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Copia Capital completes operational transition from FrontPoint Partners, launching market neutral equity product

Tuesday, July 13, 2010
Opalesque Industry Update – Copia Capital, LLC (“Copia”), a Chicago-based investment advisor, announced today that it has now completed the transition of operational responsibilities away from FrontPoint Partners LLC (“FrontPoint”), launching the firm with $520 million in assets under management. FrontPoint is a global asset management firm specializing in absolute return strategies.

Since 2002, Copia has enjoyed a long and productive relationship with FrontPoint, having acted as investment advisor for FrontPoint’s utility and energy exposures. FrontPoint will remain a strategic investor with Copia, as Copia will continue to manage assets for FrontPoint.

The launch completes Copia’s transformation into an independent, full-service investment advisor. As part of this development, the firm has broadened equity ownership among its partners. Copia’s new status has also allowed it to design and implement a robust proprietary research management system that enables the firm’s process-driven investment strategy.

"Now is an opportune time for Copia to launch as an institutional-quality investment advisor,” said Tim Flannery, Managing Partner and Founder of Copia. “We believe the rapidly changing energy regulatory environment, structural and technological developments and sector inefficiencies will create unprecedented investment opportunities from which Copia’s investors can profit.”

Prior to founding Copia in 2002, Tim Flannery was a portfolio manager at Trove Partners, a utility and energy investment partnership in Chicago, where he, in conjunction with George Shiau, another Copia Partner, developed the strategy for and managed the Trove Market Neutral product. Prior to Trove, Mr. Flannery was a consultant with Metzler & Associates, which specialized in strategic and operational advice to the deregulating electric and gas utility sector. With a proven track record at both Trove and FrontPoint, Mr. Flannery is now introducing Copia as an independent investment advisor.

Copia manages a market-neutral equity strategy that invests across multiple sectors in the energy value chain, including energy, utility, material and industrial companies. The firm has developed a distinctive investment process that combines rich sector knowledge, statistical analysis and dynamic risk analysis.

Copia’s senior investment team has worked together on Copia/FrontPoint strategies for more than eight years.

Since mid-2008, Copia has been adding partners and employees to build out and support the evolution of the firm. Recently, Graham Cook joined Copia as a partner, responsible for strengthening and cultivating relationships with current and new investors. Mr. Cook was previously Chief Marketing Officer of Whitebox Advisors, a Minneapolis alternative investment management firm. Other new Copia partners include Daniel Bookstaber, who is the architect and developer of Copia’s research management systems, and David Pritsker, chief financial officer. Prior to joining Copia, Mr. Bookstaber was a research analyst with AQR Capital Management. Mr. Pritsker held CFO roles at Magnetar Capital and UBS O’Connor.

Copia Capital is an alternative investment management firm founded in May 2002 by Tim Flannery. The firm joined with FrontPoint Partners in August 2002 to serve as investment advisor for the FrontPoint Utility and Energy product. Since its inception, Copia has developed a distinctive investment process and has built a long track record differentiated by uncorrelated risk adjusted returns within the energy value chain. Copia is based in Chicago.

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