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08:45 09:10 (25 mins)

Fundraising summit

Registration

09:10 09:15 (5 mins)

Fundraising summit

Chairperson's introduction

09:15 09:35 (20 mins)

Fundraising summit

Sources of capital in 2017/2018

Who has been allocating, how much, and where? What do we expect for fundraising in 2018?

  • Kelly DePonte - Managing Director, Probitas Partners

09:35 10:00 (25 mins)

Fundraising summit

2017 fundraising roundup

A granular look-through at allocations, funds raised and dry powder

  • Chris Elvin - Head of Private Equity Products, Prequin

10:00 10:30 (30 mins)

Fundraising summit

Customised partnerships and alternative structures

Forging new deals and flexible terms: how are GPs innovating to address LPs’ needs? What are the benefits for LPs of bespoke funds, deal by deal with fundless sponsors or via club structures? What does this mean for the future of the blind pool 2/20 model? 

  • Moderator Chris Elvin - Head of Private Equity Products, Prequin
  • Panellists Richard Clarke-Jervoise - Partner, Stonehage Fleming Investment Management Limited
  • Thomas McComb - Portfolio Manager, JP Morgan
  • Warren Hibbert - Managing Partner, Asante Capital Group

10:30 11:00 (30 mins)

Fundraising summit

Morning coffee

11:00 11:30 (30 mins)

Fundraising summit

Surviving the reverse catwalk: how to access top tier funds

Positioning yourself as an LP of choice to maximise allocation to oversubscribed funds: is there anything you can do to improve your chances?

  • Moderator Jobst Klemme - Director, Abbott Capital Management
  • Panellists Yolande van den Dungen - Senior Portfolio Manager, Alternatives, SPF Beheer
  • Brian Frieser - Senior Portfolio Manager Private Equity & Infrastructure, MN
  • Spencer Miller - Director, SJF Partners

11:30 12:00 (30 mins)

Fundraising summit

LP terms, fees & alignment of interest

How much movement are we seeing on preferred return, hurdle rates, carry, access to co-investment opportunities and transaction fees? What does this mean for GPs’ return expectations? To what extent has transparency improved?  

  • Panellists Sam Kay - Partner, Head of Investment Funds, Travers Smith
  • Jean-Francois Le Ruyet - Partner, Quilvest Private Equity
  • Kim Schneider - Member of the Investment Committee, NORD Holding
  • Peter Keehn - Global Head of Private Equity, AllState Investments

12:00 12:30 (30 mins)

Fundraising summit

When is the last time you invested with a manager?

When is the right time for an LP to say no to an existing manager? Do all LPs re-up once too often and how do you know when to get off the bus?

  • Moderator Marc der Kinderen - Managing Partner, 747 Capital
  • Panellists Horst Güdel - Managing Director, RWB PrivateCapital Emissionshaus
  • Nicolas von der Schulenburg - Managing Director, Portfolio Advisors
  • Daniel Boege - Partner, Head of Buyout, Golding Capital Partners
  • Arnaud Lipkowicz - Managing Director & Partner, GCM Grosvenor

12:30 13:50 (80 mins)

Fundraising summit

Lunch

13:50 14:10 (20 mins)

Fundraising summit

Spin-outs & emerging managers: stellar first time fund and spin-out showcase

A selection of new funds will showcase their strategy & differentiators to demonstrate what it takes to get a fund successfully off the ground

  • Host Alex Barker - Principal, HarbourVest Partners
  • Christian Hamilton - Managing Partner, Tenzing
  • Alex Fortescue - Managing Partner, Epiris
  • Sumeet M. Gulati - Partner, GENUI Partners

14:10 14:30 (20 mins)

Fundraising summit

Spin-outs & emerging managers: Experiences on the road and lessons learned

  • Moderator Alex Barker - Principal, HarbourVest Partners
  • Christian Hamilton - Managing Partner, Tenzing
  • Alex Fortescue - Managing Partner, Epiris
  • Sumeet M. Gulati - Partner, GENUI Partners

14:30 15:00 (30 mins)

Fundraising summit

Spin-outs & emerging managers: LP response

What does it take to invest in a first-time manager? How can you tell that a new team is built to last, & what are the indicators that would warn you otherwise?

