Representative Richard Baker to Become New President and CEO of Managed Funds Association

WASHINGTON, D.C.--(Business Wire)--Managed Funds Association (MFA), the primary trade association of
the hedge fund industry, announced today that Representative Richard
H. Baker (R-LA) will join the association as its new president and
chief executive officer.

Congressman Baker succeeds John G. Gaine, who will move into a
special advisor role and undertake the expansion of MFA's global
outreach with regulators, policymakers and market participants
worldwide.

Congressman Baker, who has represented Louisiana's sixth
congressional district in the U.S. House of Representatives since
1986, is one of the most respected voices in Congress on financial
services and capital markets issues. He has been a senior member of
the House Financial Services Committee where he has played a
leadership role on the many debates that have taken place in
Washington in recent years and championed the objective of safety and
soundness in financial industry regulations.

"We are extremely pleased that Congressman Baker has agreed to
lead Managed Funds Association," said Eric Vincent, MFA's chairman.
"Richard has extensive knowledge of and broad experience with
financial services issues, including those affecting the alternative
investment industry. His expertise in this area, coupled with his deep
understanding of the impact of policy making on U.S. capital markets,
investment advisers and investors, make him the ideal leader for our
industry. We thank Jack Gaine for his ten years as president of MFA
and are pleased he will continue to serve as a special advisor."

Congressman Baker said, "I have been honored to represent the
people of the Sixth District of Louisiana for almost 22 years.
During my tenure, it was a privilege to have served on the House
Financial Services Committee and to work with my colleagues to ensure
the health of our nation's financial system. I have come to appreciate
greatly the vital role played by the alternative investment industry
in our economy and the importance of its continued success to the
competitiveness of our nation's capital markets. I look forward to
continuing work to ensure the United States capital markets remain the
strongest in the world."

About Managed Funds Association

MFA is the voice of the global alternative investment industry.
Its members include professionals in hedge funds, funds of funds and
managed futures funds. Established in 1991, MFA is the primary source
of information for policymakers and the media and the leading advocate
for sound business practices and industry growth. MFA Members
represent the vast majority of the largest hedge fund groups in the
world who manage a substantial portion of the approximately $2
trillion invested in absolute return strategies. MFA is headquartered
in Washington, D.C., with an office in New York. For more information:
www.managedfunds.org

MFA Media Relations
Meg Bode, 516-869-6610

Copyright Business Wire 2008