Quick viewing(Text Mode)

Tomorrow's Titans 2016 Introduction

Tomorrow's Titans 2016 Introduction

ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL /JONATHAN FAYMAN FEDERICO RIGGIO MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/ JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/ PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/ JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/ PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/ JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/ PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/ JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/ PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/ JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORN ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ SIDIKARO RAJIV SOBTI NICK TILLER ASHWINTOMORROW’S VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/ PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN ADAM BERNSTEIN SCOTT BESSENT DIANE MCKEEVER CARSON BLOCK DIDRIC CEDERHOLM EDWARD V. DENOBLE T. TROY DIXON MIGUEL FIDALGO KEVIN GRIFFIN PHILIP HILAL MATTHEW IORIO DAN KAMENSKY MARC LIPSCHULTZ/DOUG OSTROVER POOJA MALIK MARK MCKENNA JOHN MELSOM JAMIE MENDOLA DAVID MENERET DENNIS RUGGERE/ THOMAS EINHORNTITANS ZACHARY SCHREIBER PAVANDEEP SETHI BOAZ2016 SIDIKARO RAJIV SOBTI NICK TILLER ASHWIN VASAN SHAHRAAB AHMAD ELIF AKTUG SIMON DAVIES CHRIS DALE GERLOF DE VRIJ ANDREW DICKSON GREGOIRE DOOMS BRUCE EMERY DAVID FEAR JAMES HOLLOWAY/IAIN BUCHANAN FREDRIK JUNTTI STEPHEN KIRK SELVAN MASIL EDWARD MISRAHI JOSEPH OUGHOURLIAN NEIL PHILIPS/ JONATHAN FAYMAN FEDERICO RIGGIO CHRIS ROKOS MICHAEL SIDHOM NEIL TOFTS GUILLAUME TOUZE/PAUL-GEORGES MOUCAN JASON BROWN ARJUN MENON LYLE PAKULA YUET WEI WAN

IN ASSOCIATION WITH Tomorrow's Titans 2016 Introduction

HAMLIN LOVELL, CONTRIBUTING EDITOR

he Fund Journal’s fourth Europe 50 (e.g. , Aspect, , The above broadly applied to previous Titans surveys biennial Tomorrow’s Titans survey, BlueBay, Cheyne, Lansdowne, , Theorema) but a few new trends are evident in this one. Hedge generously sponsored by EY, illuminates and US 50 (e.g. Baupost, Citadel, Convexity, Elliott fund managers have, for some years, been quietly a microcosm of a dynamic Advisers, Lone Pine, Millennium Partners, Pershing running separate accounts for specific clients using industry that continues to spawn new Square, Tudor) rankings as well as some larger Environmental, Social and Governance (ESG) criteria, Tfunds, strategies and companies. All managers headquartered in Australia (e.g. Boronia, yet very seldom branding as ESG investors. Now some the names in our 2016 Tomorrow’s Titans survey are Macquarie). funds, including Nick Tiller’s Precocity, are starting new names, meaning they have not featured in our to clearly state that ESG enters their process. The previous surveys in 2014, 2012 or 2010. growing proportion of inflows coming from pension funds with ESG policies may explain more public Fewer hedge fund launches may be reported if utterances on ESG. For instance, Europe’s largest a higher proportion of managers trade sleeves , APG of the Netherlands, which has within multi-strategy funds; stay below registration around $25 billion invested in hedge funds, avoids thresholds while building track records; only run investments in cluster bombs. Other pensions have managed accounts; or start strategies inside family more extensive and prescriptive ESG policies. offices, endowments or pension funds. Many The ‘G’ in ESG, namely governance, has of course managers doing these things keep a low profile, EY is pleased to congratulate the fifty leaders been the province of activist hedge funds for decades. and also do not feature here for other reasons. We being recognized as The Hedge Fund Journal’s is most visible in the US, where at least like to see regulatory filings, as some rumoured Tomorrow’s Titans. As the industry continues three of our 2016 names, Diane McKeever, Carson launches never materialise. Though some funds in to explore innovative growth opportunities, EY Block and Didric Cederholm, pursue some activism. this survey have rapidly raised substantial assets, remains committed to helping hedge funds around Activists are increasingly emboldened by successes we do not set a hard minimum, partly because the world build new strategies and products, and in Europe. Southern Europe in particular offers great some strategies, such as shorter term trading or develop distribution networks and channels in scope to improve , and Joseph small cap equities, are inherently less scalable than which they have traditionally not been engaged. Oughourlian is a respected player in the region. others. No hard maximum applies to age and we As a leading global service provider to the did receive a nomination for a famous physicist who This survey contains only four women, partly industry, we have helped many firms develop started a fund at the age of 78! In many cases we are because many nominations we received had already from start-ups to some of the largest players in aware of strong performance, but not all managers the financial community. Our dedicated team appeared in the previous three Tomorrow’s Titans will have reportable i.e. personal, portable, and of hedge fund professionals is proud to provide surveys or the four biennial 50 Leading Women In public track records. Our nominators, who include tax services to approximately half of the top 100 Hedge Funds surveys. Whilst we regret not having allocators, brokers, advisers, former colleagues and Global Billion Dollar Club hedge funds and to audit more women in the survey, in percentage terms even friendly competitors, exercise judgment in approximately 40 percent of these institutions. EY 8% is above the proportion of women portfolio identifying managers who have potential to become is also proud to audit approximately 40% of the top managers in the industry. The 2015 paper The leaders within their strategy. We showcase a broad 50 European and top 10 Asian funds. This depth Performance of Female Hedge Fund Managers, cross section of managers, who are examples of of experience gives us a unique view of the new by Rajesh Aggarwal and Nicole M. Boyson, (who rising stars rather than an exclusive list. We reiterate challenges facing fund managers, along with the is ex-EY) identified 439 funds with at least one the customary disclaimer that many nominations ability to quickly provide innovative guidance that female portfolio manager against 9,081 with male firms need. received are worthy of inclusion. managers, between 1994 and 2013, but not all of

these funds survived. The paper concluded that Looking over the list of Tomorrow’s Titans, we are If fewer launches partly reflect a diminished male and female portfolio managers perform no confident in the talent that is emerging across the number of dedicated hedge fund seeders, including globe. EY looks forward to collaborating closely differently, but women have more difficulty raising regulation-hampered banks, day one asset numbers with Tomorrow’s Titans and their colleagues for assets. Indeed, several of the female nominations may not always be huge. Seeders, or day one many years to come. we received in early 2016, had liquidated funds a investors, in this survey include Blackstone, GCM few months later. In 2017, we expect to feature Grosvenor, Old Mutual Wealth, KKR and Protégé more women portfolio managers in our 50 Leading Partners. But some managers have swiftly multiplied Women in Hedge Funds survey (which will also their assets within years - or even months - of A smaller number have come from endowments include non-investment professionals). launching. Managers are well aware that the rise of (e.g. Harvard), pension funds (e.g. APG) or family liquid alternatives has seen UCITS assets grow faster offices (e.g. Duquesne, Point72, Soros, ZBI) and As hedge funds are ‘the new banks’ we received than assets in recent years. Platforms, some may be essentially external family, or multi- many nominations for those doing direct lending, including those of Lyxor, MontLake, UBP, and family, offices. Predictably, given investment banks’ and the survey includes two managers, MGG Rothschild, are raising assets, and some managers retreat from , only a handful Investment Group and Owl Rock Capital Advisors, have gathered most, or even all, of their assets via of more recent launches came from banks (e.g. in the space. Some in the hedge fund industry have these and other platforms. BAML, Deutsche Bank, , UBS). Some high hopes that banks’ support for early stage hedge 43 of the 50 have set up their own management funds could be revived if the new US administration Still, if numbers of new funds are lower, their quality companies while seven have launched funds and/ repeals the Volcker Rule, while rolling back Dodd and pedigree remains impressive. Most 2016 names or grown their careers within larger organisations Frank could reduce regulatory burdens. If the have cut their teeth at the bulge bracket hedge (e.g. BlackRock, Highbridge, Kairos, Och Ziff, Pelham, regulatory pendulum swings back, the numbers of funds, running multiple billions, that populate our Pictet and Systematica). hedge fund launches could perk up. THFJ

