Dear Distinguished EPIC Attendee:

Thank you for joining us for EPIC Returns 2016! We were thrilled to have welcomed you to beautiful Half Moon Bay—to have joined us on an EPIC journey. And what a journey it was… a chance to redefine our investment industry’s concept of “conference.” To pave a new path, sickle in hand, slashing to and fro through the thicket toward the glint we could see on the horizon. A new way forward.

Conceived 20 years ago, EPIC Returns was a quintessential team effort with each of you having played an integral part. We remain humbled and honored by the dedication of your time, contribution and participation to having made those three days in late April 2016 truly magical.

The global investment industry has changed so much since first writing this letter two years ago, when kicking off the project that became EPIC Returns. There have been shifts in regulation, governance, policy, Fed rates, investment guidelines, the politician landscape and investment definitions. What does it really mean to be a hedge fund today? What must an acting fiduciary's responsibilities now entail? And how can one truly find El Dorado: risk-adjusted, non-correlated yield when the alternative investment landscape is a constantly-shifting tectonic plate?

Our goal over the course of EPIC Returns was to wrestle those ideas to the ground… and engage in dynamic, spirited discussions in a safe, closed-door group conversation. It was your unique perspective we asked for—your honesty and the trust that such a perspective helped inspire those around you. In the noble words of Eleanor Roosevelt, “Do what you feel in your heart to be right, for you will be criticized anyway.”

We want to thank the speakers, the sponsors, the vendors and special guests as well as our fantastic teams at Minard Capital and Pensions & Investments. Our goal was to construct an environment that would be worthy of your valuable time—you, the true masters of your craft. We hope the craftsmanship you experienced evidenced throughout this event inspires you toward EPIC conversations throughout this year, igniting new friendships and rekindling new ones.

Thank you again!

With humble gratitude,