With pervasive economic uncertainty, an outbreak of economic and military warfare, inflation setting records, central banks scrambling to adjust policies, and the long shadow of the pandemic obscuring vision, investors are navigating a market at a crossroads. Is the selloff in equities coming to an end? What’s the right path forward for credit investing? Which alternatives provide the best return? Managing risk versus reward, optimizing returns and navigating this new market dynamic amid a challenging environment is the focal point for this year’s Delivering Alpha Investor Summit.
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Governor Glenn Youngkin is a homegrown Virginian who grew up in Richmond and Virginia Beach. As his father changed jobs, Governor Youngkin learned that moving around didn’t equal moving up – nothing was handed to him. From his first job washing dishes and frying eggs at a diner in Virginia Beach, he embraced hard work and responsibility to help his family when his father lost his job. His determination to succeed earned him multiple high school basketball honors in Virginia and an athletic scholarship to college.
After earning an engineering degree at Rice University, and his MBA at Harvard Business School, Governor Youngkin and his wife Suzanne moved to Northern Virginia. He landed a job at The Carlyle Group, where he spent the next 25 years. Working his way to the top of the company, Governor Youngkin played a key role in building Carlyle into one of the leading investment firms in the world. His efforts have helped fund the retirements of teachers, police officers, firefighters and other frontline public servants and supported hundreds of thousands of American jobs.
Married for over 27 years to his amazing wife Suzanne, Governor Youngkin is a dedicated father of four wonderful children. Their family journey has been and continues to be guided by their faith.
On March 26, 2021, Wally Adeyemo was sworn in as Deputy Secretary of the Treasury. He has been at the center of many of the country’s major economic policy decisions since the 2008 Financial Crisis and has worked in organizations across the public, private, and non-profit sectors to build a stronger and fairer economy.
As Deputy Secretary, Adeyemo serves as the Treasury Department’s number two official and chief operating officer. Adeyemo has taken a leading role in Treasury’s national security, economic inequality, and pandemic-related economic recovery work, while supporting the Secretary in driving the Department’s fundamental mission: promoting economic growth and ensuring the financial security of the United States.
This is Adeyemo’s second tour at the Treasury Department. His first began in the early days of the Obama Administration, during the depths of the Great Recession. Rising through a variety of leadership roles at Treasury, Adeyemo became Senior Advisor and Deputy Chief of Staff under Secretary Tim Geithner and Secretary Jack Lew, as well as chief negotiator for the Trans-Pacific Partnership’s provisions on macroeconomic policy.
From 2015 to 2017, Adeyemo served in the Obama White House as Deputy National Security Adviser for International Economics and Deputy Director of the National Economic Council. Adeyemo was responsible for coordinating the policymaking process related to international finance, trade and investment, energy, and environmental issues. He also served as President Obama’s representative to the G7 and G20.
Adeyemo also served as the first Chief of Staff of the Consumer Financial Protection Bureau, which was founded after the financial crisis to protect Americans from unfair, deceptive, or abusive consumer financial practices. Adeyemo helped build out the Bureau’s initial executive leadership team and served as a member of its executive committee.
After leaving government in 2017, Adeyemo served as the first president of the Obama Foundation, where he worked with the former president and first lady to help them continue giving back to the country as private citizens. Adeyemo also served as a Senior Advisor at the Center for Strategic and International Studies and at BlackRock.
Adeyemo was previously a member of the Aspen Strategy Group, which promotes widespread economic opportunity and the competitiveness of America. He also served on the boards of Demos, a New York-based think tank focused on social, political, and economic equity issues; the Golden State Opportunity Foundation, which works to provide financial security to low-income working people throughout California; and Just Homes, a faith-based affordable housing initiative based in Washington, DC.
Born in Idaban, Nigeria, Adeyemo immigrated to California’s Inland Empire as young child with his parents, an educator and a nurse. He attended the University of California, Berkeley and Yale Law School.
Afsaneh Mashayekhi Beschloss is Founder and CEO of RockCreek. Previously, she was Managing Director and Partner at the Carlyle Group. She was Treasurer and Chief Investment Officer of the World Bank and worked at J.P. Morgan. Afsaneh has advised governments, central banks, and regulatory agencies on global public policy and financial policy as well as energy. She led the World Bank’s energy investments and policy work on areas including sustainable investing, renewable energy, power, and infrastructure to reduce carbon emissions and founded its Natural Gas Group as a transitional fuel.
