MARCH 21, 2013 | 10 ON THE PARK | NEW YORK
Absolute Return SPRING SYMPOSIUM 2013
New York’s premier hedge fund event The Absolute Return Symposium will consider the outlook for the hedge fund industry and financial markets, and examine specific opportunities, challenges and risks across a range of alternative strategies.
KEYNOTE SPEAKERS: ANDREW REDLEAF, Whitebox Advisors and
KEY TOPICS
BOAZ WEINSTEIN, Saba Capital Management
MACRO: Where do you find certainty in an uncertain world? CREDIT: How do you plan for the bond unwind? INVESTORS: Recalibrating their approach to the industry REGULATION: Rising to the challenges of transatlantic oversight MANAGING A HEDGE FUND: What the new breed of COOs need to know EMERGING MARKETS: What happens when you become mainstream?
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BOOK ONLINE at www.absolutereturnsymposium.com or call +1 212 224 3570
Why attend
Absolute Return Spring Symposium
We are delighted to send you the latest brochure for the Absolute Return Spring Symposium which will be held in New York on Thursday March 21, 2013. Bringing together more than 350 hedge fund managers, investors and industry professionals, the Absolute Return Symposium will address the key challenges facing the U.S. hedge fund industry and the outlook for both U.S. and global financial markets. The one-day conference will open with a keynote address by Andrew Redleaf, founder and chief investment officer at Whitebox Advisors. Andrew has more than 30 years of experience trading in convertible securities and other optionality-driven markets. He is an original founder of Deephaven Market Neutral Fund. There will also be a variety of sessions focusing on specific opportunities, challenges and risks across a range of alternative strategies. Panelists will include the hedge fund industry’s most successful managers and investors. KEY TOPICS INCLUDE: • The outlook for the U.S. housing market and mortgage-backed securities
Andrew Redleaf will open the 2013 Symposium with his keynote address
• What do investors want from hedge funds and are they getting it? • What does the globalization of the industry mean for COOs? • Currencies, commodities and unorthodox monetary policy • What will be the impact of China this year and next? • What is the outlook for emerging market equities and bonds? The final session will see a number of talented fund managers make a case for one of the top investments in their portfolios. Firms already confirmed include Grandmaster Capital, Forest Hill Capital and Pura Vida Investments. There will also be plenty of networking opportunities throughout the day, including a drinks reception at the end of the conference which all delegates are welcome to attend. We look forward to seeing you in New York The Absolute Return Symposium team
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Subscribers to Absolute Return, EuroHedge, AsiaHedge, InvestHedge or Absolute UCITS will receive 15% off the standard rates.
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We are now taking bookings for this event. To register: Call: (U.S.) +1 212 224 3570 (U.K.) +44 (0) 20 7779 7222 Email: events@hedgefundintelligence.com Online: www.absolutereturnsymposium.com Absolute Return Symposium 2013 | March 21, 2013 | 10 on the Park | New York
Attendees More than 350 delegates registered to attend the Absolute Return Symposium in November 2012. Below is a selection of the companies who registered. We expect a similar number of delegates for our Spring conference, and a list will be released approximately two weeks before the event. 400 Capital Management 401K Retirement Partners 5:15 Capital Acceleration Capital Group Accretive Capital Partners Ader Investment Management ADM Investor Services Diversified Strategies Fund AF Advisors Alden Global Capital Allenbridge Investment Solutions Alternative Investment Group Alternative Investment Management APG Asset Management Apis Capital Advisors Appomattox Advisory Archstone Partnerships Aria Capital Management Armour Group Holdings Limited Barlow Partners Barnegat Fund Management Basso Capital Management Bay Lane Capital Beachhead Capital Management Bernstein Global Wealth Management Bessemer Trust Bleecker Street Capital BlueMountain Capital Management Boardman Bay Capital Management Boothbay Management Bowery Investment Management Brevan Howard Credit Catalysts Briarwood Capital Management Bridgewater Associates Bronson Family Office (Fairhills Group) BTG Pactual Asset Management Campbell & Co Candlewood Investment Group Capricorn Investment Group Carleon Capital Partners Cerberus Capital Management Chichester Capital Management Cisneros Family Office Clemens Square Cliffwater Cobia Capital Management Commonfund Constellation Associates Contrarian Capital Management Cooper Family Office Copia Capital Covepoint Capital Advisors CQS (US) Credit Suisse Asset Management Crystal Mountain Group
