Company Press Release

Salient Expands Investments Team With Two Additions

New Directors of Investments Join Portfolio Management Group, Bringing Innovative Investment Strategies to Institutional and Retail Investors

HOUSTON, March 26, 2013 -- Salient Partners L.P. (Salient), a $17.4 billion asset management firm, has appointed Rusty Guinn and Todd Centurino, CFA as Directors of Investments. They previously worked for the Teacher Retirement System of Texas (TRS).

(Logo: http://photos.prnewswire.com/prnh/20120917/NY75507LOGO )

Mr. Guinn and Mr. Centurino will collaborate with the Investments team to oversee and manage Salient's funds and separately managed accounts. Mr. Guinn will lead the Portfolio Management group, which is responsible for managing Salient's multi-asset relationships and private investment funds. Within that effort, Mr. Centurino will leverage his TRS experience to lead the management of Salient's public fund mandates.

"Rusty and Todd possess extensive portfolio management expertise and experience covering many asset classes, implementation styles and legal structures, which will position our investments platform for further strategic growth," said Lee Partridge, Salient Chief Investment Officer. "Their addition to the Salient team is part of our ongoing effort to offer a wide range of comprehensive, risk-managed and cost-effective investment strategies that can diversify portfolios away from traditional market risk factors."

Mr. Guinn previously served as Director of Strategic Partnerships and Opportunistic Investments at TRS, where he was head of the team responsible for more than $11 billion in capital and commitments across a multi-asset portfolio. Earlier in his career, he worked with Credit Suisse's Asset Management Finance group, where he sourced and underwrote minority equity investments in asset management companies. Mr. Guinn earned a Bachelor of Science degree in Economics from the Wharton School at the University of Pennsylvania.

Mr. Centurino was most recently Senior Investment Manager for External Public Markets and Hedge Funds at TRS, where he was responsible for $2.9 billion in multi-manager equity portfolios. Prior to his six years at TRS, he spent seven years at Fidelity Investments. Mr. Centurino holds a Master of Business Administration from Rice University's Jesse H. Jones Graduate School of Management.

"Rusty, Todd and I had the privilege of working closely with TRS Chief Investment Officer Britt Harris, who is one of the foremost thought leaders in our industry," said Mr. Partridge. "The innovative portfolio management techniques Britt has used to benefit the teachers of Texas will undoubtedly benefit the broad community of institutional and retail investors that we serve."

For more information about Salient, please contact Chris Moon of JCPR at 973-850-7304 or cmoon@jcprinc.com.

About Salient Partners L.P.

Salient Partners L.P. is a $17.4 billion investment management firm based in Houston, Texas. The firm is a recognized innovator in the development, management and delivery of sophisticated, non-traditional investment solutions for both institutional and retail investors. Through its comprehensive investment approach, Salient identifies and develops leading strategies that help eliminate unrewarded risk, reduce investing costs and focus on the fundamental drivers of returns to deliver the full potential of all markets to investors. For more information about Salient and its professionals, visit www.salientpartners.com.