Southridge Capital Management LLC Affiliate Acquires Double Alpha Group LLC

Nov. 15, 2010 - PRLog -- Ridgefield, CT and New York, NY – July 10, 2006- Southridge Capital Management
LLC (“Southridge”), an investment firm providing capital to growing enterprises
internationally, is pleased to announce that a Southridge affiliate has acquired Double
Alpha Group LLC (“Double Alpha”).
Double Alpha, founded in 1994, invests clients’ capital in world financial markets
utilizing proprietary quantitative trading techniques. The investment goal is to generate
risk-adjusted premium returns on the long and short side of the equity market while
maintaining a near neutral portfolio. As an innovator in the niche strategy of statistical
arbitrage, Double Alpha is continually researching and implementing quantitative models
which explain the short term volatility of individual equities. Clients have included high
net worth individuals, institutions, fund of funds, pensions and endowments.
Dante D’Orazio, Senior Portfolio Manager of Double Alpha, said, “ The Southridge
acquisition provides us both a strong capitalization base as well as the proven experience
in fund management which will allow us to enhance and accelerate our product
offerings.”
Charles Zaffuto, former CEO of Double Alpha, said, “We examined many opportunities
and realized that a sale to Southridge was the most favorable outcome for our firm and
our investor base.” Mr. Zaffuto will remain active as a Senior Advisor to the firm.
Stephen Hicks, Southridge’s Founder, added, “We continue to expand the firm’s array of
products which we feel match the needs of our dedicated and growing investor base. We
believe the timing of this purchase of an equity mean reverting quantitative strategy is
just right based on the current macro economic conditions that are creating inefficiencies
in the equity markets. We look forward to continuing the expansion of our product line
and view the Double Alpha fit as an integral part of that mosaic.

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Since its founding in 1996, Southridge advised funds have provided over $1 billion in
growth capital to emerging companies globally. Southridge is committed to funding mid
to micro-cap companies with robust business models across diverse industries