2008 Yale SOM Investment Management Conference

Stephen C. Freidheim
CIO and Managing Partner
Cyrus Capital Partners

Stephen C. Freidheim is the CIO and Managing Partner of Cyrus Capital Partners. He was the Senior Managing Member of Och-Ziff Freidheim (OZF Capital), the predecessor company. OZF Capital was founded in August 1999 by Mr. Freidheim, Daniel S. Och and the Ziff family to manage the distressed, capital structure arbitrage, special situations and direct lending activities of Och-Ziff and OZF. He was Managing Director and Partner at Bankers Trust Company and head of its Capital Management Group from 1993 to 1999, where he was responsible for proprietary trading and client investments in high yield and distressed. In addition, he was Chief Investment Officer of Fixed Income with $30 billion in assets. He was the Director of Research and Trading and a member of Board of Directors for Nomura Corporate Research & Asset Management from 1990-93. Mr. Freidheim started his career at Kidder, Peabody in 1986, where he became its youngest Vice President and was Director of High Yield Research at Kidder, Peabody Asset Management until 1990. He was awarded “Global Fixed Income Fund of the Year” in 1996 & 1997 by an offshore publication of the Financial Times and “Best Performing Fund in its Sector” by the Wall Street Journal Europe separately in 1996, 1997 and 1998. Mr. Freidheim is a member of The Council on Foreign Relations and serves on the Investment Subcommittee of the Finance and Budget Committee, a member of the Foundation Board of the Children’s Home & Aid Society of Illinois, and past President of the Yale Alumni Association of Greenwich. He graduated from Yale University with a B.A. in Economics.

John Paulson
President
Paulson & Co. Inc.

Prior to founding Paulson & Co. in 1995, Mr. Paulson was a general partner of Gruss Partners LP, a merger arbitrage specialist. In the course of his career, Mr. Paulson has dealt with a wide range of company transactions, including both friendly and hostile tender offers, mergers, divestitures, recapitalizations and other company reorganizations and financings. Mr. Paulson also worked in Bear Stearns’ mergers and acquisition practice and Odyssey Partners. Mr. Paulson has an MBA from Harvard University and a BS in finance from New York University’s College of Business and Public Administration.

Other Distinguished Speakers

William Ackman
Managing Partner
Pershing Square Capital

William A. Ackman is the founder of Pershing Square Capital Management, L.P., a registered investment adviser with hedge fund assets under management in excess of $5 billion. Prior to forming Pershing Square Capital Management, L.P., Mr. Ackman co-founded Gotham Partners Management Co., LLC, an investment adviser which managed public and private equity investments.

Mr. Ackman received an MBA from the Harvard Business School and a Bachelor of Arts from Harvard College where he graduated magna cum laude.

William N. Goetzmann
Edwin J. Beinecke Professor of Finance and Management Studies & Director of the International Center for Finance
Yale School of Management

Professor Goetzmann is an expert on a diverse range of investments, including stocks, mutual funds, real estate, and paintings. His research topics include forecasting stock markets, selecting mutual fund managers, housing as investment, and the risk and return of art. Professor Goetzmann's work has been featured in The Wall Street Journal, The New York Times, Business Week, The Economist, Forbes, and Art and Auction. Professor Goetzmann has a background in arts and media management. As a documentary filmmaker, he has written and co-produced programs for Nova and the American Masters series, including a profile of artist Thomas Eakins. A former director of Denver's Museum of Western Art, Professor Goetzmann co-authored the award winning book, The West of the Imagination.

Philip Goldstein
Co-Founder
Bulldog Investors LLC

In 1992, after working twenty-five years as a civil engineer for the City of New York, Phillip Goldstein and his partner, Steve Samuels founded what is now Bulldog Investors, a value oriented group of hedge funds that invest in closed-end funds and small cap operating companies. Bulldog Investors started with $700,000. It currently has assets of nearly $500 million. Bulldog Investors often employs activism to unlock the intrinsic value of its investments. Since 1996, Bulldog Investors has conducted about 30 proxy contests. In September 2007, it launched its first “hostile” tender offer in conjunction with a proxy contest and recently consummated its second tender offer.