  • Moderator Alex Barker - Principal, HarbourVest Partners
  • Panellists Kaarina Suikkonen - Partner, Lyrique Private Equity
  • Jesper Knutsson - Principal, Danske Private Equity
  • Joe Topley - Senior Principal, Ontario Teachers' Pension Plan
  • Jonas Nyquist - Head of Buyout Fund Investments, Skandia Life

15:00 15:30 (30 mins)

Fundraising summit

Brexit, AIFMD and the evolving regulatory environment: what could possibly go wrong?

How are evolving regulations impacting how funds are structured and domiciled? Examining new interpretation, guidance and industry practice: where are the pitfalls and elephant traps?

  • Moderator Jonathan de Lance-Holmes - Partner, Investment Management Group, Linklaters, LLP
  • Panellists Simon Hirtzel - General Partner and COO, Kreos Capital

15:30 16:00 (30 mins)

Fundraising summit

Afternoon coffee

16:00 16:30 (30 mins)

Fundraising summit

Fundraising superstars tell us how it’s done OR how not to fundraise

  • Moderator Louis Trincano - Managing Partner, Cornerstone Fund Placement
  • Panellists Johanna Barr - Managing Director and Global Co-Head of Limited Partner Services , Advent International
  • Yalin Karadogan - Partner, Cinven
  • Mark Weston - Head of Investor Relations, Triton Partners
  • Neil Brown - Partner, Head of Investor Development Group, Actis

16:30 17:30 (60 mins)

Fundraising summit

Closed door boardroom session

No pre-registration required. First come first served. Spaces are limited!

Run strictly under the Chatham House rule, what is said in this closed-door discussion cannot be attributed to any individual, encouraging participants to speak more openly on the topics that really matter.  

  • What are the true return expectations of 2017/2018 vintage funds? Really?
  • What is negotiable on terms and fees?
  • Standardisation of the LPA: What progress has been made & why is this so difficult to achieve?
  • Alignment of interest: What rings warning bells for LPs?
  • Hosts Alex Barker - Principal, HarbourVest Partners
  • Jean-Francois Le Ruyet - Partner, Quilvest Private Equity
  • Thomas McComb - Portfolio Manager, JP Morgan
  • Yalin Karadogan - Partner, Cinven
  • Johanna Barr - Managing Director and Global Co-Head of Limited Partner Services , Advent International

17:30 17:30 (0 mins)

Fundraising summit

Close of fundraising summit and networking drinks reception

08:45 09:00 (15 mins)

Private debt summit

Registration

09:00 09:05 (5 mins)

Private debt summit

Chairperson's introduction

  • Chair Anthony Fobel - Managing Partner – Private Debt Group, Bluebay Asset Management

09:05 09:40 (35 mins)

Private debt summit

The global economy: big picture uncertainty

Where are we in the credit cycle and what are current trends in default rates? What can we predict about the actions of central banks and impact of tax and other reforms in the U.S.? How do banks view this uncertainty and how is it impacting their lending?

  • Glenn R August - Founder & CEO , Oak Hill Advisors

09:40 10:10 (30 mins)

Private debt summit

State of the union

What does the market look like today and how will managers continue to deliver returns in an environment of increased competition and buckets of dry powder? Who has proved themselves through the cycle?

  • Moderator Gregg Disdale - Head of Alternative Credit, Willis Towers Watson
  • Panellists Blair Jacobson - Partner, Ares Management
  • Symon Drake-Brockman - Managing Partner, Pemberton Capital Advisors
  • Paul Johnson - Partner, EQT Partners

10:10 10:30 (20 mins)

Private debt summit

Key challenges and opportunities in private debt

Will allocations to private debt become as large as allocations to private equity? What does the future hold and will funds deliver the expected returns?

  • Anthony Fobel - Managing Partner – Private Debt Group, Bluebay Asset Management

10:30 11:00 (30 mins)

Private debt summit

Europe vs. U.S.

How will political and regulatory dichotomy between Europe and the U.S. Impact opportunities in the respective private debt markets?

  • Panellists Tom Newberry - Partner, Head of Private Credit Funds and Senior Portfolio Manager, CVC Credit Partners
  • Bill Sacher - Partner & Head of Private Credit Investments, Adams Street Partners

11:00 11:20 (20 mins)

Private debt summit

Morning coffee

11:20 11:50 (30 mins)

Private debt summit

Strategy review: the opportunity set

How do the various products and strategies in private the private debt markets compare? Which offer the most attractive risk adjusted returns in the current market? How are managers differentiating themselves, what are return expectations and what do they have to do to generate these returns?

