Ionic Capital Management® LLC (“Ionic”) is a $2.1 billion alternative asset manager founded in 2006 by Bart Baum, Adam Radosti, and Daniel Stone. Ionic manages multiple private investment vehicles employing different investment strategies including long volatility, value equity and credit. In addition, Ionic acts as sub-advisor to multiple registered investment companies for which it employs relative value arbitrage investment strategies. Within the long volatility investment strategies, Ionic focuses on generating negatively correlated returns and outperformance during uncertain markets. Ionic utilizes both explicit and imbedded options across asset classes, including equities, interest rates, currencies, commodities and credit in order to construct a portfolio that is typically positive convexity and long volatility. Ionic is based in New York City.