Walkers winning in distress

(CNS): Despite the economic downturn, local law firm Walkers has carved a niche for itself in the market with the use of creative solutions to deal with the distressed situation. This week in New York, the fund experts will be hosting a special seminar looking at protecting and growing hedge funds in the current volatile market. (Left: Mark Lewis)

As the downturn in investment markets dominates attention in the hedge fund industry, Walkers are inviting key clients and guests to ‘Fighting the Tape’, a unique discussion on protecting and growing a hedge fund business in the current conditions.

"The issues up for discussion are extremely topical and reflect the areas that many of our clients have been looking for our guidance on during the recent market events,” said Mark Lewis, senior investment funds partner at Walkers. “There are a number of options available to funds facing illiquidity and large scale redemption requests, which can allow them to continue to operate and avoid formal liquidation, so we anticipate a lively exchange of views."

The seminar will deal with such issues as suspension of redemption requests from investors, the imposition of gates, creation of side pockets for underperforming or difficult to value assets and prime brokerage problems. In addition to looking at the various solutions funds can adopt to solve some of the problems they are facing, considerable attention will also be devoted to the new opportunities presented by the shift in sentiment and how funds can capitalise on them now to their best advantage.

As part of the ‘Walkers Fundamentals’ series guest speakers include renowned hedge fund manager George Hall, the Founder and President of the Clinton Group Inc., who has successfully navigated previous financial storms, who will share his experiences and his personal views on the outcome of the Presidential Election on the direction of the hedge funds industry.

Yolanda McCoy, Head of the Investments and Securities Division of the Cayman Islands Monetary Authority (CIMA) will set out the Cayman regulator’s perspective and Jeffrey Rosensweig, Associate Professor of Finance at Emory University will examine the global economy, market trends, changing demographics and global opportunities for investors and investment managers.

"With the excellent panel of speakers that we have assembled, this will be a unique educational event and not just another hedge fund seminar," Lewis added. He explained that the variety of techniques that funds can employ to manage distressed situations will be explained by Walkers’ partners throughout the afternoon, along with a session devoted to issues regarding insolvency and the responsibilities of hedge fund directors. Also making a presentation will be Daniel Strachman, hedge fund consultant and author of ‘The Long and Short of Hedge Fund Investing’.

‘Fighting the Tape’ will take place at the Sheraton New York Hotel & Towers on Thursday 6 November and will be followed by a cocktail reception. The ‘Walkers Fundamentals’ series of ‘Thought Leadership’ events will be developed further over the coming months.