In Good Company

Here’s a look at the ConsortiumWEST audience profile. An intimate gathering with high touch points!

Institutional Investor
Manager
Fund of Funds
Consultant
Other

71
73
33
15
9


ConsortiumWEST 2014

We closed out 2014 with ConsortiumWEST, we ring in 2015 with ConsortiumEAST.

Save these dates!

June 10 – 11, 2015 | Conrad New York

ConsortiumEAST 2015

ConsortiumWEST Highlights

A move to the West Coast for a two-day focus on connecting investors and emerging managers brought together 200+ for productive discussions and networking. More than 65% of attendees were first-time Consortium attendees, including a mix of municipal pension plans, family office and foundation/endowment CIOs. Sector breakouts proved engaging and productive; VIP Connect one-on-ones offered attendees with facilitated meeting times to meet, connect and spark ongoing dialogue.

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Additional key highlights include

The Intensive | Institutional Investor-Only Forum

More than 40 institutional investors gathered for the Intensive, kicked-off by Renae Griffin with an overview of the EM Central survey findings and analysis of emerging manager initiatives. A summary of the findings is available in the EM Central thought leadership white paper. Following the survey insights, attendees benefitted from a dynamic panel discussion on Debunking Myths & Mitigating Risk followed by peer table discussions.

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The Bootcamp | GP Forum

The two-hour manager-focused session set the stage for future conversations with a focus on the need to foster closer GP and LP relationships. Micolyn Magee, Principal – The Townsend Group and panelists Aren Leekong, Managing Director – Highbridge Principal Strategies, LLC; Laureen Costa, Portfolio Manager – JPMorgan Asset Management; and Javier Saade – Associate Administrator – U.S. Small Business Administration provided relevant and timely insights into today’s funding environment—and practical solutions for raising capital. Small capital allocations, alternative sources of funding and interactions between LPs and GPs topped the agenda.

Saade provided insights on the dynamic between GPs and LPs and a move to foster more flexible relationships as a way of addressing today’s small fund funding gaps. Strong ROI and IRR performance, as well as job creation, are all key and necessary components of the emerging manager story. Costa provided insights regarding partnership investments with early liquidity and the “chicken and egg issue:” How can you have a track record and liquidity event without assets under management? Alternative and vertical sources of funding, including SBA loans and early LP traction with family offices, foundations and endowments may be part of the solution. The session closed with hour-long coaching sessions on key topics newly launched funds are facing, from messaging and LP-ready pitch decks to operational issues, compliance, reporting and communications.

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Emerging Manager BEACON AWARD

Honoring James Lewis, Treasurer, State of New Mexico

RG + Associates and ConsortiumWEST honored New Mexico State Treasurer James Lewis for his 38 year commitment in setting and meeting the highest standards of public service, recognizing the importance of working with emerging managers, and serving as a mentor and role model to colleagues nationwide.

“There’s no way you can do it.” Undeterred, that’s the message Treasurer Lewis heard when he first decided to run for state treasurer. With focus and a relentless determination to serve, Lewis persevered.

In his award acceptance remarks, Lewis encouraged the audience to “Be bold. Stand up. Decide that [you are] going to do what’s right. It’s not about I; it’s not about me. It’s about we and us. It’s about all of us participating in this process.

“As you ask yourself: How can I get an opportunity? Why is the door shut? Is this world going to change? Will the environment change. You have to decide what it means to you, your organization, this environment, noted Lewis.

“I will continue to work on these issues—inclusiveness, participation of entities that have not participated at the table. It’s only fair. It’s the right thing to do. If you see something wrong, you need to step out and speak up. Apathy and complacency won’t get things done. Someone else asking for you won’t do. You need to reverse the crab syndrome—you need to reach down and pull up.”

In closing, Lewis noted: “This is a complex issue. You can have all the programs in the world—but that doesn’t change the mindset. You have to have follow through and follow up. You have to make the decision to make it work. It’s up to each of us.”

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State Treasurer John Chiang Delivers Personal Perspectives

ConsortiumWEST welcomed John Chiang, former California Controller to the stage for inspiring, personal insights. Chiang shared perspectives on his parents, his early aspiration to become a civil rights lawyer and his American story. “We need a society where all kids—regardless of faith, orientation or heritage. In America, we’re all the same. We’re brothers, we’re sisters in this humanity. That’s what this gathering, ConsosrtiumWEST, is all about.”

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General Sessions: Timely Insights, Actionable Advice

A key differentiator between ConsortiumWEST and other emerging manager-focused gatherings is the combination of education and relationship building opportunities available to all attendees. The general sessions were on point, offering both GPs and institutional investors in the audience with insights regarding emerging manager program perspectives by asset class, including PE/VC, hedge, real estate and public equities.

STATE OF THE MARKET: Emerging Manager Investment Initiatives Today panelist Meredith Jones, Consultant and Author from MJ Alternative Investment Research provided telling insights into women-run funds in the PE and VC space and performance differences (advantages) relative to male colleagues. While the number of women-owned and run firms remains small, the data supports a performance difference. “Access to different deals” is one of the key points of difference. Jones and her colleagues including Thurman White, President & Chief Executive Officer, Progress Investment Management Company, LLC (public equity); Roxanne Martino, Partner, Chief Executive Officer and Investment Committee Chair, Aurora Investment Management L.L.C. (hedge); Jennifer Young, Principal, The Townsend Group (real estate); and moderator Tina Byles Williams, Chief Executive Officer, Chief investment Officer, The FIS Group provided valuable insights by sector re: state of the market. Select presentation slides can be found on the ConsortiumWEST app.

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CIO SPOTLIGHT: Present Your Case panelists delivered insights into their funding environment and decision-making process. The foundation and endowment world has, perhaps, seeded more managers than the public pension arena. The big difference is the decision making process—we make the decision with a big policy structure; trustees have delegated final authority to the foundation investment team. We’re able to move fairly quickly. A lot of our colleagues do the same thing,” noted James Williams, Vice President, Chief Investment Officer and Treasurer of The J. Paul Getty Trust. Facilitator Derek Jones, Managing Director, GCM Grosvenor Private Markets and additional panelists Linc Walworth, Director Investment, California State Automobile Association; Rodney June, Chief Investment Officer, Los Angeles City Employees’ Retirement System and Jerry Albright, Deputy Chief Investment Officer, Texas Teachers’ Retirement System reinforced the need for GPs to hone their message: How I can help you compete. How I can deliver performance.

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What’s Ahead for 2015

Keep the momentum going—join us for ConsortiumEAST and ConsortiumWEST in 2015:
enVision + inVest.

REGISTRATION LIVE

ConsortiumEAST
June 10 – 11, 2015
Conrad, New York

ConsortiumWEST
December 1 – 2, 2015
SLS Hotel, Los Angeles


VISION

Explore what’s possible when LPs and GPs connect.

VALIDATE

Share and compare metrics that matter.

VALUE

Capitalize on the value emerging managers deliver.

VICTORY

Realize returns when diverse approaches and perspectives are at the table.