Paul is responsible for management of the Fund’s assets and providing strategic investment advice to the investment committee and board. Previously he worked in the UK, where he held senior investment positions with large pension schemes. In his early career he worked in the Australian financial services industry. Paul graduated in Economics from Monash University and holds a Master of Applied Finance degree from the University of Melbourne. He is a CFA charterholder and member of the CFA Institute. Paul has participated at international conferences and published articles on a range of investment topics.

Ray King is Managing Director of Sovereign Investment Research, a company specialising in providing investment research and consulting to institutional investors and particularly superannuation funds in the areas of alternative investing and asset classes.

Ray has worked with many of the leading superannuation funds in Australia. In addition he has assisted investment managers in the areas of strategy, business and product development, process enhancement and resourcing.

Through the 1990s Ray was one of the more prominent asset consultants in Australia. He joined Towers Perrin in 1990 and was Manager Asset Consulting until 1994 when he resigned to start up Industry Fund Services. As Head of Wholesale Business he was responsible for the development of its asset consulting and funds management and advisory businesses. He left in July 2000 to establish Sovereign Investment Research.

His previous work experience also included being Chief Economist for a major public authority. Ray was the founding Chairperson of the Australian Chapter of the Investment Management Consultants Association (IMCA) in 2000. He has a Bachelor of Economics degree with honours from Monash University.

  Con Michalakis is the Head of Investments at Statewide, one of South Australia’s leading financial services groups and is responsible for managing, with the investment committee, the fund’s $2 billion in assets.

Prior to this, Con was Director of Marketing and Client Services for Pzena Investment Management in New York where he was responsible for marketing the firm’s products and services in Australia and Asia. He was previously the Director, Head of Institutional Business for Merrill Lynch Investment Managers based in Sydney. Con has also worked in London with Alliance Capital Management and was the first Australian practice leader of investment consulting for Watson Wyatt. Con is also an Advisory Board member at the International Centre for Financial Services at the University of Adelaide.

Greg Moessing is a Managing Director who has worked with Cambridge Associates since 1999. He is one of the most highly esteemed and longest tenured specialists in the firm’s hedge fund consulting practice. Currently, Greg advises a variety of defined benefit plans, family investment offices, nonprofits, and other institutional investors, some of which have the largest hedge fund programs overseen by our firm.

In addition to his client work, Greg has traveled the world to meet and evaluate managers of hedge funds and other marketable alternative assets. He also directs the research coverage of Asian and emerging markets hedge fund managers, and he has written several research papers, including Asian Hedge Funds. Greg is also a member of an internal committee that periodically reviews all client hedge fund programs, and he serves as a mentor and trainer to many of Cambridge Associates’ junior consulting staff members.

Greg has over 17 years of investment experience. Before joining Cambridge Associates in 1999, he was a portfolio manager of U.S. and non-U.S. index funds at Mellon Capital Management. He also worked as an equity trader and member of the investment committee at Insight Capital Research & Management.

Greg graduated from Brigham Young University and received an MBA from the Marriott School at Brigham Young University.


  Robert E. Murray is an Investment Committee Member, Principal and Chief Operating Officer of Graham Capital Management L.P., (“GCM”) a global macro hedge fund based in Rowayton, Connecticut. Mr. Murray is also a Senior Member of the Firm’s Management, Risk and Compliance Committees.

Mr. Murray joined GCM in July 2003 as Chief Operating Officer and is currently responsible for the management and oversight of the Firm’s business development, quantitative trading and operations, risk management and technology departments. Prior to joining GCM, from 1984 until June 2003, Mr. Murray held positions of increasing responsibility at various Morgan Stanley entities (and predecessors), including Managing Director of the Strategic Products Group, Chairman of Demeter Management Corporation (a commodity pool operator that grew to more than $2.5 billion in assets under management during Mr. Murray’s tenure) and Chairman of Morgan Stanley Futures & Currency Management Inc. (a commodity trading advisor). Mr. Murray is currently a member of the Board of Directors of the National Futures Association and serves on its Appeals and Finance Committees. Mr. Murray has served as Vice Chairman and a Director of the Board of the Managed Funds Association. Mr. Murray received a Bachelor’s Degree in Finance from SUNY Geneseo in 1983.

Robert Prugue is a senior executive of Lazard Asset Management Pacific Co. with responsibility for Lazard’s Asia-Pacific operations. He began working in the investment field in 1987. Prior to joining Lazard in December 2002, Robert was a Director and Head of Research with van Eyk Research, and he was also previously with the National Association of Securities Dealers, AMP Society, and New South Wales Superannuation Investment Management Corporation. He has an M.A. from Exeter University and a B.A. from the University of Maryland. Robert is a founding member of the Sydney Chapter of the CFA Institute as well as being a board member of the Investment Management Consultants Association (IMCA) in Australia.

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