THE FIRM

Longacre Management, LLC was founded as a general partnership in 1998 by John Brecker, Vladimir Jelisavcic and Steven Weissman, who previously were members of the distressed debt and high-yield group at Bear, Stearns & Co.

In early 1999, the principals formed Longacre Fund Management, LLC (“Longacre” or the “Company”) and began managing their first strategy specializing in distressed and leveraged credit investing.

Longacre's goal is to provide investors with a distinct approach to distressed investing. Our principals’ legal training, extensive experience in distressed debt, acute analytical skills and broad industry relationships form the basis of a strong primary research culture. This platform allows principals and analysts to identify value through both fundamental, deep value investing and the technical process of corporate reorganization. We pursue ideas across market sectors, in the U.S. and abroad, in large as well as less obvious, ‘off the run’ credits.

Over the course of the past 10 years, Longacre has launched a special equities strategy and a European targeted distressed strategy.

As assets have grown the principals have added incremental analytical, operational and administrative resources.

Longacre manages approximately $2.0 billion in client assets and operates offices in New York and London.

On June 18, 2008, subsidiaries of Goldman Sachs Petershill Fund Offshore, L.P., a private investment fund managed by Goldman Sachs Asset Management International, purchased a minority interest in Longacre.