Institutional Investor: AlphaHedge * May 2-4, 2010 * Bermuda

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for Bermuda 2010:


Investors:
Aksia LLC
Alberta Teachers' Retirement Fund Board
Albourne America LLC
Al-Dar Trading Co. (Investments)
Amelia Peabody Foundation
American Legacy Foundation
Ashford Consulting Group
Ball State University Foundation
Burlington City Retirement Board
Cambridge Associates
Cambridge Financial Services Group, Inc.
Canadian Medical Protective Association
Commonwealth Fund
Connecticut Investments LLC
Cook Children's Health Care System
Cornell University, Office of University Investments
DeKalb County Employees' Retirement System
Endurance Services Limited
Fairfax County Police Officer's Retirement System
George Washington University
Greater Cincinnati Foundation
Hammond Associates
Jacksonville Police & Fire Pension Fund
Kruger, Inc.
LYNX Capital SA
Mercer
Montpelier Reinsurance Holdings Ltd.
National Grid
Nuclear Electric Insurance, Ltd.
Oakland Police & Fire Retirement Systems
Omnium
Renaissance Re
Sharp Electronics
The Barclays UK Retirement Fund
The Canadian Medical Protective Association
The College of William and Mary Foundation
The Helmsley Trust
The Juilliard School
The Ohio State University
The Oil Group of Companies
The State Association of County Retirement Systems (CA)
The UConn Foundation, Inc.
Tulane University
University of Florida Investment Corporation
University of Virginia, Virginia Retirement System
Utah Retirement Systems (URS)
Verizon
Wake Forest University
WR Group Holdings

Hedge Funds and Fund-of-Funds:
Alternative Beta Partners AG
Antarctica Asset Management (UK) LLP
AQR Capital Management
Arrowgrass Capital Partners
Arrowpoint Partners
Atalaya Capital Management LP
Axel Capital Management
Blackstone Alternative Asset Management LP
Blue Hill LLC
Brahman Capital Corp.
Breakpoint Asset Management
Cadogan Management, LLC
Camulos Capital
Capstone
Capula Investment Management LLP
Clarium Capital Management
Clough Capital Partners
Crestline Investors
Cypress Tree Investment Management LLP
Dalton Investments LLC
Dextral Capital LP
DiFiglia Capital Management LLC
Discovery Capital Management, LLC
Diversified Global Asset Management
Doubloon Capital LLC
Doyle Fund Management
Efficient Capital Management
Emerging Asset Management Ltd
EQA Partners, LP
Equinox Partners, L.P.
Flintlock Capital Asset Management, LLC
Focus Investment Group
GAM
Glazer Capital, LLC
Gramercy
Guggenheim Advisors
HAN Capital Management
Harbinger Capital Partners
Hawker Capital
Indus Capital Partners
International Asset Management Limited (IAM)
Investment Management Division of Goldman Sachs
Kazazian Asset Management, LLC
KLS Diversified Asset Management LP
Krusen Capital Management, LLC
Landmark Value Investments
Lazard Asset Management
LightKeeper, LP
Lyford Group International
M.D. Sass
Mapleridge Capital Corp
Marathon Asset Management, LP
Mariner Investment Group, LLC
Marshall Spectrum
Merfin, LLC
Meridian Fund Managers, Ltd.
Merrill Lynch Private Wealth Management
Mesirow Financial
Miura Global Management
Moon Capital Management LP
Morgan Creek Capital Management
Narragansett Asset Management
Nephila Capital Ltd.
Neuberger Berman LLC
New China Capital Management
Oak Hill Advisors, L.P.
Optcapital LLC
Osmium Capital Management
Otter Creek Management
Paine Heights
PAR Capital Management
PennantPark Investment Advisers
Perella Weinberg Partners
Pershing Square Capital Management
PMA - USA, Inc.
Primus Asset Management
Privet Capital LLC
Profit Investment Management
Protégé Partners, LLC
Prudential Fixed Income
PSQR Capital Management
Ramsey Asset Management
Ramsey Quantitative Systems, Inc.
Regiment Capital Advisors
Revere Capital Advisors LLC
S.A.C. Capital Advisors, LP
Sabretooth Capital Management
Savile Finance Group
Scottwood Capital Management Advisors LP
SeaCap Partners
Shoreline Trading Group
Sire Management Corporation
SK Capital Trust
SkyBridge Capital
Spruce Private Investors, LLC
Systematic Alpha Management, LLC
Taylor Investment Advisors
The 1794 Commodore Funds
The Rohatyn Group
Third Point LLC
Tiburon Capital Management
Tiedemann Wealth Management, LLC
TradeLink
VARA Capital Management, LLC
Victory Capital Management Inc
WestSpring Advisors, LP
YYC Capital Management LP

It was also good to see such a strong turnout - I had so many...

