are committed to continually researching the industry. Our members have authored many leading industry white papers including: Success in Investment Management: Building and Managing the Complete Firm (with Merrill Lynch in June, 2000), Style is dead. Long live style! (August, 2001), Fund of hedge funds-Rethinking resource requirements (September, 2001), The Search for Investment Quality-A Survey of Investors, Consultants, and Managers (May, 2003), Success in Investment Management: Three Years Later (with Merrill Lynch in October, 2003), Institutional Demand for Hedge Funds: New Opportunities and New Standards (with The Bank of New York in September, 2004), 2005 Business Benchmarking Survey: Long-Term Incentive Alignment Drives Success (with McLagan in July, 2006), Institutional Demand for Hedge Funds 2: A Global Perspective (with The Bank of New York in October, 2006), The Brave New World: Winning Product Strategies for a Changing Global Market (with Merrill Lynch in September, 2007), Crisis in Asset Management: Industry Profitability Under Siege (with McLagan in November, 2008), The New Gatekeepers: Winning Business Models for Investments Outsourcing (December, 2008), The Hedge Fund of Tomorrow: Building an Enduring Firm (with The Bank of New York Mellon in April, 2009), and Target-Date Retirement Funds: The New Defined Contribution Battleground (November 2009).

Our members use proprietary strategic frameworks, leading investment analytic tools, and broad market perspective to support our advisory services. The firm's members have broad experience working in all of the major global markets, in all of the industry's primary market segments, and in every asset class.