Afsaneh is Chair of PBS Foundation and a trustee of the Institute for the Advanced Study. She serves on the boards of the World Resources Institute; the Council on Foreign Relations; the Rockefeller Foundation, where she chairs the finance committee; the Bretton Woods Committee, where she co-chairs the Future of Finance Working Group; Gavi Vaccine Alliance; Georgetown University; and the Center for Global Development.
She was recognized by Carnegie Corporation in their Great Immigrants, Great Americans 2020 list, received the Institutional Investor Lifetime Achievement Award and the Robert F. Kennedy Human Rights Ripple of Hope Award, and been listed among the “Most Powerful Women in Banking” by American Banker.
Afsaneh holds an MPhil (Honors) in Economics from the University of Oxford, where she taught international trade and economic development. She is the co-author of The Economics of Natural Gas and author of numerous journal articles on energy, finance, renewable energy, and impact investing.
Carson Block is the Chief Investment Officer of Muddy Waters Capital LLC, an activist investment firm. Muddy Waters conducts extensive due diligence based investment research on companies around the globe. Bloomberg Markets Magazine named Mr. Block as one of the “50 Most Influential in Global Finance” in 2011. The following year, Muddy Waters received the prestigious Boldness in Business Award from the Financial
Times. In September 2015, Mr. Block was featured in the book, The Most Dangerous Trade: How Short Sellers Uncover Fraud, Keep Markets Honest, and Make and Lose Billions, by former Bloomberg writer Richard Teitelbaum.
Muddy Waters gained fame in 2011 following the publication of its research on Sino-Forest Corp., which exposed the company as a massive fraud. Activist campaigns conducted by Muddy Waters have led to numerous financial restatements by companies, four de-listings and one multi-year stock suspension by securities regulators, over $100 million in restitution paid to investors, and over $50 million paid to regulators. Mr. Block appears frequently as a commentator on Bloomberg Television, CNBC and the BBC. He has written op-eds in the Wall Street Journal, Financial Times, and New York Times on various topics related to improving corporate governance and market transparency.
Prior to forming Muddy Waters, Mr. Block was an entrepreneur in China and worked as a lawyer in the Shanghai office of the U.S. law firm Jones Day. In 2007, he coauthored Doing Business in China for Dummies, a primer on doing business in China. He holds a B.S. in business from the University of Southern California and a J.D. from the Chicago-Kent College of Law, where he has also served as an adjunct professor.
Treasury Deputy Secretary Wally Adeyemo will share the Biden administration’s plan to fight inflation and build a more resilient economy. He’ll also discuss the U.S response to Russia, the endgame for Ukraine and the potential for geopolitical realignment.
Wally Adeyemo, United States Department of the Treasury Deputy Secretary
Interviewer: Ylan Mui, CNBC Senior Congressional Correspondent
In an era of major crosscurrents, investors want to know where the greatest investment opportunities are today. Three influential players will examine the key issues influencing the markets, and share their perspective on delivering alpha.
Mary Callahan Erdoes, JPMorgan Asset & Wealth Management CEO
Roger Ferguson, Former TIAA CEO
John Vaske, Temasek Head, Americas
Moderator: Sara Eisen, CNBC “Closing Bell” Anchor
Investing icon Stan Druckenmiller of Duquesne Family Office sits down with Joe Kernen to talk about today’s investment environment.
Stanley Druckenmiller, Duquesne Family Office Chairman & CEO
Interviewer: Joe Kernen, CNBC “Squawk Box” Co-Anchor
What does it take to be a successful investor over the long term? Hear insights and strategies from two notable and successful “masters” of their craft.
David Rubenstein, The Carlyle Group Co-Founder, Co-Chairman & “How to Invest: Masters on the Craft” Author
Paula Volent, Rockefeller University Vice President & CIO
Moderator: Becky Quick, CNBC “Squawk Box” Co-Anchor
Where are the best credit returns now? With rates on the rise and the Fed on the move, we’ll hear from Dan Ivascyn of PIMCO on where he is putting his portfolio to work.