Ken Stemme, Northern Trust Global Advisors Inc

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LAST UPDATED: Monday, April 12, 2010
SUNDAY, MAY 2, 2010

8:00am Golf Tournament at Port Royal Golf Course

Golfers will depart from the hotel at 7 am.

12:00pm Catamaran Sail and Snorkel

Sailors will depart from the hotel at Noon for a 3 hour tour.

1:00pm Tennis Tournament Sponsored By

Tournament will be held at the hotel courts.

3:00pm Registration Opens

6:00pm Welcome Reception Poolside Sponsored by


LAST UPDATED: Tuesday, April 27, 2010
MONDAY, MAY 3, 2010

7:45am Registration & Breakfast Sponsored by

8:15am Welcome from the Bermuda Government

Speaker:
Paula A. Cox, JP, MP, Deputy Premier, GOVERNMENT OF BERMUDA

8:30am Welcome Remarks

Diane Alfano, Managing Director, INSTITUTIONAL INVESTOR

Speakers:
Harvey Shapiro, Senior Editorial Advisor, INSTITUTIONAL INVESTOR

8:40am Keynote Address

Daniel Loeb, Founder & CEO, THIRD POINT LLC [ BIO ]

Daniel Loeb
Founder & CEO
THIRD POINT LLC
Loeb

9:15am Keynote Address

Peter Thiel, President, CLARIUM CAPITAL MANAGEMENT [ BIO ]

Peter Thiel
President
CLARIUM CAPITAL MANAGEMENT
Thiel

9:45am Keynote Address

Bruce J. Richards, President & Chief Executive Officer, MARATHON ASSET MANAGEMENT LLC [ BIO ]

Bruce Richards
President & Chief Executive Officer
MARATHON ASSET MANAGEMENT LLC
Richards

10:15am Coffee Break

10:45am The Outsourced CIO

In an era of heightened risk, increasingly esoteric sources of alpha, and impaired resources, many investors have outsourced the critical CIO role, assigning an external firm the mandate of selecting investments and managing an appropriate risk profile. In theory, this structure allows an investment manager to make decisions free from potential internal spending pressures. In practice, how does this role differ from that of a traditional investment consultant? What are the benefits and what are the drawbacks? What questions should organizations ask as they explore the potential of an outsourced CIO?

Moderator:
Edward Dougherty, Tax Partner, DELOITTE & TOUCHE [ BIO ]

Panelists:
Chris Bittman, Chief Investment Officer, PERELLA WEINBERG PARTNERS [ BIO ]
John Hsuan, Director of Investments, THE FULLER FOUNDATION
Michael J. LeVar MS, CFA, Director of New Services, HAMMOND ASSOCIATES [ BIO ]
Mark Yusko, CEO and Chief Investment Officer, MORGAN CREEK CAPITAL MANAGEMENT [ BIO ]

Edward Dougherty
Tax Partner
DELOITTE & TOUCHE
Dougherty
John Hsuan
Director of Investments
THE FULLER FOUNDATION
Hsuan
Michael LeVar
Director of New Services
HAMMOND ASSOCIATES
LeVar
Mark Yusko
CEO and Chief Investment Officer
MORGAN CREEK CAPITAL MANAGEMENT
Yusko

11:30am Investor Rights: What is Fair & Equitable?

Much attention has been placed on the treatment of investors as a result of recent market dislocations. Many have argued that investor rights were violated while others insist that necessary measures were taken by managers taken to protect the rights of the whole rather than the interests of a few. Others argue that investor rights simply have to take a backseat to more momentous issues in such trying times. Will investors forgive and forget or will recent experience truly influence the future of partnership agreements, terms and conditions? Can we ever define “what is fair”?

