FEATURE HFMWEEK AWARDS 2011

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W ith close to 700 guests, 224 shortlisted funds

and 34 awards, 2011’s HFM US Performance Awards was a night celebrating positive numbers. The following pages acknowledge the achievements of those businesses that have outperformed their peer group and continue to thrive during a dif ficult period for the global economy. Congratulations to them all.

AWARDS

2011T H U R S D A Y 1 3 O C T O B E R 2 0 1 1C I P R I A N I , N E W Y O R K

U S P E R F O R M A N C E A W A R D S

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LEFT TO RIGHT: Canover Watson, managing director at sponsor Admiral Administration; HFMWeek data manager Indira Peters, collecting the award on behalf of Invicta Fund; and host Naga Munchetty

LEFT TO RIGHT: Stephen Giannone, president and co-founder at sponsor Opus Fund Services; Louie Reformina, analyst - PWP Sustainable Resources Fund Investment Team at winner Perella Weinberg; and host Naga Munchetty

LEFT TO RIGHT: Alessandra Tocco, managing director, global head of capital introductions at sponsor J.P. Morgan; Ashok Raju, head of business development at winner VR Global Offshore Fund; and host Naga Munchetty

LEFT TO RIGHT: Elana Margulies, HFMWeek senior reporter; Jason Adler, general partner, and Nelson Saiers, CIO, at winner Alphabet Partners; and host Naga Munchetty

LEFT TO RIGHT: Gerry Tamburro, managing director at sponsor Pershing Prime Services; Andrew Sandler, portfolio manager at winner Sandler Plus Domestic Fund; and host Naga Munchetty

LEFT TO RIGHT: Christine Waldron, senior vice president, head of alternative investments operations at sponsor US Bancorp Fund Services; Jessica Del Vecchio, director of operations at winner Haar Capital Management; and host Naga Munchetty

LEFT TO RIGHT: Jack Wiener, executive vice president at sponsor Linedata; Alasdair Noble, head of business development at winner Brenner West Capital Partners; and host Naga Munchetty

LEFT TO RIGHT: Malcolm Pobjoy, regional head of client management group, Americas at sponsor HSBC Securities Services; Aaron Zimmerman, analyst at winner Pine River Fund; and host Naga Munchetty

LO N G/S H O RT EQ U I T Y ( U S ) U N D E R $25 0 m

WINNER INVICTA FUND

“The US equity markets have been far from kind, but Invicta continues to demonstrate skill, guile and real ability in producing impressive returns. A fund to watch”

LO N G/S H O RT EQ U I T Y ( U S ) O V E R $25 0 m

WINNER SANDLER PLUS DOMESTIC FUND

“Sandler is a respected giant in this sector, ably fighting of f some excellent competition in this category. A master of US equity investment ”

LO N G/S H O RT EQ U I T Y ( G LO B A L ) U N D E R $25 0 m WINNER PERELL A WEINBERG PARTNERS SUSTAINABLE RESOURCES FUND

“Global markets have been down, but Perella Weinberg ’s Sustainable Resources fund has used its granular understanding of the market to continue to hit the highs. A solid product , from a quality firm”

LO N G/S H O RT EQ U I T Y ( G LO B A L ) O V E R $25 0 m

WINNER BRENNER WEST CAPITAL PARTNERS

“Brenner West ’s impressive track record combines with the institutional hef t to make this a genuinely impressive of fering. A wor thy winner in a hotly fought category ”

M A R K E T N E U T R A L WINNER PINE RIVER FUND

“Pine River succeeded in ticking all of the judges’ boxes. It ’s recent per formance, investor relations and track record impressed, while its commitment to building a sustainable business was described as ‘impeccable’”

R E L AT I V E VA LU E

WINNER ALPHABET PARTNERS

“Alphabet continues to impress in this sector, showing significant skill as a relative value manager during a dif ficult spell. Few managers in this space have demonstrated this level of ability“

C R E D I T

WINNER VR GLOBAL OFFSHORE FUND

“Delivering impressive returns, despite the fund’s great size, demonstrates the skill at the hear t of VR Global. A class act and a master at negotiating the credit markets”