2 Adam Bernstein Shahraab Ahmad CIO, Pagoda Asset Management LP, New York Founder and CIO, The Decca Fund, London

Scott Bessent Elif Aktug Founder, Key Square Group, New York Portfolio Manager, Pictet Asset Management, Geneva

Carson Block Simon Davies Founding Partner and Director of Research, Muddy Waters LLC, San Francisco Founder and CIO, Sand Grove Capital Management LLP, London

Didric Cederholm Chris Dale Founder and CIO, Lion Point Capital, New York Founder, Kintbury Capital LLP, London

Edward V. DeNoble Gerlof de Vrij Founder, Frontlight Capital, Boston CEO and CIO, Blenheim Capital Management BV, Amsterdam

T. Troy Dixon Andrew Dickson Managing Partner and CIO, Hollis Park Partners LP, New York Founder, Albert Bridge Capital, London

Miguel Fidalgo Gregoire Dooms Founder and Portfolio Manager, Triarii Capital, Boston Product Manager, Systematica BlueMatrix, Geneva

Kevin Griffin Bruce Emery CEO and CIO, MGG Investment Group LP, New York Founder, Greenvale Capital, London

Philip Hilal David Fear Founder and Portfolio Manager, Clearfield Capital Management, New York Founder, Managing Partner and CIO, Thunderbird Partners LLP, London

Matthew Iorio James Holloway/Iain Buchanan Founder and Portfolio Manager, White Elm Capital LLC, Greenwich, CT CIO, CTO and COO, Piquant Technologies LLP, London

Dan Kamensky Fredrik Juntti Founder and Managing Partner, Marble Ridge Capital, New York Founder and CIO, Abberton Capital, London

Marc Lipschultz/Doug Ostrover Stephen Kirk Co-Founders, Owl Rock Capital Advisors, New York Founder and Portfolio Manager, Pelham Global Financials, London

Pooja Malik Selvan Masil Partner and Co-Founder, Nipun Capital, L.P., Foster City, California Founder and CIO, Westray Capital Management, London

Diane McKeever Edward Misrahi CIO, Ides Capital Management LP, New York CIO and Founding Partner, Ronit Capital LLP, London

Mark McKenna Joseph Oughourlian Global Head of Event Driven Strategies, BlackRock, New York Founder, Portfolio Manager and Managing Partner, Amber Capital, London

John Melsom Neil Philips/Jonathan Fayman CIO, Omni Partners US LLC, Orange County, California Co-CIOs, Glen Point Capital, London

Jamie Mendola Federico Riggio CIO and Founder, Pacific Grove, San Francisco Portfolio Manager and Partner, Kairos Partners, London

David Meneret Chris Rokos Founder, Mill Hill Capital, New York Founder, , London

Dennis Ruggere/ Thomas Einhorn Michael Sidhom Co-Founders, Dhalion Advisers LP, New York Founder, Immersion Capital, London

Zachary Schreiber Neil Tofts Chairman, CEO and CIO, PointState Capital LP, New York Founder and CIO, Mygale Capital, London

Pavandeep Sethi Guillaume Touze/Paul-Georges Moucan Founder and CIO, Gladius Capital Management, Chicago CEO and Founder/Portfolio Manager, Quadra Capital Partners, London

Boaz Sidikaro Jason Brown Portfolio Manager, Head of US Equity Investing, Executive Managing Director, Founder, Arkkan Capital, Hong Kong Och-Ziff Capital Management Group, New York Arjun Menon Rajiv Sobti Managing Director, Head of Asia, Portfolio Manager, Highbridge Capital Managing Director and CIO, Karya Capital Management LP, New York Management, Hong Kong

Nick Tiller Lyle Pakula Founder and Portfolio Manager, Precocity Capital, Stamford, CT CIO, AE Capital, Melbourne

Ashwin Vasan Yuet Wei Wan Founder and CIO, Trend Capital Management LP, Boca Raton, Florida Founder and CIO, Wei Capital Management, Hong Kong

TOMORROW’S TITANS 2016

also had an eight-year stint with Soros between 1991 and 2000. Key US Square personnel include a number of Bessent’s former Soros colleagues. Key Square is not Bessent’s first solo Adam Bernstein hedge fund – he started Bessent Capital in 2000. Bessent is relatively CIO unusual in having spent some Pagoda Asset Management LP time in the industry, New York as Head of Research for specialist emerging manager fund of funds Bernstein founded long/ equity Protégé Partners (which has seeded consumer, technology, media and another firm, Mill Hill Capital, that telecoms (TMT) fund Pagoda in features in this survey). Bessent’s 2014 with former colleague Glenn early career included a spell with Jim Vogelman. As of June 30, 2016 total Chanos’ Kynikos Associates, a firm assets have reached $379 million and renowned for short selling equities. regulatory filings show that Pagoda’s Bessent graduated in Liberal Arts long holdings have included Dollar from Yale University, in New Haven, Tree Stores, AT&T, Dish Network Corp, Connecticut, where he has taught an and three online travel agencies: elective subject entitled Hedge Funds: Ctrip, Expedia and Priceline. Bernstein History, Theory and Practice. previously spent eight years at JP Morgan subsidiary Highbridge Capital Management managing an equity portfolio in the TMT space Didric where his team’s profits reportedly made substantial contributions to Cederholm Highbridge’s returns. The team at Founder and CIO Pagoda now consists of six people Lion Point Capital including Bernstein and Vogelman. New York Chris Chung is CFO/CCO and previously worked at TriOaks Capital Cederholm founded Lion Point in July Management L.P.. Christopher Borris 2014. The firm has grown discretionary, is Head Trader, and formerly held the regulatory assets to $1.2 billion as of same role at Colonial Fund LLC, and December 2015, according to its Form Jeffrey Holycross, a former colleague ADV. Lion Point takes a value-oriented, of Bernstein’s at Highbridge, is an event-driven and activist approach, analyst. Bernstein began his career investing across the whole capital Carson Block as an Associate at RBC . In January 2016, Lion Point Markets and graduated with a BS in Founding Partner and Director of Research nominated two candidates to the Accounting and Finance from New Muddy Waters Capital LLC board of Ally Financial, the financing York University. San Francisco unit of GM, and in March 2016 Ally announced it would appoint a new Having spent many years openly publishing company research, and independent director. Prior to starting trading with proprietary capital, Block launched an activist short-biased Scott Bessent Lion Point, Cederholm was a Senior hedge fund with around $100 million in 2015 and runs around $150 Portfolio Manager, trading distressed million as of November 2016. Chief of Staff is Martijn Rasser, formerly Founder and for Paul Singer’s of the CIA. The CFO is Scott Devinsky, who previously worked at Ratan Key Square Group activist hedge fund Elliott Associates, Capital Management. Terence Ing has been hired from Pimco as Head New York L.P. Cederholm had previously worked of Credit. Muddy Waters has an eclectic research approach including at credit fund EOS Partners and before forensic accounting, on the ground investigation, behavioural analysis, Scott Bessent’s launch of Key Square that was a Distressed Analyst, also for and valuation, which identify shorts based on alleged accounting fraud, may be the third largest ever hedge Elliott Associates. Earlier, he worked at business fraud or fundamental problems. Muddy Waters Research fund launch, based on reported assets AIGGIG, initially in , and started specialising in Chinese , and recommended shorts such as of $4.5 billion, including $2 billion later in distressed, special situations Sino-Forest , which later went bankrupt, and Orient Paper. reportedly from George Soros. The and credit . Today Muddy Waters scours the globe for short candidates, and in 2016 founder of the largest ever launch, Cederholm graduated with an MBA in has announced short positions including US-listed medical devices group Convexity Capital, appeared in a Finance and Economics from Columbia St Jude Medical, German-listed media group Ströer and French-listed previous Tomorrow’s Titans survey University, where he was a Fulbright supermarket chain Groupe Casino. Mandarin-speaker Block practised as and the founder of the second largest Scholar, and Swedish America a lawyer for companies including Jones Day in Shanghai. He graduated launch ever, PointState Capital, Foundation Scholar. Previous to that in Law from Chicago-Kent University, and the University of Southern appears elsewhere in this survey. he obtained a Masters in Law from California. Bessent was formerly CIO of Soros Stockholm University’s Department Asset Management (from 2011) and of Law.

