Fwd: Millennium / Arlene Busch referral

From: "Arlene Busch" <abusch@rosemontseneca.com>
Date: September 25, 2010 3:47:38 PM EDT
To: "Hunter Biden" <hbiden@rosemontseneca.com>,"Eric Schwerin" <eschwerin@rosemontseneca.com>
Subject: Fw: Millennium / Arlene Busch referral
Reply-To: abusch@rosemontseneca.com

Fyi....
Arlene Busch
202-333-1880
Abusch@rosemontseneca.com


-----Original Message-----
From: "Novogratz, John" <John.Novogratz@mlp.com>
Date: Sat, 25 Sep 2010 15:27:30
To: <abusch@rosemontseneca.com>
Subject: Re: Millennium / Arlene Busch referral

Thanks Arlene.
I appreciate that. I need to make the call on whether we extend the arrangement past year 1. I always enjoy the dialogue and you guys went beyond the call by sitting me next to the gov at the dinner. I know many groups would jump to have you working with them. I am just unsure as to whether we are the right fit with your relationships. And when we both went into this agreement we were zero in marketing and ir. Now we are 11. Assets also have really picked up which is nice. Just need to decide from my perspective if we should renew/ continue the relationship.
Look fwd to speaking.
Best, John

On Sep 25, 2010, at 2:16 PM, "Arlene Busch" <abusch@rosemontseneca.com> wrote:

John,

As I mentioned to Mark on Friday, I agree. I will speak with Mark on Monday and either myself or Hunter will give Bert a call and try to figure out what he is talking about.

Arlene Busch

202-333-1880

Abusch@rosemontseneca.com

-----Original Message-----

From: "Novogratz, John" <John.Novogratz@mlp.com>

Date: Sat, 25 Sep 2010 13:25:13

To: Dunn, Mark<Mark.Dunn@mlp.com>; <abusch@rosemontseneca.com>

Subject: RE: Millennium / Arlene Busch referral

aggressive nature?  Does he invest in Hedge Funds... i hardly call a 4.5 volf fund with a 2.5 sharpe over 20 years aggressive, but to each his own....  Mark lets discuss... Arlene - i wil revert shortly....

________________________________

From: Dunn, Mark

Sent: Fri 9/24/2010 1:36 AM

To: 'abusch@rosemontseneca.com'

Cc: Novogratz, John

Subject: FW: Millennium / Arlene Busch referral

Arlene, FYI below.  Let's discuss a response, if any.

-----Original Message-----

From: Robert Lesniewski [mailto:rlesniew@nysutmail.org]

Sent: Friday, September 24, 2010 9:34 AM

To: Dunn, Mark

Subject: RE: Millennium / Arlene Busch referral

Very impressive numbers over an extended period, yet not a fit for our

DB Plan due to the aggressive nature. I did forward your materials to a

HNW individual for his consideration, perhaps he will call. I prefer to

leave that up to him so can not reveal his name.

Robert W. Lesniewski

Director of Finance & Administration

New York State United Teachers

800 Troy-Schenectady Road

Latham, NY 12110-2455

Phone: 518-213-6427

Fax: 518-213-6439

rlesniew@nysutmail.org

"Dunn, Mark" <Mark.Dunn@mlp.com> 9/22/2010 4:25 PM >>>

Thanks, Bert.  I've attached our latest presentation materials and

RiskMetrics reports which are produced on a monthly basis for our

investors.  I have also attached our latest Moody's operational

quality

review report.

As a quick update, our performance statistics through August include

AUM

of approximately $7.3bn with YTD returns of 5.19% for USA and 5.16%

for

International (preliminary).  The highest strategy allocations are

currently in Relative Value Fundamental L/S Equity (38% of AUM), Fixed

Income (23%) and Stat Arb (18%).  Millennium has annualized returns of

approximately 15.5% over 20 years, with a Sharpe ratio of

approximately

2.56.  We historically have had a .30 correlation to the S&P, a Beta

of

.09 with a standard deviation of approximately 4.58.

