Alternative Investments Summit - November 15-16, 2004 - Puck Building, New York

LAST UPDATED: Thursday, December 28 2006
  Monday, November 15, 2004

08:15 REGISTRATION BEGINS AND CONTINENTAL BREAKFAST

09:00 INTRODUCTORY REMARKS BY INFORMATION MANAGEMENT NETWORK

09:05 CHAIRPERSONS’ OPENING REMARKS

09:20 KEYNOTE PRESENTATION: THE EVER CHANGING WORLD OF HEDGE FUNDS

The hedge fund industry continues to evolve as the influx of institutional investors encourages change, and poses challenges to investors and hedge funds alike. The nature of the industry’s evolution over the last 10 years – and its implications – are discussed, including:
  • Institutionalization and globalization of hedge funds
  • Capacity: the supply/demand imbalance
  • Regulatory outlook
  • The role of hedge funds in a portfolio and related implementation issues

Joel Katzman, President and Chief Executive Officer,
JP MORGAN ALTERNATIVE ASSET MANAGEMENT, INC.

09:50 PANEL DISCUSSION — CHALLENGES INVESTORS OF HEDGE FUNDS FACE
  • Will more regulation provide the desired results of investors?
  • Question of capacity
  • How do you work through the numerous hedge fund strategy types?
Moderator:
George Lucaci, Managing Director, Capital Markets Group, HEDGEFUND.NET

Panelists:
David Katz, Partner and Co-founder, ROCATON INVESTMENT ADVISORS, LLC.
Andrew M. Silton, Consultant, STATE TREASURER OF NORTH CAROLINA

10:35 THE NEW WORLD OF PRIVATE EQUITY INVESTING

This session will address what lies ahead for the private equity markets. As the dust settles is now the time to look at private equity? What opportunities are available and how will returns fair in regards to other asset classes?

Les Brun, Chairman and Co-founder, HAMILTON LANE

11:00 Refreshment Break

11:15 ASSET ALLOCATION VERSUS MANAGER SELECTION

Panelists\ will discuss how disagreements about the importance of asset allocation policy stem from differences in what is considered important. They will explore the ability of asset allocation policy to explain variability across time, variation in returns across funds and the average level of return.

Session Leader:
Stephen L. Nesbitt, Chief Executive Officer, CLIFFWATER, LLC

Panelists:
Ezra Zask, Vice President and Director, IBBOTSON ASSOCIATES
Michael Dubin, Partner, POWERS & DUBIN ASSET ALLOCATION AND MANAGEMENT CO.

12:30 Luncheon for Delegates and Speakers

LUNCHEON KEYNOTE ADDRESS:
David M. Silk, Managing Director, Sales, BEAR STEARNS ASSET MANAGEMENT &
Former NY Ranger & Olympic Ice Hockey Gold medalist
David Silk, a former professional athlete in the National Hockey League with the New York Rangers, will present a riveting presentation about his experience being a member of the 1980 US Olympic Ice Hockey Team. His teamís story about how they took home the gold metal inspired the recent blockbuster movie “Miracle on Ice”. Presently, Mr. Silk is with Bear Stearns Asset Management (BSAM) and is responsible for developing the Taft-Hartley and public funds markets.† Prior to joining BSAM, he was with Loomis Sayles Inc., and Korn/Ferry International and Putman Investments. He has an MBA in Finance from Boston University, a Bachelor of Arts from Boston University and has served as an Adjunct Professor at Boston University.

01:45 HEDGE FUND MANAGERS’ ROUNDTABLE: FUNDS OF FUNDS VERSUS HEDGE FUNDS

As some hedge funds explode and some hedge funds excel, how do plan sponsors institution investors sort through the proliferation of managers and firms? This session will not only focus on how to choose the appropriate type of hedge fund and the appropriate manager. Panelist/s will also debate fund-of-funds, transparency, and risk return issues. Special focus will be given to the hedge fund conundrum: Tulip Mania, Ephemeral Trend or Paradigm Shift?

Session Leader:
Peter Gerlings, Senior Partner, NEPC

Panelists:
Michael Mikytuck, Managing Director, PLUSFUNDS
Jacob Navon, Partner, WESTWOOD PARTNERS LLC
Gregory P. Heyman, Managing Director, RHOMBUS CAPITAL MANAGEMENT, LP
Gus Catsavis, President, Focus Capital Management, LLC

02:40 GOALS BEHIND YOUR PRIVATE EQUITY INVESTMENTS

Speakers will discuss the market trends and strategies for structuring a private equity portfolio, types of investment vehicles, manager selection and hot industries and sectors.