Moderator:
Ernest Liébré AIFA, Managing Director, CAMBRIDGE FINANCIAL SERVICES GROUP, INC. [ BIO ]

Panelists:
David Alai, Corporate Vice President, SHARP ELECTRONICS [ BIO ]
Ari Glass, President, PAINE HEIGHTS [ BIO ]
Darren Feld, Advanced Strategies , MESIROW FINANCIAL [ BIO ]
Scott Sherman, Managing Director, BLACKSTONE ALTERNATIVE ASSET MANAGEMENT LP [ BIO ]

Ernest Liébré
Managing Director
CAMBRIDGE FINANCIAL SERVICES GROUP, INC.
Liébré
David Alai
Corporate Vice President
SHARP ELECTRONICS
Alai
Scott Sherman
Managing Director
BLACKSTONE ALTERNATIVE ASSET MANAGEMENT LP
Sherman

12:15pm Lunch

 
Please Note Concurrent Sessions Are Divided Into Track A, Track B & Track C


2:00pm Track A: Pros & Cons of Managed Accounts

Managed accounts became a recent rallying cry for many investors who now demand greater liquidity and better transparency. Many managers have accommodated these requests while others have resisted, citing various reasons as to why they are not acceptable for certain strategies or funds. Are these managed accounts deal-breakers or just another item on investors' list of luxuries, not necessities? What are the pros and cons of investing in separately managed accounts and what critical factors must investors consider before structuring portfolios of them?

Moderator:
Peter Salvage, Managing Director, Global Head of Hedge Fund Middle Office Services, CITI [ BIO ]

Panelists:
John P. Broadhurst Esq., Partner, SHARTSIS FRIESE LLP [ BIO ]
Charles M. Stucke CFA, Chief Investment Officer, GUGGENHEIM INVESTMENT ADVISORS [ BIO ]
Bruce Ruehl, Principal, Advisory Services – Americas, AKSIA LLC [ BIO ]
Jeffrey H Yager, Partner, MCGLADREY & PULLEN, LLP [ BIO ]

Peter Salvage
Managing Director, Global Head of Hedge Fund Middle Office Services
CITI
Salvage
John Broadhurst
Partner
SHARTSIS FRIESE LLP
Broadhurst
Charles Stucke
Chief Investment Officer
GUGGENHEIM INVESTMENT ADVISORS
Stucke
Jeffrey Yager
Partner
MCGLADREY & PULLEN, LLP
Yager

2:00pm Track B: Redefining Research

The face of research has changed dramatically, by necessity. What once was the preserve of exclusive access for clients of big banks now includes independent stand-alone businesses that generate both respect and criticism. What type of research is now in demand? How is research currently used by both hedge funds and investors? How are large institutions competing with seemingly more independent think tanks? And what new trends will emerge to further redefine one of the industry’s most debated topics?

Moderator:
Mark J. Ort CFA, Portfolio Manager, GLAZER CAPITAL, LLC [ BIO ]

Panelists:
Francis Porcelli, , BLOOMBERG TRADEBOOK LLC [ BIO ]
Dan Bender CPA, Chief Financial Officer, RAMSEY ASSET MANAGEMENT [ BIO ]
Michael Mayhew, Chairman & Global Director of Research, INTEGRITY RESEARCH ASSOCIATES, LLC [ BIO ]
Scott Banks, Business Development Manager, BCA RESEARCH
Christian Menegatti, Vice President, Global Economic Research, ROUBINI GLOBAL ECONOMICS

Mark Ort
Portfolio Manager
GLAZER CAPITAL, LLC
Ort
Dan Bender
Chief Financial Officer
RAMSEY ASSET MANAGEMENT
Bender
Michael Mayhew
Chairman & Global Director of Research
INTEGRITY RESEARCH ASSOCIATES, LLC
Mayhew

2:00pm Track C: Longevity Risk: Discovering a Source of Uncorrelated Alpha

In the aftermath of the financial crisis the word ‘correlation” has become the latest profanity. Indeed, with the increased concerns about inflation, fat tail risks and expectations of slower sustainable growth marked by greater volatility, the pursuit for reliably uncorrelated investment opportunities in which downside risks can be consistently managed has become more coveted than perhaps at any time in recent memory. In this session the panelists will review the evidence demonstrating how longevity as an asset class can be shown to be uncorrelated to the movements of more traditional general capital markets and discuss the various ways managers and investors can access the market. They will also provide an overview of the risks, demonstrate how they can be successfully managed and reveal how longevity assets often have considerable embedded alpha that can both enhance returns and provide downside portfolio risk protection.