M A N A G E D F U T U R E S ( C TA ) U N D E R $5 0 0 m

WINNER HAAR CAPITAL MANAGEMENT DCTP

“Combining shoot-the-lights-out returns and a low standard deviation, Haar Capital represents genuine institutional quality. A well deserved winner ”

W I N N E R S ’

G A L L E R Y

FEATURE HFMWEEK AWARDS 2011

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LEFT TO RIGHT: John Wallace, managing director and global co-head of alternative fund services at sponsor Deutsche Bank Fund Administration; Shaun Jordan, director of marketing at winner Salem Global Opportunity Fund; and host Naga Munchetty

LEFT TO RIGHT: Michael Scully, co-managing partner at sponsor Orical; John Novogratz, global head of marketing and investor relations at winner Millennium USA; and host Naga Munchetty

LEFT TO RIGHT: The Bridgewater marketing team with Parag Shah, head of marketing (holding award)

LEFT TO RIGHT: Thomas Levings, managing director at sponsor BNY Mellon Alternative Investment Services; Vik Mehrotra, CEO at winner Venus Global Macro Fund; and host Naga Munchetty

LEFT TO RIGHT: Jason Kaplan, partner at sponsor Schulte Roth & Zabel; Yong Cai, portfolio manager, and Robert Sherak , CEO and portfolio manager, at winner Midway; and host Naga Munchetty

LEFT TO RIGHT: Jim Cass, vice president and managing director at sponsor SEI; Claude Perron, chairman at winner Amethyst Arbitrage Fund (offshore); and host Naga Munchetty

LEFT TO RIGHT: Gregg Knapp, director of business development at sponsor Opus Fund Services; Emma Sugarman, global head of capital introductions at BNP Paribas; and host Naga Munchetty

LEFT TO RIGHT: Sharon Eliran, vice president, Hedge Fund Capital Group at sponsor Deutsche Bank; Jeff Weber, president at winner York Asian Opportunities; and host Naga Munchetty

M A N A G E D F U T U R E S ( C TA ) O V E R $5 0 0 m

WINNER SALEM GLOBAL OPPORTUNIT Y FUND

“For tunes in the CTA space have been mixed, but Salem demonstrated why an army of investors have turned to this strategy over the last year. An exceptional fund“

S P EC I A L I ST

WINNER MIDWAY MARKET NEUTR AL MASTER FUND

“A specialist in generating high alpha, while mitigating risk . Midway ’s returns in this category outstripped the competition. A reliable per former ”

MU LT I -ST R AT EGY

WINNER MILLENNIUM USA

“Consistent returns from a unique business. Millennium has great per formance, an impressive infrastructure and an excellent ability to protect the capital of investors. A stand-out winner ”

E V E N T D R I V E N U N D E R $25 0 m

WINNER AK ANTHOS ARBITR AGE FUND

“During tough economic times, the best event driven managers come to the fore. Akanthos is par t of this select group and is a wor thy winner in this category ”

E V E N T D R I V E N O V E R $25 0 m

WINNER YORK ASIAN OPPORTUNITIES

“ York has shown skill, judgement and real conviction in making the most of a growth region. A well-positioned fund with a huge potential for future growth”

M A C RO U N D E R $1 b n

WINNER VENUS GLOBAL MACRO FUND

“Macro managers are some of the best positioned to make sense of the world’s current confusion. At the the very top of its peer group, Venus has shown real vision in making its impressive returns. A quality of fering ”

M A C RO O V E R $ 1 b n

WINNER BRIDGEWATER PURE ALPHA FUND I I

“Unique, ambitious and far beyond anyone else in the industry. The intellectual power at Bridgewater, as well as its fantastic returns, makes it a remarkable winner ”

M E RG E R A R B I T R A G E

WINNER AMETHYST ARBITR AGE FUND (OFFSHORE)

“In a market starved of deals, Amethyst has shown skill and determination in its chosen investment strategy, making real returns and pleasing its investor base in the process”

FEATURE HFMWEEK AWARDS 2011

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LEFT TO RIGHT: Alessandra Tocco, managing director, global head of capital introductions at sponsor J.P. Morgan; Ricardo Rivera, CFO at winner Alsis Latin America Fund; and host Naga Munchetty

