IIR & IBC Finance is part of the Knowledge and Networking Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Informa
08:30 - 08:50

Registration and Welcome coffee

More
Showing of Streams
10:30 - 11:00

Morning Coffee

More
Showing of Streams
Showing of Streams
17:45 - 19:15
Info

2018 Gala cruise drinks reception

Boarding will begin from 17.30 and the boats will depart from the Hotel Okura Jetty at 17.45 sharply.

The boats will return to the Hotel Okura Jerry at 19.15.

More
08:30 - 08:50 20 mins
Registration and Welcome coffee
08:50 - 09:00 10 mins
Info
Private Debt Summit
Chairperson’s introduction and opening interactive audience polling.
  • Chair Anthony Fobel - Managing Partner, Head of Private Debt, BlueBay Asset Management

Audience interaction will be encougared through the day with real-time interactive Q&A, led by the chairman.

08:50 - 09:00 10 mins
Secondaries
Chairperson's Introduction
08:50 - 09:00 10 mins
Fundraising Summit
Chairperson's Introduction
  • Chair Tom Alabaster - Partner, Investment Funds, Linklaters
  • Matthew Keogh - Partner, Global Head of Investment Funds, Linklaters
09:00 - 09:30 30 mins
Info
Private Debt Summit
Macroeconomic address: private debt – where are we in the cycle?
  • Lofti Karoui - Chief Credit Strategist, Goldman Sachs

What market events could have the most damaging effect on the private debt market and when company defaults start to rise, who will be most exposed? Where is the asset liability mismatch most concerning and what should investors be wary of moving from 2018 into 2019?

09:00 - 09:20 20 mins
Info
Secondaries
Secondaries 2018 roundup
  • Brenlen Jinkens - Managing Director, Greenhill

An analysis of secondaries funds, deal flow, pricing and transactions: what conclusions can be drawn?

09:00 - 09:30 30 mins
Info
Fundraising Summit
Data presentation: 2018 fundraising roundup
  • Mark O'Hare - Founder, Preqin

The Barbell effect: who is getting funded and who isn’t? Exploring the phenomena of increased fund size, fund product proliferation and one-and-done fundraises. Should we be concerned?

09:20 - 10:00 40 mins
Info
Secondaries
The commoditisation of secondaries: deal sourcing & pricing
  • Panellists Brenlen Jinkens - Managing Director, Greenhill
  • Laura Shen Lefranc - Partner, Headway Capital Partners
  • Verdun S. Perry - Senior Managing Director & Co-Head, Strategic Partners Fund Solutions

In an increasingly competitive market with high pricing and compressed returns, how much are managers having to lean in to outperform? What can give a GP the edge? Where are deals being sourced and is recent market volatility a help or hindrance? How well can the market absorb the huge amounts of capital raised?

09:30 - 10:00 30 mins
Info
Private Debt Summit
Another record year in private debt: so now what?
  • Moderator Anthony Fobel - Managing Partner, Head of Private Debt, BlueBay Asset Management
  • Panellists Andrew Konopelski - Partner and Head of Credit Strategies, EQT Credit
  • Blair Jacobson - Partner, Co-Head of European Credit, Ares Management LLC
  • David Hirschmann - Partner and Head of Private Credit, Permira Debt Managers
  • Eric Lloyd - Head of Global Private Finance, Barings

In an increasingly frothy and competitive credit market, where and how are leading credit managers investing to ensure current and future returns are protected? Are LPs right to be concerned about the amount of covenant-lite debt being issued? Is too much risk being taken to generate returns?

09:30 - 10:00 30 mins
Info
Fundraising Summit
A rising tide float all boats: what could this mean for future returns?
  • Richard Clarke-Jervoise - Partner, Stonehage Fleming Investment Management Limited
  • Christian Kvorning - Senior Partner, Danske Private Equity
  • Michael Lindauer - Managing Director, Global Co-Head of Private Equity, Allianz Capital Partners GmbH
  • Heiko Bensch - Senior Portfolio Manager, Alternative Investments, Talanx Asset Management

Quicker fundraises, fund size inflation and revised terms: how will these GPs cope when the music stops and what could this mean for future returns? What strategies are savvy LPs using to navigate such an efficient fundraising environment?