Speaker:
Michael K. Hickey, Vice President, Life Finance Group, CREDIT SUISSE
Mu'taz Qubbaj, Vice President, Life Finance Group, CREDIT SUISSE

2:45pm Track A: Investor Workshop: Alternative Beta

Panelists:
Lars Jaeger, Managing Partner, Head Of Risk and Risk Management, hedge Fund Business, PARTNERS GROUP [ BIO ]

Lars Jaeger
Managing Partner, Head Of Risk and Risk Management, hedge Fund Business
PARTNERS GROUP
Jaeger

2:45pm Track B: On-Going Due Diligence

Investors have never before tackled the depth of business, operational, compliance and portfolio risks to the extent they are doing now. Now, in addition to judging whether or not a management company has changed since allocation, investors now also ask whether their own portfolio has somehow evolved and if so, do our existing investments still make sense? This re-thinking has led to an on-going due diligence process that has become just as intense as that which potential managers face. This panel will discuss the latest trends and tools in on-going due diligence and risk monitoring.

Moderator:
Craig Bridgewater, Partner, KPMG [ BIO ]

Panelists:
Blair Hedges, Head of Operational Due Diligence, LIONGATE CAPITAL MANAGEMENT LLP [ BIO ]
Oleg Movchan, President & Chief Risk Officer, VARA CAPITAL MANAGEMENT, LLC [ BIO ]
Michael Sloyer, General Counsel, RUANE, CUNNIFF & GOLDFARB INC.

Craig Bridgewater
Partner
KPMG
Bridgewater
Blair Hedges
Head of Operational Due Diligence
LIONGATE CAPITAL MANAGEMENT LLP
Hedges

2:45pm Track C: Risk Management: A Seat at the Table

Few organizational pieces have been as important as risk management in recent years. What is the new role of a risk manager within an organization? How does the risk process dovetail with the investment one? And how are companies effectively communicating their risk profile to their own employees as well as their clients and prospects?

Moderator:
Jorge Mina, Co-Head, Market and Credit Risk , RISKMETRICS GROUP [ BIO ]

Panelists:
Timothy Barefield, COO, PERSHING SQUARE CAPITAL MANAGEMENT [ BIO ]
David Harmston, Head of Client Group & Partner, ALBOURNE AMERICA LLC [ BIO ]
Stephen Jones CFA, Principal, MERCER [ BIO ]
Milton Lewin, Chief Operating Officer & Chief Risk Officer, SCOTTWOOD CAPITAL MANAGEMENT ADVISORS LP [ BIO ]
Alejandro D. Waldman, Head of Risk Management, ANTARCTICA ASSET MANAGEMENT (UK) LLP [ BIO ]

Timothy Barefield
COO
PERSHING SQUARE CAPITAL MANAGEMENT
Barefield
David Harmston
Head of Client Group & Partner
ALBOURNE AMERICA LLC
Harmston
Stephen Jones
Principal
MERCER
Jones
Alejandro Waldman
Head of Risk Management
ANTARCTICA ASSET MANAGEMENT (UK) LLP
Waldman

3:30pm Coffee Break

 
Please Note Concurrent Sessions Are Divided Into Track A & Track B


4:00pm Track A: Return Attribution - Separating Alpha from Beta

What are the most effective ways to evaluate a manager’s performance over time and accurately separate alpha, beta and now “alternative beta”? What metrics have proved constructive and which have left allocators wanting? And what are the best ways to stress test a portfolio to ensure that one is truly paying for alpha?

Moderator:
Daniel Solomon, President and Chief Operating Officer, LYFORD GROUP INTERNATIONAL, LTD. [ BIO ]

Panelists:
Adam Berger CFA, Vice President and Head of Portfolio Solutions, AQR CAPITAL MANAGEMENT [ BIO ]
Lars Jaeger, Managing Partner, Head Of Risk and Risk Management, hedge Fund Business, PARTNERS GROUP [ BIO ]
Clint Stone, Principal Investment Analyst, CORNELL UNIVERSITY, OFFICE OF UNIVERSITY INVESTMENTS [ BIO ]
Bryan Decker, Managing Director, EVALUATION ASSOCIATES [ BIO ]