LEFT TO RIGHT: Canover Watson, managing director at sponsor Admiral Administration; Elana Margulies, HFMWeek senior reporter, collecting the award on behalf of winner Nexstar; and host Naga Munchetty

LEFT TO RIGHT: Natalie Deak, partner, financial services, at sponsor Ernst & Young; Adam Flikerski, managing partner at winner BlackGold Opportunity Fund; and host Naga Munchetty

LEFT TO RIGHT: Luis Zea, vice president, marketing at sponsor Imagine Software; HFMWeek data manager Indira Peters collecting the award on behalf of winner McGinnis Capital; and host Naga Munchetty

LEFT TO RIGHT: Neil Morris, member, operational risk at sponsor Kinetic Partners; Ryan Korinke, senior vice president and product manager at winner PIMCO; and host Naga Munchetty

LEFT TO RIGHT: Jason Kaplan, partner at sponsor Schulte Roth & Zabel; Michael Rulle, CEO and President at winner Quantitative Directional Program; and host Naga Munchetty

LEFT TO RIGHT: Arielle Rebraca, executive assistant; Ellen D’Aleo, client service; Natalya Zhirova, office manager; Julia Shvartsberg, fund accountant; Luba Kostyukova, senior operations professional, collecting the award on behalf of fund manager, James Passin

LEFT TO RIGHT: Chris Bianchi, global head of prime brokerage operations at sponsor Jefferies & Co; HFMWeek editor Gwyn Roberts, collecting the award on behalf of winner Salida Strategic Growth Fund; and host Naga Munchetty

F I X E D I N CO M E U N D E R $25 0 m

WINNER ALSIS L ATIN AMERICA FUND

“Alsis has made the most out of a region with growing potential. With more investors searching for Latam exposure, the success of this fund is bound to be noticed”

F I X E D I N CO M E O V E R $25 0 m

WINNER PIMCO ABSOLUTE RETURN STR ATEGY IV

“Legendary managers sometimes struggle to maintian momentum. Pimco shows no signs of doing this, with its Absolute Return Strategy outclassing its peer group and demonstrating mastery over the fixed income markets”

E M E RG I N G M A R K E T S U N D E R $10 0 m

WINNER NEXSTAR DEVELOPING OPPORTUNITIES FUND

“Nexstar has produced impressive returns without experiencing the sor t of volatility of ten asscociated with emerging markets. A good quality fund with a bright future”

E M E RG I N G M A R K E T S O V E R $10 0 m

WINNER FIREBIRD GLOBAL FUND

“With emering markets increasingly crowded, investors are fleeing to quality. Firebird has demonstrated the ability to outper form its peers and is a nimble and impressive manager ”

N E W CO M E R - EQ U I T Y

WINNER SALIDA STR ATEGIC GROWTH FUND ( INTERNATIONAL)

“With the equity space battered and bruised this year, very few newcomers have been able to impress like Salida. The judges felt that the firm had enjoyed a stellar run, while creating a sustainable business model”

N E W CO M E R – OT H E R U N D E R $10 0 m

WINNER MCGINNIS CAPITAL

“Equity newcomers have faced a baptism of fire, with unforgiving markets delivering a punishing judgement on many. McGinnis has risen to this challenge, peformed well and remains a fund to watch”

N E W CO M E R – OT H E R O V E R $10 0 m

WINNER BL ACKGOLD OPPORTUNIT Y FUND

“BlackGold impressed the judges with the quality of its investment decisions and a commitment to creating a sound business model. A smar t and astute manager ”

N E W CO M E R - C TA

WINNER QUANTITATIVE DIRECTIONAL PROGR AM

“The CTA space has seen a huge upswing in investor demand, but mixed performance. As one of its brightest newcomers, the Quantitative Directional Program has proved its ability and now stands to gain further success”

FEATURE HFMWEEK AWARDS 2011

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LEFT TO RIGHT: Andrew Saunders, director of capital introduction at sponsor Direct Access Partners; Richard Fearon Jr, managing partner at winner Accretive Capital Partners; and host Naga Munchetty

