Welcome to GAIM Plan 2009
GAIM PLAN RECAP
On October 19 – 21, 2009 leading investors and top managers in the hedge fund industry gathered at Marriott Marquis for GAIM Plan, the fall forum for the GAIM series of events. The forum proved to be an invaluable opportunity to debate key challenges in the industry, build relationships with senior hedge fund industry professionals; and to gain insight from leading investors on where they are actively looking to invest and deploy capital.
The GAIM Plan team especially thanks all of the speakers for delivering very timely updates on how the alternatives investment industry is addressing the new alternative investment landscape. Asset allocators, end-investors and asset managers from across the globe shared their ideas and knowledge of current economic conditions and where opportunity lies in the next 12 months.
Robert Arnold from NEW YORK STATE COMMON, along with Peter Carey, also with NEW YORK STATE COMMON, Trey Beck of D.E. SHAW, Troy Gayeski of CITIGROUP HEDGE FUND MANAGEMENT GROUP and Diane Garnick of CRISTUS HEALTH FOUNDATION opened the forum directly addressing some of the key questions facing the hedge fund industry. Key Questions included “What is the future of the Fund of Funds Model?” “What Strategies will investors favor?” “How are investors changing their institutional allocations to alternative investments?”
Following Rob Arnold’s session was a lively debate between Ben Appen of MAGNITUDE CAPITAL and Bruce Brittain, moderated by Alan Lenahan of FUND EVALUATION GROUP. According to the panelists, the “alpha versus beta” framework relies on the concepts of alpha (a function of manager skill) and beta (a function of passive exposure to traditional asset classes) and also incorporates an array of “alternative betas” (expressing passive exposure to more esoteric asset classes). The events of the past two years have challenged this framework and left many investors wondering whether the model was broken or just needed refinement.
Following sessions with speakers including Jane Buchan from PAAMCO, Antonio Munoz from EIM MANAGEMENT and Michael Klein from AETOS focused their discussions on the themes of liquidity, transparency, risk management and finding the balance to investors’ expectations.
Day two addressed the macro view on where the opportunities will be. Richard Clarida of PIMCO and COLUMBIA UNIVERSITY opened the forum giving attendees a clear perspective on the underlying fundamentals of the US economy and the global economic outlook. He raised key concerns over the money supply and government’s bank intervention with the toxic asset program.
The final day centered on new opportunities in credit, distressed and new energy. With an opening address José F. González-Heres, MORGAN STANLEY ALTERNATIVE INVESTMENT PARTNERS followed by a lively conversation between four new energy mangers including: David Kandolha of AKEIDA CAPITAL MANAGEMENT, Tim Cheung, of NEW ENERGY FINANCE, Josh Green of VERDEO GROUP and Adam Raphaely of TFS ENERGY.
Attendees enjoyed ample opportunities to network with peers. From our hosted round tables, to seated luncheons, the QuickFire Showcase and capital introduction showcase, to extended networking breaks and cocktail reception, every attendee networked with leading hedge fund industry professionals in an exclusive environment.