The 20 Rising Stars of Hedge Funds 2008

multiple investment strategies across a single platform.Those firms will be supplemented by a limited number of either geographic or asset-specific specialist firms, he added. 11. JACK MCDONALD President and Chief Executive Officer Conifer Securities, San Francisco Age: 42 Education: Georgetown University (B.A. in Humanities and International Affairs); Georgetown University Law Center (J.D.) Mentor: Dick Del Bello, Senior Partner, Conifer Securities McDonald joined Conifer Securities in 2005 as an executive v.p. responsible for business development and attained his current post this past January. Conifer offers middle and back office services that include global fund accounting and administration, trade operations, execution, compliance, corporate accounting, consulting and business infrastructure and has more than $5 billion in assets under administration. “One initiative I spearheaded while at Conifer was the unbundling of our services, which included moving from a soft-dollar model to a hard-dollar model,” McDonald said. “There was uncertainty as to the impact this decision would have on our existing and future clients.Three years after the fact, we are very happy with our decision.” Prior to joining Conifer, McDonald worked at UBS from 2000 to 2005. There, he was a managing director responsible for running the bank’s institutional equity business in the Western region. He started his career in finance with Schroders, working there from 1993 to 1999 as a v.p. of institutional equity sales. MAY 2008 12 . PAULINE MODJESKI “I gravitated toward the hedge fund industry from institutional long-only managers and found dealing with alternative asset managers was more exciting,” McDonald said.“Hedge fund managers are more experimental in terms of investing and make quicker decisions as it pertains to evolving their business.” He added that he plans to continue working with Conifer for the foreseeable future, making the firm an increasingly dynamic and diverse business. The financial services firm McDonald most admires is Farallon Capital Management because of its impressive track record with high-quality investors. For innovation, he most admires Apple. “At Conifer, we strive to emulate many of the characteristics of the above companies,” he noted. As for the future of the industry, McDonald expects the hedge fund market to become increasingly institutional. “There will be fewer funds overall, and those that exist will have a high pedigree in terms of experience, track record and operations,” he predicted.“There also will be a greater focus on infrastructure and the investor base.” 12. PAULINE MODJESKI President and Executive Managing Partner Horizon Cash Management, Chicago Age: 41 Education: N/A Mentor: Diane Mix, Chairman and Founder, Horizon Cash Management Modjeski was named president and executive managing partner of Horizon Cash Management in January. Between HEDGE FUND RISING STARS 27

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The 20 Rising Stars of Hedge Funds 2008 Contents Looking Great for 2008 A Matter of Supply and Demand Return Performance Highlights Challenging Period 20 Rising Stars of Hedge Funds Mentors' Page

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