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
08:20 - 08:50

Registration and Welcome coffee

Showing of Streams
10:30 - 11:00

Morning Coffee

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

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
09:00 - 09:30 30 mins
Private Debt Summit
Macroeconomic address: private debt – where are we in the cycle?
more

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 - 09:30 30 mins
Secondaries
Data presentation: Secondaries 2018 roundup
more

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

09:00 - 09:30 30 mins
Fundraising Summit
Data presentation: 2018 fundraising roundup
more

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?

09:30 - 10:00 30 mins
Private Debt Summit
Another record year in private debt: so now what?
  • Blair Jacobson - Partner, Co-Head of European Credit, Ares Management
more

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
Secondaries
The commoditisation of secondaries: deal sourcing & pricing
more

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
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
more

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
Private Debt Summit
Head to head debate: who is best placed to survive the downturn?
  • Mezzanine Louis Lavoie - Managing Director, Crescent Capital
more

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

10:00 - 10:30 30 mins
Secondaries
The new reality in underwriting secondaries funds
  • Cari Lodge - Managing Director, Head of Secondaries, Commonfund
  • Daniel Benin - Managing Partner, Commited Advisors
more

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.

10:00 - 10:30 30 mins
Fundraising Summit
Strategy drift and product proliferation: can you be a master of all trades?
  • Nicolas von der Schulenburg - Managing Director, Portfolio Advisors
more

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
Private Debt Summit
Direct lending
  • Daniel Sachs - CEO, Proventus Capital Management
  • Kirsten Bode - Co-Head of Pan- European Private Debt, Muzinich & Co
more

What does the term ‘direct lending’ encompass today and are returns meeting expectations? Beyond SME lending, where are the banks retracting and where is the most interesting deal flow? How are smart managers preparing themselves for the eventuality there is a rise in defaults? What are the benefits of securitisation vs bank lending for finance?

11:00 - 11:30 30 mins
Secondaries
GP led deals in the mainstream
  • David Atterbury - Managing Director, HarbourVest Partners
more

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?

11:00 - 11:30 30 mins
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
more

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
Private Debt Summit
Data presentation: will private debt ever be as big as private equity?
more

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

11:30 - 12:00 30 mins
Secondaries
Creative structuring solutions: preferred equity and beyond
  • Yann Robard - Managing Partner, Whitehorse Liquidity Partners
more

Where are we seeing innovation and what assets are being targeted? How much is downside protected equity at lower rates of return a growing part of the market? What developments are we seeing in the thesis and structuring of these novel solutions for transaction financing, and what has market adoption been like to date?

11:30 - 12:00 30 mins
Fundraising Summit
Regulation and compliance: essential need-to-knows for 2019
12:00 - 12:30 30 mins
Private Debt Summit
Mezzanine: time to move off the back burner?
  • Moderator Paul Shea - Managing Partner, Beechbrook Capital
  • Panellists Alfonso Erhardt - Partner, Oquendo Capital
more

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
Secondaries
Secondaries risk: how has it changed?
  • Nik Morandi - Senior Principal, Funds, Secondaries & Co-Investments, CPPIB
  • Andre Aubert - Partner and Co-Head, PE Secondaries, LGT Capital Partners
  • Matt Jones - Partner, Pantheon
more

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
Fundraising Summit
Booking a table at Le Caprice: managing LP/GP relationships in access-constrained funds
more

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 - 12:55 25 mins
Private Debt Summit
Keynote address
12:30 - 14:00 90 mins
Secondaries
Lunch
12:30 - 14:00 90 mins
Fundraising Summit
Lunch
12:55 - 14:00 65 mins
Private Debt Summit
Lunch
14:00 - 14:30 30 mins
Private Debt Summit
LPs on private debt
  • Moderator James Newsome - Managing Partner, Arbour Partners
more

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
Post-closing active portfolio management
  • Moderator Yann Robard - Managing Partner, Whitehorse Liquidity Partners
more

How are portfolios being actively managed post acquisition? Under what circumstances does selling or recapping a portfolio make sense and what are the other methods being used to generate liquidity post-closing a transaction?

14:00 - 14:15 15 mins
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
more

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?

14:15 - 14:45 30 mins
Fundraising Summit
Session ii: Candidly speaking - an interview with spin-out GPs who have made it
more

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
Private Debt Summit
A life beyond direct lending: speciality finance
more

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
Secondaries
Specialist secondarires
more

Where are the pockets of value in 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
Fundraising Summit
Session iii: LPs on first time funds
  • Gordon Hargraves - Partner, Private Advisors
more

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
Private Debt Summit
Real asset debt: the smart money move
more

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 - 15:30 30 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
15:30 - 16:00 30 mins
Secondaries
LP views on liquidity
more

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
Digitalisation of investor relations & due diligence
more

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?

16:00 - 16:30 30 mins
Private Debt Summit
‘Uberisation’ of credit
more

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?

16:00 - 17:00 60 mins
Secondaries
GP led deal: when is a good deal not a good deal?
more

NO PRESS

Closed door boardroom session

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
Fundraising Summit
Showcase: spotlight on selected technologies disrupting fundraising as we know it
more

A curated showcase of novel software solutions will be presented. Each will have 5 minutes to share their cutting-edge technology. Followed by Q&A.

16:30 - 17:00 30 mins
Private Debt Summit
Distressed debt
more

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 - 17:15 30 mins
Fundraising Summit
Understanding LPs – interactive discussion on the results of 2018 LP survey
  • Kelly DePonte - Managing Director, Probitas Partners
more

Closed door session

17:00 - 17:30 30 mins
Private Debt Summit
Fundraising: how to stand out from the crowd
  • Oliver Fochler - CEO, Stone Mountain Capital
more

How 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?

17:00 - 18:30 90 mins
Secondaries
2018 Gala cruise drinks reception
more

Boats depart from and return to Hotel Okura Jetty

17:15 - 18:45 90 mins
Fundraising Summit
2018 Gala cruise drinks reception
more

Boats depart from and return to Hotel Okura Jetty

17:30 - 19:00 90 mins
Private Debt Summit
2018 Gala cruise drinks reception
more

Boats depart from and return to Hotel Okura Jetty