Explore Opportunities and Challenges for Hedge Funds in the Year Ahead.

Explore Opportunities and Challenges for Hedge Funds in the Year Ahead.

At the second annual Private Funds Forum, Bloomberg BNA and Seward & Kissel will convene leading hedge funds to discuss the latest strategies and developments for fund managers.

Today’s hedge fund managers face a host of challenges. Political uncertainty is high, and both regulators and investors are placing on funds an unprecedented degree of scrutiny.

In addition to hosting a fund manager roundtable, the Forum will explore strategies for confronting both business and regulatory challenges impacting the industry, including:

  • Regulatory and enforcement outlook
  • Tax and ERISA developments
  • The evolving investor and overall business landscape
  • New fund terms and changes in fund structures

Event has reached capacity. Registration is closed.

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September 15, 2016
3:30 PM – 7:00 PM


NYU Skirball Center
566 LaGuardia Place
New York, NY 10012

Continuing Education Credits:

Earn up to 2.0 CLE credits


3:30 PM    Registration

3:55 PM    Welcome Remarks
Scott Mozarsky, President, Cross Platform Businesses, Bloomberg BNA

Opening Remarks
Patricia Poglinco and Robert Van Grover, Partners, Seward & Kissel

4:00 PM    What Fund Managers Should Worry About
Topics discussed will include SEC/DOJ enforcement trends and SEC exams key takeaways.

Rita Glavin, Partner, Seward & Kissel
Joseph Morrissey, Partner, Seward & Kissel
Laura Roche, Chief Operating Officer and Chief Financial Officer, Roystone Capital Management
Scott Sherman, General Counsel, Tiger Management

Moderator: Patricia Poglinco, Partner, Seward & Kissel

4:40 PM    Adapting to a Changing Regulatory & Business Environment
Topics discussed will include responding to global legal and regulatory changes, cybersecurity issues, changes to partnership audit rules, impact of proposed rules, and fundraising in the new environment.

James Cofer, Partner, Seward & Kissel
David Mulle, Partner, Seward & Kissel
Richard Perry, Partner, Simmons & Simmons
Matthew B. Siano, Esq., Managing Director, General Counsel, Two Sigma Investments
Mark Strefling, General Counsel, Chief Operating Officer, Whitebox Advisors

Moderator: Robert Van Grover, Partner, Seward & Kissel

5:20 PM    Fund Manager Roundtable
Hear from top hedge fund managers on the opportunities and challenges in the year ahead.

Aaron Cowen, Chief Investment Officer, Suvretta Capital Management
Mark J. Kenyon, Chairman and Chief Investment Officer, KStone Partners
Greg Lippmann, Chief Investment Officer, LibreMax Capital
Parag Vora, Founder and Portfolio Manager, HG Vora Capital Management

Moderator: Erik Schatzker, Anchor and Editor-at-large, Bloomberg Television

6:00 PM    Closing Remarks and Networking Reception
Steven Nadel, Partner, Seward & Kissel



James C. Cofer is a partner in the Tax Group.

Jim represents private investment funds (including hedge funds, funds of funds, and private equity funds) and mutual funds on a variety of tax issues, including initial structuring, investments by tax-exempt entities, investments in underlying funds, transactional matters, financial instruments, seed capital arrangements, and deferred compensation structures (including Section 409A of the Internal Revenue Code).

Jim also works closely with fund managers on management company tax planning, including incentive compensation arrangements for key employees, outside investments in management companies, and sales to third parties.

In addition to his investment funds practice, Jim represents international and domestic shipping companies on all aspects of their operations. Jim advises shipping companies on Section 883 of the Internal Revenue Code, joint ventures, cross-border transactions, the controlled foreign corporation and passive foreign investment company rules, internal restructurings, and the U.S. tonnage tax regime. Jim has also represented numerous shipping companies (including MLPs) in their public offerings of equity and debt securities, as well as the underwriters of such offerings.

He received a B.A. (with high honors) from Rutgers University, a J.D. from New York University School of Law, and an LL.M. (in Taxation) from New York University School of Law.


