6/12/2009 8:56:34 AM 1 Produced by:

WEDNESDAY, JUNE 17, 2009

2:00 PM – 5:00 PM

Garden Room PLAN SPONSOR ‘ONLY’ EMERGING MANAGER INTENSIVE

Plan Sponsors are facing critical issues. Many have target returns and fixed asset

allocation levels but chaotic market conditions have made meeting and adhering to

those allocations incredibly challenging. At the same time, many believe steep declines

in asset prices is creating unparalleled investment opportunities with attractive long-

term returns—yet pursuing those may not be possible given agreed upon investment

mandates. How can emerging managers pursue opportunities and help plan sponsors

achieve their goal? Which asset classes are likely to experience resurgence, and which

will follow market volatility? This session will discuss ways to develop a strategic plan to

take advantage of various opportunistic investment options as they become available.

This three hour "intensive" session will provide a rare opportunity for investment staff

and trustees from public and private pension funds, endowments, foundations and

union funds to meet and share candid perspectives on issues they are facing within the

current environment. The conversation will be fast-paced and info-packed, all with the

goal of expanding your management of key issues, including how emerging manager

programs can factor in to your investment strategy.

2:00 PM – 2:30 PM Welcome:

RG & Associates, Inc. – Renae Griffin, CMP, Principal

Introductions:

Vista Equity Partners – Martin Taylor - Operating Principal

UCLA Anderson School of Management - Alfred E. Osborne, Jr., Ph.D., Senior Associate

Dean

Economic Report and Forecast

UCLA Anderson Forecast - Edward E. Leamer, Ph.D, Director

2:30 PM – 3:30 PM The New Financial Market Model

Discussion of key issues that affect institutional investors.

• Liquidity and the credit markets

• Governance issues – Compensation, Clawbacks, etc...

• Focus on Alternatives Model – Hedge Fund / Private Equity

• New operating bylaws – A move away of placement agents and intermediaries

PROGRAM OUTLINE

SLS Hotel at Beverly Hills

465 S. La Cienega Blvd.

Los Angeles, CA

Co-Sponsored by:

Interlink Asia Ltd.

Vista Equity Partners

6/12/2009 8:56:34 AM 2 Produced by:

• New ideas about Asset Allocation: Are they relevant, what new model might

work, risk management

• Manager Selection and Monitoring – Changing the Filter: Fund selection /

criteria – from AUM, team composition, rate of returns. Due diligence in

regulated and non-regulated sectors

Facilitator:

Employees' Retirement Fund of the City of Dallas – Cheryl Alston, Executive Director

Speakers

� GE Asset Management – James Mitchell Jr., Managing Director

� Pension Consulting Alliance, Inc. – Allan Emkin, Managing Director

� Teacher Retirement System of Texas – Lee Partridge, Deputy Chief Investment

Officer

� Wilshire Associates – Andrew Junkin CFA, CIMA, CAIA, Managing Director

3:45 PM – 4:30 PM Insights into the Global Economy – Exploring the World of the Global Investor

Facilitator:

Interlink Asia Ltd. – Shezad Rokerya, Chairman

Speakers:

� City of San Jose Retirement Services - Carmen Racy-Choy FSA, FCIA, MBA, CAIA,

Chief Investment Officer

� Employees' Retirement Fund of the City of Dallas – Cheryl Alston, Executive

Director

� Korea Investment Corporation – Sung Hwan Shin Ph.D., Steering Committee

Member

� StepStone Group, LLC – Monte Brem, Chief Executive Officer

4:30 PM – 5:00 PM Rethink & Reorient

Facilitator:

UCLA Anderson School of Management - Alfred E. Osborne, Jr., Ph.D., Senior Associate

Dean

� Small group breakout sessions to explore key issues more in-depth

� Closing Remarks & Business Card Exchange

PLAN SPONSOR “ONLY” PARTICIPANTS TO-DATE

Alameda County Employees’ Retirement Association

Boeing Company

California Public Employees’ Retirement System

City of Chicago Treasurer’s Office

City of Oakland Police & Fire Retirement System

City of San Jose Retirement Services

Cook County Annuity & Benefit Fund

City of Detroit Retirement Systems

Employees' Retirement Fund of the City of Dallas

GE Asset Management

6/12/2009 8:56:34 AM 3 Produced by:

