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Who has been allocating, how much, and where? What do we expect for fundraising in 2018?
A granular look-through at allocations, funds raised and dry powder
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?
Positioning yourself as an LP of choice to maximise allocation to oversubscribed funds: is there anything you can do to improve your chances?
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?
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?
A selection of new funds will showcase their strategy & differentiators to demonstrate what it takes to get a fund successfully off the ground
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?
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?
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.
Private Debt Summit
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?
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?
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?
How will political and regulatory dichotomy between Europe and the U.S. Impact opportunities in the respective private debt markets?
How do the various products and strategies in 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?
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?
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?
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?
What is happening to terms at the deal level and at the fund level? How does this compare to previous cycles and to what extent are managers maintaining discipline?
Presentation followed by panel discussion
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?
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?
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?
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?
What is new and what can we expect in 2018?
Is the growth of the market sustainable and how are managers justifying the prices paid?
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?
Has the GP-led market lived up to the hype? What are current deal structures and trends?
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?
How are LPs are using the secondaries market and what does this mean for future deal flow? M
What are the alternatives to a straight sale available to LPs? What structures have been used and what lessons have been learnt?
An insight into the mechanics behind the scenes, demonstrating how the secondary market enables large institutions and sovereign wealth funds to fulfil strategic goals