The HedgeFund Source Expo and Conference
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The HedgeFund Source Expo and Conference Presentation Transcript

  • 1. The Hedge Fund Service Expo and Conference   June 2008
  • 2. Alpha Equity Management Organizational Structure Strategic Partnership with RidgeWorth Capital:
    • $74B asset management subsidiary of SunTrust Banks Inc., a top 10 US bank
    • Seeded three 130/30 mutual funds
    Joint Venture with The Praedium Group:
    • $7B private equity firm with 16+ years of private real estate investment experience
    • JV includes 130/30 and mkt. neutral U.S. real estate securities funds and related SMAs
    • 75% employee-owned
    • 25% owned by RidgeWorth Capital
    Alpha Equity Management Ownership :
  • 3. Alpha Equity Products 130/30 Style Hedge Funds Market Neutral Hedge Funds Long/Short Hedge Funds Alpha Praedium Market Neutral Global Market Neutral Global Long/Short* Alpha Praedium 130/30 U.S. Market Neutral U.S. 200/100 U.S. Equity International Market Neutral International 130/30 International Equity Global Equity Real Estate Equity 130/30 Mutual Funds RidgeWorth International Equity 130/30 RidgeWorth Real Estate 130/30 RidgeWorth U.S. Equity 130/30
  • 4. *Annualized Alpha *Annualized Benchmark Return *Annualized Fund Net Return Fund Performance Summary
  • 5. Investment Process
    • Quantitative
      • Multifactor models for each asset class
      • Dynamic factor weighting
      • Daily rebalancing
      • Dynamic leverage policy
    • Fundamental
      • Factors are fundamentally-based
      • Final oversight by portfolio managers
    • Process
      • Stable
      • Systematic
      • Scalable
  • 6. Alpha Equity International 130/30 Fund Securities Universe: FTSE All-World ex US Note on the Benchmark and Universe: The fund Benchmark changed from the Bank of New York ADR Index to the FTSE All-World xUS Index on 1/1/2007 to reflect the expansion of the portfolio’s composition. Through November 2006, our universe consisted of the 650 most liquid ADRs and US GDRs.  On December 1, 2006, our universe expanded to include 4,000 of the most liquid common equity shares on local exchanges in the global markets ex-US.  Data referring to the “Benchmark” refers to the Benchmark that was in effect at the time in question. Note on Returns: “Net Fund” returns are net of a high watermark until 1/1/2007
  • 7. Alpha Equity International Market Neutral Fund Securities Universe: FTSE All-World ex US Note on the universe: Through November 2006, our universe consisted of the 650 most liquid ADRs and US GDRs.  On December 1, 2006, our universe expanded to include 4,000 of the most liquid common equity shares on local exchanges in the global markets ex-US.  Note on Returns: “Net Fund” returns are net of hurdle rate of the 1 Yr. T-bill Yield and 1% management fee until 11/1/05.
  • 8. Alpha Praedium 130/30 Fund Securities Universe: Largest 200 US REIT Stocks Note on the Benchmark: The fund Benchmark is the FTSE NAREIT Equity REITs Index Note on Returns: “Net Fund” returns are net of a high watermark until 1/1/2008.  
  • 9. Alpha Praedium Market Neutral Fund Securities Universe: Largest 200 US REIT Stocks Note on Returns: “Net Fund” returns are net of a hurdle rate of the 1 Yr. T-bill Yield until 1/1/2008.  
  • 10. Alpha Equity Leveraged Market Neutral Fund Securities Universe: Largest 3000 US Stocks Note on Return: “Net Fund” return is net of a hurdle rate of the 1 Yr. T-bill Yield until 1/1/2008.  
  • 11. Alpha Equity Global Long/Short Fund Note on Return: “Net Fund” return is net of a hurdle rate of a blended benchmark until 4/1/2007.  
  • 12. Alpha Equity Global Market Neutral Fund Note on Return: “Net Fund” return is net of a hurdle rate of the 1 Yr. T-bill Yield until 1/1/2008.  
  • 13. Outperforming the Competition
    • 1 st for 36-month compounded annual return
    BAID (Barclay Alternative Investment Database) Ranking through Feb 2008 .