4 Edward V. DeNoble

Founder Frontlight Capital Boston

DeNoble founded macro hedge fund Frontlight Capital in 2015, which launched on July 1, 2016 with more than $200 million in . Harvey Felman serves as the Chief Operating Officer for Frontlight. Previously, Felman was Head of US emerging markets and fixed income sales and distribution at JP Morgan. Before founding Frontlight, DeNoble spent nine years as partner and portfolio manager of Convexity Capital Management, which was spun out of his prior employer, Harvard Management Company (HMC). At Convexity, DeNoble invested in G7 rates, emerging markets, foreign exchange and global credit markets. DeNoble’s finance career started in 1987 at HMC, in the operations group, and moved onto the portfolio management team, where he became T. Troy Dixon a portfolio manager in 1991. At HMC, Managing Partner and CIO DeNoble managed a credit and an Hollis Park Partners LP emerging market debt portfolio. New York He received an MBA from Boston University and a BS degree in Finance Troy founded Hollis Park Partners LP in 2013. The name Hollis Park pays homage to the Queens neighbourhood and Investments from Babson College. in which he grew up and his residence in Duane Park, Tribeca. Hollis Park is seeded by Chicago based GCM Grosvenor which is also a long term strategic partner. Hollis Park manages a structured products strategy that seeks to produce long-term returns through a combination of long and short positions in securitized products. Troy has over 20 years of trading experience within structured products. Most recently, he served as Managing Director and Head of RMBS Trading Group at Deutsche Bank where he led a top-ranked group of 70 investment professionals and sat on several executive committees. Troy also served on the Securities Industry and Financial Markets Association’s (SIFMA) RMBS Executive Board. Black Enterprise magazine named Troy one of the “Top 75 Most Powerful Blacks on Wall Street” and one of the “Most Powerful Players Under 40.” Troy earned his B.A. from The College of the Holy Cross where he currently sits on the President’s Council.

value plays including bankruptcies, Fidalgo was associated with ‘deep restructurings, reorganisations and value’ investments including Icelandic Philip Hilal merger arbitrage. All investment staff banks, Greek , at the firm are generalists. Triarii Argentine assets and the Swissair Founder and Portfolio Manager Miguel Fidalgo invests globally with roughly half of its bankruptcy. Prior to that Fidalgo Clearfield Capital Management current investments outside the US. invested in merger arbitrage and New York Founder and Portfolio Manager The strategy aims to deliver equity- other event-driven strategies under Triarii Capital like returns with low correlation to David Cohen and Andrew Spokes Hilal launched Clearfield in May Boston equity markets and some downside at Noonday Asset Management, of 2015. The firm has grown to protection, minimising the risk of which was part of approximately $600 million in assets Fidalgo founded Triarii Capital in 2015. permanent impairment of capital. Management. His first finance under management. The strategy is The fund launched in May 2016 with Shorts are mainly via single name role was as a Financial Analyst for an opportunistic, multi-disciplinary $100 million. The firm is opportunistic CDS protection. Before starting Triarii, Citigroup/Salomon Smith Barney. approach to special-situation and has a flexible mandate to invest Fidalgo spent seven years at Seth Fidalgo graduated in Economics and investing, blending Hilal’s investment across the capital structure. Triarii Klarman’s The , latterly Computer Science from Macalester and risk-management experience invests in special situations and deep as a Managing Director. At Baupost, College. in long/short equity, event-driven

5 investing across the capital structure managing long and short investments with Goldman Sachs, including fixed- 17 years of experience in distressed and private equity. The portfolio is in equity, debt, and derivative income trading, financial-instrument and event-driven situations. At Marble concentrated in Clearfield’s highest- instruments across industries structuring, , and Ridge, Kamensky has been applying conviction ideas, built on research- and geographies using a deep- private equity and venture capital. his core strength of uncovering drivers intensive, repeatable processes. fundamental-research approach. From He holds an M.B.A. from Harvard of value well ahead of the market. The firm employs nine full-time 2003 to 2006, he worked at Davidson Business School and a B.A. from Yale Since its launch in January 2016, people, including five investment Kempner Capital Management, where University, Phi Kappa and magna Kamensky’s Marble Ridge LP has professionals. From 2006 to 2014, he focused on event-driven equity cum laude. gained approximately 24% net YTD Hilal worked at Kingdon Capital and credit investments. From 1996 to October 2016 and recently closed Management as a global generalist, to 2001, he held various positions its Founders’ Class after securing a large anchor investment from one of Matthew Iorio the world's leading investment firms. Assets under management were $145 Founder and Portfolio Manager million as of November 2016. Prior to White Elm Capital LLC founding Marble Ridge, Kamensky was Greenwich, CT a Partner at Paulson & Co. Inc., where he initiated and led some of the firm’s Iorio founded White Elm Capital, LLC, most complex and profitable distressed a global long/short equity investment and event-driven investments across firm, in September 2007. Assets the capital structure. Before Paulson, were $1.014 billion as of 12/31/15, he served in senior roles at Lehman according to the firm’s Form ADV. Brothers and Barclays Capital as a White Elm invests both long and short, member of the Distressed Debt & in diversified sectors globally across Special Situations groups. Kamensky all market caps. White Elm aims to earned a J.D., cum laude, from the generate returns superior to the broad Georgetown University Law Center equity market averages while taking and a B.A., magna cum laude, from less risk. The firm applies a rigorous, Georgetown University. fundamental research process and conducts a quantitative assessment of each equity position, based on the company’s expected return, to Marc optimize position sizing and risk exposures across the portfolio. Prior Lipschultz/ to White Elm, Iorio was a Managing Director for Lone Pine Capital LLC, Doug Ostrover where he was responsible for sourcing, researching and executing investments Co-Founders Kevin Griffin in the and business Owl Rock Capital Advisors services industries. Prior to joining New York CEO & CIO Lone Pine, Iorio was a buy-side MGG Investment Group LP investment analyst at Oppenheimer Lipschultz spent 21 years at KKR, New York Capital and T. Rowe Price. He also rising to become a member of the previously worked as an Committee and Global Griffin founded MGG Investment Group in 2014, launching with $200 banking analyst for Salomon Brothers Head of Energy and Infrastructure million from MG Capital. MGG Investment Group is an alternative Inc in the Financial Institutions Group. investing at KKR. He had earlier lender that specializes in direct lending to mid-market US companies, Iorio received an MBA from the Tuck worked in M&A for Goldman Sachs. focusing on senior secured special situations and complex deals that School of Business at Dartmouth Ostrover co-founded GSO Capital may be neglected by traditional lenders. MGG’s approach involves and a B.S. with Distinction from the Partners, which was bought by deep-dive “equity-style” diligence to uncover better risk-adjusted University of Virginia’s McIntire School Blackstone in 2008. Prior to that he returns with a core focus on downside protection through heavy of Commerce. was Director and Chairman of the covenants and tight credit documentation. Griffin has originated Leveraged Finance Group of CSFB. or underwritten more than $3 billion in his career spanning across Owl Rock, which launched in 2016, is several credit cycles, with no losses since 2007. Prior to that, Griffin one of a growing number of non- was an MD and senior member of Highbridge Principal Strategies’ Dan bank entities that are increasingly Specialty Lending Platform and a Credit Committee member, as well providing finance to companies (as as a key member of Fortress in charge of originating and underwriting Kamensky much as $560 billion according to investment opportunities for the Drawbridge Special Opportunities a 2016 AIMA/Deloitte survey). Owl Fund. Griffin graduated from Georgetown University. Co-founded by Founder and Managing Partner Rock focuses on providing finance to Gregory Racz (former Principal of Hutchin Hill), and composed of Marble Ridge Capital middle market companies and their seasoned veterans from Cerberus, TPG, Oaktree, TCW, Apollo, JPM, and New York sponsors, spanning the whole capital DB, among others, MGG is managing approximately $400 million with a structure. Such companies sometimes final close expected at the end of 2016. Kamensky, who began his career experience a funding gap due to as a business restructuring and regulatory pressures on bank balance reorganization attorney, has more than sheets. Owl Rock Capital Corporation

