Tuesday

March 21, 2017

  March 21, 2017

By Ainslie ChandlerFranklin Templeton's is looking for long-short credit hedge funds as well K2 Advisorsas discretionary macro managers with a focus on emerging markets, according to managing director .Charmaine Chin

The global firm, which invests in hedge funds, is focusing on managers in these areas that can handle greater volatility and sector dispersion this year, Chin said during an event last month in New York. She said the firm is also seeking managers who can make money on the long side of credit and also when going short duration.

"We haven't really seen fixed-income markets embrace that inflation theme the way the equity markets have. The fixed-income markets are in wait-and-see mode," Chin said. "There has definitely been higher dispersion among sectors and geographies in emerging markets, whether that's Latin America or other geographies." As such, K2 sees emerging markets as an area of opportunity in the near-to-medium term, she added.

K2 Seeks Long-Short Credit, EM Managers This Year

Robert Christian, K2's head of investment research, said the firm is looking for discretionary global macro managers at the expense of systematic global macro managers. "There was a clear change in market structure on Nov. 8 after the [U.S. presidential] election," he said. "A lot of the Trump news has been played out in the equity and credit markets, not so much in the global macro."

The firm also sees opportunities for activists across industries — a space it is invested in — due to changing policies under the Trump administration, according to K2 CEO and founder , who foresees more hedge fund closures this year.David Saunders

"It's harder to start a hedge fund today," Saunders said during the event. "We are seeing a much higher bar set by the regulatory environment. We're seeing a minimum number of around $500 million."

The firm typically hires 10 to 15 fund managers a year for its fund of hedge fund and liquid alternatives strategies, making initial investments of $5 million, with a view to building to at least $50 million over time, according to Chin. K2 makes day-one and early investments in firms and does not have constraints on the length of a manager's track record, she said March 6 via email. The firm doesn't seed funds, she added.

Its due diligence takes three to six months on average, according to Chin, depending on the complexity of the strategy and operations.

K2, which oversees more than $10 billion in assets, has $4.2 billion in liquid alternatives, including in '40 Act funds, UCITS and the institutional business globally.

Number of the Week

Capital by in two raised Element weeks after reopening its macro fund.

$2 Billion

Zimmer Partners gained in February, while saw Passport losses: Returns

As 2017 marks 's 20th year, Aspect says the firm is making Martin Lueck

money in equities and is building up positions in base metals: Spotlight

More hedge funds closed in 2016 than in any year since the financial crisis: Research Roundup

Blackstone is shutting its Groupdistressed-debt fund in favor of lockups: Milestones

is said to be eyeing Steve Cohenways to automate money manager decisions: Fund News  

Mirante Fund Management is short U.S. Steel stocks: Market Calls

Inside

Leon Cooperman ordered to trial in the SEC's insider-trading case.

"FX hedge funds predominantly started 2017 long the dollar, but the trade became too crowded and failed to produce returns. ... Meanwhile, macro funds globally embraced the Trump stocks rally and held global equities."— Matthew Feldmann, a consultant for family

offices and ex-portfolio manager at Brevan

Howard and Citadel. Read on the web.more

What to Read

Quote of the Week

Returns in Brief

Demand for Long-Short Credit Fell

Note: Includes opportunistic investors looking for multiple strategies  

  Hedge Funds 2  March 21, 2017

 

 

Returns in Brief

Funds in the charts not mentioned in the accompanying text on this page were reported in other issues of the Brief or in Bloomberg News stories. For questions, email mkarsh@bloomberg.net.  

Zimmer Partners, the $3.4 billion energy-focused firm, gained 2.6 percent in February in its largest hedge fund, according to a person with knowledge of the matter. The $2.1 billion ZP Utility fund, which mainly invests in the equities of energy-related utility and infrastructure companies, is up 7.4 percent so far this year, the person said. The firm’s $1.1 billion ZP Energy Fund returned 2 percent last month, bringing gains for the year to 6.5 percent, the person said. The long-biased fund focuses on midstream energy companies and has some exposure to downstream stocks. The firm's chief executive officer, Stuart

manages both funds. A Zimmer, spokeswoman for the New York-based firm declined to comment.

