gaim

Catch conference call with Washington–based Jennifer Johnson Calaris, Head of the World Bank’s Sovereign Wealth Group. It appears that what (Western democratic) states are really afraid of is less democratic states such as China, Russia or Saudi Arabia - with increasing amounts of sovereign wealth, using their clout as political shareholder activists. Which is why she says countries like Germany are (controversially) trying to close the door and pass laws against investment by them… And then understandably get accused of double standards when they let hedge funds free reign…”Our job is to try and understand how the sovereign wealth is evolving and work with the states to come to a consensus over the financial structures needed to manage and disperse it effectively – and safely. While current figures are relatively small it is the rate of accumulation that creates the challenge and the potential imbalances they could create”. Meaty stuff with lots more on the boil.

Over to Park Avenue where with the quest to attract and keep exceptional talent underpins the alternatives industry I meet up with Maureen Brille, MD, The Gerson Group, strategic recruitment, in the hedge fund space. Optimistic, she thinks things are going to look very different come January – “We expect to see a flurry of new hirings, many more strategic initiatives and collaborations and much more deliberation about the optimum size and structure of successful global hedge fund operations. Favourite thinking spot? “Winter’s crashing surf and piping plover at Bridgehampton’s beach NY”.

Caught up with long-time Gaim friend, and another sometime guitarist, Andy Weisman, now CIO Hedge Fund Businesses Portfolio at the Hedge Fund Development Management Group, Merrill Lynch Investment Management. His market concern and research focus is currently how to adjust a portfolio of liquid and illiquid allocations in an increasingly correlated market place across all the asset classes. That’s the key, and he directed me to a new paper on the IAFE website. Andy’s inheritance track? Even if he plays second fiddle to his guitar it’s– “Bach’s Sonatas and Partitas for Solo Violin - Elemental, beautiful, challenging yet gratifying to play”.

This entry was posted on Wednesday, November 21st, 2007 at 7:12 pm and is filed under liquid allocations, Gerson Group, best thinking spots, shareholder activists, The World Bank. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.