CT Partners Doshi Capital Partners Drobny Asset Management Dunbar Capital Advisors Eagle Peak Asset Management Ecofin Limited Elmwood Capital Encompass Capital Advisors Entrust Capital Espalier Global Management Eton Park Capital Management Fairfax County Retirement Systems Federal Reserve Bank of New York Fidelity Family Office Financial Recovery Technologies Firebird Management Fordham University Freestone Capital Management FRM Fulcrum Asset Management Gabelli Gatemore Capital General Atlantic Gladstein Family Investors Glazer Capital Glickman Family Office Global Secured Capital Goldentree Asset Management Goldstein Capital Corp Granite Associates Green River Asset Management H&K Strategies Hauslein & Company, Inc Hayman Capital Management Heard Capital Heitman Henderson Global Investors HighTower Advisors Hildene Capital Management Hillview Capital Advisors Houston Firefighters’ Relief & Retirement Fund HSBC Global Banking and Markets, Institutional Private Client Group HSBC Private Bank Incline Global Interlaken Management International Asset Management Kensai Asset Management Kier Global King Street Capital Management Lean6Financial Levitt Family Office LGT Capital Partners AG Lighthouse Investment Partners
Other 3% Hedge funds 48%
Consultants 6%
Funds of funds & investors 20%
Linden Advisors Liongate Capital Management Lone Peak Partners Maglan Capital Marathon Asset Management Mariner Investment Group Market Street Trust Company Masters Capital Management MB Family Advisors Mesirow Financial Metacapital Management Miura Global MKP Capital Management Morgan Stanley AIP Mudrick Capital Management Mulvaney Capital Management New York City Retirement Systems New York Federal Reserve North Star Advisors Nova Scotia Teachers pension Ocean Road Advisors Omnivest Group Onex Credit Partners Ontario Teacher’s Pension Plan Orpheus PAAMCO Paladin Capital Group Park Ave Capital Management Parkview Wealth Management Paulson & Co Pension Fund Evaluations Perry Capital Petschek Family Office Pfizer Inc Pine River Capital Management Pitcairn Platinum Credit Management Portage Advisors Pulse Capital Partners Pyramis Global Advisors QuantZ Capital Management Quintal & Co. Financial Services Inc RBC Alternative Asset Management Rion Capital Schonfeld Group Schultz Asset Management Schwager Capital Partners LLC Scopus Asset Management Seven Global Ltd Sibilla Capital Sierra Global Management Silver Lake Credit Fund SIO Capital Management Skylar Capital Management
Service providers 23%
Soroban Capital Partners SpiderRock EXS Spring Mountain Capital State of Rhode Island Steadfast Financial Stelliam Investment Management Stonewater Capital Structured Portfolio Management Swiss Reinsurance Company Systematic Asset Management T5 Capital Management Table Mountain Capital Taylor Woods Capital Management Telluride Asset Management Ten Capital Tenth Avenue Holdings The Accord Family Office The Altman Foundation The Canadian Medical Protective Association The Goldman Family Foundation The Jordan Family Office The Koffler Group The Pennsylvania State University The ReThink Group Inc The Whitman Foundation TIAA-CREF Tiedemann Trust Company Time Equities Topwater Capital Partners Towers Watson TPG-Axon Capital Treesdale Partners Triogem Asset Management Troika Dialog USA Turtle Creek Investment Advisors U.S Securities and Exchange Commission UBS UBS Alternative & Quantitative Investments UJA-Federation of New York UNC Management Company UNConsulting UOB Global Capital LLC V V Strategic Group Van Dyke Holdings Velocity Capital VelocityShares LLC Veritable Investment Consultants Vermillion Asset Management West Face Capital Inc Whitebox Advisors William Harris Investors Wolfson Family Office Wolverine Asset Management Yankee Advisors
www.absolutereturnsymposium.com
Program 08.00
Doors open, registration and breakfast
08.30
Welcoming remarks: Christopher Garnett, director, HedgeFund Intelligence Conferences and Euromoney Conferences
08.40
Keynote address and Q&A: Andrew Redleaf, founder and chief executive officer, Whitebox Advisors
09.10
Macro: Where do you find certainty in an uncertain world?
