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In a bid to raise the visibility of the hedge fund industry's presence in the state, fund managers will present their perspectives on what it means to invest in their products at a conference Thursday.
"I've set this up to be a real educational and networking event to bring hedge fund managers — really top ones — together with appropriate investors in the state," said Jack Killion, general partner of Eagle Rock Diversified Fund L.P., in the Long Valley section of Washington Township.
The event will be the first of its kind in New Jersey, Killion said.
Accredited investors — those with $250,000 annual income or $1 million in net worth — will hear from 10 hedge fund managers, including Alpine Associates Advisors, of Cresskill; Chatham Asset Management, based in Chatham, and Englewood-based Gargoyle Investment Advisors.
"To be an effective investor in the hedge fund industry, you need to have a longer-term investing horizon. This isn't something like a mutual fund where you can go in today and out tomorrow. All hedge funds have a lock-up period of a year or more," Killion said.
The minimum investment for most hedge funds is $1 million, and in a fund of funds — which invests in other hedge funds — the minimum usually is $250,000, Killion said.
Wealth advisers, hedge-fund servicers and accountants also will present their perspectives on hedge funds, and organizers expect at least 125 investors to attend the conference at the Park Avenue Club, in Florham Park.
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