CrossingBridge Advisors Acquires the Collins Long/Short Credit Fund

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Feb 07, 2018, 08:00 ET

PLEASANTVILLE, N.Y., Feb. 7, 2018 /PRNewswire/ -- CrossingBridge Advisors, LLC ("CrossingBridge"), a wholly owned subsidiary of Cohanzick Management, LLC ("Cohanzick"), announces that it has acquired the Collins Long/Short Credit Fund (the "Fund") from Collins Capital, LLC ("Collins") in a transaction executed in January 2018. Cohanzick, founded by David Sherman, currently has approximately $2 billion in assets under management ("AUM") focused primarily on the domestic corporate credit markets.

The Fund, which has been sub-advised by Pinebank Asset Management, LP (an affiliate of Cohanzick), was launched in February 2015 and currently has in excess of $100 million in AUM. Pinebank founder and portfolio manager, Oren Cohen, will continue to manage the Fund in his capacity as an employee and portfolio manager of CrossingBridge, thereby eliminating the sub-advisory relationship and managing all investment and operational functions under one roof. An investor proxy vote will be required to approve the transaction.

"Over the past few years, we have enjoyed a successful relationship with Collins," said Oren Cohen. "With today's announcement, we are excited that the Fund will become part of the CrossingBridge fund family. This will create a much simpler structure while streamlining our investment and operational activities which we anticipate will allow for a reduction of fees for our shareholders."

"CrossingBridge has a deep and experienced team that continually strives to offer unique solutions and attractive risk-adjusted returns for their clients," said Dorothy Weaver, Chairman & CEO of Collins Capital. "Given their prior successes and deep client relationships, we are very excited about the future of the Fund under the guidance of David and Oren."

The Fund's Board of Trustees approved the transaction for CrossingBridge to become the interim advisor to the Fund effective February 1^st, at which time the name of the Fund was changed to the CrossingBridge Long/Short Credit Fund.

About CrossingBridge Advisors, LLC and Cohanzick Management, LLC

CrossingBridge Advisors, LLC, a wholly-owned subsidiary of Cohanzick Management, LLC, is an independent investment management firm based in Pleasantville, NY, focused primarily on high yield, investment grade, and opportunistic corporate credit. Cohanzick was established in 1996 and manages approximately $2 billion in assets under management. Cohanzick/CrossingBridge offer a variety of fixed income strategies, ranging from ultra-short term high yield to opportunistic credit, in mutual funds, separate accounts, sub-advised mutual funds, and private vehicles. For more information, please visit www.crossingbridgefunds.com.

About Collins Capital

Founded in 1995, Collins Capital is an independent, owner-operated investment management firm specializing in hedge fund portfolios.

The Fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus contains this and other important information about the investment company, and it may be obtained by calling 1-888-898-2780. Read it carefully before investing.

Mutual fund investing involves risk; Principal loss is possible. Investments in debt securities typically decrease when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in lower rated and non-rated securities present a greater risk of loss to principal and interest than higher rated securities. Derivatives involve risks different from, and in certain cases, greater than the risks presented by more traditional investments. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. The Fund may make short sales of securities, which involves the risk that losses may exceed the original amount invested. ETF and ETN investments involve additional risks such as the market price trading at a discount to its net asset value, an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a fund's ability to sell its shares. The Fund may invest in Asset-Backed and Mortgage-Backed securities. Investments in Asset-Backed and Mortgage-Backed securities include additional risks that investors should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. The Fund is non-diversified meaning it may concentrate its assets in fewer individual holdings and is exposed to more individual stock volatility than a diversified fund.

CrossingBridge Advisors is the Advisor to the CrossingBridge Long/Short Credit Fund which is distributed by Quasar Distributors, LLC.

CONTACT: Alyson Gardner, 1-914-741-9600, [email protected]

SOURCE CrossingBridge Advisors, LLC