Event-Driven • Opportunistic

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Firm Overview

Standard General L.P. is an SEC-registered investment adviser founded in 2007 by Managing Partner and Chief Investment Officer Soohyung (“Soo”) Kim.

Standard General employs an event-driven and opportunistic strategy, taking a private equity-like approach to invest in public companies while shorting equities and credit to generate alpha and manage risk during periods of market volatility. We seek opportunities across the capital structure at the intersection of public and private markets, investing opportunistically and dynamically in debt and equity securities. We believe this approach can generate a differentiated and uncorrelated return stream.

Standard General is based in New York City and oversees assets for institutional investors, high-net-worth individuals, and employees. Soo Kim leads a diverse, highly experienced 17-person team, including seven investment professionals. The investment team has decades of experience in the financial markets, specializing in distressed and special situations investing.

Investment Philosophy

Opportunistic

We are event-driven and opportunistic, seeking companies with dislocated valuations where we believe we can help resolve issues that create a valuation overhang.

Mid-Market Focus

We believe the best risk-adjusted returns can be found in the middle markets, where there is less competition, and it is easier to enact change.

Investing “In the Seams”

To isolate attractive investment opportunities, we look “in the seams,” at the intersection of debt and equity, as well as the intersection of public and private markets, where there is less competition.

Seeking Influence

We target control positions in public companies, as this provides access to better information and the ability to work constructively with management to reposition businesses and address operational inefficiencies.

Dynamic Hedging

We short equities and credit to generate alpha and dynamically hedge our portfolio during periods of market volatility.

