The past decade or so has witnessed a rapid transformation in the underlying business of hedge funds. Having started out as boutiques servicing mainly the very rich, many of these firms have had to cope with a massive influx of capital, which is increasingly provided by large, institutional plan sponsors of every type. As the sector has ballooned to an excess of 8000 providers managing over $1 trillion in AUM, it has attracted increasing government interest and regulatory oversight. In addition to raising legitimate questions regarding their ability to sustain its characteristically high return profile, these developments are forcing hedge fund operators to mature as businesses. All of these developments are occurring against a very challenging investment background. Strong hedge fund returns have historically been positively correlated with high volatility and interest rate levels. Both of these have hovered at historic lows for quite some time now, which goes a long way to explain why many funds have found it difficult to impress with their performance. The combination of all the above factors serves to illuminate why managing the business of hedge funds has become increasingly challenging. While barriers to entry have remained low, the barriers to success appear to be ever rising.

The Harvard Business School Club of Connecticut, in partnership with Argyle Executive Forum, is organizing this one day event to help address this business theme. We have explicitly designed the conference to be a peer-to-peer gathering, fostering a lively debate around these issues. The forum, to take place in Greenwich, Connecticut, will bring together approximately 200 founders and senior managing partners of leading alternative investment management firms, senior operating executives from public and private operating companies, members of the endowment, foundation and pension fund community, as well as select advisory firms. The event is strictly by invitation only and a registration code is required. If you did not receive an invitation but would like to inquire about attendance, please contact Erin Sauter at:

*This event is closed to the press/media

8:00am – 8:30am

Breakfast Reception & Opening Remarks

Breakfast Reception Presented by:
Bombardier Flexjet

Opening Remarks by Conference Chairmen:
Tremont Capital Management
Westwood Partners LLC

8:30am – 9:10am

"The Hedge Fund Industry Grows Up—And Faces Challenges"

Dean Barr
Managing Director
Citigroup Alternative Investments

9:10am – 10:00am

“How the class action mechanism can be utilized to restructure trouble companies.“

Panel Discussion Presented by:
Schiffrin & Barroway, LLP

Andrew L. Barroway
Managing Partner
Schiffrin & Barroway LLP

David G. Latzke
Chief Financial Officer

Randal B. Tofteland
Chief Executive Officer

10:00am – 10:45am

Lee S. Ainslie III
Managing Partner
Maverick Capital

Interviewed by:
Byron Wien
Chief Investment Strategist
Pequot Capital

10:45am – 11:00am

Coffee Break

Presented by:
Entwistle & Cappucci LLP

11:00am – 11:50am

Sourcing Liquidity in a Changing Landscape”

Panel Discussion Presented by:

11:50am – 12:50pm

Lunch Reception

Presented by:
Fidelity Prime Services

12:50pm – 1:30pm

Julian H. Robertson, Jr.
Chairman & Chief Executive Officer
Tiger Management, L.L.C.

Interviewed by:
Mark W. Yusko
President & Chief Investment Officer
Morgan Creek Capital Management, LLC

1:30pm – 2:00pm

"Alternative Thinking About Investments"

Mark W. Yusko
President & Chief Investment Officer
Morgan Creek Capital Management, LLC

2:00pm – 2:40pm

Coffee Break

Presented by:
Chadbourne & Parke LLP

2:40pm – 3:30pm

“The Growth of Options in the Institutional Marketplace”

Panel Discussion Presented by:
International Securities Exchange

Boris Ilyevsky
Head of Business Development
International Securities Exchange

Kim Bang
Chief Executive Officer
Bloomberg Tradebook L.L.C.

Lawrence Gibbs
Portfolio Manager
Millennium Partners

Jeffrey Shaw
Vice President and Head of US Trading
Timber Hill LLC, a division of Interactive Brokers LLC

Peter Scialla
Managing Director and head of US Volatility Trading
Goldman Sachs

3:30pm – 4:00pm

"A Conversation with Lee Cooperman"

Leon Cooperman
Founder and Chairman
Omega Advisors, Inc.

4:00pm – 4:50 pm

Panel Discussion Presented by:
Tremont Capital Management, Inc.

Paul DeRosa
Mount Lucas Management

Giampaolo Guarnieri
Portfolio Manager
FrontPoint Partners LLC

Renee Haugerud
CIO, Managing Principal and Shareholder
Galtére International Fund Ltd

Marc Lasry
Managing Partner
Avenue Capital Group

5:00pm – 5:30pm

"The 'Opportunity' in Alternative Investments"

Seth A. Klarman
The Baupost Group, L.L.C.

5:30pm – 6:30pm

Cocktail Party

Presented by:
Ospraie Management

Still have questions? We have answers.

I want to attend, but what if I'm unsure of my schedule and need to cancel my participation?

Just let us know. We understand that schedules change! However, we always have a waiting list for this event, and if you don't cancel, we will assume you are still attending and your spot will go unused. If you must, cancel at least 48 hours prior to the event to make room for others!

What if I can't be OOO for a whole day, or need to come late?

We have wifi and private rooms available for attendees to take calls and spend some quiet time on emails, as well as access to printing. Have a morning meeting you can't miss? No problem. This event was designed for busy executives - we get it.

I'd like to bring some colleagues. Do I need to register them online?

Events are more fun with friends, and we'd be happy to host your team. You can have them register online, or send us their names, titles and email addresses and we will take care of it for you!

I don't see the event venue listed. Where will the meeting be held?

To maintain exclusivity, we don't release the venue address until the registration process has been completed. All logistical details will be shared once you have requested a pass and been approved.

The 2006 Hedge Fund Leadership Forum in Greenwich is proudly sponsored by: