Founded in 1989, Northwater Capital Management Inc. is an employee-owned company with offices in Toronto, New York and Chicago. Northwater seeks low-cost market exposure (beta) through a variety of synthetic investment products and high-quality, diversified alpha through its market-neutral fund of hedge funds. Northwater's Portfolio Platform™ is a proprietary system that allows institutional clients the ability to port their choice of alpha to their preferred asset classes or investment policy mix. In addition, the Northwater intellectual property fund was launched in early 2006 to provide investors with a wide exposure to IP opportunities. As of December 31, 2007, Northwater had assets under management of over U.S. $8.5 billion, including U.S. $4.8 billion in its market-neutral fund of hedge funds, most of which is used in portable alpha structures.