Assistant Comptroller for Pensions, NEW YORK CITY RETIREMENT SYSTEMS
Chief Investment Officer, TEACHERS' RETIREMENT SYSTEM OF THE STATE OF ILLINOIS
Investment Officer-California Investments, CALIFORNIA STATE TEACHERS' RETIREMENT SYSTEM
Managing Director, CAMBRIDGE ASSOCIATES
City Treasurer, CITY OF CHICAGO
Executive Director, CHICAGO PUBLIC SCHOOL TEACHERS' PENSION AND RETIREMENT FUND
Investment Officer - Emerging Managers, ILLINOIS TEACHERS RETIREMENT SYSTEM
Investment Officer, ILLINOIS STATE UNIVERSITIES RETIREMENT SYSTEM
Senior Investment Analyst, STATE RETIREMENT AGENCY OF MARYLAND
Director of Hedged Strategies, UNIVERSITY OF FLORIDA INVESTMENT CORPORATION
Assistant Treasurer, HOWARD UNIVERSITY ENDOWMENT AND RETIREMENT FUND
Non-U.S. Equity Research, ROGERSCASEY
Performance Analyst, ENNIS, KNUPP & ASSOCIATES
Principle, CFA, MERCER INVESTMENT CONSULTING INC.
Principal, THE TOWNSEND GROUP
Portfolio Manager, Emerging & Minority Managers, ILLINOIS STATE BOARD OF INVESTMENT
Consultant, MERCER INVESTMENT CONSULTING
Chief Investment Officer, FIREMEN'S ANNUITY & BENEFIT FUND OF CHICAGO (IL)
Investment Officer, SAN DIEGO COUNTY EMPLOYEES RETIREMENT ASSOCIATION
Manager, Equity, MARCO CONSULTING GROUP, INC.
Managing Attorney-Advisor, BARGE CONSULTING AND SC ADVISORS
Chairman, JUDICIAL CAPITAL (FAMILY OFFICE)
Executive Director, CHICAGO PARK EMPLOYEES' ANNUITY & BENEFIT FUND
Vice Chairman-Trustee, PHILADELPHIA BOARD OF PENSIONS
President, OAKLAND MUNICIPAL EMPLOYEES' RETIREMENT SYSTEM
President, IPPFA & BARRINGTON POLICE PENSION FUND
Communications Director, IPPFA & BARRINGTON POLICE PENSION
Executive Director, LABORERS' ANNUITY AND BENEFIT FUND OF CHICAGO
Director of Research, MARCO CONSULTING GROUP, INC.
Chairman, Investment Committee, TEXAS PERMANENT SCHOOL FUND
Executive Director, MWRD RETIREMENT FUND
Director, CLONTARF CAPITAL
Investment Analyst, MUNICIPAL EMPLOYEES' ANNUITY & BENEFIT FUND OF CHICAGO
Senior Investment Analyst, ENNIS KNUPP & ASSOCIATES
Director of Communication, STATE OF PENNSYLVANIA
Chair, Investment Committee, OBERLIN COLLEGE
Senior Researach Analyst, FEDERAL STREET ADVISORS
Benefits Analyst, UNIVERSITY OF CHICAGO HOSPITALS
Investment Analyst, CHICAGO TEACHERS PENSION FUND
Chair, Investment Committee, OBERLIN COLLEGE
Director of Manager Search, BECKER, BURKE ASSOCIATES
Chief Financial Officer, POLK BROS. FOUNDATION
Director of Communication, STATE OF PENNSYLVANIA|
Investment Analyst, ENNIS, KNUPP & ASSOCIATES