09.55
Credit: How do you plan for the bond unwind?
10.40 -
Andrew Redleaf has more than 30 years of experience trading in convertible securities and other optionality-driven markets. Before founding Whitebox, Andrew was a founding partner of Deephaven Asset Management and managed the Deephaven Market Neutral Fund from 1994 through 1998. Introduced by » Neil Sherman, managing director, investment banking, Credit Suisse
• Uncertainty, deleveraging, imbalances and government policy • Currencies, commodities and unorthodox monetary policy • The German election, European banking union and the debt crisis: The final countdown? • Japan: A ticking time bomb? Speakers: » Renee Haugerud, founder, chief investment officer and managing principal, Galtere » Tomas Jelf, chief economist, Prologue Capital » Cameron Small, managing director, Citi » Ashwin Vasan, founder and chief investment officer, Trend Capital Management Moderator » Josh Friedlander, editor, Absolute Return
• How to navigate the end of the great bull run in bonds • The best trades in sovereign debt • How to avoid crowding out in corporate credit • The outlook for the U.S. housing market and mortgage-backed securities Speakers: » Steven Kuhn, partner and head of fixed income trading, Pine River Capital Management » Derek Smith, managing principal and senior portfolio manager, BlueMountain Capital Management » Scott Stelzer, senior managing director, head of CMBS securities and trading, Cerberus Capital Management » Joseph Stewart, managing director, head of cross asset and hedge fund sales, Americas, UBS » David Warren, CEO, DW Investment Management and manager, Brevan Howard Credit Catalysts Master Fund Moderator » Mark Johnson, editor, Euromoney Conferences
10.40
Coffee break (Tower East West room)
11.05
Keynote interview with Boaz Weinstein, founder and chief investment officer, Saba Capital Management
11.35
Investor panel: Recalibrating their approach to the industry
Interviewed by Rob Copeland, staff writer, Absolute Return Boaz Weinstein founded Saba in 2009 as a lift-out of the Deutsche Bank proprietary credit trading group he started in 1998. As of February 2013, the firm manages $5.3bn, including approximately $500m in its tail hedge strategy. Previously, Boaz worked at Deutsche Bank for 11 years, the last eight as managing director (a title he received at age 27). In 2008, Boaz was promoted to co-head of global credit trading, overseeing 650 investment professionals.
• What do investors want from hedge funds – and are they getting it? Is performance good enough – and at the right price? • What is the impact of more end-investors going direct and cutting out the funds of funds? • Are consultants the new gatekeepers with the most power – and how are they using it to advise investors? • Where do the current trends leave traditional hedge fund investors like family offices and private bank clients? Speakers: » Seema Hingorani, head of public equities and hedge funds, Bureau of Asset Management, NYC Office of the Comptroller » David Katz, president and chief operating officer, Larch Lane » Ryan Randall, senior investment officer, Fairfax County Retirement Systems » Nicole Solomon, portfolio manager and director of investments, Ocean Road Advisors » Maria Tapia, partner, Alternative Investment Group Moderator » Andrew Lapkin, president, HedgeMark International Absolute Return/HedgeFund Intelligence reserve the right to amend the program and is not responsible for cancellations due to unforeseen circumstances. Absolute Return/HedgeFund Intelligence accepts no responsibility for statements made orally or in written material distributed by any of its speakers at its conferences. In addition, Absolute Return/ HedgeFund Intelligence is not responsible for any copying, republication or redistribution of such statements.