— Hema Parmar

The main hedge fund at Passport , run by , fell 4.3 Capital John Burbank

percent in February, bringing losses for the year to 6.7 percent, according to an investor document seen by Bloomberg News. The equity-focused Passport Global Strategy Fund lost 17.6 percent last year. The firm’s Long-Short Strategy Fund, which also trades stocks, fell 1.7 in February bringing losses for the first two months of the year to 2.1 percent, the document said. Steve Bruce, an external spokesman for the San Francisco-based firm, declined to comment. Passport, which had $2.4 billion in assets as of the end of February, was founded by Burbank in 2000.

— Hema Parmar

 

 

February Returns

Year-to-Date Returns Through February

*Returns through March 9**Returns through March 3

  Hedge Funds 3  March 21, 2017

  

Spotlight

  Hedge Funds 4  March 21, 2017

Spotlight

Aspect Positioned for Opportunities in Equities, Base Metals, Says Lueck

Fund is making money in equities, building up positions in base metals.

Chinese futures markets in glass, PVC, coal, look "interesting."

Interviewed by Melissa Karsh on March 8. Comments have been edited and condensed for clarity.

Martin Lueck, co-founder and research director, Aspect Capital

 Q: How's Aspect changed in 20 years?A: Aspect Diversified is our longest-running program, which has 80 percent in trend-following components and then the remaining 20 percent of its risk is

—allocated to a range of other factors for example relative value or commodity modulations. In November 2014, we launched the Aspect Core Diversified Programme, which is a derivative of the

flagship product, to meet the growingdemand for high-capacity risk mitigation momentum programs.

We launched an absolute return program last year, which is still in seed trading and there aren't investors in that yet. We have a range of lift-out strategies where we have brought in external teams that we can leverage on our infrastructure and there we've acquired three different teams. The first is a shorter-term relative value program that has recently attracted client investment and has been trading for over two years within Aspect. Last year, we acquired a systematic global macro program and with their superset of models — FX and fixed income — they also offer FX only programs and FX overlay. Finally, we have a market-neutral cash equity program in seed trading at the moment.

Q: Why are you expanding now?A: Clients are a bit clearer now about what they want. We have some people that are looking for specific utility in the program and to diversify either their equity exposure, or in the current environment, their fixed-income exposure. So we have solutions to help them with that. Of course, you overlay on that fee sensitivity. In an era of much higher regulatory and due diligence scrutiny, my sense is that an investor would prefer to have a relationship with a manager they know and trust and have built a relationship with for a range of solutions. So, having five relationships and three products from each of those relationships is much better

 

use of investor time than having 15 individual relationships.

The final observation is that it's opportunistic. So, if we turned the clock back 20 years, the three teams we have acquired would have been setting up on their own. When we started Aspect in 1997, we had $40 million of seed capital and that was a big startup. These days, to have enough people and infrastructure to satisfy institutional investors, let alone the regulators, you're talking $500 million or the better part of $1 billion to get critical mass. As of the end of February, we have just over $6 billion in assets and a healthy pipeline of investments that have been committed, but not yet funded. Last year was something of a disappointment. We were in negative territory, but we're up about 1 percent year-to-date through February.

Q:  What's your take on fees?There's a geographical and a sectoral A:

component. For instance, with the public pension schemes in the U.S. or in Australia, there is a total anathema to paying incentive fees so they are looking for products where there is a fixed fee.

Q: In what geographies/sectors do they prefer the incentive to the fixed?

Some European, some Middle A: Eastern clients, fund of funds and high net worth. I'm not trying to make a global generalization, but we have clients in those segments that tend to be more inclined to consider incentive fees in exchange for lower fixed fees.