Aaron Cowen is the Founder and Portfolio Manager of Suvretta Capital Management, a $2.5 billion hedge fund in its fifth year of operation. Suvretta is focused on generating positive absolute returns in a variety of market environments primarily investing in equity securities, both long and short, with an emphasis on an “industry before company” investment philosophy. Mr. Cowen has over 19 years of experience as a Portfolio Manager and Research Analyst. Prior to forming Suvretta, he served as a Portfolio Manager at Soros Fund Management where he independently managed the largest long/short equity portfolio with AUM of $800 million and more than $1 billion in gross exposure. While at Soros Fund Management, Mr. Cowen also advised CIO Keith Anderson on managing a larger center book of equities and led a team of research analysts.

From 2008 to 2010, Mr. Cowen served as the Chief Investment Officer at SAC Capital Management where he co-managed the multi-billion dollar central investment portfolio with founder, Steven Cohen. From 2002 to 2008, he was a Partner and Managing Director at Karsch Capital Management where he played an integral role in growing AUM from $230 million to $3.3 billion and managed a significant portion of the capital. From 1994 to 2001, Mr. Cowen worked as a Research Analyst at Fidelity Investments, The Baupost Group, and Lehman Brothers.

Mr. Cowen graduated Summa Cum Laude with a BS degree in Finance and a BSE degree in Bioengineering from The Wharton School at the University of Pennsylvania in 1994. He also earned an MBA from MIT Sloan School of Management in 2002.


Rita M. Glavin is a partner in the Litigation group and co-head of the Government Enforcement and Internal Investigations practice. She advises companies around the globe on regulatory and security issues, including the FCPA, U.S. securities laws, the Bank Secrecy Act, False Claims Act, Anti-Kickbacks Statute, economic espionage, and cyber-crime. She has represented both companies and individuals in criminal and civil enforcement investigations, including matters dealing with insider trading, money laundering, securities law violations, LIBOR manipulation, RMBS and CDO matters, FCPA violations, antitrust violations, OFAC and IEEPA issues, public corruption matters, campaign finance violations, ERISA violations, fraud, and theft of trade secrets. Ms. Glavin is also a seasoned trial lawyer, having been trial counsel in 20 federal jury trials, and handling numerous appeals. She serves on the federal Criminal Justice Act panel for the Southern District of New York representing indigent defendants in federal criminal proceedings.

Ms. Glavin brings extensive experience to white collar and enforcement matters. Prior to entering private practice in 2010, she worked for almost 12 years in the U.S. Department of Justice and served as head of the DOJ’s Criminal Division in 2009, where she supervised more than 400 attorneys in enforcing federal law in such areas as the FCPA, corporate crimes, health care fraud, campaign finance, public corruption, money laundering, securities fraud, cyber-crime, and mortgage fraud. In her leadership roles at DOJ, Ms. Glavin worked extensively on corporate and financial crime issues with the leadership at other federal agencies including the SEC and Department of the Treasury, and she interacted regularly with Congress, coordinating DOJ’s response to various Congressional inquiries and testifying before the Senate Judiciary Committee, the House Judiciary Committee, and the House Financial Services Committee.

Before taking on leadership positions at the DOJ Criminal Division, Ms. Glavin served as a federal prosecutor with the DOJ’s Public Integrity Section from 1998 to 2003, and from 2003 to 2010 she was an Assistant U.S. Attorney in the Southern District of New York. As a line prosecutor, she personally handled hundreds of criminal investigations and prosecutions.

Ms. Glavin began her legal career as a Law Clerk to the Honorable John F. Keenan, Southern District of New York, where she worked from 1996 to 1998. She has been a Director for Fordham Law School’s Alumni Association Board since 2008, and she is a member of the Association of the Bar of the City of New York’s White Collar Crime Subcommittee.

Ms. Glavin has been named a New York “Super Lawyer” and one of the “Top Women Attorneys” in the New York Metro Area, and is included in Who's Who: Business Crime Defense (2016) . Her practice group was also recognized by U.S. News & World Report’s “Best Law Firms” Survey for New York City. In 2009, she was named as one of Washington’s “40 Under 40 Rising Stars” by the National Law Journal.


