Last year marked an incredible milestone for Institutional Investor - its 50-year anniversary, commemorating its leadership in the institutional investor community. That means II has been around for the entire life span of Elliott Management, which was founded in 1977. Though many publications have covered the major financial events of the past five decades, none have been as committed as II to covering what is actually happening in the industry. Notably, Institutional Investor has paid equal attention to both managers and allocators, highlighting the leading minds and strategies from both. The uniqueness of this dual focus was brought home for me when the legendary Tom Hill, who pioneered Blackstone's fund-of-funds business, was chosen to present me with the Institutional Investor Lifetime Achievement Award in 2016, and I was invited to return the favor when Ⅱ honored Tom the following year. II's commitment to covering all aspects of our industry also helped it be first to bring to the main stage new, emerging players in the world of alternative investing. Hedge funds, for instance: In 1968, Institutional Investor published a cover story on their "mystique" - complete with a swirling, psychedelic, tie-dye cover image, Of course, the big secret about hedge funds is that they are not that mysterious at all. Rather, every hedge fund investment simply means trusting a particular manager or firm to guard your capital as if it were their own. More so than other publications, II and its sister magazine Alpha have always understood the importance of manager selection and have helped "demystify" our industry fortheir readers. We will miss seeing/Ion the coffee table, but we will continue to follow its coverage online with great interest, and we wish the II team all the best.
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