Q: How is the fund positioned?Right now, the opportunities and A:

where we are making money is principally out of equities. The program has significant long exposure in equity markets. Since we have an entirely systematic approach, this takes into account not just how we design and infer the positions we want to hold, but also how we risk-limit the program. It's not as though we just keep buying into a rising equity market. Our equity exposure has been capped at the program's risk limits since the end of last year. We're also seeing some interesting positions building up in base metals. In other sectors, generally, it's unclear trends.

We had an extended period of secular falling interest rates and rising bond markets, but that looks a bit like it may have run its course. What the program is telling us now is it's got very small positions. In fact, we're globally just a little bit net short on fixed income.

Q: Where else do you invest globally?A: At the moment, it's not possible for non-Chinese investors to access Chinese futures markets, but we've been researching those markets in the anticipation of that eventuality. There are some interesting futures markets in mainland China where you have exposure you can't get to outside of China. For example, glass futures, PVC or coking coal. We started a joint venture in China last year, so we are beginning to offer our programs for domestic Chinese investors traded in their domestic market.

At a Glance

Career: Co-founded London-based Aspect Capital in 1997 and before that AHL; NFA board member; investor and adviser to various start upsEducation: MA in Physics, Christ Church, Oxford; Chair of Oxford Physics Development BoardInvestment philosophy: Diversified, systematic, persistentFamily: Wife, Nancy, runs Barefoot Books, a multi-cultural children’s book publisher; four terrific children — 24, 23, 21, 20

  Hedge Funds 5  March 21, 2017

    

    

Milestones

  Hedge Funds 6  March 21, 2017

Milestones

  

By Hema Parmar and Katherine BurtonElement Capital Management, the firm run by , raised $2 billion in two Jeffrey Talpinsweeks as investors show growing interest in macro hedge funds.

The new money brings the firm’s assets under management to $12 billion, according to a person with knowledge of the matter. Element reopened its macro fund to investors on March 1 and turned away additional requests after reaching its target by March 15.

Most of the commitments came from existing clients, said the person. Element had been closed to new cash since last April, when it gathered $1.5 billion in one month. Shawn Pattison, a spokesman for the New York-based firm, declined to comment.

Element, which has fewer than 40 investors, is among the more sought-after hedge funds. Last year it gained 19.4 percent, making it one of the world’s best-performing macro funds, and in 2015 it rose almost 23 percent. Since its 2005 inception, the fund has returned an annualized 21 percent, the person said.

Macro funds got net inflows of $1.1 billion in January after redemptions of almost $10 billion last year, according to data tracker eVestment. Global macro topped a list of the most attractive strategies for investors in a recent Credit Suisse survey. And 27 percent of hedge fund investors polled by Deutsche Bank said they plan to add to their macro allocations in 2017. “The political road ahead appears equally, if not more, uncertain as policy makers globally diverge in their approach to spur economic growth,” the bank said in its report.

Even so, macro managers as a group have underwhelmed in 2017. They returned 0.4 percent through February, according to Hedge Fund Research Inc., while the average hedge fund rose 2.2 percent.

By Sabrina Willmer, Melissa Mittelman and Sridhar NatarajanBlackstone Group LP is ending its $3 billion distressed-debt hedge fund and will shift most of the assets into other credit funds that lock up client capital.

The firm said it’s offered investors in its GSO Special Situations Fund the option to move assets into other distressed credit pools that don’t feature withdrawals. The special situations team, led by Blackstone partner , will continue to oversee Jason Newthe investments.

“We have decided to transition the investment activities of our hedge fund into our other distressed funds with longer-duration, drawdown structures,” spokeswoman Paula Chirhart said. “These funds better complement our competitive strengths and style of investing and will allow us to generate better risk-adjusted returns for our investors.”

