Steve F. Freed

Mr. Freed joined the Adviser in 2001 as a member of the investment committee.
Prior to joining the Adviser, Mr. Freed was a Director and Principal at William M.
Mercer Investment Consulting, Inc. Mr. Freed's responsibilities at Mercer included chairing the firm's Research and Policy Committee, conducting due diligence on both hedge fund and traditional investment managers as part of the firm's national Manager Research Group, and developing asset allocation strategies through the use of asset and liability modeling.
Prior to his employment at Mercer, Mr. Freed was a pension actuary at Towers Perrin from mid-1990 to early 1996.
Mr. Freed received his B.S.
in Actuarial Science from the University of Illinois at Urbana-Champaign in 1990 (Summa Cum Laude) and his M.B.A.
with specialization in finance from the University of Chicago Graduate School of Business in 1997.
Mr. Freed is a Chartered Financial Analyst (CFA) and an Associate of the Society of Actuaries (ASA).