Sessions Agenda

2026 Public Funds Forum

Sessions Agenda

Tuesday, September 8, 2026

6:00 pm – 6:15 pm:

Welcome and Opening Remarks

Speaker: Richard A. Bennett

Richard A. Bennett

President & Chief Executive Officer
ValueEdge Advisors LLC
Click here for complete biography

6:15 pm – 7:15 pm:

Session 1: Geopolitics and Global Security
From Ukraine and the Middle East to the U.S.-China rivalry, geopolitical risk is a structural input into the investment environment rather than an episodic shock. This panel surveys the security, sanctions, cyber, and supply-chain developments most likely to influence markets and reshape risk premia for institutional investors. We are joined by two of the nation’s top military leaders to discuss the geopolitical outlook and how its forces are transmitted into markets. The discussion will clarify the key fault lines facing long-horizon institutional investors, setting the context for subsequent sessions on portfolio and mandate responses.

Wednesday, September 9, 2026

8:00 am – 9:15 am:

Session 2: Alternative Futures for America
As the 2026 midterm elections approach, public funds are navigating a splintering U.S. political and policy environment. The two major U.S. parties are increasingly internally divided and divided from one another. Democratic Socialists have successfully challenged long-serving incumbents in the Democratic party in key races, and populist leaders are ousting long-serving leaders in the Republican party. At the state and federal level, our panel of former U.S. political leaders will examine this growing, four-way divide, what it means for political stability over the final years of President Trump’s second term, and how to prepare for changes in markets and the regulatory environment.

9:15 am – 10:15 am:

Session 3: Going Public: The Tech IPO Boom and What It Tells Us About the Future of the Financial Markets
2026 is the year of the IPO. After years of sparse activity, companies are rushing to tap public markets. This year, SpaceX’s offering was the largest in U.S. history, and Anthropic, OpenAI, and others may follow soon. But beneath the exuberance, risks are gathering. A sweeping rollback of shareholder protections has preceded this wave. Some companies, like SpaceX, feature “imperial” governance structures that concentrate near-unreviewable power in the CEO. New SEC rules have reduced transparency and accountability. And states like Nevada are luring companies with “liability-free zones” and weakened fiduciary duties. The challenge is that public funds are involuntarily exposed to these newly public companies as they are added to major indices. This panel will examine the roots of the IPO boom, use SpaceX as a case study in emerging market and governance trends, and explore the tools institutional investors have to mitigate risk and protect their beneficiaries.
10:15 am – 10:30 am:

Networking Break

10:30 am – 11:15 am:

Session 4: The Next Frontier: TPA and System-Level Investing
Institutional investors in 2026 are rethinking portfolio construction. Numerous leading investors are adopting TPA or system-level investing approaches, rather than more traditional approaches to strategic asset allocation. But are these approaches, like TPA, actually new, or just marketing? Do they represent a real effort to build portfolios to manage the complex interplay between investments, the real economy, and environmental, social, and financial systems? Leaders in public finance will discuss these issues and case studies of how institutional investors are wielding horizon-type approaches to advance their core goals.

11:15 am – 12:15 pm:

Session 5: AI for Investors

The impact of AI is the dominant theme across nearly every dimension of social, political, and economic life in the U.S. By some metrics, AI and AI-adjacent companies represent over 40% of the S&P 500. Every morning brings breathless AI headlines: predictions of massive job loss, the promise of extraordinary gains in productivity and insights, and serious questions about how the costs and benefits of AI are distributed. A global leader in AI development joins us to discuss who AI serves, who it should serve, and how public pensions can think strategically about AI as an investment and from an operational standpoint.

12:15 pm – 1:15 pm:

Lunch

1:15 pm – 2:00 pm:

Session 6: Leading On and Off the Court: Building a Legacy of Excellence
Success isn’t just about winning – it’s about building a culture of excellence that shapes lives beyond the game. From her days as a student-athlete at UC Santa Barbara to her role as head coach of UCLA Women’s Basketball, Cori Close, whose career has been shaped by legendary coach John Wooden, has spent over 30 years mentoring, coaching, and inspiring young athletes to reach their full potential. In this dynamic conversation, Close shares her transformational journey, the leadership lessons she learned along the way, and the power of sports to instill resilience, discipline, and purpose.
2:00 pm – 3:00 pm:
Session 7: Minding the Managers: Active Ownership Strategies Beyond Voting
As fiduciaries, asset owners must be vigilant stewards of their portfolio companies as well as the broader markets, particularly in times of volatility. Seasoned experts discuss how public funds can most effectively participate and communicate as owners in the capital markets and what’s at stake when they do. Our panel will go in-depth on how asset owners can effectively work with and through asset managers and when to engage directly with portfolio companies.

