08:25 OPENING KEYNOTE
Assistant Comptroller for Pensions
New York City Retirement System
Joseph J. Haslip currently serves as Assistant Comptroller for Pensions, for New York City Comptroller, the Honorable William C. Thompson Jr., and serves as the Comptroller’s trustee representative to four of the city’s five pension boards.
The New York City Retirement System’s is composed of the five pension boards which are as follows: The New York City Employees’ Retirement System, The Teachers Retirement System of the City of New York, The New York City Police Pension Fund, The New York City Fire Pension Fund, as well as The New York City Board of Education Retirement System.
The total assets under management for the five funds are approximately $ 90 Billion.
Joe also sits for the Comptroller on the $ 7 Billion New York City Deferred Compensation Board.
At the request of Comptroller Thompson, Joseph was charged with working with the Bureau of Asset Management in developing a strategy to increase the plan’s exposure to smaller / minority and women investment managers. As a result of Joe’s efforts coupled with the Bureau’s and the Board of Trustees, New York City increased its commitment from $ 1.5 Billion to close to $ 7Billion.
In private equity alone, within the city’s $ 5 Billion PE Program, the trustees recently adopted an increase of $ 450 Million to their emerging manager fund of fund program, and will shortly be announcing a new co-investment fund which will invest alongside minority and women funds.
Joseph also has served as Co-Chairperson for the Opal Emerging Manager Summit in both 2005 and 06. This national conference attracts hundreds of emerging investment managers across asset classes each year, and provides a forum for them to interact with institutional investors.
Recently he was invited to serve on The Dow Jones Wilshire National Pension Fund Task Force. This group which consists of leading pension fund trustees and administrators, was brought together to look at the major challenges facing public plans on both the investment and benefits sides.
Prior to working with Comptroller Thompson, Joe served as Chief of Staff and Director of Policy in The New York State Legislature to then State Senator and now Governor David A. Paterson.
In his home City of New York, Joe has been extremely active in the area of community development serving as a board member of such groups as The Upper Manhattan Empowerment Zone and The Harlem Community Development Corporation.
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08:50 CURRENT CRITICAL INVESTMENT ISSUES FOR INVESTORS AND THEIR MANAGERS
Family Investment Officer
GenSpring Family Office
Eric Knauss is a Family Investment Officer in GenSpring’s Greenwich Local Family Office. Eric is charged with the introduction, implementation and management of GenSpring Family Offices’ investment process. His responsibilities include investment policy formation, asset allocation strategy development, investment manager selection, portfolio performance monitoring and client relationship management. Additionally, he serves as Chairman of GenSpring’s Investment Risk Committee and is a member of both the GenSpring Investment and Manager Selection Committees.
Eric has over 23 years of experience in the investment management industry. Prior to joining GenSpring, he served as Director of Investment Manager Research for a wealth management firm, Director of T. Rowe Price’s Private Client Group overseeing $3.5 billion in taxable portfolios, Chairman of T. Rowe Price’s after-tax asset allocation committee.
Eric earned a Bachelor of Arts degree at Wesleyan University. He is a Chartered Financial Analyst (CFA).
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Head of Risk Management, Derivatives, and Alternative Investments
CFA Institute
Head of Risk Management, Derivatives and Alternative Investments for the CFA Institute. Previously Haslett served as director of option analytics for Miller Tabak + Co., LLC and CEO of Miller Tabak Capital Management and spent two decades on the options trading floor, where he managed portfolios of stocks and options. He previously served as a board member of the New York Society of Security Analysts, Chairman of the Board of Regents for the Financial Analysts Seminar and President of the CFA Society of Philadelphia. He is an active volunteer for CFA Institute, having served in a variety of capacities, including CFA exam grader and member of the Council of Examiners. Mr. Haslett has also taught coursework on options at New York University, Johns Hopkins, and Rutgers. He is the founding chairman of the Derivatives Committee for the New York Society of Security Analysts and is a member of the Institutional Investor Advisory Committee for the Chicago Board of Options Exchange. He has conducted option presentations and workshops at more than 50 CFA Institute societies and holds masters degrees from the University of Pennsylvania and Drexel University.
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Chairman
L Investments
David Lifschultz has a long and successful career in directing companies in the fields of technology, transportation and energy. He is the President and Chief Executive Officer of Lifschultz Terminal Leasing Inc., a holding and investment company that allocates capital for alternative energy technologies and energy technologies that create greater efficiencies. He has been an investor in the oil and energy industry for the past 20 years with consistent annual returns on capital. He has a vast portfolio of oil and energy related companies.
For 10 years, Mr. Lifschultz was President and CEO of Lifschultz Industries Inc, a high tech precision heat measuring company that measured heat to the nano degree, which was sold to Danaher in 2001. Mr. Lifschultz built the Company up from $1.50 stock value and $2 million in sales with no profits and sold it 8 years later for $33 million ($22.80 per share) to Danaher (DHR). Family transportation interests date back to 1899. He is the largest shareholder and sits on the Board of Directors of Worldwater Inc., a solar power company. He is the largest and controlling shareholder of Genoil, and has invested millions of dollars in the company to develop its upgrading technology.
