| 7:00 AM – 2:00 PM |
Registration
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7:30 AM – 9:00 AM
Sponsored By:
Credit Suisse
Parish Capital Advisors |
PLENARY BREAKFAST
CIO/TREASURERS ROUNDTABLE DISCUSSION
A thought-provoking panel on the state of emerging manager programs and the different investment strategies plan institutional investors are pursuing is our starting point. With recent changes in how plans are structuring investments and reviewing managers, the dialogue will be information-rich and provide all attendees with timely insights on new directions and opportunities within the plan sponsor arena.
Welcome:
Renae Griffin, Principal – RG & Associates
Master of Ceremonies:
Kelly Williams, Managing Director - Credit Suisse Customized Fund Investment Group
Moderator:
James Mason, Managing Partner - Parish Capital Advisors, LLP
Speakers:
James Lewis, Treasurer - State of New Mexico
Janet Cowell, Treasurer - State of North Carolina
Charles Grant, Chief Investment Officer - Virginia Retirement System
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| 9:15 AM – 10:00 AM |
INDUSTRY TOPIC - TRACK 1
The Industry Track I and II are designed to engage and inform attendees on key investment issues, operating challenges and market shifts. All sessions are interactive – with an opportunity for audience members and panelists to exchange ideas and challenge current thinking.
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| Topic 1 |
The Funding Playbook: Raising Capital in a Challenging Environment
Emerging managers are operating in a new fundraising environment. We’ll examine strategies for navigating the terrain, including “going direct” and use of placement agents. Will changes in the funding arena impede the launch of new funds? What can smaller funds do to get—and stay—on plan sponsors and fund of fund managers’ radars? We’ll address these issues, and more, including how plan sponsor investment teams are responding to the changing environment and new policies and procedures they’ve put in place to ensure continued and ready-access to the best available investment partners.
Moderator:
Joyce Johnson Miller, Senior Managing Director - Relativity Capital, LLC
Speakers:
Ed Powers, Partner - BAML Capital Access Funds
Cheryl Alston, Executive Director - Employees' Retirement Fund of the City of Dallas
Tyson Pratcher, Assistant Comptroller - New York State Common Retirement Fund
Irene Marom, Senior Managing Director - Talon Eight, LLC
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| Topic 2 |
Pitch Perfect
Emerging managers, this is your opportunity to perfect your “pitch”. We’re bringing together noted consultants and third party marketers as our panel of judges. Each manager will be allotted a three-minute appearance, with judge feedback for all at the end of the session on areas such as investment strategy, operations/team approach, presentation style, content and deliver. It’s time for Simon to step aside.
Facilitator:
Ellen Cahill, President – Cahill Associates, Inc.
Judges:
Josepth Vet, Managing Director - Avec Capital
Judy Chambers, Manager Director - Pension Consulting Alliance
Sharon Morrow, Managing Director - Smith Whiley & Company
Stephen Burns, Partner – The Townsend Group
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Topic 3
Sponsored By:
Progress Investment Management Company
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The Changing Landscape: A Look at Emerging Manager Programs and What’s Ahead
With no “industry standard” on what defines an emerging manager—or emerging manager program—navigating the terrain can be challenging. We’ll hear from professionals at some of the most active programs about the structure of their emerging manager programs, funding criteria and processes, and more. The insights will provide emerging managers and consultants alike with a valuable roadmap for moving forward.
Moderator: Thurman V. White Jr., Chief Executive Officer – Progress Investment Management Company
Speakers:
Tim Legesse, Investment Officer for Diversity - California Public Employees' Retirement System
Tracy Harris, Managing Director - Parish Capital Advisors, LLP
Marc Gross, Investment Officer, Emerging Manager Program - NYC Office of the Comptroller
R. David Kelly, Board Member - Teacher Retirement System of Texas
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Topic 4
Sponsored By:
Palladium Equity Partners
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Shifting Tides: Policy-Driven Investment Strategies
Is the trend among plan sponsors (and endowments and foundations) to adopt policy-driven rather than pure asset-driven strategies the new reality? Under the new model, a policy such as sustainability could serve as the driver investment decisions and interactions among those whose sole focus was on a given asset class, such public equities, hedge, private equity, or real estate. Is the approach viable and what policies or investment platforms will be the first to emerge? What challenges and opportunities does this shift present to emerging managers – and to investment teams within the plan sponsor arena? How will the metrics be established and viewed relative to a pure asset-based approach? Join the discussion—and help shape the dialogue around this new investment mindset.