Moderator:
David Clinton, Esq., Former Deputy Commissioner, NEW YORK CITY FIRE DEPARTMENT and Former Chairman, NEW YORK FIRE PENSION FUND

Panelists:
Bradley T. Atkins, CFA, Chief Executive Officer, FRANKLIN PARK ASSOCIATES, LLC
Stephen J. Kelly, Managing Director, Private Equity Partners, MERRILL LYNCH INVESTMENT MANAGERS
John W. Shearburn, Vice President, Private Equity Group, GOLDMAN SACHS ASSET MANAGEMENT

03:30 Refreshment Break

03:45 THE INSTITUTIONALIZATION OF FUND OF FUNDS VS. THE EMERGENCE OF BOUTIQUES

Moderator:
Bob Stearns, Managing Director of Alternative Investments, ADAIR CAPITAL

Panelists:
William L. Green, Chief Investment Officer, FEDERAL STREET PARTNERS, LLC
Elizabeth R. Hilpman, Partner, BARLOW PARTNERS
Mark Jurish, Founder, LARCH LANE ADVISORS, LLC
Bruce Ruehl, Chief Investment Officer, GLEACHER FUND ADVISORS

04:45 Sessions Conclude

05:15 Cocktail Reception

LAST UPDATED: Thursday, December 28 2006
  Tuesday, November 16, 2004

08:00 CONTINENTAL BREAKFAST

08:30 CHAIRPERSON'S REMARKS

08:40 THE HEDGE FUND BUBBLE

Barry Cohen, Director of Alternative Investments, BEAR STEARNS

09:00 NEW INVESTMENT OPPORTUNITIES IN ALTERNATIVE INVESTMENTS: STRUCTURED CREDIT
- Why structured credit?
- CDO Equity's complementarity with Private Equity
- Correlation aspects

Shiv Wallia, Vice President, JPMORGAN SECURITIES, LLC

09:30 PRIVATE EQUITY SECURITIZATION FROM A RATINGS AGENCY'S PERSPECTIVE

Alfredo de Diego Arozamena, Director, STANDARD & POOR’S

09:50 PANEL DISCUSSION – A LOOK AT THE CURRENT WORLD OF REAL ESTATE INVESTING
  • New money flowing in despite returns not being what they used to be
  • What first time real estate investors should know
  • Understanding the various real estate products

    Moderator:
    Stephen J. Burns, Jr., Principal, THE TOWNSEND GROUP

    Panelists:
    Peter Palandjian, Chief Executive Officer and Chairman, INTERCONTINENTAL REAL ESTATE CORP.
    Gerald Brown, Chairman, DALLAS POLICE & FIREFIGHTERS’ RETIREMENT SYSTEM

    10:40 MUCH TO GAIN FROM MANAGED FUTURES
    • How commodities have become the golden child for portfolio diversification
    • Dissecting the various parts
    • Road map to committing to commodities
    • Ongoing measurements of risk and return


    Session Leader:
    Jack O’Dea, Chief Executive Officer and Founder, STRATEGIC WORLDWIDE, LLC

    Panelists:
    Ernest L. Jaffarian, Founder, President & Chief Operating Officer, EFFICIENT CAPITAL MANAGEMENT, LLC
    Max G. Ansbacher, President, ANSBACHER INVESTMENT MANAGEMENT
    Thomas Twomey, Senior Director of Marketing, NEW YORK MERCANTILE EXCHANGE
    Richard A. DeFalco, Founder and Managing Director, WEST COOPER ASSET MANAGEMENT GROUP, LLC

    11:40 THE ADDED VALUE FROM FOREIGN CURRENCY OVERLAY MANAGEMENT

    Moderator:
    Pauline Lam, Senior Research Analyst, QED INTERNATIONAL ASSOCIATES, INC.

    Panelists:
    Alfred G. Bisset, President, Chief Executive Officer and Founder, AG BISSET & COMPANY, INC.
    Raymond J. Sweeney, Vice President Sales and Marketing Investment Management, FX CONCEPTS, INC.

    12:20 ACHIEVING A SOUND VALUATION PROCESS AND BENCHMARKING
    • Performance evaluation
    • Examining how much illiquidity you can handle for the right return
    • Being prepared with knowledge of the drawbacks from existing tools


    Raj Gupta, Research Director, Center for International Securities and Derivatives Market, THE UNIVERSITY OF MASSACHUSETTS

    12:45 Conference Wrap Up

    01:00 Conference Concludes


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