The document summarizes an awards ceremony held on October 13, 2011 in New York City to recognize top performing hedge funds. There were close to 700 guests in attendance and 34 awards given out across various hedge fund strategies and categories. The event celebrated the achievements of funds that outperformed their peers during a difficult time for the global economy. Congratulations were given to all the winners.

1. FEATURE HFMWEEK AWARDS 2011
AWARDS
2011
US PERFOR M ANCE AWARDS
T H U R S D AY 1 3 O C T O B E R 2 0 1 1
CIPRIANI, NEW YORK
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 difficult
period for the global
economy. Congratulations
to them all.
16 H F M W E E K . CO M 20 -26 OC T 2011

2. ’
R SY
E R
I N NL E
W AL
G
LO N G / S H O R T E Q U I T Y MARKET NEUTR AL
(US) UNDER $250m
WINNER PINE RIVER FUND
WINNER INVICTA FUND
“Pine River succeeded in
“ The US equity markets have ticking all of the judges’
been far from kind, but Invicta boxes. It’s recent performance,
continues to demonstrate investor relations and track
skill, guile and real ability in record impressed, while its
producing impressive returns. commitment to building a
LEFT TO RIGHT: Canover Watson, managing director A fund to watch” LEFT TO RIGHT: Malcolm Pobjoy, regional head of sustainable business was
at sponsor Admiral Administration; HFMWeek data client management group, Americas at sponsor
manager Indira Peters, collecting the award on HSBC Securities Services; Aaron Zimmerman, described as ‘impeccable’”
behalf of Invicta Fund; and host Naga Munchetty analyst at winner Pine River Fund; and host Naga
Munchetty
LO N G / S H O R T E Q U I T Y R E L AT I V E VA L U E
(US) OVER $250m
WINNER
WINNER SANDLER PLUS ALPHABET PARTNERS
DOMESTIC FUND
“Alphabet continues to
“Sandler is a respected giant impress in this sector, showing
in this sector, ably fighting off significant skill as a relative
some excellent competition in value manager during a
this category. A master of US difficult spell. Few managers in
equity investment ” this space have demonstrated
LEFT TO RIGHT: Gerry Tamburro, managing director LEFT TO RIGHT: Elana Margulies, HFMWeek senior
this level of ability“
at sponsor Pershing Prime Services; Andrew Sandler, reporter; Jason Adler, general partner, and Nelson
portfolio manager at winner Sandler Plus Domestic Saiers, CIO, at winner Alphabet Partners; and host
Fund; and host Naga Munchetty Naga Munchetty
LO N G / S H O R T EQ U I T Y CREDIT
( G LO B A L ) U N D E R $ 2 5 0 m
WINNER VR GLOBAL
WINNER PERELL A WEINBERG OFFSHORE FUND
PARTNERS SUSTAINABLE
RESOURCES FUND “Delivering impressive returns,
despite the fund’s great size,
“Global markets have been demonstrates the skill at the
down, but Perella Weinberg’s heart of VR Global. A class act
Sustainable Resources fund has and a master at negotiating
used its granular understanding the credit markets”
of the market to continue to hit
LEFT TO RIGHT: Stephen Giannone, president and LEFT TO RIGHT: Alessandra Tocco, managing
co-founder at sponsor Opus Fund Services; Louie the highs. A solid product, from director, global head of capital introductions at
Reformina, analyst - PWP Sustainable Resources
Fund Investment Team at winner Perella Weinberg;
a quality firm” sponsor J.P. Morgan; Ashok Raju, head of business
development at winner VR Global Offshore Fund;
and host Naga Munchetty and host Naga Munchetty
LO N G / S H O R T E Q U I T Y MANAGED FUTURES
( G LO B A L ) O V E R $ 2 5 0 m ( C TA ) U N D E R $ 5 0 0 m
WINNER BRENNER WEST WINNER HA AR C APITAL
C APITAL PARTNERS MANAGEMENT DCTP
“Brenner West ’s impressive “Combining shoot-the-