Our Team

AllExecutive TeamInvestment TeamOperationsExternal Relations
Mr. Kim is the Firm’s Managing Partner and Chief Investment Officer. He has worked in the hedge fund industry since 1997, specializing in distressed and special situations investing. Prior to founding Standard General in 2007, he was one of the Founding Partners and Director of Research of Cyrus Capital Partners, a Principal at Och-Ziff Capital Management and an analyst at the Bankers Trust Company. Mr. Kim currently serves as Chairman of the Board of Directors of Bally’s Corporation (NYSE: BALY).  He also serves as a Director of Pursuit Transformation Company, a Director and Treasurer of the Cary Institute of Ecosystem Studies, a Director of Wethersfield Foundation, and the President of the Stuyvesant High School Alumni Association. Mr. Kim was inducted into the GAMCO Investment Management Hall of Fame in 2016 and won American Executive of the Year at the Global Gaming Awards in 2021. He holds an A.B. from the Woodrow Wilson School of Public and International Affairs at Princeton University.
Mr. Cho joined Standard General in 2010. He is a Partner and Research Analyst. He was formerly a portfolio manager at the LeFrak Organization, which he joined in 2007. Prior to that, Mr. Cho was an investment analyst at Steadfast Financial LLC from 2002 to 2006 and an investment banking associate at Morgan Stanley, which he joined in 1998. Mr. Cho holds an A.B. from Princeton University.
Mr. Glazek joined Standard General in 2008. He is a Partner and Portfolio Manager. His responsibilities include analyzing, sourcing, and executing investment opportunities, as well as helping companies Standard General controls or influences with operational, transactional, and financing needs. He was formerly an investment banker at Lazard Frères & Co., where he focused on mergers and acquisitions and corporate restructurings. He has also worked at the Blackstone Group. Mr. Glazek currently serves as a Director of Workers Benefit Fund, Inc., Turning Point Brands, Inc. (NYSE: TPB), and National CineMedia, Inc. (NASDAQ: NCMI). He is also an Adjunct Professor at Columbia Business School, where he teaches Value Investing in Private Credit. He holds a B.A. in Economics and Political Science from the University of Michigan and a J.D. from Columbia Law School.
Mr. Marchitto joined Standard General in 2009. He is a Partner and the Controller. He was formerly the Controller at Gruss & Co., a multi-strategy hedge fund. Prior to that, Mr. Marchitto was the Controller at Latigo Partners, L.P., an event-driven credit hedge fund, a Fund Controller at Reservoir Capital Group, and was Manager of Finance and Accounting at GoldenTree Asset Management. He began his career in 1999 with the accounting firm of Arthur Andersen LLP. Mr. Marchitto holds a B.S. in Accountancy from Villanova University and is a Certified Public Accountant in the State of New York.
Mr. Mause joined Standard General in 2009 as a Partner and Chief Financial Officer. He is responsible for accounting, operational, regulatory, and legal aspects of the Firm. Mr. Mause has been working in the financial services industry since 1998. He was formerly a Partner and Chief Financial Officer of Latigo Partners, L.P. where he also served as the Firm’s Chief Operating Officer. Prior to Latigo, Mr. Mause was the Controller at King Street Capital, where he helped build the accounting, finance, and operational infrastructure during a period of rapid growth. Prior to joining King Street, he spent four years in public accounting at both Loeb and Tropper and Goldstein Golub Kessler American Express. He holds a B.S. in Accounting from Brooklyn College and is a Certified Public Accountant in the State of New York.
Ms. Mircheva joined Standard General in 2015. She is a Partner and Research Analyst. She was previously a Senior Research Analyst at Perella Weinberg Partners Asset Management from 2009 until 2015. Prior to that, Ms. Mircheva worked as a Vice President in Distressed Principal Investing at Goldman Sachs. She joined the Goldman Sachs Investment Banking Division as an analyst in 2001. Ms. Mircheva is currently a member of the Board of Directors of White Energy, Inc. She holds a B.A. in Economics from Colgate University.
Ms. Steiner joined Standard General in 2014 and is a Partner, the General Counsel and Chief Compliance Officer. She was formerly the General Counsel at Young Broadcasting, LLC. Prior to that, Ms. Steiner was an Assistant Counsel to Governor Andrew Cuomo from 2011 to 2013 and an Associate at Debevoise & Plimpton LLP from 2004 to 2010. She began her career at Merrill Lynch Asset Management Group. Ms. Steiner holds an A.B. from Stanford University, an M.B.A. from Columbia Business School, and a J.D. from Columbia Law School.
Ms. Belchior joined Standard General in 2019 as an Administrative Assistant. She was formerly an Assistant to the Senior Vice President of Finance at LVMH Moët Hennessy Louis Vuitton Inc. Ms. Belchior holds a B.A. from Marywood University.
Mr. Bligh joined Standard General in 2016 as a Fund Accountant. He was formerly a Senior Audit Associate at KPMG, which he joined in 2013 after graduating with an M.B.A. and a B.S. in Accounting from Iona College.
