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The 50 Leading Women in Hedge Funds 2015

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The 50 Leading Women in Hedge Funds 2015 LEADING WOMEN IN HEDGE FUNDS 2015 IN ASSOCIATION WITH LEADING WOMEN 50IN HEDGE FUNDS he Hedge Fund Journal’s 50 Leading individuals from diverse educational backgrounds Women in Hedge Funds 2015 survey, can prove themselves on the job; most of the 50 generously sponsored by EY, is now in Women finished academic study after receiving its fourth, biannual incarnation, with their Bachelor’s degree. But professional study the previous surveys having been done undertaken after university can also be a popular T in 2009, 2011 and 2013. 45 of the names choice. The MBA or Masters in Finance is still the in this survey have not featured in the previous three. most widely held postgraduate qualification, Some former surveys have emphasised the roles of with doctorates, legal, accountancy or actuarial women in senior managerial, executive, operational, As the leading global provider of services to hedge qualifications also held by some women. At least six marketing and service provider roles – and they are funds worldwide, EY is proud to sponsor the 50 Leading (12%) are CFA Charterholders and three (6%) are CAIA Women in Hedge Funds survey and to recognize the present here too. But this time we are majoring on distinguished group of women who are making their Charterholders. investment managers, with 16 (32%) of the women in mark on the industry. We congratulate all of the this survey being portfolio managers – and another honorees who have been selected by The Hedge Fund The new CFA Institute CEO, Paul Smith, argued at Journal, representing an elite group of professionals 16 being allocators to hedge funds, accounting for who are leading by example and shaping the future of the CFA Annual Conference in Frankfurt in 2015, that 64% of the survey. If alpha generation is the lifeblood the industry. the investment industry “needs to hire and promote of the hedge fund industry, portfolio managers and more women”. Hedge funds are only one subset of the EY is committed to supporting the advancement of allocators should be front and centre. women in business, and we view diversity as integral investment industry, but we think our survey (and the to the overall success of our firm. We’ve made much many nominations we received that did not appear Many portfolio manager nominations were drawn progress in securing equal opportunities for women this year) suggest that the hedge fund industry is in the workplace both at EY and around the world. from the largest managers that populate The Hedge However, according to the World Economic Forum offering a springboard of opportunity. Hedge funds Fund Journal’s US 50 and Europe 50 listings, but there Global Gender Parity Report 2014, it will take until 2095 that by their nature have a more entrepreneurial to achieve gender parity in the workplace. are also smaller managers and even some start- culture and a flat structure, contrasting with the ups here. The spread of strategies is broad: global We say it is time to accelerate change. hierarchical nature of some corporate bureaucracies, macro, systematic trading, CTAs, managed futures, may be able to offer swifter advancement. Our global campaign, Women. Fast forward, aims to discretionary commodities, equity long/short, credit, draw attention to the global gender gap issue and to distressed, emerging markets, equity market neutral, call on others to accelerate change along with us. Both the CFA Institute and the CAIA Association event driven and activism are all represented. The are amongst many organisations that have various To accelerate growth, EY recognizes the need to harness activist world may be characterised as a macho one, the potential of women entrepreneurs worldwide. Our initiatives to help women progress in the investment but we have located at least two women who have programs, on both a global and regional level, empower industry; CAIA has a scholarship programme for spearheaded activist campaigns and tenaciously women entrepreneurs to think bigger, gain access women that was taken advantage of by at least one to capital, learn from their peers and find seasoned secured shareholder value: Lauren Taylor Wolfe of advisors. These connections help their companies scale, person in this survey. Some nominees are actively Blue Harbour and Frederique Helfer of Cevian. As increasing employment and prosperity. involved in groups such as 100 Women in Hedge well as shareholder activism, one sign of women’s Funds (100 WHF) and High Water Women, and there The world economy is driven by sustainable value growing confidence is that many continue to break and business growth, which depend upon attracting, are also manifold specialist groups including those for away from larger groups and launch their own firms. optimizing and retaining all talent. Women’s women business lawyers. For instance, Leda Braga’s Systematica this year spun advancement and leadership are central to business performance and economic prosperity. It’s in every out of Bluecrest; Monica Hsiao