Victor Linell and Benjamin Bloomstone are the Fund’s portfolio managers and are equally responsible for the day-to-day management of the Fund’s portfolio. Investment decisions must be approved by the Adviser’s Investment Committee which includes Messrs. Linell and Bloomstone as well as Neil Kuttner, a member of the Board and the Chief Operating Officer of the Adviser. The Operations Team may veto investment decisions on the grounds of operational concerns only. Messrs. Linell, Bloomstone and Kuttner have served on the Adviser’s Investment Committee, since the Fund’s inception on February 1, 2015.
Victor Linell is a Managing Member of Cross Shore and shares responsibility for research and the overall investment process with Mr. Bloomstone. Mr. Linell worked in the financial services industry for 24 years before forming Cross Shore in November 2002. From 1987 until 2002, he was a principal at Sanford C. Bernstein & Co., Inc. (“Bernstein”), where he was responsible for institutional equity research sales for many of Bernstein’s largest accounts, including Fidelity Management and Research Co., Wellington Management Co., Massachusetts Financial Services Inc. and State Street Research and Management Co. Prior to joining Bernstein, Mr. Linell was a Vice President and financial advisor with Shearson Lehman American Express. He started his career at Price Waterhouse, where he was a CPA in the audit and tax division. Mr. Linell received his B.S. in accounting from the University of Maryland.
Benjamin Bloomstone is a Managing Member of Cross Shore and shares responsibility for research and the overall investment process with Mr. Linell. Mr. Bloomstone worked in the financial services industry for 24 years before joining Cross Shore in March 2003. From 1989 until 2003, he was a Managing Director and equity product manager at Credit Suisse First Boston, where he was responsible for institutional equity research sales in the Boston area. Prior to joining Credit Suisse First Boston, Mr. Bloomstone was a principal with Bernstein in the institutional sales area. He started his career at Price Waterhouse, where he was a CPA in the audit and tax division. Mr. Bloomstone received his B.S. in accounting from the State University of New York at Albany.
Steve Togher joined Cross Shore in September 2014 as Director of Research. Prior to joining Cross Shore, Mr. Togher had over 16 years of experience in the field of alternative investments, where he has had direct responsibility for portfolio management, risk management, manager due diligence and operations. Before joining Cross Shore, Mr. Togher was the Director of Research and Co-Chair of the Investment Committee for 6800 Capital, an alternative investment advisor specializing in multi-manager funds. At 6800, he oversaw manager due diligence and product development. Before his work at 6800 Capital, he was a Managing Director at Fortigent, LLC, where he oversaw their alternative investment platform and the use of hedge fund and other non-traditional investments in client portfolios. He was responsible for manager search and selection, research and analysis, ongoing due diligence and risk management. In addition, he chaired the firm’s Portfolio Management Oversight Committee. Mr. Togher earned a Bachelor of Arts degree in Computer Information Systems and an MBA (Finance) from Bernard Baruch College, where he also served as an Adjunct Lecturer in the Department of Mathematics. He holds the Chartered Alternative Investment Analyst (CAIA) designation. Mr. Togher was made a Partner at Cross Shore in January 2017.
Neil Kuttner is a Managing Member of Cross Shore and serves as Chief Operations Officer, with responsibility for finance and operations. Mr. Kuttner worked in the financial services industry for 24 years before forming Cross Shore in November 2002. From 1982 through 2001, he was employed by Bernstein as a principal, holding positions of Chief Financial Officer and Treasurer. After the sale of Bernstein to Alliance Capital in 2000, he worked on a number of special assignments for the combined company as well as teaching tax planning at Lehman College. Mr. Kuttner began his career at Coopers and Lybrand as a CPA and supervising auditor. Mr. Kuttner earned a B.A. in economics from City College of New York and a masters degree in business administration from the Wharton School.