Blackstone’s decision is reflective of hedge funds’ desire to shield themselves from quarterly redemptions. Blackstone’s special situations fund suffered losses in 2015, largely led by its exposure to coal and energy, and bounced back with a rebound in credit markets last year, two people with knowledge of the matter said. A gauge for the distressed-bond market gained 54 percent last year, after recording losses of 38 percent and 20 percent the previous two years. The majority of investors in the Blackstone special situations fund have expressed a desire to keep their money within the firm’s credit business, called GSO Capital Partners, people with knowledge of the matter said.

Blackstone declined to comment on investor decisions and the fund’s holdings.The special situations hedge fund was started in 2005 and has generated an

annualized return after fees of about 6.5 percent, Chirhart said. That compares with a 17 percent net annualized return in GSO’s 2007 mezzanine credit fund and 13 percent in that strategy’s 2011 pool, both of which are drawdown vehicles without a redemption option. GSO’s 2009 and 2013 rescue lending funds, which also don’t feature withdrawals, were returning 11 percent and 18 percent, respectively, as of Dec. 31.

Talpins's Element Said to Raise $2 Billion in 2 Weeks

Blackstone to Shut Distressed-Debt Fund

A mob of trend-followers is eroding the advantage that quantitative analysis usually provides to short-term equity trading strategies more quickly than normal, according to Bank of America research. The researchers pointed to managed futures, which have grown to represent about 10 percent of the hedge fund universe with more than $250 billion assets under management, according to BarclayHedge. At the heart of the issue is a phenomenon where a once-reliable strategy is destroyed when enough traders discover its potency. Bank of America contends that this is occurring more frequently as new technology and data make get-rich-quick algorithms easier to build. The bank’s quant clients use three times as many pieces of predictive code than they did 20 years ago. However, with more math whizzes digging for more factors, the decaying of alpha means quant investors are bound to see quickly evaporating returns, they said. Still, the researchers note that reliable quant strategies pay off over a longer time horizon.

— Dani Burger

More hedge funds closed in 2016 than in any year since the financial crisis. Liquidations totaled 1,057 last year, the most since 2008, according to data released Friday by Hedge Fund Research Inc. Though assets managed by the industry rose slightly to $3.02 trillion during 2016, at the end of the year there were 9,893 funds managing that cash, including funds of hedge funds — the fewest since 2012. Only 19 percent of hedge funds managed more than $1 billion at the end of 2016. They controlled 91 percent of the industry’s cash, a small increase from last year. Firms with more than $5 billion oversaw almost 70 percent of the industry’s assets. This shift is leaving emerging managers behind. In another post-crisis record, fewer funds started in 2016 — 729 — than at any point since 2008. In 2015, 968 funds started.

— Simone Foxman

Research Roundup

Fund News

  Hedge Funds 7  March 21, 2017

Fund News

 

 

By Saijel KishanSteven A. Cohen got rich by going with his gut on big trades. Now the billionaire trader is experimenting with another path: automating the decisions of his best money managers.

Cohen’s , which oversees his $11 billion fortune, is Point72 Asset Managementparsing troves of data from its portfolio managers and testing models that mimic their trades, according to people familiar with the matter.

The wave of automation that’s sweeping finance, initially relegated to taking over mundane tasks, is starting to encroach the ranks of prized money managers who are among the industry’s highest paid. Cohen is pursuing this effort after producing his second-worst year as a trader and as he prepares to return to the hedge fund industry at a time of intense investor pressure on fees.

Unabashed in his view that the industry is short of talent, Cohen has ramped up the project over the past year or so, said the people. Using analyst recommendations as an input, the effort involves examining the DNA of trades: the size of positions; the level of risk and leverage; and whether an investment was hedged, said one of the people. It also entails looking at the timing of trades, assessing pricing and liquidity in the market, and the duration over which managers build positions.

The model will identify patterns and relationships based on those analytics and seek to replicate bets, the people said. Point72 is also experimenting with automating the work of its execution traders.

Machines will never get the big paychecks Cohen has doled out. At his former hedge fund, SAC Capital Advisors, portfolio managers earned about 15 percent to 25 percent of profits they generated. Top performers took home as much as 30 percent — which routinely translated into eight-figure payouts annually. Last year, Cohen changed the bonus structure with Point72 managers earning as much as 25 percent but only on the money they make above a market benchmark, or so-called alpha.