Daniel Solomon
President and Chief Operating Officer
LYFORD GROUP INTERNATIONAL, LTD.
Solomon
Lars Jaeger
Managing Partner, Head Of Risk and Risk Management, hedge Fund Business
PARTNERS GROUP
Jaeger
Clint Stone
Principal Investment Analyst
CORNELL UNIVERSITY, OFFICE OF UNIVERSITY INVESTMENTS
Stone
Bryan Decker
Managing Director
EVALUATION ASSOCIATES
Decker

4:00pm Track B: Separating Talent from Luck (or Leverage)

When leverage became impaired suddenly, so did many managers' stellar returns. How are investors now evaluating historical returns in the face of less appetite for and availability of leverage? Some are reviewing historical leverage alongside returns and AUM to catch a clear view of the power of borrowing power on performance. Others are using other means of distinguishing which managers displayed superior investing acumen and which simply rode the luck/leverage wave for much of the past decade.

Moderator:
Jeffry R. Haber, Controller, THE COMMONWEALTH FUND [ BIO ]

Panelists:
Oscar Leal, Co Portfolio Manager, THE 1794 COMMODORE FUNDS [ BIO ]
Robert D Gooderham, President, ASHFORD CONSULTING GROUP [ BIO ]
Stephen McCaffrey, Senior Counsel for Plans, NATIONAL GRID USA [ BIO ]

Jeffry Haber
Controller
THE COMMONWEALTH FUND
Haber
Stephen McCaffrey
Senior Counsel for Plans
NATIONAL GRID USA
McCaffrey

4:00pm Track C: Getting a Grip on the Real Risks and Opportunities in Emerging Markets

Emerging markets have gained new attention as a result of coming through the economic crisis quicker and in far better shape than might have been imagined not so long ago. In addition, of course, they are expected to continue to grow at a far greater pace than the developed world for many years to come. Still, institutional investors have resisted allocating to these markets as might be expected due to the continuing, and often accurate impression that they represent smaller, less liquid, more volatile and more difficult areas to trade in, thereby making the risks harder to quantify and to manage. So despite relatively long-term performance that in many cases would be envied when compared to other options, in a majority of cases institutions likely remain underexposed to emerging markets as a percentage of their portfolios. In this session we will examine the risks and opportunities emerging markets offer in major asset classes and review both traditional and new ways these risks are being managed.

Moderator:
Michael Ocrant, Director, INSTITUTIONAL INVESTOR

Panelists:
Jorge Mariscal , Partner, Director of Research , THE ROHATYN GROUP [ BIO ]
David Jonas, Managing Director, FINISTERRE CAPITAL [ BIO ]

Jorge  Mariscal 
Partner, Director of Research 
THE ROHATYN GROUP
Mariscal
David Jonas
Managing Director
FINISTERRE CAPITAL
Jonas

4:45pm Track A: Alignment of Interests

A recent investor study by AR magazine found that alignment of interests ranked highest among investor concerns – beating out independent oversight and alpha generation, which came in second and third respectively. Do managers with significant portion of their own net worth invested actually outperform? Does a 2% management fee size fit all? Are investors voting with their feet on fees? How can a manager best structure a business to support investor needs without undermining the LP’s own stability and flexibility?

Moderator:
Robert G. Leonard, Partner, BINGHAM MCCUTCHEN [ BIO ]

Panelists:
Jonathan Koerner, Investments Legal Analyst, UTAH RETIREMENT SYSTEMS (URS) [ BIO ]
David Shukis, Managing Director, CAMBRIDGE ASSOCIATES [ BIO ]
Paul Tiranno, Director of Alternative Investments, MERRILL LYNCH PRIVATE WEALTH MANAGEMENT [ BIO ]
Christine Woodhouse, General Counsel, TAYLOR INVESTMENT ADVISORS [ BIO ]

Robert Leonard
Partner
BINGHAM MCCUTCHEN
Leonard
Jonathan Koerner
Investments Legal Analyst
UTAH RETIREMENT SYSTEMS (URS)
Koerner
David Shukis
Managing Director
CAMBRIDGE ASSOCIATES
Shukis
Christine Woodhouse
General Counsel
TAYLOR INVESTMENT ADVISORS
Woodhouse

4:45pm Track B: FX Insights: What is Changing in Foreign Exchange?