6 is a Business Development Company with management and boards of (BDC). Lipschultz received his undervalued small and mid-cap Bachelors degree from Stanford public companies, and advocates University and his MBA from Harvard. board diversity. Ides’ first activist Ostrover got his Bachelors degree investment has been airport wifi from the University of Pennsylvania company Boingo. Ides’ presentation and his MBA from New York’s Stern raised concerns about Boingo’s School of Business. corporate governance, including the combined CEO and chairman role, a staggered board and management compensation structures. Ides also Pooja nominated Karen Finerman, co- founder of Metropolitan Capital Malik Advisers (who featured in the 2010 edition of The Hedge Fund Journal’s Partner and Co-Founder 50 Leading Women In Hedge Funds Nipun Capital, L.P. survey) and Bradley Stewart, CEO Foster City, California of private jet company XOJet, to the board of Boingo. The company later Malik co-founded Nipun in 2011 with increased its board from six to nine former Barclays Global Investors members, including one woman. Prior colleagues, Dr. Ken Hui and Dr. to launching Ides, McKeever was a Charles M.C. Lee. Nipun applies Partner of Park Row Capital. Before fundamental and behavioural that, she was a director of Sielox philosophies to investing in Asian LLC. Earlier, McKeever was a Partner equities with a systematic process. of James Mitarotonda’s Barington Since inception, the Nipun Asia Total Capital Group. McKeever received a Return Fund has delivered cumulative JD in Law from Fordham University returns of 40% while being beta- Mark McKenna School of Law, and a B.S. in Chemistry neutral to Asian markets. Nipun was from New York University. started with $20 million in assets, Global Head of Event Driven Strategies from founders, family and friends BlackRock and grew organically to reach $800 New York million within 3.5 years, without any seed or anchor investors. Nipun now McKenna’s event driven strategy has grown assets to over $1.2 billion has over 20 institutional investors in less than a year and a half. The strategy invests across equity and across pensions, endowments and credit to exploit a broad spectrum of corporate events including M&A, foundations and sovereign wealth spin/split-offs, restructurings, management changes and collaborative funds. Before starting Nipun, Malik activism. Most recently, McKenna launched a dedicated merger spent ten years at Barclays Global arbitrage hedge fund anchored with $200 million from sovereign Investors (BGI), where she was the wealth fund New Zealand Super. McKenna joined Blackrock in 2014 youngest woman to be promoted from the Harvard Endowment, where he was Managing Director and to Managing Director at BGI on the co-founder responsible for Harvard’s event driven strategy. Prior to active equity investment team. that, McKenna worked as a portfolio manager on the event-driven Malik managed long only and strategy within hedge fund . He started his career on long/short equity strategies. Malik Wall Street at Salomon Smith Barney as a Vice President in Mergers received an MBA in Finance from the John Melsom and Acquisitions where he advised on over $100 billion in corporate change. Earlier, McKenna served as a Lieutenant in the United States Indian Institute of Management in CIO Bangalore, and a BBA in Finance from Navy's Nuclear Submarine Force, where he received three US Navy Omni Partners US LLC Achievement Medal decorations. McKenna earned an MBA with the College of Business. She is actively Orange County, California involved with 100 Women in Hedge distinction from New York University’s Stern School of Business and a B.E. in electrical engineering from New York Maritime College. Funds and is a CFA charterholder. Melsom was an original partner when Omni was founded in 2004 and has been involved in managing global event strategies for 12+ 2016 to September, thanks mainly Melsom actively manages the Diane McKeever years, most recently as CIO for the to its focus on hard catalyst M&A portfolio during all time zones, and Omni Event Fund (OEF). OEF strategy Chief Investment Officer and situations. Melsom is opportunistic uses option structures to enhance assets have grown to $359 million Managing Partner in approaching deals globally, with risk/reward profiles. Before Omni, to September 2016 and is currently Ides Capital Management LP no pre-set geographic weightings Melsom was a proprietary trader open to investors. The strategy’s New York applying across regions. Bidding at First New York Securities. He resilience during the credit crisis wars, such as Pfizer trumping Sanofi graduated with double honours in helped it win a Lipper award for McKeever and Robert Longnecker co- to acquire Medivation, and the Computing Science, and Accounting 2007-2009 performance whilst founded activist investment advisor ‘bump’ in price of the SABMiller and Financial Analysis, from maintaining a low correlation to Ides Capital in 2016. Ides engages deal, have enhanced recent returns. Newcastle University, UK. equity markets. OEF was up 9.36% in

7 David Meneret

Founder Mill Hill Capital New York

Meneret founded Mill Hill in February 2015, and in October 2016 announced a seed capital deal, involving an innovative fee structure, with veteran seeder Protégé Partners. Mill Hill pursues a , relative value strategy in US credit. Protégé seeks out uncorrelated strategies and Mill Hill is distinguished by employing a blend of and market-implied data- driven proprietary cash flow models. This suite of analytics is applied to some less scalable, niche segments of the credit markets, including CLOs, non-agency MBS, corporate transportation, aircraft ABS, and esoteric ABS – as well as to corporate financials and credit indices. Meneret previously spent over six years at Macquarie, latterly as a senior portfolio manager for market-neutral relative value credit hedge fund, the Macquarie Credit Nexus Fund. At Macquarie, he was formerly Head of Securitized Debt and Financials Trading. Prior to Macquarie, Meneret was a Director at UBS Securities. Earlier he held roles at Calyon Securities and Credit Lyonnais Americas. Meneret graduated with an MS in Financial Engineering from Columbia University and an MS in Industrial Engineering from Ecole Centrale Paris.

helped to open the Palo Alto office. complex situations globally. The Jamie Mendola Prior to Scout, Mendola spent four fund is a concentrated portfolio of Zachary years at San Francisco-based special best ideas, often expressed on a CIO and Founder situations and event driven hedge hedged basis to isolate the legal or Schreiber Pacific Grove fund, Watershed Asset Management. structural convexity in catalyst driven Chairman, CEO and CIO San Francisco Mendola’s finance career began in situations. The fund launched in the PointState Capital LP leveraged finance at JP Morgan Chase third quarter of 2016 with a limited New York Mendola founded Pacific Grove and then he worked at private equity capacity $100 million founders share in 2014 and describes it as a firm JLL Partners. Mendola obtained class. Previously, Ruggere and Einhorn concentrated hedge fund focused an MBA from Stanford University co-founded the Global Event-Driven PointState was the second largest on investing in transformational and his B.S. in Management from Opportunities Group at UBS, which ever hedge fund launch when it situations over a two to three year Binghamton University. invested in legally and structurally started with $5 billion in 2011. The period. Assets under management are complex situations on a global basis. firm has discretionary, regulatory in excess of $200 million. Regulatory The group was involved in sovereign assets, of $19.747 billion, as of its filings show that the firm’s largest restructurings, legal arbitrage and year end 2015 Form ADV. Schreiber holdings have included Yum Brands, process leadership situations in co-founded the firm with Josh Northstar Asset Management, and Dennis Ruggere Europe, Latin America and the US. Samuelson, Kenan Turnacioglu and PTC. Pacific Grove is among a number and Thomas Before joining UBS, Ruggere ran Jack Franke, all of whom had formerly of hedge funds run by alumni of credit strategy at Fir Tree Partners, worked at Stanley Druckenmiller’s Scout Capital Management, which Einhorn and Einhorn was a senior distressed Duquesne Capital, where Schreiber returned capital to investors in trader at Goldman Sachs, where worked between 2002 and 2010. 2014 after a successful 15 year track Co-Founders he worked for five years including Schreiber has made some celebrated record. Mendola spent five years Dhalion Advisors LP during the 2008/2009 financial crisis. calls at events such as the Ira Sohn as a Partner at Scout, where he led New York Ruggere has an MBA from NYU, is a conferences. At the 2014 event he equity investments in the consumer CFA charterholder and also studied set out the case for shorting oil. At and financial sectors; invested in Dennis Ruggere and Thomas Einhorn at NYU Law School. Einhorn holds the 2016 Sohn New York conference, distressed debt and CDS; sat on the co-founded Dhalion in 2015. The firm an Economics degree from Princeton Schreiber revealed that he has trades Investment and Risk Committees, and invests in legally and structurally University and is a CFA charterholder. designed to profit from depreciation in