track record combines with lights-out returns and a low
the institutional heft to make standard deviation, Haar
this a genuinely impressive Capital represents genuine
offering. A worthy winner in a institutional quality. A well
hotly fought category ” deserved winner ”
LEFT TO RIGHT: Jack Wiener, executive vice LEFT TO RIGHT: Christine Waldron, senior vice
president at sponsor Linedata; Alasdair Noble, head president, head of alternative investments operations
of business development at winner Brenner West at sponsor US Bancorp Fund Services; Jessica Del
Capital Partners; and host Naga Munchetty Vecchio, director of operations at winner Haar Capital
Management; and host Naga Munchetty
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3. FEATURE HFMWEEK AWARDS 2011
MANAGED FUTURES EVENT DRIVEN
( C TA ) O V E R $ 5 0 0 m OVER $250m
WINNER SALEM GLOBAL WINNER YORK ASIAN
OPPORTUNIT Y FUND OPPORTUNITIES
“Fortunes in the CTA space “ York has shown skill,
have been mixed, but Salem judgement and real conviction
demonstrated why an army of in making the most of a
investors have turned to this growth region. A well-
LEFT TO RIGHT: John Wallace, managing director strategy over the last year. An LEFT TO RIGHT: Sharon Eliran, vice president, Hedge positioned fund with a huge
and global co-head of alternative fund services at Fund Capital Group at sponsor Deutsche Bank; Jeff
sponsor Deutsche Bank Fund Administration; Shaun exceptional fund“ Weber, president at winner York Asian Opportunities; potential for future growth”
Jordan, director of marketing at winner Salem Global and host Naga Munchetty
Opportunity Fund; and host Naga Munchetty
S P E C I A L I ST M ACRO UNDER $1bn
WINNER MIDWAY MARKET WINNER VENUS GLOBAL
NEUTR AL MASTER FUND MACRO FUND
“A specialist in generating “Macro managers are some of
high alpha, while mitigating the best positioned to make
risk . Midway ’s returns in sense of the world’s current
this category outstripped confusion. At the the very top
the competition. A reliable of its peer group, Venus has
performer ” shown real vision in making
LEFT TO RIGHT: Jason Kaplan, partner at sponsor LEFT TO RIGHT: Thomas Levings, managing director
its impressive returns. A
Schulte Roth & Zabel; Yong Cai, portfolio manager, at sponsor BNY Mellon Alternative Investment quality offering ”
and Robert Sherak, CEO and portfolio manager, at Services; Vik Mehrotra, CEO at winner Venus Global
winner Midway; and host Naga Munchetty Macro Fund; and host Naga Munchetty
M U LT I -ST R AT E GY M ACRO OVER $1bn
WINNER MILLENNIUM USA WINNER BRIDGEWATER
PURE ALPHA FUND II
“Consistent returns from a
unique business. Millennium “Unique, ambitious and far
has great performance, an beyond anyone else in the
impressive infrastructure and industry. The intellectual
an excellent ability to protect power at Bridgewater, as well
the capital of investors. A as its fantastic returns, makes
stand-out winner ” it a remarkable winner ”
LEFT TO RIGHT: Michael Scully, co-managing LEFT TO RIGHT: The Bridgewater marketing team
partner at sponsor Orical; John Novogratz, global with Parag Shah, head of marketing (holding award)
head of marketing and investor relations at winner
Millennium USA; and host Naga Munchetty
EVENT DRIVEN MERGER ARBITR AGE
UNDER $250m
WINNER AMETHYST
WINNER AK ANTHOS ARBITR AGE FUND
ARBITR AGE FUND (OFFSHORE)
“During tough economic “In a market starved of deals,
times, the best event driven Amethyst has shown skill and
managers come to the fore. determination in its chosen
Akanthos is part of this select investment strategy, making
group and is a worthy winner real returns and pleasing its
