Connecting at the Consortium
The goal of the Consortium has always been to help plan sponsors and emerging managers connect—and a perfect “case study” of how it can work is the investment relationship between the New York City Retirement System, JPMorgan and SYNCOM Venture Partners. Here are their perspectives offered by three Plan Sponsor & Minority Manager Consortium attendees.

What’s your organization’s track record in the emerging manager arena?

Joe Haslip, Assistant Comptroller for Pensions | New York City Retirement System: “The New York City Retirement System considers itself a leader across asset classes in this space. In private equity just last year we approved a $450M allocation to four fund-of-funds that will invest in emerging managers. Those firms are Credit Suisse, Fairview, JP Morgan, and Lehman Brothers (now Neuberger Berman.) This commitment built upon a previous $175M allocation to JP Morgan and Fairview. It is important to note that in addition to our fund of fund initiative, we are quite aggressively investing direct with emerging managers. We have probably committed an additional $1.5B in this space. We also have invested in a co-investment fund, managed by Credit Suisse, which will look to invest in deals sponsored by emerging manager funds.”
 
Laureen Costa, Portfolio Manager  |  JPMorgan: 
“JPMorgan and the firm’s Private Equity Group have a long-standing track record within the emerging manager space. Our fund of funds team has invested with emerging managers since 1980—well before the strategy was mandated by many of the institutions we serve. We’ve been involved with the Consortium since its inception in 2004. We believe the event offers a tremendous opportunity to gain wider exposure to emerging manager firms and start a dialogue with those who match our clients’ investment directives.”

Terry Jones, Founder and Managing General Partner | SYNCOM Venture Partners: "“We’re a leading venture capital firm focused on early to mid-stage investments in underserved segments of the media and communications industry. We formed our first fund, Syncom I, in 1977, and from that time through the formation of our most recent and largest fund, Syncom V, our venture investment strategy has remained consistent...and resulted in the creation of many of the most successful and visible African American- and Hispanic-owned media and communications companies operating today.”

In tough economic times, attendee meetings represent an investment—what value has your organization derived by attending?

Joe Haslip | New York City Retirement System: “The Consortium affords us the opportunity to exchange views with our peer system. The information sharing is unparalleled. In no one place can we share a room with so many plan sponsors concerned about harvesting the talent of the emerging manager community. Much of what we do in New York City we owe to ideas obtained at the Consortium. Even our recently launched Public Markets Developing Manager Program for public market long only managers between $1B to $5B assets under management was refined through discussions at the Consortium.”
  
Laureen Costa | JPMorgan: “The Consortium is the best event to identify and begin fostering relationships with emerging managers. While SYNCOM was on our radar and we knew of Terry Jones and Duane McKnight, it was at the Consortium where we had an opportunity to sit down with the team prior to their fundraising and have a meaningful dialogue. That discussion sparked our interest and ultimately led to an investment on behalf of the New York City Retirement System. That type of interaction is very valuable.”
 
Terry Jones | SYNCOM Venture Partners: “The Consortium has provided an opportunity to showcase our firm’s strategy—and successes—and gain tremendous exposure. Today, everyone is overwhelmed with information, with investment reports, web info, the news. Nothing can replace a chance to connect and talk, face to face. The Consortium is the place to connect.”

Turn Back Time: Attendee Fees
In tough economic times, we know that all expenses are carefully considered and scrutinized. To ensure that as many plan sponsors, emerging managers, fund of funds, consultants and others are able to participate in the Consortium, we’re rolling back attendee fees to match our 2008 rates, including:

• $1,995 for Managers with AUM less than $50 Million
• $2,995 for Managers with AUM over $50 million
• $2,995 for all Non-Managers/Others
• Plan Sponsors Complimentary

Log on today to take advantage and complete your Consortium registration.

