NEXT WEEK:  
A Conversation with Jeff Dorman 2.0 with the FinTech SIG

Join the CalALTs FinTech Special Interest Group (SIG) next week on June 22 at 3:00 PM Pacific for a follow-up conversation with Jeff Dorman, Chief Investment Officer at Arca. Jeff will discuss the role and opportunities in DeFi and how coins in decentralized systems, solve problems differently, add more network opportunities and centralized solutions

Additional topics include:

• The popularity of Non-Fungible Tokens or NFTs and possible uses of NFTs in the future.
• Differences in the value and types of risk investing in NFTs versus other types of Coins or Tokens.
• The impact of the cycle of investing in crypto assets and the emergence of institutional investors that will affect investment opportunities in these assets.

Registration is FREE for all CalALTs members. Non-Members are welcome to attend for a small fee or join CalALTs to attend our events for free!

2021 KPMG Women in Alternative Investments Survey:
COVID-19 and long-term impacts to women in our industry

Platinum Partner

KPMG LLP (KPMG) is proud to announce the launch of the 2021 Women in Alternative Investments Survey.

This important survey seeks to understand how COVID-19 has affected the flexibility and engagement of women at all levels of the asset management. Pandemic response efforts resulted in firms embracing 100% remote work models, at least for a period of time. Despite new challenges, the industry has been successful. Does this make the case for continued flexibility or will our industry revert to where it once was? Based on these changes, how will it impact both opportunities and challenges for women in the future?

Please share your insights and experiences by completing the survey , which should take no more than 10 minutes of your time.

Thank you for your contribution to this important conversation.

Questions?
If you have questions about the KPMG Women in Alternative Investments Survey, previous reports, or would like to learn more about this topic, please contact KPMG.

On June 17, CLA (CliftonLarsonAllen)  will be talking through key practices related to post-merger integration, with a specific focus on the lower middle market. They'll show you how treating a merger as an end-to-end process can better achieve your deal-thesis objectives.

At the end of this session, you will be able to:

• Define key due diligence steps that help the transaction succeed
• Identify key considerations for an effective and productive Day 1
• Identify how to employ a well thought out communication plan to reduce impact to employees, vendors and customers
• Determine if your team has the right skillset and bandwidth to reach your goals
• Indicate how to utilize a systematic approach you can leverage for any type of integration

Read the 2021 Insights in Alternative Funds CalALTs White Paper

Find Your Next Opportunity

Looking for your next career opportunity? Visit the CalALTs Job Board for more information on the latest positions and openings in the ALTs and finance industry.

A Message From Our President

Industry Highlights

A series of timely articles provided by

CalALTs partner Harvest Exchange  is an investment content distribution and marketing platform designed to help asset managers connect with target audiences using behavioral data and insightful analysis.

Harvest hosts a number of highlights in our newsletters to share several informative and timely content with our community. View these articles using the links below.

To learn more about Harvest and their potential opportunities, click here.

What are some CalALTs Membership Benefits? 

Join our upcoming Special Interest Group (SIG) meetings! Registration is FREE for all CalALTs members. Non-Members are welcome to attend for a small fee or join CalALTs to attend our events for free!

Join the FinTech Special Interest Group (SIG) on June 22

Join the CalALTs FinTech Special Interest Group (SIG) on June 22 at 3:00 PM Pacific for a follow-up conversation with Jeff Dorman, Chief Investment Officer at Arca .Jeff will discuss the role and opportunities in DeFi and how coins in decentralized systems, solve problems differently, add more network opportunities and centralized solutions.

Additional topics include:

• The popularity of Non-Fungible Tokens or NFTs and possible uses of NFTs in the future.
• Differences in the value and types of risk investing in NFTs versus other types of Coins or Tokens.
• The impact of the cycle of investing in crypto assets and the emergence of institutional investors that will affect investment opportunities in these assets.

We post our Member Spotlight each month to recognize exemplary members of the CalALTs community. This month's Member Spotlight is Stacy Cumberbatch, Managing Director of Blended Impact. You can read a preview of the interview below. 

What is your current role and focus relative to alternative investments?
I am the Founder and Managing Director of Blended Impact, a Southern California-based impact investment firm that focuses across asset classes including real estate, growth-oriented operating businesses, and software growth equity following a footprint in Opportunity Zones and similar communities... read more.

What do you find most rewarding about your career?
I love that I get to work in partnership with local government to create solutions in the private sector that can be amplified with smart policy recommendations and incentives. I utilize these partnerships to focus in a geographic location and invest across asset classes, which gives me the flexibility to be both opportunistic in investments while focusing on the needs of the community.

When did you first join CalALTs? What do you value most about the organization?I'm a newer member to CalALTs, I started joining webinars in 2020, and officially joined in 2021. If there's one good thing about the pandemic, its the accessibility of information with educational events having a digital first marketing strategy. I was thrilled when I learned about the org as I've gotten insights I haven't elsewhere and have made some great connections in a short span of time. CalALTs provides great timely and relevant content to keep us up to date with industry trends, legislative actions and more.

What advice do you have for young people getting started in the biz?
Don't be afraid to pick up the phone and call someone to find out what you don't know. Folks taking my requests for 30 minute intro calls was how I learned in the beginning and I put their suggestions to action. Also don't get hung up on the word mentor either and think of it as an official thing-- people I consider mentors now I have never officially asked them to do so, but they are folks who I've found ways to provide value to, trust their insights and that they have my best interest in mind. And most importantly, will pick up the phone when I call.

Partner Spotlight

Platinum Partner

The CalALTs community would like to welcome our new partner, Juniper Square! 

Juniper Square is transforming the private capital markets industry with solutions and services that streamline fundraising, investment operations, and investor reporting. Designed specifically for commercial real estate, Juniper Square is trusted by hundreds of investment sponsors to manage more than 160,000 investors and $1 trillion in real estate investments.

Click the button below to learn more about their company.   

Read the 2021 Insights in Alternative Funds CalALTs White Paper

Find Your Next Opportunity

Investment Banking, Emerging Growth & Regional Coverage, Associate
Global Banking and Markets, San Francisco, CA

Investment Banking Analyst, Technology and Business Services
BMO Harris Bank, San Francisco, CA

Wealth Management Seasonal Client Associate
Merrill Lynch, Temecula, California, CA

A Message From Our President

Industry Highlights

A series of timely articles provided by

CalALTs partner Harvest Exchange  is an investment content distribution and marketing platform designed to help asset managers connect with target audiences using behavioral data and insightful analysis.

Harvest hosts a number of highlights in our newsletters to share several informative and timely content with our community. View these articles using the links below.

To learn more about Harvest and their potential opportunities, click here.

What are some CalALTs Membership Benefits? 

FinTech Special Interest Group New Meeting Date Announced

The FinTech Special Interest Group (SIG) has moved their next meeting to June 22 at 3:00 pm Pacific! Join for a follow-up conversation with Jeff Dorman, Chief Investment Officer at Arca. 

Jeff will discuss the role and opportunities in DeFi and how coins in decentralized systems, solve problems differently, add more network opportunities and then some centralized solutions.

Additional topics include include:  

• The popularity of Non-Fungible Tokens or NFTs 
• Possible uses of NFTs in the future, differences in the value and types of risk investing in NFTs versus other types of Coins or Token 
• The impact of the cycle of investing in crypto assets and the emergence of institutional investors that will affect investment opportunities in these assets.

Highlights from the Latest Real Estate SIG Meeting

The CalALTs Real Estate Special Interest Group (SIG) met on May 11th for a conversation to discuss and understand the traits, structures, and other criteria they seek in real estate fund managers. Members can log into their member accounts and watch the full discussion in our webinar archive here. 

Click below for a preview of conversation highlights.

BENJAMIN: "What are some of the things you focus on when reviewing the credentials and background of an asset manager that approaches your company for capital?"

MEGHAN: “Obviously their background is important. But I think there are a lot of managers out there who’ve maybe had experience at another firm or who have worked in the industry for a long time -- maybe they even syndicated a number of different loans when they didn’t necessarily have a fund structure yet…That’s not necessarily a deal breaker for us. I think it’s a lot more about...