Mark Kenyon is currently Chairman and CIO of KStone Partners, LLC, an investment advisor which specializes in managing low volatility, diversified funds of hedge funds that primarily invest in niche, credit-related arbitrage and relative value strategies.

Mr. Kenyon was the founder and lead executive at two highly successful fund-of-hedge-fund enterprises. In 1998, he founded UBP Asset Management, where he built the firm from startup to $15 billion in assets under management. He sold his minority stake back to UBP in 2007.

After functioning for several years as the CFO at The Blackstone Group in the late 1980’s, Mr. Kenyon co-founded Blackstone Alternative Asset Management (BAAM) in 1992. He was instrumental in the creation and build-out of their fund-of-funds platform.


Mr. Lippmann is a Co-Founder, CIO and Portfolio Manager of LibreMax. He chairs LibreMax's investment committee and is a member of its risk committee. Prior to co-founding LibreMax in October 2010, Mr. Lippmann was Head of all non-agency RMBS, ABS and CDO Trading globally at Deutsche Bank, where he led a team of 30 senior professionals in New York and London. Mr. Lippmann began his career at Deutsche Bank as a trader of non-investment grade ABS and RMBS securities. In 2003, he became Global Head of ABS and CDO trading, adding non-agency MBS to his business in late 2008. Prior to joining Deutsche Bank in 2000, Mr. Lippmann was a Director and Head of ABS/MBS Subordinate and CDO trading at Credit Suisse, which he joined in 1991. Mr. Lippmann graduated from the University of Pennsylvania in 1991, magna cum laude, with a BA in Economics and a minor in English.


Joseph M. Morrissey is a partner in the Investment Management Group at Seward & Kissel LLP. Mr. Morrissey works with sponsors and managers of various private investment funds and other pooled investment vehicles, including private equity funds, hedge funds, funds of funds, commodity pools, and various "hybrid" funds. In particular, Mr. Morrissey focuses on fund formation and structuring, the offering of interests by private investment funds, and the negotiation and documentation of such investments. Mr. Morrissey has significant experience in organizing both domestic and offshore partnerships and other investment vehicles, including separately managed accounts. Mr. Morrissey also represents fund sponsors in connection with seed-capital investments and represents funds of funds and other institutional investors in connection with their investments in private funds. Mr. Morrissey regularly counsels investment advisers, commodity pool operators and commodity trading advisors on regulatory and compliance matters, including the development of comprehensive compliance programs and in connection with applicable regulatory examinations. On the transaction side, Mr. Morrissey represents these clients in connection with their investment activities, including private equity and venture capital transactions, joint ventures and PIPEs transactions.

Mr. Morrissey is a Member of the Private Investment Funds Committee of the Association of the Bar of the City of New York.

Mr. Morrissey received a B.A. from Drew University and a J.D. from Fordham University School of Law.


Scott Mozarsky joined Bloomberg BNA in March 2014 as President, Cross Platform Businesses. Previously, Scott held a number of leadership roles during a13-year tenure in the UBM plc Group. As President – Media & Marketing Services for UBM Tech, Scott was responsible for building the marketing services business and driving the evolution of leading websites Information Week.com, EE Times, Dr. Dobbs Journal and Light Reading to an online community model tied to UBM Tech’s live events.

As EVP, Chief Commercial Officer of UBM subsidiary PR Newswire, Mozarsky oversaw commercial activities worldwide. Mozarsky also served as EVP and Chief Operating Officer of CMP Media. From 2002-2009, he served as General Counsel and headed up M&A and corporate development globally for UBM’s subsidiaries in North America and Latin America.

Mozarsky earned his Bachelor of Arts degree in Political Science from Williams College and his J.D. from Fordham Law School.


David R. Mullé is a partner in the Investment Management Group at Seward & Kissel LLP. David works with sponsors and managers of various private investment funds and other pooled investment vehicles, including hedge funds, funds of funds, commodity pools, private equity funds and various "hybrid" funds. In particular, David focuses on fund formation and structuring, the offering of interests by private investment funds, and the negotiation and documentation of such investments.

David has significant experience working closely with investment managers to formulate their goals in unlocking shareholder value and designing legal strategies to achieve those goals. He also focuses on regulatory filings required under Sections 13(d) and 16 of the Exchange Act of 1934, as amended, including potential short-swing profit issues.

