Gabelli & Partners Announces the January 1st Launch of Offshore Credit Hedge Fund

  Gabelli & Partners Announces the January 1st Launch of Offshore Credit Hedge

Business Wire

RYE, N.Y. -- December 27, 2012

Gabelli & Partners, the alternative investment partnership group of GAMCO
Investors, Inc. (NYSE:GBL) announced today the creation of Gabelli
Intermediate Credit Fund, Ltd., a high-yield fund created for non-U.S. and
non-taxable U.S. investors in the corporate bond strategy managed by portfolio
manager and Director of Fixed Income, Wayne Plewniak.

“Wayne has successfully managed the Gabelli Intermediate Credit Fund L.P.
since its inception in 2007. We are responding to the request of a number of
our non-U.S. and non-taxable U.S. clients to provide access to this strategy
while affording the benefits of an offshore vehicle for the Fund,” said
Michael Gabelli. “The onshore version of the Gabelli Intermediate Credit Fund
is now armed with a solid five year track record run by an experienced manager
who has a consistently applied investment strategy in a fund with significant

Mr. Plewniak joined the firm in 2006. He was formerly with Neuberger Berman,
where he served as a Managing Director and Senior Portfolio Manager, following
Neuberger's acquisition of Lipper & Company’s high yield business in 2002.
Prior to this acquisition, Mr. Plewniak was responsible for the creation and
management of Lipper’s high yield business since its inception in 1991. He has
an MBA in Finance and International Business from Georgetown University and a
B.S. in Industrial Engineering from the Rochester Institute of Technology.

GAMCO Investors, Inc. (NYSE:GBL), through its subsidiaries, manages assets of
private advisory accounts (GAMCO), mutual funds and closed-end funds (Gabelli
Funds, LLC), and partnerships and offshore funds (Investment Partnerships) and
is known for its Private Market Value with a Catalyst™ style of investment.


Gabelli & Partners
Michael Gabelli, 914-921-7787
Managing Director
For further information please visit
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