Moderator: Mike Moy, Managing Director - Pension Consulting Alliance
Speakers:
Elizabeth Allison Tulach, Senior Director, Alternatives – Boeing Company
Solange Fernandez Brooks, Portfolio Manager, Investment Executive Unit- California State Teachers’ Retirement System
Michelle Davidson, Managing Director – PCG Asset Management
Luis Zaldivar, Principal – Palladium Equity Partners
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| 10:15 AM – 11:00 AM |
INDUSTRY TOPICS - TRACK II
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Topic 5
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The Funding Playbook: Tapping Non-Traditional Business Opportunities and Sources of Capital
In our Funding Playback “round two” we’ll look beyond traditional public plan sponsor programs and examine non-traditional sources of funding for emerging managers including seed funds, angel or family foundations, corporate partnerships, and grants. We’ll also examine how many plan sponsors are creating early seed funds as a way to forge relationships with funds just as they are forming. For emerging managers, these alternative sources of capital are opportunities worth pursuing and are oftentimes tied to specific objectives, such as support of women-owned ventures or investments in urban or under-served markets. Learning how to identify, track and pursue the opportunities is our objective.
Moderator:
Juan Lopez, Former Investment Officer for Emerging Managers –Illinois State Teachers' Retirement System
Speakers:
Dave McDermott, Assistant Director, Acquisition Services Franchise and Asset Management, Division of Resolutions and Receiverships – FDIC
Carla Harris, Managing Director of the Strategic Client Group and the head of the Emerging Managers Platform - Morgan Stanley
Kristi Craig, Senior Investment Officer - US Small Business Administration (SBIC)
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Topic 6
Sponsored By:
Centinela Capital Partners & Paul Capital Partners |
EMERGING MANAGER INITIATIVES : How Legislative Policies Are Shaping Funding Decisions
With the mix of legislation and policy decisions in play today, understanding and tracking how these factors impact funding and investment decisions at the federal, state and municipal level is a critical. Our panelists will explore different policies in place that directly impact minority- and women-owned firms, and how some policy shifts may create unforeseen opportunities or obstacles for emerging managers.
Moderator:
Robert Taylor, Founding Partner– Centinela Capital Partners, LLC
Speakers:
Dr. Louis Moret, Board Member - California Public Employees’ Retirement System
Michael Warren, Trustee - District of Columbia Retirement Board
Jeanna Cullins, Principal - Ennis Knupp
Kenyatta Matheny, Investment Officer Emerging Managers – Illinois State Teachers Retirement System
James Francis, CEO – Paradigm Asset Management
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| Topic 7 |
Under Wraps No More: An In-Depth Look At Foundation & Endowment Investment Strategies
Understanding the investment strategies of foundations and endowments is the first step an emerging manager needs to take in order to determine how their investment approach can add value—or not. With an end goal of generating returns while minimizing risk exposure as a “truism” among plan sponsors, endowments and foundations, each pursues different paths and considers different issues along the way. With foundations and endowments, for example, a mission-focused strategy may be a driving factor. Understanding the investment strategy differences and how they impact emerging managers will be the focus of the Under Wraps No More discussion.
Moderator:
Susan Carter, President, Commonfund Capital, Inc.
Speakers:
Kim Lew, Director of Investments, Carnegie Corporation of New York
Jarvis Hollingsworth, Chairman - University of Houston System Endowment Committee
Wale' Adeosun, CFA - Chesapeake Asset Management
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Topic 8
Sponsored By:
Morgan Creek Capital &
Century Bridge Capital |
The World is Your Oyster—So What’s Your Global Game Plan?
The investment opportunities beyond U.S. boarders are immense. From emerging markets (including India, Africa, BRIC, Latin America and beyond) to more established investment areas throughout Europe, we’ll explore the wide-open world of global investing from both an emerging manager and plan sponsor perspective. How can emerging managers based offshore and in the US best deliver on global opportunities? With new regulatory changes allowing non US-based funds to invest with firms outside their boarders, what strategies should emerging managers consider to position themselves as viable investment partners? Our discussion will focus on new possibilities and strategies for capitalizing on opportunities moving forward.
Moderator:
David A. York, CEO & Managing Director - Paul Capital Investments, LLC
Speakers:
Brad Briner, Managing Director - Morgan Creek Capital Management, LLC
Lawrence Penn, Managing Director - Camelot Group
Bryan Lewis, Director of Operations - Department of the North Carolina State Treasurer
Jeffery K. Tucker, Managing Director - Century Bridge Capital
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| 11:00 AM – 11:30 AM |
Networking Break
Sponsored by:
Robinson Bradshaw & Hinson, HSBC and Edwards Angell Palmer & Dodge
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| 11:30 AM – 12:30 PM |
INDUSTRY SECTOR BREAKOUTS
Mid-morning breakout sessions will focus on four investment sectors—and each will provide attendees an opportunity to address current market conditions, issues at play, and what the coming months may hold.