8 the Saudi Riyahl currency. Regulatory which was founded in 1994, follows income quantitative research team Trend Capital has 18 employees and filings show that PointState’s largest a fundamental, opportunistic and at Donaldson, Lufkin and Jenrette. manages $1.6 billion. Before founding holdings have historically included event-driven approach to investing Sobti has a PhD in Finance from the Trend Capital, Vasan was a portfolio Teva Pharmaceuticals, and Amazon. In in both long and short positions in Wharton School at the University of manager at Shumway Capital, where 2015, PointState launched two funds US equities. Och-Ziff’s event-driven Pennsylvania; an MBA in Finance from he developed the macro strategy that dedicated to Argentina, which can investments can involve mergers the Indian Institute of Management is now traded at Trend Capital. Trend invest in sovereign debt, corporate and acquisitions, restructuring, and in Ahmedabad, Gujarat; and a BA in Capital runs a diversified, fundamental debt, equities and special situations. activism. The largest holdings have Economics from St Stephen’s College discretionary macro strategy. Vasan Schreiber graduated from Brown historically included both call and in Delhi. takes a research-based approach University, in Providence, Rhode put options on Procter & Gamble Co; to investing; trading Island. Microsoft Corp; Google Inc; Dupont currencies, interest rates, credit and E I De Nemours; Activision Blizzard equity indices, both in developed and Inc; Air Products & Chemicals Inc; Nick Tiller emerging markets and only trades Fleetcor Technologies Inc; Charter liquid markets and instruments. Trend Pavandeep Communications, Inc; Hilton Founder and Portfolio Manager Capital has a UCITS feeder on UBP’s Worldwide Holdings Inc; Anheuser Precocity Capital U-Access Ireland UCITS platform. As Sethi Busch Inbev Sa Nv; Fidelity National Stamford, CT of 31.10.2016, net YTD performance Services Inc; and Jd.com Inc, of U Access (IRL) Trend Macro was Founder and CIO according to the September 30, 2016, Tiller founded Precocity in +5.84%. Prior to Shumway, Vasan Gladius Capital Management 13F filings. Och-Ziff has a weekly October 2015 to invest in energy, worked at Tudor, where he spent a Chicago dealing Irish UCITS fund, called Lyxor/ agriculture and natural resource decade as a partner running emerging OZ US Equity Opportunities Fund, on sectors. Discretionary assets have markets macro and credit. Before Sethi founded Gladius in 2009. The Lyxor’s UCITS platform, which hosts been estimated at $589 million. Tudor, Vasan was a portfolio manager firm has grown to multi-billion assets funds from several leading US hedge At the 21st annual Sohn New York at Oppenheimer funds. Before he and structures derivatives for some funds. Sidikaro started his finance conference, in May 2016, Tiller started his career as an international of the largest pension funds and career in the was a ‘Next Wave Sohn’ speaker economist at Citibank, Vasan did endowments in the US. It has offices and Restructuring Department at and made the case for investing in three years of PhD work at New York in Chicago, Utah and Hong Kong. Morgan Stanley. He graduated Royal Dutch Shell, based partly on University. Gladius runs approximately $2 billion with a BS in Economics from the its low ‘sum of the parts’ valuation in global derivative strategies. Sethi Wharton School of the University of relative to some other energy has been an innovative investor Pennsylvania. companies. Precocity is one of a within the derivatives landscape, growing number of hedge funds pioneering novel strategies and that employ ESG (Environmental, EUROPE helping to develop significant new Social and Governance) criteria as products, and a recognized speaker Rajiv Sobti part of their investment process, at conferences organized by the and before starting Precocity, Tiller Shahraab CBOE and volatility investing. Managing Director and CIO was a social entrepreneur. He Before launching Gladius, Sethi was Karya Capital Management LP founded, and remains chairman of, Ahmad previously Managing Director and New York Sustainable America, which aims to Global Head of Volatility Trading use education and Founder and CIO and Arbitrage at Citadel Investment Sobti founded Karya in 2011 and to make US food and energy more The Decca Fund Group, between 2004 and 2008. many of the team, including Head sustainable. Previously, between London Prior to that, he managed volatility of Risk Management, Ming Yan, had 2002 and 2013, Tiller managed a arbitrage strategies for J.D. Capital been working together before, at long/short equity and Ahmad launched The Decca Fund Management. Sethi started his other firms. Karya invests in equities, portfolio and led large teams for in April 2015 together with City career trading equity derivatives for sovereign debt, and mortgage backed Steve Cohen’s SAC Capital Advisers. Financial Investment Company, Morgan Stanley. Sethi graduated with securities, mainly in G7 countries. Before that, Tiller was a food sector an independent investment a Masters degree in Mathematics The firm has private funds; separate analyst and an energy analyst for management firm with $4 billion in from the University of Chicago and a accounts; a UCITS fund, the R Karya Fidelity Management and Research. group assets focused on alternative Bachelors degree in Chemistry from Macro fund on the Rothschild UCITS He received an MBA from Harvard strategies. The fund is an actively Cornell University. platform, and advises part of the Business School and graduated with traded strategy that takes a top- Rothschild Larch Lane Alternatives a BA from Boston College. down, thematic approach to global Fund. Karya managed discretionary, markets – it typically expresses regulatory assets of $910 million at short to medium-term investment Boaz Sidikaro year end 2015, according to its Form views, primarily within global credit ADV. Prior to Nomura, Sobti was CIO Ashwin Vasan markets, along with some tactical Portfolio Manager, Head of and CEO of Proxima Alfa Institutional use of macro instruments. Prior to US Equity Investing, Executive Advisor LP. Before that, he was a Founder and CIO launching Decca, Shahraab spent Managing Director senior member of the Investment Trend Capital Management LP five years (2008-2013) managing the Och-Ziff Capital Management Group Strategy Group and Co-Head of the Boca Raton, Florida Hutchin Hill Liquid Credit Strategy New York Fixed Income Group at BlackRock and allocated credit within Hutchin Financial Management, where he Vasan launched Trend Capital in Hill Multi-Strategy. Previously, he Sidikaro joined Och Ziff in 1998, was also co-portfolio manager of the 2011, with seed capital from his was a partner at Sailfish Capital and now has lead responsibility for Obsidian hedge fund. Earlier, Sobti former employer, ‘Tiger cub’ Chris (2005-2008) trading global relative its US equity strategies. Och-Ziff, headed up a highly ranked fixed Shumway. As of November 1, 2016 value within credit, and he traded

9 Before joining Millennium, Dale had worked for UBS.

Gerlof de Vrij

CEO and CIO Blenheim Capital Management BV Amsterdam

De Vrij joined Blenheim Capital Management, B.V., which is part of the Blenheim organization founded in 1989 by fellow Dutch born Willem Kooyker to provide investment and advisory services to investment funds with a focus on and commodities derivatives, in 2012. As part of Blenheim, De Vrij’s team launched a new strategy that follows a diversified, multi-asset investment approach that seeks to generate uncorrelated absolute returns. Blenheim BV has assets under management of approximately $500 million. Before moving to Blenheim, De Vrij was Managing Director of at APG Asset Management, Europe’s largest Elif Aktug pension fund at the time. Prior to that

he was Head of Strategy for another Portfolio Manager giant Dutch pension fund, PGGM, Pictet Asset Management and previously also Head of Strategy Geneva at the Philips Pension Fund. Before those roles, de Vrij spent nine years at Aktug joined Pictet Asset Management in 2011 to launch PTR-Agora, a European catalyst-driven market neutral ABN AMRO as a senior international strategy that sits in the Pictet Total Return fund range. The Agora strategy currently has $1.9 billion of assets economist, senior international fixed under management. It is a high conviction portfolio of around 35 catalyst focused core investment strategies, with income portfolio manager, and head each position hedged individually to extract and isolate idiosyncratic risk. Aktug leads the Agora portfolio of international bond research. De management team, which includes Benoît Capiod, Vincent Ijaouane and Julian Alexander Jost. Before joining Vrij began his career in academia at Pictet, Aktug spent thirteen years with Goldman Sachs. She started her career as an analyst at Goldman Sachs' the University of Nijmegen, having Investment Banking division in the French M&A division. In 2001, she moved to Goldman Sachs' proprietary graduated from the University of trading desk (GSPS) investing in European large cap equities. In 2006, she was appointed Managing Director, and Tilburg with a Doctorate in Monetary became head of the European equity long/short book in 2010. Aktug is of Turkish nationality and holds an MBA Economics. degree from Stanford University and a degree in Finance from the Institut d’Etudes Politiques de Paris.