LEFT TO RIGHT: Andrew Dougherty, managing director and head of alternative and institutional solutions at sponsor BNP Paribas; Peter Brown, partner at winner Meridian Diversified Fund; and host Naga Munchetty

LEFT TO RIGHT: Malcolm Pobjoy, regional head of client management group, Americas at sponsor HSBC Securities Services; Don Segalas, managing partner and CEO at winner Pinnacle Natural Resources; and host Naga Munchetty

LEFT TO RIGHT: Luis Zea, vice president, marketing at sponsor Imagine Software; Elana Margulies, HFMWeek senior reporter, collecting the award on behalf of winner Voyager Partners; and host Naga Munchetty

LEFT TO RIGHT: Rahul Mahajan, director, global prime finance sales at sponsor Deutsche Bank; Paul Tanico, founder and managing principal at winner CastleRock Partners; and host Naga Munchetty

LEFT TO RIGHT: Jim Cass, vice president and managing director at sponsor SEI; Michael van Biema, founder and managing partner at winner van Biema Value Fund; and host Naga Munchetty

LEFT TO RIGHT: Jane Janeczek , client manager at sponsor Citi Hedge Fund Services; Michael Halpern, co-founder and co-CIO at winner Dorchester Capital Partners; and host Naga Munchetty

LEFT TO RIGHT: Peter Sanchez, CEO at sponsor Northern Trust Hedge Fund Services; Troy Gayeski, portfolio manager at winner SkyBridge; and host Naga Munchetty

S INGLE M ANAGER LONG-TER M PERFOR M ANCE UNDER $250m

WINNER ACCRETIVE CAPITAL PARTNERS

“Many managers can enjoy single years of success, establishing a track record requires sterner stuf f. Accretive has consistently proved itself as a reliable per former and was a deserving winner ”

S INGLE M ANAGER LONG-TER M PERFOR M ANCE OVER $250m

WINNER CASTLEROCK PARTNERS

“CastleRock consistently impressed the judging panel with the quality of its operation and the consistency of its returns. With the markets still looking far from cer tain it is good to know that businesses like this still exist ”

F U N D O F H E D G E F U N D S MU LT I -ST R AT EGY U N D E R $25 0 m

WINNER MERIDIAN DIVERSIFIED FUND - CL ASS J SHARES

“The funds of hedge funds sector has endured dif f icut times of late, but firms like Meridian reveal its continued relevance. A quality operator with a real ability to per form”

Fo H F MU LT I -ST R AT EGY $25 0 m - $ 1 b n

WINNER DORCHESTER CAPITAL PARTNERS

“Dorchester ’s consistent approach and lack of correlation with its peer group won its plaudits. A strong manager with a clear investment approach”

Fo H F MU LT I -ST R AT EGY O V E R $1 b n

WINNER SKYBRIDGE MULTI-ADVISER HEDGE FUND PORTFOLIOS - SERIES G

“There has been plenty writ ten about SkyBridge, but the per formance of this fund is far stronger than words. A great product that is responsible for refreshing the funds of hedge funds model”

Fo H F S P EC I A L I ST U N D E R $25 0 m

WINNER VOYAGER PARTNERS

“Voyager ’s own journey has been impressive. Carefully selecting its underlying managers it was a deserving winner of this award and won a unaminous decision from the judges”

Fo H F S P EC I A L I ST O V E R $25 0 m

WINNER PINNACLE NATUR AL RESOURCES

“No stranger to awards, Pinnacle continues to impress. The judges felt that the combination of per formance and manager selection made it a wor thy winner of this category. A star achiever ”

Fo H F – LO N G -T E R M P E R FO R M A N C E

WINNER VAN BIEMA VALUE FUND

“A real value investor, van Biema won plaudits for sticking to its basic investment principles and making them work , not only last year, but over the whole of its lifespan”

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WITH THANKS TO OUR SPONSORS

LEFT TO RIGHT: Orla Nallen, managing director at sponsor BNY Mellon Alternative Investment Services; Elizabeth Curran, vice president, administration at winner EnTrust Capital Special Opportunities Fund; and host Naga Munchetty