10:00 - 10:30 30 mins
Info
Private Debt Summit
Head to head debate: who is best placed to survive the downturn?
  • Moderator Hans-Jörg Baumann - Partner, Stepstone Global
  • Mezzanine Louis Lavoie - Managing Director, Crescent Capital
  • Senior Debt Symon Drake-Brockman - Managing Partner, Pemberton Capital Advisors
  • Special situations and distressed debt Alex Schmid - Founding Partner & CEO, Eso Capital
  • Unitranche Mark Brenke - Co-Head & Managing Director, Ardian
  • big vs small Sean Greene - Head of Small Business Credit, Siguler Guff & Company

Top performers of selected credit strategies will take to the stage to share the merits and risks of their strategy. Followed by Q&A. Strategies to be represented include:

Mezzanine | unitranche | real estate debt | senior debt | distressed debt | big vs small

10:00 - 10:30 30 mins
Info
Secondaries
GP led deals in the mainstream
  • Moderator Thomas Liaudet - Partner, Campbell Lutyens
  • Panellists David Atterbury - Managing Director, HarbourVest Partners
  • Gabriel Mollerberg - Managing Director, Goldman Sachs
  • Andrew Hawkins - Senior Managing Director, Intermediate Capital Group

What is driving the surge in these transactions? Are they just a moment in time due to many funds having enormous NAV in light of their vintage? Which scenarios cause most conflicts of interest and how can alignment amongst all motivations best be gained? Why do some deals fail?

10:00 - 10:30 30 mins
Info
Fundraising Summit
Strategy drift and product proliferation: can you be a master of all trades?
  • Moderator Susanne von Gültlingen - Managing Director,Head of Private Equity Asset Management, Siemens Private Equity Asset Management
  • Panellists Nicolas von der Schulenburg - Managing Director, Portfolio Advisors
  • Marc Roijakkers - Senior Fund Manager, Alternatives, Blue Sky Group
  • Daniel Boege - Partner, Head of Buyout, Golding Capital Partners

Which GPs have diversified their product offering successfully and how? How do LPs view this evolution and what is the appetite for such funds? What are the warning signs that a GP has gone one step too far?

10:30 - 11:00 30 mins
Morning Coffee
11:00 - 11:30 30 mins
Info
Private Debt Summit
Looking across the Direct Lending spectrum
  • Daniel Sachs - CEO, Proventus Capital Management
  • Kirsten Bode - Co-Head of Pan- European Private Debt, Muzinich & Co
  • Luis Mayans - Head of Private Debt-Europe, CDPQ
  • Gurjit Bedi - Partner, Marlborough Partners

What does the term ‘direct lending’ encompass today and what returns do different types of firms target? Big versus small, generalist versus sector specific, geographic concentration versus pan EU? Beyond SME lending, where are the banks retracting and where is the most interesting deal flow?

11:00 - 11:30 30 mins
Info
Secondaries
Underwriting secondaries funds: a new reality
  • Moderator Neal Costello - Managing Director, AlpInvest Partners
  • Panellists Cari Lodge - Managing Director, Head of Secondaries, Commonfund
  • Daniel Benin - Managing Partner, Commited Advisors
  • Joaquín Alexandre Ruiz Tarré - Head - EIF Discretionary Portfolio, European Investment Fund
  • Carlo Pirzio-Biroli - Managing Partner & CEO, Glendower Capital

As delta on returns of secondaries looks set to drastically change, what methods are being used to underwrite secondaries funds today? What are the pros and cons of the various strategies such as tail end vs single asset purchases, and how are returns being manufactured? Exploring the use of leverage, recycling capital calls and overweight net returns.

11:00 - 11:30 30 mins
Info
Fundraising Summit
LP allocations: re-upping, knowing when to step away and committing to new GPs
  • Moderator Louis Trincano - Managing Partner, Cornerstone Fund Placement
  • Panellists Brian Frieser - Senior Portfolio Manager Private Equity & Infrastructure, MN
  • Spencer Miller - Director, SJF Partners
  • Yolande van den Dungen - Senior Portfolio Manager, Alternatives, SPF Beheer
  • Mark Nicolson - Senior Investment Director, Aberdeen Standard Investments

When is it time to say ‘out with the old and in with the new’ and how can a new GP make the shortlist? How have LPs successfully secured allocations to access-contained funds and when is a good deal not a good deal? Are funds struggling to raise an opportunity or to be avoided?