Howard University Endowment and Retirement Fund

Illinois Teachers’ Retirement Systems

Kaiser Permanente

Korea Investment Corporation

Los Angeles City Employees’ Retirement System

Los Angeles County Employees’ Retirement

Los Angeles Fire & Police Retirement System

MetLife Real Estate Investments

Mingei International Museum Foundation

New Jersey Division of Investment

NYC Office of the Comptroller

Office of Manhattan Borough President Scott M. Stringer

Orange County Employees’ Retirement System

Rensselaer Polytechnic Institute

San Francisco Employees’ Retirement System

Small Business Investment Company (SBIC) Program

State of Ohio Office of the Treasurer

Texas Permanent School Fund

Teacher Retirement System of Texas

Virginia Retirement System

The Walt Disney Company

University of California, Office of the Treasurer of the Regents

Washington State University Endowment

W.K. Kellogg Foundation

6/12/2009 8:56:34 AM 4 Produced by:

WEDNESDAY, JUNE 17, 2009

2:00 PM – 5:00 PM PLAN SPONSOR ‘ONLY’ EMERGING MANAGER INTENSIVE

Garden Room

6:00 PM – 7:00 PM PLAN SPONSOR “ONLY” INTENSIVE RECEPTION

Garden Terrace Special Guests:

City of Chicago – Stephanie Neely, Treasurer

State of Ohio – Kevin L. Boyce, State Treasurer

7:00 PM – 8:30 PM GENERAL WELCOME RECEPTION

Garden Terrace NEW PEOPLE: Celebrate our move to Los Angeles and the start of the 6th

annual

gathering. The evening is a perfect opportunity to reconnect with peers and meet new potential

partners before the main event.

Special Guests:

City of Los Angeles – Mayor Antonio Villaraigosa (pending)

City of Chicago – Honorable Stephanie Neely, Treasurer

State of Ohio – Honorable Kevin L. Boyce, State Treasurer

THURSDAY, JUNE 18, 2009

7:00 AM – 2:00 PM REGISTRATION

Ballroom Foyer

7:30 AM – 9:00 AM PLENARY BREAKFAST

Ballroom

Welcome:

RG & Associates, Inc. – Renae Griffin, CMP, Principal

Introductions:

Parish Capital Advisors, LLP – Wendell McCain, Partner

PROGRAM OUTLINE

Co-Sponsored by:

Credit Suisse

Parish Capital Advisors, LLP

Co-Sponsored by:

AVP Advisors, LLC

Shamrock Capital

Advisors, Inc.

SLS Hotel at Beverly Hills

465 S. La Cienega Blvd.

Los Angeles, CA

SLS Hotel at Beverly Hills

465 S. La Cienega Blvd.

Los Angeles, CA

6/12/2009 8:56:34 AM 5 Produced by:

Opening Remarks:

State of California – Honorable John Chiang, Controller

NEW PERSPECTIVES: FROM THE FRONTLINE: Top Pension Plans Share Insights &

Perspectives

Top investment professionals from the nation’s prominent pension plans will share their

insights on the current environment, including a detailed look at how their strategies

and approaches to managing risk and generating returns has shifted. We’ll explore

current conditions and what’s ahead for the remainder of 2009, including market

scenarios and how they will impact plan sponsors, emerging managers, fund of funds

and others. Our session facilitator will be focused on driving a lively session.

Facilitator:

Credit Suisse Customized Fund Investment Group – Kelly Williams, Managing Director

Speakers:

• CALPERS – Joseph Dear, Chief Investment Officer

• City of Chicago – Honorable Stephanie Neely, Treasurer

• Kaiser Permanente – Kaiser Permanente – William D. Lee, CFA, Chief

Investment Officer, VP Pension & Investments

• Los Angeles County Employees’ Retirement Association – Lisa Mazzocco, Chief

Investment Officer

• State of Ohio – Honorable Kevin L. Boyce, State Treasurer

9:00 AM – 9:15 AM BREAK

CONCURRENT SESSIONS -

TOPICAL

SESSION 1: CHANGE = OPPORTUNITY – Uncovering Opportunities in a Changing

Garden Room Economy

As we continue to face unprecedented economic times, what impact will shifts and

regulatory changes have on emerging managers? How will emerging managers

effectively reach and communicate their track record and investment focus to the plan

sponsor community? What opportunities are emerging out of adversity, and how can

firms best position themselves to capitalize on the changing environment?

