Michael E. Griffin, Principal

Mr. Griffin has held executive positions within the alternative asset management business for the last 15 years. Most recently, he served as chief operating officer of Fenchurch Capital Management, managing all marketing, investor relations, operations, and business administration of the organization. He developed a corporate growth strategy, which raised assets under management from $35 million in 1991 to $720 million by the end of 1994 through a global distribution program resulting in over 500 international clients. Commensurate with his responsibilities at Fenchurch, Mr. Griffin maintained a seat on the Board of Directors of Kleinwort Benson, Ltd., in London. He coordinated the development of hedge funds for the Treasury division of the merchant bank, providing market research and marketing assistance.

From 1985 to 1991, Mr. Griffin served in several executive capacities for Virginia Trading Corporation, a futures commission merchant and its subsidiary, Virginia Futures Management Corporation, a registered commodity pool operator. His management responsibilities included supervising the operation of the 70-employee broker and several company-sponsored commodity funds. Prior to joining Virginia, Mr. Griffin was employed as a manager at Coopers & Lybrand, specializing in the Commodities and Securities practice. He obtained a B.S. degree in Business Administration from the University of Illinois and is a Certified Public Accountant.