11:30 - 12:00 30 mins
Info
Private Debt Summit
Will private debt ever be as big as private equity?
  • Mark O'Hare - Founder, Preqin

Mapping out the private debt fund landscape: who has raised well and who hasn’t? How well have new entrants to the market fared? Which private debt classes are the best and worst performers?

11:30 - 12:00 30 mins
Info
Secondaries
Active fund management: why you can’t just sit back
  • Moderator Yann Robard - Managing Partner, Whitehorse Liquidity Partners
  • Panellists Patrick Knechtli - Head of Secondaries, Aberdeen Standard Investments
  • Sasha van de Water - Managing Partner, Keyhaven Capital

Why is an active approach important? When does selling or recapping a portfolio make sense and what are the other methods being used to generate liquidity post-closing a transaction? Is it best to accelerate liquidity on a fund as whole or on individual transactions within a fund?

12:00 - 12:30 30 mins
Info
Private Debt Summit
Mezzanine: time to move off the back burner?
  • Moderator Gurjit Bedi - Partner, Marlborough Partners
  • Panellists Alfonso Erhardt - Partner, Oquendo Capital
  • Paul Shea - Managing Partner, Beechbrook Capital
  • Christopher Bone - Managing Director, Head European Private Debt, Partners Group

At what point will mezzanine renter the frame as a more significant part of capital structure? What are the most interesting mezzanine products available and where is the optimal place to be in the capital stack when the market changes?

12:00 - 12:30 30 mins
Info
Secondaries
Secondaries risk: how has it changed?
  • Moderator Ian Charles - Partner, Landmark Partners
  • Panellists Nik Morandi - Senior Principal, Funds, Secondaries & Co-Investments, CPPIB
  • Andre Aubert - Partner and Co-Head, PE Secondaries, LGT Capital Partners
  • Matt Jones - Partner, Pantheon

As mainstream secondaries transactions evolve from large portfolio acquisitions to large levered portfolio acquisitions and concentrated GP deals, how should investors now measure the relative risk of investing in this asset class?

12:00 - 12:30 30 mins
Info
Fundraising Summit
Managing LP/GP relationships in access-constrained funds
  • Moderator Alexandra Durnford - Director & Founder, Byron+Wilf
  • Panellists Richard Howell - Partner, PAI Partners
  • Thomas McComb - Portfolio Manager, JP Morgan
  • Johanna Barr - Managing Director and Global Co-Head of Limited Partner Services, Advent International
  • Ilona Brom - Managing Director , Wilshire Private Markets

How are GPs of oversubscribed funds maintaining a good culture of customer service to their LPs and preserving long-term relationships when allocation requests can’t be met? What do LPs think of GPs who close the door?

12:30 - 13:30 60 mins
Private Debt Summit
Lunch & LP Only Lunch
12:30 - 13:30 60 mins
Secondaries
Lunch & LP Only Lunch
12:30 - 13:30 60 mins
Fundraising Summit
Lunch & LP Only Lunch
13:30 - 13:55 25 mins
Private Debt Summit
The Adyen formula
  • Pieter van der Does - CEO, Adyen
13:30 - 13:55 25 mins
Secondaries
The Adyen formula
  • Pieter van der Does - CEO, Adyen
13:30 - 13:55 25 mins
Fundraising Summit
The Adyen formula
  • Pieter van der Does - CEO, Adyen
13:55 - 14:00 5 mins
Private Debt Summit
Afternoon chair
  • Chair Fred Nada - Partner, Private Debt Group, BlueBay Asset Management
14:00 - 14:30 30 mins
Info
Private Debt Summit
LPs on private debt
  • Moderator James Newsome - Managing Partner, Arbour Partners
  • Panellists Frank Meijer - European Head of Alternative Fixed Income, Aegon Asset Management
  • Francesco Battazzi - Head of Diversified Debt Fund Investments, European Investment Fund – EIF
  • Christoph Gort - Managing Partner, Siglo Capital Advisors
  • Brian Olvany - Head of Private Debt, Zurich Insurance Company

How are prudent LPs building and managing their private debt portfolios? Which classes of private debt are most attractive and what are LP views on current levels of leverage, financing sources and underwriting standards? Is private debt an easy sell to the investment board?