In addition to strong performance with low volatility, we have greatly

enhanced investor visibility and transparency.  Millennium uses

GlobeOp

as our third party administrator, we currently engage with RiskMetrics

to provide third party validation of positions and valuations as well

as

stress test the portfolios, we have completed Moody's Operational

Quality Ratings (top rated in all categories) and Amber Partners

operational quality benchmarks.  We have also completed a SAS 70

review

and have our financials audited twice a year by Ernst & Young.  We

have

also completed full due diligence reviews by many of the major

consultants.

As you review the materials and have any questions please let me know,

otherwise I will look to follow up with you in a few weeks.

Best Regards,

Mark

_________________________________________________

Mark Dunn

Director - Marketing and Investor Relations

Millennium Management LLC

666 Fifth Avenue, 8th fl | New York, NY 10103

Tel: 212-708-4383 | Fax: 212-320-1426 | Mobile: 917-359-2713

email: mark.dunn@mlp.com

millennium

__________________________________________________

-----Original Message-----

From: Robert Lesniewski [mailto:rlesniew@nysutmail.org]

Sent: Wednesday, September 22, 2010 3:28 PM

To: Dunn, Mark

Cc: Novogratz, John; abusch@rosemontseneca.com

Subject: Re: Millennium / Arlene Busch referral

Before we agree to any meeting, please send me some background

materials

on your firm, your strategy, returns achieved over a multi year period

and so forth. After I review, I will let you know if there is a fit

with

our plan.

Robert W. Lesniewski

Director of Finance & Administration

New York State United Teachers

800 Troy-Schenectady Road

Latham, NY 12110-2455

Phone: 518-213-6427

Fax: 518-213-6439

rlesniew@nysutmail.org

"Dunn, Mark" <Mark.Dunn@mlp.com> 9/22/2010 2:16 PM >>>

Hi Bert,

I hope you're doing well.  Arlene Busch suggested I reach out and

introduce myself as part of Millennium's Marketing and IR team.  You

may

already know a bit about Millennium from the July group dinner which

you

and our global head of marketing, John Novogratz, attended.  We are a

multi-strategy hedge fund with a long track record (20 years) of very

strong returns (avg 15.4% p.a.) with very low volatility (2.5 Sharpe,

4.5% std deviation).

Recently we have had a number of new allocations from large pension

funds, including a Taft-Hartley pension, and would like to discuss

your

interest in learning more about the fund.  Please let me know of some

times on your calendar for a call and I look forward to speaking with

you.

Best Regards,

Mark

__________________________________________________

Mark Dunn

Director - Marketing and Investor Relations

Millennium Management LLC

666 Fifth Avenue, 8th fl | New York, NY 10103

Tel: 212-708-4383 | Fax: 212-320-1426 | Mobile: 917-359-2713

email: mark.dunn@mlp.com

millennium

__________________________________________________

######################################################################

The information contained in this communication is confidential and

may contain information that is privileged or exempt from disclosure

under applicable law. If you are not a named addressee, please notify

the sender immediately and delete this email from your system.

If you have received this communication, and are not a named

recipient, you are hereby notified that any dissemination,

distribution or copying of this communication is strictly prohibited.

######################################################################

######################################################################

The information contained in this communication is confidential and

may contain information that is privileged or exempt from disclosure

under applicable law. If you are not a named addressee, please notify

the sender immediately and delete this email from your sys tem.

If you have received this communication, and are not a named

recipient, you are hereby notified that any dissemination,

distribution or copying of this communication is strictly prohibited.

######################################################################

######################################################################

The information contained in this communication is confidential and

may contain information that is privileged or exempt from disclosure

under applicable law. If you are not a named addressee, please notify

the sender immediately and delete this email from your system.

If you have received this communication, and are not a named

recipient, you are hereby notified that any dissemination,

distribution or copying of this communication is strictly prohibited.

######################################################################

######################################################################
The information contained in this communication is confidential and
may contain information that is privileged or exempt from disclosure
under applicable law. If you are not a named addressee, please notify
the sender immediately and delete this email from your system.
If you have received this communication, and are not a named
recipient, you are hereby notified that any dissemination,
distribution or copying of this communication is strictly prohibited.
######################################################################