President & CEO, CONSULTIVA INTERNACIONAL, INC.
Senior Associate, MERCER INVESTMENT CONSULTING
President, GEFFEN ENTERPRISES
Senior Vice President, Head, PLEXUS PLAN SPONSOR GROUP, INC.
Managing Director, GENESEE INVESTMENT (FAMILY OFFICE)
Deputy Fire Commissioner/ President of the Board, FIREMEN'S ANNUITY & BENEFIT FUND OF CHICAGO (IL)
Investment Manager Analyst, THE MARCO CONSULTING GROUP
Senior Investment Manager, MUNICIPAL EMPLOYEES' ANNUITY & BENEFIT FUND OF CHICAGO
Chief Investment Officer, BLUE PRAIRIE GROUP, L.L.C.
Administrator, Technology Development Fund , ILLINOIS STATE TREASURER'S OFFICE
Deputy Treasurer of Programs and Policy, ILLINOIS STATE TREASURER'S OFFICE
Managing Director, MBO CLEARY ADVISORS
Senior Research Analyst, ALTAIR ADVISERS, LLC
Trustee, BALTIMORE RETIREMENT SYSTEMS
Founder, IRENE'S HOME (CITY OF CHICAGO DEPARTMENT OF SOCIAL SERVICES)
Managing Partner, PARATUS PARTNERS
Board Member, THE UNQUOWA SCHOOL
Alternative Analyst, W.M. HARRIS INVESTORS
Executive Vice President, W.M. HARRIS INVESTORS
Executive Director, LOS ANGELES CITY EMPLOYEES' RETIREMENT SYSTEM
Chairmember of the Board, GALLAUDET UNIVERSITY
Director, ROGERSCASEY
Director of Manager Research, MARQUETTE ASSOCIATES, INC.
State Treasurer, STATE OF PENNSYLVANIA
Senior Investment Research Analyst, HEWITT INVESTMENT GROUP
Executive Deputy State Treasurer, STATE OF PENNSYLVANIA
Associate Director, CASEY, QUIRK & ASSOCIATES LLC
Director of Research, SHIELDS ASSOCIATES
Managing Director, SHIELDS ASSOCIATES
Trustee, CHICAGO TEACHERS' PENSION FUND
Partner, CURRAN FAMILY LIMITED PARTNERSHIP (FAMILY OFFICE)
Associate, BECKER, BURKE ASSOCIATES
Executive Director, COOK COUNTY (IL) ANNUITY & BENEFIT FUNDS
Deputy Director-Finance, COOK COUNTY (IL) ANNUITY & BENEFIT FUNDS
Vice President, AON INVESTMENT CONSULTING
Investment Officer - Risk, SAN DIEGO COUNTY EMPLOYEES RETIREMENT ASSOCIATION
Managing Partner/Attorney-Advisor, BARGE CONSULTING-SCA AND SC ADVISORS
Managing Director, DISABATO ADVISERS, LLC
Managing Consultant-Advisor, BARGE CONSULTING AND SC ADVISORS
Managing Partner and CIO, OCEAN ENDOWMENT FUND, LLC
Stewart Dier, Managing Director - Public Markets, N.Y.C. COMPTROLLER'S OFFICE
Board Member, ORANGE COUNTY EMPLOYEES RETIREMENT SYSTEM
Alternatives Analyst , AMERICAN OPTICAL FOUNDATION
President, Director of Research, MIDWEST ASSET MANAGEMENT

Wednesday, May 14, 2008

9:00a

Exhibit Setup

11:00

Registration Desk Opens

1:30p

Co-Chair Welcoming Remarks

1:40

How Emerging Manager’s Stay Calm in Stormy Markets
• Temptation to style drift
• Short-term solutions
• The dangers of cash
• Smart trades
• Rigid versus disciplined investment processes
• Risk Management – what does it really mean

Speaker:
CEO, CLEAR ASSET MANAGEMENT, LLC

2:00

Consultants Roundtable

Moderator:
Vice President, AON INVESTMENT CONSULTING

Panelists:
Director, CLONTARF CAPITAL
Consultant, MERCER INVESTMENT CONSULTING
President & CEO, CONSULTIVA INTERNACIONAL, INC.

3:00

Refreshment Break

Sponsored By:
JEFFERIES AND COMPANY

3:15

Compliance in a Regulatory Environment
• The SEC's New Anti-Fraud Rule
• Hedge Fund Trading Practices
• Side-by-Side Management
• Soft Dollar Arrangements - Conflicts of Interest and Disclosure
• "Hedge Fund Hotels"

Moderator:
President, BARGE CONSULTING, LLC

Panelists:
Partner, FULBRIGHT & JAWORSKI L.L.P
Partner, LEVENFELD PEARLSTEIN

4:00

Meet the Emerging Managers

This session will consist of emerging manager firms each with eight minutes to speak. There will be no power point presentations during this session. The eight firms will discuss their background, strategy, methodology and performance of their funds. There will be a session leader carefully watching the time limit. After each firms has presented, we will open the floor to questions from the audience.

