NEW YORK - More than 300 emerging managers and institutional investors, including investment professionals from public and corporate pension plans, endowments, foundations, fund-of-fund managers and consultants, have convened at Consortium 2011.
Many state treasurers, chief investment officers and other key decision makers from across the country—with oversight investment responsibility for more than $1 trillion in retirement funds—will also join the annual meeting with a focus on identifying emerging managers, many of which are women- and minority-owned funds, for possible investment partnerships.
“The strong and continued interest in emerging manager funds directly correlates to these managers’ exceptional records of return. Consortium 2011 is an ideal way for institutional investors to start discussions with qualified emerging managers. For emerging managers, there is no more effective outlet for gaining the attention of institutional investors in private equity, venture capital, hedge fund, real estate, equities, fixed income and other asset classes,” said Renae Griffin, president of RG & Associates, the event producer.
An industry survey* conducted by RG & Associates and Emerging Manager Monthly in advance of Consortium 2011, provides some much-needed perspectives on the emerging manager landscape, including:
100% of emerging managers indicated they are “currently in fundraising mode.”
60%+ emerging managers indicated domestic public equities as their primary area of investment focus; alternative investment strategies, including private equity, hedge, venture and real estate were also part of the mix.
62% of respondents had raised capital in the last year from public plans and over half (51%) from high net worth individuals.
Access to consultants—firms that provide a platform of support and potential access to institutional investors—was cited by 37% of emerging managers as the most challenging connection to make as part of the fundraising cycle.
“The process of fundraising is a constant challenge. For emerging managers and first-time funds, the environment can be especially daunting. Consortium 2011 provides a critical first connection between many emerging managers and institutional investors,” noted Griffin. “This year, we’ve added a virtual connection, the Emerging Manager Hub, to keep the conversations and networking going post-event.”
Two Consortium 2011 companion programs—The Bootcamp and The Intensive—provide emerging managers and institutional investors with focused dialogue and interchange about issues they tackle daily. Now in its second year, The Bootcamp is a fast-paced, half-day workshop for emerging manager funds launched in the past 24-months. The interactive sessions, many led by top institutional investors, provide strategic, actionable advice on topics ranging from marketing and fundraising strategies to operational and back office management. The popular “pitch” session puts new managers face-to-face with top institutional investors, who provide candid perspectives to help managers fine-tune their story and presentation skills.
The Intensive is an institutional investor-only forum catering to investment staff and trustees from public and private pension funds, endowments, foundations and Taft-Hartley union funds. The agenda is intense and the sharing and insights are refreshing. During facilitated discussions, institutional investors will address pressing issues, while also examining the merits and returns delivered by emerging manager programs and various sector-driven investment strategies. Focused entirely on issues relating to the institutional investor community, The Intensive provides institutional investors with a rare opportunity for peer-to-peer dialogue.
Event producer RG & Associates works closely with a prestigious Advisory Committee and Planning Committee to identify experts such as CIOs and Treasurers on the institutional investor side to address timely investment issues, operating challenges and market shifts. Here is a shortlist of Consortium 2011 panelists on the institutional investor side:
Chip Flowers, State Treasurer – Delaware State Treasury
Rosie Rios, Treasurer – Department of the Treasury
Catherine Pugh, Senator – Maryland State Senate
John Liu, Comptroller – New York City Office of the Comptroller
Ranji H. Nagaswami, Chief Investment Advisor - New York City Mayor Michael R. Bloomberg Office
Tyson Pratcher, Assistant Comptroller – New York State Office of the Comptroller
Thomas Lee, Executive Director – New York State Teachers’ Retirement System
Brian O’Neil, Chief Investment Officer – Robert Wood Johnson Foundation
Greg Henry, CFA, Manager of Investments – Southern California Edison
Gina M. Raimondo, Treasurer – State of Rhode Island Office of General Treasurer
Iris Martinez, Senator – Teachers’ Retirement System of Illinois
Bruce Zimmerman - Chief Executive Officer and CIO – University of Texas Investment Management Company “UTIMCO”
All sessions are being held at the InterContinental New York Times Square in Manhattan.