Digital Assets Conference for Sophisticated Investors

Designed for family offices, pensions, endowments, and HNWIs, FO256 is stacked with panelists who can cut through the noise and provide the relevant information about digital assets that you need to know.

Water Buffalo Club's 20th Annual Texas Hold 'Em Poker Tournament

The Water Buffalo Club’s 20th Anniversary Charity Poker Tournament will take place on Thursday, September 23, 2021 at Brentwood Country Club. All proceeds raised from the event will be used to fund their grant program. Click the button below to learn more. 

Virtual Happy Hour with the Hedge Fund Special Interest Group 

Interested in getting more involved with the Hedge Fund Special Interest Group (SIG)? Contact the CalALTs Office at info@calalts.org for more information on how to get involved! 

Read the 2021 Insights in Alternative Funds CalALTs White Paper

Looking for your next career opportunity? Visit the CalALTs Job Board to see if there is a position fit for you. 

Vice President, Investment Banking - CohnReznick, New York, NY 

M&A Corporate Development Junior Deal Lead - Square, San Francisco, CA

Finance Manager, Network Spend Analytics  - Facebook, Menlo Park, CA

Senior Associate, Alternative Investments - KPMG, San Francisco

A Message From Our President

Industry Highlights

A series of timely articles provided by

CalALTs partner Harvest Exchange  is an investment content distribution and marketing platform designed to help asset managers connect with target audiences using behavioral data and insightful analysis.

Harvest hosts a number of highlights in our newsletters to share several informative and timely content with our community. View these articles using the links below.

To learn more about Harvest and their potential opportunities, click here.

What are some CalALTs Membership Benefits? 

Upcoming Special Interest Group (SIG) Meetings

Join our upcoming Special Interest Group (SIG) meetings! Registration is FREE for all CalALTs members. Non-Members are welcome to attend for a small fee or join CalALTs to attend our events for free!

TODAY:  
 Lessons in Capital Raising for Emerging and Established Managers with the Private Equity SIG

There's still time to register! 

NEXT WEEK:  
Virtual Happy Hour with the Hedge Fund Special Interest Group 

Bring your own cocktail and join the CalALTs Hedge Fund Special Interest Group (SIG) next week on May 4th at 3:00 PM PT for a virtual happy hour, networking and storytelling session! Share your stories and get to know other like-minded professionals in the industry. 

Real Estate Special Interest Group Meeting

Join the Real Estate Special Interest Group (SIG) on Tuesday, May 11 from 3:00 - 4:00 pm PT to better understand the traits, structures, and other criteria some of California’s industry leading real estate investors seek in real estate fund managers. 

Discussion topics will include:
• Top factors fund managers demonstrate that result in investing.
• Registration with the SEC as an influential factor in evaluation.
• Back office perspectives: in house or outsourced.
• Evaluating fairness of management fees, debt funds, RE equity funds.
• Overall economic real estate trends and more!

NEW FinTech Special Interest Group Meeting Announced!

Join the CalALTs FinTech Special Interest Group (SIG) for a follow-up conversation with Jeff Dorman, Chief Investment Officer, at Arca  - a digital asset investment firm. Reserve your seat for May 18 from 3:00 - 4:00 pm PT and check back for more information.

CalALTs Members are eligible for discounted rate to attend this series.
Contact info@calalts.org for this discount code. 

We’re proud to announce that CalALTs Members Vince Calcagno of Agile Fund Solutions and Scott Burger of KPMG have been selected to speak during CFA Los Angeles’ Alternative Investment Series - an educational series designed for those seeking to gain a broader understanding of alternative investment strategies.

Learn about InvestX Camp

CalALTs is excited about another opportunity to expand financial literacy of younger generations. We invite you to learn more about the Investment Exploration Camp, better known as InvestX Camp. This virtual week-long camp will provide students with an opportunity to enhance their understanding of financial markets and investment strategies. With a youth-tailored curriculum, InvestX Camp will be both interactive and engaging. Students will learn through financial case studies, a stock market simulator, meetings with business professionals, investment pitches, and more.

How Can You Help? 

Spread the Word! If you know any 10-13 year olds who might be interested in attending, we encourage you to learn more. No prior financial knowledge is needed!

Make a (Tax Deducible) Donation to Help Underserved and At-Risk Child in LA Attend! CalALTs and the Water Buffalo Club are partnering again to help cover the camp registration fee for underserved and at-risk children in Los Angeles. A $50 or $100 dollar donation will go a long way! When you are filling out the donation form, please use the information below:

Under Campaign select “COVID-19 Special Projects”
Under Affiliated Member please type “camp”

SEC Division of Examinations Issues Risk Alert Regarding
ESG Investing

Written by

The staff of the SEC’s Division of Examinations (Division) released a risk alert on April 9, 2021. The Risk Alert discusses the staff’s observations following its recent examinations of investment advisers, as well as registered investment companies and private funds (collectively, funds), that engage in ESG investing.

The Risk Alert includes a number of important considerations for investment advisers and funds (collectively, firms) that consider ESG factors across the broad spectrum of ESG-related investment strategies, and emphasizes the staff’s now-acknowledged focus on ESG investing because of its growing popularity with investors...

Join Fellow Members of the Alternative Investment Community and Help for Children (HFC) to Fight Child Abuse

Read the 2021 Insights in Alternative Funds CalALTs White Paper

Find Your Next Opportunity

Looking for your next career opportunity? Visit the CalALTs Job Board for more information on the latest positions and openings in the ALTs and finance industry.

A Message From Our President

Industry Highlights

A series of timely articles provided by

CalALTs partner Harvest Exchange  is an investment content distribution and marketing platform designed to help asset managers connect with target audiences using behavioral data and insightful analysis.

Harvest hosts a number of highlights in our newsletters to share several informative and timely content with our community. View these articles using the links below.

To learn more about Harvest and their potential opportunities, click here.

What are some CalALTs Membership Benefits? 

Thank you to ALL involved with our pilot
Financial Literacy & Leadership Camp!

"Acting as a volunteer financial coach to promote financial literacy with middle school students was fantastic.  My sincere thanks to CalALTs, Gail Perry-Mason and Money Matters, Derek Richardson and the Water Buffalo Club for providing the students and the volunteers with a really rewarding growth opportunity."
~Chris Appler, Financial Consultant and CalALTs Member

This past year, CalALTs partnered with the Water Buffalo Club, Money Matters for Youth, and the Why Can't We Make a Difference Foundation (WCWMAD) to host Financial Literacy & Leadership - A Virtual Camp for California Youth, on March 29 - April 2, 2021.

One of the year's goals of the CalALTs Board was to find ways to reach out to the youth in California, provide education that they wouldn't normally receive in a regular school curriculum, and hopefully inspire some to gain an interest in finance - driving more diversity into the future of the financial industry. As a result, the virtual camp was born.  Feedback from the pilot program has been tremendously positive from the kids involved to the organizers to the financial coaches/volunteers.

With the success of this year's pilot camp, we hope to continue the program in the future, building on the foundations we laid this year. We want to thank all of those involved who helped to make this program such a success!

The Young Investors, who gave up time during their spring break to participate!

Our Volunteer Financial Coaches:

• Chris Appler, Financial Consultant
• Will Cazalet, CAIA
• Staford François, CPA, MBA, Senior Manager, CohnReznick, LLP
• Sujit Govindraj, Senior Managing Director, First Republic Bank
• Nicholas Pardini, Founder, Davos Investment Group

Our Organization Partners:

• Derek Richardson and his team at the WCWMAD
• Gail Perry-Mason and her instructors from Money Matters for Youth, in addition to her unwavering support of underserved youth!
• The Water Buffalo Club - thank you for your continued partnership and sponsorship!

...and finally, we could not have developed this program without our sponsors and those who made a financial donation!

Interested in supporting this program in the future? Contact info@calalts.org.

Upcoming Special Interest Group (SIG) Meetings

Join our upcoming Special Interest Group (SIG) meetings! Registration is FREE for all CalALTs members. Not a member but interested in joining?  Click here to get involved.

Next Week:
Join the FinTech Special Interest Group (SIG)

Join the FinTech Special Interest Group (SIG) on Monday, April 19th from 3:00 - 4:00 pm PT for a conversation with Ron Suber , a known FinTech mover and shaker!