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Charles Krusen 
CIO, Krusen Family Office
Founder and CEO, Krusen Capital Management, LLC
Charles Krusen is the founder and CEO of Krusen Capital Management, LLC, which is the advisor to the LionHedge Platform, a single and multimanager hedge fund and private equity platform, providing high net worth individuals and select institutions with access to top tier managers. Krusen Capital Management’s application for Registered Investment Adviser was approved by the SEC in July 2009. In addition, Mr. Krusen is the Chief Investment Officer of Krusen Family Office, a single family office based in Tampa, FL, with an investment office in New York, NY. The family’s investment strategy is a core/satellite approach using a combination of ETFs, long-only and alternative managers. Its primary goal is absolute return on a tax efficient basis. Before founding Krusen Capital Management, Mr. Krusen was a Partner with Alpha Equity Management, an asset management organization that focuses on long/short strategies. He has more than 35 years experience in financial services, having begun his career with Citibank Capital Markets, specializing in arbitrage and proprietary trading of fixed income. Mr. Krusen subsequently worked with Fimat (subsidiary of Societe Generale), where he developed derivative strategies for equity private placements and created the Hedge Fund Strategies Group. He is on the Board of Trustees of the Southampton Hospital Foundation. Mr. Krusen is an honors graduate of Harvard College.
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09:35 ASSET ALLOCATION IN A WORLD ON DIFFERENT RECOVERY PATHS
Drexel University
Dr. Benrud earned his doctorate at the University of Virginia. He has won awards for his research on competition in financial services and option pricing. He holds the Chartered Financial Analyst (CFA®), Financial Risk Manager (FRM®), and Chartered Alternative Investment Advisor (CAIA®) designations. He has delivered seminars on many topics in finance on four continents, and he has been interviewed by many media organizations. For many years, Dr. Benrud worked for the CFA Institute in various capacities. Currently, in addition to his position at Drexel University, he serves as the Curriculum Director of the Chartered Alternative Investment Analyst (CAIA) program for Institutional Investor.
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Managing Director, Manager Alliances Program
Glenmede Investment and Wealth Management
Ben Alimansky joined Glenmede in 2008 as managing director of Glenmede’s 'Manager Alliances Program', monitoring outside hedge funds and other opportunistic investment strategies. Glenmede is a $17 billion dollor Philadelphia-based investment and wealth management firm.
Prior, Ben was senior vice president and portfolio manager at Brooklyn NY Holdings.
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Senior Advisor
Finles N.V.
Finles N.V. was founded in 1977 by the NCHP nowadays De Unie, a labor union for white collar employees in the Netherlands and the Centraal Beheer Insurance company, nowadays ACHMEA Insurance. Finles is regulated by the Netherlands Authority for the Financial Markets (AFM) and is a member of the Dutch Securities Institute (DSI). Finles Capital Management pursues absolute return and principal investing strategies globally and advises select highly accomplished investment managers and companies.
Sonny Saksena is the Senior Advisor to Finles in North America and Principal for Maihar Capital Strategies, LLC. His responsibilities include corporate development, principal investing, manager selection and due diligence. He has over 15 years of broad ranging experience with Fortune 100 companies. Mr. Saksena started his career with Larsen and Toubro Limited in India where he was responsible for performing corporate development activities and managing infrastructure projects. In 1994 he joined PricewaterhouseCoopers (PwC) Management Consulting Services in New York and he subsequently became a Partner with IBM Business Consulting Services following their acquisition of PwC’s consulting business. Mr. Saksena has over 15 years of international experience covering a broad spectrum of strategic and financial issues for senior executives at Fortune 100 companies.
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Senior vice President
Atlantic Trust
Jigar Patel is a senior investment analyst responsible for hedge fund strategy research within the Multi-Manager Investment Program's Alternatives Investment Team. Prior to joining Atlantic Trust, Jigar worked as a research analyst for Asset Alliance, a $3.2 billion hedge fund of funds, analyzing hedge fund strategies. He also assisted the head of research in portfolio construction and hedge fund manager due diligence. Prior to Asset Alliance, Jigar worked for Bank of America as an analyst in their interest rate derivatives group. He started his career as an institutional program trader employing quantitative strategies at Bank of New York’s QETG trading desk. Jigar is an active committee member of the Boston Society of Security Analysts’ Alternative Investment Group and also holds his Series 7, 55 and 63 licenses. He earned a Bachelor of Arts in finance from Rutgers University and a Master of Science in financial engineering with honors from NYU-Polytechnic University and holds the CFA designation.