Dan Ivascyn, PIMCO Group Chief Investment Officer
Interviewer: Leslie Picker, CNBC Finance & Investing Reporter
Geopolitical turmoil, climate change, pandemics, inflation: uncertainty rules the day. We’ll do a deep dive into how to navigate today’s market risks and how the past could give clues to alpha in the future.
Edwin Cass, CPP Investments Senior Managing Director & CIO
Anastasia Titarchuk, NYS Common Retirement Fund CIO
Tina Byles Williams, Xponance CEO, CIO & Founder
Moderator: Melissa Lee, CNBC “Fast Money” & “Options Action” Host
Delivering superior investment returns while driving impact, in both the public and private markets.
Roy Swan, Ford Foundation Head of Mission Investments
Shundrawn Thomas, The Copia Group Founder & Managing Partner
Lauren Taylor Wolfe, Impactive Capital Co-Founder & Managing Partner
Moderator: Leslie Picker, CNBC Finance & Investing Reporter
Sponsored by Parametric
Lunch keynote:
Glenn Youngkin, Governor (R) Virginia
Interviewer: Ylan Mui, CNBC Senior Congressional Correspondent
Investor. Market maker. CEO. While the markets have been suffering one of the worst years since the 1970s, Ken Griffin and Citadel have been bucking the trend. With over thirty years in business, he’ll share his market insights and perspective.
Ken Griffin, Citadel Founder & CEO
Interviewer: Scott Wapner, CNBC “Fast Money Halftime Report” & “Closing Bell: Overtime” Host
We’ll get up close and personal about the business and partnership between the private equity giant and the fast-growing “queen bee” of online dating.
Jonathan Gray, Blackstone President & COO
Whitney Wolfe Herd, Bumble Founder, CEO & Board Director
Moderator: David Faber, CNBC “Squawk on the Street” Co-Anchor
Here comes the boom?
Following a resizing of deal valuations, a PE industry flush with cash is handicapping new opportunities across the technology arena. Two leaders in the space take us on a deep dive into where new long-term growth opportunities exist.
Orlando Bravo, Thoma Bravo Founder & Managing Partner
Bill Ford, General Atlantic Chairman & CEO
Moderator: Leslie Picker, CNBC Finance & Investing Reporter
What goes up, sometimes should come down. Hear from two notable skeptics on where short sellers could go long.
Carson Block, Muddy Waters Capital CIO
Jim Chanos, Chanos & Company Founder & Managing Partner
Moderator: Dominic Chu, CNBC Senior Markets Correspondent
A closer look at some emerging areas of interest, from companies paving the path to net-zero, to making the metaverse a reality, to monetizing the blockchain.
Afsaneh Beschloss, RockCreek Founder & CEO
Julian Salisbury, Goldman Sachs Asset Management Global Head
Moderator: Jon Fortt, CNBC “TechCheck” Co-Anchor
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Parametric partners with advisors, institutions, and consultants to build portfolios focused on what’s important to them and their clients. A leader in custom solutions for more than 30 years, we help investors access efficient market exposures, solve implementation challenges, and design multi-asset portfolios that respond to their evolving needs. We also offer systematic alpha and alternative strategies to complement clients’ core holdings. Headquartered in Seattle, Parametric has offices in Minneapolis; New York; Boston; and Westport, Connecticut. For more information, visit parametricportfolio.com.
PointsBet is a cutting-edge, sports betting and technology company, and the Official Sports Betting Partner of NBC Sports. Founded in Australia and proudly headquartered in Denver, CO, PointsBet’s sports betting product is live in eleven states with an online casino product live in four states.PointsBet’s proprietary tech platform and commitment to an in-house approach powers unrivalled innovation and competitive advantages like market-leading speed and ease of use across every customer touchpoint, unique product features, exclusive bet types, local personalization, and so much more.PointsBet announced the company’s Initial Public Offering on the Australian Securities Exchange on June 12, 2019.
For more information visit: www.pointsbet.com
Investing smarter for the world you want
At Columbia Threadneedle Investments, we invest to make a difference in your world, and the wider world. Millions of people rely on us to manage their money and invest for their future; together they entrust us with $598/€572/£492 billion. Whatever world you want, our purpose is to help you achieve it. We do this by being globally connected, intense about research, having a responsible ethos and a focus on continuous improvement.
To learn more, visit columbiathreadneedleus.com/institutional/.
Standard Chartered is a leading international banking group, with a presence in 59 of the world’s most dynamic markets, and serving clients in a further 83. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.
