Recovery Partners Names Administrative Director

Date: Monday, January 31, 2005

Recovery Partners Investments Ltd. appointed John Wilson as managing director for finance and administration. He previously was chief financial officer at YMG Capital Management Inc., Toronto, for which he oversaw a public offering in a reverse takeover transaction. Mr. Wilson also has consulted for a number of companies in the software and financial services industries on compliance, finance and administrative matters, and he has participated in startup enterprises in the mutual funds and software industries, according to Recovery Partners. Mr. Wilson fills a new position at Recovery, according to the firm's chief executive, Alex Jurshevski. He said the company was formed in September 2004 and currently is courting institutions for investments in its Marvels fund, which focuses on what he calls "off-strategy" bank assets of distressed commercial loans. He said the firm is closing in on agreements representing about US$100 million in assets and is targeting a total of about US$200 million under management by June. The fund markets mostly to large-scale institutional investors, especially pension funds. Of the firm's new managing director, Mr. Jurshevski said, in a statement, "We are happy to welcome John on board. His addition to the team substantially completes our senior hires consistent with our business planning objectives. He brings a wealth of experience to this position and will add substantially to the team already in place." By Terry Stanton, Managing Editor-HedgeWorld.com