Mr. Goldstein has served as a director of a number of closed-end funds and is currently a director of the Mexico Equity & Income Fund and Brantley Capital Corporation. He graduated from the University of Southern California in 1966 with a Bachelor of Engineering degree and from C.C.N.Y in 1968 with a Master of Engineering degree.

Mr. Goldstein is a widely-quoted expert on closed-end funds, hedge funds, value investing, investor activism, corporate governance and securities regulation. In 2006, Mr. Goldstein and Bulldog Investors succeeded in a legal challenge to invalidate the SEC’s controversial rule to register hedge funds. They have also challenged securities regulations that prohibit truthful non-misleading communication by companies and other market participants. In pursuit of the latter objective, Bulldog Investors is currently seeking to have a court invalidate as unconstitutional a regulation that prohibits unrestricted access to its website.

Michael Karsch
Founder
Karsch Capital Management, LP

Michael A. Karsch is the founder and portfolio manager of Karsch Capital Management, LP ("KCM"), a global long/short equity hedge fund adviser located in New York City. Mr. Karsch founded KCM in July of 2000 and currently manages approximately $3 billion in assets. Prior to founding KCM, Mr. Karsch worked at Soros Fund Management LLC as a Managing Director, where he was responsible for investments in consumer services and special situations for the Quantum Fund. From 1995 to 1998, Mr. Karsch was one of four investment professionals at Chieftain Capital Management. From 1991 to 1993, he was an investment banking analyst at Wasserstein Perella & Co. Mr. Karsch graduated Phi Beta Kappa with a B.A. from Tufts University in 1990. He obtained his Master of Arts in Law and Diplomacy from Fletcher School of Law and Diplomacy in 1991. Mr. Karsch obtained his M.B.A. from Harvard Business School in 1995.

Thomas J. Niedermeyer, Jr.
Managing Partner
Liberty Square Asset Management

Thomas Niedermeyer Jr. is Managing Partner of Liberty Square Asset Management and the Portfolio Manager primarily responsible for Asian equities. Prior to founding Liberty Square, Mr. Niedermeyer co-founded Teton Partners, one of the first hedge funds to concentrate on foreign equities, in 1991. Teton managed $800 million at the time of Mr. Niedermeyer’s departure.

Mr. Niedermeyer began his career as a salesman at Nomura International, Inc., where he worked from 1982 to 1984. He then served as Japanese equity specialist at Hoare Govett, Inc. from 1984 to 1986. From 1986 to 1989, Mr. Niedermeyer was Vice President at Salomon Brothers Inc. In 1989, he joined Morgan Stanley where he was a Principal.

Mr. Niedermeyer holds a Bachelor of Arts degree from the University of Washington.

Gautam Prakash
Founder and Managing Director
Monsoon Capital

Mr. Prakash is founder and Managing Director of Monsoon Capital. The firm currently manages Monsoon India Inflection Fund L.P., a hedge fund investing in mid-market Indian companies using a private equity-like approach. Prior to launching Monsoon Capital in 2004, Mr. Prakash was an advisor to ChrysCapital, a multi- billion dollar private equity fund based in New Delhi which invests in private and publicly-traded Indian companies.

From 1993 through 2001, Mr. Prakash was a venture capitalist, most recently serving as a General Partner at Bessemer Venture Partners (BVP) in Boston, MA. BVP is the country's oldest venture capital firm and manages over $1 billion. Mr. Prakash co-led the health care practice and served on the boards of numerous portfolio companies. He led over 20 investments primarily in healthcare services, enterprise software, and IT services. Prior to joining BVP, he worked as a management consultant for McKinsey & Company in New York from 1991 - 1993.