For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.
Interactive Brokers Group affiliates provide clients from over 200 countries and territories the ability to invest globally in stocks, options, futures, currencies, bonds, funds and more from a single unified platform. Clients can trade around the clock on over 150 markets and fund and trade accounts in up to 27 currencies. Interactive Brokers services financial advisors, individual investors, hedge funds, proprietary trading groups, and introducing brokers.
The company’s four decades of focus on technology and automation enables it to equip clients with a uniquely sophisticated platform to manage their investment portfolios. Interactive Brokers strives to provide clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments.
For the sixth consecutive year, BARRON’S ranked Interactive Brokers #1 with 5 out of 5 stars in its June 12, 2023, Best Online Brokers Review.
Visit us at ibkr.com/ria.
Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.3 trillion in assets under management as of 31 Dec 2021 and operations in 27 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.
iConnections is a community that connects the investment management industry year-round. The iConnections platform is a software that seamlessly connects managers and allocators for virtual meetings, giving managers the ability to subscribe and share information with allocators who can efficiently select and meet managers all on one platform.
Uniquely, purpose and philanthropy are embedded in the way iConnections works, with charitable initiatives and fundraising as a central pillar of the ecosystem. The scalable technology powering iConnections can be used for bespoke events by managers, allocators and service providers. In an environment where physical events and meetings are no longer the norm, iConnections reimagines how the investment industry connects.
Visit iConnections.io to learn more.
CEE’s mission is to equip K-12 students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families, and their communities.
For more information, visit www.councilforeconed.org.
Christopher Ailman has been the chief investment officer of CalSTRS since October 2000. He leads an investment staff of more than 200 and oversees a portfolio valued at $318.1 billion as of February 28, 2022 . He has more than 37 years of institutional investment experience.
He has served on several boards and advisory boards in the U.S. and U.K. He represents institutional investors on the MSCI Index Editorial Advisory Board, the PRI Asset Owners Advisory Committee, the Sustainability Accounting Standards Board (SASB) Investor Advisory Group and the Toigo Foundation. He is the chair of the 300 Club and co-chair of the Milken Global Capital Markets Committee. In 2016, he was part of the first cohort to achieve a Fundamentals of Sustainable Accounting (FSA) credential.
Ailman is recognized as one of the top CIOs both in the U.S. and globally. He has received numerous awards and recognitions: the Institute for Fiduciary Education’s CIO of the Year in 2000, the Richard Stoddard Award for service in the investment of public pensions in 2003, the Distinguished Service Award for Advancement of Latinos in Business from the New American Alliance in 2006, and Institutional Investor magazine’s Large Public Fund Manager of the Year Award in 2011. In 2013, aiCIO magazine named Ailman the No. 3 CIO in the world and Investment Innovator of the Year. In 2017, Ailman received Institutional Investor magazine’s first Lifetime Achievement Award; and in 2018, he was named the top CIO in the world by Chief Investment Officer magazine. He is a regular guest on television and radio and is frequently quoted in major financial publications.
Ailman has a Bachelor of Arts in business economics from the University of California, Santa Barbara. He received his certified financial planner designation from the University of Southern California. He is married with three daughters and is a committed Promise Keeper.
Afsaneh Mashayekhi Beschloss is Founder and CEO of RockCreek. Previously, she was Managing Director and Partner at the Carlyle Group. She was Treasurer and Chief Investment Officer of the World Bank and worked at J.P. Morgan. Afsaneh has advised governments, central banks, and regulatory agencies on global public policy and financial policy as well as energy. She led the World Bank’s energy investments and policy work on areas including sustainable investing, renewable energy, power, and infrastructure to reduce carbon emissions and founded its Natural Gas Group as a transitional fuel.
Afsaneh is Chair of PBS Foundation and a trustee of the Institute for the Advanced Study. She serves on the boards of the World Resources Institute; the Council on Foreign Relations; the Rockefeller Foundation, where she chairs the finance committee; the Bretton Woods Committee, where she co-chairs the Future of Finance Working Group; Gavi Vaccine Alliance; Georgetown University; and the Center for Global Development.
She was recognized by Carnegie Corporation in their Great Immigrants, Great Americans 2020 list, received the Institutional Investor Lifetime Achievement Award and the Robert F. Kennedy Human Rights Ripple of Hope Award, and been listed among the “Most Powerful Women in Banking” by American Banker.