SAC had a quant group that sought to amplify the firm’s profits by using algorithms that replicated the trades of its best-performing managers. The model used leverage to help boost profits and managers were able to take a cut of the money made. Billionaire Paul Tudor Jones introduced a similar process last year at his hedge fund. He told investors in August he would use a chief investment officer tool to replicate trades of his best managers and planned to scale up the process over a period of six months.

Mark Herr, a spokesman for Stamford, Connecticut-based Point72, declined to comment on the automation project.

Cohen Said to Eye Ways to Automate Decisions

From the Minutes

Oklahoma Police Pension and Retirement System renewed contracts with its investment managers for another year, according to Steven K. Snyder, executive director and chief investment officer of the $2.3 billion pension. The board renewed the contracts during the March 15 meeting, an showed, as Oklahoma law doesn't agendaallow for a contract to exceed one year, Snyder said via email on March 20. Contracts with Grosvenor, Pacific Alternative Asset Management Co., Wellington Trust Co. and MLM Macro — Peak Partners LP were among those that were renewed. As of Feb. 28, the pension had about 8 percent of its portfolio allocated to absolute return strategies, including about $126 million with Paamco and about $60 million with Wellington, and a 14 percent allocation to long-short equity, or about $327 million, with Grosvenor, according to the latest monthly investment . returns

— Melissa Karsh and Ainslie Chandler

Strategic Value Partners hired from Banco Bilbao David Roca

Vizcaya Argentaria SA in London, according to people familiar with the matter.

Roca will join in May and focus on building the $5 billion firm’s relationships with commercial banks and managers of collateralized loan obligations, said one of the people. He was most recently BBVA’s global head of loan sales.

An external spokesman for Greenwich, Connecticut-based SVP declined to comment on the hire. The hedge fund is run by Victor Khosla. A BBVA spokeswoman didn’t respond to emailed requests for comment.

— Alastair Marsh

GIC Pte is hiring Fanesca Youngfrom asset management firm Los

to oversee its Angeles Capitalquantitative stock group as Singapore's sovereign wealth fund continues to build out its team for computer-driven investments.

Young, who was in charge of quantitative research for Los Angeles Capital before leaving the Los Angeles-based firm, will join the fund in June, according to a person with knowledge of the matter.

A GIC spokeswoman declined to comment.

GIC, which has used quantitative strategies for years, in early 2016 combined those activities in a group headed by former Goldman Sachs Group Inc. executive director Percy Wong.

GIC hired Michael Recce, who was chief data scientist at Point72 Asset Management, in October to fill a similar position.

— Sabrina Willmer and Klaus Wille

On the Move

Strategic Value Partners Said to Hire BBVA's Roca

GIC Said to Hire Young to Head Quant Stock Team

Market Calls

  Hedge Funds 8  March 21, 2017

 

Market Calls

Mirante Fund Management is short United States Steel Corp. and AK Steel Holding Corp., according to fund manager .Alexis Dawance

“These two stocks are incorporating a lot of good news,” Dawance said in a telephone interview on March 15. “Historically, they have been trading at much, much lower valuations. The current price levels are implying much higher steel prices and much lower tax rates.”

United States Steel traded at $37.10 and AK Steel traded at $8.27 as of the close of March 20.

Erin M. DiPietro, a spokeswoman for United States Steel, declined to comment beyond statements in the company's fourth quarter and full-year 2016 earnings presentation, dated Jan. 31, citing the firm's policy of not commenting on stock price. Lisa Jester, a spokeswoman for AK Steel, declined to comment.  

The steel companies would also find it difficult to get pricing power as there is 30 percent idle capacity, Dawance said. The “very strong” U.S. dollar is making Chinese steel imports even more attractive, he said.

