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
Oct 21
Show Filter
8:00am - 9:00am

Coffee and registration

More
Showing of Streams
Showing of Streams
Showing of Streams
11:10am - 11:40am

Morning coffee & networking

More
Showing of Streams
1:10pm - 2:10pm

Lunch for all speakers & delegates PLUS LP only Lunch & Learn hosted by Barings

More
Showing of Streams
3:30pm - 4:00pm

Afternoon Coffee & networking

More
Showing of Streams
5:00pm - 6:30pm

End of SuperReturn Private Credit US Day 1 & Networking Drinks

More
8:00am - 9:00am 60 mins
Coffee and registration
9:00am - 9:05am 5 mins
Day 1
Chair’s welcome address
9:05am - 9:40am 35 mins
Info
Day 1
View from the peak: Are we at saturation point in the private credit market?
  • From interest rates to trade tariffs, structures to covenants, is the industry still searching for yield without sacrificing deal quality?
  • With corporate balance sheet leverage high, consumer leverage high plus high market valuations, is there capacity in the market? What is the impact on returns as companies chase weaker deals?
  • Will specialization start to see better risk adjusted returns than generalist direct lending funds?
9:40am - 10:10am 30 mins
Info
Day 1
The Macro-economy and geo-political overview
  • As the economic cycle turns what are the key drivers of growth and opportunity across market cycles? 
  • How can private credit boost investor returns and improve diversification?
10:10am - 10:30am 20 mins
Info
Day 1
The evolution of fundraising

5 mins data presentation: How much capital is flowing into the space? How much has been raised and who is active in the market?

Followed by LP/GP panel

Has fundraising is becoming ever more competitive with complex LP engagement and heightened LP due diligence, how should you set up your fundraising to succeed?

10:10am - 10:30am 20 mins
Info
Engaged Conversations
Macroeconomics and credit cycles

121 with our guest speaker

10:30am - 11:10am 40 mins
Info
Day 1
Sponsored vs non sponsored: sourcing, execution and performance

Why sponsored vs non-sponsored? With dry powder at an all time high, what value do senior secured, sponsored back managers offer? The pros & cons of origination, execution and loss rates, fees, risk adjusted return differentials and the deterioration of covenants

11:10am - 11:40am 30 mins
Morning coffee & networking
11:40am - 12:10pm 30 mins
Info
Day 1
Portfolio construction & fund risks: what influences credit selection?

How has portfolio construction evolved? How do you benchmark performance? Building a “down” cycle into your model – how does this impact credit selection? What is the split between direct lending and non correlated strategies? What are the concerns in a private debt portfolio? Is it recovery rates being lower with weaker covenants, the (in)ability to extract value, or not selling the asset the exit phase? How are portfolios performing with covenant lite deals?

12:10pm - 12:40pm 30 mins
Info
Day 1
LPs on manager differentiation

How do managers differentiate themselves within their core strategies? With more capital supplied than capital demand how can direct lending firms differentiate when they are mainly competing on price, terms or structure? What are LPs looking for in today’s economic environment? Examining partnerships, strategies, terms and track record in the search for yield

12:40pm - 1:10pm 30 mins
Info
Day 1
Spotlight on Covenants: Should a good loan be measured by LTV and debt service or by other covenants?

What is the significance of covenants, how to enforce & monitor covenants, what if you don’t have them? How will these loans influence the different corners of the private credit market and what are the consequences?

1:10pm - 2:10pm 60 mins
Lunch for all speakers & delegates PLUS LP only Lunch & Learn hosted by Barings
2:10pm - 2:40pm 30 mins
Info
Day 1
Speciality finance: Be creative!

Self liquidating strategies vs ABL; what is the long term performance of these funds? Tail end risk, taxable vs non taxable; what makes a good speciality finance manager? Why are investors looking to diversify into something less correlated and concentrated than the traditional direct lending space? (real estate lending, aircraft, helicopter financing, infra or energy)

2:40pm - 3:00pm 20 mins
Info
Day 1
Panel: Real estate debt & innovation

How do managers source opportunities and who is interested in the asset class? With compressing spreads how do you position yourself? Understanding the different risk/return profiles, geography vs size; How might innovation (the internet, driverless cars etc) influence the asset class?

3:00pm - 3:30pm 30 mins
Info
Day 1
Successfully leveraging technology in your asset management business

How are direct lenders / private debt funds utilizing technology to underwrite transactions and source capital? Exploring fund accountancy and allocation and capacity analysis. Is technology fundamentally changing the core activities of private credit investors?

3:30pm - 4:00pm 30 mins
Afternoon Coffee & networking
4:00pm - 4:10pm 10 mins
Info
Day 1
Introduction of PechaKucha by the chair!

PechaKucha is a presentation style in which 20 slides are shown for 20 seconds each (6 minutes and 40 seconds in total). Speakers must be concise and fast-paced! Q&A will follow for the remaining time

4:10pm - 4:25pm 15 mins
Info
Day 1
How to stress test your deal: a deep dive into underwriting & documentation

What are managers taking into consideration? How will a loan perform well in the cycle? Understanding the quantum and nature of EBITDA adjustments, asset leakage and cash leakage; What are managers stress testing, when & how? How does the capital structure impact this? What pitfalls in current documentation should you look out for?

4:25pm - 4:40pm 15 mins
Info
Day 1
The role of leverage in your portfolio

Where are leverage ratios and how are they used? Are we seeing a strengthening or weakening of deal terms? What is the difference between the lower & upper end market in terms of structuring and terms? Loan pricing & deal terms

4:40pm - 4:55pm 15 mins
Info
Day 1
Insight into structuring deals to manage risks - achieving the best risk adjusted returns

What return are you targeting and how do you get there? What’s the return composition? How do you structure with coupons? How does economic / political risk fit in?

4:55pm - 5:00pm 5 mins
Day 1
Chair’s round up of the day
5:00pm - 6:30pm 90 mins
End of SuperReturn Private Credit US Day 1 & Networking Drinks