Absolute Return Symposium 2013 | March 21, 2013 | 10 on the Park | New York
12.25
Regulation: Rising to the challenges of transatlantic oversight (Columbus room)
While hedge funds in the U.S. have been grappling with implementation of domestic rule changes following Dodd-Frank, there has also been a slew of regulatory change in the works in Europe – including the Alternative Investment Fund Managers (AIFM) Directive and UCITS IV. A panel from a group of leading firms discuss what the industry needs to do in order to keep up with the new rules on both sides of the Atlantic. Speakers: » Christopher Hilditch, partner, Schulte Roth & Zabel » David Keily, general counsel and chief compliance officer, Visium Asset Management » Simon Lorne, vice chairman and chief legal officer, Millennium Management » Emma Rodriguez-Ayala, assistant general counsel, Mesirow Financial Moderator » Marina Lewin, head of global business development, BNY Mellon Alternative Investment Services
WORKSHOP A: Hosted by VelocityCapital: Profiting in a low volatility environment (Hudson room)
• Volatility: What happened in 2012 • VIX-onomics: How to structure your portfolio • Concepts for profiting in a low volatility environment Speakers » Scott Weiner, head of quantitative strategy, VelocityCapital
13.10
Lunch and networking
14.00
Managing a hedge fund: What the new breed of COOs need to know (Columbus room)
• How is the role of a COO changing? • Adapting to the new world of more onerous investor and/or regulatory requirements • What does the ‘globalisation’ of the industry mean for COOs? Speakers: » Jonathan Bloom, chief operating officer, Eagle River Asset Management » James Canales, chief operating officer, StoneWater Capital » Michael Carter, chief operating officer, Magnetar Capital » Andrew Rabinowitz, partner and chief operating officer, Marathon Asset Management Moderator » Neil Wilson, managing editor, HedgeFund Intelligence
WORKSHOP B: Hosted by Cerberus: Alpha Generation in CMBS (Hudson room)
• Importance of collateral/credit research in uncovering different risk/return profiles • Value of a long/short strategy • Market dynamics: new issue, fundamental trends, and market technicals • Common misconceptions in CMBS collateral and capital structure Speakers » Scott Stelzer, senior managing director, head of CMBS Securities and trding, Cerberus Capital Management
14.50
Emerging markets: What happens when you become mainstream?
• The outlook for emerging market equities and bonds • The outlook in key emerging market regions and economies – including Brazil, Russia, India and China • The impact of global macro headwinds, and a possible slowdown in global growth Speakers: » Peter Getsinger, managing partner and chief investment officer, Nexstar Capital Partners » Robert Koenigsberger, founder and chief investment officer, Gramercy Advisors » Chris Osborne, chief executive officer, Sberbank CIB USA » Xiao Song, portfolio manager, emerging markets, Contrarian Capital Management Moderator » Christopher Garnett, director, HedgeFund Intelligence Conferences and Euromoney Conferences
15.35
Coffee break (Tower East West room)
16.00
Commodities: If it’s not about China then what is it about?