Timely Topics, Top Speakers
The Consortium Planning and Advisory Committees, together with the RG & Associates team, have been working hard to develop an agenda focused on timely topics and engaging speakers. Line-ups for both the daylong Consortium agenda and half-day Plan Sponsor “Only” Intensive have taken shape, with a host of leading industry professionals confirmed as panelists or session moderators. Here’s a peak (Click here for full program):

• “The New Financial Market Model” – one of the featured afternoon sessions during the Plan Sponsor-Only Intensive. Areas of discussion will include Liquidity and the Credit Markets; Governance, Compensation and Clawbacks; New Ideas on Asset Allocation; as well as Manager Selection and Monitoring. Speakers include:
  • Employees' Retirement Fund of the City of Dallas – Cheryl Alston, Executive Director (moderator)
  • GE Asset Management - James Mitchell Jr., Managing Director
  • Pension Consulting Alliance, Inc. - Allan Emkin, Managing Director
  • Teacher Retirement System of Texas – Lee Partridge, Deputy Chief Investment Officer
  • Wilshire Associates - Andrew Junkin CFA, CIMA, CAIA, Managing Director
• “From the Frontline: Top Pension Plans Share Insights & Perspectives” – First-hand perspectives from top investment professionals representing the nation’s most prominent pension plans. We’ll examine strategies and how approaches for managing risk and generating returns have shifted. We’ll look at current conditions and what’s ahead for the remainder of 2009, including market scenarios and how they will impact plan sponsors, emerging managers, fund of funds and others.
  • Credit Suisse Customized Fund Investment Group - Kelly Williams, Managing Director (moderator)
  • CALPERS - Joseph Dear, Chief Investment Officer
  • City of Chicago - Stephanie Neely, Treasurer
  • Kaiser Permanente - Bill Lee, CIO, Vice President of Pension & Investments
  • Los Angeles County Employee ‘s Retirement Association - Lisa Mazzocco, Chief Investment Officer

California Dreamin’

For the first time, the Consortium will be held on the West Coast this year. We’re pleased at the finance industry’s response to the move West. Our confirmed attendee list reflects the strong bi-coastal intersect in the event.

For a list of Consortium attendees registered to date—visit the Consortium website and select the Participants  tab.

20/20 Vision | Join the Robert Toigo Foundation 20th Anniversary Gala

Thursday, June 18th, 6:00 pm Reception | 8:00 pm Dinner Program
Dorothy Chandler Pavilion, Los Angeles

Since the start of the Consortium, the event has coincided with the Robert Toigo Foundation’s annual Gala—and we’re pleased the same is true for 2009. Celebrating 20 years as a catalyst for change within the finance industry, the Robert Toigo Foundation’s support includes work with more than 700 minority MBA students while they earn their business graduate degree, launch their finance careers and develop as business and community leaders. We encourage you to register as a table sponsor or purchase individual tickets for the Toigo Foundation Gala at www.toigogala.org or by calling (510) 763-5771, ext. 71.

LA Mayor to Welcome Consortium Gathering

We’re pleased to announce that Los Angeles Mayor Antonio Villaraigosa is confirmed to welcome all Consortium attendees at our opening night reception on June 17th. Villaraigosa, who took office in July 2005, has been a vocal advocate of infrastructure and economic investments throughout the region. His leadership vision as mayor is grounded in the premise that government can be both fiscally responsible and socially progressive. We look forward to his remarks on the importance of inclusion and diversity—issues he tackles every day in Los Angeles, one of the nation’s and the world’s most diverse urban centers.

Power in Partnership

The Consortium team extends a special thank you to our Industry & Media Partners—all of whom play an important role in helping broadcast news of the event and promote it to their constituents. We invite you to learn more about these organizations, including:

National Association of Investment Companies - the industry association for private equity firms that invest in an ethnically diverse marketplace. NAIC member companies invest in privately held businesses that have a high probability of growth and the ability to generate significant returns for investors and shareholders.

Association of Asian American Investment Managers (AAAIM) – AAAIM serves as a conduit, fostering education, collaboration and partnership between large sources of capital and the talent, experience and skills of Asian American investment professionals.

Emerging Manager Monthly - the newest product from Financial Investment News, EMM is a newsletter for emerging managers and those involved in the asset management industry.

Institute for a Competitive Inner City – founded by Harvard professor Michael Porter, ICIC promotes economic prosperity in America's inner cities through private sector engagement that leads to job, income and wealth creation for local residents.

Robert Toigo Foundation – Celebrating 20 years of changing the face of finance, Toigo supports the leadership development and career advancement of minority MBA professionals within the finance arena. Its Alumni network includes 700+ finance professionals, including many emerging manager firms and plan sponsor professionals.