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CEO
Kaufman Family LLC
Mr. Glenn Kaufman is President of Kaufman Family LLC, a family investment office that invests directly across all asset classes and indirectly via 3rd party managers and funds. As an individual contributor, he finds new investment opportunities, hedges the portfolio, runs the internal commodities portfolio, and invests in tech-related (non-life sciences) companies. Glenn began his investing career in 1986 as an assistant equity research analyst at First Boston.
Mr. Kaufman sits on advisory boards and boards of XDS, National Foundation for Entrepreneurship (NFTE), and Grassroots Environmental Education & Phelps Memorial Hospital, respectively. He holds an engineering degree from the University of Pennsylvania and a MBA from the Wharton School. “The Pricing of Red Bordeaux”, the topic of his MBA thesis, became recognized in 1989 as a controversial but objective statistical method on how to measure the quality of a vintage.
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10:50 PRIVATE EQUITY/SECONDARIES
Managing Director, Research & Product Management
Proctor Investment Managers
Neal oversees acquisition research, due diligence and product and performance analysis, supporting Proctor’s private equity investment activities. He was a Managing Director and Portfolio Manager at Avatar Associates, responsible for the financial services sector and fixed income portfolios. He was also a founding partner of Overture Asset Managers, LLC where he conducted acquisition research, performance attribution and product development for their portfolio companies. Formerly, Neal was a mergers and acquisitions Associate, then Vice President and Director of Equity Research at Putnam Lovell Securities, focusing on publicly traded asset managers and industry strategy. Earlier, Neal worked in mergers and acquisitions at Yamaichi Securities & Co., Ltd, in their New York offices, and in fixed income in Morgan Stanley’s Tax Exempt Securities Group. Neal also conducted international country-focused economic research at Marine Midland Bank, an HSBC Company.
Mr. Epstein earned an M.B.A. from the Darden Gradate School of Business, an M.A. in Asian Studies from the University of Virginia, and an M.A. in Economics from Columbia University. He earned his B.A. in Philosophy from Swarthmore College. Neal is a Chartered Financial Analyst and a member of both the New York Society of Security Analysts and the CFA Institute.
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Partner
Paul Capital Partners
Brian Sullivan joined Paul Capital Partners in 1998. He is responsible for identifying, diligencing and negotiating secondary private equity transactions. His background includes work as a business strategy consultant for the Boston Consulting Group and as an engineer and surface warfare officer in the US Navy's nuclear power program. He received an MBA (with a focus in finance) from The Wharton Business School at the University of Pennsylvania and his BS in Mechanical Engineering from the United States Naval Academy.
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Managing Director
PCG Asset Management
Michelle Davidson, Managing Director, manages PCG Asset Management’s portfolio management and analytics activities. Ms. Davidson is a member of the firm’s Executive Committee and the Investment Committee. Ms. Davidson has more than 20 years of financial services experience, spending the last 18 years exclusively focused on private equity. She has returned to PCG Asset Management where she spent six years in the mid-1990s, and was strategically involved with the CalPERS account, helping them build their then brand-new private equity program. Since then, Ms. Davidson has been a consultant at a subsidiary of Deloitte & Touche, and, spent six years at State Street Corp. where she developed and managed the consulting unit of The PrivateEdge Group, a practice that provides independent, value-added investment consulting services to large institutional investors within the private equity and real estate asset classes. Earlier in her career, Ms. Davidson worked for GMAC Finance Corp., focused on the trading and hedging of mortgage-backed securities, and also worked for a regional accounting firm. Ms. Davidson sits on various partnership advisory committees, and represents PCG Asset Management on the Private Equity Steering Committee for the United Nations Principals of Responsible Investment. Ms. Davidson is a Certified Public Accountant and earned her Business Administration degree from San Diego State University with an emphasis in Finance, where she graduated with Honors.
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Managing Director
Bay Grove Capital
Mr. Marchetti is a co-founder of Bay Grove Capital. Bay Grove is a principle investment firm that opportunistically invests on behalf of an exclusive Member group. This Member group consists of influential individuals, family offices, and sophisticated investment groups. Bay Grove facilitates Member investments in exceptional businesses and further enables Members to leverage their expertise and relationships to benefit portfolio companies. The Firm focuses on $5mm to $25mm lead or partner equity investments in growing, profitable businesses. Bay Grove is based in San Francisco and its principals and advisors have backgrounds from some of the best known equity private firms and financial institutions.
Prior to Bay Grove, Mr. Marchetti was an investor with Ron Burkle and The Yucaipa Companies where he helped invest and monitor over $3.3 billion in various private equity transactions. While at Yucaipa, Mr. Marchetti also served as Ron Burkle’s principal deal advisor for his non-fund-related transactions and sat on the board of the Pittsburgh Penguins.
Mr. Marchetti started his career with Morgan Stanley in its investment banking group in San Francisco, where he focused on M&A and covering financial sponsors. Mr. Marchetti graduated from Duke University.