Mr. Prakash is the former President and Chairman of Indus Entrepreneurs (TiE), Boston chapter, and a member of the Board of Trustees of TiE Inc. TiE is a global organization devoted to the advancement of entrepreneurship, primarily among South Asians.

Mr. Prakash holds a B.S. in Molecular Biophysics and Biochemistry and a B.A. in Economics from Yale University, summa cum laude, with Distinction in Economics, graduating 1991.

Eric Rosenfeld
President and Chief Executive Officer
Crescendo Partners, L.P.

Mr. Rosenfeld has been the President and Chief Executive Officer of Crescendo Partners, L.P., a New York based investment firm, since its formation in November 1998. Prior to forming Crescendo Partners, he held the position of Managing Director at CIBC Oppenheimer and its predecessor company Oppenheimer & Co., Inc for fourteen years. He was Chairman of the Board of Spar Aerospace Limited from 1999 through 2001.

Mr. Rosenfeld is chairman of the board and chairman of the strategic planning committee of CPI Aerostructures Inc., an American Stock Exchange-listed company engaged in the contract production of structural aircraft parts principally for the United States Air Force and other branches of the U.S. armed forces. He is chairman of the board of Computer Horizons Corp., a Nasdaq listed IT services company. He is also chairman of the board and CEO of Rhapsody Acquisition Corporation. In addition, Mr. Rosenfeld is a director of Hill International, a Nasdaq listed construction management firm that went public by merging with Arpeggio Acquisition Corporation, a blank check company of which Mr. Rosenfeld was chairman, president and CEO. He is also a director of Matrikon Inc, a Toronto Stock Exchange listed company that is a provider of industrial intelligence solutions and a director of DALSA Corp., a Toronto Stock Exchange listed digital imaging and semiconductor firm.

Mr. Rosenfeld was a director of Emergis Inc., a Toronto Stock Exchange-listed electronic commerce company until its recent acquisition by Telus. He was a director of Sierra Systems Group Inc., a Toronto Stock Exchange-listed information technology, management consulting and systems integration firm until it was acquired in early 2007. He recently served as a director of the Geac Computer Corporation Limited, a Toronto Stock Exchange and Nasdaq listed enterprise software company until it was sold in 2006. Mr. Rosenfeld served as a director and head of the special committee of Pivotal Corporation, a Vancouver based customer relations management software company. Until its sale in 2004 to Kronos Incorporated, he was also a director of AD OPT Technologies, Inc., a company based in Montreal that provides advanced workforce planning, scheduling and management solutions. Mr. Rosenfeld is also chairman, president and CEO of Arpeggio Acquisition Corporation. Mr. Rosenfeld is a regular guest lecturer at Columbia Business School and he is a faculty member at the Directors College. He has served on numerous panels at Queen's University Business Law School Symposia, McGill Law School, the World Presidents' Organization, the Canadian Corporate Counsel Association Conference and the Canadian Foundation for Investor Education. He has also been a regular guest host on CNBC. Mr. Rosenfeld received an MBA from Harvard University and an AB degree in economics from Brown University.

Oscar Schafer
Managing Partner
O.S.S. Capital Management LP

Oscar is the Managing Partner of O.S.S. Capital Management LP, a private investment partnership which he co-founded in 2001. He has been a member of the Barron’s Roundtable for the past 21 years. Prior to founding O.S.S. Capital Management, Oscar was a Member of Cumberland Associates LLC, a private investment partnership with assets of approximately $1 billion, from January 1982 until December 2000. Prior to Cumberland, he was a General Partner at Steinhardt Partners, which he joined in 1970 as an analyst. From 1968 to 1970, Oscar was a portfolio manager at Boxwood Associates, one of the first domestic hedge funds. In 1966, he helped found Havenfield Corporation, a financial consulting firm. Oscar began his Wall Street career as an investment banker at Kuhn Loeb & Co. in 1964. Oscar is the President of the Daniel and Florence Guggenheim Foundation and the Fred Lavanburg Foundation and is a member of the Board of Trustees of New York-Presbyterian and member of the Board of the New York Philharmonic. Oscar graduated magna cum laude with a Bachelor of Arts degree from Harvard College in 1961 and received a Master of Business Administration degree from Harvard Business School in 1964.