LEFT TO RIGHT: Gregg Knapp, director of business in this category ” LEFT TO RIGHT: Jim Cass, vice president and investor base in the process”
development at sponsor Opus Fund Services; Emma managing director at sponsor SEI; Claude Perron,
Sugarman, global head of capital introductions at chairman at winner Amethyst Arbitrage Fund
BNP Paribas; and host Naga Munchetty (offshore); and host Naga Munchetty
18 H F M W E E K . CO M 20 -26 OC T 2011

4. FEATURE HFMWEEK AWARDS 2011
F I X E D I N CO M E N E W CO M E R - E Q U I T Y
UNDER $250m
WINNER SALIDA
WINNER ALSIS L ATIN STR ATEGIC GROW TH FUND
AMERIC A FUND (INTERNATIONAL)
“Alsis has made the most “ With the equity space
out of a region with growing battered and bruised this year,
potential. With more investors very few newcomers have
searching for Latam exposure, been able to impress like
LEFT TO RIGHT: Alessandra Tocco, managing the success of this fund is LEFT TO RIGHT: Chris Bianchi, global head of prime Salida. The judges felt that the
director, global head of capital introductions at brokerage operations at sponsor Jefferies & Co;
sponsor J.P. Morgan; Ricardo Rivera, CFO at winner bound to be noticed” HFMWeek editor Gwyn Roberts, collecting the firm had enjoyed a stellar run,
Alsis Latin America Fund; and host Naga Munchetty award on behalf of winner Salida Strategic Growth
Fund; and host Naga Munchetty
while creating a sustainable
business model”
F I X E D I N CO M E N E W CO M E R – OT H E R
OVER $250m U N D E R $ 10 0 m
WINNER PIMCO ABSOLUTE WINNER MCGINNIS C APITAL
RETURN STR ATEGY IV
“Equity newcomers have
“Legendary managers faced a baptism of fire, with
sometimes struggle to maintian unforgiving markets delivering
momentum. Pimco shows a punishing judgement on
no signs of doing this, with many. McGinnis has risen to
its Absolute Return Strategy this challenge, peformed well
LEFT TO RIGHT: Neil Morris, member, operational
outclassing its peer group and LEFT TO RIGHT: Luis Zea, vice president, marketing
and remains a fund to watch”
risk at sponsor Kinetic Partners; Ryan Korinke, senior demonstrating mastery over at sponsor Imagine Software; HFMWeek data
vice president and product manager at winner manager Indira Peters collecting the award on
PIMCO; and host Naga Munchetty the fixed income markets” behalf of winner McGinnis Capital; and host Naga
Munchetty
EMERGING M ARKE TS N E W CO M E R – OT H E R
U N D E R $ 10 0 m O V E R $ 10 0 m
WINNER NEXSTAR WINNER BL ACKGOLD
DEVELOPING OPPORTUNITIES OPPORTUNIT Y FUND
FUND
“BlackGold impressed the
“Nexstar has produced judges with the quality of
impressive returns without its investment decisions and
experiencing the sort of a commitment to creating
volatility often asscociated a sound business model. A
with emerging markets. A smart and astute manager ”
LEFT TO RIGHT: Canover Watson, managing director LEFT TO RIGHT: Natalie Deak, partner, financial
at sponsor Admiral Administration; Elana Margulies, good quality fund with a services, at sponsor Ernst & Young; Adam Flikerski,
HFMWeek senior reporter, collecting the award on
behalf of winner Nexstar; and host Naga Munchetty
bright future” managing partner at winner BlackGold Opportunity
Fund; and host Naga Munchetty
EMERGING M ARKE TS N E W CO M E R - C TA
O V E R $ 10 0 m
WINNER QUANTITATIVE
WINNER DIRECTIONAL PROGR AM
FIREBIRD GLOBAL FUND
“The CTA space has seen a
“ With emering markets huge upswing in investor
increasingly crowded, demand, but mixed
investors are fleeing to quality. performance. As one of its
Firebird has demonstrated brightest newcomers, the
the ability to outperform its Quantitative Directional Program
