Welcome & Opening Comments

Kelly Holmes is Vice President, Consultant Relations for TIAA Global Asset Management. She is responsible for enhancing relationships with and service to institutional investment consultants in the Midwest, New England, and Canada. Ms. Holmes joined the TIAA organization in 2011. Prior to this, she was a Vice President, Client Services and Sales at Matthews International Capital Management, LLC where she maintained and expanded relationships with the institutional investment community including consultants, retirement plans, corporations and endowments. Previously, she was Vice President, Strategic Marketing and Vice President, Consultant Relations at Loomis, Sayles and Company, LLC where she provided product management in support of overseas business development, and maintained and expanded relationships with institutional investment consultants in the Midwest. Ms. Holmes holds a B.A. from the University of Massachusetts. She is a member of World Affairs Council, Women Investment Professionals, and Chicago Investment Professionals.

Keynote

Richard "Dick" Charlton's investment experience dates back to 1972, when he initiated Michigan Bell’s Pension Oversight District in anticipation of the oversight requirements of ERISA. Dick also prepared financial regulatory testimony, and wrote his master's seminar on pension fund performance evaluation. He was elected Assistant Treasurer in February 1976, overseeing the financial modeling, market research, economics, pension, and math research districts.

After an assignment at AT&T, Dick joined Merrill Lynch Capital Markets in 1981, assuming the investment consulting responsibility for over $25 billion in assets. With Merrill Lynch's decision to leave the institutional investment consulting market at the end of 1985, Dick formed his own firm, New England Pension Consultants, now “NEPC, LLC,” converting 100% of his clients in the process. During the ensuing 30 years, NEPC has become one of the largest and most well-known investment consulting firms in the industry.

NEPC pioneered the use of alternative assets, making its first placement in 1988. Our work in that regard was recognized in 2016 when Acquisition International accorded NEPC a hedge fund award, in 2015 when Wealth & Finance International accorded NEPC two Alternative Investment Awards; in 2012 when InvestHedge accorded NEPC its Investor Excellence Award in the Consultant category; and, in 2009 when PLANSPONSOR accorded NEPC its prestigious “Alties” Award as the Alternative Asset Consultant of the Year. NEPC also received CAIA Association’s inaugural CAIA Corporate Recognition Award in 2012 and CIO’s Industry Innovation Award in the Investment Consulting category in 2013 and 2011. NEPC’s clients have also won numerous awards, including CIO’s Industry Innovation Awards, Institutional Investor’s Intelligence Awards, and Money Management Intelligence’s Public Pension Fund Awards.

Dick has been influential in shaping NEPC’s impact investing capabilities, including mission-related and Environmental, Social and Governance (ESG) principles based on a deep understanding of the role that these factors can play in many investment programs.

Dick is a frequent speaker at national industry conferences and seminars. He also served as the Co-Chairman of the Consultants Performance Presentation Standards Task Force, a two-year effort by the investment consulting industry to develop standards for performance documentation, presentation and disclosure. He is also a past director of IMCA, the Investment Management Consultants’ Association. In 2013, Dick was honored at NASP-Detroit’s 7th Annual Encore Gala as the recipient of their “Measure of Excellence” Award.

Dick’s undergraduate degree is in Mechanical Engineering from the University of Detroit (1965), and his M.B.A., with emphasis in Statistics and Finance, is from Wayne State University (1972).

Closing Keynote

Mike Ryan serves as Managing Director and Head of Hamilton Lane's Research Group, focused on analyzing private asset investment strategies and market trends. The group's work informs portfolio construction and risk assessment for institutional private markets portfolios.

Prior to joining Hamilton Lane in 2008, Mike was a Principal at Capital Z Investment Partners, where he was responsible for sourcing, evaluating and structuring Capital Z’s hedge fund and private equity fund investments. Previously, Mike worked in the Technology Investment Banking and Real Estate Investment Banking groups at Merrill Lynch.

