Conference Agenda
Tuesday, June 24, 2008
7:45 AM - 8:25 AM
Registration and Continental Breakfast
8:25 AM - 8:30 AM
Opening Remarks
8:30 AM - 9:30 AM
To Redeem or Not to Redeem: Investor War Stories
- Gate and Lock-ups - Striking a balance that serve the interests of funds and investors
- Halting redemptions - When does it make sense from a hedge fund and investor perspective - discussion of specific case studies
- Hedge fund documentation and structure process - how to plan an exit
- Examples of smooth redemptions and horror stories
- Don't be PIK'd - Strategies to manage and avoid extreme events e.g. "Paid in Kind" redemptions
- Trends in documentation and hedge fund structures
- Do Hybrid fund structures address redemption concerns or introduce new issues that need to be contemplated
Moderator:
Gregory Zuckerman
Special Writer
Wall Street Journal
Panelists:
Sonny Saksena
Managing Director
Finles
Ken Stemme
CIO
Larch Lane
Riva Waller
Head of Investment Structures Group, Product Structuring & Finance
MAN Investments
9:30 AM - 10:30 AM
Credit Opportunities in 2008
- Discussion of credit crunch - Is the worst behind us? what inning are we in?
- Credit opportunities in deleveraged environment
- What is the opportunity in the MBS market now?
- Who is left standing and what did they do right?
- Challenges and opportunities in Asset Backed Lending strategies
- How managers are changing fund structure to deal with future counterparty issues.
Don Brownstein
CEO
Structured Portfolio Management, LLC
David Ellis
Managing Director
Global Investment Advisors
Neil Nag
Senior Analyst
Asset Alliance
10:30 AM - 10:50 AM
Refreshment Break
10:50 AM - 11:50 AM
Activism Opportunities in 2008
- State of the Strategy
- Specific activist case studies - how do the managers execute their strategies
- Impact of the credit crisis on activist funds, investors and targets
- Prospects for regulatory change and impact of market intermediaries including proxy firms and regulatory agencies
- Investor reaction, openness and patience with activist strategies
- Target Selection: How do Activists pick their targets and how has management response changed as strategy goes mainstream
- Review of activism partnership models with other activists and traditional passive investors
- Prospects for activism in 2008/2009
Moderator:
Ron Orol
Senior Writer
The Deal
Author, "Extreme Value Hedging"
Panelists:
Arnaud Ajdler
Managing Director
Crescendo Partners
Phillip Goldstein
Principal and Co-founder
Bulldog Investors
Jared L. Landaw
Managing Director and General Counsel
Barington Capital Group LP
11:50 AM - 12:15 PM
Rapid-fire manager presentations (5 managers)
12:15 PM - 1:15 PM
Lunch
1:15 PM - 2:15 PM
Due Diligence - Counter-party Risk
- Key steps in operational due diligence process - what do operational due diligence teams look for and key questions for Counterparty Risk factors
- Identifying major sources of risk with key counterparties
- Trends and issues in negotiating collateral, margin and stock loan arrangements
- How to manage risk in "Zero Tolerance"environment
- Changes in 2008 from 2007 - new procedures or following existing procedures
- Review of documentation - ISDA, contracts, DDQs
- Tell-tale signs of counterparty deterioration
- Securing financing arrangements and multiple prime brokerage arrangements
- Trends and issues in negotiating collateral, margin and stock loan arrangements
- First hand look at counterparty negotiation - how have deals evolved and factors in negotiation.
Peter Fell
Vice President
Kenmar
Scott Wolfel
Principal
Gregoire Capital LLC
Sam Won
Managing Director
Brencourt Advisors LLC
2:15 PM - 3:15 PM
Emerging Markets - Opportunities in Emerging and Frontier Markets
- What are the trading themes in 2008? Hear specific examples of how managers are playing those themes
- Decoupling - myth or reality? Learn from the experts
- How have Emerging Markets and Frontier Markets been affected by credit crisis?
- Managing risk and opportunity remotely vs. on the ground presence - discussion of merits of both models
- What are the key risk factors? How do managers protect against these risk factors?
- What are the markets to watch and strategies to participate in those markets?
Bruce Fenton
Managing Director
Atlantic Financial Inc.
Alison Graham
CIO
Voltan Capital Management, LLC
Hans Hume
President
Greylock Capital Management
Petek Kutucuoglu
Head of Research
Global Equities Management (GEM)
Rob Rahbari
Managing Director
RAS Capital
3:15 PM - 4:00 PM
Investor Reverse Roundtable (Saybrook Room, 18th Floor) & Refreshment Break
4:00 PM - 4:45 PM
Opportunities in Environmental Finance and Green Trading
- What is a green hedge fund and what do they trade?
- Are Water and Carbon the next Gold? Opportunities along the green market value change
- Solar, ethanol, biofuels, geothermal - separating opportunity from hype
- Generating value and avoiding hype in Green investing
- Carbon legislation - opportunities in Cap and Trade
- Trading themes in the cleantech space - discussion of specific investment ideas
Moderator:
Peter Fusaro
CEO
Global Change Associates
Panelists:
Mark Cox
Managing Director
New Energy Finance
Hillary Kramer
President and Managing Partner
GreenTech Research LLC
Gerry Sweeney
Vice President and Senior Analyst
Aqua Terra Asset Management