Capital Z Asset Management Appoints James M. Marrone, Jr. as CEO

NEW YORK, June 29 /PRNewswire/ -- Capital Z Asset Management, LLC (CZAM), a sponsor of emerging hedge fund managers, announced today the appointment of James M. Marrone, Jr. as CZAM's Chief Executive Officer, effective August 1, 2009. Mr. Marrone, who is currently Head of Business Development and Chief Marketing Officer at CZAM, will retain those responsibilities. Mr. Marrone replaces Christianna Wood, who resigned to pursue other opportunities effective July 31, 2009.

Laurence Cheng, Chairman of CZAM and Founder of its predecessor firm Capital Z Investment Partners, will continue in his role as Chief Investment Officer, providing leadership and guidance to the investment staff and investment decisions.

Mr. Cheng said, "Jim's appointment as CEO reflects the strong contributions he has made to the firm since joining CZAM. In addition, I want to thank Christy for her strong leadership efforts and her valuable insights into global alternative investment markets. The strategic course she charted will serve as the basis for many promising business opportunities for CZAM, as well as the funds we have previously sponsored."

"I am excited about the future of CZAM, the strength of our investment team, our ability to continue to support the growth of our existing managers and the high-quality pipeline of emerging manager sponsorship investment opportunities," said Mr. Marrone. "Capital Z's sponsorship model, the oldest in the business, represents the very best hedge fund seeding model due to its strong alignment of investor and manager interests, as well as its detailed focus on transparency and governance. The track record compiled by Laurence and the rest of our team over the past decade is a testament to the strength of that model." He added, "I want to thank Christy for all that she has done for CZAM and for me personally."

Mr. Marrone has over 29 years of experience in marketing, sales and finance. Prior to joining CZAM, he was a Senior Managing Director at Bear Stearns Asset Management for 10 years. While there, Mr. Marrone successfully led the firm's corporate institutional sales efforts and expanded the business across product lines with corporate plan sponsors, as well as with other select institutional investors. Previously, Mr. Marrone held marketing and product development positions at Capital Management Associates, Westpac Banking Corporation, and Chase Manhattan Bank.

"I am grateful I had the opportunity to work with such a great team at CZAM," said Ms. Wood. "I remain convinced that sponsoring well-selected emerging managers represents a compelling investment opportunity, particularly on a risk-adjusted basis. I wish Laurence, Jim and the rest of this great team good luck as they continue to build the business."

About Capital Z Asset Management

Capital Z Asset Management (CZAM) is an alternative investment asset management business headquartered in New York. CZAM manages investment vehicles that provide sponsorship capital to hedge funds, while assuming a meaningful minority interest in their management companies and general partners. CZAM also offers a fund of funds, which invests in emerging managers, including many of its sponsored hedge funds.

SOURCE Capital Z Asset Management