Mike received a B.A. in Economics and Computer Science from Williams College. He also is a CFA charterholder.

Moderator

Steve Case is a Partner in the New York office of Mercer’s Investments business. He joined the firm in 2008 and serves as a generalist investment consultant for large institutional investment clients. Steve’s 30+ year institutional investment career includes experience as an investment consultant, plan sponsor and investment manager. He has over 25 years of investment consulting experience, working as the practice leader at Evaluation Associates and as a senior consultant for Rogers Casey prior to joining Mercer. He also served as an investment analyst for the AT&T pension investment team, oversaw the sub-advisory and pension assets of AXA Financial / Equitable and served as the manager of the strategic relationship team at Putnam Investments. He was recently selected as one of the 25 most influential investment consultants in the world by Chief Investment Officer magazine. Steve earned Bachelor in economics from Occidental College and an MBA in finance from Dartmouth’s Amos Tuck School of Business. He is a CFA® charterholder.

Speaker

Tod Trabocco, CFA, is a Managing Director at Cambridge Associates based in Boston. He oversees the firm’s private credit efforts, performing due diligence on investment opportunities in private equity, credit, and distressed markets, as well as monitoring investment firms and their portfolio companies. Tod co-chairs Cambridge Associates’ Credit Investment Research Committee and co-leads the firm’s Credit Investment Group which focuses on manager research and selection and provides specialized credit services to clients.
Before joining Cambridge Associates, Tod was a Managing Director with Kayne Anderson Capital Advisors in New York, where he implemented best-in-class portfolio reporting and monitoring practices for Kayne Anderson’s middle market mezzanine strategy.  Previously, he was a Managing Director at LBC Credit Partners, Inc., where he started and led LBC’s research and underwriting practices, and was a member of the firm’s Investment Committee. He also was Vice President and Senior Analyst at Moody’s Investors Service where he developed a new quantitative scoring method for state-level issuers.

Education and Professional Credentials 

  •  CFA Charterholder
  •  MBA, Columbia Business School
  •  MALD, development economics, The Fletcher School, Tufts University
  •  BA, government, Pomona College

John Robinson is a Senior Managing Consultant in PFM Asset Management. He has more than 20 years of global institutional financial services and capital markets experience. He has held senior management, investment consulting, marketing and product development roles in the private and public sectors. Mr. Robinson is a former board member of the District of Columbia Retirement Board and Pan-American Development Foundation. Mr. Robinson holds a Bachelor of Science degree in Business Administration from Indiana University of Pennsylvania and a Master of Business Administration from Kennesaw State University. He is a member of the Association of Financial Professionals, holds the Certified Treasury Professional (CTP) designation and is a Chartered Alternative Investment Analyst Level II candidate.

Mark Brubaker is the Head of Wilshire’s OCIO Solutions Group. He joined Wilshire in 1997, originally serving as investment consultant to large corporate, endowment and public fund clients. Mr. Brubaker is also a member of the Wilshire Board of Directors, the Wilshire Consulting Investment Committee and the Wilshire Manager Research Oversight Committee. Prior to joining Wilshire, he worked at Westinghouse Electric Corporation, where he was responsible for over $9 billion in defined benefit, defined contribution and foundation assets. He also worked in the Investment Management and Trust Division of PNC Financial. He earned a B.A. in Economics from Yale University and an M.B.A. from Carnegie Mellon University. Mr. Brubaker holds a Chartered Financial Analyst designation and is active in the CFA Society of Pittsburgh.

Pete Keliuotis is a Senior Managing Director of Cliffwater LLC in our New York office and a member of our portfolio advisory team. Prior to joining Cliffwater in 2014, Pete was a Managing Director and CEO of Strategic Investment Solutions where he led the general and private markets consulting teams and consulted to several large institutional investors. Previous experience includes working as a principal and senior consultant at Mercer Investment Consulting and working at Hotchkis and Wiley and Northern Trust Company. He earned a BS in Economics from the University of Illinois at Urbana-Champaign, his MBA in Analytic Finance from the University of Chicago Booth School of Business, and holds the Chartered Financial Analyst® designation.