Mr. Bright joined Standard General in 2021 as the Head of Business Development. He was formerly a Managing Director at Trawler Capital Management – a Third Point Company, where he led the firm’s inaugural marketing and investor relations activity from 2017. Prior to Trawler, Mr. Bright led the marketing and investor relations activity at Mark Asset Management and Sonica Capital. Mr. Bright began his alternative investments career in 2006 as a member of the Third Point team, where he worked for six years. Mr. Bright is currently a Trustee of Collegiate School, NYSAIS and an Associate Council member of Prep for Prep. He holds a B.S. from UNC-Chapel Hill and an M.B.A. from NYU.
Mr. Carlisi joined Standard General in 2015 and is a Senior Accountant. He was formerly an Account Manager at Citco Fund Services and Controller at Ophedge Investment Services, which he joined in 2005. Mr. Carlisi holds a B.A. in Accounting from Iona College.
Mr. Galeano joined Standard General in 2019 as Director of Investor Relations. Most recently, he was a Vice President of Investor Relations at Rimrock Capital. Prior to that, Mr. Galeano spent eleven years at Graham Capital where he held various positions, including Head of Treasury and Operations and Director in the Investor Relations group. Before Graham Capital, Mr. Galeano was an Associate at Ramius Capital Group. He began his career in 2001 as an Operations Analyst at GlobeOp Financial Services. Mr. Galeano holds a B.S. in Finance from the University of Connecticut and is a CFA and CAIA charterholder.
Mr. Malman joined Standard General in 2020 as the Head of Trading. He was formerly the Head of Americas Valuations, Liquidity, Regulatory, Predictive Analytics, Cross Asset and Derivatives Data at Bloomberg LP. Prior to that, Mr. Malman was a Vice President, Cross Asset Sales and Trading at Goldman Sachs. Before joining Goldman Sachs in 2010, he was a Vice President, Cross Asset Derivatives Sales and Trading at Barclays Capital. He also worked at Lehman Brothers for five years as an Equity Cash, Synthetics, Derivative Sales & Trading Associate. Mr. Malman holds a B.S.B.A. in Finance from the University of Florida.
Mr. Sogadzi joined Standard General in 2019 as a Research Analyst. He was formerly a Principal at OS Global Advisors. Prior to that, Mr. Sogadzi spent eight years at EnTrust Global where he served as Vice President responsible for hedge fund portfolio coverage. Mr. Sogadzi began his career as a Labor Relations Specialist at ALICO, a life insurance company. He holds a B.A. from Fairfield University and an M.B.A from Fordham University.
Mr. Thakrar joined Standard General in 2019 as a Research Analyst. He was formerly an Analyst at Davidson Kempner, which he joined in 2016. Prior to that, Mr. Thakrar spent three years at OMERS Private Equity where he worked as an Investment Associate. Mr. Thakrar began his career at CIBC World Markets in their investment banking group. Mr. Thakrar holds a Bachelor of Commerce from Queen’s University and an M.B.A. from Columbia University.
Mr. Vatanapradit joined Standard General in 2014 and is the Technology Director. He was formerly a Technology Associate at Monarch Alternative Capital from 2008 to 2014, where he oversaw all of Monarch’s technology systems. Prior to Monarch, Mr. Vatanapradit was a Senior Technology Analyst for Citi’s Global Banking Help Desk in New York for four years. Mr. Vatanapradit holds a B.A. from University of Michigan.
Ms. Wiener joined Standard General in 2021 as an Investor Relations Associate. She was formerly a Custom Client Reporting Supervisor at HedgeServ, where she began her career in 2018. Ms. Wiener holds a B.A. in Financial Economics from the University of Rochester.
Mr. Kim is the Firm’s Managing Partner and Chief Investment Officer. He has worked in the hedge fund industry since 1997, specializing in distressed and special situations investing. Prior to founding Standard General in 2007, he was one of the Founding Partners and Director of Research of Cyrus Capital Partners, a Principal at Och-Ziff Capital Management and an analyst at the Bankers Trust Company. Mr. Kim currently serves as Chairman of the Board of Directors of Bally’s Corporation (NYSE: BALY).  He also serves as a Director of Pursuit Transformation Company, a Director and Treasurer of the Cary Institute of Ecosystem Studies, a Director of Wethersfield Foundation, and the President of the Stuyvesant High School Alumni Association. Mr. Kim was inducted into the GAMCO Investment Management Hall of Fame in 2016 and won American Executive of the Year at the Global Gaming Awards in 2021. He holds an A.B. from the Woodrow Wilson School of Public and International Affairs at Princeton University.
Mr. Glazek joined Standard General in 2008. He is a Partner and Portfolio Manager. His responsibilities include analyzing, sourcing, and executing investment opportunities, as well as helping companies Standard General controls or influences with operational, transactional, and financing needs. He was formerly an investment banker at Lazard Frères & Co., where he focused on mergers and acquisitions and corporate restructurings. He has also worked at the Blackstone Group. Mr. Glazek currently serves as a Director of Workers Benefit Fund, Inc., Turning Point Brands, Inc. (NYSE: TPB), and National CineMedia, Inc. (NASDAQ: NCMI). He is also an Adjunct Professor at Columbia Business School, where he teaches Value Investing in Private Credit. He holds a B.A. in Economics and Political Science from the University of Michigan and a J.D. from Columbia Law School.