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Managing Principal
TerraCap Partners LP
In 1997, Mr. Hagenbuckle with the proceeds of the sale of Techware, initiated his Self Funded Real Estate “Incubator Fund” which has had an impressive average return of 65% CAGR per year for the past thirteen (13) years with 26 transactions. He has acquired, constructed and/or sold over $90,000,000 in real estate related transactions which included successful projects in Residential and Commercial Construction and Development. He has managed and been a partner in over 14 Real Estate Investment Trusts. Capitalizing on current opportunity and distressed markets Mr. Hagenbuckle and his partners have launched TerraCap Partners LP a Distressed Opportunistic Real Estate Private Equity Fund. Mr. Hagenbuckle has an expansive network of National and Regional Developers, Builders and Brokers both Commercial and Residential positioning TerraCap Management Corp for first hand purchase and sale information and opportunities.
Mr. Hagenbuckle has appeared on Bloomberg TV, FOX Business News and been interviewed by and quoted in the Wall Street Journal, New York Times, Forbes.com, Reuters and Market Watch. He has lectured at the undergrad and graduate level at the University of Colorado, College of Entrepreneurship on the topics of: “Ethics and the Entrepreneur” and “Managing Growth”. Mr. Hagenbuckle has presented multiple times with Chief Economists at locations including The University Club in NYC and Rockefeller Plaza. He has participated as a Real Estate Speaker/Panelist at the Catalyst Financial Group Seminars and Ivy Plus in New York City. He is a member of the National Association of Realtors (NAR) and is a licensed Real Estate Broker in the State of Florida.
Mr. Hagenbuckle is Florida Native and a graduate from University of Florida, BS (Computer Science and Engineering – College of Business) 1985.
He is one of the initial investors in Landmark Bank/giantbank.com (Fort Lauderdale). Mr. Hagenbuckle has been an active board member for more than nine (9) years.
TerraCap Partners is represented by multiple broker dealers including Scarsdale Equities of New York City, First Florida Securities of Florida and Pro Equities (limited basis).
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11:35 CREDIT / DISTRESSED DEBT
Portfolio Manager
Utendahl Capital Management
Vesta Marks first joined UCM in 2003. He has 8 years of experience in the financial services industry with a focus on securitized debt. His primary responsibilities include portfolio management and analysis of ABS and MBS products. Formerly, Mr. Marks was a Portfolio Analyst at Earnest Partners and a Research Analyst at Independent Bankers Bank of Florida. Other experience includes serving as an adjunct professor of mathematics. Mr. Marks holds a BS in Mathematics from the Massachusetts Institute of Technology and is a CFA charter holder. He is a member of the New York Society of Security Analysts and the CFA Institute.
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President and CIO
Mudrick Capital
Jason began his Wall Street career in 2000 advising on mergers and acquisition transactions as an Associate in Merrill Lynch’s Mergers & Acquisitions Investment Banking Group. In late 2001 he joined Contrarian Capital Management, LLC where he began his focus on distressed investing. In October 2002 Jason launched the Contrarian Equity Fund, LP, an investment vehicle focused on purchasing distressed debt that would be restructured into equity, post-bankruptcy equities and other event driven deep value special situations. As Managing Director and Portfolio Manager at Contrarian, Jason grew that business to peak assets of approximately $400 million in the Contrarian Equity Fund and close to $1 billion in total assets including the positions Contrarian’s other funds co-invested along side. Jason chose to leave Contrarian in October 2008 after generating an unlevered six year audited net IRR of 19.45% to launch his own firm Mudrick Capital Management, LP. Jason has chaired an ad hoc committee of creditors in the Northpoint bankruptcy and served on the Board of Directors of numerous public and private companies, including Safety-Kleen Holdings, Integrated Alarm Services Group, Salton and Rotech Healthcare. Jason also spent two years in graduate school teaching economics classes to Harvard University undergraduates. Jason has a BA in Political Science from the College of the University of Chicago, where he graduated with the highest GPA in his class, and a JD from Harvard Law School, where he graduated cum laude. Jason is admitted to the New York State Bar.
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1:20 AFTERNOON KEYNOTE
Senior Vice President
Coventry
David Cherkas is Senior Vice President for Coventry. With deep experience in
capital markets and extensive knowledge of the secondary market for life
insurance, Mr. Cherkas is a key member of Coventry’s Capital Markets Group
where he is responsible for extending Coventry’s industry-leading distribution
platform throughout the United States.
Previously, Mr. Cherkas served as Senior Vice President, Account Services and
was responsible for developing strategic alliances with key national accounts
within the financial services industry. A respected national educator and speaker
on the secondary market for life insurance, Mr. Cherkas serves as a mentor and
coach to Coventry’s Regional Vice Presidents in the development of their
respective regions.