The global quest for alpha has continued unabated, and many investors are focusing on the returns that can be generated by FX, a market that has been transformed not only by improvements in performance but also through the efficiencies created by rapid technical advances. How can investors and managers best access the FX market? What are the benefits and disadvantages of central clearing? What are the most pressing regulatory issues? What is the new role of prime brokers in the market?

Moderator:
C. David Gilmore CFP, Director of Investments, THE OHIO STATE UNIVERSITY [ BIO ]

Panelists:
Scott Brusso, Director, FX Products, CME GROUP [ BIO ]
James Lubin, Principle & Director, HYMAN BECK & COMPANY [ BIO ]
Bluford H. Putnam, PhD, Co-Founder, EQA PARTNERS, LP [ BIO ]
Arvin Soh, Investment Manager, GAM MULTI-MANAGER [ BIO ]

Scott Brusso
Director, FX Products
CME GROUP
Brusso
James Lubin
Principle & Director
HYMAN BECK & COMPANY
Lubin
Bluford Putnam, PhD
Co-Founder
EQA PARTNERS, LP
Putnam, PhD
Arvin Soh
Investment Manager
GAM MULTI-MANAGER
Soh

5:30pm Time at Leisure

6:00pm Beach Reception Sponsored by


LAST UPDATED: Monday, April 12, 2010
TUESDAY, MAY 4, 2010

8:00am Breakfast Sponsored by

8:30am Welcome Remarks

Speaker:
Diane Alfano, Managing Director, INSTITUTIONAL INVESTOR

Panelists:
Harvey Shapiro, Senior Editorial Advisor, INSTITUTIONAL INVESTOR

8:35am Keynote Address

Speaker:
Harry Markopolos, , MADOFF WHISTLE BLOWER

9:35am Keynote Address

Speaker:
Paolo Marco Pellegrini, Founder, PSQR CAPITAL MANAGEMENT [ BIO ]

Paolo Marco Pellegrini
Founder
PSQR CAPITAL MANAGEMENT
Pellegrini

10:05am The Future of the Hedge Fund Industry

The hedge fund has faced unprecedented challenges in the past year. Bank failures, the short-selling ban, a global market meltdown and a host of other factors combined to pressure the industry in extraordinary ways. This panel of experts will reflect on the current state of the industry and discuss where we go from here.

Moderator:
Michael Mollet, Director, CHICAGO BOARD OPTIONS EXCHANGE [ BIO ]

Panelists:
Mark Carhart, CEO, KEPOS CAPITAL LP [ BIO ]
J. Scott Carpenter, Senior Managing Director, COO NY/NJ, STATE STREET ALTERNATIVE INVESTMENT SOLUTIONS [ BIO ]
Ron S Geffner, Partner, SADIS & GOLDBERG LLC [ BIO ]
John B Trammell, CEO, CADOGAN MANAGEMENT, LLC [ BIO ]

J. Scott Carpenter
Senior Managing Director, COO NY/NJ
STATE STREET ALTERNATIVE INVESTMENT SOLUTIONS
Carpenter
Ron Geffner
Partner
SADIS & GOLDBERG LLC
Geffner
John Trammell
CEO
CADOGAN MANAGEMENT, LLC
Trammell

10:50am Coffee Break

 
Please Note Concurrent Sessions Are Divided Into Track A and Track B


11:15am Track A: Regulatory Update

Few issues dominate the industry’s attention like the current state of regulatory expansion. As more regulations evolves from a question of “if” to “when” this panel of experts and insiders looks to the future.

Moderator:
Harry S. Davis, Partner, SCHULTE ROTH & ZABEL LLP [ BIO ]

Panelists:
Paul S. Atkins, Former Commissioner, SECURITIES AND EXCHANGE COMMISSION [ BIO ]
George S. Canellos, Director, New York Regional Office, U.S. SECURITIES AND EXCHANGE COMMISSION [ BIO ]
Todd Groome, Chairman, ALTERNATIVE INVESTMENT MANAGEMENT ASSOCIATION (AIMA) [ BIO ]

Harry Davis
Partner
SCHULTE ROTH & ZABEL LLP
Davis
Paul Atkins
Former Commissioner
SECURITIES AND EXCHANGE COMMISSION
Atkins
George Canellos
Director, New York Regional Office
U.S. SECURITIES AND EXCHANGE COMMISSION
Canellos
Todd Groome
Chairman
ALTERNATIVE INVESTMENT MANAGEMENT ASSOCIATION (AIMA)
Groome

11:15am Track B: Credit: Mining for Gems Amid the Rubble

Credit managers may have felt more pain and volatility than any other sector in recent financial events. Yet many continue to be optimistic about their own abilities to find value amid wreckage. Investors are clearly warming to the potential opportunities but many are leery of the sustainability of the recent rally. So, how are credit managers mining for opportunities while avoiding dangers? Which sectors offer the most attractive opportunities? What are the realistic duration needs of those focusing on distressed credit and how can investors align this strategy with their own liquidity needs?

