Subject: RE: Take a look at these guys
From: "Neil Callahan" <[email-masked]>
To: "'Hunter Biden'" <[email-masked]>
Date: Mon, 18 Oct 2010 11:32:46 -0700

So Rothstein Kass is making good progress on getting “insured” private equity and hedge fund product into Union and Public pension plans.

One of my main learnings about the Public//Union space is that they want to see product that is tailor to their specific needs, they are fully interested in just shopping the current hedge funds because they know who they are and it costs money and time to do due diligence at two levels:  investment strategy and operational transparency, with the later taking more time and money.

If we and/or the clients had a specific point of view for Public/Union plans and/or had a specific product designed around their needs (i.e., downside risk protections, operational visibility/compliance, sector/asset selection).  Essentially this is a Derivative product, but it can be designed and managed in a way that is simple and transparent.

And to design such a product you need a back stop to take on the risk.  And I think offshore SWFs would take the other side to make such a product viable.  CIC, Korea  and others may find the other side of this trade attractive and have the balance sheet to do something of this nature rather than a syndication model ala mortgage back securities, we’d be going to 3-5 folks, not syndicating to thousands.

Bottom Line:  Public and Unions will take a meeting in a heart beat if there is product to talk about that is specific to their needs – Rothstein Kass is already there, in a tiny way, but a significant way.

And, their lead guy on this (Jeffrey Kollin) worked with one of my best friends at Lehman Brothers for 10 years (Joe Castle, Devon knows him as well), so we have a warm relationship to jump on if we so choose.

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Neil Callahan

Rosemont Seneca

401 Greenwich Street, Suite 400 | New York NY 10013 | 212-933-9965 | 212-796-4037

1010 Wisconsin Avenue, Suite 705 | Washington DC 20007 | 202-333-1880

917-945-9516 (mobile) 

866-749-8879  (fax) 

From: Hunter Biden [mailto:[email-masked]] 
Sent: Wednesday, October 13, 2010 4:30 PM
To: <[email-masked]>
Subject: Re: Take a look at these guys

You should make as much hey out of this time as possible for both clients and our own funds - this our sweet spot.

On Oct 12, 2010, at 9:35 PM, Neil Callahan <[email-masked]> wrote:

I will be spending time with them in LV.  Could be a prospect for access to network, etc.

http://www.rkco.com/site/default.aspx

 

------------------------------------------------------------------------------------------

Neil Callahan

Rosemont Seneca

401 Greenwich Street, Suite 400 | New York NY 10013 | 212-933-9965 | 212-796-4037

1010 Wisconsin Avenue, Suite 705 | Washington DC 20007 | 202-333-1880

917-945-9516 (mobile) 

866-749-8879  (fax)