Afsaneh holds an MPhil (Honors) in Economics from the University of Oxford, where she taught international trade and economic development. She is the co-author of The Economics of Natural Gas and author of numerous journal articles on energy, finance, renewable energy, and impact investing.
Orlando Bravo is the Founder and Managing Partner of Thoma Bravo. He led Thoma Bravo’s early entry into software buyouts and built the firm into one of the top private equity firms in the world. Today, Orlando directs the firm’s strategy and investment decisions in accordance with its principles of partnership, innovation, and performance. Orlando has overseen over 300 software acquisitions conducted by the firm, representing more than $85 billion in transaction value. Forbes named him “Wall Street’s best dealmaker” in 2019, and he was part of Thomson Reuters “Eight Buyout Pros to Watch” in 2009.
Orlando was born in Mayaguez, Puerto Rico. He graduated Phi Beta Kappa with a bachelor’s degree in economics and political science from Brown University in 1992 and earned a JD from Stanford Law School and an MBA from the Stanford Graduate School of Business in 1998.
He is the Founder and Chairman of the Bravo Family Foundation, the mission of which is to provide access and opportunities to young adults in Puerto Rico. Orlando directs the organization’s various programs and initiatives to promote entrepreneurship, community-based leadership and economic development in Puerto Rico. After Hurricane Maria hit Puerto Rico in 2017, he spearheaded a humanitarian mission to remote communities on the island. In 2019, Orlando committed $100 million to the Foundation’s Rising Entrepreneurs Program (REP) with the goal of fostering entrepreneurship in Puerto Rico.
The Orlando Bravo Center for Economics Research at Brown University supports innovative research, training and collaborative projects for faculty and students in the Department of Economics. At Stanford Law School, Orlando created the Bravo Family Public Interest Post-Graduate Fellowship Fund to support students seeking full-time employment in public interest.
Orlando’s philanthropic interests also include causes in healthcare. He endowed faculty scholar and fellow positions at Stanford University’s Sean N. Parker Center for Allergy Research. He supports a wide range of medical research conducted at Stanford University, at the University of California San Francisco (UCSF) and at the College of Physicians and Surgeons at Columbia University. He is also a member of the Board of Trustees at Memorial Sloan Kettering Cancer Center.
Orlando is a Member of the Board of Trustees of the Corporation of Brown University.
Elizabeth Burton is the Chief Investment Officer of the Employees’ Retirement System of the State of Hawaii (“HIERS”), where she oversees $19 billion in pension fund assets. Ms. Burton is also on the Board of Directors of the Chartered Alternative Investment Association (CAIA). Prior to joining HIERS, Ms. Burton served as Managing Director of the Quantitative Strategies Group at the Maryland State Retirement Agency. In this role, Ms. Burton was responsible for the $4.5B Absolute Return Portfolio and for risk management oversight of the $55B Plan. Ms. Burton joined the Agency in July 2016. Previously, Ms. Burton owned William Street Advisory—a strategic advisory practice which she founded in 2013. Prior to that role, Ms. Burton was a Senior Economist and Expert Witness with Criterion Economics. Prior to that role, Ms. Burton was a Consultant at First Annapolis where she worked on M&A transactions and consulting the payments industry. Previous positions include: Co-Portfolio and Quantitative Risk Analyst with a South Africa-based fund of hedge funds, Trader (fixed income securities) for a risk management firm, and Portfolio Management Associate with a quant-focused fund of hedge funds. Ms. Burton received her Bachelor’s degree in Political Science and French, cum laude, from Washington and Lee University, and her MBA in Finance, Econometrics & Statistics from the University of Chicago Booth School of Business. She is on the board of a private residential real estate investment trust and a Trustee of The Hill School, a private boarding school. She is also a CAIA charter holder. Ms. Burton was named one of Chief Investment Officer Magazine’s Top-40-Under-40 in June 2017. In 2019 Ms. Burton received the Industry Innovation Award for <$20B plan by Chief Investment Officer Magazine and was listed in the Power 100 in 2019. In 2020 she was added to the list of top 1% of institutional investors by The Trusted Insight. She has made several appearances on CNBC in 2020 to address the state of the markets in COVID.