WILLOW CREEK CAPITAL PARTNERS, L.P

Willow Creek Capital Partners, L.P. is a privately owned investment management firm and hedge fund sponsor. The firm’s investment vehicles and separate accounts (SMAs) focus on publicly traded U.S. equities. It employs a market neutral approach and a long/short equity strategy to invest in undervalued stocks of companies, while focusing equally on flawed companies to engage in short sales. The firm utilizes fundamental analysis to generate a bottom up stock picking approach for constructing i... ts portfolios. Willow Creek Capital Partners L.P. was founded in April 1995 and is based in Greenbrae, California. Their decades-long track record of success has enabled the company to work with dozens of inspiring investors and business-builders during Willow Creek Capital Partners, L.P.’s existence. This company works to identify, invest in companies that are undervalued, often due to investor disinterest/neglect, frequently due to the investing public’s lack of understanding about a business or its industry dynamics. This investment approach is based on a disciplined process that measures risk (downside) while identifying the catalysts for increasing value. To achieve transformative results, Willow Creek Capital Management purposefully engages only in friendly transactions and works with talented management teams. Given the hundreds of companies analyzed during its history, Willow Creek Capital Partners, L.P. strives to assist companies it is considering making an investment in by offering suggestions for improving results across varied elements of a business’s operations thereby attempting to help to maximize value. Willow Creek Capital Partners, L.P. draws on the skills and experience of its employees, consulting relationships and other like-minded investors. The company’s main objective is to deliver superior long-term and risk-adjusted performance through investing in undervalued stocks of small-cap and mid-cap companies to construct its equity portfolios, while always maintaining a robust portfolio of fundamentally flawed short positions. Central to Willow Creek Capital Partners, L.P.’s investment philosophy is a rigorous process of fundamental research which includes meeting with company management, as well as analysis of publicly available information and proprietary and independent research. This firm invests in a diverse range of markets and uses a wide variety of investment styles and financial instruments to accomplish their goals. This investment flexibility unlocks unique opportunities for its investment vehicles and SMAs. Willow Creek Capital Partners, L.P. has established a formal governing process and an efficient operational structure – utilizing “outsourcing” of all non-investment functions whenever possible -- to maximize efficiency. The company also benefits from the long-term relationships they have built with a number of reputable service providers that specialize in fund accounting and administration, securities laws and regulations, audit and tax, and technology. Willow Creek Capital Partners L.P. believes that over time this approach should deliver additive risk-adjusted performance as we strive to identify and invest in the great companies that have the potential to appreciate significantly and continue to find short opportunities where the companies are very likely to fail and cease to exist. More