FOR IMMEDIATE RELEASE: May 15, 2006

Visiting Scholar Adam Lerrick

AEI visiting scholar Adam Lerrick--a professor of economics at Carnegie Mellon University and an innovator in the capital markets--is scheduled to testify about hedge funds before the Securities and Investment Subcommittee of the Senate Banking, Housing, and Urban Affairs Committee on Tuesday, May 16. The focus of his testimony will be on the role of hedge funds in the global capital markets.

In recent years, the hedge fund client base has expanded from a limited number of very rich individuals to include large institutional and small retail investors. When hedge funds were limited to small groups of investors, they weren't given much attention, but as the size of the funds has grown and many of them have produced extraordinary returns, their visibility has increased as has scrutiny by the press, the SEC and Congress.

To increase the level of understanding of the role of hedge funds in global capital markets, Mr. Lerrick convened in 2005 two conferences at AEI entitled Demystifying Hedge Funds. The collection of papers presented at these conferences is available on the AEI website, at www.aei.org/aps.

AEI scholar Adam Lerrick is available for interviews and can be contacted at lerrco@msn.com or (434) 286-2372. For additional media inquiries, please contact Andrew Pappas at apappas@aei.org or (202) 862-4870.

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