  • Moderator Dalit Nuttall - Partner, Arbour Partners
  • Panellists Oliver Fochler - CEO, Stone Mountain Capital
  • John Sinik - Managing Partner, Metric Capital Partners
  • Raj Makam - Managing Director and Co-Portfolio Manager, Oaktree Capital Management
  • Matthias Ederer - Partner, BC Partners Credit

11:50 12:10 (20 mins)

Private debt summit

Benchmarking and performance data

How do private debt funds, deals and tranches compare to other alternative and public market strategies? How do the different segments of the market compare by IRR, loss statistics, default rates & leverage levels?

  • Daniel Schmidt - CEO, CEPRES – The Investment Decision Platform

12:10 12:40 (30 mins)

Private debt summit

Private debt allocations: the LP view

How do LPs maximise the effectiveness of their allocations to private debt? What are their return expectations and how do they distinguish between the various strategies and managers? And how can managers fulfil their search for yield, liquidity and downside protection?

  • Moderator Tod Trabocco - Managing Director, Credit Investment Group, Cambridge Associates
  • Panellists Patrick Stutz - CIO, Bayshore Capital Advisers
  • Timo Hara - Partner, Certior Capital
  • Borge Grauel - Managing Director, Private Debt, Golding Capital Partners

12:40 13:10 (30 mins)

Private debt summit

Distressed debt & special situations

How are managers positioning themselves to generate attractive returns and who is best placed to outperform as the cycle turns? Which strategies provide the most effective downside protection and how do strategies and deal size impact liquidity?

  • Moderator Ingrid Neitsch - Head of Strategic Credit, SL Capital Partners
  • Matthew Glowasky - Managing Principal, Monarch Alternative Capital
  • Daniel Pound - Managing Director, Head of Europe, Angelo, Gordon Europe
  • Andrés Rubio - Senior Partner, Apollo Global Management

13:10 14:10 (60 mins)

Private debt summit

Lunch

14:10 14:10 (0 mins)

Private debt summit

Afternoon chairman

  • Fred Nada - Partner Private Debt Group, BlueBay Asset Management

14:50 15:20 (30 mins)

Private debt summit

Opportunities and risks in sponsorless lending

Can funds continue to successfully source sponsorless transactions? What are the characteristics of today’s deal flow and how do LPs view sponsored vs sponsorless lending?

  • Moderator Matthias Unser - Managing Partner, YIELCO Investments
  • Panellists Paul Shea - Managing Partner, Beechbrook Capital
  • Mauro Moretti - Founder and Managing Partner, Three Hills Capital Partners

15:20 15:50 (30 mins)

Private debt summit

Deal flow and competition

Where are managers sourcing new deals and what do they have to do to close them? Is increased competition within the private debt sector sustainable?

  • Panellists Douglas Goodwille - Managing Partner, Kayne Anderson
  • Loic Fery - CEO, Chenavar
  • Mark Brenke - Managing Director, Co-Head of Private Debt, Ardian

15:50 16:10 (20 mins)

Private debt summit

Afternoon coffee

16:10 16:40 (30 mins)

Private debt summit

Co-investments to increase deal size

What is the appetite for and potential risk of new structures and transactions?  What are LPs looking for, and what do they need to have in place in order to close deals successfully?

  • Moderator Karim Flitti - Partner, Credit Captial Partners
  • Panellists Jakob Lindquist - Co-Managing Partner, CORDET Capital LLP
  • Timo Hara - Partner, Certior Capital

16:40 17:10 (30 mins)

Private debt summit

Stress testing: what happens in a downturn?

How do banks model the recovery rate of their portfolios in various scenarios? How much is recoverable with and without covenants? How do banks make decisions on pricing risk and how do they view cyclicality, volatility and liquidity? How do you predict the deals which will get into trouble?

17:10 17:40 (30 mins)

Private debt summit

Faster, wider, deeper: How can disruptive technology enable credit investors to do more of what they are already doing?

How can technology platforms meet the portfolio objectives of institutional investors and how do they compare to products offering similar yields? What objections need to be overcome for an institutional investor to invest through these platforms?