Oscar has been a member of the University Club since 1994 and has served on its Council. He is an avid skier, squash and tennis player and a Commandeur in the Chevalier du Tastevin.

D. Ellen Shuman
Chief Investment Officer
Carnegie Corporation of New York

As vice president and chief investment officer of Carnegie Corporation of New York, D. Ellen Shuman oversees the management of the Corporation's $1.9 billion portfolio. She joined the Corporation to lead its emphasis on investment stewardship and is committed to maintaining a record of robust investment performance. Recruited by President Vartan Gregorian, Shuman is the first to serve the Corporation in a pure investment capacity. The Corporation maintains a highly diversified portfolio, utilizing primarily equity and equity-like asset classes and strategies to generate strong risk-adjusted returns over a long time horizon.

Before joining Carnegie Corporation, Shuman served as director of investments at Yale University, where she had responsibility for the endowment's real estate investments and capital markets activities. In addition, during her almost 15 years at Yale, Shuman taught several courses on finance and investments at the Yale School of Management and Yale College.

Shuman is a graduate of Bowdoin College where she received her B.A. and of Yale University where she earned an M.B.A. from the Yale School of Management. In addition, she was awarded the C.F.A. designation in 1992.

Shuman is active in educational and foundation organizations. She serves on the board of The Investment Fund for Foundations (TIFF) and is the vice chair of the board of trustees at Bowdoin College and a member of its investment committee. Shuman also serves as an investment advisor to the Edna McConnell Clark Foundation and to the Independent Sector.