Moderator:
Board Member, ORANGE COUNTY EMPLOYEES RETIREMENT SYSTEM

Panelists:
Managing Partner, CARDINAL POINT CAPITAL LLC
Co-CIO, Majority Owner, OAKBROOK INVESTMENTS, LLC
President, Director of Research, MIDWEST ASSET MANAGEMENT
Co-Founder and Managing Director, HARRISON STREET REAL ESTATE CAPITAL
CEO/CIO, HUBER CAPITAL MANAGEMENT
President/Portfolio Manager, PARADIGM CAPITAL MANAGEMENT GROWTH ADVISORS
Managing Member, IBIS MANAGEMENT LLC
Vice President, Senior Portfolio Manager, TURNER INVESTMENT PARTNERS

5:30

Investing in emerging managers - What does the research really show?

• Equities
• Private equity
• Hedge funds

Moderator:
Chief Investment Officer, TEACHERS' RETIREMENT SYSTEM OF THE STATE OF ILLINOIS

Panelists:
Vice President and Portfolio Manager, NORTHERN TRUST GLOBAL INVESTMENTS
Managing Director, PERTRAC FINANCIAL SOLUTIONS
President, PRISM CAPITAL
Senior Managing Partner, HAGIN INVESTMENT MANAGEMENT

6:30

Cocktail Reception

Thursday, May 15, 2008

7:30a

Continental Breakfast

Sponsored by:
CLEAR ASSET MANAGEMENT, LLC

8:10

Co-Chair Welcoming Remarks

8:20

INTELLIGENT INVESTING IN BULL, BEAR, OR SIDEWINDER MARKETS

Speaker:
Portfolio Manager, MAR VISTA INVESTMENT PARTNERS, LLC

8:40

INVESTING IN GLOBAL TRADE FINANCE ASSETS
• Market Overview
• Return Characteristics
• Current Market Conditions
• Investment Considerations

Speaker:
Managing Director, ROSEMOUNT CAPITAL MANAGEMENT, LLC

Track 1

Track 2

9:00

Private Equity Investment Styles and Strategies; Do Emerging Managers have an Edge?

• Can emerging private equity managers continue
• performance in multiple funds?
• What to look for in an emerging private equity manager
• Which fast-growth areas of emerging domestic markets
• exist for private equity investors
• How does an emerging private equity managers
• performance differ from an established manager in the
• event of a capital cycle downturn?
• Where to look for the best talent
• What are the risk/reward metrics for the various stages
• of venture capital investing
• What is more important as an emerging manager,
• beating indexes or beating the competition

Moderator:
Managing Member & Founder, AGECROFT PARTNERS and Investment Committee Member, CITY OF RICHMOND RETIREMENT SYSTEM

Panelists:
M.B.A, Managing Member & Founder, CRESTVIEW CAPITAL PARTNERS
Founder/Principal, CHANNEL MEDICAL PARTNERS
Managing Partner, AFI PARTNERS
General Partner, AUGURY CAPITAL PARTNERS

What do Emerging Fixed Income Managers have to offer that sets them apart?

• Successful fixed income strategies to attain success
• Distressed debt
• High yield
• A case for an emerging fixed income manager
• What should investors be looking for in a emerging fixed
• income manager and what to avoid

Moderator:
President, OAKLAND MUNICIPAL EMPLOYEES' RETIREMENT SYSTEM

Panelists:
Managing Partner & President, SIMRAN CAPITAL MANAGEMENT LLC
Senior VP & Portfolio Manager, STONEBRIDGE
ADVISORS LLC
Senior Managing Director-, LM CAPITAL GROUP, LLC
Managing Director, UTENDAHL CAPITAL MANAGEMENT

10:00

Fund of Funds - what impact have they have had on emerging hedge funds and can they sustain current performance?

• What do fund of funds look for in an emerging
• hedge fund?
• How does an emerging hedge funds performance
• compare to that of a non emerging fund?
• Can fund of funds continue identify emerging managers
• capable of out-performing across market cycles?
• What are realistic return expectations for fund of funds
• that allocates heavily to emerging hedge funds?
• Funds of emerging managers
• Emergence of opportunities in sector specific FOF's
• Active trading as an asset class/ investment strategy

Moderator:
Vice Chairman-Trustee, Philadelphia Board Of Pensions

Panelists:
Managing Partner, STONEHORSE CAPITAL MANAGEMENT
Managing Partner/Attorney-Advisor, BARGE CONSULTING-SCA AND SC ADVISORS
CEO, QUAESTA CAPITAL
Director of Strategic Planning, SB SCHONFELD FUND ADVISORS LLC