Ron has a history of creating and executing successful strategies, raising debt and equity for FinTech ventures, and collaborating and having fun on winning teams. He enjoys engaging with entrepreneurs to help with their marketing, product development, sales process, hiring, and focus and execution of key metrics. His track record is impressive, including as a past president of Prosper Marketplace and current board member of Yield Street and Qwil, and asan advisory board member to four SPAC’s - Juvo, Unison, Money360, House Canary, MoneyLion, Sundae, Future Fuel and Nabis.

MEET OUR SPEAKERS:

Private Equity Special Interest Group (SIG) Meeting

Join the Private Equity Special Interest Group (SIG) on Wednesday, April 28th from 12:30 - 1:30 pm PT for an open discussion of the lessons learned during the past year regarding the fund raising process from the lens of fund managers and industry experts.

Speakers will share their experiences about constraints and new standards imposed by the pandemic as well as changes in requirements from investors, and operational considerations and impacts.

MEET OUR SPEAKERS 

 Hedge Fund Special Interest Group (SIG):
Virtual Happy Hour - Sharing Trade Stories

Bring your own cocktail and join the CalALTs Hedge Fund SIG on May 4th at 3:00 PM PT for a virtual happy hour, networking and storytelling session! Share your most interesting or challenging trade story and get to know other like-minded professionals in the industry. 

INTERESTED IN SHARING YOUR STORY? LET US KNOW HERE. 

Real Estate Special Interest Group (SIG) Meeting

The CalALTs Real Estate Special Interest Group (SIG) will have their next meeting on Tuesday, May 11 from 3:00 - 4:00 pm PT with some of California’s industry leading real estate investors to better understand the traits, structures, and other criteria they seek in real estate fund managers. 

There’s a diversity in practice of real estate fund managers including real estate fund investment objectives, fund structures, compliance best practices, and back and middle office capabilities. The diversity in practices can make knowing and understanding the criteria that capital allocators and other investors of real estate funds challenging to understand and prepare for. Join us to be prepared and hear from experts who share years of experience.

MEET OUR SPEAKERS:

Read the 2021 Insights in Alternative Funds CalALTs White Paper

Find Your Next Opportunity

Looking for your next career opportunity? Visit the CalALTs Job Board for more information on the latest positions and openings in the ALTs and finance industry.

This month's Member Spotlight is John Donovan, Audit Partner of Baker Tilly. You can a preview of our interview with John below.

What is your focus relative to alternative investments?
I am an audit partner and currently working to help Baker Tilly grow their presence in California. 

What do you find most rewarding about your career?
I enjoy the relationships developed over the years. I have been working in California for the last 26 and a half years and have developed numerous relationships with clients and other influencers, attorneys, bankers etc. These relationships are important because we all have business needs and can help each other out through referrals, etc.

What do you value most about CalALTs? 
The networking. Pre-pandemic, I have enjoyed various events, whether it’s a holiday happy hour or an event at Del Mar race track. I have met a ton of people, had business referred my way and have referred business to others myself.

A Message From Our President

We look forward to connecting with you in the year ahead. Please do not hesitate to reach out directly to me for a personal introduction or to learn more about membership/partnership benefits. My email is  dlight@gspartners.com.

Industry Highlights

A series of timely articles provided by

CalALTs partner Harvest Exchange  is an investment content distribution and marketing platform designed to help asset managers connect with target audiences using behavioral data and insightful analysis.

Harvest hosts a number of highlights in our newsletters to share several informative and timely content with our community. View these articles using the links below.

To learn more about Harvest and their potential opportunities, click here.

What are some CalALTs Membership Benefits? 

Read the 2021 Insights in Alternative Funds CalALTs White Paper

DONATE TODAY: Financial Literacy and Leadership
Virtual Camp for California Youth

CalALTs has partnered with the Water Buffalo Club  and Money Matters for Youth  to create a virtual camp for kids in LA (ages 10-12), where the "Young Investors" are learning about financial management, the stock exchange, and other valuable leadership skills. The program kicked off on Monday and will continue to meet daily the rest of this week.

We Need Your Help!

This program wouldn't be possible without the generous donations from you and your firms! All donations will be made directly to the Water Buffalo Club, a charitable organization dedicated to fostering the well-being of underserved and at-risk children in Los Angeles. As you consider funding this program, please note: 

• $100 will fund prizes for one participant
• $250 will fund the 5-day activities for one participant
• $500 will fund the wrap-up party celebration 

Any donation is appreciated and collectively will support a great opportunity for these kids to be introduced to the world of finance, build their excitement, and support a foundation for opportunity! 

When you are filling out the donation form please use the info below:

Under Campaign select “Covid 19 Special Projects”

Under Affiliated Member please type “CALALTS”

Join the Next FinTech Special Interest Group Meeting

Join the FinTech Special Interest Group (SIG) on Monday, April 19th from 3:00 - 4:00 pm PT for a conversation with Ron Suber , a known FinTech mover and shaker!

Ron has a history of creating and executing successful strategies, raising debt and equity for FinTech ventures, and collaborating and having fun on winning teams. He enjoys engaging with entrepreneurs to help with their marketing, product development, sales process, hiring, and focus and execution of key metrics. His track record is impressive, including as a past president of Prosper Marketplace and current board member of Yield Street and Qwil, and as an advisory board member to four SPAC’s - Juvo, Unison, Money360, House Canary, MoneyLion, Sundae, Future Fuel and Nabis. Read More Here.

You're invited to the Hedge Fund Virtual Happy Hour:
Sharing Trade Stories

Bring your own cocktail and join the CalALTs Hedge Fund SIG on May 4th at 3:00 PM PT for a virtual happy hour, networking and storytelling session! Share your most interesting or challenging trade story and get to know other like-minded professionals in the industry. 

INTERESTED IN SHARING YOUR STORY? LET US KNOW HERE. 

Private Equity Special Interest Group (SIG) Meeting

This meeting will be an open discussion of the lessons learned during the past year regarding the fund raising process from the lens of fund managers and industry experts. Speakers will share their experiences about constraints and new standards imposed by the pandemic as well as changes in requirements from investors, and operational considerations and impacts.

The date of this meeting will be announced shortly.

CFA Society Alternative Investments Series

CalALTs Members Eligible for Discounted Rate

CalALTs Members are eligible for a discount to the upcoming CFA Society Virtual Alternative Investments Series. To claim your discount, log into your CalALTs account and visit our Offers & Discounts page. You can also contact the CalALTs Office directly to request this discount code by emailing info@calalts.org.

More information on this series is below:

"This educational course is designed for those seeking to gain a broader understanding of alternative investment strategies. A sound understanding of alternative investments (AI) is fundamental for all serious finance and investment professionals. This course examines the characteristics, benefits, and risks of the various AI strategies including private equity, hedge funds, and derivatives.

Professionals from prominent local investment firms will lead this series so attendees will obtain unique perspectives on the current market. Instructors will also share their insights on asset allocation and risk management." Learn more here. 

This month's Member Spotlight is Eric Goldberg, Audit Partner of KPMG. You can a preview of our interview with Eric below.

What is your focus relative to alternative investments?
I am an audit partner and my diverse experience includes audits of business development companies, mutual funds, hedge funds, private equity funds, commodity pools, domestic/offshore fund vehicles, master-feeder structures, multiple-class funds, funds of funds and their sponsors. I have in-depth knowledge of and experience in financial reporting and operational issues specific to the alternative investment industry. I also spent three years in KPMG’s Department of Professional Practice Group (DPP) in New York, where I was a member of various technical accounting topic teams focused on investment companies and financial services.

What do you find most rewarding about your career?
The most rewarding part about my career is helping develop the new generation of accountants and auditors. I'm passionate about providing exceptional client service to each and every one of my clients and delivering quality audits that provide comfort to my clients' investors.

What do you value most about CalALTs? 
I value the networking opportunities in addition to the education and relevant content from the industry events.