peers and is a nimble and LEFT TO RIGHT: Jason Kaplan, partner at sponsor
has proved its ability and now
LEFT TO RIGHT: Arielle Rebraca, executive assistant;
Ellen D’Aleo, client service; Natalya Zhirova, office impressive manager ” Schulte Roth & Zabel; Michael Rulle, CEO and stands to gain further success”
manager; Julia Shvartsberg, fund accountant; Luba President at winner Quantitative Directional Program;
Kostyukova, senior operations professional, collecting and host Naga Munchetty
the award on behalf of fund manager, James Passin
20 -26 OC T 2011 H F M W E E K . C O M 21

5. FEATURE HFMWEEK AWARDS 2011
SINGLE M ANAGER LONG - F o H F M U LT I -ST R AT E GY
TER M PERFOR M ANCE OVER $1bn
UNDER $25 0 m
WINNER SK YBRIDGE MULTI-
WINNER ACCRETIVE C APITAL ADVISER HEDGE FUND
PARTNERS PORTFOLIOS - SERIES G
“Many managers can enjoy “There has been plenty
single years of success, written about SkyBridge,
establishing a track record but the performance of this
LEFT TO RIGHT: Andrew Saunders, director of capital requires sterner stuff. Accretive LEFT TO RIGHT: Peter Sanchez, CEO at sponsor fund is far stronger than
introduction at sponsor Direct Access Partners; Northern Trust Hedge Fund Services; Troy Gayeski,
Richard Fearon Jr, managing partner at winner has consistently proved itself portfolio manager at winner SkyBridge; and host words. A great product that is
Accretive Capital Partners; and host Naga Munchetty as a reliable performer and Naga Munchetty responsible for refreshing the
was a deserving winner ” funds of hedge funds model”
SINGLE M ANAGER LONG - F o H F S P E C I A L I ST
TER M PERFOR M ANCE UNDER $250m
OVER $25 0 m
WINNER VOYAGER PARTNERS
WINNER C ASTLEROCK
PARTNERS “ Voyager ’s own journey has
been impressive. Carefully
“CastleRock consistently selecting its underlying
impressed the judging managers it was a deserving
panel with the quality of its winner of this award and won
operation and the consistency a unaminous decision from
LEFT TO RIGHT: Rahul Mahajan, director, global
of its returns. With the markets LEFT TO RIGHT: Luis Zea, vice president, marketing
the judges”
prime finance sales at sponsor Deutsche Bank; Paul still looking far from certain at sponsor Imagine Software; Elana Margulies,
Tanico, founder and managing principal at winner HFMWeek senior reporter, collecting the award on
CastleRock Partners; and host Naga Munchetty it is good to know that behalf of winner Voyager Partners; and host Naga
businesses like this still exist” Munchetty
FUND OF HEDGE FUNDS F o H F S P E C I A L I ST
M U LT I -ST R AT E GY OVER $250m
UNDER $250m
WINNER PINNACLE NATUR AL
WINNER MERIDIAN RESOURCES
DIVERSIFIED FUND - CL ASS J
SHARES “No stranger to awards,
Pinnacle continues to impress.
“ The funds of hedge funds The judges felt that the
sector has endured difficut combination of performance
times of late, but firms like and manager selection made
Meridian reveal its continued it a worthy winner of this
LEFT TO RIGHT: Andrew Dougherty, managing LEFT TO RIGHT: Malcolm Pobjoy, regional head of
director and head of alternative and institutional relevance. A quality operator client management group, Americas at sponsor category. A star achiever ”
solutions at sponsor BNP Paribas; Peter Brown,
partner at winner Meridian Diversified Fund; and
with a real ability to perform” HSBC Securities Services; Don Segalas, managing
partner and CEO at winner Pinnacle Natural
host Naga Munchetty Resources; and host Naga Munchetty
F o H F M U LT I -ST R AT E GY F o H F – LO N G -T E R M
$250m - $1bn PERFORMANCE
WINNER DORCHESTER WINNER VAN BIEMA VALUE
C APITAL PARTNERS FUND
“Dorchester ’s consistent “A real value investor, van
