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COMMITTEE ON BANKING, HOUSING, AND ... - …

500 FIFTH AVENUE, 47TH FLOOR. NEW YORK, NY 10110. TEL: 212-857-4400 FAX: 212-768-8190. COMMITTEE ON. banking , housing , AND urban affairs . UNITED STATES SENATE. SENATOR RICHARD SHELBY, CHAIRMAN. FULL COMMITTEE HEARING ON THE. REGULATION OF THE hedge fund INDUSTRY . JULY 15, 2004. WRITTEN TESTIMONY OF. CHARLES J. GRADANTE. MANAGING PRINCIPAL, THE HENNESSEE GROUP LLC. This version includes verbal statements made at the Senate Hearing Page 2 of 34. OPENING STATEMENT. Good afternoon Chairman Shelby, Ranking Member Sarbanes, and members of The COMMITTEE . My name is Charles Gradante and I am a managing principal of the Hennessee Group, a firm that provides investment advice and ongoing monitoring services to investors in hedge funds including endowments, foundations, and pensions. Our founder Elizabeth Lee Hennessee has been advising investors since 1987 and we have been providing research on the industry since 1995.

hennessee group llc - submission to the us senate committee on banking, housing, and urban affairs page 6 of 34 iii. hedge fund registration – commentary and opinion

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