Corsair Asset Management is an event-driven fund focused on special situations and distressed debt.INTRODUCTIONCorsair is a global macro investment fund that was formed in 2023. The fund is rooted in a data-driven approach, with a focus on capitalizing on global economic trends and exploiting market inefficiencies. We have assembled a team of seasoned financial experts who possess a profound understanding of macroeconomic factors and a demonstrated track record in investment management. This positions us well to navigate the intricacies of today's financial landscape. STRATEGY Corsair is a firm specializing in global macro and event-driven strategies, with expertise in macro, credit, high-yield bonds, convertible securities, distressed debt, real estate, control investments, and emerging markets. It focuses on directional market movements that commonly have strong fundamental reasoning based on economic and political analysis.Corsair utilizes a global opportunistic strategy that seeks to blend a discretionary macro approach to asset class selection and market and economic analysis with a bottom-up analytical framework for security selection. Corsair's objective is to construct and manage a concentrated portfolio of macro instruments, corporate securities, and/or commodities that optimize risk/reward in any market environment.We are opportunistic across the capital structure, industry, and geography; we invest wherever we see a special situation element or event that will create an investment opportunity.Corsair's investment philosophy is based on the belief that top-down macroeconomic analysis and bottom-up security analysis should not be two distinct processes. Instead, each is enhanced by the contributions of the other. Corsair believes that the best investment opportunities arise when a security is identified that:(a) benefits from a powerful macroeconomic trend,(b) has its own idiosyncratic investment merits independent of macro variables, and(c) exhibits attractive technical characteristics.Corsair supplements its primary investment strategy with more opportunistic trading strategies, such as an equity capital markets strategy.The event-driven investment strategy, also known as special situations, refers to opportunities that arise throughout a company's life and are created by extraordinary or special corporate events, such as spin-offs, mergers, acquisitions, business consolidations, liquidations, reorganizations, bankruptcies, recapitalizations, share buybacks, hostile takeover bids, changes in benchmark or index composition, sale or purchase of assets, discrepancies in the value of share classes, agreements, legal disputes, and even investments in real assets. So-called special situations are characterized by catalytic events, i.e., events that can drive the price toward a new value. Depending on the opportunities available in the market, fund managers dynamically allocate their capital across different sub-strategies. LOOKING AHEAD Corsair provides access to a diversified range of asset classes and strategies designed to optimize returns while prudently managing risk in the ever-evolving macroeconomic landscape. This offers the potential for attractive returns while enhancing portfolio diversification.