approach and lack of Biema won plaudits for
correlation with its peer sticking to its basic investment
group won its plaudits. A principles and making them
strong manager with a clear work , not only last year, but
LEFT TO RIGHT: Jane Janeczek, client manager at investment approach” LEFT TO RIGHT: Jim Cass, vice president and over the whole of its lifespan”
sponsor Citi Hedge Fund Services; Michael Halpern, managing director at sponsor SEI; Michael van
co-founder and co-CIO at winner Dorchester Capital Biema, founder and managing partner at winner
Partners; and host Naga Munchetty van Biema Value Fund; and host Naga Munchetty
22 H F M W E E K . CO M 20 -26 OC T 2011

6. F o H F N E W CO M E R S P E C I A L CO N T R I B U T I O N
WINNER ENTRUST C APITAL WINNER ISR AEL
SPECIAL OPPORTUNITIES ENGL ANDER , FOUNDER ,
FUND MILLENNIUM PARTNERS
“EnTrust is a reliable provider “A legend in the hedge
capable of innovating the fund space, Izzy Englander
funds of hedge funds model. spearheads a genuinely
This offering only serves to institutional business that acts
LEFT TO RIGHT: Orla Nallen, managing director prove the firm’s ability - an LEFT TO RIGHT: Jay Gould, partner at sponsor as a beacon for talent and a
at sponsor BNY Mellon Alternative Investment Pillsbury Winthrop Shaw Pittman; John Novogratz,
Services; Elizabeth Curran, vice president, impressive new venture from global head of marketing and investor relations at badge of quality for investors.
administration at winner EnTrust Capital Special
Opportunities Fund; and host Naga Munchetty
a seasoned firm” Millennium, collecting the award on behalf of Israel
Englander; and host Naga Munchetty
A deserving winner of this
year ’s HFMWeek Special
Contribution Award”
WITH THANKS TO OUR SPONSORS
LO N G / S H O R T E Q U I T Y ( U S ) U N D E R $ 2 5 0 m LO N G / S H O R T E Q U I T Y ( U S ) O V E R $ 2 5 0 m LO N G / S H O R T E Q U I T Y ( G LO B A L ) U N D E R $ 2 5 0 m LO N G / S H O R T E Q U I T Y ( G LO B A L ) O V E R $ 2 5 0 m MARKET NEUTR AL
sponsored by sponsored by sponsored by sponsored by sponsored by
R E L AT I V E VA L U E CREDIT 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 M A N A G E D F U T U R E S ( C TA ) O V E R $ 5 0 0 m SPECIALIST
sponsored by sponsored by sponsored by sponsored by sponsored by
M U LT I -S T R AT E G Y EVENT DRIVEN UNDER $250m EVENT DRIVEN OVER $250m M ACRO UNDER $1bn M ACRO OVER $1bn
sponsored by sponsored by sponsored by sponsored by sponsored by
MERGER ARBITR AGE F I X E D I N CO M E U N D E R $ 2 5 0 m F I X E D I N CO M E O V E R $ 2 5 0 m E M E R G I N G M A R K E T S U N D E R $ 10 0 m E M E R G I N G M A R K E T S O V E R $ 10 0 m
sponsored by sponsored by sponsored by sponsored by sponsored by
N E W CO M E R - E Q U I T Y N E W CO M E R - OT H E R U N D E R $ 10 0 m N E W CO M E R - OT H E R O V E R $ 10 0 m N E W CO M E R - C TA 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
sponsored by sponsored by sponsored by sponsored by UNDER $250m sponsored by
PMS 2945
CMYK 100.50.0.10
RGB 0.84.159
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 F o H F M U LT I -S T R AT E G Y U N D E R $ 2 5 0 m F o H F M U LT I -S T R AT E G Y $ 2 5 0 m - $ 1 b n F o H F M U LT I -S T R AT E G Y O V E R $ 1 b n FoHF SPECIALIST UNDER $250m
OVER $250m sponsored by sponsored by sponsored by sponsored by sponsored by
FoHF SPECIALIST OVER $250m F o H F - LO N G -T E R M P E R F O R M A N C E F o H F N E W CO M E R S P E C I A L CO N T R I B U T I O N
sponsored by sponsored by sponsored by sponsored by
PMS 2945
CMYK 100.50.0.10
RGB 0.84.159
20 -26 OC T 2011 H F M W E E K . C O M 23