Moderator:
Jay B. Gould, Partner, PILLSBURY WINTHROP SHAW PITTMAN LLP [ BIO ]

Panelists:
Robert Becker, Partner, BREAKPOINT ASSET MANAGEMENT [ BIO ]
Richard Brennan, Chairman & CEO, CAMULOS CAPITAL [ BIO ]
Peter Lupoff, President, TIBURON CAPITAL MANAGEMENT [ BIO ]
Steve Persky, Founder and Managing Partner, DALTON INVESTMENTS LLC [ BIO ]

Jay Gould
Partner
PILLSBURY WINTHROP SHAW PITTMAN LLP
Gould
Robert Becker
Partner
BREAKPOINT ASSET MANAGEMENT
Becker
Richard Brennan
Chairman & CEO
CAMULOS CAPITAL
Brennan
Peter Lupoff
President
TIBURON CAPITAL MANAGEMENT
Lupoff
Steve Persky
Founder and Managing Partner
DALTON INVESTMENTS LLC
Persky

12:00pm Track A: China & Beyond: Opportunities in Asia

Whether driven by demographics, politics or an increasingly favorable trade position vis-a-vis more developed economies, China’s importance to both Asia and the rest of the world cannot be over-estimated. But with great opportunities come intense risks. Amidst the euphoria, where are investors seeing opportunities? How much does it take to overcome qualms about government intervention & fluctuating tax & regulatory regimes? At what point do the potential returns become worth the potential downside? Investors will discuss the current economic state of Asia.

Moderator:
Robert Maroney, Managing Member, CONNECTICUT INVESTMENTS LLC [ BIO ]

Panelists:
Anthony Grant Huston, Managing Director, Chairman of Asset Allocation Committee, PMA - USA, INC. [ BIO ]
John Liu, President and Chief Investment Officer, HAN CAPITAL MANAGEMENT [ BIO ]
Paul Wolansky, Chairman, NEW CHINA CAPITAL MANAGEMENT [ BIO ]

Anthony Huston
Managing Director, Chairman of Asset Allocation Committee
PMA - USA, INC.
Huston
John Liu
President and Chief Investment Officer
HAN CAPITAL MANAGEMENT
Liu
Paul Wolansky
Chairman
NEW CHINA CAPITAL MANAGEMENT
Wolansky

12:00pm Track B: Quantitative Strategies: Return to the Spotlight?

Many investors felt burned when quantitative strategies proved highly correlated to each other and the broad market in the worst months of the financial crisis. Yet cooler hands at the wheels of discretionary funds did not fare much better. With many quantitative mangers going back to the modeling drawing board and re-examining their input factors – and the very attractive liquidity terms of many in this space - is now the time to revisit this strategy? How should investors best evaluate this strategy both from the alpha-generation standpoint and the potential impact of new SEC and FINRA regulations?

Moderator:
Russ Rausch, Executive Vice President/ Global Buyside Sales, TRADING TECHNOLOGIES [ BIO ]

Panelists:
Tony Broccardo, Chief Investment Officer, THE BARCLAYS UK RETIREMENT FUND [ BIO ]
Michael S. Harris, Director of Trading, CAMPBELL & COMPANY [ BIO ]
Andrew Kaplan, Director of Marketing, SYSTEMATIC ALPHA MANAGEMENT, LLC [ BIO ]
Chris Satterfield, President, RAMSEY QUANTITATIVE SYSTEMS, INC.

Russ Rausch
Executive Vice President/ Global Buyside Sales
TRADING TECHNOLOGIES
Rausch
Tony Broccardo
Chief Investment Officer
THE BARCLAYS UK RETIREMENT FUND
Broccardo
Michael Harris
Director of Trading
CAMPBELL & COMPANY
Harris
Andrew Kaplan
Director of Marketing
SYSTEMATIC ALPHA MANAGEMENT, LLC
Kaplan

12:45pm Lunch

2:00pm Is it a Myth that Smaller Managers Will Always Outperform the Larger Ones?