• What is the outlook for energy, metals, softs and agriculturals in light of renewed stimulus? • What will be the impact of China this year and next? • Where are the best opportunities now the so-called super cycle is at an end? Speakers: » Jean-Marc Bonnefous, founding partner and principal, Tellurian Capital » Paul Crone, founder and chief investment officer, Citrine Capital Management » Adam Dunsby, partner, SummerHaven Investment Management » Mark Rzepczynski, chief executive officer funds group, FourWinds Capital Management Moderator » Richard Ryan, capital introductions, Newedge USA
16.45
Best ideas: Four managers and a crystal ball
Four talented fund managers will each make a case for one of the top investments in their portfolios and share their invaluable investment insights with Symposium attendees. Speakers: » Worth Gibson, chief operating officer, Forest Hill Capital » Efrem Kamen, founder and managing member, Pura Vida Investments » Jeffrey Meyers, founder, Cobia Capital Management » Patrick Wolff, founder and managing member, Grandmaster Capital Moderator » Josh Friedlander, editor, Absolute Return
17.45-19.00
Cocktails www.absolutereturnsymposium.com
Speakers The Absolute Return Symposium is renowned for its top-level speakers and panelists. More than 45 leading industry figures will participate on panels. Speakers confirmed so far include: Renée Haugerud, Galtere Ltd Renee Haugerud is the founder, chief investment officer and managing principal of Galtere Ltd. Throughout her 30-year career, Renee has acquired expertise trading all asset classes, through posts in the U.S., Canada, the U.K., Switzerland, Australia, and Hong Kong. She began her career trading cash commodities in the United States and Canada for Cargill Inc. and Continental Grain. At Cargill, she held global management roles on foreign exchange, fixed income, and commodities trading desks, finally returning to the U.S. as vice president/structural trading manager at Cargill’s corporate headquarters.
Efrem Kamen, Pura Vida Investments Efrem J. Kamen founded Pura Vida Investments in 2012 and is its managing member. From 2011 to 2012, Efrem was portfolio manager at Waterfront Capital, a Millennium affiliated fund, where he led an expansion initiative to add a healthcare business and was responsible for managing the healthcare portfolio. From 2007 to 2011, he was an analyst at Diamondback Capital, responsible for medical device, diagnostic, and life science investments. From 2008 to 2010, Efrem served as a director of Neovasc, a publicly traded cardiovascular device company.
Robert S. Koenigsberger, Gramercy Robert Koenigsberger is founder, chief investment officer and the managing partner of Gramercy. Robert has over 24 years of investment experience dedicated to emerging markets with a specialization in fixed income securities and founded Gramercy in 1998. Robert serves as portfolio manager for Gramercy Argentina Opportunity Fund and co-portfolio manager for Gramercy Emerging Markets Fund and Gramercy Distressed Opportunity Fund. Most recently, in 2009/2010, he led Gramercy’s efforts in conceiving, organizing and facilitating the successful restructuring of Argentina’s defaulted debt – the first private sector led restructuring of a sovereign default.
Steve Kuhn, Pine River Capital Management Steve Kuhn is partner and head of fixed income trading at Pine River Capital Management. Steve is the lead portfolio manager for the Pine River Fixed Income Fund and co-portfolio manager for the Pine River Liquid Mortgage Fund. Pine River is a $9.5bn global asset management firm providing solutions to qualified clients across three actively managed platforms: hedge funds, separate accounts and listed investment vehicles.
Speakers include:
Mark Rzepczynski, FourWinds Capital Mark Rzepczynski is the chief executive officer of the funds group for FourWinds Capital Management, where he oversees alternative investments in commodity markets globally. He also heads the funds group investment committee and serves as the director on a number of FourWinds CM funds. Previously, Mark was the managing partner of Lakewood Partners LLC, a global macro hedge fund focusing on disciplined and systematic investing in foreign exchange, interest rates, and commodities through the application of structured decisions.
Patrick Wolff, Grandmaster Capital Patrick Wolff is the founder and managing member of Grandmaster Capital. His business career started in 1997 at Mercer Management Consulting where he worked as a strategy consultant. From Mercer, Patrick went to Silicon Valley where he worked at two internet startup companies. In 2001, Patrick went to Capital One where he worked for four years in marketing and M&A roles. Patrick joined Clarium Capital Management in 2005 and served as a managing director and as a member of the firm’s investment committee.
Visit www.absolutereturnsymposium.com for an updated list of speakers
Absolute Return Symposium 2013 | March 21, 2013 | 10 on the Park | New York
Absolute Return
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