November 8th-10th, New York, NY
Day one: Wednesday, November 9th, 2011
Macroview and international institutional investment
8:15
Breakfast and registration
FULFILLING INTERNATIONAL POTENTIAL
9:00
Chairman’s opening remarks
9:10
Keynote address: Dismissing the imaginative risk - why Brazil is an opportunistic and safe
investment

Reviewing Brazil’s investment landscape: What is the true investment potential? What challenges will it
face in transitioning from an emerging to developed economy?

What are international allocators looking for and does foreign fear come from? - emerging market,
political concerns, regulation, the unknown

Will Brazil succeed in living up to expectations and deliver on the 2014 World Cup and 2016 Olympic
Games?

By the numbers - where Brazil was and where it’s going

How important are Brazil opportunities on the world stage?
Potential speaker:
Eike Batista, Founder and President, EBX
9:40
Keynote address: Getting real with the real – Brazilian currency valuation

As the real appreciates, is a currency bubble a legitimate risk?

Currency volatility on exports – avoiding noncompetition

Foreign investors’ impact on interest rates and inflation – has the IOF worked to depreciate the real?

Overcoming market fragmentation

How has Europe’s debt crisis impacted Brazilian liquidity?

How will the RMB affect the real?
Potential speaker:
Luciano Coutinho, President, BNDES
10:10
Establish new relationships in one powerful, ‘quick-fire’ speed networking session.
10:50
Morning refreshments and networking
BRIDGING THE GAP BETWEEN THE EAST AND THE WEST
11:10
Panel session: Breaking down the BRIC: why each country deserves separate status

Brazil vs. China – the democracy/communist difference and the risk of a Chinese bubble
Matthew Bednarsky, Conference Manager
Tel: +1 646 619 1788 / Fax: +1 212 379 6319
Email: matthew.bednarsky@terrapinn.com
To find out more visit the website at http://www.terrapinn.com/2011/quant-invest-chicago/


Brazil vs. India – India has 23 stock exchanges, a multitude of languages and cultures and nuclear
involvement; Brazil has one exchange, one culture and no ties to nuclear weapons
Brazil vs. Russia – Russia’s contrasting private property system and dependency on oil and gas
Potential speakers:
Shri Chandra Sekhar Mohapatra, Director - Capital Market Division, Ministry of Finance - India
Guido Mantega, Minister, Ministry of Finance – Brazil
Raj Mehta, Managing Director, Persistent Edge Management
Brenda Tse, Managing Director - Greater China, Permal
INTERNATIONAL INSIGHT
11:50
Keynote panel session: Best practices and insights from global fund managers

Strategies, lessons and stories learned from the fund world’s thought leaders

Applying these tactics to Brazil

How hedge funds have weathered the global economic crisis

Forecast for Brazil’s development and investment potential
Potential speakers:
Jonathan Wauton, Chief Investment Officer, Ermitage
Lawrence Robbins, Chief Executive Officer, Glenview Capital
Nagi Kawkabani, Co-CEO, Brevan Howard
James Melcher, Founder, Partner and Chief Investment Officer, Balestra Capital
12:30
Networking lunch
1:30
Keynote address: Global allocation strategies and the growing importance of Brazil

Does the traditional asset allocation model still work? Have pension funds given their buy-in to “trendier”
and more dynamic alternative models?

To what extent does the “internationalization" of the pension fund cut its risk through diversification?

Adopting a global tactical asset allocation model – can it work and how can it be done?

Spotlight on Brazil – are pension funds hooked or are they hesitant to invest in emerging markets?
Potential speaker:
Christopher Ailman, Chief Investment Officer, CalSTRS
ALTERNATIVE ASSETS
2:00
Panel session: Building on the Brazilian real estate boom

From stagnation in 2009 to growth in 2010 and 2011 – what will 2012 bring in the real estate sector?

Post-election outlook: regulation, interest rates, and the real

How will massive investment in national infrastructure affect construction costs and real estate returns?

What do record-low unemployment and skilled labor shortages mean for developers? Does Brazil need
updated labor laws?

Housing and retail: what a growing middle class will mean for these sectors
Potential speakers:
Wilson Amaral, Chief Executive Officer, Gafisa
João Rossi, Co-Founder & Chairman, Rossi Residencial
Mauricio Levitin, Managing Director, Peninsula Investments Group
Richard Strasser, Director of Latin America, Contrarian Capital Management
Eric Lang, Managing Director, Real Assets, Teacher Retirement System of Texas
2:40
Panel session: Agriculture - a sleeping giant in investment

Is food the next oil? – how a growing population and worldwide need are propelling agriculture
investment potential

Wheat, corn, soy and other crops that hold the highest upside

The future of farmland: the increasing trend of buying farmland to farm and not for housing development
and the need for increased productivity