Until recently, it was accepted as a given that the smaller, nimble managers could chase the best opportunities. How many times did we hear that a successful manager had grown too large? Is that conventional wisdom still valid? Could larger managers have the edge now, with more robust infrastructure and institutional business models? Yet, in 2008, many small managers did distinguish themselves with outsized returns on minimal assets and resources. Does size really matter?

Moderator:
Spencer Edge CFA, CAIA, Vice President, TIEDEMANN WEALTH MANAGEMENT, LLC [ BIO ]

Panelists:
Charles Krusen , Founder and CEO, KRUSEN CAPITAL MANAGEMENT, LLC [ BIO ]
Hugh Lamle, President, M.D. SASS INVESTOR SERVICES, INC. [ BIO ]
Anthony Scaramucci, Managing Partner, SKYBRIDGE CAPITAL [ BIO ]
Sebastian A. Stubbe, Partner, LANDMARK VALUE INVESTMENTS [ BIO ]

Spencer Edge
Vice President
TIEDEMANN WEALTH MANAGEMENT, LLC
Edge
Charles Krusen 
Founder and CEO
KRUSEN CAPITAL MANAGEMENT, LLC
Krusen
Hugh Lamle
President
M.D. SASS INVESTOR SERVICES, INC.
Lamle
Anthony Scaramucci
Managing Partner
SKYBRIDGE CAPITAL
Scaramucci

2:45pm Does Your Business Model Make Sense?

Investors are increasingly demanding funds to prove they can run not just a portfolio, but also a business. Due diligence meetings now include not just turnover and organizational chart questions but demands for codes of ethics, policies for due process, external review of key functions, and a defense of the metrics that are being deployed to detect the health of the group. What potential disruption-to-business risks exist and how are they being addressed? What is the appropriate use of checks and balances? This panel will explore the veracity of the entire business – not simply the portfolio. What needs to be fixed and what's best left as is?

Moderator:
Harvey Shapiro, Senior Editorial Advisor, INSTITUTIONAL INVESTOR

Panelists:
John Kelty Esq., Managing Director, MARINER INVESTMENT GROUP, LLC [ BIO ]
Thomas Quinn, Chief Operating Officer, DIFIGLIA CAPITAL MANAGEMENT LLC [ BIO ]
Brian J. Tsai, Chief Operating Officer, EQUINOX PARTNERS, L.P. [ BIO ]

Brian Tsai
Chief Operating Officer
EQUINOX PARTNERS, L.P.
Tsai

3:15pm The Great Gate Debate: Who Was Ultimately Protected?

The inherent right – or lack thereof – for a manager to impose a gate created many heated discussions in the wake of substantial market dislocation. Managers argued that they were well within their rights to impose gates and protect the entire body of their investors, not simply those looking to withdraw. Others argued that gates protected the manager first and did little (or worse, harmed) investors who needed liquidity or lost confidence in a manager’s ability after poor performance. Now, with the luxury of time and 20/20 hindsight, this panel will look back on the use of gates and attempt to answer the most critical question: Did gates protect managers or investors? And did we learn anything in terms of the appropriate use of gates in the future?

Moderator:
Edwin T. Burton, Trustee/Chairman, Benefits & Actuarial Committee, UNIVERSITY OF VIRGINIA, VIRGINIA RETIREMENT SYSTEM [ BIO ]

Panelists:
George Mazin, Partner, DECHERT LLP [ BIO ]
Ralph Nacey, Principal, WESTSPRING ADVISORS, LP [ BIO ]
Morten Spenner, CEO, INTERNATIONAL ASSET MANAGEMENT LIMITED (IAM) [ BIO ]

Edwin Burton
Trustee/Chairman, Benefits & Actuarial Committee
UNIVERSITY OF VIRGINIA, VIRGINIA RETIREMENT SYSTEM
Burton
George Mazin
Partner
DECHERT LLP
Mazin
Ralph Nacey
Principal
WESTSPRING ADVISORS, LP
Nacey
Morten Spenner
CEO
INTERNATIONAL ASSET MANAGEMENT LIMITED (IAM)
Spenner

4:00pm Institutional Investor Global Hedge Fund Summit Concludes


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