3:00 pm – 4:00 pm:

Session 8: Upsides and Downsides in Alternative Investments
To generate returns and ensure diversification, public funds have increasingly allocated capital to private equity, real assets, and other alternative strategies. Indeed, in recent years, private equity has been a source of excess returns for some leading public funds. But some leading public funds have recently expressed concern about lagging returns, opacity, and high expenses. This panel dives into this debate, sharing perspectives on the benefits and unique challenges these allocations bring, including illiquidity, fee structures, and manager selection. They share how their investment teams build and manage alternative investment allocations and what they’re watching for in coming months and years.

Thursday, September 10, 2026

8:00 am – 9:00 am:

Session 9: Between the Hedges: Leading a Public Agency in a Volatile Time
Leading important public agencies – a public pension fund or a government agency – is a complex task in 2026. Trust in government is waning, misinformation appears and moves at light speed, and the political environment is exceptionally polarized and intense. How do leaders help their organizations deliver stability and navigate change, uncertainty, and scrutiny in this era? A panel of public agency and elected leaders explores how fiduciary leaders can navigate complexity, organizational change, and mission-focus in discharging their long-term responsibilities to beneficiaries.

9:00 am – 9:45 am:

Session 10: Three Wishes from Your GC: The Legal Issues Every Board Needs to Know in 2026
The role of General Counsel used to be a job for a lawyer’s lawyer. Today, the GC is a lawyer’s lawyer and then some – she’s equally a senior fund executive holding a broad range of operational and legal responsibilities. A panel of experienced GCs and senior in-house legal counsel will explore the key legal and business developments and risks that should be top of mind for fund leaders. From emerging legislation and regulatory action impacting public funds to AI- and cyber-risk, the panelists will go deep into what their experience teaches will be among the most important issues facing public funds today.

9:45 am – 10:00 am:

Networking Break

10:00 am – 11:00 am:

Session 11: Trends and Tips in Governance

Experienced pension leaders – including trustees and senior fund executives – share insights on fund management and oversight, including board-staff relations, benefits administration, and effectively serving and communicating with members.

11:00 am – 12:00 pm:

Session 12: Finding the Funny: Lessons in Life, Leadership, and Resilience with Kevin Nealon
Acclaimed comedian, actor, writer, and host Kevin Nealon explores life, leadership, wellness, and finding humor in challenging times. Drawing on decades of experience in entertainment, business, and advocacy, Nealon shares memorable stories, practical lessons, and fresh perspectives that inspire, engage, and delight.

12:00 pm – 12:10 pm:

Closing Remarks

12:30 pm – 5:30 pm:

Networking Activities: Extreme Chef Cook-Off, Whale Watching, Hiking, Electric Bikes

2026 PUBLIC FUNDS FORUM

Montage
Laguna Beach, California
September 8-10, 2026

Register
Public Funds Forum

Richard A. Bennett | President & Chief Executive Officer, ValueEdge Advisors LLC

Richard A. Bennett is President and CEO of ValueEdge Advisors, a firm he founded in summer 2014 to help institutional investors engage with their portfolio companies. From 2006 he was CEO and then Chairman of GMI Ratings and its predecessor, The Corporate Library, a globally recognized investment research firm specializing in corporate governance and ESG with offices in London, New York, San Diego, and Portland, Maine. In August 2014, GMI Ratings was sold to MSCI.

He worked as Director of Corporate Governance for LENS, an institutional activist fund, from 1997 to 2002. He served from 2004 to 2016 as a non-executive director of Trucost, Plc, a U.K.- based firm offering products and services that allow companies, governments, and fund managers to better understand their environmental performance. From 2009 to 2014, he served on the Board of Governors of the International Corporate Governance Network (ICGN), and currently serves on the ICGN Nominating Committee. He is an independent director of Biddeford Internet Corporation d/b/a GWI (an ISP and telecom business), Atlantic Trust (Maine) (a fiduciary trust company), and Quoddy Inc. (a footwear brand enterprise).

Mr. Bennett has an extensive background in politics and government service as well as a wide range of private sector experience. A former president of the Maine State Senate, Mr. Bennett served four terms in the Maine Senate and two terms in the state's House of Representatives. From 2013 to 2017, he was Chairman of the Maine Republican Party and a member of the Republican National Committee. In 2014, he volunteered as a member of the MainePERS ESG Integration Task Force.

Directorship magazine has recognized Mr. Bennett six times in its annual list of the 100 "most influential people in corporate governance and the boardroom." In December 2010, he was named by Global Proxy Watch as one of the "10 people around the world who had the most impact on corporate governance in the previous year."

Mr. Bennett was a member of the board of trustees of Hebron Academy from 2010 to 2019. He was a member of the President's Commission on White House Fellowships from 2005 to 2009. He graduated with honors from Harvard College in 1986 and received his M.B.A. from the University of Southern Maine in 2000.