2008 Yale SOM Investment Management Conference "Challenging Conventionality" The Yale Club of New York City, Friday, April 4th, 2008
		Keynote Speakers
	About Registration Agenda Panels Speakers Location Sponsorship Investment Management Club Contact Us Home	Stephen C. Freidheim CIO and Managing Partner Cyrus Capital Partners Stephen C. Freidheim is the CIO and Managing Partner of Cyrus Capital Partners. He was the Senior Managing Member of Och-Ziff Freidheim (OZF Capital), the predecessor company. OZF Capital was founded in August 1999 by Mr. Freidheim, Daniel S. Och and the Ziff family to manage the distressed, capital structure arbitrage, special situations and direct lending activities of Och-Ziff and OZF. He was Managing Director and Partner at Bankers Trust Company and head of its Capital Management Group from 1993 to 1999, where he was responsible for proprietary trading and client investments in high yield and distressed. In addition, he was Chief Investment Officer of Fixed Income with $30 billion in assets. He was the Director of Research and Trading and a member of Board of Directors for Nomura Corporate Research & Asset Management from 1990-93. Mr. Freidheim started his career at Kidder, Peabody in 1986, where he became its youngest Vice President and was Director of High Yield Research at Kidder, Peabody Asset Management until 1990. He was awarded “Global Fixed Income Fund of the Year” in 1996 & 1997 by an offshore publication of the Financial Times and “Best Performing Fund in its Sector” by the Wall Street Journal Europe separately in 1996, 1997 and 1998. Mr. Freidheim is a member of The Council on Foreign Relations and serves on the Investment Subcommittee of the Finance and Budget Committee, a member of the Foundation Board of the Children’s Home & Aid Society of Illinois, and past President of the Yale Alumni Association of Greenwich. He graduated from Yale University with a B.A. in Economics. John Paulson President Paulson & Co. Inc. Prior to founding Paulson & Co. in 1995, Mr. Paulson was a general partner of Gruss Partners LP, a merger arbitrage specialist. In the course of his career, Mr. Paulson has dealt with a wide range of company transactions, including both friendly and hostile tender offers, mergers, divestitures, recapitalizations and other company reorganizations and financings. Mr. Paulson also worked in Bear Stearns’ mergers and acquisition practice and Odyssey Partners. Mr. Paulson has an MBA from Harvard University and a BS in finance from New York University’s College of Business and Public Administration. Other Distinguished Speakers William Ackman Managing Partner Pershing Square Capital William A. Ackman is the founder of Pershing Square Capital Management, L.P., a registered investment adviser with hedge fund assets under management in excess of $5 billion. Prior to forming Pershing Square Capital Management, L.P., Mr. Ackman co-founded Gotham Partners Management Co., LLC, an investment adviser which managed public and private equity investments. Mr. Ackman received an MBA from the Harvard Business School and a Bachelor of Arts from Harvard College where he graduated magna cum laude. William N. Goetzmann Edwin J. Beinecke Professor of Finance and Management Studies & Director of the International Center for Finance Yale School of Management Professor Goetzmann is an expert on a diverse range of investments, including stocks, mutual funds, real estate, and paintings. His research topics include forecasting stock markets, selecting mutual fund managers, housing as investment, and the risk and return of art. Professor Goetzmann's work has been featured in The Wall Street Journal, The New York Times, Business Week, The Economist, Forbes, and Art and Auction. Professor Goetzmann has a background in arts and media management. As a documentary filmmaker, he has written and co-produced programs for Nova and the American Masters series, including a profile of artist Thomas Eakins. A former director of Denver's Museum of Western Art, Professor Goetzmann co-authored the award winning book, The West of the Imagination. Philip Goldstein Co-Founder Bulldog Investors LLC In 1992, after working twenty-five years as a civil engineer for the City of New York, Phillip Goldstein and his partner, Steve Samuels founded what is now Bulldog Investors, a value oriented group of hedge funds that invest in closed-end funds and small cap operating companies. Bulldog Investors started with $700,000. It currently has assets of nearly $500 million. Bulldog Investors often employs activism to unlock the intrinsic value of its investments. Since 1996, Bulldog Investors has conducted about 30 proxy contests. In September 2007, it launched its first “hostile” tender offer in conjunction with a proxy contest and recently consummated its second tender offer. Mr. Goldstein has served as a director of a number of closed-end funds and is currently a director of the Mexico Equity & Income Fund and Brantley Capital Corporation. He graduated from the University of Southern California in 1966 with a