Mirante is cautious on the U.S. overall. “The S&P earnings are still below the September 2014 peak, while the index is 18 percent higher,” Dawance said. “This bull market is aging and has reached 92 months of expansion.”

Wall Street is pricing in a Trump stimulus that may not come to fruition, he said. “The $20 trillion ‘debt ceiling trap’ could be difficult to pass as Democrats might use it as a negotiating tool and as many factions among the Republican Party today might oppose such a deficit increase,” he said. “This political turmoil

Mirante Shorts U.S. Steel Stocks  

  

Market Calls, Revisited

By Hema ParmarLast March, , CIO of , said aircraft leasing Hugo Roque Casa de Investimentoscompany AerCap and media company Viacom were "cheap value stocks with great potential." At the time, Roque said AerCap was trading below book value, and that air traffic had growth prospects of 5 percent a year until 2020. Viacom’s ability to generate cash flow and the potential effects of an inevitable restructuring were being underpriced, he said in the interview published on March 15, 2016.

Since then, Dublin-based AerCap, which is listed on the New York Stock Exchange, rose 22.9 percent and New York-based Viacom is up 10.4 percent. This compares with a gain of 15.4 percent in the New York Stock Exchange Composite Index in that time.

Roque said he’s still bullish on both stocks. AerCap continues to have "good future prospects and is still cheap with a P/E of 8," and Viacom has "immense international growth opportunities and is the lowest priced company in its undervalued sector," he said via email on March 15, 2017. Braga, Portugal-based Casa de Investimentos manages about 100 million euros ($106 million).

could result in a gridlock the markets don't see coming. This could prevent tax reform and infrastructure and defense spending that have excited so many investors.”

The MFM Global Thematic L/S UCITS Fund returned 0.9 percent in its dollar I

share class in February, bringing year-to-date gains to 2.6 percent, according to a performance report seen by Bloomberg News. The $62 million fund returned 21 percent last year. The firm manages $1.3 billion overall.

— Darshini Shah and Nishant Kumar

 

Click on the chart for a live version or run on the Bloomberg Terminal. G #HF.BRIEF 80

  Hedge Funds 9  March 21, 2017

   

 

Activist Situations

  Hedge Funds 10  March 21, 2017

 

 

 

Bloomberg Briefs: Hedge Funds

Activist Situations

Compiled by Melissa KarshSignificant actions at companies targeted by activist hedge funds.

Arconic Inc., the jet- and auto-parts maker embroiled in a proxy fight with

, waived a Elliott Management Corp.deal requiring shareholder Oak Hill Capital Management to vote with it at its upcoming annual meeting after the activist investor challenged the pact, the company said in a statement on March 20. Elliott, which owns 13.2 percent of Arconic, called for a broader probe. Read

on the Terminal.more

Blackhawk Network Holdings Inc. agreed to add two new independent directors to its board in a deal — announced on March 20 — with activist investor , which disclosed Jana Partnersa new 4.7 percent stake in the prepaid-payment network. Read on the more

.Terminal

Elliott Management Corp. is urging Dutch paint maker Akzo Nobel NV to talk with suitor PPG Industries Inc. about raising its rejected $22 billion takeover bid, Bloomberg News reported March 17, citing people familiar with the matter. Akzo has been pitching shareholders on a plan to divest its specialty chemicals business, a move backed by Elliott, which holds a stake below the 3 percent threshold required for disclosure of holdings in Amsterdam, said one of the people. Read on the Terminal.more

Bill Ackman failed in a bid to divide Allergan Inc. investors who claim they got fleeced when he accumulated a stake in the botox-maker based on inside knowledge that a suitor would make an unsolicited bid for the company. A judge on March 15 allowed the shareholders' case to proceed as a class action. Read

on the Terminal.more

said ValueAct Capital Management March 16 that it added another 3 million shares to its existing stake in Valeant Pharmaceuticals International Inc. The purchase was made just a day after Bill Ackman’s Pershing Square Capital Management said it had shed its stake and took about $4 billion in losses. With the purchase, ValueAct — which holds a seat on Valeant’s board — owns 5.2 percent of Valeant’s shares. Read moreon the Terminal.