Virtual Symposium Featuring Michael Lewis

Join George Smith Partners  for their Virtual Symposium on Friday, April 9 at 10:00 am PT / 1:00 pm ET. Denise Pellegrini, Bloomberg Radio Host & Real Estate Reporter, will be interviewing Michael Lewis, best-selling author of Liar’s Poker, Moneyball, The Big Short, The Blind Side and many more. 

This event if free to attend. Click here for more details. 

Fraud in Subscription Credit Facilities

Written by 

"Recent press coverage has brought to light allegations of fraud in relation to a subscription credit facility made available to a fund managed by a Florida-based private equity fund manager…How are subscription credit facilities susceptible to fraud?

The case has led to questions about the due diligence processes in the subscription credit facility market. Subscription credit facilities are secured by the unfunded capital commitments of the investors in the fund, the right of the fund to receive capital contributions from such investors and the right of the fund to call capital. In addition, a pledge of the bank account into which the capital is deposited is also typically required. Subscription credit facility lenders conduct due diligence on the fund (as well as its manager) and the investors in the fund, but the key link between the two is the documentation which evidences the investors’ commitments to contribute capital to the fund following the issuance of drawdown notices.”

Check back with CalALTs as we plan to cover changes in operational due diligence during future webinars!

View Partner Resources from the Virtual Table Talks Series 

A Message From Our President

We look forward to connecting with you in the year ahead. Please do not hesitate to reach out directly to me for a personal introduction or to learn more about membership/partnership benefits. My email is  dlight@gspartners.com.

Industry Highlights

A series of timely articles provided by

CalALTs partner Harvest Exchange  is an investment content distribution and marketing platform designed to help asset managers connect with target audiences using behavioral data and insightful analysis.

Harvest hosts a number of highlights in our newsletters to share several informative and timely content with our community. View these articles using the links below.

To learn more about Harvest and their potential opportunities, click here.

What are some CalALTs Membership Benefits? 

Sign up for Next Week's Discussion with the
CalALTs Next Generation Leaders Group

Share the Promo Code NEXTGEN21 for Complimentary Registration! 

How has the fintech industry changed the technology used by advisors and investors in wealth management? How are investment advisors adapting to the new technology and will additional training/classes be required? 

Discuss future of wealth management and fintech next Tuesday on March 23 at 12:30 pm PDT with guest speakers Mazi Bahadori, Chief Compliance Officer and Vice President of Securities at Altruistand Matthew Hodgen, Managing Director at KPMG. This meeting will be moderated by the group leaders, Mark Xu, Manager and Robert Wood, Audit Senior Manger of Deloitte. 

REGISTRATION
Free for CalALTs Members
$20 for Non-Members (Limited Promotion: Use the code NEXTGEN21 for complimentary registration! Sign up here ). 

MEET OUR GUEST SPEAKERS

Virtual Table Talks - Day Two is Tomorrow! 

We invite you to join us for Part 2 this Thursday, March 18, at 2:30 PDT.  TheVirtual Table Talk Series  features small table discussions with fellow alternative investment professionals and participating partners. Part 2 offers 9 NEW Table Talks! Meet fellow LPs, GPs, asset managers, service providers, and join the #ALTS discussion.

Did you attend Part 1 of the Table Talks Series on Thursday, March 11? You’re already registered to attend Part 2! Be sure to sign-up for your table topics here.

Financial Literacy and Leadership:
Virtual Camp for California Youth

CalALTs has partnered with the Water Buffalo Club  and Money Matters for Youth  to create a virtual camp for kids in LA (ages 10-12), where they'll learn about financial management, the stock exchange, and other valuable leadership skills.

Sign-up to mentor our campers or donate to help fund program expenses & prizes. Assist CalALTs in fostering and shaping the future of the financial industry!

When you are filling out the donation form please use the info below:

Under Campaign select “Covid 19 Special Projects”

Under Affiliated Member please type “CALALTS”

Mentors will be asked to contribute 15-20 minutes of their time during one or more days of the camp, speak with the campers about your role in the industry and how you got there and offer to answer any questions related to the your professional path. Mentors will also be expected to join us for a training meeting on Saturday, March 27th. Click here to learn more.

This month's Member Spotlight is Ralph Santoro, Senior Vice President – Business Development at UMB Fund Services. Ralph is currently an active leader of the CalALTs Private Equity Special Interest Group (SIG). You can a preview of our interview with Ralph below.

Where are you from originally? Where do you reside now?
I was born in Verdun, France, my father was in the U.S. Army and stationed there. After the Army, my dad returned to his home of Kansas City, Missouri where my parents raised me and my two brothers and is where I live today with my wonderful wife and two step-daughters.

What is your focus relative to alternative investments?
As a leading private fund administrator our team’s focus runs the full range of services for private equity, PEFOFs, real estate, hedge funds, venture capital, FOFs, and family office.

What do you find most rewarding about your career?
People – in and around this industry and CalALTs I have met and become professional and personal friends with so many talented and caring people.

When did you join CalALTs? What do you value most about the organization? 
I just CalALTs about 10 years ago. I participate in several CalALTs Special Interest Groups (SIGs) and am a member of the Private Equity Special Interest Group (SIG) planning committee. 

CalALTs Members Eligible for Free Registration

CalALTs members are eligible to attend this year's ALTSLA for free. To claim your complimentary pass, please contact the CalALTs office at info@calalts.org and we will coordinate your registration.

"The ALTSLA program’s agenda has been specifically designed to provide relevant and topical educational content for people who manage, advise, allocate to, or oversee, alternative assets. Throughout this streamlined one-day forum, ALTSLA offers exclusive access to the leading minds from throughout the alternative investment industry, who will provide the latest insight on the future of venture capital, cannabis, cryptocurrency, AI, private equity, private debt, hedge fund and real asset investing. "

Visit our CalALTs COVID-19 Resource Center for helpful and informative resources related to the alternative investment industry. 

A Message From Our President

We look forward to connecting with you in the year ahead. Please do not hesitate to reach out directly to me for a personal introduction or to learn more about membership/partnership benefits. My email is  dlight@gspartners.com.

Industry Highlights

A series of timely articles provided by

CalALTs partner Harvest Exchange  is an investment content distribution and marketing platform designed to help asset managers connect with target audiences using behavioral data and insightful analysis.

Harvest hosts a number of highlights in our newsletters to share several informative and timely content with our community. View these articles using the links below.

To learn more about Harvest and their potential opportunities, click here.

What are some CalALTs Membership Benefits? 

NOW ANNOUNCING THE TABLE TALKS TOPICS!

 CalALTs' Virtual Table Talks is your opportunity to hear from industry experts and network, virtually! We’re proud to announce our first confirmed list of topics from our supporting partners - stay tuned for more to come.

To view full topic descriptions or a complete list of available topics, visit us online at www.calalts.org for updates. 

REGISTRATION
FREE for CalALTs Members
$75 for Non-Members (includes 1-year of membership!)

Updates on ALTSLA 2021

CalALTs Members Are Eligible for FREE Registration!

CalALTs members are eligible to attend this year's ALTSLA for free. To claim your complimentary pass, please contact the CalALTs office at info@calalts.org and we will coordinate your registration.

"The ALTSLA program’s agenda has been specifically designed to provide relevant and topical educational content for people who manage, advise, allocate to, or oversee, alternative assets. Throughout this streamlined one-day forum, ALTSLA offers exclusive access to the leading minds from throughout the alternative investment industry, who will provide the latest insight on the future of venture capital, cannabis, cryptocurrency, AI, private equity, private debt, hedge fund and real asset investing. "

The Future of #FinTech For Young Professionals

With readily available apps for banking, stocks and finance management, fintech companies and apps are changing the game by providing the infrastructure and technology for young professionals to easily access and manage their finances. Join our discussion with guest speaker Mazi Bahadori, Chief Compliance Officer and Vice President of Securities at Altruist to discuss the future of finance, tech and wealth management. 

Prior to this, he worked for PIMCO as VP of Legal & Compliance, Morgan Stanley as a financial advisor and Goldman Sachs as a government affairs associate. He began his career serving as an aide in the U.S. Congress and the White House Counsel’s office. Mazi holds a JD and MBA from Chapman University and a BA in History from UC Berkeley. As a finance executive, Mazi has been responsible for legal, compliance, operations, investor relations, risk management, and cybersecurity functions.