Moderator:

Palladium Equity Partners, LLC – Marcos A. Rodriguez, Managing Director & Founder

9:15 AM – 10:15 AM

NEW POSSIBILITIES: Focused sessions and networking exchanges are designed to make

the most of your day. The first track of small group sessions provides an opportunity to

exchange best practices around investment strategies and operational issues, with the

second track focused on concurrent sector discussions.

Sponsored by:

Palladium Equity Partners,

LLC

Sponsored by:

Ariel Investments, LLC

Axel Capital Management, LLC

FIS Group, Inc.

MERCER

6/12/2009 8:56:34 AM 6 Produced by:

Speakers:

• Emerging Manager Monthly – Matt McCue, Editor

• Centinela Capital Partners, LLC – Robert Taylor, Founding Partner

• Los Angeles City Employees’ Retirement System – Moctesuma Esparza, Board

Member

• Orange County Employees’ Retirement System – Richard White, Board Member;

SACRS, President

• Virginia Retirement System – Robert Greene, Trustee

SESSION 2 GLOBAL MARKETS – From Europe, Africa, Asia and Beyond

George Room With unprecedented market shifts come unprecedented opportunities. And today,

many of the most promising investment opportunities are overseas. Our discussion will

focus on how investors are creating global portfolios—where they see opportunities in

emerging markets, how they evaluate options and balance their portfolio decisions.

Moderator:

Keyhaven Capital Partners Ltd. – Sasha van de Water, Managing Partner

Speakers:

• Asia Alternatives, LLC– Laure Wang, Co Founder and Managing Director

• Korea Investment Corporation – Sung Hwan Shin Ph.D., Steering Committee

Member

• Rensselaer Polytechnic Institute – Wale’ F. Adeosun, CFA, Treasurer & Chief

Investment Officer

SESSION 3 MANAGING ASSET ALLOCATIONS: The Denominator Factor

Cornelius Room With strong commitments to emerging managers and established allocations to various

sectors, many plan sponsors, foundations and endowments are facing difficult choices

as fund values shift. Navigating this new terrain represents a tremendous challenge, and

rare opportunity—and a move into unchartered issues. We’ll examine how the nation’s

top plan sponsors are addressing current and future asset allocations. And how a

growing number of investors are reshaping investment partnership agreements and

operating bylaws to address current and future market shifts.

Moderator:

ICV Capital Partners, LLC – Willie E. Woods, Jr. President & Co-Founder of ICV Partners

Speakers:

• Orange County Employees’ Retirement System – Steve Delaney, Chief

Executive Officer

• Teacher Retirement System of Texas – Lee Partridge, Deputy Chief Investment

Officer

• Wilshire Associates – Andrew Junkin CFA, CIMA, CAIA, Managing Director

10:15 AM – 10:45 AM BREAK

Sponsored by:

ICV Capital Partners,

LLC

Sponsored by:

Robinson Bradshaw & Hinson P.A.

Valencia Capital Management

Vintage Fund Management, LLC

Windward Capital Management

6/12/2009 8:56:34 AM 7 Produced by:

CONCURRENT SESSIONS

10:45 AM – 11:45 PM INDUSTRY SECTOR SESSIONS

SESSION 4 REAL ESTATE

Clyde Room Top investors focused on the real estate arena will offer candid perspectives on how and

where real estate is playing key role in their long and short-term investment strategies.

New opportunities are being pursued—learn more about what’s of interest, and what’s

to be avoided.

Moderator:

AVP Advisors, LLC – Mark Albertson, Managing Principal

Speakers:

• CalPERS – Laurie Weir, Portfolio Manager, CURE Program

• MetLife Real Estate – R. Lynn King-Tolliver, Director

• Teacher Retirement System of Texas – David Kelly, Board Member

• University of California, Office of the Treasurer of the Regents – Gloria Gil,

Managing Director, Alternative Investments

SESSION 5 PRIVATE EQUITY / VENTURE CAPITAL – How to manage and make shifts in volatile

Garden Room times

This long-favored asset class is undergoing shifts as capital requirements among private

equity and venture funds’ portfolio companies remain steady, yet liquidity events

remains elusive. New strategies, including investments in distressed assets, are being

explored. Learn how top players in the sector are navigating the new terrain.

