Central Park Group, LLC Announces a New Portfolio Manager for Its Registered Multi-Strategy Event-Driven Fund

NEW YORK, Nov. 1, 2011 /PRNewswire/ -- Central Park Group, LLC announced today that Brencourt Advisors, LLC has assumed portfolio management responsibility for Central Park Group Multi-Event Fund, a multi-strategy event-driven fund. The Fund invests in credit opportunities, merger arbitrage and equity special situations. It invests in a portfolio of "events" allocated across companies, sectors and strategies.

Central Park Group Multi-Event Fund is advised by Central Park Multi-Event Management, a joint venture between Central Park Advisers and Brencourt. Founded in January 2001 by William Collins, Brencourt has a 10-year record of attractive risk-adjusted returns.(1) Mr. Collins, the Fund's Portfolio Manager, has over 20 years of experience managing event-driven investments. Prior to founding Brencourt, Mr. Collins was a Senior Managing Director at ING Furman Selz Asset Management where he managed the firm's capital in event-driven strategies, as well as over $1 billion in client assets. He served on its Board from 1989 until its acquisition by ING Group in 1997.

"Brencourt brings specialized expertise in event investing to Central Park Group Multi-Event Fund," said Greg Brousseau, Co-CEO, Co-CIO, Central Park Group. "We are impressed with Brencourt's 10-year record of attractive returns, their approach to the asset class and their research, trading and risk management capabilities."(1)

"We have been following Brencourt for some time and are pleased to make their strategy available to high net worth investors in a user friendly structure," said Mitchell Tanzman, Co-CEO, Co-CIO, Central Park Group. "Central Park Group Multi-Event Fund provides a 1099, quarterly liquidity and a $50,000 investment minimum."(2)

"Central Park Group Multi-Event Fund represents an opportunity for Brencourt to make its strategy available to a broader universe(3)," said Mr. Collins, CEO of Brencourt and Portfolio Manager of Central Park Group Multi-Event Fund. "Brencourt professionals bring decades of event-driven investment experience and lessons learned from 35 years of market cycles to the Fund."

The Fund's objective is to achieve capital appreciation while seeking to moderate risk and reduce volatility by pursuing a variety of investment strategies.

For additional information, visit www.multieventfund.com.

Central Park Group was founded to serve the growing demand for alternative investments among high net worth and smaller institutional investors. The Firm sources institutional quality hedge fund, private equity, real estate and fund-of-funds managers and provides a platform of offerings that are appropriate for a broad range of qualified investors. Central Park Group's founders have led the industry in innovative fund structures tailored to meet the specific needs of small institutions and qualified investors. The Firm distributes through brokerage firms, private banks, registered investment advisors, financial planning firms and family offices. For additional information on Central Park Group, visit www.centralparkgroup.com

Contact:
Daniel Tauber
Central Park Group
(212) 317-9262 / [email protected]

(1) Past performance is not indicative of future results.
(2) Currently, the Fund expects to offer to repurchase 25% of its outstanding Shares every January, April, July and October. Amount (5-25%) available to repurchase is in Board's discretion. Fund cannot guarantee that shareholders will be able to sell as many Shares as they desire. The Fund has an interval structure such that the Fund's quarterly repurchases may continually decrease the overall size of the Fund to the extent that additional Shares are not sold. Minimum may be waived for certain investors.
(3) Investors must have a net worth of more than $2 million (jointly with spouse) or be a "qualified client" as defined in Rule 205-3 under the Investment Advisers Act.

RISK CONSIDERATIONS

An investment in the Fund is speculative and involves substantial risks. Investors may lose some or all of their investment.

The Fund and Adviser have limited operating history upon which to evaluate performance. Fund fees are higher than a typical mutual fund. There is no assurance that the Fund will achieve its investment objective or that shareholders will realize any profits. Investors should carefully consider the risks involved before investing. A Fund investment should be viewed only as part of an overall investment program and only be made by investors willing to undertake the risks involved.

Investments in securities involve risk of loss of capital. A Fund investment includes risks inherent in an investment in securities, as well as specific risks associated with limited liquidity, restricted liquidity of certain investments, distressed obligations and other high risk investments, foreign currency translation, financial and market risks of bankrupt, event and special situation companies, merger arbitrage and credit opportunity transactions, trading/security selection, use of derivatives for hedging and non-hedging purposes, leverage/borrowing, purchases of initial public offerings, reliance on key personnel, incentive fees, use of short selling, investment in "junk bonds", high portfolio turnover rate, conflicts of interest, options, futures and investment in non-U.S. securities.

The incentive fee may create an incentive to make investments that are riskier or more speculative than those that might be made in the absence thereof. The Fund is a closed-end registered investment company, not a mutual fund. A closed-end registered investment company may be more illiquid and or leveraged, and also does not provide daily net asset values.

Before investing you should carefully consider the Fund's investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained at www.multieventfund.com. Read the prospectus carefully before you invest.

Foreside Fund Services, LLC, distributor.

SOURCE Central Park Group, LLC