LAUNCH OF $2 BILLION EXPERIENCED ALTERNATIVE INVESTMENT MANAGER

NEWARK, N.J., Feb. 3, 2022 /PRNewswire/ -- On January 1, 2022, Passaic Partners ("Passaic") launched as a newly formed, majority employee-owned investment firm with more than $2 billion in institutional assets under management across seven investment strategies.

Josh Silva, Passaic's Chief Investment Officer and Managing Partner, previously served as Senior Portfolio Strategist and Portfolio Manager at Harvest Volatility Management, and prior to that at Attalus Capital and Credit Suisse in New York and London. Describing the launch of Passaic Partners, Silva said "Managing proven strategies within the context of our new firm best aligns our team's interests with those of our clients and allows us to most effectively deliver the customized return streams that they desire." Silva continued, "With the help of our long-standing institutional clients, over the past eight years we have designed alternative solutions to traditional equity, inflation-linked, and hedge fund strategies with a strong long-term track record of favorable risk/reward and liquidity." Silva further noted: "We employ a rules-based methodology that incorporates a proprietary hedging strategy in order to narrow the cone of potential outcomes while creating a more predictable return stream. The key to any rules-based derivatives strategy is risk management in times of stress."

Silva earned a M.S. in Financial Mathematics at the University of Chicago while serving as a senior options trader for Société Générale at the Chicago Mercantile Exchange. Other Passaic team members include Mike Lulanaj, previously a Director at BGC Financial and a Senior Trader at Credit Suisse, who is joining as a Portfolio Manager and Jim Tufts as the firm's Chief Operating Officer. Previously, Jim served as Chief Operating Officer and Head of Investor Relations at First Quadrant, Attalus Capital, and Mellon Capital. Silva, Lulanaj, and Tufts have assembled an experienced team of seasoned professionals to support Passaic's operations as an independent firm.

Lincoln Peak Capital, a Boston-based private investment firm that focuses on investing in leading mid-sized asset management firms, is a minority shareholder of Passaic Partners. Lincoln Peak's partner firms collectively manage over $90 bn in AUM across a broad spectrum of traditional, alternative, and wealth management strategies. Silva said: "We are excited about our partnership with Lincoln Peak and believe in their unique long-term approach to investing in firms like ours. As a supportive partner who understands our business and has decades of experience investing in leading firms like ours, we appreciate their role in our becoming an independent firm and look forward to a successful relationship."

Passaic Partners is located in Newark, New Jersey at 110 Edison Place, Suite 304.

SOURCE Passaic Partners