Bachelor of Engineering degree and from C.C.N.Y in 1968 with a Master of Engineering degree. Mr. Goldstein is a widely-quoted expert on closed-end funds, hedge funds, value investing, investor activism, corporate governance and securities regulation. In 2006, Mr. Goldstein and Bulldog Investors succeeded in a legal challenge to invalidate the SEC’s controversial rule to register hedge funds. They have also challenged securities regulations that prohibit truthful non-misleading communication by companies and other market participants. In pursuit of the latter objective, Bulldog Investors is currently seeking to have a court invalidate as unconstitutional a regulation that prohibits unrestricted access to its website. Michael Karsch Founder Karsch Capital Management, LP Michael A. Karsch is the founder and portfolio manager of Karsch Capital Management, LP ("KCM"), a global long/short equity hedge fund adviser located in New York City. Mr. Karsch founded KCM in July of 2000 and currently manages approximately $3 billion in assets. Prior to founding KCM, Mr. Karsch worked at Soros Fund Management LLC as a Managing Director, where he was responsible for investments in consumer services and special situations for the Quantum Fund. From 1995 to 1998, Mr. Karsch was one of four investment professionals at Chieftain Capital Management. From 1991 to 1993, he was an investment banking analyst at Wasserstein Perella & Co. Mr. Karsch graduated Phi Beta Kappa with a B.A. from Tufts University in 1990. He obtained his Master of Arts in Law and Diplomacy from Fletcher School of Law and Diplomacy in 1991. Mr. Karsch obtained his M.B.A. from Harvard Business School in 1995. Thomas J. Niedermeyer, Jr. Managing Partner Liberty Square Asset Management Thomas Niedermeyer Jr. is Managing Partner of Liberty Square Asset Management and the Portfolio Manager primarily responsible for Asian equities. Prior to founding Liberty Square, Mr. Niedermeyer co-founded Teton Partners, one of the first hedge funds to concentrate on foreign equities, in 1991. Teton managed $800 million at the time of Mr. Niedermeyer’s departure. Mr. Niedermeyer began his career as a salesman at Nomura International, Inc., where he worked from 1982 to 1984. He then served as Japanese equity specialist at Hoare Govett, Inc. from 1984 to 1986. From 1986 to 1989, Mr. Niedermeyer was Vice President at Salomon Brothers Inc. In 1989, he joined Morgan Stanley where he was a Principal. Mr. Niedermeyer holds a Bachelor of Arts degree from the University of Washington. Gautam Prakash Founder and Managing Director Monsoon Capital Mr. Prakash is founder and Managing Director of Monsoon Capital. The firm currently manages Monsoon India Inflection Fund L.P., a hedge fund investing in mid-market Indian companies using a private equity-like approach. Prior to launching Monsoon Capital in 2004, Mr. Prakash was an advisor to ChrysCapital, a multi- billion dollar private equity fund based in New Delhi which invests in private and publicly-traded Indian companies. From 1993 through 2001, Mr. Prakash was a venture capitalist, most recently serving as a General Partner at Bessemer Venture Partners (BVP) in Boston, MA. BVP is the country's oldest venture capital firm and manages over $1 billion. Mr. Prakash co-led the health care practice and served on the boards of numerous portfolio companies. He led over 20 investments primarily in healthcare services, enterprise software, and IT services. Prior to joining BVP, he worked as a management consultant for McKinsey & Company in New York from 1991 - 1993. Mr. Prakash is the former President and Chairman of Indus Entrepreneurs (TiE), Boston chapter, and a member of the Board of Trustees of TiE Inc. TiE is a global organization devoted to the advancement of entrepreneurship, primarily among South Asians. Mr. Prakash holds a B.S. in Molecular Biophysics and Biochemistry and a B.A. in Economics from Yale University, summa cum laude, with Distinction in Economics, graduating 1991. Eric Rosenfeld President and Chief Executive Officer Crescendo Partners, L.P. Mr. Rosenfeld has been the President and Chief Executive Officer of Crescendo Partners, L.P., a New York based investment firm, since its formation in November 1998. Prior to forming Crescendo Partners, he held the position of Managing Director at CIBC Oppenheimer and its predecessor company Oppenheimer & Co., Inc for fourteen years. He was Chairman of the Board of Spar Aerospace Limited from 1999 through 2001. Mr. Rosenfeld is chairman of the board and chairman of the strategic planning committee of CPI Aerostructures Inc., an American Stock Exchange-listed company engaged in the contract production of structural aircraft parts principally for the United States Air Force and other branches of the U.S. armed forces. He is chairman of the board of Computer Horizons Corp., a Nasdaq listed IT services company. He is also chairman of the board and CEO of Rhapsody Acquisition Corporation. In addition, Mr. Rosenfeld is a director of Hill International, a Nasdaq listed construction