21st Century Fox Inc., which is weighing options to help thwart a potential takeover of Tribune Media Co. by Sinclair Broadcast Group Inc., is deliberating over possible choices after having been approached by several parties that are interested in acquiring Tribune directly or as part of a consortium, Bloomberg News reported March 17, citing people familiar with the situation. One of the parties that has talked with Fox is Starboard Value

LP, which owned a 4.4 percent stake in Tribune as of March 15. Read on more

the web.

Four Chipotle Mexican Grill Inc. directors will be stepping down this year, the burrito chain said in a regulatory filing March 17, following a shake-up supported by His Bill Ackman. Pershing

disclosed Square Capital Management a stake of about 10 percent in Chipotle last year. The changes are expected to give Ackman greater say at the Mexican-food company. Read on the moreTerminal.

Safran SA’s 9.6 billion-euro ($10.2 billion) acquisition of aircraft-seat maker Zodiac Aerospace SA, already facing opposition from , TCI Fund Managementwas thrown into further disarray after Zodiac cut its outlook again on March 14, raising pressure on Safran to cut the price or abandon the deal outright. The revised outlook, Zodiac's 10th profit warning in less than 2 1/2 years, bolsters the argument of TCI, a Safran investor that opposes the transaction. Read moreon the web.

Petrus Advisers demanded in a March 14 letter that Immofinanz AG take steps to maximize shareholder value, saying the market “evidently does not approve management’s current efforts.” Read on the Terminal.more

 

 

 

Bloomberg Brief Managing Editor

Paul Smith

psmith152@bloomberg.net+44-20-3525-8653

Hedge Funds Editor

Melissa Karsh

mkarsh@bloomberg.net

+1-212-617-4557

Contributing Editor

Nathaniel E. Baker

nbaker14@bloomberg.net

+852-2293-1176

Darshini Shah

dshah165@bloomberg.net

+44-20-35250790

 

 

 

 

Reporter

Hema Parmar

hparmar6@bloomberg.net

+1-212-617-6990

Contributing Reporters

Suzy Waite

swaite8@bloomberg.net

Contributing News Reporters

Katherine Burton

kburton@bloomberg.net

Saijel Kishan

skishan@bloomberg.net

Simone Foxman

sfoxman4@bloomberg.net

 

 

Marketing & Partnership Director

Courtney Martens

cmartens3@bloomberg.net

+1-212-617-2447

Advertising

Lucy Rosen

lrosen23@bloomberg.net

+1-212-617-6759

Reprints & Permissions

Lori Husted

lori.husted@theygsgroup.com  

+1-717-505-9701 x2204

 

 

 

Interested in learning more about

the Bloomberg terminal? Request a

free demo .here

This newsletter and its contents

may not be forwarded or

redistributed without the prior

consent of Bloomberg. Please

contact our reprints and

permissions group for more

information. © 2017 Bloomberg LP.

All rights reserved.  

Calendar

  Hedge Funds 11  March 21, 2017

 

DATE ORGANIZER EVENT SPEAKERS/ATTENDEES OF NOTE/DETAILS LOCATION

March 21-22 InvestOps Trade Tech Invest Ops 2017April Wilcox, Calstrs; OMERS; Henry Jenny Tsouvalis, Kravchenko, Marshall Wace; Tiffany Fleming, Prudential IM.

Tampa, Florida

March 22 Markets Group ALTSLA 2017

Dick Pfister, AlphaCore;   LA Employees Bryan Fujita,Retirement System; Michael Wu, GenSpring; Jim Burritt, Pacific Life;  San Bernadino Employees Donald Pierce,Retirement Association. 

Omni Hotel, Los Angeles

March 30 Talking Hedge Emerging Managers & DiversityKenny King, JPMorgan;   Paamco; Judith Posnikoff, Ron

 Lomas Capital;  Policemen's Annuity McIntosh; Aoifinn Devitt, and Benefit Fund of Chicago. 