has flown the CQS nest organization’s and every nation’s best economic We feel compelled to flag up two disclaimers. Firstly, to set up Triada; and Genevieve Kahr has left Jericho to interest to fully utilize and optimize the talents of while a handful of women in our prior surveys are not start Ailanthus. women. currently working in the hedge fund industry, most Accelerating women’s advancement is not just a of the women in the previous three surveys continue The assertion that funds or hedge funds run by women fairness argument; it’s also an economic imperative to have very strong claims to be in this one. And that creates higher growth, increased prosperity and perform better than those run by men is made by a stronger communities. It’s already been too long. We secondly, the ceiling of 50 names inevitably means number of books and studies. However, such studies aren’t going to wait 80 years to achieve global gender that we are constrained from recognising the many typically compare between 70 and 200 female fund parity, and we call upon others to accelerate their hundreds of very strong candidates, who could well efforts, too. It’s time. Women. Fast forward. managers with many thousands of male ones, leading appear in future surveys or indeed other articles. We some observers to question whether the results are also recognise that in an industry with over 10,000 conclusive. In any case, very few allocators focus funds, and hundreds of service providers, we will not exclusively on women-managed funds; even some US have received comprehensive nominations on every mandates to allocate to WMBE (Women and Minority- One essential entry ticket for the hedge fund industry woman in a senior role. Nominations come from our owned Business Enterprises) will include firms run now seems to be higher education, and some of this industry network, including prime brokers, banks, by certain ethnic minority groups and the disabled, survey’s fifty have as many as four or more degrees, lawyers, accountants, administrators, custodians, as well as by women. So we think that women fund while others began their careers in academia. But fund allocators, trade associations, and professional managers are earning allocations on their own merits not all of the women in this survey have attended associations. and are performing well in a variety of vehicles, the most expensive universities, such as Ivy League ranging from traditional offshore regulated funds such colleges in the US. Some have attended much lower- As industry assets break new records above $3 trillion, as Cayman vehicles, to onshore regulated structures cost and publicly funded universities outside the US, thousands of women worldwide are rising up through including UCITS and ’40 Act mutual funds, as well as in countries including Ireland, Russia, Indonesia, the ranks of hedge funds and are setting their sights customised managed accounts, insurance companies, the Netherlands and Norway. This shows how the on “C-suite” roles that now look more attainable than pension funds, endowments and foundations. hedge fund industry is a meritocratic one, where ever. THFJ 2 Adrienne M. Baker Marjorie Hogan Partner, Dechert LLP, Boston CIO, Managing Member, Founder, Portfolio Manager, Altum Capital, New York City Betsy L. Battle Monica Hsiao Chief Investment Officer, Lone Peak Partners, New York City CIO and Founder, Triada Capital Management, Hong Kong Leslie D. Biddle Denise Hu Partner, Serengeti Asset Management, New York City Founding Partner and Chief Investment Officer, Archer Asia – Rockhampton Management Limited, Hong Kong Darcy Bradbury Managing Director and Director of External Affairs, The D. E. Shaw Group, New Genevieve Kahr York City Founder and Managing Partner, Ailanthus Capital, New York City Leda Braga Kathryn Kaminski Chief Executive Officer and Founder, Systematica Investments, Geneva Director, Investment Strategies, Campbell & Company, Inc., Baltimore, Maryland Stephanie R. Breslow Polina Kurdyavko Partner and Co-Head of SRZ’s Investment Management Group and a member of Partner, Senior Portfolio Manager, BlueBay Asset Management LLP, London the firm’s Executive Committee, Schulte Roth & Zabel LLP, New York City Elaine F. Mann Anne Casscells Partner and Chief Operating Officer, The Baupost Group L.L.C., Boston Co-Founder, Co-President, and Chief Investment Officer, Aetos Capital, San Francisco Roxanne Martino Partner, Chief Executive Officer, Investment Committee Chairperson, Aurora, Chicago Jo Cunningham Partner, Maples and Calder, Cayman Islands Michelle McCloskey Senior Managing Director, Man FRM, New York City Dahlia Dana Managing Director, Tekne Capital, New York City Youlia Miteva Managing Member, Proxima Capital, New York City Effie K. Datson Global Head of AIS Product Management, Senior Managing Director, State Street Lisa O’Connor Alternative Investment Solutions, London Head of Global Macro Portfolio Management, State Street Global Advisors, San Francisco Bay Natalie Deak Jaros Partner, EY, New York City Rebekah Pang Head of Capital Introductions – Asia, Alternative Investment Solutions, Societe Kelsey L.
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