David organizes both domestic and offshore partnerships and other investment vehicles, including separately managed accounts. He also represents fund sponsors in connection with seed-capital investments and represents funds of funds, family offices and other institutional investors in connection with their investments in private funds. David regularly counsels investment advisers, commodity pool operators, commodity trading advisers and family offices on regulatory and compliance matters, including registration requirements and available exemptions, the development of comprehensive compliance programs and regulatory examinations.

David received a B.A. and an M.A. from The Johns Hopkins University and J.D. from the University of Michigan.


Steve is a partner in Seward & Kissel’s Investment Management Group. He joined the Firm in 1997. He is also the founding editor of The Private Funds Report and The Private Funds Bullet Report, two Group newsletters.

Steve has extensive experience in issues relating to the establishment and ongoing operation of hedge funds, funds of funds (U.S. and offshore), private equity funds, separate accounts, registered investment advisers, commodity pool operators and commodity trading advisors, as well as related matters, including management company structuring, fund marketing, employment agreements, solicitation agreements, joint ventures, seed capital arrangements, regulatory compliance and general organizational matters.

Steve’s strategic, practical, highly responsive approach is well known throughout the industry. Through his large network, he is able to source practical industry trends, which he seeks to impart in addition to his legal guidance. He represents a wide variety of clients ranging from startup entrepreneurs to very large, prominent institutions, and he is considered by the various services providers in the space (including accountants and brokers) to be one of the premier attorneys in the alternative investment management arena.

Steve wrote a chapter on U.S. private investment fund regulation for the book entitled The Capital Guide to Alternative Investment, as well as for The Review of Securities & Commodities Regulation. He has also authored the following investment management articles: Foresight for Established Managers, Law 360, June 2010; The Expansion of Hedge and Private Equity Funds, Law 360, May 2010; How to Reinvigorate Investment in Hedge Funds, HedgeWorld.com, July 2009; Hedge Funds Affected by New Rules, 2009 Hedge Fund Industry Report;State Level Investment Adviser Registration, Private Investment Forum, Fourth Quarter 2001; The Principal Elements of Private Equity, Private Asset Management, May 3, 1999; An Accountant’s Guide to the Major Legal Issues Affecting Hedge Funds, The CPA Journal, October 1998; and Becoming an SEC-Registered Investment Adviser: Understanding What’s Really Involved, Hedge Views, Summer 1998. Steve is a highly sought after lecturer who speaks regularly on various investment management topics, and who is also often quoted in many leading business and legal publications, including the New York Times, the Wall Street Journal and Bloomberg. He is listed in the Super Lawyers New York-Metro edition. He also previously taught a course at the New York Institute of Finance titled, "How to Start a Hedge Fund."

Steve is a member of the American Bar Association and the New York State Bar Association. Steve also sits on the Boards of Directors of the charities Hedge Funds Care and the RBaby Foundation.


Richard Perry is a partner at Simmons & Simmons LLP and heads the firm’s financial services group in London. Richard specializes in transactional, advisory and regulatory work in the asset management sector. He is a named investment fund specialist in all the leading legal directories. He advises on the structuring of funds of all types and the promotion of investment products, especially hedge funds. He is also an expert on Alternative Investment Fund Managers Directive related issues.


Patricia A. Poglinco is a partner in and co-head of Seward & Kissel's Investment Management group. Pat joined Seward & Kissel in 1986 and has been a partner since 1994.

Pat’s practice specialties include the representation of investment advisers and related regulatory compliance; the formation and representation of private investment partnerships, group trusts and various offshore investment vehicles; the formation and CFTC registration of commodity pools, commodity pool operators and commodity trading advisors; the formation and ongoing representation of registered investment companies (open-end and closed-end funds) and their managers, distributors,underwriters and other service providers; and general securities and general corporate matters.