bonds and CDS at J.P. Morgan (1999- years at Israel Englander’s Millennium 2004) in a variety of capacities, Chris Dale Partners, which runs $34.28 billion as including as Co-Head of High Yield of October 2016. At Millennium, Dale Credit Trading in 2004. Shahraab Founder rose to be a partner and reportedly ran graduated from Wesleyan University Kintbury Capital LLP one of the largest books in the London in 1999 with a Bachelor of Arts in London office. Dale’s tenure at Millennium Mathematics and Economics. While was relatively long; the firm has high attending Wesleyan, he was awarded Dale started Kintbury in May 2015, staff turnover due to its strict risk the Starr Scholarship and studied with capital of $417 million, according management policies. Kintbury has Andrew Dickson a course at the to SEC filings. The firm pursues a hired some of Dale’s former colleagues London School of Economics. He was European long/short equity strategy from Millennium, including Nick Founder and CIO named by Fortune magazine in 2011 emphasising large cap stocks with a Xanders. CEO Michael Burton, and Albert Bridge Capital as one of Wall Street’s top traders. value approach. Regulatory disclosures COO John Aves, both previously worked London The Decca Fund was hard closed in show that Kintbury has held a short at Marble Bar Asset Management, early 2016 with approximately $500 position in UK retailer, Marks and while Adrian Dolman had earlier been Dickson, formerly of Fidelity and million in assets. Spencer. Dale previously spent nine employed by JP Morgan Cazenove. Och-Ziff, spun his Alpha Europe

10 strategy off the Perella Weinberg UCITS feeder. Since inception in to equity style factors, and net country Partners (PWP) platform, launching June 2015, Systematica UCITS Fund Bruce Emery risk in an effort to maximise the the strategy independently in the ICAV - BlueMatrix Fund has returned influence of -specific, idiosyncratic spring of 2016 with assets under +5.07% (Class A USD). BlueMatrix Founder risk in the book. He has assembled management of $125 million. Former trades equities globally, using a Greenvale Capital a team with experience from such PWP colleagues have re-joined him, wide range of mainly fundamental London organisations as Partner Funds, Kynikos, including Doriana Pavlicu, Charles signals, including some proprietary Caxton, and Oaktree. Emery previously Hwang, and Jeremie Dadoun, filling ones developed by Systematica. Emery founded Greenvale Capital in co-founded Naya Management LLP with out a team of nine backed by a Proprietary signals can involve March of 2015. Greenvale follows a Masroor Siddiqui. Before that, he spent large US university endowment. social media and/or be informed by global equity long/short strategy, nine years as a portfolio manager at Dickson’s formative years working behavioural finance. BlueMatrix also running low net exposure in the range Citadel Investment Group. He received and studying under behavioural uses technical signals, including some of +/-10%. The firm does not use his MBA from the Wharton School at economist Richard Thaler at the shared with Systematica’s BlueTrend index or custom basket hedges, but the University of Pennsylvania, and his University of Chicago, underpin the CTA programme. The team is working instead gets all of its exposure through Bachelors from the University of Notre behavioural finance elements of the on incorporating elements of Natural single-name longs and shorts in a 40 Dame. investment process. The Albert Bridge Language Processing to enhance and stock portfolio (20 longs, 20 shorts). team follows a bottom-up, deep-dive improve signal generation and also Sectors invested in include industrials, fundamental equity strategy with developing sophisticated internal technology, media and telecoms, the goal of generating differentiated, algorithms to improve trading and business services, medical technology, David Fear idiosyncratic returns, capitalising on execution. Previously, Dooms was and consumer companies. Greenvale superior, objective analysis; while a post-doctoral researcher at Ivy takes a very analytical approach to Founder, Managing Partner and CIO taking advantage of biases of the League college Brown University in investing, supported by real-world, Thunderbird Partners LLP consensus investor. He constructs the Providence, Rhode Island, where he hands-on primary research, data, London portfolio in a reasonably concentrated worked and researched after a PhD in and sector insights. Alongside net manner, with the top ten positions Applied Science at Belgium’s Leuven/ market exposure, Emery’s portfolio Fear launched Thunderbird in 2015, representing 65% of assets under Louvain University. management style manages exposure reportedly with $1.5 billion, which management since the strategy’s inception in April of 2008. Before spinning off the PWP platform in December of 2014, cumulative net returns in the Alpha Europe Long Simon Davies Only Fund had reached 135.9%, representing annual returns of 13.5%. Founder and CIO Sand Grove Capital Management LLP London

Davies founded Sand Grove in 2014, after eleven years at Cheyne, where he had been the Head of the Event Driven group, responsible for multiple funds. Prior to that Davies was a Vice President at Centaurus Capital, investing in both equity and credit. He began his career as an equity manager for Commercial Union twenty years ago. Sand Grove follows a Europe-oriented event-driven strategy, refined over 16 years of event driven investing, seeking to exploit idiosyncratic opportunities across the capital structure. It has a flexible and opportunistic approach with a value bias and strong Gregoire Dooms trading discipline and risk controls. In 2016 the portfolio has benefitted from a focus Product Manager on merger arbitrage, with good returns Systematica BlueMatrix particularly from some niche European Geneva mid-cap situations. Davies remains upbeat on the outlook for his strategy, given a Dooms is product manager for backdrop of heightened risk aversion which Systematica’s equity market neutral has been leading to interesting dislocations. strategy, BlueMatrix. Dooms has Regulatory filings show that Sand Grove’s been developing the strategy since he large equity positions have included St joined BlueCrest, the firm from which Jude Medical, EMC Corp, Ladbrokes, Darty Systematica Investments emerged, and Arcam. Davies graduated in Pure in 2008. The BlueMatrix strategy Mathematics from the University of Oxford. has grown assets to approximately $1.5 billion, and also offers an Irish

11 James Holloway/ Iain Buchanan

CIO/CTO and COO Piquant Technologies LLP London

Since launch in 2013, Piquant’s Pegasus strategy has generated a Sharpe ratio near one with an average correlation of 0.5 to the Societe Generale CTA Index. Piquant applies Artificial Intelligence (AI) to systematic investing. Pegasus uses machine learning algorithms to analyse thousands of signals each day, and attempts to identify market regimes. The strategy combines uncorrelated markets and uncorrelated systems. Liquid bonds, interest rates, equity indices, currencies and commodities are traded through the futures markets. Pegasus trades many different models, including carry, mean reversion, seasonality, relative value, and . Optimisation techniques, crafted to forecast volatilities, correlations and costs in addition to market direction, determine allocations amongst markets and models. Piquant built and developed its own robust, replicable, scalable cloud-based technology and back-office infrastructure with real-time risk monitoring. The manager runs approximately $160 million and envisages capacity of $2 billion. Holloway was formerly a Senior Researcher at Winton while Buchanan was a Senior Developer at Aspect Capital. Holloway graduated in Physics from Oxford University and Buchanan graduated in Computing from Imperial College.