Equity Investment Styles and Strategies

• What equity strategies are emerging managers using
• to stay ahead of the curve?
• Large Cap, mid cap, small cap. Where are the best
• returns coming from?
• Where to find the best value and growth managers
• and what to look for

Moderator:
Managing Director, DISABATO ADVISERS, LLC

Panelists:
Portfolio Manager, MILLER HOWARD INVESTMENTS
Portfolio Manager, NOSTRADAMUS FUNDS, LLC
Chief Investment Officer, NICHOLAS INVESTMENT PARTNERS
Managing Director, CAMERON CAPITAL MANAGEMENT
Lead Portfolio Manager, BAILARD, INC.

11:15

Refreshment Break

11:30

How are Emerging Managers making their Styles & Strategies Successful in today’s competitive environment? Which ones are outperforming the rest and which will work best for the future

• Venture capital
• Hedge funds
• Socially responsible investments
• Domestic equity – small/mid/large cap
• Emerging managers in emerging markets
• International investments
• International equity
• How to best analyze their performance

Moderator:
State Treasurer, STATE OF PENNSYLVANIA

Panelists:
CITIGROUP/SMITHBARNEY
Portfolio Manager, PROFESSIONAL TRADERS MANAGEMENT
INVESTORS GROWTH FUND
Product Specialist, HODGES CAPITAL MANAGEMENT
Managing Partner, CREDO CAPITAL MANAGEMENT LLC

12:45p

AWARDS CEREMONY & LUNCHEON

2:00

Manager Selection, “What every investor should know”
• Identifying Emerging Managers and Beginning the Process

Moderator:
Senior Associate, MERCER INVESTMENT CONSULTING

Panelists:
Vice President, NORTHERN TRUST GLOBAL INVESTMENTS
Senior Vice President & Portfolio Manager, EACM ADVISORS LLC
Partner, LEVENFELD PEARLSTEIN, LLC
Senior Managing Director, ATTUCKS ASSET MANAGEMENT

3:00

Investor Roundtable

Moderator:
President & CEO, ALTURA CAPITAL

Panelists:
Assistant Comptroller For Pensions, NEW YORK CITY RETIREMENT SYSTEMS
Investment Officer-California Investments, CALIFORNIA STATE TEACHERS' RETIREMENT SYSTEM
Executive Director, LOS ANGELES CITY EMPLOYEES' RETIREMENT SYSTEM
Trustee, CHICAGO TEACHERS' PENSION FUND

4:00

Refreshment Break

4:15

"Financing Options for Emerging Managers"

• Best methods for incubating and seeding
• Synthetic investment strategies
• Unique financing alternatives
• How to best raise capital

Moderator:
City Treasurer, CITY OF CHICAGO

Panelists:
Managing Director, Head of US Equity Derivatives Sales, NATIONAL BANK OF CANADA FINANCIAL INC.
President & CEO, PROCTOR INVESTMENT
MANAGERS LLC
CEO, WESTON CAPITAL ASSET MANAGEMENT

What Are the Best Asset Classes and investment styles for an Emerging Manager? An Emerging Manager’s perspective.

• Equity volatility as an asset class
• A closer look at mid cap versus small cap
• Is it time to consider alternative investments?
• International investing: Is it time to look at India?
• How can real estate fit in your portfolio?
• Niche investment strategies

Moderator:
Chairman, Investment Committee, TEXAS PERMANENT SCHOOL FUND

Panelists:
First VP Investments, GOODSON, KIEFFER & CARTER ASSET MANAGEMENT GROUP OF WACHOVIA SECURITIES
Principal, PALISADES FINANCIAL LLC
Executive Vice President Fund Management, WRIGHTWOOD CAPITAL

5:15

Emerging Brokers and their evolving role

• How do Brokers Add Value
• Expertise in Institutional Trading w/ Creditable
• Client References
• Global Trading Capabilities
• When do you need to hire
• Membership in a National or Regional Exchange
• Access to New Issue Products
• Access to Liquidity
• When does a broker meet the requirements emerging
• Adequate Capitalization
• Investment in Technology
• Market Structure Changes and the Impact on US
• Equity Strategies

Moderator:
Executive Director, CHICAGO PARK EMPLOYEES' ANNUITY & BENEFIT FUND

Panelists:
Senior Vice President, TERRA NOVA FINANCIAL LLC
Chief Executive Officer, MULTITRADE SECURITIES