Mr. Cherkas joined Coventry in 1999 after serving as a consultant for
Pricewaterhouse Coopers where he focused on the financial analysis of
institutionally owned real estate portfolios. He received a Bachelor of Arts
degree from Lehigh University.
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1:40 NICHE STRATEGIES
Investment Portfolio Manager
Stanley Gibbons
Geoff Anandappa is an international speaker and renowned expert on investing in rare stamps and historical memorabilia.
Having graduated from St Andrew’s University in Scotland, Geoff pursued a career in management and sales & marketing – before a lifelong interest in philately prompted him to join the Investment Department at Stanley Gibbons.
On a day-to-day basis, Geoff works with high net worth individuals and financial professionals to provide guidance about alternative investments and diversifying into collectibles, an asset class with no correlation to mainstream investments.
With appearances on CNN, CNBC, BBC Television and Radio, and contributions to many national and international newspapers and magazines, Geoff is in demand as a speaker around the world.
Geoff’s presentation will cover the history of stamps and will reveal why stamps and historical memorabilia are one of the most undervalued asset classes. With low volatility over a 50-year period, and minimum returns guaranteed by Stanley Gibbons, it is no exaggeration to say that this is one of the best investments for those seeking to diversify their portfolio.
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Director of Capital Markets
The Dalmore Group
Josh Kalter is Director of Capital Markets for The Dalmore Group, a boutique investment bank based in New York specializing in financing and commercial structures for global mining operations. He has created numerous unique financing and hedging (Comex and LME) vehicles for the metal & mining industry that incorporate Mr. Kalter’s 25 years of experience as a commodities trader. Mr, Kalter has established extensive industry relationships in the ferrous, non-ferrous and precious metals sector that span the globe.
Mr. Kalter also consults extensively with a wide array of fund managers and private equity groups regarding the fundamentals of the metal markets. Specifically, his unique perspective on the physical commodity markets provides invaluable insight to equity investors. He has delivered seminars on topics such as "Minor Metals and Ferroalloys", "Transportation, Freight and Logistics in the Global Metals Industry” and "Chinese Metal & Ore Export Policy".
Mr. Kalter has worked in New York and London for international commodity firms, Philipp Brothers ( Phibro) and Metallgesellschaft ( MG).
Mr. Kalter holds a BS and MBA from New York University as well as Series 7 and 63 Licenses.
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2:20 MACRO / EQUITY STRATEGIES
Supervisor for Business Development
Kaufman Rossin Fund Services
Michael McCuin is supervisor for business development in KRFS' Boston office. His prior experience includes managing many high profile relationships at JPMorgan Prime Brokerage (formerly Bear Stearns), as well as six years of institutional sales trading with CIBC World Markets. In addition to being a Registered Securities Representative (series 7, 63 & 55), Mike has extensive experience with hedge fund technology systems, currency exposure, best execution and various margin vehicles from 9 years on Wall Street. Mike received his Bachelor's degree in Business Administration from Furman University, in Greenville, South Carolina. He has been an active member of various organizations and charities in the investment community, including Hedge Funds Care, Southeastern Hedge Fund Association, Boston Securities Traders Association and Children's Miracle Day.
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Managing Director
Soundpost Capital
Prior to founding Soundpost Partners, Mr. Lester was a senior analyst at SAB Capital (assets of $1.7 billion) from May 2003 through December 2004, with a concentration in industrial, cyclical, and real estate companies. From November 2002 through May 2003 he was a partner and portfolio manager at Crossroads Partners (assets of $15 million). From February 2002 to November 2002 he was an analyst and portfolio manager at Trellus Management (assets of $400 million), specializing in healthcare services and transportation. Between 2000 and 2002, Mr. Lester attended business school and spent the interim Summer working at Perry Partners (assets of $4 billion) as an analyst for the event-driven US equity team. From 1997 to 1999, Mr. Lester worked at JL Advisors (assets of $250 million) as one of two analysts for the event-driven value fund and SAC Capital (assets of $1.3 billion) as a research analyst focusing on the technology sector. Jaime began his investment career as a summer intern at Steinhardt Partners in 1995. Mr. Lester graduated from Harvard University with an AB in Applied Mathematics and Economics (cum laude in field) and Columbia Business School with an MBA in Finance (with honors).