Ms. Roche joined the founding team at Roystone Capital in October, 2012 and serves as Chief Operating Officer and Chief Financial Officer. Upon joining Roystone, Ms. Roche was responsible for fully developing and implementing the firm’s financial and business operations, as well as the infrastructure, technology platform and business continuity and disaster recovery plans. Ms. Roche has also been chiefly involved in the creation and implementation of Roystone’s comprehensive compliance program. Immediately prior to joining Roystone she served as Chief Financial Officer of Atwater Capital, where she also joined pre-launch. Before her time at Atwater, Ms. Roche worked as Chief Financial Officer at Cadmus Capital and Edge Capital. Prior to working at Edge Capital she served as a Senior Associate and Team Leader in the prime brokerage group at Morgan Stanley & Co. Ms. Roche began her career at Ernst & Young LLP in its investment partnership group in New York. She received an M.B.A. in Finance from New York University’s Stern School of Business and a B.S. in Accounting from Fordham University. She is a Certified Public Accountant. She serves on the Advisory Board of Fordham University’s Gabelli School of Business and is the Treasurer of Stoked, a not for profit organization serving at risk youth in New York and Los Angeles.


Erik Schatzker hosts conversations with the world's most powerful, interesting and influential executives, investors, financiers and policymakers for Bloomberg Television. His recent interviews include Bridgewater's Ray Dalio, SEC Chair Mary Jo White and Barclays CEO Jes Staley.

Schatzker has a deep background in business news and years of experience covering many of the most demanding topics in finance and the biggest stories on Wall Street, from the dot-com bubble to the subprime-mortgage meltdown to the rise of hedge fund activism. Over two decades his assignments in pursuit of original reporting have taken him from anti-government protests in Athens to Western Australia's offshore gas fields.

The same interviewing skills that Schatzker puts to work on camera have made him an in-demand moderator at events ranging from the World Economic Forum in Davos, Switzerland, to the Milken Global Conference in Los Angeles. At Bloomberg Schatzker also co-chairs the Markets Most Influential Summit, an annual conference that brings together the top newsmakers in finance.

Prior to joining Bloomberg Television in 2007, Schatzker led Bloomberg's print coverage of financial services in the Americas. He began his career with the South Pacific Mail in Santiago, Chile, and served as a correspondent in Santiago and Toronto for Knight-Ridder Financial/Bridge News before starting with Bloomberg as a technology reporter in 1998. Schatzker's past positions with Bloomberg include Toronto Bureau Chief and Senior Writer for Bloomberg Markets magazine.

Schatzker earned a bachelor's degree in history from the University of Toronto. He's based in New York City.


Scott Sherman is General Counsel and Chief Legal Officer of Tiger Management L.L.C. and Tiger Management Advisors L.L.C. Mr. Sherman joined Tiger Management in April 2016 from The Blackstone Group, where he was a Managing Director focusing on the legal structuring of the group’s multi-manager portfolios as well as the review, analysis and negotiation of underlying hedge fund manager investments. Before joining Blackstone in 2003, Mr. Sherman worked in the Corporate Department of Willkie Farr & Gallagher, a New York based international law firm, where he was involved with numerous legal issues, including the structuring and regulatory compliance of hedge funds and managed futures funds. Mr. Sherman received a JD from Columbia Law School, an MBA from Columbia Business School and a BA from Duke University. Mr. Sherman is a senior fellow of the Regulatory Compliance Association, and a member of the board of directors of the Purchase Community House and The Food Bank of Westchester.


Matthew B. Siano, Esq. is Managing Director, General Counsel of Two Sigma Investments, LP and Two Sigma Advisers, LP, a pair of global investment managers specializing in quantitative investing across a broad range of asset classes. Two Sigma and its various affiliates currently manage numerous hedge funds, private investment pools, registered funds and managed accounts with over $34 billion in assets under management. As Two Sigma’s General Counsel, Mr. Siano is responsible for the firm’s legal, regulatory and compliance matters and is the head of both their legal and compliance departments. Mr. Siano joined Two Sigma in July 2004.

From September 1999 through June 30, 2004, Mr. Siano was an associate in the Investment Management Group of Seward & Kissel LLP, a New York City-headquartered law firm with an industry-leading hedge fund practice. At Seward, Mr. Siano specialized in the formation and structuring of private investment funds (including hedge funds and private equity funds), representing registered and unregistered investment advisers, listing private investment funds on non-U.S. exchanges, advising clients on SEC, CFTC and FINRA filings, and providing overall corporate, securities and tax advice.