14:00 - 14:30 30 mins
Secondaries
Case study: Unlocking what it takes to make a GP-led deal a success
14:00 - 14:15 15 mins
Info
Fundraising Summit
Explosion of first time funds and spin outs- Session i: Data
  • Host Marc der Kinderen - Managing Partner, 747 Capital
  • Kelly DePonte - Managing Director, Probitas Partners

Are established GPs still worth it or should LPs be backing new managers?

Exploring the universe of first time funds: how much capital is hoping to be raised, what sectors/strategies/regions are being targeted and how many are spins outs vs brand new teams? To date, who has raised well and who hasn’t? How does performance compare to that of established managers?

14:00 - 15:00 60 mins
Info
LP Only
LP only ‘Off the record’

Closed door discussion. 

Run under the Chatham House Rule. Interactive discussion encouraged. Places are limited.

14:15 - 14:45 30 mins
Info
Fundraising Summit
Session ii: Candidly speaking - spin-out GPs who have made it
  • Interviewed by Marc der Kinderen - Managing Partner, 747 Capital
  • Story #1 Timothy Meyer - Co-founder and Managing Partner, Angeles Equity
  • Story #2 Oriol Pinya - Founder & CEO, Abac Capital

2x successful new GPs share their story on how they managed to raise their first fund and continue to source deals competitively under a new identity. How can a rockstar in a large fund continue to be so in a new fund?

14:30 - 15:00 30 mins
Info
Private Debt Summit
Beyond direct lending: speciality finance
  • Moderator Patrick Stutz - CIO, Bayshore Capital
  • Panellists Eran Davidson - Founder & Managing Partner, Davidson Technology Growth Debt
  • Kanchan Jain - Managing Director, Baring Private Equity Asia
  • Loïc Fery - CEO & Co-CIO, Chenavari Investment Managers

Which speciality credit strategies outside of corporate debt offer the most compelling returns and diversification? Exploring the risk/return and yielding profiles of sub prime loans, royalty streams, short duration lending, bank capital relief, aircraft finance and other specialist strategies.

14:30 - 15:00 30 mins
Info
Secondaries
Beyond GP-led: the rise of specialist secondaries
  • Benjamin Revillon - Founder and Managing Partner, BEX Capital
  • Hans Swildens - Founder & CEO, Industry Ventures
  • David Lindsay - Partner, Infrastructure, Stafford Capital Partners
  • Stefan Lempen - Managing Director, Co-Head Private Real Estate Europe, Partners Group

Where are the pockets of value in fund-of-funds, real estate, energy, timber, venture capital and debt secondaries? How can these niche investments compliment a broader secondaries portfolio and what is the best way to approach such investments?

14:45 - 15:15 30 mins
Info
Fundraising Summit
Session iii: LPs on first time funds
  • Moderator Joe Topley - Director, Ontario Teacher's Pension Plan
  • Panellists Gordon Hargraves - Partner, Private Advisors
  • James Roebuck - Managing Partner, Clearsight Investments
  • Jan Faber - Managing Director, Bregel Private Equity Partner

Understanding the people and the motivation

How critical is exposure to new GPs in a private equity portfolio? How much can you rely on track record if the new fund focus or size is different to that of the previous life and how much skin in the game should there be? Seasoned LPs share their views on how best to diligence these funds, the right questions to ask and how to hold your nerve.

15:00 - 15:30 30 mins
Info
Private Debt Summit
Real asset debt: the smart money move
  • Paul House - Managing Partner, Venn Partners
  • Martin Wheeler - Co-Head of ICG-Longbow Investment Committee member, ICG Longbow
  • Hervé Besnard - Founder and CEO, Rivage Investment
  • Emma Haight-Cheng - Principal, Infrastructure Debt, AMP Capital

Is real asset debt a good diversifier, what are the real risks and where are the most compelling investment opportunities? Where is the smartest money being deployed in real estate debt, especially at the smaller end of the market, and how will changes to bank regulation and Basel IV affect leverage ratios and overall deal flow?