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Managing Director/Fund Manager
PSigma Asset Management
Prior to PSigma Asset Management (USA), James was US Investment Director for GAM, responsible for the start-up and portfolio management of the firm’s in-house strategies focused on the large cap segment of the US equity market. James joined GAM in 2001 and grew strategy assets to a peak of over $1 billion. Previously, James served as Managing Director and Portfolio Manager with responsibility for Credit Suisse Asset Management’s principal active large cap equity portfolios (Select Equity), a strategy he started, as well as the firm’s New York based global sector funds (peak assets of $5 billion). James achieved Standard & Poor’s Funds Research AAA rating at GAM and Credit Suisse Asset Management, received numerous “Category King” mutual fund mentions in the Wall Street Journal as well as multi-year “Investment Week” award nominations for the North American funds category while managing the Credit Suisse Transatlantic Fund. A Forbes article highlighted the Credit Suisse Equity Fund USA as one of the best offshore funds over a one, three and five-year period under James. Prior to joining Credit Suisse in 1995, he was a co-founder and Managing Director of Vert Independent Capital Research, the first sell-side equity research boutique utilizing an EVA (Economic Value Added)-based research methodology. Previously, he was a Manager in Price Waterhouse’s Valuation/Corporate Finance Group from 1987 through to 1993. James holds a B.S. in Accounting from Fairleigh Dickinson University and an M.B.A. in Finance from St. John’s University and currently is a Visiting Professor in the graduate program at the Zicklin School of Business, Baruch College. James is a contributing author to several John Wiley published books: Applied Equity Valuation, Focus on Value, Short Selling, and The Theory and Practice of Investment Management; his article writings have appeared in The Journal of Portfolio Management, Investment Week, FT Investment Adviser, The Wall Street Journal, Mergers & Acquisitions and other various publications; and other writings (with Professor J. Grant, Ph.D.) on the EVA (Economic Value Added) approach to security analysis have been adopted by the CFA Institute candidate study programs. James is a former member of the Editorial Advisory Board of The Journal of Portfolio Management. He is a Chartered Financial Analyst and a Certified Public Accountant, and served as a commissioned officer in the U.S. Army.
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President/CIO
DHC Capital Management
Charlie Uchill is the President and Chief Investment Officer for DHC Investment Fund LLC. Prior to founding DHC, Mr. Uchill produced double digit annual returns managing a market neutral equity derivative arbitrage portfolio for 10 years.Mr. Uchill is a market neutral trader that successfully develops proprietary models and strategies to exploit arbitrage opportunities in the equities market. Mr. Uchill profits from mispricing between related instruments while avoiding systematic risk. He conducts his own research, due diligence, analysis, and trade execution.Mr. Uchill is a graduate of the United States Military Academy. In 1995, he was specially selected to serve in the US Special Operations Command with the elite 75thRanger Regiment by then Lt. Col. Stanley McChrystal, who today is the commander of US troops in Afghanistan. He served with distinction as a platoon leader, psychological warfare officer and public affairs officer during his time with the Rangers. Mr. Uchill resides in St. Charles, Illinois with his wife and three children.
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3:00 EMERGING MARKETS
Columnist
China Economic Daily, Economy Magazine
Kun Qian is a columnist for Economy Magazine, China Economic Daily. She was vice president of JPMorgan’s Business Development group and Trade group in New York, responsible for evaluating acquisition targets, conducting due diligence for potential M&A deals, and developing business strategy and new products, etc. Prior to that, she was a career diplomat in the Ministry of Foreign Affairs of China.
Kun received her MPA degree from Harvard’s Kennedy School of Government.
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Partner
Altima Partners
Mr. Edward Ho has responsibility over the investor relations effort of Altima Partners in the Americas. He joined Altima in January 2006. Previously he was a Managing Director with Merrill Lynch in their Alternative Sales department. Before that, he was with UBS and he started his career at Bankers Trust in their Global Investment Management department. He holds BSc in Computer Science from Columbia University.
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President
International Investment Advisers
Henry M. Seggerman is the President of International Investment Advisers (“IIA”), and the Portfolio Manager of the Korea International Investment Fund, the oldest Korean offshore fund. Mr. Seggerman joined IIA in 1996, and has focused on the research and analysis of Korean equities and in the portfolio management of all IIA’s funds. He has visited over 150 companies listed on the Korean Stock Exchange, as well as numerous Korean government officials, and is well-known as a shareholder activist, involved in efforts with many companies such as Samsung Electronics, SK Telecom and Samsung Fire & Marine. Mr. Seggerman is also the Portfolio Manager of Foreign Stock Market Fund and is a seasoned investor in European and Asian countries. Mr. Seggerman is a frequent contributor to The Wall Street Journal, Barrons, FinanceAsia, the Korea Times, and other publications, has appeared on Bloomberg Television, and delivered lectures on the Korean stock market and economy at the Korea Society, of which is also a member. Mr. Seggerman holds a B.A. from the University of Michigan and an M.A. from New York University and is a Member of the Manhattan Committee on Foreign Relations.