would make it one of the largest investors exposure to a lower net day one long/short equity funds in equity long/short value with catalyst Stephen Kirk Europe. SEC 13F regulatory reports, as strategy that invests predominantly of June 2016, show that Thunderbird’s in Europe. Juntti has close to 20 Founder and Portfolio Manager largest long US-listed stock holdings years of experience as a Portfolio Pelham Global Financials have historically included Baxter Manager from both Montrica where London International Inc, FMC Corp, Microsoft he was a founding partner, and and Google. The FCA’s reports on short Citadel Investment Group where Kirk launched the Pelham Global interest show that a short position he was Managing Director and PM Financials (PGF) strategy in November in Carillion has been disclosed. Fear of European event-driven/value 2015. PGF shares infrastructure, previously spent 15 years at Ziff investing. Prior to Citadel Juntti, a such as middle and back office Brothers International (ZBI), which is Swedish national, was an Investment support, with Pelham Capital. The thought to be an investor in his fund. Director at a predecessor to Cevian, strategy invests long and short in the Thunderbird is amongst a handful the activist fund. The investment full spectrum of financial services of large new hedge funds that have team is completed by Richard Black, industry equities, in both developed spun out of ZBI since 2014. Some of William Gore-Randall, Quentin and emerging markets. It is truly Fear’s former colleagues from ZBI Dumortier and Neil McKay who have global with typical weights being have joined him at Thunderbird, Fredrik Juntti diverse backgrounds in hedge fund, 50% Europe, 30% emerging markets including Scott McDermid, who acts long only and private equity investing and 20% US. PGF implements a as MLRO, Laura Sorensen Lavers, Founder and CIO having worked at firms including research-driven investment strategy Tim Rupert and Marcus Strub. The Abberton Capital Horizon Asset Managment, THS, Bain with one dedicated trader and three COO of Thunderbird is Richard Ford, London Capital, and Goldman Sachs. Black investment professionals including who was formerly CEO of Iveagh and McKay are former colleagues Kirk. Leila Kardouche covers emerging Ltd. Guillaume Chauvin is a trader at Juntti launched the Abberton of Juntti from Montrica and Citadel markets while Cyrus Sadiq does Thunderbird, and previously worked at Opportunities Fund in 2015 with respectively. Juntti graduated with non-banks and US stocks. Over a full Goldman Sachs Asset Management. $200 million, including a long-term an MSci in Commercial Law from cycle, Kirk expects long and short Before joining ZBI in 2000, Fear was backing from Reservoir Capital Group. Stockholm University and an MSci in books to make similar contributions, an analyst at Julian Robertson’s Firm AUM has subsequently risen Financial Economics from Stockholm mimicking his track record at legendary Tiger hedge fund. to $430 million. Abberton offers School of Economics. Lansdowne, where he was a Partner

12 running part of the Lansdowne Luiz Arenzana. Ronit invests globally Financials Fund. Kirk currently sees in sovereign credit, corporate credit, scope for banks’ valuation multiples equities and currencies, with some to expand. Kirk nearly set up his focus on emerging markets and own firm before deciding to partner related areas. Misrahi has disclosed, with Pelham, founded by former in an interview with Real Vision TV Lansdowne colleague, Ross Turner in 2016, that the strategy owned put (who has featured in a previous options on Deutsche Bank, as a tail Tomorrow’s Titans survey). Before risk hedge. Before founding Ronit, joining Lansdowne, Kirk was a sell Misrahi was one of the Founding side financials analyst at Deutsche Partners of multi-strategy fund, Eton Bank and at JP Morgan. He graduated Park Capital, developing its emerging from City University. markets business while Arenzana was most recently a founding partner of Shelter Island Capital Management. Ronit Capital Partners Selvan Masil include Misrahi’s former Eton Park colleague, Matthew Fletcher, who is Founder and CIO a trader, and COO Andrew Whiting, Westray Capital Management who previously worked at Oceanwood London Capital Management. Other staff include Rodrigo Fuentes, formerly Masil launched European equity long/ of Goldman Sachs. Prior to Eton short strategy Westray in April 2014 Park, Misrahi spent thirteen years and was seeded by the Maverick at Goldman Sachs, rising to become Seed Funds, which are managed a Partner. At Goldman Sachs, he by Lee Ainslie’s Maverick Capital. co-headed the firm’s Latin American Westray, which now manages over business and built up its proprietary $130m, follows a concentrated, trading unit in Latin America. Misrahi fundamentally driven approach with graduated with a BA in Economics a focus on single stock shorts. The from Princeton University. strategy has performed well since launch with annualised performance of 12% after being up 14% in 2015 Joseph Oughourlian and up 6% in the year to September 2016. At the 2015 Sohn London Neil Phillips/ Founder, Portfolio Manager and Managing Partner conference, Masil made contrarian Jonathan Amber Capital cases for buying Rolls Royce shares London and shorting Ericsson shares, both Fayman of which turned out to be good Oughourlian founded Amber Capital in 2005. The firm manages calls. Masil is supported by three Co-CIOs value-oriented and event-driven strategies in global equity markets. investment analysts, a COO and Glen Point Capital Assets under management are around $1.5 billion. Amber has an a head of business development. London active philosophy, drawing on its expertise in corporate Before starting Westray, Masil was governance and is respected for its history of activist engagement in a Portfolio Manager at Theorema Philips co-founded Glen Point with Europe. Oughourlian is recognized as a regional expert, specifically for Partners LP. Prior to that he was a Jonathan Fayman in 2015. Glen Point his ability to navigate the legal, socio-political and cultural nuances Partner and Senior Analyst at Pelham has reportedly raised as much as $2 of the Southern European markets. Amber has led many successful Capital Management. Masil’s first billion, making it one of the largest activist campaigns, including in Nexans, SAVE and Gameloft. Amber’s hedge fund job was at Lansdowne European hedge fund launches. Glen activism can also involve sitting on boards, and in 2015 Oughourlian Partners, covering European equities. Point Capital is a global macro fund joined the board of the Spanish media group PRISA. Oughourlian Earlier, he worked in investment with a focus on emerging markets. leads a multi-national, multi-lingual team and Amber’s three Portfolio banking for Merrill Lynch and Lexicon Philips and Fayman previously Managers have worked together for over eight years. Prior to founding Partners. Masil graduated in Natural managed global macro strategies Amber, Oughourlian was a proprietary trader at Société Générale, which Sciences from Cambridge University. at BlueBay Asset Management, provided seed capital for the first Amber fund. He received an M.Sc in which closed down its macro fund Economics from the Sorbonne in Paris, and also graduated from the HEC after they departed. The BlueBay Business School and from IEP (Sciences-Po) in Paris. macro fund operated from 2009 to Edward Misrahi 2014, generating annualised returns of 8.35% and had no down years. Research and Hopewell Wood, who derivatives at Financial CIO and Founding Partner Glen Point has hired Phillips’ and was previously CEO of Colm O’Shea’s Products. Philips graduated with a Ronit Capital LLP Fayman’s former BlueBay colleague, macro fund, COMAC Capital. Before Bachelor in Commerce, including London Rodrigo Da Fonseca, as Head of Credit Strategies. Glen Point has also hired BlueBay, Philips was an emerging accountancy, and maths, from the University of Misrahi co-founded Ronit in 2013, former Credit Suisse Head of Global markets trader for Morgan Stanley. Witwatersrand. with President and Founding Partner, Macro, Sean Shepley, as Head of Prior to that, he traded interest rate

