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CAIA New York Educational Event: Fundamental Equity Long Short Panel - Where’s the Alpha?
Date(s):
June 10, 2019
Note: All times listed are in local time
Venue:Club 101
101 Park Avenue New York, NY 10178
Fee(s):This event has a fee
Description: CAIA New York Educational Event: Fundamental Equity Long Short Panel - Where’s the Alpha?
Equity Long/Short (ELS) fundamental strategies are the largest portion of the hedge fund universe but have been losing both assets and fans over the past 5 years. Will ELS continue to struggle and see assets decline, or could a great period of alpha generation be on the horizon? Our panel will explore where ELS managers are currently generating alpha and how allocators are and should be involved.
Specific topics to be discussed include:
• Co-investments: Can co-investments boost performance in your ELS allocation? How do you manage and execute on co-investment opportunities? • Shorting: Can managers generate alpha on their short book and will shorts be a driver of out-performance during the next market downturn? • Smaller managers: Is smaller better? How small is small? • Fees: Where are ELS fees today? What is the range of fees paid on a co-investment?
Speakers Kieran Cavanna, CIO and Co-Founder of Old Farm Partners Eric DeLamarter, Managing Partner & Founder Half Moon Capital
James Mitarotonda, CIO Barington Capital Group Chris Buonafede, Managing Partner & Chief Investment Officer at Peace Bridge Partners, LP Moderator TJ Theodorsen, Managing Director, Private Advisors
Agenda 5:30 PM Registration and Networking 5:50 PM Opening Remarks 6:00 PM Panel 7:00 PM Reception
Fees Members - Complimentary Non-Members - $20 Guest of registrant - $20 Time and Date Monday, June 10, 2019 5:30 PM to 8:00 PM EDT
Location Club 101 101 Park Ave New York, NY 10178
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Chris is responsible for all firm-wide matters at Peace Bridge and has final investment decision making authority.
Prior to co-founding Peace Bridge, Chris was a Managing Director and Portfolio Manager of HutchinHill Capital (2011-2017). At HutchinHill, Chris oversaw a portfolio primarily consisting of Financial Services equities alongside Michael Pinelli. From Q3 2012 until Q3 2015 Chris and Mike jointly managed the U.S. Long/Short Equity strategy at HutchinHill and were responsible for hiring and managing analysts across multiple industries. As Portfolio Manager, Chris was responsible for security selection, portfolio construction, trading and risk management of a diversified equity portfolio.
Prior to joining HutchinHill, Chris was a Managing Director at Och-Ziff Capital Management (2004-2011), researching and recommending U.S. Financial Services stocks (primarily banks) for portfolio inclusion. Prior to Och-Ziff, Chris was a Vice President/Analyst at Fox-Pitt, KeltonInc. (1998-2004) where he maintained sell-side research coverage of thrifts and mortgage-finance companies. Chris began his career at HSBC Asset Management (1992-1994), where he worked for two years as an investment associate assisting a fixed income portfolio manager before moving into an associate equity research analyst role at Harold C. Brown and Co. (1995-1997) and later an associate role in the Equities Division at Standard & Poor’s Corporation (1997-1998). Chris graduated with a BS in Finance from the Leonard N. Stern School of Business at New York University in 1992 and received his MBA from the State University of New York at Buffalo in 1996.
Kieran Cavanna
Job Title: Chief Investment Officer and Co-Founder
Organization: Old Farm Partners
Chief Investment Officer and Co-Founder of Old Farm Partners. Prior thereto, Mr. Cavanna worked at Soros Fund Management, (“SFM”), from 2013 to 2015 where he served as the Head of the External Manager Selection team. Mr. Cavanna and his team performed due diligence on and allocated to a select group of hedge funds that deployed a wide variety of strategies. Within this pool of externally managed capital, a meaningful amount was in co-investments generated by the underlying hedge funds. At SFM the team sourced, vetted and executed co-investments in equities, global macro and credit instruments.
Prior to SFM, Kieran was a Partner and the Head of Research at Titan Advisors, a $5b fund-of-hedge funds. In total Mr. Cavanna has allocated to hedge funds for 15 years. Mr. Cavanna started his career at KPMG Consulting as Senior Analyst.
Mr. Cavanna graduated from the University of Richmond with a BA and an MBA from Vanderbilt University.
Eric DeLamarter
Job Title: Managing Partner and Founder
Organization: Half Moon Capital
Managing Partner and founder of Half Moon Capital. Prior to founding Half Moon Capital in 2010, Eric earned an M.B.A. from The Heilbrunn Center for Graham & Dodd Investing at Columbia Business School, with a concentration in applied value investing. While attending Columbia Business School, Eric was a research analyst at Stelliam Investment Management, a value-oriented hedge fund, where he focused on identifying and evaluating investment opportunities across various sectors. Prior to Columbia Business School, from 2006 to 2008, Eric was an associate at Lineage Capital, LLC, a middle-market private equity fund, where his responsibilities included evaluating and structuring leveraged buyouts. From 2003 to 2006, Eric was an investment banking analyst at RBC Capital Markets and during 2001, Eric was an equity research summer associate at Merrill Lynch. Eric earned a B.A. in history from the University of Michigan in 2002.
James Mitarotonda
Job Title: Chairman of the Board, President and CEO
Organization: Barington Capital Group, L.P.
Mr. Mitarotonda is the Chairman of the Board, President and Chief Executive Officer of Barington Capital Group, L.P., an activist investment firm he founded in January 2000 that has assisted numerous companies in designing and implementing initiatives to improve long-term value. Mr. Mitarotonda is an experienced public company director. He currently serves as a director of Avon Products, Inc., OMNOVA Solutions Inc. and as the Chairman of the Board of The Eastern Company. Mr. Mitarotonda is a former director of The Jones Group Inc., The Pep Boys – Manny, Moe & Jack, A. Schulman, Inc., Register.com, Inc., Gerber Scientific, Inc., Griffon Corporation, Ameron International Corporation and Ebix, Inc., among other companies. Mr. Mitarotonda received an M.B.A. from New York University’s Graduate School of Business Administration (now known as the Stern School of Business) and a B.A. in economics from Queens College, where he is currently a member of the Board of Trustees.
TJ Theodorsen
Job Title: Managing Director
Organization: Private Advisors LLC
TJ is a managing director and portfolio manager at Private Advisors. TJ focuses on sourcing, underwriting, and monitoring of long/short equity investments, including funds and co-investments.
Prior to joining Private Advisors, TJ was a Senior Vice President and Portfolio Manager for Alternative Investments at Axis Capital. Prior to Axis Capital, TJ was a Portfolio Manager for a global equity long/short hedge fund of funds at Bank of America Merrill Lynch. Previously, TJ was a senior hedge fund analyst at K2 Advisors and began his career as an analyst at Morgan Stanley.
TJ received a B.S. in Industrial Management and an M.B.A. from Carnegie Mellon University.
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