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Partner and Director of Research
Gramercy Emerging Markets
Mr. Rauch oversees research and the corporate restructuring activities of Gramercy and chairs the Investment Committee. He has been, or is currently involved, as a leading creditor or advisor in the restructuring of numerous companies in Asia and Latin America including Accel, Alestra, Asia Pulp and Paper, Dina, Durango, Essar Steel, Iusacell, Mechala, Medefin, San Luis, Satmex, SIDEK, Synkro, and Transtel. Prior to joining Gramercy in January 2001, Mr. Rauch worked as a consultant to hedge funds managed by Van Eck Global and Farallon Capital Management, specializing in the analysis of emerging markets special situations. From 1994 to 1999, Mr. Rauch was President of The Weston Group, where he was responsible for overseeing the firm’s securities research and brokerage activities focusing on Latin America. Mr. Rauch also served as an advisor to various issuers and note holders in the restructuring of corporate debt arrangements, and was an advisor to Mexico’s VVA. In the early 1990s, Mr. Rauch worked as a Vice President with Lehman Brothers and CS First Boston in their emerging market fixed income trading groups. In the second half of the 1980s, he was a Vice President and trader with First Interstate Bank’s loan syndications group, where he was responsible for structuring and syndicating loan facilities to highly-leveraged American and Asian corporations. In 1980, he began his career with Swiss Bank Corporation in several credit and corporate finance roles. Mr. Rauch received a BA in Political Economy at Williams College and an MM in Finance and International Business at Northwestern University – Kellogg Graduate School of Management. He is a Member of the American Bankruptcy Institute and is a registered representative of FINRA (series 7, 24, 63).
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4:10 QUANTITATIVE STRATEGIES
Founder, President & CEO
Haidar Capital Management
• Haidar Capital Management, LLC (1997–Present)
• Credit Suisse First Boston (1994–1997): Director, Head of Research, Fixed Income Proprietary Trading, New York. Oversaw risk management, trading analytics development and strategy research.
• Lehman Brothers (1989–1994): Senior Vice President and Director of Quantitative Strategies Group. Responsible for quantitative research modeling involving the relative value of futures and options, traded foreign exchange carry, risk management consultant to head
of proprietary FX and metals trading business; joined Financial Products Department of Lehman as Director of Derivative Strategies and was responsible for devising pricing and hedging models for wide range of structured products, reviewing pricing methodology
used by trading desk, implementing new swap curve fitting routines to more accurately price swap-based products.
• Drexel Burnham Lambert (1986–1989): Vice President and Director of Quantitative Research in Institutional Futures and Options Division. Developed relative value futures models for bond basis, option-based approach to portfolio insurance
• Education
– Ph.D. (ABD)/Ph.D. candidate, Economics, University of Chicago
(All But Dissertation, 1986)
– MA, Economics, Harvard University (1983)
– BA, Economics with Honors, Harvard College (1983)
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Managing Director, Senior Portfolio Strategist
QFS Asset Management
QFS Asset Management (“QFS”) is an SEC-registered alternative asset management firm specializing in systematic investment strategies. Dr. Sanford J. Grossman, a distinguished economist, formed an affiliate of QFS in 1988 to develop quantitative investment models using his research discoveries. Based in Greenwich, Connecticut, QFS and its affiliates manage approximately $1.2 billion as of September 1, 2009 in absolute return assets for institutions and high net worth investors worldwide.
Theresa Patti works closely with QFS’s Chairman in monitoring and analyzing the risk and return characteristics of QFS’s investment strategies. Theresa helps design customized managed accounts for clients and also participates in the development of the firm’s investment products incorporating new strategies. Further, she is involved with QFS’s operations and accounting activities as well as internal technology projects, outlining system design and acting as liaison between end-users and technology staff.
She joined QFS in April 2001. Between 1995 and 2001, Theresa worked for Rivel Research Group in the fields of investor relations consulting, financial marketing research and computer systems design and implementation. In 1998 she was appointed as a member of Rivel's Executive Committee and was named Vice President in 2000.
Theresa earned her B.S. in Business Administration/Marketing in 1995, summa cum laude, from Southern Connecticut State University. She earned the CFA® charter in 2006.
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4:40 DEVELOPMENTS IN THE POWER PLAY BETWEEN INVESTORS AND MANAGERS IN SETTING TERMS
Partner, Financial Services Group
Katten Muchin Rosenman LLP
Henry Bregstein is a member of the Financial Services Practice, Chairman of the Structured Products Group and Co-Managing Partner of the New York office. He advises banks, domestic and offshore hedge funds, life insurance companies, investment advisers and broker-dealers on a broad range of regulatory, securities, tax, finance, licensing, general corporate and other legal matters. Mr. Bregstein is a member of the following organizations: New York State Bar Association, New York City Bar Association, NYCBA Committee on Commodities and Futures Law, and American Bar Association.
In 2009, Mr. Bregstein was featured as one of Chambers USA’s Leaders in their Field in the category of Investment Funds: Hedge Funds (National), and he was again named as a Leading Lawyer by US Legal 500 in the category of Investment Funds-Alternative/Hedge Fund Formation. Also, he was featured in the most recent edition of IFLR's Guide to the World’s Leading Investment Funds Lawyers in 2008. In fact, over the 2008–2009 period, Mr. Bregstein is one of only seven lawyers in America that has been recognized as a leader in his field by all three of these prestigious publications.