Highlights from Last Week's Private Equity and FinTech SIGs

Earlier this month, Private Equity SIG met for a discussion on non-bank financing and private debt. CalALTs members can view the full discussion in the CalALTs Webinar Archive.

Visit our CalALTs COVID-19 Resource Center for helpful and informative resources related to the alternative investment industry. 

A Message From Our President

We look forward to connecting with you in the year ahead. Please do not hesitate to reach out directly to me for a personal introduction or to learn more about membership/partnership benefits. My email is dlight@gspartners.com.

Industry Highlights

A series of timely articles provided by

CalALTs partner Harvest Exchange is an investment content distribution and marketing platform designed to help asset managers connect with target audiences using behavioral data and insightful analysis.

Harvest hosts a number of highlights in our newsletters to share several informative and timely content with our community. View these articles using the links below.

To learn more about Harvest and their potential opportunities, click here.

What are some CalALTs Membership Benefits? 

CalALTs invites you to a two-day series that will feature small-group discussions lead by thought-leaders from CalALTs partners. Similar to our past Table Talks events, attendees will have the chance to meet and hear from up to 3 Partners per day, during 20-minute discussions.

This is your chance to hear from experts and network, virtually!

Registration Fee:
Registration allows you to access to both days of the series, March 11 and March 18.

• CalALTs Members - FREE to attend. Log-in to register.
• Non-Members - $75 (includes free 1-year membership).

Check our registration page often for updates on 2021 topics, featured Partners, and detailed schedules! 

For additional questions, you may contact the CalALTs Office at info@calalts.org. 

CalALTs Members Can Attend ALTSLA 2021 for FREE

CalALTs members are eligible to attend this year's ALTSLA for free. To claim your complimentary pass, please contact the CalALTs office at info@calalts.org and we will coordinate your registration.

"The ALTSLA program’s agenda has been specifically designed to provide relevant and topical educational content for people who manage, advise, allocate to, or oversee, alternative assets. Throughout this streamlined one-day forum, ALTSLA offers exclusive access to the leading minds from throughout the alternative investment industry, who will provide the latest insight on the future of venture capital, cannabis, cryptocurrency, AI, private equity, private debt, hedge fund and real asset investing. "

Discuss Different Lending Structures, Benefits and Private Debt

Happening Tomorrow! Registration is Still Open 

This week's Private Equity Special Interest Group (SIG) meeting will discuss "Opportunities in Private Lending for the Private Equity Market". Panelists will cover the growth in demand for private lending over the past decade, the benefits of private lending from both the borrower (advisors and GPs) and lending perspectives, different lending structures, and how the current economic challenges have and will have an impact on private lending moving forward.

REGISTRATION:
This meeting is free to attend for CalALTs members. If you are a non-member and interested in attending, join CalALTs! 

What are the Four Categories of Digital Assets?

Join the CalALTs FinTech Special Interest Group (SIG) and our special guest, Jeff Dorman, CIO, ARCA Capital, for an exclusive discussion about Digital Assets on February 8 at 3:00 PM PT. 

Jeff Dorman is Chief Investment Officer at ARCA. In his role, Jeff leads the investment committee, responsible for portfolio sizing and risk management. He has over 17 years of trading and asset management experience at world renowned firms, including Merrill Lynch and Citadel Securities, where he oversaw trading of over $100 million in proprietary capital. He also served as COO of a FinTech company, where he built a social platform that is widely utilized by asset managers and investors.

REGISTRATION:
This meeting is free to attend for CalALTs members. If you are a non-member and interested in attending, join CalALTs! 

What Does the Future of Wealth Management Look Like? 

Now, more than ever, the future of wealth management and technology go hand-in-hand. With readily available apps for banking, stocks and finance management, fintech companies and apps are changing the game by providing the infrastructure and technology for young professionals to easily access and manage their finances. Join our panel discussion with guest speaker Mazi Bahadori, Chief Compliance Officer and Vice President of Securities at Altruist to discuss the future of finance, tech and wealth management. 

REGISTRATION:
This meeting is free to attend for CalALTs members. If you are a non-member and interested in attending, join CalALTs!

2021 Investment Management Outlook: Transforming to Thrive

By

Written by Patrick Henry and Cary Stier

"As new regulatory trends make an impact in the financial services marketplace, how can your organization remain resilient?"

"The COVID-19 pandemic was the global story for 2020, but how firms recover from the pandemic and thrive in a post–COVID-19 world is expected to be the story for the investment management industry for 2021. Industry impact from COVID-19 varied widely, with investment management as a whole sustaining less damage than some other sectors of the economy. Revenues for investment management firms remained largely intact, but the people, the operations, and the technology used by investment managers were impacted. At the same time, market volatility and price movement dramatically accelerated at the industry sector and asset class levels..."

Highlights from Last Week's 
Real Estate and Hedge Funds SIGs

Last week, our Real Estate and Hedge Fund Special Interest Groups (SIGs) held a meeting on real estate investing on opportunity zones and the future of trading. CalALTs members can view the full discussions in the CalALTs Webinar Archive! 
A preview of this discussion is linked below.

Real Estate SIG: Real Estate Investing in Opportunity Zones (View Preview)

Hedge Fund SIG: The Future of Trading (View Preview)

Visit our CalALTs COVID-19 Resource Center for helpful and informative resources related to the alternative investment industry. 

A Message From Our President

We look forward to connecting with you in the year ahead. Please do not hesitate to reach out directly to me for a personal introduction or to learn more about membership/partnership benefits. My email is dlight@gspartners.com.

Industry Highlights

A series of timely articles provided by

CalALTs partner Harvest Exchange is an investment content distribution and marketing platform designed to help asset managers connect with target audiences using behavioral data and insightful analysis.

Harvest hosts a number of highlights in our newsletters to share several informative and timely content with our community. View these articles using the links below.

To learn more about Harvest and their potential opportunities, click here.

What are some CalALTs Membership Benefits? 

You're invited to join CalALTs and our association partners for our first ever Virtual Table Talks Series. This two-day series will feature small-group discussions lead by thought-leaders from CalALTs partners. Similar to our past Table Talks events, attendees will have the chance to meet and hear from up to 3 Partners per day, during 20-minute discussions.

This is your chance to hear from experts and network, virtually!

Registration Fee:
Registration allows you to access to both days of the series, March 11 and March 18.

• CalALTs Members - FREE to attend. Log-in to register.
• Non-Members - $75 (includes free 1-year membership)

Past topics have included:

• The M&A Landscape and Roadmap to Success
• Top Considerations in Starting a Cannabis Fund
• Refining Your Message in Investor Meetings to Maximize Success
• Estate Planning for a New Decade, and Borrowing to Minimize Income Taxes
• Challenges Facing Pre & Post Launch for Emerging Managers and The Outsourced Model
• And more! 

Check our registration page often for updates on 2021 topics, featured Partners, and detailed schedules! 

For additional questions, you may contact the CalALTs Office at info@calalts.org. 

Opportunities in Private Lending for the Private Equity Market

Join us for the next CalALTs Private Equity Special Interest Group (SIG) meeting, where our panelists will discuss "Opportunities in Private Lending for the Private Equity Market". Panelists will cover the growth in demand for private lending over the past decade, the benefits of private lending from both the borrower (advisors and GPs) and lending perspectives, different lending structures, and how the current economic challenges have and will have an impact on private lending moving forward.

Speakers include: 
•    Jeremy Hill, Founder & Managing Director, JB Capital;
•   Matthew Kerfoot, Partner, Dechert LLP 
•  Jeff Topor, Director, Cliffwater, LLC

Click here to learn more about our speakers. 

REGISTRATION:
This meeting is free to attend for CalALTs members. If you are a non-member and interested in attending, join CalALTs! See above for our special membership discount valid in January! 

The “Big One” Just Hit:
The U.S. Cyber Attack Discovered in December 2020

An Article Written By

Written by Michael Seip, MBA, Withum Cyber Sr. Project Manager & Pen Test Lead

As 2020 thankfully stumbled to a close, the most substantial and potentially costly U.S. cyberattack campaign to ever strike the nation’s targets (both government and private industry) was being detected. The attack was operating covertly within network monitoring utilities for approximately nine months prior to its detection.