Where are the investment opportunities in packaged food?
Matthew Bednarsky, Conference Manager
Tel: +1 646 619 1788 / Fax: +1 212 379 6319
Email: matthew.bednarsky@terrapinn.com
To find out more visit the website at http://www.terrapinn.com/2011/quant-invest-chicago/

The inextricable link to infrastructure: what needs to be done for both sectors to excel
Potential speakers:
Patrick Morris, Chief Executive Officer & President, HAGIN Capital
Philip Corzine, General Manager, South American Soy
Ethel Senhauser, Sector Manager, Latin America and the Caribbean, Agriculture and Rural Development Team,
World Bank
Warren Weissman, Chief, Industries and Services Division, Structured and Corporate Financing Department, InterAmerican Development Bank
3:20
Afternoon refreshments and networking
3:40
Panel session: Harnessing Brazil’s infrastructure explosion

Accommodating for the World Cup and the Olympics - what are the needs and opportunities?

Infrastructure versus other alternative asset classes – how much should you allocate?

Beyond BNDES - what is the role of private investors?

What role do hedge funds play for institutional investors interested in infrastructure investment?

The case for infrastructure funds: municipality contracts, market independence, high returns
Potential speakers:
Caio Megale, Partner and Chief Economist, Maua Investimentos
Andrew Bogan, Managing Member, Bogan Associates, LLC
Alexandre Povoa, Senior Partner, Modal Asset Management
Marcelo Moreira, Chief Executive Officer, Tiba Agro
4:20
Panel session: The opportunities and challenges international institutional investors face

How ready are international investors to allocate to emerging markets?

A young, dynamic Brazilian economy - where do investors see the most opportunity?

Discussing chief concerns - shallow market, politics, currency questions, finding properly audited,
trustworthy companies

Pros and cons of going for a private Brazilian fund manager or a global fund manager with a Brazilian
presence

How should fund managers prepare themselves for institutional investor due diligence?
Potential speakers:
Andres Restrepo, Strategy Investments Manager, AFP Porvenir
Gonzalo Camargo, Chief Investment Officer, AFP Horizonte
Christopher Ailman, Chief Investment Officer, CalSTRS
Michael Bunn, Chief Investment Officer, The Endowment Office
Nikhil Shah, Portfolio Manager - Public Market Investment, Canada Pension Plan Investment Board
5:00
Chairman’s closing remarks
5:10
End of day one
5:20
Networking drinks reception
Matthew Bednarsky, Conference Manager
Tel: +1 646 619 1788 / Fax: +1 212 379 6319
Email: matthew.bednarsky@terrapinn.com
To find out more visit the website at http://www.terrapinn.com/2011/quant-invest-chicago/
Day two: Thursday, November 10th, 2011
Hedge funds, electronic trading and private equity
8:15
9:00
Breakfast and registration
Chairman’s opening remarks
BRAZIL’S MARKET POTENTIAL
9:10
Keynote address: How international investors can penetrate the market via the hedge fund model

Coming up to speed – how hedge funds and asset managers have capitalized on the growth story of
Brazil

Due diligence and preparation prior to investing in Brazil

What are the options for investing in a fund? How layered is the process?

Only the cream of the crop gets offered as a public security – where are the value funds?

Analyzing the realistic challenges and potential results – is Brazil like other emerging markets?
Potential speaker:
Andre Esteves, Chief Executive Officer, BTG Pactual
9:40
Panel session: Capitalizing on the real returns - underexplored Brazilian mid and small cap
investment opportunities

Alpha from undercovered and off benchmark stocks

Are investors compensated for the illiquidity premium in small cap investing?

The growth/risk dichotomy – what should investors know before including small cap within their
portfolios?

What liquidity terms/ lock-ups make sense?
Potential speakers:
Marc Fogassa, Managing Partner, Hedgefort Capital
Fabio Figueiredo Carvalho, Co-Founder, Orbe Investimentos
Alexandre Martins, Partner and Fund Manager, Edge Investimentos
10:20
Morning refreshments and networking
ATTRACTING OUTSIDE INVESTMENT
10:40
Panel session: Fundraising – capturing the eyes and allocations of investors

What do international investors want?

How can fund managers stand out from the crowd?