13 show that Immersion has historically Chris Rokos had short positions in construction and support services group, Carillion Founder plc, and in Home Retail Group, Rokos Capital Management which owns catalogue retailer Argos. London Immersion has hired Sidhom’s former colleagues from Ziff Brothers, such Rokos founded his eponymous firm, as Peter Wansing, Francis Yee Hong which has subsumed the assets of his Ng and James Vaughan. Partner and , in 2015. Rokos formerly COO, Jim Kandunias, earlier worked co-founded macro trading house for Legg Mason International Equities Brevan Howard, where audits show Limited; Imran Rehman was formerly he generated profits in excess of $4 at OneWall Advisors; Jamie Gray billion. Rokos Capital Management was previously at Greenhill & Co., (Rokos CM) was one of the largest and Joe Bailey joined the firm in the European launches ever, reportedly operations team from Whard Stewart. having raised $3.5 billion, including Sidhom started his finance career $500 million from Blackstone, as well as an Associate at Morgan Stanley, as Rokos’ personal capital. Rokos and graduated from the University of CM trades macro markets including Cambridge. foreign exchange, fixed income and equities. Key traders besides Rokos include his former Brevan Howard colleague, Borislav Vladimirov, and Neil Tofts Stuart Riley, erstwhile Goldman Sachs Co- Head of Asia Pacific Macro. Rokos’ Founder and CIO CEO and CRO is Nicholas Howard, Mygale Capital formerly of Barclays Investment London Bank; COO is Philip Scott, who was previously at Deutsche Bank; Tofts founded Mygale in 2015. General Counsel is David Gilbert, He runs the Mygale Event Driven ex-Brevan Howard, and Director of UCITS Fund, that launched with day Investor Relations is Mark Edwards, one investment from Old Mutual ex-Goldman Sachs. Former US Wealth’s multi asset unit. Assets Treasury official, Seth Carpenter, has have grown from $43 million to been hired as an economist. Before over $105 million currently and the forming Brevan Howard, Rokos was fund advanced 7.21% in 2016 to a proprietary trader at Credit Suisse, September. Mygale actively trades and prior to that, a proprietary trader European-focused corporate events, at Goldman Sachs. He graduated in including merger arbitrage, catalyst- Federico Riggio Mathematics from the University of driven opportunities, relative Oxford. value and special situations. They Portfolio Manager and Partner complement fundamental in-house Kairos Partners research with insights from local London broker relationships and industry Michael Sidhom specialists. Tofts uses his training The Kairos Pegasus Fund, run by Federico Riggio, launched on 1st as a derivatives trader to favour January 2014 with approximately EUR40 million of partner’s capital. Founder situations with potential positive Performance that year generated +52.99 % with 2015 returning +6.65 Immersion Capital catalysts, such as counter-bids and % and 2016 is +21% net as of October 2016. This performance has seen London trades underpinned by fundamental assets grow to over EUR450 million. The high conviction, concentrated value, rather than binary outcomes strategy pursues a soft catalyst approach to investing in special Immersion is among a number of with heavy downsides. The fund situations and aims to profit from both long and short positions. bulge bracket launches emanating continues the strategy Tofts has The Pegasus team, including five analysts, seek out misunderstood from family office Ziff Brothers, employed for over 18 years, at situations in pan-European equities markets. The strategy has where Sidhom spent nearly a decade. firms including Merrill Lynch and produced high double digit returns since its inception with limited Immersion launched in December Deephaven Capital, where he correlation to the market of reference. It had an exceptional year in 2014 with $600mm, including a established the London office in 2014, and has performed strongly again in 2016 generating alpha on sizeable investment from University 2000, and built the European Event both the long and the short side of the portfolio. Riggio has spent his of Texas Investment Management Driven and European Equity Long whole career with Kairos. He started analysing pan-European equities (UTIMCO). Immersion follows an Short businesses. Tofts started in London before joining Massimo Trabattoni to help build the Italian equity long/short strategy. SEC his career as an equity and equity equities business for Kairos. Riggio graduated in Finance from Milan’s 13F filings show Immersion’s long derivatives trader at Natwest Bocconi University and is a partner of Kairos. holdings have historically included Markets after graduating from LinkedIn Corporation, GRUBHUB, Oxford Brookes University in Business Amazon and Trupanion. UK filings Studies.

14 Guillaume Touze/ Georges Moucan

CEO & Founder/Portfolio Manager Quadra Capital Partners London

Touze, who was formerly MD of Barclays Asset Managers in Europe, founded Quadra in 2014 to pursue active, fundamental investing in transparent and liquid UCITS structures. Quadra’s first fund, a global long/short equity strategy launched in September 2015, has a high conviction, thematic approach. ‘Megatrends’ under the demographics theme include rising birth rates in Asia increasing demand for infant milk, hence the fund owns Mead Johnson Nutrition. Within the disruptive technology theme, Quadra views Osram’s light bulb technology as a game-changer whereas Apple is a short since its iPhone 7 and watch are no longer disruptive. Moucan runs the strategy, which continues the approach he followed as Head of Global Equities for Amundi in London. Between 2005 and 2013, Moucan was lead Portfolio Manager for the Amundi Global Equity Thematic Fund, which annualised at 11% while its benchmark – the HFRX Global Long Short index – was roughly flat. Quadra’s fund has been top decile in the Citywire universe in its first year. Quadra also offers an active, highly selective approach to investing in emerging market debt, and plans to develop other strategies.

ASIA

Brown previously worked for Goldman Jason Brown Sachs Asian Special Situations group Arjun Menon and rose to be Global Head of Special Founder Situations but the Arkkan team are Managing Director, Head of Asia, Arkkan Capital drawn from other firms. Investment Portfolio Manager Hong Kong professionals at Arkkan include Mohsin Highbridge Capital Management Gadit, who was previously at Saka Hong Kong Brown founded Arkkan in 2015, Capital, and earlier at the Mubadala reportedly with seed capital from Development Company sovereign Menon is a Portfolio Manager and Blackstone which also seeded another wealth fund in Abu Dhabi; Jason Lam, the Head of Asia for Highbridge fund in Hong Kong, Senrigan, whose formerly of ADM Capital; and CFA Capital Management, a leading global founder Nick Taylor featured in a charterholder, Shabad Thadani, whose firm managing previous Tomorrow’s Titans survey. prior role was at Claren Road Capital. $5.2 billion. Highbridge has a staff of Arkkan is thought to be Blackstone’s Arkkan’s COO is Adam Robinson, 200 people, including 60 investment second seed deal in Asia. Arkkan who was previously Global COO of professionals, and is headquartered follows an emerging markets special Investment Banking for Renaissance in New York with offices in Hong Kong situations strategy. This could include Capital. Michel Mathes is a trader at and London. For the past six years, instruments spanning the whole Arkkan. Brown graduated from Oxford Menon has managed Highbridge’s capital structure from equities to University and the Woodrow Wilson Asia strategy, which includes capital credit and bespoke bilateral deals. School at Princeton University. structure arbitrage, convertible

15 arbitrage, credit, derivatives and long/ short equity across Asia. Menon leads TOMORROW’S a team of 10 investment professionals based in Hong Kong who average TITANS 2016 11 years of industry experience. Highbridge Asia emphasizes a relative value, multi-strategy approach with lower equity beta than many funds in the region. The investment team is particularly optimistic about the opportunity set ahead in derivatives and long/short equity, including their ability to construct derivatives trades around their fundamental equity views, and is gradually increasing exposure in Japan. He has been with Highbridge since 2003 and has focused on Asia since joining the firm. He has been based in the firm’s Hong Kong office since 2006. Menon graduated from Brown University with a BS in Applied Mathematics and Economics.

Lyle Pakula

CIO AE Capital Melbourne

Pakula founded AE Capital in 2011. Assets are $175 million as of October 2016, including Australian fund structures, the Citi Access programme and single managed accounts. Performance has annualised at 16.7% with volatility of 9.99% between September 2012 and October 2016. The macro trading firm uses a distinctive Yuet Wei Wan approach employing systematic fundamental inputs, but also Founder and CIO selectively uses discretion to identify Wei Capital Management themes and for risk management. Hong Kong AE’s return profile has been utterly uncorrelated to conventional asset After successfully navigating many market cycles over a 15 year classes and hedge fund strategy investing career, Wan launched Wei Capital’s Pan-Asia fundamental indices. Before founding AE, Pakula was equity long-short fund in July 2015. The fund prioritizes concentrated a quantitative analyst at Australia’s and high conviction positions in secular themes. At the Sohn Hong Boronia Capital CTA. AE’s co-founder Kong conference in May 2016, Wan expressed the view that oil is a and CTO Jess Morecroft, who helped multi-decade buying opportunity and discussed their highest conviction develop the Barclays Capital BARX FX ideas. Wan is a veteran investor in emerging markets and commodity platform, is also ex-Boronia. AE’s COO, equities, having started her investing career at Oaktree Capital in New Darran Goodger, was previously COO York, where she covered mining and other industrial cyclical sectors of another Australian CTA, $2 billion at the beginning of the commodity super-cycle. In other prior roles, Kaiser Trading. Prior to entering the she was most recently a Portfolio Manager at Point72 Asia, covered investment industry, he spent his early Asia industrials for Partner Fund Management, was an Investment career as an Atmospheric Scientist and Executive at Kerry Asset Management, and was an emerging markets pursued storm chasing as a hobby. Portfolio Manager at Caxton Associates. She has BAs in Economics He received a PhD, and a Masters and Mathematics from Illinois Wesleyan University. Other Wei Capital degree, in Atmospheric Sciences, from staff include Jennifer Hsieh, formerly at BlackRock in Hong Kong, and Colorado State University, and a triple Wentao Hu, formerly an analyst at Elliott Advisers in Hong Kong. major Bachelors in Computer Science, Physics and Mathematics from Monash University.

16 TOMORROW’S TITANS 2016

IN ASSOCIATION WITH

Top View