Recent arrests of Bernard Madoff and other investment managers alleged to have defrauded investors have sent shock waves throughout the nonprofit financial community. As a result of these events, and the historic volatility and disruption in global financial markets, many trustees, board members and investment committee members of foundations, charities, endowments and pension funds have begun to more closely consider their investment policies (including the extent to which such policies include allocations to hedge funds and other alternative investments) and their due diligence processes for selecting investment managers as well as outside consultants and advisers. What are the duties of investment fiduciaries in connection with the investment function and what "best practices" should be considered in connection with due diligence of traditional long-only and alternative investments, as well as in the setting or reformulating of your investment policy.
Presentation is a "Legal Quick Hit" audioconference for the Association of Corporate Counsel's Nonprofit Organizations Committee.
Speaker: Rory M. Cohen, Esq., Partner, Venable LLP, New York, NY
March 10, 2009, 3:00 - 3:30 pm ET