Analyzing the appropriate vehicles depending on region

Reviewing key compliance points for a fund raising capital outside of Brazil

How necessary is having a local presence?
Potential speakers:
Wanderley Rezende, Executive Manager for Investment, PREVI
Mauricio da Rocha Wanderley, Chief Investment Officer, Fundação Vale do Rio Doce de Seguridade SocialVALIA
Jonathan Hausman, Vice President, Alternative Investments, Ontario Teachers’ Pension Plan
John Keane, Executive Director, Jacksonville Fire and Police Pension Fund
11:20
Panel session: Taking your fund from emerging to established

Requirements to take your hedge fund to the next stage

Advantages of functioning as a large-scale asset manager versus a smaller fund

Achieving operational efficiency

Risk of investment managers significantly below high water marks

The rise of M&A activity in asset management globally and Brazil specifically
Potential speakers:
Thomas Souza, Founding Partner and Chief Investment Officer, AguasClaras
Matthew Bednarsky, Conference Manager
Tel: +1 646 619 1788 / Fax: +1 212 379 6319
Email: matthew.bednarsky@terrapinn.com
To find out more visit the website at http://www.terrapinn.com/2011/quant-invest-chicago/
Eduardo Munemori, Partner and Portfolio Manager, Explora Investimentos
Arthur Mizne, Chief Executive Officer, M Square
Rodrigo Anunciato, Founder and Managing Partner, Cox Capital
12:00
Networking lunch
CONNECTING BRAZIL TO THE GLOBAL TRADING NETWORK
1:00
Panel session: Defining what quant trading means in Brazil

What is the Brazilian market structure and makeup? How much trading is quant and HFT?

What is holding it back? - lack of infrastructure, lack of confidence, lack of focus on honing market
making

How fast will quant pick up? Who can capitalize?

Increasing market making and expanding the derivatives market
Potential speaker:
Richard Bibb, Chief Investment Officer, AIMhedge
Rodrigo Chicaroli, Member, Management Team, Pátria Investimentos
Evandro Mota, Trader, Opus Gestao de Recursos
Brigitte Posch, Executive Vice President, Portfolio Manager, PIMCO
1:40
Panel session: Direct market access to Brazil – how can banks and brokers capitalize?

Tailoring algorithms to Brazil – what are the benefits of “flexible participation” algorithms, versus the
standard “time-based” models?

What are broker houses doing to strengthen connectivity with the BM&F BOVESPA and what is the
exchange doing to reduce latency?

What impacts has international DMA had on fundamental and quant trading strategies as a result of
increased volume, liquidity and tighter spreads?
Potential speakers:
Christian Zimmer, Head of Quantitative Strategies, Itau
Alberto Araujo, Chief Operations Officer, Kairos Asset Management
Sergio Blank, Director, Kadima Asset Management
PRIVATE EQUITY
2:20
Panel session: Private equity in the institutional portfolio

The importance of pension funds in Brazilian private equity investments

Private equity priorities – sector by sector analysis of institutional investors’ equity portfolios
o Oil and gas
o Transport
o Hydropower
o Airport
o Healthcare and insurance

Private equity allocations amidst falling returns, and the hurdle effect of minimum return guarantees

PRI and ESG sustainability
Potential speakers:
Wanderley Rezende, Executive Manager for Investment, PREVI
Vagner Lacerda, Chief Investment Officer, BB Previdencia
Massie Meredith, Chairman of the Investment Committee, Richmond Retirement System
Alex Moskowitz, Vice President, Government of Singapore Investment Corporation
3:00
Afternoon refreshments and networking
3:20
Panel session: Activism as a strategy

The history of activism in Brazil - who has used the strategy and why?

What unique skills and tools are needed or the strategy to be a success?

Does activism make sense for hedge funds or is it more appropriate for private equity?
Potential speakers:
Matthew Bednarsky, Conference Manager
Tel: +1 646 619 1788 / Fax: +1 212 379 6319
Email: matthew.bednarsky@terrapinn.com
To find out more visit the website at http://www.terrapinn.com/2011/quant-invest-chicago/
Mauricio Levi, Chief Investment Officer, FAMA Investimentos
Pedro Rudge, Founding Partner, CFO and COO, Leblon Equities
Eduardo Mufarej, Senior Partner, Tarpon Investimentos
Diogo Figueiredo, Rio Bravo Investimentos
REGULATION, GOVERNMENT AND TAXATION
4:00
Understanding the IOF, taxation and regulation in Brazil

CVM point of view – where are we now and what needs to be done to add more liquidity to the Brazilian
corporate debt market?

Examining CVM 450 and 465 – how have these regulations impacted investor appetite for global
markets?

Growth of credit availability in Brazil

The current state of the Brazilian secondary market

IOF outlook – how far will it extend to equities and capital gains?

Beyond Brazil – how do US and European UCITS/AFIM compare with CVM regulations?
Potential speaker:
Otavio Yazbek, Commissioner, Comissão de Valores Mobiliários
4:30
4:40
Chairman’s closing remarks
End of day two
Matthew Bednarsky, Conference Manager
Tel: +1 646 619 1788 / Fax: +1 212 379 6319
Email: matthew.bednarsky@terrapinn.com
To find out more visit the website at http://www.terrapinn.com/2011/quant-invest-chicago/