arbitrage.htm

Chief Investment Officer:

Anne Casscells - Menlo Park, CA

For More Information Please Contact: Andrea Bollyky (212) 201-2518 abollyky@aetoscapital.com

Brad Rudner (212) 201-2532 brudner@aetoscapital.com

Product Description: The Aetos Capital Prime Portfolio is a tactically allocated portfolio comprised of allocations to Aetos Capital’s 1940 Act SEC-registered Hedge
Funds of Funds, designed to provide U.S. and Offshore investors a consistent absolute return with lower volatility versus traditional markets. This
Portfolio incorporates a fundamentally based investment process with a disciplined approach to strategy allocation, manager selection and portfolio
monitoring where risk management is integrated in every step.

Investment Returns: As of 8/31/10:	Aetos Capital Prime Portfolio2	90-Day Treasury Bills	Barclays Capital Aggregate Index	S&P 500 DRI Index	MSCI World Index
1 Year Annualized Return	5.60%	0.11%	9.18%	4.91%	1.54%
3 Year Annualized Return	-0.02%	0.92%	7.66%	-8.66%	-9.58%
5 Year Annualized Return	3.42%	2.37%	5.96%	-0.90%	0.02%
From Inception through 8/31/10:
Average Annualized Return	5.30%	2.07%	5.55%	3.76%	5.34%
Annualized Standard Deviation	4.65%	0.49%	3.85%	15.78%	16.87%
Sharpe Ratio	0.70	-	0.90	0.11	0.19
Largest Calendar Qtr. Drawdown	-8.22%	-	-2.44%	-21.95%	-21.77%
Beta: Barclays Capital Aggregate Index	0.07	-	-	-	-
Beta: S&P 500 DRI Index	0.18	-	-	-	-
Beta: MSCI World Index	0.19	-	-	-	-

Historical Strategy Allocation

Gross Exposure

Long

Net Exposure

Short

1 Allocations are subject to change over time.

2 Performance figures shown for the period of September 1, 2002 through August 31, 2010 are of the Aetos Capital Prime Portfolio and are net of an investment advisory fee of 0.75% of assets annually. Aetos Capital formalized the Aetos Capital Prime Portfolio in April 2007. The performance figures shown for periods prior to April 2007 are
those of the Aetos Capital Funds comprising the Aetos Capital Prime Portfolio, weighted according to the allocations on April 1, 2007. For periods prior to the inception of the Aetos Capital Opportunities Fund in August 2005, the weightings to the three Aetos Capital Funds then in existence are increased pro rata. During the period from
September 2002 through April 2007, it is likely that the Aetos Capital Prime Portfolio allocations to the Aetos Capital Funds would have differed from the allocations today, and the performance shown is not necessarily representative of the performance that would have been achieved had the Aetos Capital Prime Portfolio been in existence
during the entire period. The returns also reflect Fund level expenses, some of which have been waived and/or reimbursed by the Investment Adviser. Returns would have been lower without such waivers and reimbursements.

Absolute return investing involves substantial risks, including the risk of loss of invested capital. Absolute return investments are typically made through investments in illiquid, unregulated investment funds that employ sophisticated investment techniques, often involving derivatives and leverage, in a wide range of financial instruments and
markets. These investments entail a wide variety of risks, which remain substantial notwithstanding the risk management practices we employ in selecting and monitoring funds we invest in.

Prospective investors should consider the investment objectives, risks, and the charges and expenses discussed above carefully before investing. The prospectus contains this and other information; a free copy of the prospectus may be obtained by calling 212-201-2540. Please read the prospectus carefully before investing.

Aetos Capital, LP▪ 875 Third Avenue ▪ New York, NY 10022 ▪ (212) 201-2500

Aetos Alternatives Management, LLC ▪ 2180 Sand Hill Road ▪ Menlo Park, CA 94025 ▪ (650) 234-1860


Contribution Frequency / Notice Period	Monthly / 30 Days
Lock-Up Period	1 Year (2 Years for Aetos Capital Opportunities Fund)
Redemption Frequency / Notice Period	Quarterly / 90 Days
Minimum Investment	$1 million
Auditor	PricewaterhouseCoopers, LLC
Administrator	SEI Investments Global Funds Services

Aetos Capital: Portfolios and Products

Fees & Terms

Investment Performance2 (US$)
	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sept	Oct	Nov	Dec	YTD
2002	-	-	-	-	-	-	-	-	-0.65%	0.36%	0.54%	1.05%	1.30%
2003	0.24%	-0.02%	0.25%	1.88%	1.90%	1.46%	0.43%	0.89%	0.68%	1.59%	1.25%	1.23%	12.42%
2004	2.07%	0.82%	-0.12%	-0.75%	-0.09%	0.41%	-0.19%	0.00%	0.74%	0.77%	1.74%	1.14%	6.71%
2005	0.14%	1.39%	0.30%	-0.57%	0.86%	0.89%	1.32%	0.71%	0.82%	-0.93%	0.75%	1.50%	7.39%
2006	2.20%	0.36%	1.39%	1.03%	-0.66%	0.15%	0.36%	0.74%	0.21%	1.07%	1.63%	1.21%	10.11%
2007	1.88%	0.54%	1.19%	1.66%	1.85%	0.42%	-0.72%	-1.59%	1.16%	1.77%	-0.12%	0.63%	8.96%


2010	-0.17%	0.72%	1.84%	0.80%	-2.39%	-0.87%	1.07%	0.12%	-	-	-	-	1.05%

Historical Exposures