Mr. Bregstein earned his undergraduate degree (B.A., 1970) from the University of Pennsylvania and his law degree magna cum laude (J.D., 1993) from the Benjamin N. Cardozo School of Law where he was Senior Editor of the Law Review.
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Associate Director
Pacific Alternative Asset Management Company
Geoffrey Lasry, CAIA is an Associate Director of Pacific Alternative Asset Management Company (PAAMCO), a leading global independent fund of hedge funds investment firm with $9 billion under management. Geoffrey heads PAAMCO's Portable Alpha fund, chairs the Account Management Committee, and is a Director on several of the firm's onshore and offshore funds. Prior to joining PAAMCO, Geoffrey was an account manager at PIMCO, where he managed institutional client relationships with fixed-income portfolios. He began his career as a fixed-income trader at Republic National Bank of New York (now HSBC). Geoffrey has thirteen years of investment management experience, has authored select pieces on alternative investment strategies, and is a frequent guest speaker at investment conferences and business schools throughout the United States. Geoffrey graduated from New York University with a B.A. in English Literature, and received his M.B.A. in Analytical Finance from Kellogg School of Management at Northwestern University. Geoffrey also serves as a Toigo Foundation mentor, where he advises minority business school students considering careers in finance.
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CEO
Cooper Family Office
Following graduation with honors from Princeton University, Howard Cooper established an art and engineering supply business. As the business flourished in the 1980’s, he began aggressively trading equities in his spare time. After a few years he found his trading to be more exciting and more lucrative than his primary business. By the late 80’s he had become a full-time equities trader. Trading only his own assets, he worked out of his trading room everyday, eventually surrounded by computers with a constant feed of market data. A few years ago Mr. Cooper established a single-family office to manage his family assets, which were derived solely from his stock trading endeavors. The family is now primarily invested in alternative investments, including hedge funds and private equity funds, both domestic and abroad.
Recently Mr. Cooper has dedicated himself in several ways to his favorite philanthropic endeavor of supporting music and art education among underprivileged students from pre-school through college levels. He is an advisor to the Princeton University Department of Astrophysical Sciences, Chairman of the University of Florida Department of Astronomy Advisory Council, and a member of the Board of Directors of the Foundation of Florida Atlantic University, an advisor to university endowments, the Princeton University Schools Committee and several university academic advisory councils. Howard Cooper resides in Palm Beach with his wife and 4 children.
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Director of Investment Strategy
Omnivest Group
As Omnivest’s Director of Investment Strategy, Alex draws on over 13 years of investment experience to construct client portfolios, manage the firm's investment transition and implementation processes, monitor portfolio performance, and implement new investment ideas in changing investment environments.
Prior to joining Omnivest Group, Alex worked within the International Private Banking Group of Merrill Lynch for 10 years, serving as Senior Investment Strategist of the International Advisory Group in New York, and as Senior Specialist, International Equity Sales & Trading.
Alex graduated from the University of Colorado at Boulder with a bachelor's degree in business administration. He is a Chartered Alternative Investment Analyst (CAIA), a Certified Investment Manager Analyst (CIMA), and received an Investment Strategist Certificate from the Investment Managers Consulting Association (IMCA). In addition, Alex holds Series 7 and 66 securities licenses and speaks German.
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05:25 CONCLUDING TALK
Managing Member
Agecroft Partners
Don is Chairman of Agecroft Partners, a consulting and third party marketing for hedge funds. Agecroft currently has 5 hedge fund clients whose organizations average approximately $1 billion in assets under management.
Highlighting Don’s 24 years of experience in the investment management industry is having been the head of sales for both one of the world’s largest hedge fund organizations and institutional investment management firms. Don was a founding principal of Andor Capital Management, which was formed when he and a number of his associates spun out of Pequot Capital Management. At Andor he was Head of Sales, Marketing, and Client Service and was a member of the firm’s Operating Committee. When he left Andor, the firm ranked as the 2nd largest hedge fund firm in the world. Previous to Pequot, Don was a Managing Director and Head of Institutional Sales for Merrill Lynch Investment Managers. At that time Merrill ranked as the 3rd largest investment manager in the world. Don joined Merrill Lynch through the acquisition of Hotchkis and Wiley where he headed up sales and marketing. Previously, Don was Head of Institutional Sales for NationsBank (now Bank of America Capital Management). Don began his career in 1984 with The Travelers.
Don is a member of the Investment Committee for The City of Richmond Retirement System, the Lewis Ginter Botanical Gardens Endowment Fund, The Science Museum of Virginia Endowment Fund and The Richmond Sports Backers Scholarship Fund. He is also a member of the Board of Directors of The Richmond Ballet (The State Ballet of Virginia), and the University of Richmond’s Robins School of Business. Don served 2 terms as a board member of the Association of Investment Management Sales Executives.