Roger Fenningdorf, Head of Global Manager Research, is a founder and Partner of Rocaton. Roger is responsible for setting the firm’s manager research agenda and also spends a significant amount of his time researching hedge fund and U.S. equity strategies and managers. Roger joined Rocaton in 2002 after 8 years at Barra RogersCasey where he served as Managing Director, Head of Global Manager Research, and served as portfolio manager for two fund of funds strategies. Roger is a holder of the CFA designation and a member of the CFA Institute and the Stamford Society of Financial Analysts. Roger earned an M.B.A. in Finance and International Business from Yale University School of Management and a B.A. in Economics from Tufts University.

Organizers

Sovereign Wealth & National Pensions Funds Bios

Deepika Sharma, CFA, is a Portfolio Manager and Managing Director of Investments at Astor Investment Management LLC, a nearly $2bn quantitative global macro asset manager, which was previously a subsidiary of Knight Capital Group. As a member of the Investment Committee, she assists with the management of Astor’s multi-asset and global macro strategies and reports directly to the Chief Investment Officer. She previously worked on the Fixed Income Proprietary Trading Desk at Nomura, as well as in macro-strategy at Roubini Global Economics. Ms. Sharma began her career as an Analyst on the Structured Credit desk at Lehman Brothers. Ms. Sharma is an active volunteer at the New York Society of Security Analysts (NYSSA) and was recognized with the NYSSA Young Investment Professional Award 2015, Volunteer of the Year Award 2016 and the Asset Owner Series Award 2016. Ms. Sharma holds a Masters in International Finance at Columbia University, is a CFA charterholder and holds FINRA Series 3 and 65 licenses.

Thomas Brigandi is an associate analyst in the Global Project and Infrastructure Finance Group at Moody's, where he covers public power, power generation projects, toll-roads, airports, ports, project finance and public-private partnerships, across the Americas. Brigandi also serves on Moody's public pension task force. In the past, Brigandi worked at the US$150 billion NYC Pension Fund, where he focused on the energy and natural resources sectors and reported directly to the chief investment officer. Brigandi, the New York Society of Security Analysts (NYSSA) 2015 Volunteer of the Year and 2013 Young Investment Professional Award recipient, has organized over 30 NYSSA conferences that were attended by over 5,000 investment professionals, in addition to over 200 speakers who collectively and directly oversee north of US$5 trillion. Additionally, while serving as the Vice President and Director of Global Volunteers of the American Foundation for African Children's Education, Brigandi was the lead organizer of the NASDAQ Closing Bell Ceremony on September 23, 2011, hosted for the President of Sierra Leone, Dr. Ernest Koroma. Brigandi has cultivated personal relationships with thousands of asset owner, buy-side & sell-side investment professionals globally and maintains over 7,000 connections ‎on LinkedIn.

Patrick Holert, CFA, CAIA, is vice president and research principal for BBVA Securities, where he oversees research compliance in the US, and research operations in the US, Latin America, and Europe. In the past, Holert lived in Asia for many years and has served as an equities analyst for Nomura Securities in Thailand and Korea, an investment manager for a frontier private equity fund covering the Mekong region, and a consultant on projects in the Middle East, India, and across Southeast Asia. He specialized in finance at the University of Chicago Booth School of Business and has a BA in economics and mathematics from Claremont McKenna College. Holert is serving as Chairman Emeritus of the Global Investing Committee at NYSSA, and is on the Board of Directors at NYSSA.

Rongbiao Fu, CFAis a Senior Investment Analyst at Horizon BlueCross BlueShield of New Jersey, a $9 billion health insurance company, where he oversees and manages the reserve, pension, and foundation investment portfolios of the company and its subsidiaries, which total over $4 billion in assets. Rongbiao also sits on the company’s Investment Committee. Prior his current role, he worked as an Associate in portfolio management at Olympus Capital Asia, a $1billion middle market private equity firm specializing in investments in Asia. Rongbiao earned his BA in Finance and Investments from Baruch College.

