Kd Capital Management,

KD Capital Management, LLC is the investment manager of KD Capital, L.P., a value oriented investment partnership. The goal of the partnership is to achieve above-average returns by only committing capital when we believe there is an adequate margin of safety (e.g., when a security is selling at a significant discount to its intrinsic value). To do so, we rely on our own proprietary in-depth research which covers all aspects of companies and can be better measured in months and years rather than in days and weeks. We seek to make investments in securities we believe to be undervalued, and we do not restrict ourselves to any particular class of security in the capital structure of a company. By focusing on company fundamentals and demanding a large margin of safety, we attempt to mitigate the effects of errors in judgment and timing, and prevent permanent losses of capital.