Mr. Mause joined Standard General in 2009 as a Partner and Chief Financial Officer. He is responsible for accounting, operational, regulatory, and legal aspects of the Firm. Mr. Mause has been working in the financial services industry since 1998. He was formerly a Partner and Chief Financial Officer of Latigo Partners, L.P. where he also served as the Firm’s Chief Operating Officer. Prior to Latigo, Mr. Mause was the Controller at King Street Capital, where he helped build the accounting, finance, and operational infrastructure during a period of rapid growth. Prior to joining King Street, he spent four years in public accounting at both Loeb and Tropper and Goldstein Golub Kessler American Express. He holds a B.S. in Accounting from Brooklyn College and is a Certified Public Accountant in the State of New York.
Ms. Steiner joined Standard General in 2014 and is a Partner, the General Counsel and Chief Compliance Officer. She was formerly the General Counsel at Young Broadcasting, LLC. Prior to that, Ms. Steiner was an Assistant Counsel to Governor Andrew Cuomo from 2011 to 2013 and an Associate at Debevoise & Plimpton LLP from 2004 to 2010. She began her career at Merrill Lynch Asset Management Group. Ms. Steiner holds an A.B. from Stanford University, an M.B.A. from Columbia Business School, and a J.D. from Columbia Law School.
Mr. Kim is the Firm’s Managing Partner and Chief Investment Officer. He has worked in the hedge fund industry since 1997, specializing in distressed and special situations investing. Prior to founding Standard General in 2007, he was one of the Founding Partners and Director of Research of Cyrus Capital Partners, a Principal at Och-Ziff Capital Management and an analyst at the Bankers Trust Company. Mr. Kim currently serves as Chairman of the Board of Directors of Bally’s Corporation (NYSE: BALY).  He also serves as a Director of Pursuit Transformation Company, a Director and Treasurer of the Cary Institute of Ecosystem Studies, a Director of Wethersfield Foundation, and the President of the Stuyvesant High School Alumni Association. Mr. Kim was inducted into the GAMCO Investment Management Hall of Fame in 2016 and won American Executive of the Year at the Global Gaming Awards in 2021. He holds an A.B. from the Woodrow Wilson School of Public and International Affairs at Princeton University.
Mr. Cho joined Standard General in 2010. He is a Partner and Research Analyst. He was formerly a portfolio manager at the LeFrak Organization, which he joined in 2007. Prior to that, Mr. Cho was an investment analyst at Steadfast Financial LLC from 2002 to 2006 and an investment banking associate at Morgan Stanley, which he joined in 1998. Mr. Cho holds an A.B. from Princeton University.
Mr. Glazek joined Standard General in 2008. He is a Partner and Portfolio Manager. His responsibilities include analyzing, sourcing, and executing investment opportunities, as well as helping companies Standard General controls or influences with operational, transactional, and financing needs. He was formerly an investment banker at Lazard Frères & Co., where he focused on mergers and acquisitions and corporate restructurings. He has also worked at the Blackstone Group. Mr. Glazek currently serves as a Director of Workers Benefit Fund, Inc., Turning Point Brands, Inc. (NYSE: TPB), and National CineMedia, Inc. (NASDAQ: NCMI). He is also an Adjunct Professor at Columbia Business School, where he teaches Value Investing in Private Credit. He holds a B.A. in Economics and Political Science from the University of Michigan and a J.D. from Columbia Law School.
Ms. Mircheva joined Standard General in 2015. She is a Partner and Research Analyst. She was previously a Senior Research Analyst at Perella Weinberg Partners Asset Management from 2009 until 2015. Prior to that, Ms. Mircheva worked as a Vice President in Distressed Principal Investing at Goldman Sachs. She joined the Goldman Sachs Investment Banking Division as an analyst in 2001. Ms. Mircheva is currently a member of the Board of Directors of White Energy, Inc. She holds a B.A. in Economics from Colgate University.
Mr. Malman joined Standard General in 2020 as the Head of Trading. He was formerly the Head of Americas Valuations, Liquidity, Regulatory, Predictive Analytics, Cross Asset and Derivatives Data at Bloomberg LP. Prior to that, Mr. Malman was a Vice President, Cross Asset Sales and Trading at Goldman Sachs. Before joining Goldman Sachs in 2010, he was a Vice President, Cross Asset Derivatives Sales and Trading at Barclays Capital. He also worked at Lehman Brothers for five years as an Equity Cash, Synthetics, Derivative Sales & Trading Associate. Mr. Malman holds a B.S.B.A. in Finance from the University of Florida.
Mr. Sogadzi joined Standard General in 2019 as a Research Analyst. He was formerly a Principal at OS Global Advisors. Prior to that, Mr. Sogadzi spent eight years at EnTrust Global where he served as Vice President responsible for hedge fund portfolio coverage. Mr. Sogadzi began his career as a Labor Relations Specialist at ALICO, a life insurance company. He holds a B.A. from Fairfield University and an M.B.A from Fordham University.
