STAMFORD, Connecticut, March 3 /PRNewswire/ --

Highland Good Steward Management (HGSM) today announced it has selected K2 Advisors, L.L.C. (K2), a Connecticut-based investment adviser, as a sub adviser to Highland Good Steward Management (HGSM), an Alabama-based investment adviser. HGSM focuses on incorporating environmental, social and governance (ESG) principles into investment policies.

William Doug Douglass III, co-founder of K2, said, K2 and Highland Good Steward Management have known each other for many years, and we are thrilled they have chosen our firm as a trusted investment adviser. Stability, a pillar of our firm and theirs, is of the utmost importance during these volatile markets, and we are committed to preserving and protecting our clients' capital.

William T. Mills III, managing member of HGSM and co-founder of Highland Associates, commented, ESG investing is playing an increasingly significant role in investment affairs today including the alternatives universe, and we can think of no better partner than Doug Douglass and Dave Saunders. They have built a top-tier institutional quality firm that boasts a repeatable and sustainable investment process and a commitment to due diligence and a dedication to protecting capital. We look forward to a long and productive relationship with K2.

The appointment marks K2's third assignment to replace an existing investment sub-adviser in the past three months. In December 2008 K2 was named as sub-adviser to several Raiffeisen Capital Management fund of hedge funds portfolios. Last week, K2 was also named as sub-adviser to a large multi-national bank's fund of hedge funds portfolio based in Australia.

About K2 Advisors, L.L.C.

K2 has over US$6 billion in assets under management and serves both institutional and private investors globally. K2 is comprised of approximately 85 professionals, many of whom are former analysts, traders and risk managers from hedge funds, investment banks and asset managers. The firm was co-founded by William A. Douglass III and David C. Saunders in 1994, is based in Stamford, CT and maintains offices in New York, Connecticut, London, Sydney, Hong Kong and Tokyo. K2 is registered as an investment adviser with the Securities and Exchange Commission in the U.S.

About Highland Good Steward Management LLC

HGSM was founded in 2004 and is located in Birmingham, AL. HGSM's goal is to provide innovative investment products and services in accordance with HGSM's ESG principles to investors around the globe. HGSM is an affiliate of Highland Associates, a healthcare investment and consulting company founded in 1987. Highland Associates provides advisory and consulting services primarily to not-for-profit healthcare systems. HGSM is registered as an investment adviser with the Securities and Exchange Commission in the U.S.

Steve Bruce, Mary Beth Grover or Monica Everett, all of Abernathy MacGregor, +1-212-371-5999