Kevin Hurd joined Cross Shore in January 2016 as Director of Marketing & Investor Relations. Prior to joining Cross Shore, Mr. Hurd had worked in the alternative investments industry for 16 years and held similar roles at Little Harbor Advisors and Alkeon Capital Management. Prior to that, he was Director of Hedge Fund Product Management at Citigroup, where he oversaw product origination and distribution for Citi’s “HedgeForum” platform. Mr. Hurd began his career within the alternative investments group at Oppenheimer Asset Management. He received his MBA in Finance and Economics at New York University’s Stern School of Business and his BSc in Business Management at the College of New Jersey.
The Cross Shore Discovery Fund is distributed by Ultimus Fund Distributors, LLC (Member FINRA). You may research the Distributor, Ultimus Fund Distributors, LLC using FINRA’s BrokerCheck at: http://brokercheck.finra.org/
Investors should carefully consider the investment objectives, risks, charges and expenses of the Cross Shore Discovery Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained at www.crossshorefunds.com or by calling 844-300-7828. The prospectus should be read carefully before investing.
An investment in the Fund is speculative, involves significant risk and is not suitable for all investors. It is possible that you may lose some or all of your investment and attempts by the Fund to manage the risks of investing in Portfolio Funds does not imply that your investment in the Fund is low risk or without risk. An investment in the Fund is illiquid and is not suitable for you if you need access to the money you invest. You may not have access to the money you invest for an indefinite period of time and you should not expect to be able to sell your Shares regardless of how your investment in the Fund performs. You do not have the right to require the Fund to redeem or repurchase your Shares although the Fund may periodically offer to repurchase Shares on such terms as may be determined by the Fund’s Board of Trustees (“Board”). Shares are not, and are not expected to be, listed for trading on any securities exchange. To the Fund’s knowledge, there is no, nor will there be, any secondary trading market for the Shares. Shares are subject to substantial restrictions on transferability and resale and may not be transferred or resold except as permitted under the Fund’s Declaration of Trust. Because you may not be able to sell your Shares, you will not be able to reduce your investment exposure to the Fund on any market downturn. Please see additional disclosure of Risks in the Prospectus.
Control Risk – The Adviser will not have control of, or have the ability to exercise influence over, the trading policies or strategies of a Portfolio Fund. Investment decisions of the Portfolio Funds are also made independently of each other so that, at any particular time, one Portfolio Fund may be purchasing shares of an issuer whose shares are being sold at the same time by another Portfolio Fund. Transactions of this sort could result in the Fund directly or indirectly incurring certain transaction costs without accomplishing any net investment result.
Expense Layering Risk – In addition to its own expenses, the Fund will also bear its allocable share of the costs and expenses of each Portfolio Fund, including its allocable share of the management and incentive compensation paid to an Investment Manager. As a result, the Fund’s investments in the Portfolio Funds may result in the Fund paying higher expenses than other funds with similar investment objectives and strategies or if it invested directly in the securities held by the Portfolio Funds. Also, each Investment Manager generally will be entitled to receive a management fee of between 1% and 2% and a performance-based allocation, expected to range up to 20% of a Portfolio Fund’s net profits.
Long/Short Equity Strategy Risk – The success of a long/short equity strategy is contingent upon an Investment Manager’s ability to correctly identify investment opportunities with the highest probability of success (long positions) and/or those with the highest probability of failure (short positions). Substantial losses may be recognized as a result of the implementation of this strategy.
Before making an investment decision, you or your adviser should consider factors such as net worth, income, age, risk tolerance and liquidity needs in evaluating whether the Fund is a suitable investment for you. Short-term investors and investors who cannot bear the loss of some or all of their investment or the risks associated with the limited liquidity of an investment in the Fund should not invest in the Fund.
The information on this Website is not an offer to sell or solicitation of an offer to buy an interest in any investment fund or for the provision of any investment management or advisory services. The information on this website is intended for informational purposes only. An offering can only be made by delivery of the Prospectus to “Eligible Investors” as defined in the Prospectus. Cross Shore Capital Management, LLC and its affiliates do not offer legal, accounting or tax advice.
Additional information about the Fund’s quarterly holdings is available upon request.
SEC Section 16 Filings:
Past Performance does not guarantee future results. Cross Shore Capital Management, LLC is the advisor to the Cross Shore Discovery Fund..