Mr. Thakrar joined Standard General in 2019 as a Research Analyst. He was formerly an Analyst at Davidson Kempner, which he joined in 2016. Prior to that, Mr. Thakrar spent three years at OMERS Private Equity where he worked as an Investment Associate. Mr. Thakrar began his career at CIBC World Markets in their investment banking group. Mr. Thakrar holds a Bachelor of Commerce from Queen’s University and an M.B.A. from Columbia University.
Mr. Marchitto joined Standard General in 2009. He is a Partner and the Controller. He was formerly the Controller at Gruss & Co., a multi-strategy hedge fund. Prior to that, Mr. Marchitto was the Controller at Latigo Partners, L.P., an event-driven credit hedge fund, a Fund Controller at Reservoir Capital Group, and was Manager of Finance and Accounting at GoldenTree Asset Management. He began his career in 1999 with the accounting firm of Arthur Andersen LLP. Mr. Marchitto holds a B.S. in Accountancy from Villanova University and is a Certified Public Accountant in the State of New York.
Mr. Mause joined Standard General in 2009 as a Partner and Chief Financial Officer. He is responsible for accounting, operational, regulatory, and legal aspects of the Firm. Mr. Mause has been working in the financial services industry since 1998. He was formerly a Partner and Chief Financial Officer of Latigo Partners, L.P. where he also served as the Firm’s Chief Operating Officer. Prior to Latigo, Mr. Mause was the Controller at King Street Capital, where he helped build the accounting, finance, and operational infrastructure during a period of rapid growth. Prior to joining King Street, he spent four years in public accounting at both Loeb and Tropper and Goldstein Golub Kessler American Express. He holds a B.S. in Accounting from Brooklyn College and is a Certified Public Accountant in the State of New York.
Ms. Steiner joined Standard General in 2014 and is a Partner, the General Counsel and Chief Compliance Officer. She was formerly the General Counsel at Young Broadcasting, LLC. Prior to that, Ms. Steiner was an Assistant Counsel to Governor Andrew Cuomo from 2011 to 2013 and an Associate at Debevoise & Plimpton LLP from 2004 to 2010. She began her career at Merrill Lynch Asset Management Group. Ms. Steiner holds an A.B. from Stanford University, an M.B.A. from Columbia Business School, and a J.D. from Columbia Law School.
Ms. Belchior joined Standard General in 2019 as an Administrative Assistant. She was formerly an Assistant to the Senior Vice President of Finance at LVMH Moët Hennessy Louis Vuitton Inc. Ms. Belchior holds a B.A. from Marywood University.
Mr. Bligh joined Standard General in 2016 as a Fund Accountant. He was formerly a Senior Audit Associate at KPMG, which he joined in 2013 after graduating with an M.B.A. and a B.S. in Accounting from Iona College.
Mr. Carlisi joined Standard General in 2015 and is a Senior Accountant. He was formerly an Account Manager at Citco Fund Services and Controller at Ophedge Investment Services, which he joined in 2005. Mr. Carlisi holds a B.A. in Accounting from Iona College.
Mr. Vatanapradit joined Standard General in 2014 and is the Technology Director. He was formerly a Technology Associate at Monarch Alternative Capital from 2008 to 2014, where he oversaw all of Monarch’s technology systems. Prior to Monarch, Mr. Vatanapradit was a Senior Technology Analyst for Citi’s Global Banking Help Desk in New York for four years. Mr. Vatanapradit holds a B.A. from University of Michigan.
Mr. Bright joined Standard General in 2021 as the Head of Business Development. He was formerly a Managing Director at Trawler Capital Management – a Third Point Company, where he led the firm’s inaugural marketing and investor relations activity from 2017. Prior to Trawler, Mr. Bright led the marketing and investor relations activity at Mark Asset Management and Sonica Capital. Mr. Bright began his alternative investments career in 2006 as a member of the Third Point team, where he worked for six years. Mr. Bright is currently a Trustee of Collegiate School, NYSAIS and an Associate Council member of Prep for Prep. He holds a B.S. from UNC-Chapel Hill and an M.B.A. from NYU.
Mr. Galeano joined Standard General in 2019 as Director of Investor Relations. Most recently, he was a Vice President of Investor Relations at Rimrock Capital. Prior to that, Mr. Galeano spent eleven years at Graham Capital where he held various positions, including Head of Treasury and Operations and Director in the Investor Relations group. Before Graham Capital, Mr. Galeano was an Associate at Ramius Capital Group. He began his career in 2001 as an Operations Analyst at GlobeOp Financial Services. Mr. Galeano holds a B.S. in Finance from the University of Connecticut and is a CFA and CAIA charterholder.
Ms. Wiener joined Standard General in 2021 as an Investor Relations Associate. She was formerly a Custom Client Reporting Supervisor at HedgeServ, where she began her career in 2018. Ms. Wiener holds a B.A. in Financial Economics from the University of Rochester.

