Home > 125 Events > The 2007 Wharton Economic Summit
The 2007 Wharton Economic Summit ::
Panels
| Hedge Funds: Outlook for the Industry |
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Moderator: Christopher Geczy, Assistant Professor of Finance Panelists: Craig W. Effron, Raymond Iwanowski, Traci Lerner, Barry S. Rosenstein, Joseph F. Scoby |
| Thursday, April 12 - 3:00 p.m.-4:15 p.m. :: Full Summit Schedule |
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Hedge funds are the fastest growing, controversial, and possibly the most influential players in the investment landscape -- one populated by scores of present and future Wharton graduates. This panel will explore dominant trends in the industry with some of the best-known figures in the hedge fund world. We will discuss the hottest strategies and ideas, and address the question of whether sectors are emergent or in decline. Panelists will also explore what is and will be the effects of increased competition, whether systemic risk has paralleled growth in the industry, and where the risk hot spots are. Topics range from whether hedge fund investments are right for all investors and whether the "convergence" of private equity and hedge funds will continue to whether regulators are still targeting the industry. |
| Panelists |
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:: Craig W. Effron , W'81
Managing PartnerScoggin Capital Management Craig Effron is the chief executive officer and founding partner of Scoggin Capital Management, a hedge fund that was established in 1988 and manages in excess of three billion dollars for institutional and high net worth investors in the United States and abroad. Scoggin primarily invests in event-driven situations such as bankruptcies, mergers and spin-offs. The Fund has produced in excess of 17% net returns to its partners since inception. Mr. Effron serves on the financial aid overseer's board at the University of Pennsylvania. He received a BS in economics from the Wharton School at the University of Pennsylvania in 1981. |
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:: Raymond Iwanowski , C'88, W'88
Managing Director; co-CIO, Quantitative Strategies Goldman Sachs Group, Inc. Raymond J. Iwanowski is co-chief investment officer of the Quantitative Strategies team within the Investment Management Division of the Goldman Sachs Group, Inc. He has worked in this capacity since 1998, having joined the team in 1997 as a portfolio manager. Mr. Iwanowski became a partner in 2004 and a managing director in 1999. Prior to joining the firm, he was head of the Fixed Income Derivatives Client Research Group and a member of the Bond Portfolio Analysis Research Group at Salomon Brothers from 1993 to 1996. At Salomon, he authored a number of publications on fixed income asset allocation and fixed income derivatives. Mr. Iwanowski has published articles in The Journal of Portfolio Management (Summer 1996) and The Journal of Fixed Income (September 1997), and contributed a chapter to the book Fixed Income Solutions. He worked at First Boston from 1988 to 1990 in the Fixed Income Portfolio Strategies Group, specializing in asset-liability issues for banks and thrifts and valuation of mortgage-backed securities and their derivatives. Mr. Iwanowski earned a BS and BA from the University of Pennsylvania in 1988 and an MBA from the University of Chicago. He also reached candidacy in the PhD program in finance at the University of Chicago. |
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:: Traci Lerner , W'81
PartnerChesapeake Partners Traci Shanbrun Lerner founded Chesapeake Partners in 1991 to invest institutional and individual assets in extraordinary corporate events such as merger and acquisition transactions, bankruptcies, and reorganizations. Ms. Lerner oversees all aspects of research and trading in the management of the firm's portfolio. Previously, from 1982-1991, she was with Dillon, Read & Co. where, as senior vice president, she managed the firm's investments in risk arbitrage, bankruptcy, and reorganization investments. Prior to joining Dillon, Read & Co., Ms. Lerner was employed as a research analyst in the mergers and acquisitions department at Citicorp, where she worked on a variety of public and private transactions. Ms. Lerner is active in a variety of communal organizations. She serves on the investment committees of the Johns Hopkins Hospital, the Kennedy Krieger Institute, Loyola College in Maryland and the Park School of Baltimore. Ms. Lerner currently serves as a director on the boards of the Associated Jewish Charities, Johns Hopkins Medicine, the Kennedy Krieger Institute, KIPP Baltimore, Inc., the Undergraduate Executive Board of the Wharton School of the University of Pennsylvania and the Wilmer Ophthalmological Institute Advisory Council. Ms. Lerner and her husband, Mark, a co-founder of Chesapeake Partners, are currently co-chairs of the Johns Hopkins Children's Center Advisory Board and are spearheading efforts to raise more than $100 million needed to build a new Children's and Maternal Health Hospital. Ms. Lerner graduated in 1981 from the Wharton School of the University of Pennsylvania. She and her husband have four children. |
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:: Barry S. Rosenstein , WG'84
Founder/Managing PartnerJana Partners LLC Barry Rosenstein is the founder and managing partner of JANA Partners LLC, a hedge fund managing over $6.5 billion in assets with offices in New York and San Francisco. Since inception, funds managed by JANA have produced annualized returns in excess of 23%, far exceeding their relevant benchmarks. JANA is also a recognized pioneer in the field of shareholder activism. Notable activist successes include partnering with Carl Icahn to cause Kerr-McGee Corp. to sell underperforming assets and recapitalize, and resulting in the ultimate sale of the company at a price of nearly three times JANA's cost. Other activist victories include bringing about transformational change, preventing value-eroding actions or otherwise maximizing shareholder value at Artesyn Technologies, Deutsche Bourse, Houston Exploration Company, Herbalife, InterCept, Inc., Siebel Systems, SourceCorp, Time Warner, Titan International and other companies on a public basis or through working with boards and managers behind the scenes. Prior to establishing JANA, Barry was the founder and managing partner of Sagaponack Partners, a private equity fund. Before this, he founded and headed Genesis Merchant Group's investment and merchant banking group. He also formed and acted as managing partner of Reatta Partners, a transaction-specific investment partnership. Prior to that, he was a principal in charge of corporate takeovers for Asher Edelman's Plaza Securities Corporation. Barry began his career as an investment banker specializing in mergers and acquisitions with Merrill Lynch in New York. Barry graduated from Lehigh University (1981) Phi Beta Kappa and earned an MBA from the University of Pennsylvania's Wharton School (1984). He is also a CPA. |
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:: Joseph F. Scoby , W'87, G'87
Global Head of Alternative and Quantitative InvestmentsUBS |