15:00 - 15:45 45 mins
Secondaries
Afternoon coffee
15:15 - 15:45 30 mins
Fundraising Summit
Afternoon coffee
15:30 - 16:00 30 mins
Private Debt Summit
Afternoon Coffee
15:45 - 16:15 30 mins
Info
Secondaries
LP views on liquidity
  • Moderator Hans van Swaay - Partner, Lyrique Private Equity
  • Panellists Giovanni Davide Orsi - Senior Director, Head of Funds, Private Equity, PSP
  • Richard Hope - Managing Director, Hamilton Lane
  • Richard Wilmes - Director, Golding Capital Partners

How valuable are traditional secondaries vs more structured solutions for active portfolio management? What is the LP response to the new ways GPs are generating liquidity for their investors through means other than selling underlying assets? What do LPs actually want?

15:45 - 16:15 30 mins
Fundraising Summit
Fundraising as an indicator for vintage year performance: the Schroder Adveq FRI
  • Nils Rode - Chief Investment Officer, Schroder Adveq
16:00 - 16:30 30 mins
Info
Private Debt Summit
‘Uberisation’ of credit
  • Moderator Shivan Bhavnani - Senior Editor, Leveraged Commentary & Data, S&P Global Market Intelligence
  • Panellists Gabriella Kindert - Head of Alternative Credit, NN Investment Partners
  • Jeffrey Kramer - Principal, Mariana Systems
  • Alex Schoenbaum - CEO, CrowdOut Capital

Exploring big data and online lending platforms: how is technology disrupting the traditional model of private debt? How are savvy investors and lenders harnessing this trend to enhance access to deals and improve capital raising?

16:15 - 17:15 60 mins
Info
Secondaries
GP led deal: when is a good deal not a good deal?
  • Chairman Yann Robard - Managing Partner, Whitehorse Liquidity Partners

‘Off the record’ closed door discussion

Get to know what your peers really think. Your chance to join a candid discussion run under the Chatham House Rule. 

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

  • What justifies good and poor motivation for a deal?
  • What can LPs in the existing fund do to ensure they are getting a fair deal?
  • What terms can LPs insert into LPAs to strengthen their power in these situations?
  • How can we prevent scenarios where these transactions are just accelerating carry to an underperforming fund?
  • Is this just another gravy train or a positive step forward for generating liquidity?
16:15 - 16:45 30 mins
Info
Fundraising Summit
Digitalisation of investor relations & due diligence
  • Anamica Broetz - Head of Investor Relations, DWS
  • Hemal Mehta - Founder & CEO, AtomInvest

How positive have experiences of technology penetration across the private equity value chain been to date? Can technology enhance the investor relations function without disintermediating it and how are digital vaults and other new data tools improving due diligence processes?

16:30 - 17:00 30 mins
Info
Private Debt Summit
Distressed debt
  • Moderator Timothy Atkinson - Director, Meketa Investments
  • Panellists Jonathon Ferguson - Managing Director, Goldman Sachs Private Capital
  • John Brantl - Managing Director, Strategic Value Partners
  • Andrew Davies - Head of Europe, Senior Managing Director and Portfolio Manager, CVC Credit Partners

What could trigger the next wave of opportunity for investors in distressed debt and how are smart GPs positioning themselves to ensure they capitalise on this? Exploring the opportunities in the mid market and beyond.

16:45 - 17:30 45 mins
Info
Fundraising Summit
2018 LP survey: what do the results tell us?
  • Kelly DePonte - Managing Director, Probitas Partners

Interactive discussion on understanding current LP appetites

17:00 - 17:30 30 mins
Info
Private Debt Summit
Manager selection: how to stand out from the private debt crowd
  • Moderator Ingrid Neitsch - Head of Strategic Credit, Aberdeen Standard Investments
  • Panellists Oliver Fochler - CEO, Stone Mountain Capital
  • Filippo Petrucci - Investment Director, Private Credit and Co-Investments, Cambridge Associates
  • Abhik Das - Managing Director, Head of Private Debt, Golding Capital Partners

How well are managers differentiating themselves in an increasingly overcrowded market and convincing LPs they are equipped to survive a market downturn and thrive, with no or little track record? Are we too late in the cycle to accept new entrants?

17:45 - 19:15 90 mins
Info
2018 Gala cruise drinks reception

Boarding will begin from 17.30 and the boats will depart from the Hotel Okura Jetty at 17.45 sharply.

The boats will return to the Hotel Okura Jerry at 19.15.