Vista Equity Partners Moderator:

Vista Equity Partners – Martin Taylor - Operating Principal

Speakers:

• The Boeing Company – Elizabeth Allison Tulach, Senior Director, Alternative

Investments

• Banc of America Capital Access Funds – Matt HoganBruen, Managing Director

• JPMorgan Private Equity Group – Laureen Costa, Portfolio Manager

• Parish Capital Advisors, LLP – Tracy Harris, Director

• The Walt Disney Company – Michael William Johnson, Manager – Treasury

SESSION 6 HEDGE FUNDS – New Regulatory Climate and Post Madoff Era

George Room Changes are underway within the sector with plan sponsors requiring terms that reflect

the risks of hedge fund investing—and potential rewards—and a new, more stringent

regulator environment. Top pros representing the nation’s leading hedge funds and plan

sponsor representatives will come together for a lively discussion.

Moderator:

New Jersey State Investment Division – Erika Irish Brown, Board Member

Co-Sponsored by:

Banc of America Capital

Access Funds

JPMorgan Private Equity

Group

Vista Equity Partners

Co-Sponsored by:

PAAMCO®

NA Investcorp LLC

6/12/2009 8:56:34 AM 8 Produced by:

Speakers:

• Aksia Research & Management, LLC– Jacob Walthour Jr., Managing Director

Hedge Funds

• CalPERS – Brian Russell, Portfolio Manager, Absolute Return Strategies

• Hedge Fund Research, Inc. – Ken Heinz, President

• Howard University Endowment and Retirement Fund – Sidney H. Evans, Senior

Vice President and Chief Financial Officer-Treasurer

• NA Investcorp, LLC – Lofton Holder, Managing Director

• PAAMCO – Von Hughes, Managing Director

SESSION 7 PUBLIC EQUITY – Rebalancing with Traditional Asset Classes

Cornelius Room With current market levels, investments in publicly traded companies is offering

institutional investors an unmatched opportunity. Learn more about how some of the

nation’s largest plan nation’s largest plan sponsors are factoring in public equity investments as a key part of

their strategies.

Moderator:

Mar Vista Investment Partners, LLC – Silas A. Myers, Chief Executive Officer

Speakers:

• Employees' Retirement Fund of the City of Dallas – Cheryl Alston, Executive

Director

• Howard University Endowment and Retirement Fund – Gregory A. White,

Trustee

• Mercer Investment Consulting, Inc. – Kristin Finney-Cooke, Senior Consultant

• Texas Permanent School Fund – Rene Nunez, Board Member

12:00 PM – 1:15 PM

Ballroom POWER NETWORKING LUNCHEON

Introduction:

Capital Point Partners, LLC – Alfred Jackson, Partner

Luncheon Address:

UCLA Anderson Forecast - Edward E. Leamer, Ph.D, Director

1:15 PM – 1:45 PM DESSERT NETWORKING BREAK

Garden Room

Sponsored by:

Mar Vista

Investment

Partners, LLC

Sponsored by:

Angelo, Gordon & Co.

Hamilton Lane

HSBC Bank USA N. A.

Keyhaven Capital Partner Ltd.

TMS Capital

Vicente Capital Partners, LLC

Sponsored by:

Capital Point Partners, LLC

6/12/2009 8:56:34 AM 9 Produced by:

2:00 PM – 3:45 PM VIP CONNECT

Ballroom

Bringing together Value, Information and Partnership, our closing session (historically

called “Speed Networking”) puts plan sponsors, minority and emerging managers and

others face-to-face in productive, introductory meetings. Participants will benefit from

first-hand perspectives from the nation’s key and most active pension fund,

endowment, and foundation investors in small group session format that fosters candid

discussions and exchange.

3:45 PM CONCLUSION

Co-Sponsored by:

AllianceBernstein

Black Enterprise

Centinela Capital

Partners

Kennedy-Wilson, Inc.