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Indemnity

As a condition of your use of the Site, you hereby agree to indemnify and hold Standard General and its officers, directors, members, principals, investors, agents, and employees harmless from and against any and all claims, losses, liability, costs and expenses (including but not limited to attorney’s fees), as incurred, arising from your use of the Site or related services or from your violation of the Terms. You agree to indemnify, defend and hold harmless Standard General, its parent, subsidiary and affiliated entities and each of their respective owners, officers, directors, employees and agents from and against any and all claims, demands, losses, liabilities, damages, costs and expenses (including but not limited to attorney’s fees) arising from or in connection with your use of the Site and/or any violation of these Terms. You agree that your representations and warranties and your obligation to indemnify Standard General shall survive beyond any term that these are in effect.

Miscellaneous

You agree that no joint venture, partnership, employment or agency relationship exists between you and Standard General as a result of these Terms or use of the Site.

Standard General’s performance of these Terms is subject to existing laws and legal process, and nothing in these Terms is in derogation of Standard General’s right to comply with law enforcement requests or requirements relating to your use of the Site or information provided to or gathered by Standard General with respect to such use.

By reviewing or using the information on the Site after accessing the Site, you represent and warrant that (a) you have the authority to enter into these Terms and create a binding contractual obligation, (b) you understand and intend these Terms to be the legal equivalent of a signed, written contract equally binding, and (c) you will use the information on the Site in a manner consistent with applicable laws and regulations and in accordance with these Terms, as Standard General may amend them online or otherwise from time to time. A printed version of these Terms and of any notice given in electronic form shall be admissible in judicial or administrative proceedings based on or relating to these Terms to the same extent and subject to the same conditions as other business documents and records originally generated and maintained in printed form.

These Terms constitute the entire agreement between you and Standard General with respect to the Site and they supersede all prior or contemporaneous communications and proposals, whether electronic, oral or written, between you and Standard General with respect to the Site. No delay or failure on the part of either party in exercising any right or remedy hereunder shall operate as a waiver thereof or of any other right or remedy. No waiver whatsoever shall be valid unless in writing, signed by the party to be charged, and then only to the extent therein set forth.

You shall not assign or otherwise transfer these Terms, in whole or in part, or delegate or subcontract any of its rights or obligations hereunder, without Standard General’s prior written consent. Any attempted transfer or delegation by you without Standard General’s consent will be void. These Terms will bind and inure to the benefit of each party’s successors and permitted assigns.

Governing Law

Use of this Site and these Terms shall be governed by the laws of the State of New York of the United States of America, without regard to its conflict of law provisions. If any portion of these Terms is deemed unenforceable, unlawful or void by a Court of competent jurisdiction, then that portion of the Terms will be deemed severable and will not affect the enforceability or validity of the remaining portions of these Terms.

Standard General does not claim that materials in the Site are appropriate or available for use in locations other than those within the United States. If you choose to access the Site from other locations, you do so on your own initiative, and you are responsible for compliance with any applicable local laws.

If you have any questions or comments concerning our Site or these Terms, please contact us at:
Standard General L.P.
767 Fifth Avenue, 12th Floor, New York, NY 10153
(212)257-4701
legal@standgen.com



Disclaimer

Effective as of May 1, 2014

The information contained herein is confidential information regarding Standard General L.P. and its affiliates (collectively, “Standard General”). Material presented herein is believed to be reliable, but none of Standard General or any of its affiliates or employees makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein and nothing contained herein shall be relied upon as such or as a promise or representation as to the past or future performance of any funds or accounts managed by Standard General (the “Funds”). Information and opinions are as of the date stated above only and are subject to change without notice. Standard General has no obligation to inform the recipient when information contained herein changes or is updated. Additional information is available on request. You acknowledge that any of your requests for information are unsolicited and information provided or made available by Standard General shall neither constitute nor be construed as investment advice from Standard General to you or to form an investment advisory relationship, or any other client relationship between you and Standard General. Standard General is not responsible for any damages or loss related to the use of the website or any materials contained herein or from any computer virus, malfunction or other failure.

The content and information contained on Standard General’s website has been prepared solely for informational purposes and do not constitute investment advice, or legal or tax advice, or an offer to buy or sell or a solicitation of any offer to buy or sell any security or to participate in any trading strategy. If any offer of securities is made, it shall be made pursuant to a definitive offering memorandum (the “Offering Memorandum”) prepared by or on behalf of the relevant Fund that would contain material information not contained herein and that would supersede this information in its entirety. Any investment in any privately offered investment product involves a high degree of risk and is suitable only for sophisticated investors. Any decision to invest in the securities of any Fund should be made after reviewing the applicable definitive Offering Memorandum, conducting such investigations as the investor deems necessary and consulting the investor's own legal, accounting, and tax advisors in order to make an independent determination of the suitability and consequences of an investment in the securities. The information contained herein is not intended for distribution to or use by any person in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.

This material is intended only to facilitate your discussions with Standard General as to the opportunities available to our clients, is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations, and makes no implied or express recommendations concerning the manner in which any client's account should or would be handled, as appropriate investment strategies depend upon the client's investment objectives. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the Funds described on the website.