    • 1 st for 12-month compounded annual return
    • 10 th for 36-month compounded annual return
    Alpha Equity Real Estate Securities “130/30” (now known as the Alpha Praedium 130/30) Alpha Equity Real Estate Securities Market Neutral (now known as the Alpha Praedium Market Neutral) The Barclay Hedge Alternative Investment Database ranks Alpha Equity Real Estate Securities “130/30” and Real Estate Securities Market Neutral as two of the best real estate hedge funds. Top 10 Sector – Real Estate Hedge Funds From Mar-2007 to Feb-2008 Ranked by Compound Annual return Program Name or Manager 12-Mo. Comp Ann. Return 1. Alpha Eq R/E Sec Mkt Ntrl Fund 14.19% 2. Value Fund II LP 13.28% 3. Marathon Real Estate Opportunity 11.02% 4. Skylight Capital Build-Up GBP 10.17% 5. ING Clarion Mkt Ntrl. LP 4.31% 6. ING Clarion Global LP 2.89% 7. Third Avenue Real Estate Opp LP 8.49% 8. ING Clarion Global Ltd 7.04% 9. CRM Windridge Partners LP 6.29% 10.CRM Windridge Fund Ltd 5.80% From Mar-2005 to Feb-2008 Ranked by Compound Annual Return Program Name or Manager 36-Mo. Comp Ann. Return 1. Alpha Equity Real Estate Sec. 16.39% 2. Skylight Capital Build-Up GBP 14.62% 3. Marathon Real Estate Opportunity 14.19% 4. Thames River Prop Growth & Inc GBP Dbn 12.80% 5. Thames River Prop Growth & Inc GBP Acc 12.76% 6. Thames River Prop Growth & Inc EUR Dbn 10.98% 7. Thames River Prop Growth & Inc EUR Acc 10.88% 8. LIM Asia Alt Real Estate Fund 9.29% 9. ING Clarion U.S. LP 8.64% 10.Alpha Eq R/E Sec Mkt Ntrl Fund 8.64%
  • 14.
    • Experienced People
      • Investment team together since 1994
      • Managed $22 billion at former employer
      • Full institutional infrastructure
    • Solid Process
      • Repeatable: structured and disciplined
      • Flexible: automatically adjusts to the market
    • Outstanding Performance
      • Alpha across all products
      • Alpha from both longs and shorts
      • Alpha from exposure to return factors, not risk factors
    Our Edge - Three “P’s”
  • 15. Fund Terms None Lock-up Monthly Redemptions $1 million Investment Minimum KPMG Auditor Morgan Stanley Prime Broker MadisonGrey Offshore Administrator MadisonGrey Onshore Administrator Edwards Angell Palmer & Dodge Legal Counsel British Virgin Islands Offshore Legal Domicile Delaware Onshore Legal Domicile
  • 16. Contact Information
    • Hartford Office
    • 90 State House Square
    • Suite 1100
    • Hartford, CT 06103
    • Tel. (860) 218-1520
    New York Office 405 Park Avenue Suite 803 New York, NY 10022 Tel. (646) 708-9396 [email_address]
  • 17. Disclaimer
    • This document is for informational purposes only, and it does not constitute an offer or solicitation to buy the limited partnership interests described herein. Any such offer or solicitation will only be made to qualified investors solely by means of a private offering memorandum and only where permitted by law.
    • Before making an investment decision with respect to the partnership, potential investors are advised to carefully read the private offering memorandum, the limited partnership agreement and the related subscription documents and to consult with their tax, legal and financial advisors.
    • This document contains a preliminary summary of the purpose of the partnership and the principal business terms of the partnership; this summary does not purport to be complete and is qualified in its entirety by reference to the more detailed discussion contained in the private offering memorandum and the actual text of the limited partnership agreement.
    • This document is being provided to you on a confidential basis solely to assist you in deciding whether or not to proceed with further investigation of the investment vehicles of Alpha Equity Management LLC. Accordingly, this document may not be reproduced in whole or in part and may not be delivered to any person without prior written consent of Alpha Equity Management LLC.