This article is the first of two-part series concerning the U.S. cyber attack, popularly referred to as the “SolarWinds breach” and the “2020 U.S. federal government data breach.” This part will focus on the attack itself, its’ indicators for concerned SolarWinds users seeking to determine their exposure, and the best recommendations of what to do should concerns arise that your organization or firm is amongst the thousands directly impacted.

What Happened And Why Is It Such A “Big Deal”?

At the time of this article’s writing, information is still emerging rapidly regarding the number of affected users and the magnitude of the attacks, as measured by the cost of total damage or lost/compromised data. The general consensus is that a remote access tool...

Become a CalALTs Member and Join a SIG for 50% Off! 

Use the code: CALALTS50
Promotional Offer Expires January 31st

CalALTs members help make our organization strong and build the community around us. 2020 served as a pilot for our Special Interest Groups (SIGs) to help create new connections, unique content, and an opportunity to meet others with like-minded interests! And boy did they deliver! Beginning in 2021, access and participation in CalALTs SIG events will be available complimentary only to CalALTs members. Non-members will have the opportunity to attend ONE complimentary SIG before being asked/required to join as a CalALTs member.

Thanks to the generous support of our partners, we're able to keep our individual membership dues low, starting at $75. PLUS, if you join by the end of the month, you'll receive 50% off using the discount code CALALTS50. 

View the video below to learn more about CalALTs membership or join to make the most out of 2021!

Discuss Opportunity Zones with the CalALTs Real Estate SIG

Join the CalALTs Real Estate Special Interest Group on Monday, January 25 at 1:00 PM Pacific to discuss real estate investing in opportunity zones. Opportunity Zones were created to stimulate economic development and job creation in low-income neighborhoods by incentivizing long-term investments in these areas. As COVID-19 and racial and economic inequality have heightened the needs of distressed communities, lingering questions remain about the initiative and how its potential stakeholders can benefit. 

Speakers include:

•   Steve Glickman, Founder and CEO of Develop LLC, Former Senior   
    Economic Advisor to President Barak Obama
•   Ira Weinstein, Managing Principal – Real Estate, Cannabis Industries, CohnReznic
•   David Coelho, Chief Strategy Officer of Bridge Investment Group
•   Frank Liu, Managing Director of Canyon Partners Real Estate LLC 

Click here to learn more about our speakers. 

REGISTRATION:
This meeting is free to attend for CalALTs members. If you are a non-member and interested in attending, join CalALTs! See above for our special membership discount valid in January! 

What Will Trading Look Like for 2021 and Beyond?

Join the CalALTs Hedge Fund Special Interest Group next Wednesday, January 27 at 12:00 PM Pacific to discuss risks and opportunities in trading as we embark on a new year. Topics include fundamental vs. technical analysis, passive vs. active investing, bear vs. bull, future outlook and inflation vs. deflation.

Speakers include: 
• Phil Pecsok, Founder and CIO of Anacapa Advisors LLC
•  Vincent Deluard, CFA, Global Macro Strategist, StoneX Group Inc

Click here to learn more about our speakers. 

REGISTRATION:
This meeting is free to attend for CalALTs members. If you are a non-member and interested in attending, join CalALTs! See above for our special membership discount valid in January! 

Discuss the Four Categories of Digital Assets with the FinTech SIG

Join the CalALTs FinTech Special Interest Group (SIG) and our special guest, Jeff Dorman, CIO, ARCA Capital, for an exclusive discussion about Digital Assets. He will be discussing the four different categories of Digital Assets and the opportunities within each category.

Jeff Dorman is Chief Investment Officer at ARCA. In his role, Jeff leads the investment committee, responsible for portfolio sizing and risk management. He has over 17 years of trading and asset management experience at world renowned firms, including Merrill Lynch and Citadel Securities, where he oversaw trading of over $100 million in proprietary capital. He also served as COO of a FinTech company, where he built a social platform that is widely utilized by asset managers and investors.

REGISTRATION:
This meeting is free to attend for CalALTs members. If you are a non-member and interested in attending, join CalALTs! See above for our special membership discount valid in January! 

This month's Member Spotlight is Kim Waldman, Business Development Consultant at Withum. Kim is currently an active member of the CalALTs Hedge Fund Special Interest Group (SIG) and is involved in the upcoming event "The Future of Trading" on January 27. Read a preview of our interview with Kim below. 

What is your focus relative to alternative investments?
With over 20 years of experience in the industry, I laugh a bit when I hear the term “business development.”   Some have this image of smarmy, old-time stereotypical salespeople trying to convince or put one over on unsuspecting buyers.  That’s not what I do at all!  Sure, I familiarize industry participants with Withum’s services and help them understand where our solutions may be applicable and how we’re different from our competitors. However, the core of what I do is consultative – I’m a listener.  What’s important and valuable to one manager may not even be a consideration for another.  I focus on all investment funds, but primarily on start-up and emerging fund managers. Read More.

What do you value most about CalALTs? 
Education, education, education. The group is dedicated to educating and providing resources for their membership within California, but also nationally. It’s more than just webinars, white papers, events and networking – members go out of their way to contribute to other members and support the industry in whatever ways they can. Truly an extraordinary vision and group of people.

What advice do you have for young people getting started in the biz?
First, educate yourself. Read everything about the industry you can get your hands on, even if it’s not specifically related to your role.  You can’t be a trusted advisor within an industry as sophisticated as ours unless you really understand the business.  Second, never refuse to speak to anyone. Your contact network is invaluable.  Third, find a mentor that will help coach you, and never turn down that opportunity to have lunch or coffee with someone that can help you in your career.

Interested in having your own member spotlight? Submit your spotlight here.

Visit our CalALTs COVID-19 Resource Center for helpful and informative resources related to the alternative investment industry. 

A Message From Our President

Stay tuned as we roll out a compelling schedule for 2021.

Please don’t hesitate to reach out directly to me if you are interested in getting more involved with CalALTs.  My email is dlight@gspartners.com.

Industry Highlights

A series of timely articles provided by

CalALTs partner Harvest Exchange is an investment content distribution and marketing platform designed to help asset managers connect with target audiences using behavioral data and insightful analysis.

Harvest hosts a number of highlights in our newsletters to share several informative and timely content with our community. View these articles using the links below.

To learn more about Harvest and their potential opportunities, click here.

What are some CalALTs Membership Benefits? 

Happy New Year!

Going into 2021, CalALTs is thrilled to announce a number of upcoming meetings and offerings to kick off Q1. Read below to learn more about what CalALTs has coming up or visit our Events Calendar for more info!

SEC Rulemaking: Good Faith Determinations of
Fair Value Under the Investment Company Act

A legal update from:

The U.S. Securities and Exchange Commission on December 3, 2020 adopted a long-anticipated rule for the fair valuation of fund investments. Rule 2a-5 under the Investment Company Act of 1940 (final rule or rule): defines “readily available market quotations” as used throughout the Investment Company Act; establishes requirements for determining fair value in good faith; addresses both the board’s and the “valuation designee’s” role and responsibilities relating to fair valuation; and more closely ties together the applicable legal and accounting guidance on valuation.

The concept of “fair value” is embedded in the Investment Company Act’s definition of the “value” of a fund’s assets: the value of securities for which market quotations are not readily available is defined as...

New in 2021, CalALTs SIGs are Free for Members Only

CalALTs members help make our organization strong and build the community around us. 2020 served as a pilot for our Special Interest Groups (SIGs) to help create new connections, unique content, and an opportunity to meet others with like-minded interests! And boy did they deliver! Beginning in 2021, access and participation in CalALTs SIG events will be available complimentary only to CalALTs members. Non-members will have the opportunity to attend ONE complimentary SIG before being asked/required to join as a CalALTs member.

Thanks to the generous support of our partners, we're able to keep our individual membership dues low, starting at $75. PLUS, if you join by the end of the month, you'll receive 50% off using the discount code CALALTS50. 

View the video below to learn more about CalALTs membership or join to make the most out of 2021!