  • Interviewer James Newsome - Managing Partner, Arbour Partners

17:40 17:40 (0 mins)

Private debt summit

Close of private debt summit and networking drinks reception

09:00 09:20 (20 mins)

Secondaries summit

Registration

09:00 09:10 (10 mins)

Secondaries summit

Chairperson's introduction

09:30 10:00 (30 mins)

Secondaries summit

Data presentation: the latest on pricing, fundraising and deal volumes

What is new and what can we expect in 2018?

  • Brenlen Jinkens - Managing Director, Greenhill

10:00 10:20 (20 mins)

Secondaries summit

Pricing and Volume

Is the growth of the market sustainable and how are managers justifying the prices paid?

  • Panellists Oliver Gardey - Partner, Pomona Capital
  • Warren Symon - Managing Director, Newbury Partners
  • Mathieu Dréan - Managing Partner, Triago

10:20 11:00 (40 mins)

Secondaries summit

Generating returns: active sourcing, lateral thinking and creativity

With so much raised and not much development on the offer side, how will secondaries managers generate appropriate returns? Where will the quality deals come from? How are funds using leverage to enhance returns?

  • Moderator Nash Waterman - Executive Director, Morgan Stanley Investment Management
  • Panellists Patrick Knechtli - Head of Secondaries, SL Capital
  • Laura Shen Lefranc - Partner, Headway Capital Partners
  • Matt Jones - Partner, Global Secondaries Investment Team, Pantheon
  • Marco Wulff - Partner & Co-Founder, Montana Capital Partners

11:00 11:30 (30 mins)

Secondaries summit

Morning coffee

11:30 12:10 (40 mins)

Secondaries summit

GP restructuring and liquidity solutions

Has the GP-led market lived up to the hype? What are current deal structures and trends?

  • Moderator Thomas Liaudet - Partner, Campbell Lutyens
  • Panellists Andre Aubert - Partner and Co-Head, PE Secondaries, LGT Capital Partners
  • Greg Holden - Partner, Adams Street Partners
  • Valérie Handal - Principal, HarbourVest

12:10 12:40 (30 mins)

Secondaries summit

Real assets secondaries

Are infrastructure, real estate and energy secondaries where the best deals will be found? What skill set is needed to assess these deals, and what of more esoteric assets such as mining and timber? 

  • Moderator Thomas Liaudet - Partner, Campbell Lutyens
  • William Greene - Partner, Stafford Infrastructure and Sustainable Capital, Stafford Capital Partners
  • Antonio Guinea - Managing Director of Altamar Infrastructure, Altamar Capital Partner
  • Joshua Blaine - Senior Managing Director, Strategic Partners Fund Solutions
  • Struan Fairbairn - Chief Risk Officer, Lothian Pension Funds

12:50 14:10 (80 mins)

Secondaries summit

Lunch

14:10 14:50 (40 mins)

Secondaries summit

Beyond vintage diversification: using secondaries as an active strategic instrument

How are LPs are using the secondaries market and what does this mean for future deal flow? M

  • Moderator Carlo Pirzio-Biroli - Managing Partner & CEO, Glendower Capital
  • Panellists Cari Lodge - Managing Director, Head of Secondaries, Commonfund
  • Nik Morandi - Senior Principal, Funds, Secondaries & Co-Investments, CPPIB
  • Eric Marchard - Senior Vice President, Unigestion
  • Joaquín Alexandre Ruiz Tarré - Head - EIF Discretionary Portfolio, European Investment Fund

15:20 15:50 (30 mins)

Secondaries summit

Coffee

15:50 16:20 (30 mins)

Secondaries summit

Alternative liquidity solutions

What are the alternatives to a straight sale available to LPs? What structures have been used and what lessons have been learnt? 

  • Moderator Pablo Caló - Partner, Park Hill Group
  • Panellists Yann Robard - Managing Partner, Whitehorse Liquidity Partners
  • David Wachter - Managing Director, W Capital Partners

16:20 16:45 (25 mins)

Secondaries summit

Case study of a non-traditional secondary deal

16:45 16:45 (0 mins)

Secondaries summit

Close of secondaries summit and networking drinks reception

13:00 13:45 (45 mins)

LP only session

LP only working lunch

  • Hosts Joe Topley - Senior Principal, Ontario Teachers' Pension Plan
  • Brian Frieser - Senior Portfolio Manager Private Equity & Infrastructure, MN