"Simultaneously Running and Doing the Business"
Institutional investors hear “pitches” at least five to ten times a day. How can you get your firm to stand out? Should you hire a third party marketer or have an internal marketing person? What should you highlight about your team and your fund? What kinds of things should you avoid discussing on a first meeting? What is the best way to ensure a second and third meeting

• How to market your fund
• Business challenges that face leaders today

Moderator:
Chair,Investment Committee, OBERLIN COLLEGE

Panelists:
Managing Partner and CIO, OCEAN ENDOWMENT
FUND, LLC
Senior VP, JEFFERIES AND COMPANY
Chief Executive Officer, CAPITAL INNOVATIONS, LLC

5:45

Pallet of Real Estate Investment Styles and Strategies:
• What it the difference between core-plus, value
• and opportunistic real estate?
• Direct real estate vs. REITS
• Examining the potential for retail, industrial, office
• and residential sectors
• Changing definitions of what are acceptable real
• estate investments
• Urban land development

Moderator:

Panelists:
Principal, PALISADES FINANCIAL LLC

Emerging Brokers and their evolving role
• How do brokers add value
• Expertise in institutional trading with creditable
• client references
• Global trading capabilities
• When do you need to hire
• Membership in a national or regional exchange
• Access to new issue products
• Access to liquidity
• When does a broker meet the requirements emerging?
• Adequate capitalization
• Investment in technology
• Market structure changes and the impact on US
• equity strategies

Moderator:
Executive Director, CHICAGO PARK EMPLOYEES' ANNUITY & BENEFIT FUND

Panelists:
Senior Vice President, TERRA NOVA FINANCIAL LLC
Chief Executive Officer, MULTITRADE SECURITIES

6:15

Cocktail Reception

Friday, May 16, 2008

7:15a

Continental Breakfast

7:50

Co-Chair Welcoming Remarks

8:00

What is the current state of emerging manager programs?
How do institutional investors who have Emerging Managers programs define “Emerging Managers?”
What are some of the statutory or investment policy implications for institutional investors in developing Emerging Manager mandates?
Can Emerging Managers generate excess performance and provide institutional investors with greater exposure to the real estate markets?
Should investors take proactive steps to create a next generation of real estate investment managers?
Is greater gender and ethnic diversity an appropriate objective?
Are the characteristics of an emerging manager changing?

Moderator:
Chairman, Investment Committee, TEXAS PERMANENT SCHOOL FUND

Panelists:
State Treasurer, STATE OF PENNSYLVANIA
Managing Director, PFM ADVISORS

8:45

“Why Small is still Beautiful” The benefits of “Keeping it Little”
Manager Economies and Diseconomies of Scale
• Why keep from emerging?
• True or false: small = innovative creativity and big = bureaucracy. Does this still hold true?
• Alignment of interests
• Depth of resources
• Business risk: what is the best way to manage it?
• Screens?
• Fund of funds managers
• Fund infrastructure
• The cost to trade

Moderator:
Managing Director - Public Markets, N.Y.C. COMPTROLLER'S OFFICE

Panelists:
Partner, CURRAN FAMILY LIMITED PARTNERSHIP (FAMILY OFFICE)
Senior Vice President, Head, PLEXUS PLAN SPONSOR GROUP, INC.

9:45

"Manager Due Diligence: The Advantages of Utilizing a Managed Account of Alternative and Hedging Strategies"

Speaker:
Principal, Managing Director, Business Development, GLOBALBRIDGE, INC.

10:05

Investing in Domestic Emerging Markets/ETI
• Learn how public plans and other institutional investors are adopting economically-targeted investing (ETI) strategies
• Utilizing industry benchmarks to track financial performance of ETI
• Evaluating ETI strategies from both financial and community impact perspectives

Speakers:
President, STRATEGIC DEVELOPMENT SOLUTIONS
President & CEO, CONSULTIVA INTERNACIONAL, INC.

10:45

Emerging Managers Wrap-up Discussion

Moderator:
Principal & Managing Director, CAPITAL PROSPECTS LLC

Panelists:
Assistant Comptroller for Pensions, NEW YORK CITY RETIREMENT SYSTEMS
Chairman, Investment Committee, TEXAS PERMANENT SCHOOL FUND

11:45

Co-Chair Closing Remarks