Mr. Siano graduated cum laude from the College of William and Mary in 1996 with a B.A. in Government and History. While in Williamsburg, he also minored in Religion and published an honors thesis on the New York City public school system. In 1999, Mr. Siano earned a J.D. from Fordham Law School, where he was the Special Publications Editor for the Urban Law Journal and a member of the Fordham Moot Court Board.

Mr. Siano is also an adjunct professor in the undergraduate business school of the College of William and Mary, where he teaches a seminar course on the management of hedge funds. He has also been an active industry speaker at events hosted by the American Bar Association, Fordham Law School, the Corporate Lawyering Association and various U.S. and international law firms.


Mark Strefling joined Whitebox in 2008 as the firm’s General Counsel and Chief Legal Officer and was named Chief Operating Officer in 2013. He is responsible for all legal and regulatory matters for Whitebox Advisors and each of the investment funds managed by Whitebox. As Chief Operating Officer, Mr. Strefling is responsible for the management and oversight of all operational matters. Prior to joining Whitebox, Mr. Strefling was a Partner in the Investment Management Practice at the law firm of Faegre & Benson LLP in Minneapolis and was head of the firm's Hedge Fund Group. Mr. Strefling joined Faegre & Benson in 1999. Mr. Strefling received a BA, cum laude (1991) in Finance and Accounting from the University of St. Thomas; a JD, magna cum laude (1996) from Creighton University and an MBA (1999) in Finance from the Carlson School of Management at the University of Minnesota.


Robert B. Van Grover is a partner in and co-head of Seward & Kissel’s Investment Management Group. He joined the Firm in 1997.

Rob specializes in the formation and representation of private funds (U.S., offshore, single and multi-strategy, fund of funds and private equity), investment advisers (federal or state registered and non-registered), broker-dealers, commodity pool operators and commodity trading advisers. Rob advises clients on a wide variety of securities, tax and business law matters relating to the investment management business, including compliance and regulatory matters, fund and management company structuring, counseling on mergers and acquisitions, buy-sell agreements, employment matters, non-compete and confidentiality agreements, marketing and distribution arrangements and presentation materials, joint ventures, seed capital arrangements, soft dollar and other brokerage arrangements, and general organizational matters.

Rob is a contributing author to Hedge Funds: Law and Regulation (Sweet & Maxwell 2001) (chapter entitled, "U.S. Legal and Regulatory Issues Faced by Offshore Funds and Their Sponsors") and has authored articles on various investment management topics. Rob is a frequent speaker on "hedge fund" and investment management related issues.

Rob is a member of the American Bar Association (Business Section) and the International Bar Association.


Parag Vora is the Founder and Portfolio Manager of HG Vora Capital Management, and oversees investment, strategic and business decisions. Prior to forming HG Vora, Parag was a senior investment professional at Silver Point Capital, a multi-strategy hedge fund, where he focused on investing across the capital structure of public and private companies with an emphasis on credit and event driven situations. Prior to Silver Point, he was a Vice President in Goldman Sachs Real Estate Investment Banking Division where he advised real estate and consumer oriented businesses on mergers and acquisitions and leveraged finance transactions. Parag holds a Bachelor of Arts degree from the University of Michigan and also received a Juris Doctor cum laude and Master of Business Administration from New York University.


Download the two-part Seward & Kissel Private Funds Forum Analyzes Trends in Hedge Fund Seeding Arrangements and Fee Structures articles on the 2015 Private Funds Forum.

A hedge fund manager must keep abreast of current trends in hedge fund structures and terms in order to raise capital from investors, anticipate prospective changes in the marketplace and adapt accordingly. At the 2015 Seward & Kissel Private Funds Forum, panelists discussed key capital raising and fund structuring trends in the hedge fund industry. Part one of the two-part series summarizes the panelists’ discussion of seeding arrangements and fee structures as well as the impact of ERISA and taxation considerations upon hedge fund structuring. The second part explores the use of special fund structures, activist strategies and alternative mutual funds.

Download the articles>>


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