management firm that went public by merging with Arpeggio Acquisition Corporation, a blank check company of which Mr. Rosenfeld was chairman, president and CEO. He is also a director of Matrikon Inc, a Toronto Stock Exchange listed company that is a provider of industrial intelligence solutions and a director of DALSA Corp., a Toronto Stock Exchange listed digital imaging and semiconductor firm. Mr. Rosenfeld was a director of Emergis Inc., a Toronto Stock Exchange-listed electronic commerce company until its recent acquisition by Telus. He was a director of Sierra Systems Group Inc., a Toronto Stock Exchange-listed information technology, management consulting and systems integration firm until it was acquired in early 2007. He recently served as a director of the Geac Computer Corporation Limited, a Toronto Stock Exchange and Nasdaq listed enterprise software company until it was sold in 2006. Mr. Rosenfeld served as a director and head of the special committee of Pivotal Corporation, a Vancouver based customer relations management software company. Until its sale in 2004 to Kronos Incorporated, he was also a director of AD OPT Technologies, Inc., a company based in Montreal that provides advanced workforce planning, scheduling and management solutions. Mr. Rosenfeld is also chairman, president and CEO of Arpeggio Acquisition Corporation. Mr. Rosenfeld is a regular guest lecturer at Columbia Business School and he is a faculty member at the Directors College. He has served on numerous panels at Queen's University Business Law School Symposia, McGill Law School, the World Presidents' Organization, the Canadian Corporate Counsel Association Conference and the Canadian Foundation for Investor Education. He has also been a regular guest host on CNBC. Mr. Rosenfeld received an MBA from Harvard University and an AB degree in economics from Brown University. Oscar Schafer Managing Partner O.S.S. Capital Management LP Oscar is the Managing Partner of O.S.S. Capital Management LP, a private investment partnership which he co-founded in 2001. He has been a member of the Barron’s Roundtable for the past 21 years. Prior to founding O.S.S. Capital Management, Oscar was a Member of Cumberland Associates LLC, a private investment partnership with assets of approximately $1 billion, from January 1982 until December 2000. Prior to Cumberland, he was a General Partner at Steinhardt Partners, which he joined in 1970 as an analyst. From 1968 to 1970, Oscar was a portfolio manager at Boxwood Associates, one of the first domestic hedge funds. In 1966, he helped found Havenfield Corporation, a financial consulting firm. Oscar began his Wall Street career as an investment banker at Kuhn Loeb & Co. in 1964. Oscar is the President of the Daniel and Florence Guggenheim Foundation and the Fred Lavanburg Foundation and is a member of the Board of Trustees of New York-Presbyterian and member of the Board of the New York Philharmonic. Oscar graduated magna cum laude with a Bachelor of Arts degree from Harvard College in 1961 and received a Master of Business Administration degree from Harvard Business School in 1964. Oscar has been a member of the University Club since 1994 and has served on its Council. He is an avid skier, squash and tennis player and a Commandeur in the Chevalier du Tastevin. D. Ellen Shuman Chief Investment Officer Carnegie Corporation of New York As vice president and chief investment officer of Carnegie Corporation of New York, D. Ellen Shuman oversees the management of the Corporation's $1.9 billion portfolio. She joined the Corporation to lead its emphasis on investment stewardship and is committed to maintaining a record of robust investment performance. Recruited by President Vartan Gregorian, Shuman is the first to serve the Corporation in a pure investment capacity. The Corporation maintains a highly diversified portfolio, utilizing primarily equity and equity-like asset classes and strategies to generate strong risk-adjusted returns over a long time horizon. Before joining Carnegie Corporation, Shuman served as director of investments at Yale University, where she had responsibility for the endowment's real estate investments and capital markets activities. In addition, during her almost 15 years at Yale, Shuman taught several courses on finance and investments at the Yale School of Management and Yale College. Shuman is a graduate of Bowdoin College where she received her B.A. and of Yale University where she earned an M.B.A. from the Yale School of Management. In addition, she was awarded the C.F.A. designation in 1992. Shuman is active in educational and foundation organizations. She serves on the board of The Investment Fund for Foundations (TIFF) and is the vice chair of the board of trustees at Bowdoin College and a member of its investment committee. Shuman also serves as an investment advisor to the Edna McConnell Clark Foundation and to the Independent Sector.

Keynote Speakers

John Paulson President Paulson & Co. Inc.

Other Distinguished Speakers

John Paulson
President
Paulson & Co. Inc.