Join the CalALTs Real Estate Special Interest Group (SIG) 

Join the CalALTs Real Estate Special Interest Group on Monday, January 25 at 1:00 PM Pacific to discuss real estate investing in opportunity zones. See further details on this upcoming meeting below.

Opportunity Zones were created to stimulate economic development and job creation in low-income neighborhoods by incentivizing long-term investments in these areas. As COVID-19 and racial and economic inequality have heightened the needs of distressed communities, lingering questions remain about the initiative and how its potential stakeholders can benefit. 

Speakers include:

• Steve Glickman, Founder and CEO of Develop LLC, Former Senior Economic Advisor to President Barak Obama
• Ira Weinstein, Managing Principal – Real Estate, Cannabis Industries, CohnReznick
• David Coelho, Chief Strategy Officer of Bridge Investment Group
• Frank Liu, Managing Director of Canyon Partners Real Estate LLC 

REGISTRATION:
This meeting is free to attend for CalALTs members. If you are a non-member and interested in attending, you must join CalALTs! See above for our special membership discount valid in January! 

Discuss the Future of Trading with the CalALTs Hedge Fund SIG

Join the CalALTs Hedge Fund Special Interest Group on Wednesday, January 27 at 12:00 PM Pacific to discuss the future of trading in 2021. 

What's going on in the trading world as we enter 2021? What are managers seeing moving forward and what trends have we seen develop after a year of COVID-19? Join this meeting to discuss risks and opportunities in trading as we embark on a new year. 

Speakers include: 
•  Phil Pecsok, Founder and CIO of Anacapa Advisors LLC
•  Vincent Deluard, CFA, Director, StoneX Group Inc

This meeting will be moderated by Hedge Fund SIG leaders Kathy Carey from Anacapa Advisors and Kim Waldman from Withum. 

REGISTRATION:
This meeting is free to attend for CalALTs members. If you are a non-member and interested in attending, you must join CalALTs! See above for our special membership discount valid in January! 

Understanding Digital Assets Beyond Bitcoin with the CalALTs FinTech Special Interest Group (SIG) 

Join the CalALTs FinTech Special Interest Group (SIG) and our special guest, Jeff Dorman, CIO, ARCA Capital, for an exclusive discussion about Digital Assets. He will be discussing the four different categories of Digital Assets and the opportunities within each category.

Jeff Dorman is Chief Investment Officer at ARCA. In his role, Jeff leads the investment committee, responsible for portfolio sizing and risk management. He has over 17 years of trading and asset management experience at world renowned firms, including Merrill Lynch and Citadel Securities, where he oversaw trading of over $100 million in proprietary capital. He also served as COO of a FinTech company, where he built a social platform that is widely utilized by asset managers and investors.

REGISTRATION:
This meeting is free to attend for CalALTs members. If you are a non-member and interested in attending, you must join CalALTs! See above for our special membership discount valid in January! 

Save the Date for 2021 Virtual Table Talks

March 11, 2021 | Details to be Announced

Upcoming Special Interest Group Meetings 

This month's Member Spotlight is Bronwyn Bailey, Managing Director, Business Banking at First Republic Bank. Bronwyn is currently an active member of the CalALTs Private Equity Special Interest Group (SIG) and is involved in the planning of this group's 2021 meetings. Read a preview of our interview with Bronwyn below. 

What is your current role and focus relative to alternative investments?
I am the Managing Director, Business Banking at First Republic Bank. My client focus is private equity and venture capital funds, providing their banking and lending needs, and developing private equity thought leadership for First Republic

When did you join CalALTs? What do you value most about the organization? 
I joined CalALTs in 2019 and am now part of the planning team for the Private Equity Special Interest Group. What do you value most about CalALTs? Building relationships with like-minded professionals and service providers in the private fund ecosystem.

What advice do you have for young people getting started in the biz?
Say yes to every opportunity to learn something new. Always be learning.

What else are you passionate about personally?
Getting outside as much as possible, whether it’s walking the dogs in the neighborhood, jogging around Golden Gate park, or hiking the Marin Headlands.

Visit our CalALTs COVID-19 Resource Center for helpful and informative resources related to the alternative investment industry. 

A Message From Our President

Stay tuned as we roll out a compelling schedule for 2021.

Please don’t hesitate to reach out directly to me if you are interested in getting more involved with CalALTs.  My email is dlight@gspartners.com.

Industry Highlights

A series of timely articles provided by

CalALTs partner Harvest Exchange is an investment content distribution and marketing platform designed to help asset managers connect with target audiences using behavioral data and insightful analysis.

Harvest hosts a number of highlights in our newsletters to share several informative and timely content with our community. View these articles using the links below.

To learn more about Harvest and their potential opportunities, click here.

What are some CalALTs Membership Benefits? 

What's on the Menu for Friday's CalALTs Virtual Happy Hour?

This Friday, December 18 at 2:30 PM PT

CalALTs invite you to bring your best holiday gear, make a cocktail and join our FinTech, Hedge Fund, Private Equity, Real Estate and Venture Capital Special Interest Groups (SIG) for a Virtual Happy Hour this Friday, December 18 at 2:30 PM Pacific. 

Click here to view the cocktail ingredients shopping list!

We'll be joined by award-winning mixologist, Nat Harry, who will teach you how to perfectly make a couple of classic cocktails, after which, we'll invite you to take your cocktail to the SIG discussion group of your choice to discuss 2020, how it's impacted your business, and what your outlook looks like for 2021.

Half a Century Later, the SEC Modernizes its Fund Valuation Practices Framework 

It has been over 50 years since the SEC comprehensively addressed valuation rules with respect to the fair value of investments held by registered funds. On Thursday, December 3, 2020, the SEC finalized the new Rule 2a-5 under the Investment Company Act of 1940 to modernize its valuation framework and formalize requirements for complex hard-to-value investments held by registered investment companies and business development companies.

SEC Chairman Jay Clayton describes the new rule: “Main Street investors increasingly access our capital markets through funds and rely on them to value their investments properly. Today’s rule is designed to improve funds’ valuation practices, including by providing for effective board oversight, for the benefit and protection of fund investors.”

Learn more about Rule 2a-5 and our take of the rule’s impact on fund boards, management and your everyday investor.

Shared with permission of Cohen & Company Ltd. Original copyright December 9, 2020.
Contact Cohen & Company for more information at sfarooq@cohencpa.com.

Save the Date for 2021 Virtual Table Talks

Save the date for next year's annual CalALTs Table Talks event to be held virtually on Thursday, March 11, 2021.More details will be announced shortly. For now - mark the date on your calendar!

Upcoming Special Interest Group Meetings 

Highlights from the Next Generation Leaders Panel 

Thank you to our panelists, moderators and to all who attended last week's Next Generation Leaders meeting. It was an insightful discussion with our panelists Matt Hoffman of Deloitte, Ted Parker of Millennium Trust Company and Robert Klein of BNY Mellon | Pershing.

An additional thank you to our moderators and group leaders, Mark Xu and Robert Wood of Deloitte for leading this discussion. See a few highlights below: 

"What would you say to those looking to take the next step to advance their career in alternative investments?"

ROBERT KLEIN: "The network and education is the most important thing. Educate yourself on your potential career options and note where the industry is going - You know yourself the best and what you're interested in.  Every silo of this industry is different, so find the place you like to be and work on your network - whether that be your classmates, your colleagues, your coworkers, etc. From my perspective, that is key to advancing and finding success in the industry. "

MATT HOFFMAN: "The ALTs space is so diverse and robust. If you have a certain passion, educate yourself on what those [investment] strategies are and make sure you're educating yourself to understand how things work. I also recommend attending a conference that gets put on specifically for the ALTs community. Those conferences have tons of asset managers and thought leaders that come from across the nation to speak. These are great opportunities to educate yourself on the industry and grow your network."

TED PARKER: "At Millennium, we strongly believe in education. You've got to look at what kinds of investments interest you and see how you want to accomplish your objectives. The best way to get a job you want is to call a friend in the area and stay connected to your network to see what opportunities are out there."

Interested in joining the CalALTs Next Generation Leaders Group? Let us know! Complete the brief interest form linked below. 