Robert Discolo, CFA, CAIAis Executive Vice President, Investments, at Permal Group, a role that encompasses the asset management team and investment processes, working alongside the Chief Investment Officers, as well as proprietary research capabilities. He is also a member of the Group’s Global Investment Committee. Mr. Discolo joined in 2015, having previously spent 14 years working at PineBridge, where he was Managing Director and Head of Hedge Fund Solutions Group, ultimately responsible for managing proprietary and client assets in hedge funds and other alternative asset classes. Prior to joining PineBridge, Mr. Discolo spent seven years at Bank Julius Baer where he was head of the Public/Private Funds Group, and before that was at Merrill Lynch in Partnership Financing, having started at Drexel Burnham Lambert in their Fund Services Group. He has authored and co-authored several papers on alternative investing and is a frequent speaker at alternative investment conferences. Mr. Discolo is a CFA® Charterholder and holds an M.B.A. from Pace University, Lubin School of Business, New York, and a B.S. from St John’s University, Jamaica, New York.

Chris Cutler, CFA, is founder of Manager Analysis Services, a hedge fund consultant for institutions, funds-of-funds and high-net-worth individuals.  Since launching in 2003, MAS has reviewed more than 1,500 hedge fund managers representing every strategy in the asset class.  In addition to hedge funds, Cutler has analyzed traditional equity, fixed income and private equity managers as well as individual private equity and venture capital investments. Prior to founding MAS, he worked for Deutsche Bank from 1994 to 2003, cofounding a specialized fixed income derivatives product, marketing over-the-counter interest rate derivatives and developing structured financial products.  From 1988 to 1994, he worked as an emerging markets economist and bank regulator for the Federal Reserve Bank of New York. Cutler earned his MBA in finance from the New York University Stern School of Business and BA in economics from the University of Chicago, where he was a member of Beta Gamma Sigma.  As chair of the New York Society of Securities Analysts’ Alternative Investment Committee from 2005 to 2007, he created the Alternative Analysts’ Forums.

Jae Yoon, Chief Investment Officer of New York Life Investment Management, joined NYLIM as a managing director in 2005. He most recently served as the CIO of the Strategic Asset Allocation and Solutions group. Previously, he was responsible for risk management efforts at boutique affiliate MacKay Shields. Prior to joining NYLIM, Mr. Yoon was head of Quantitative Research, Analytics, and Risk Management at Western Asset Management. Previous roles include serving as head of Risk and Performance for the EMEA-Pacific regions of Merrill Lynch Investment Managers and regional head of Risk Management Control for Fixed Income and Equity Derivative Trading at J.P. Morgan Securities in Asia. Mr. Yoon earned his master’s degree in Operations Research and bachelor’s degree in Electrical Engineering from Cornell University. Mr. Yoon is a CFA® charterholder and holds FINRA Series 3 and 7 registrations.

Closing Remarks

Jonathan Prin, CFA, is a Managing Director and Partner at Greylock Capital. Prior to joining Greylock Capital, he was a portfolio manager and member of the Global Fixed Income Group at JP Morgan Asset Management. At JP Morgan, Mr. Prin was responsible for managing and trading emerging market high yield corporate debt portfolios. Prior to joining JP Morgan in 2008, he spent three years as a credit analyst at Bear Stearns Asset Management, specializing in high-yield credits and international financial institutions. Previously, Mr. Prin was a research analyst in the Leveraged Finance Department of Credit Suisse First Boston, as part of an Institutional Investor-ranked group specializing in the publishing and media sectors. He began his career at M&T Bank Corporation, where he worked as a credit analyst in the bank’s Special Asset Group. Mr. Prin received his B.A. in Economics and Classical Studies from the University of Pennsylvania in 2002. He received his CFA charter holder designation in 2009.

  
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