Michael Niedermeyer, Chief Executive Officer of Wells Fargo Asset Management, said, “We are very excited to be partnering with The Rock Creek Group, a well-respected and growing global investment firm with an outstanding reputation in the hedge fund industry. Our clients have expressed their desire for increased alternative investment solutions, and this partnership allows us to meet those needs. Rock Creek’s expertise across asset classes and in asset allocation is complemented by their strong portfolio transparency, commitment to risk management, and enhanced reporting and analytics—capabilities that not only serve their clients well but also closely align with our philosophy and culture."

Lazard acted as financial advisor to Rock Creek on the transaction and Sullivan & Cromwell LLP acted as legal counsel to Rock Creek and K&L Gates LLP acted as legal counsel to Wells Fargo Asset Management.

About Wells Fargo Asset Management

With more than $450 billion in assets under management as of September 30, 2012, Wells Fargo Asset Management (WFAM) has over 35 autonomous investment teams with specialized expertise and proven processes; 1,700 dedicated team members, including more than 500 investment professionals; and a global reach with offices and clients around the world. Wells Fargo Asset Management comprises Wells Capital Management, Wells Fargo Funds Management, LLC (advisor to the Wells Fargo Advantage Funds®), and the Affiliated Managers Division which includes several other boutique investment managers, including ECM Asset Management, Ltd., stable-value manager Galliard Capital Management, Inc., and quantitative manager Golden Capital Management, LLC.

Wells Fargo & Company is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet ( wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

About The Rock Creek Group

The Rock Creek Group (Rock Creek) is a leading investment and advisory firm focused on investing in multi-manager portfolios of alternative investments as well as in emerging markets. It is one of the largest fund of hedge funds in the U.S. with 100% institutional assets. Rock Creek’s investors include premier institutional investors including pension plans, sovereign wealth funds, endowments, and foundations. It uses a sophisticated internally-developed Rock Creek Solutions platform to advise clients and to build portfolios that create long-term value. The Rock Creek Group was founded by Afsaneh Beschloss who was the Treasurer and Chief Investment Officer of the World Bank. Rock Creek manages more than $7 billion and approximately three quarters of assets are in customized portfolios to meet specific client objectives.

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