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Session 1
Sponsored By:
ICV Partners &
Invesco Private Capital |
Private Equity / Venture Capital
The shifts within the PE and VC arena over the past 12- to 24-months have been remarkable. Some firms have shifted focus into debt financing, others have recommitted to their original “roots”, while still others have closed. Some say the days of the mega-fund are gone, as smaller, more focused funds have emerged and are garnering LP interest. Add to the mix the constant flux (some say frustration) between funds and their limited partners. We’ll discuss the current environment, and likely directions for the remainder of the year.
Moderator: Amit Tiwari, Principal - Invesco Private Capital
Speakers:
Willie Woods, President & Managing Director, ICV Partners
John Alouf, Head of Private Equity - Virginia Retirement System
Charles Willis, Portfolio Manager - JPMorgan Asset Management
Marcos Rodriguez, Managing Director – Palladium Equity Partners
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Session 2
Sponsored By:
Mar Vista Investment Partners & Profit Investment Management
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Public Equities / Fixed Income
What a rally. With the return of public equity markets, investor perspective and interest has been renewed. We’ll take a look at how public plans are responding to the market shifts, and how allocations for the remainder of the year may be shifting (or not) based on performance metrics of other sectors.
Moderator:
Silas Meyers, CFA, Co-Founder - Mar Vista Investment Partners
Speakers:
Eugene Profit, CEO - Profit Investment Management
Bryan Lewis, Director of Operations - Department of the North Carolina State Treasurer
David E. Ourlicht, Commissioner - New York State Insurance Fund
José P. Balagot, Deputy Chief Investment Officer - Progress Investment Management Company
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| Session 3 |
Hedge Fund
The headlines had been dire: Outflow of capital defined the sector in 2009, and more hedge funds liquidated than launched in 2009, according to Hedge Fund Research. But 2010 is looking robust from an investment and returns perspective within the hedge sector. Our team will examine fund of funds, “pure” funds, LP sentiment in the sector and more. Our goals is to offer insights into how investors are viewing the sector, the players and the potential pitfalls.
Moderator:
Jerry Bias, Board Member – University of Virginia Investment Management Company; Senior Partner and Head of Trading – Cyrus Capital Partners
Speakers:
Dwanye Louis, Vice President - Investcorp LLC
Brian Russell, Investment Officer - California Public Employees' Retirement System
Ray Joseph, Acting Chief Investment Officer - New Jersey Division of Investment
Dr. Siddarth Sudhir, CFA - The Rock Creek Group
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| Session 4 |
Real Estate
Debt, debt, debt appears to be the new mantra of the sector—with some investors capitalizing on the opportunities and some finding the market unbearable. The panel of real estate investment pros will examine where the opportunities are, which firms are best positioned and what’s likely to unfold on the horizon.
Moderator:
Leslie Hale, CFO & Senior Vice President - RLJ Development, LLC
Speakers:
Laurie Weir, Portfolio Manager, CURE Program - California Public Employees' Retirement System
Scott Hamner, Director -, Credit Suisse Customized Fund Investment Group
David Kelly, Board Member - Teacher Retirement System of Texas
Vicky Schiff, Managing Director - Oro Capital Advisors
Yvonne Nelson, Executive Director for for Real Estate and Economically Targeted Investments (ETIs), Real Estate - Office of the NYC Comptroller
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12:30 PM – 2:00 PM
Sponsored by:
Syncom Venture Partners |
POWER NETWORKING LUNCHEON
CIO/TREASURERS ROUNDTABLE DISCUSSION
Building on our breakfast “opener” with top treasurers and CIOs, we’ll continue the discussion with a new team of leaders for dynamic conversation focused on investment realities and risks. Insights into how major funds view the current market, specific sectors and how new policies may be shaping their future moves will be the focus.
Master of Ceremonies: Terry L. Jones, Founder & Managing General Partner – Syncom Venture Partners
Guest Speaker:
Eric Eve, First Deputy Director- City of New York
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| 2:00 PM – 2:30 PM |
DESSERT NETWORKING BREAK
Sponsored by:
Investcorp
Mercer
Morgan Stanley
Relativity Capital, LLC
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2:30 PM – 4:30 PM
Sponsored by:
JP Morgan
Smith Whiley & Co.
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VIP CONNECT
Bringing together Value, Information and Partnership, our closing session (originally known as “Speed Networking”) puts plan sponsors, minority and emerging managers and others face-to-face in productive, introductory meetings. Participants will benefit from first-hand perspectives from the nation’s key and most active pension fund, endowment, and foundation investors in small group session format that fosters candid discussions and exchange.
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| 4:30 PM |
CONCLUSION |