This month's Member Spotlight is Marx Xu, Manager of Deloitte. Mark is currently an active leader of the CalALTs Next Generation Leaders Group. You can a preview of our interview with Mark below.

What is your current role and focus relative to alternative investments?
I am a manager with Deloitte & Touche serving clients in the financial services industry. Currently, I am focused on providing audit and advisory services to numerous private equities, hedge funds, and other investment management companies.

What are you passionate about?
I am passionate about helping my clients improve their performance and operating efficiency surrounding financial reporting and bringing value to their organizations through improving the effectiveness of risk management, control, and governance processes

What advice do you have for young people getting started in the biz?
Take the risk and believe in yourself, you never know the outcome of your efforts unless you try and you’ll always find ways to cross the bridge when you get there.

What do you value most about CalALTs?
I first joined CalALTs in the summer of 2018 when I attended my first event in San Diego while on an out of town trip. What I find most valuable about the organization is the network of professionals across the alternatives industry all coming together for one passion we all have in common.

Partner Spotlight

Platinum Partner

This week's spotlight is CalALTs Platinum Partner EisnerAmper! As our spotlight, they would like to share an upcoming webcast on Thursday, January 21, at 9:15 AM Pacific:Economic Outlook: What To Expect Under a Biden/Harris Administration .

Join Applied Real Intelligence, EisnerAmper LLP, Gibson Dunn, and Morgan Stanley for a timely economic update focusing on what's next for the alternative investment industry under a Biden Administration. This webcast will address unique challenges and opportunities related to the new administration as viewed through the following questions:

• Tax Implications: What tax implications will the new Biden/Harris administration have in the alternative investments industry and what do managers need to do to prepare?
  
• National: A broad economic analysis of the U.S. economy—what it will look like and whose interests are given preference
  
• Financial: A look at how fiscal and monetary policy, and the interplay among various financial variables, will drive the U.S. economy
  
• Deal Flow: After a drop-off of merger and acquisition activity in the private equity sector, innovative practices are needed to close deals and drive returns for investors

Click the button below to register for this upcoming webcast.

Visit our CalALTs COVID-19 Resource Center for helpful and informative resources related to the alternative investment industry. 

A Message From Our President

We have all had to adapt. I do hope CalALTs has helped you to maintain and grow your professional connections. Wishing you and your families the best for the holiday season. Please stay safe and healthy.

Industry Highlights

A series of timely articles provided by

CalALTs partner Harvest Exchange is an investment content distribution and marketing platform designed to help asset managers connect with target audiences using behavioral data and insightful analysis.

Harvest hosts a number of highlights in our newsletters to share several informative and timely content with our community. View these articles using the links below.

To learn more about Harvest and their potential opportunities, click here.

What are some CalALTs Membership Benefits? 

What's on the Menu for the CalALTs Virtual Happy Hour?

CalALTs invite you to bring your best holiday gear, make a cocktail and join our FinTech, Hedge Funds, Private Equity, Real Estate and Venture Capital Special Interest Groups (SIG) for a virtual Happy Hour on Friday, December 18 at 2:30 PM Pacific. 

What's on the cocktail menu? Click here to find out!

We'll be joined by award-winning mixologist, Nat Harry, who will teach you how to perfectly make a couple of classic cocktails, after which, we'll invite you to take your cocktail to the SIG discussion group of your choice to discuss 2020, how it's impacted your business, and what your outlook looks like for 2021.

Debt & Equity in CA from a Real Estate Developer Perspective

This discussion, hosted by the Real Estate Special Interest Group (SIG) and guest speakers Lawrence Taylor, Founder & CEO of Christina Development and Jan Breski Managing Director and Chief Investment Officer of Arixa Capital will cover topics related to debt & equity in California from the perspective of real estate developers. This meeting will be moderated by SIG leaders Benjamin Beer of CohnReznick and Peter Bush of Ernst & Young LLP. We would also like to thank Juniper Square for their sponsorship of this event! 

See below for a white paper shared by speaker Jan Brzeski of Arixa Capital.

Next Week's Hedge Fund Special Interest Group Webinar 

Join the CalALTs Hedge Fund Special Interest Group (SIG) and a panel of industry experts on Tuesday, December 8 from 12:00 - 1:00 PM Pacific for a  follow up talk on capital raising that will cover the following topics: 

• 2020 Major Trends with New Launches and Capital Raising
• Sample Allocator ODD Checklist Walkthrough
• Detailed Portfolio Diligence Items
• What Has Changed Forever
• Outlook for 2021

Panelist include:

Ghufran Rizvi, Chief Operating Officer of HC Global Fund Services
Ari Glass, Founding Partner and Managing Member of Boothbay Fund Management
Robert McGrail, Head of Legal & Compliance of DUMAC Inc

Read Panelist Bios Here

This webinar will be moderated by CalALTs Vice President, Vince Calcagno, CEO of Agile Fund Solutions. Click the button below to claim your spot!

Join the Next Generation Leaders Group Next Thursday

Are you an aspiring professional looking to learn more and get involved in the industry of alternative investments? Join the CalALTs Next Generation Leaders Group on December 10th at 12:30 PM Pacific to meet like-minded professionals and hear from industry leaders on their professional journey through the ALTs industry.

Questions that will be asked include: 

• "How did you get interested in ALTs investment and where did you first begin your professional journey?"
• "What best practices have you learned along the way?"
• "What advice would you give to young professionals looking to break into the industry?"

Panelists Include: 

Matt Hoffman, Audit Partner, Deloitte
Ted Parker, Senior Vice President, Millennium Trust Company
Robert Klein, Vice President - Relationship Management, BNY Mellon, Pershing

Read Panelist Bios Here

This meeting will be moderated by Mark Xu and Robert Wood from Deloitte.

The mission of the CalALTs Next Generation Leaders Group is to connect the next generation of leaders in asset management to improve their ability to network, explore career opportunities, learn from each other and create connections that will last throughout one's career. Join us for this discussion using the button below!

This month's Member Spotlight is Harshan Jeyakumar, Manager of 118 West Capital LLC. Harshan is currently an active leader of the CalALTs Hedge Fund Special Interest Group (SIG). You can a preview of our interview with Harshan below.

What is your current role and focus relative to alternative investments?
I wear two hats - I'm a manager of 118 West Capital Management, LLC, where I run a long-short concentrated strategy focused on the global Cleantech sector. I am also an independent consultant advising investors, lenders, developers, and asset owners in the renewable energy space.

What are you passionate about?
Career-wise, right now I am very excited about creating a business around this fund and RIA. This is my first foray into entrepreneurship. I think you have to enjoy the ‘keeping score’ aspect of this business. Your performance is out there for everyone to see, good or bad. Naturally, you feel great when you have a stretch of meaningful alpha, and on the flip side it can be depressing when you’re going through a period of underperformance. With my strategy based on a long-term perspective, I try to keep both emotions in check and enjoy the ride.

What advice do you have for young people getting started in the biz?
Ask yourself honestly if you really enjoy the profession. Are you interested (fascinated, even) by the finance / academic underpinnings? Do you enjoy the challenge of the day-to-day tasks? Do you like meeting people in the business and talking about your work? Do you like to read the rags to keep up on the industry? If you do, you will naturally keep doing these things, work hard, advance and enjoy the ride up.

What do you value most about CalALTs?
The opportunity to network is most important - learning from people who have been doing this longer than I have. Also, the topics for webinars and panel discussions are usually on-point and interesting to me.

You are invited to the CalALTs FinTech
Special Interest Group Discussion

Join us for our December meeting with the FinTech Special Interest Group (SIG) to discuss the topic of "bitcoin" as a global currency with guest speaker guest speaker Nik Bhatia, Adjunct Professor of Finance and Business Economics at USC Marshall and author of "Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies" 

This discussion will address the following questions below: 

• Bitcoin has already achieved legitimacy as a global currency. How? What about its volatility?
• Central Bank Digital Currencies (CBDCs) are arriving soon. Why? And what will they look like?
• How will the banking industry evolve amidst the growth of CBDCs and cryptocurrencies?

This meeting is free to attend. Click below for more information! 

Visit our CalALTs COVID-19 Resource Center for helpful and informative resources related to the alternative investment industry. 

A Message From Our President