UBS Tower, Chicago

April 3 CatalystCap Intro: Credit/Fixed Income Alternative Lending

Investment manager and investor meeting. New York

April 4 Joint Venture Events Group3rd Annual Liquid Alternatives Strategies Summit

Yung Shin Kung, Quantitative Investment Strategies; Dick Pfister, AlphaCore; Anton Schutz, RMB Funds.

New York

April 4 Markets Group Alts Investor Forum South Teacher Retirement System of Texas; Steven Wilson, Ed

 Chapwood Investments.  Butowsky,Dallas

April 5 Talking HedgeThe Modernization of Due Diligence for Alternative Investments

Lionel Erdely, Investcorp;  Rothschild; Steven Shakil Riaz, Kahn, Talpion;  Glenmede; Alessandra Benjamin Alimansky, Tocco, JPMorgan. 

Harvard Club, New York

April 13 Hedge Funds Care San Francisco BenefitContact Rachel Wheeler at rhweeler@hfc.org for more information.

San Francisco

April 20 Context Summits NYC 2017 One-on-one meetings with investors.   New York

April 23-26 informa GAIM Ops CaymanMark DeGaetano, KKR Prisma; Samantha Greenberg, Margate; Elizabeth Madden, Davidson Kempner; Steve Metzger, Two Sigma; Mark Schein, York Capital. 

Ritz Carlton, Grand Cayman

April 27 13D Monitor Active-Passive Investor SummitAlex Denner, Sarissa; Blue Harbour; Clifton Robbins, Jeff Smith, Starboard; Mick McGuire, Marcato; Ed Garden, Trian Partners; Keith Meister, Corvex; Paul Hilal, Mantle Ridge. 

Plaza Hotel, New York

April 30-May 3

Milken Institute20th Annual Milken Institute Global Conference

To be released.  Los Angeles

May 3 Hedge Funds Care 15th Annual Chicago Benefit   Contact Rachel Wheeler at rhweeler@hfc.org for more information.

Chicago

May 8 Sohn Sohn Investment Conference To be released. New York

May 9-10 FA 3rd Annual Invest in WomenDiana DeCharles, Pinnacle; Clare Golla, Bernstein Private Wealth; Whitney Kenter, Matter Family Office.

Hyatt Regency Dallas

May 15 CatalystCap Intro: Alternative Investing Funds West

Investment manager and investor meetings. San Francisco

May 16-19 SkyBridge Capital SALT  

Bill Ackman, Pershing Square; Dan Loeb, Third Point; Jim Chanos, Kynikos; Kyle Bass, Hayman Capital; Troy Gayeski, SkyBridge; Joshua Friedman, Canyon Partners; Michael Hintze, CQS; Boaz Weinstein, Saba; Roslyn Zhang, CIC.

Bellagio, Las Vegas

May 24-25 EQDerivatives   Global EQD 2017Jon Loflin, Mariner Coria;  Artemis; Christopher Cole,  Yann Le

 La Francaise GIS;  Thiel Macro; Her, Michael Green,  Jason Pimco.Goldberg,

The Wynn, Las Vegas  

June 13 Markets Group Alts Investors Forum WestGreg Irlbeck, Dallas Police & Fire Pension System; Justin

Covenant Multi Family Offices;  Satori Pawl, Darsh Singh, Alpha.

San Francisco

June 19 CatalystCap Intro: Multi-Fund FinTech Platforms

Investment manager and investor meetings. New York

DISCLAIMER: The information on this page was compiled by Bloomberg from multiple sources, public and private, and is deemed to be accurate, but not definitive or exhaustive. Questions about events should be addressed to the event organizer.

Calendar

To submit an event email mkarsh@bloomberg.net. The "event" column links to websites. "Attendees of note" links to individual's BIO page, where available, on the Bloomberg terminal.