Black Keith H.

Alternative Investments


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Advisory Council of the UAW Pension Fund, the Law Board of Northwestern University School of Law, and the Board of Directors for the Chartered Alternative Investment Association. Mark earned a BA in Economics and Chemistry from St. Olaf College, a JD from Northwestern University School of Law, and a PhD and Master's in Finance from Columbia University Graduate School of Business.Mark earned the Chartered Financial Analyst, Chartered Alternative Investment Analyst, Certified Public Accountant, and Chartered Global Management Accountant professional degrees, and is a Member of the Bar of the State of New York and the State of Illinois.

      Jim Campasano is the President of Marshall James Capital, LLC, an advisory firm focusing on volatility products. A graduate of Harvard University with a degree in Economics, cum laude, he received a JD from Vanderbilt University School of Law and is a PhD candidate in finance at the Isenberg School of Management, University of Massachusetts–Amherst. Prior to Marshall James Capital, Mr. Campasano worked as a portfolio manager at Vicis Capital and Millennium Limited Partners, where he ran a long volatility, cross-asset portfolio. He contributed to Chapter 30 (Volatility, Correlation, and Dispersion Products and Strategies).

      Michal E. Crowder received her JD from Northwestern University School of Law in Chicago and has a Master of Arts in Political Science from Northwestern University. Ms. Crowder has worked for several hedge fund and investment management firms over the past eight years and has traveled extensively throughout Europe and Asia. She is fluent in four languages and supports a number of not-for-profit endeavors. Ms. Crowder is licensed to practice law in Illinois and currently clerks for the Honorable Judge Abdul Kallon in the United States District Court of Northern Alabama. She is the primary author of Chapter 34 (Regulation and Compliance).

      Satyabrota Das has more than 10 years of experience working in financial markets. He has developed and traded hedge fund and CTA replication products using liquid exchange-traded securities. Most recently, he developed an interactive web-based replication program that allows investors to create customized replication portfolios. Previously, he supported the Alternative Commodity Benchmark Index, a secondgeneration commodity index, for Alternative Investment Analytics, LLC.He is a CFA and CAIA Charter Holder, and is working on his PhD at the Isenberg School of Management, University of Massachusetts–Amherst.He is the primary author of Chapter 31 (Hedge Fund Replication).

      Malay K. Dey is currently a senior partner of FINQ LLC, a diversified financial technology startup.He held faculty positions at the University of Illinois at Urbana Champaign, Cornell University, and the University of Minnesota, Twin Cities. Professor Dey has frequently visited the Indian Institute of Management Calcutta (IIMC) and has lectured at ISI Calcutta and other leading Indian institutions. He was a Research Fellow at the Networks Financial Institute at Indiana State University (2006–2008) and served as a Vice President, quantitative trading strategy, at ITG from 2006 to 2007. Professor Dey received his PhD in Finance from the Isenberg School of Management, University of Massachusetts–Amherst. His research focuses on theoretical and empirical issues related to institutional trading and liquidity in equity markets. He contributed to Chapter 27 (Relative Value Strategies).

      Jaeson Dubrovay is a Managing Director at Blackcomb Holdings, Inc., an independent investment company. Previously he was a partner and cohead of Americas advisory for Aksia, LLC, one of the largest hedge fund specialty consulting firms. Prior to that, he was the Senior Strategist, Hedge Funds, at NEPC LLC, one of the industry's leading general investment consulting firms.Mr. Dubrovay has been managing money and consulting with leading institutional investors in connection with their hedge fund portfolios for more than 25 years. In 2008, he was named the Hedge Fund Consultant of the Year (Institutional Investor) and recognized for his contribution to the Investors Committee of the President'sWorking Group on Financial Markets, on Hedge Fund Best Practices. In 2009,Mr. Dubrovay was named Consultant of the Year by Foundation & Endowment Money Management (Institutional Investor) and was the major contributor to the team at NEPC that was named PLANSPONSOR magazine's Alternative Asset Consultant of the Year. He is a CPA and CAIA Charter Holder. He holds an MBA with honors from Santa Clara University. He is the primary author of Chapter 32 (Funds of Hedge Funds and Multistrategy Funds).

      Urbi Garay received a PhD in Finance from the Isenberg School of Management, University of Massachusetts–Amherst, an MA from Yale University, and a BA in Economics from Universidad Católica Andrés Bello (Caracas, Venezuela). He is a Professor of Finance at the IESA Business School (Caracas, Venezuela). He was a visiting researcher at the CISDM (2007–2008), and has been a visiting professor at various business schools in Latin America, the United States, and Europe. He has been a consultant to the Inter-American Development Bank, the Venezuelan Central Bank, and the Caracas Stock Exchange. He is a coauthor of Fundamentals of Finance (IESA, 2005) and Long Term Investing (IESA, 2007).He has published articles in The Journal of Alternative Investments, Emerging Markets Review, Emerging Markets Finance and Trade, Econometrics, Corporate Governance: An International Review, and the Journal of Business Research. He is the primary author of Chapters 1418 (Real Estate) and 35–36 (Structured Products).

      Kathryn Kaminski is a Director at Investment Strategies at Campbell & Company. Prior to her recent move to Campbell & Company, she was DeputyManaging Director at the Institute for Financial Research (SIFR) and affiliated faculty at the Stockholm School of Economics. She is a featured contributor to the CME Group. Kathryn has experience working for a CTA fund of funds as well as quant experience in both emerging fixed income and credit markets. She lectures on derivatives, hedge funds, and financial management at the Stockholm School of Economics and has lectured previously at the Swedish Royal Institute of Technology (KTH) and the MIT Sloan School of Management. Kathryn completed her PhD at MIT Sloan, conducting research on financial heuristics. Kathryn is a coauthor of Trend Following with Managed Futures: The Search for Crisis Alpha (2014, John Wiley & Sons). Kathryn is a 100-Women in Hedge Funds PAAMCO CAIA Scholar and a CAIA Charter Holder. She is the primary author of Chapters 25 and 26 (Managed Futures).

      Jim Kyung-Soo Liew is an Assistant Professor of Finance at Johns Hopkins Carey Business School. Dr. Liew teaches Advanced Hedge Fund Strategies, Corporate Finance, Derivatives, Entrepreneurial Finance, Fixed Income, and Wealth Management at the Johns Hopkins Carey Business School. Prior joining Johns Hopkins, Dr. Liew taught Statistical Arbitrage at Columbia University and CUNY Baruch College, and Hedge Fund Strategies at NYU Stern School of Business, as an Adjunct Professor Prior to that, he worked in the hedge fund industry where he built and implemented systematic investment strategies. Dr. Liew currently serves on the Editorial Advisory Board of The Journal of Portfolio Management. He resides with his wife and two daughters just outside of Baltimore. He is the primary author of Chapter 28 (Hedge Funds: Directional Strategies).

      George Martin is a Senior Advisor to Wood Creek CapitalManagement, a real assets investment manager that is an affiliate of MassMutual and its asset management subsidiary Babson Capital Management. At Wood Creek, he has particular responsibility for matters related to research, portfolio construction, and risk management, and with a sector focus that emphasizes mid- and upstream agriculture. He is also a Senior Research Associate for the Center for International Securities and Derivatives Markets (CISDM) at the University of Massachusetts, Amherst, and a member of the Editorial Board of The Journal of Alternative Investments. He has been commercially active in real asset investing and commodity-based investments for the past decade. He is regularly called upon to speak on various aspects of the Alternative Investment business, and frequently publishes his research. Previously, he was a Research Fellow at the Brookings Institution. He has a BA and MA from Johns Hopkins University. He is the primary author of Chapters 20 and