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27 Apr 2011

9th Annual Midwest Benefit for Hedge Funds Care

HedgeCo News - Midwestern hedge fund managers and other alternative investment industry members will be meeting for the 9th Annual Midwest Open Your Heart to the Children Benefit on May 19th in Chicago, Illinois.

In support of Hedge Funds Care, a global non-profit organization that works to prevent and treat child abuse, the gala will be held at the new JW Marriot in Chicago (151 West Adams St., Chicago, IL) from 5:30pm until 10:00pm CST.

In addition to this year’s reception, there will be a ceremony held at 7:00pm followed by a high profile live auction featuring items such as the privilege of throwing a ceremonial pitch at Wrigley Field along with 4 box seats to the game and a once-in-a-lifetime trip to Paris in a luxurious Gulfstream 450 and a private apartment.

Additionally, The Kelly Lively Memorial Award, given in recognition of outstanding commitment to Hedge Funds Care and the prevention of child abuse and neglect, will be presented to Mesirow Advanced Strategies, Inc. The Co-chairs for the event are Amy Rosenow, Chief Operating Officer of Sheffield Asset Management, LLCand Jennifer Edgcomb, Vice President GEM Realty Capital, Inc. Attendees will include hedge fund investors, service providers and senior professionals, including some of the most recognized and respected investment managers in the industry.

“Thanks to the plentiful help and support of the Midwest alternative investment industry, the Chicago benefit is in its 9th and what we hope to be its most successful year. We call on our colleagues in the financial services industry to help us set a new annual fundraising record as every little bit can make a difference in the lives of these children,” said Jennifer Edgcomb, Vice President GEM Realty Capital, Inc.

“Hedge Funds Care has been steadfast in pursuing our vital mission since the charity was founded: working to raise and invest funds for best-of-breed programs to prevent and treat child abuse and neglect.” stated Amy Rosenow, Chief Operating Officer of Sheffield Asset Management, LLC. “It is wonderful that the hedge fund industry can work together to show the world the power of targeted philanthropy in helping these children who are so much in need.”

Since its inaugural grant-making cycle in 2003, the Midwest Chapter has made 121 grants totaling in excess of $4,200,000. The ongoing commitment of hedge fund industry professionals and investors, Hedge Funds Care looks forward to continuing to support existing grantees while also expanding support to new programs.

The Midwest Committee of Hearts is co-chaired by Ron Suber, Senior Partner of Merlin Securities, and Benji Wolken, Partner at Ernst & Young LLP.

Activist Hedge Fund Challenges Board At Fisher Communications

HedgeCo News - FrontFour Master Fund, Ltd., an affiliate of hedge fund investor FrontFour Capital Group LLC., has written a letter to the stockholders of Fisher Communications, Inc., criticizing the current board of directors and nominating new candidates. Fisher's stock has recently declined by 48%, representing a total stockholder loss of $173 million.

"FrontFour is compelled to run this election contest because after having one representative on the Board for two years, we were unable to get the Board to take the necessary steps to improve stockholder value." the activist hedge fund investor, who is also a long-term stockholder of Fisher, said in the letter, "We are seeking your support to elect highly qualified candidates to the Board of Directors of Fisher at its 2011 Annual Meeting of Stockholders."

FrontFour has nominated John F. Powers, Joseph J. Troy, Matthew Goldfarb and Stephen Loukas as qualified director candidates.

"If elected, our nominees will seek to have the Board carry out an operational and strategic analysis of all alternatives to maximize stockholder value, including ways to monetize Fisher Plaza." FrontFour concluded.