Carrie McCabe: Institutions Replacing Traditional Equity with Long/Short Equity Hedge Funds

Hedge Funds
by trusted insight posted 8years ago 6207 views
From OpalesqueTV Carrie McCabe founded Lasair Capital in a strategic partnership with a Fortune 10 corporate pension trust in 2008. Before that, she was President and CEO of Blackstone Alternative Asset Management and was CEO of FRM Research LLC. Carrie launched Lasair, a multi-manager hedge fund strategy firm, to serve as an “investor to investors.” Lasair invests in a concentrated blend of equity long-short managers and is unique from fund of funds, which Ms. McCabe said can be over-diversified, which may lead to bond-like returns for hedge fund risk. Long-only investing is “old-world investing”: Ms. McCabe believes long-only investing is “old-world investing” given global macro uncertainties and extreme market volatility. For investors who desire a format that can capture equity upside and protect against the downside, concentrated equity long-short is becoming the “smart equity choice” and increasingly replacing traditional institutional equity buckets, particularly in greatly underfunded pension plan portfolios. In addition, learn about the following: - Benefits of a partnership with a Fortune 10 corporate pension trust - Why underfunded pension plans value equity long-short as a more active equity strategy - Over the past 10 years, hedged equity indices have outperformed long-only equity indices by twice as much, with half the volatility - Opportunities in event-driven and merger arbitrage situations - What is behind the sector rotation from aggressive into more defensive sectors Carrie McCabe is CEO and Founder of Lasair Capital. Prior to founding Lasair in 2008, Ms. McCabe was Principal at McCabe Advisors, a strategic advisory firm that provided investment counsel to clients with hedge fund mandates exceeding $50 billion, which included the world’s largest pension plans, Fortune 100 corporations, top-tier hedge funds, and leading global financial institutions. Ms. McCabe was President and Chief Executive Officer of FRM Americas from 2005 to 2006 where she also served as a member of FRM's Global Advisory Committee and Investment Committees. Prior to that, she was President and Chief Executive Officer of Blackstone Alternative Asset Management from 1996 to 2000, where she built multi-manager hedge fund investing into a core business of the firm. In this role she oversaw all aspects of the business, including investments and marketing. Ms. McCabe began her career at Bear Stearns, where she was elected to Managing Director at the age of 30. She then joined Hong Kong and Shanghai Banking Corporation (HSBC) as Senior Vice President and Manager of Capital Markets, where she managed a $25 billion balance sheet and the sales and trading teams. Subsequently, she founded and served as President of Midland Investment Management, the institutional money management affiliate of HSBC in the Americas. She then served as Principal at Mariner Investment Group, where she created new company ventures in the alternative asset area. Ms. McCabe received her B.A. in Economics from Stanford University and MBA from Harvard Business School.