AcenciA Debt Strategies Limited is a closed-ended investment company. The Company's investment objective is to provide annual returns in excess of three-month Sterling London Interbank Offered Rate (LIBOR) plus 5% over a rolling three-year period, and annual standard deviation of under 5%. The Company's principal activity is to invest in an actively managed portfolio of predominantly debt-oriented hedge funds. Its manager is Saltus (Channel Islands) Limited, and Sandalwood Securities, Inc. acts as the investment adviser of the Company. As of December 31, 2011, the Company�s holdings included Elliott Associates, LP, Cerberus SPV, LLC, Redwood Domesric Fund, LP, Redwood Domestic Fund, LP, Canyon Balanced Fund, LP, Gabriel Capital, LP, Thoroughbred Fund, LP, Appaloosa Investment, LP, Cerberus Institutional Partner and Scoggin Worldwide Investors, LP.