LEFT TO RIGHT: Jay Gould, partner at sponsor Pillsbury Winthrop Shaw Pittman; John Novogratz, global head of marketing and investor relations at Millennium, collecting the award on behalf of Israel Englander; and host Naga Munchetty

E V E N T D R I V E N O V E R $ 2 5 0 ms p o n s o re d b y

M A N A G E D F U T U R E S ( C TA ) U N D E R $5 0 0 ms p o n s o re d b y

LO N G /S H O R T EQ U I T Y ( G LO B A L ) U N D E R $ 2 5 0 ms p o n s o re d b y

F I X E D I N CO M E O V E R $ 2 5 0 ms p o n s o re d b y

N E W CO M E R - OT H E R O V E R $ 10 0 ms p o n s o re d b y

Fo H F MU LT I -ST R AT EGY $ 2 5 0 m - $ 1 b ns p o n s o re d b y

S I N G L E M A N A G E R LO N G -T E R M P E R F O R M A N C E O V E R $ 2 5 0 m s p o n s o re d b y

N E W CO M E R - EQ U I T Ys p o n s o re d b y

M E RG E R A R B I T R A G Es p o n s o re d b y

MU LT I -ST R AT EGYs p o n s o re d b y

R E L AT I V E VA LU Es p o n s o re d b y

LO N G /S H O R T EQ U I T Y ( U S ) U N D E R $ 2 5 0 ms p o n s o re d b y

M A C RO U N D E R $ 1 b ns p o n s o re d b y

M A N A G E D F U T U R E S ( C TA ) O V E R $5 0 0 ms p o n s o re d b y

LO N G /S H O R T EQ U I T Y ( G LO B A L ) O V E R $ 2 5 0 ms p o n s o re d b y

E M E RG I N G M A R K E T S U N D E R $ 10 0 ms p o n s o re d b y

N E W CO M E R - C TAs p o n s o re d b y

Fo H F MU LT I -ST R AT EGY O V E R $ 1 b ns p o n s o re d b y

Fo H F MU LT I -ST R AT EGY U N D E R $ 2 5 0 ms p o n s o re d b y

N E W CO M E R - OT H E R U N D E R $ 10 0 ms p o n s o re d b y

F I X E D I N CO M E U N D E R $ 2 5 0 ms p o n s o re d b y

E V E N T D R I V E N U N D E R $ 2 5 0 ms p o n s o re d b y

C R E D I Ts p o n s o re d b y

LO N G /S H O R T EQ U I T Y ( U S ) O V E R $ 2 5 0 ms p o n s o re d b y

M A C RO O V E R $ 1 b ns p o n s o re d b y

S P EC I A L I STs p o n s o re d b y

M A R K E T N E U T R A Ls p o n s o re d b y

E M E RG I N G M A R K E T S O V E R $ 10 0 ms p o n s o re d b y

S I N G L E M A N A G E R LO N G -T E R M P E R F O R M A N C E U N D E R $ 2 5 0 m s p o n s o re d b y

Fo H F S P EC I A L I ST U N D E R $ 2 5 0 ms p o n s o re d b y

Fo H F N E W CO M E R

WINNER ENTRUST CAPITAL SPECIAL OPPORTUNITIES FUND

“EnTrust is a reliable provider capable of innovating the funds of hedge funds model. This of fering only serves to prove the firm’s ability - an impressive new venture from a seasoned firm”

S P EC I A L CO N T R I B U T I O N

WINNER ISR AEL ENGL ANDER , FOUNDER , MILLENNIUM PARTNERS

“A legend in the hedge fund space, Izzy Englander spearheads a genuinely institutional business that acts as a beacon for talent and a badge of quality for investors. A deserving winner of this year ’s HFMWeek Special Contribution Award”

Fo H F N E W CO M E Rs p o n s o re d b y

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Fo H F - LO N G -T E R M P E R F O R M A N C Es p o n s o re d b y

Fo H F S P EC I A L I ST O V E R $ 2 5 0 m s p o n s o re d b y

S P EC I A L CO N T R I B U T I O Ns p o n s o re d b y