Acorn Advisory Capital

Established in 2008, Acorn Advisory Capital (Acorn) is a New York-based independent, employee-owned hedge fund manager. Robert Rosenkranz organized Acorn in 1982 to invest his personal capital, primarily in external funds. In 1987, Mr. Rosenkranz established Delphi Financial Group Inc., an insurance holding company, and engaged Acorn to advise Delphi on a portion of its investments. In 2011, Delphi merged with Tokio Marine Holdings, providing an infusion of capital to Mr. Rosenkranz and Acorn. Acorn has maintained its advisory relationship with Delphi and currently manages a portion of Delphi's assets. Significant, stable capital from both Acorn’s principals and Delphi, coupled with Acorn’s ongoing advisory relationship to Delphi, have enabled Acorn to develop internal investment strategies directly through commingled vehicles, and in some cases, separately managed accounts. These include mortgage-backed securities, municipal securities, discretionary global macro, and systematic futures.