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Informa
Oct 16
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Showing of Streams
Showing of Streams
Showing of Streams
07:45 - 08:45 60 mins
LP
LP and GP/Service Provider Breakfast
07:45 - 08:45 60 mins
GP
LP and GP/Service Provider Breakfast
08:15 - 09:00 45 mins
Day 2
Morning Coffee
09:00 - 09:05 5 mins
Day 2
Chair’s Welcome Address
09:05 - 09:35 30 mins
Day 2
Sponsored (Safer & Better?) Vs Non Sponsored (More Challenging, Risker?) Or Vice Versa?
  • Moderator Brett Hickey - Founder & CEO, Star Mountain Capital
  • Theodore Koenig - President & CEO, Monroe Capital LLC
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What is the growth and attractiveness of sponsored vs non-sponsored among investors? Are LPs gaining access to the lower middle market credit space? Examining appropriate fee structures, the deterioration of covenants, navigating a downturn and delivering credit to both high and lower net worth investors

09:35 - 10:00 25 mins
Day 2
Innovation & Disruption
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With massive changes and disruption in the broader economy from automation to bio tech, healthcare to AI, how can the private credit market allocate within this?

10:00 - 10:15 15 mins
Day 2
Interview: Speciality Finance Unpacked
  • Interviewer Mary Bates - Managing Director, Pension Consulting Alliance
  • Interviewee Shan Chen - Lead Portfolio Manager, Arizona PSPRS Trust
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10:15 - 10:45 30 mins
Day 2
Panel: Speciality Finance Unpacked
  • Moderator Mary Bates - Managing Director, Pension Consulting Alliance
  • Tod Trabocco - Managing Director, Cambridge Associates
  • David Aidi - Partner, Atalaya Capital Managment
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10.15-10.45 - Panel discussion: Constructing a private debt portfolio using specialists: What is speciality finance? Self Liquidating vs ABL? How much capital is flowing from core strategies to speciality finance? Focusing on asset-based collateral and structure to ensure risk control and value proposition

10:45 - 11:15 30 mins
Day 2
Morning Coffee
11:15 - 11:45 30 mins
Day 2
Distressed, Special Sits And Opportunistic Funds
  • Moderator Kelly DePonte - Managing Director , Probitas Partners
  • Catherine Beard - Director of Research, Blueprint Capital
  • Cyril Tergiman - Partner, EQT Partners
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With the market being rich and assets almost priced to perfection, why invest here, where are the investment opportunities and how do you put your money to work? Is there a paradigm shift in distressed due to covenant light – will recoveries be as good?

11:45 - 12:05 20 mins
Day 2
Managing Defaults!
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With the market being rich and assets almost priced to perfection, why invest & when? Where are the investment opportunities and how do you put your money to work? Is there a paradigm shift in distressed due to covenant light – will recoveries be as good?

12:05 - 13:00 55 mins
Day 2
Spotlight On: Investing In Private Credit Vehicles – The Good, The Bad And The Ugly
  • Jonathan Bock - Managing Director, Wells Fargo Securities
  • David Spreng - CEO, Runway Growth Captial
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BDCs: What is the health of BDCs and how aggressive have inflows been?

Securitisations & CLOs: Can you cycle into a compelling return?

 

 Exploring fund structures & dynamics: What are the benefits of funds, public/private BDCs, SMAs, FOF1s, CLOs, going public and more – how do they stack up vs the alternatives?

13:00 - 14:00 60 mins
Day 2
Lunch
14:00 - 14:35 35 mins
Day 2
Corporate Debt Structures & Strategies: Differentiating Approaches
  • Christopher Flynn - CEO, THL Credit
  • Moderator Ian Larkin - Co-Founder and Managing Director, Maranon Capital
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Analysing opportunities in 1st lien, unitranche, 2nd lien & mezz; What has it done to spreads & deal flow? Where do you source deals with yields narrowing? How are corporate debt managers reacting?

14:35 - 15:10 35 mins
Day 2
Real estate & infrastructure debt: Are we at the end of the cycle?
  • Larissa Herczeg - Managing Partner & CIO, Oak Street
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Who is offering debt financing and on what terms? Launching a debt platform; how have loan structures & terms changed over the past 5 yrs? what are the target risk/returns – where are we in the cycle in respect to different sub segments?

15:10 - 15:30 20 mins
Day 2
Structures: Evergreen Funds Vs Closed End Funds
  • Ahsha Merson - Principal, TPG Sixth Street Partners
  • Mark Penna - Managing Partner, Emerald Creek Capital LLC
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Contrasting the advantages of closed end funds (know exit pricing, no cash drag) with the advantages of evergreen funds (being invested for the long term)

15:30 - 16:00 30 mins
Day 2
Peer To Peer Finance – To Disrupt Or Not To Disrupt?
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How credible as a long term competitor are peer to peer lending platforms: Will the risk of regulation come back? allocating capital, underlying models vs underlying platforms, or should you go it alone? With mainly mid-single digit returns, will the trend amongst many institutional LPs for higher octane continue?

16:00 - 16:15 15 mins
Day 2
Afternoon Coffee
16:00 - 16:15 15 mins
LP
Afternoon Coffee
16:15 - 16:20 5 mins
Day 2
End Of SuperReturn Private Credit 2018
16:15 - 17:15 60 mins
LP
LP Only Roundtables
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Each presentation will have a 3-4 minute topic introduction from an industry expert, followed by 10 minute LP only roundtable discussion followed by a 5 minute feedback to the room

  1. Introductions! Different Ways Of Constructing A Private Debt Portfolio: What do you do now that yields have come down? What do you want your manager to do? How are you reacting to this? Portfolio generalists or specialists
  2. LP Perspectives On Direct Lending Vs Esoteric Funds: With the plan vanilla PC market getting too crowded, where are allocators finding opportunities?
  3. Leverage & Pricing: Managing their own leverage exposure; understanding various types of leverage structures, composition of return, financial engineering, liabilities, cost of leverage and balance sheet; how are subscription lines being used – to bridge investment or pump up IIR
  4. Manager Due Diligence:What distinguishes different managers and what is an effective criteria for selecting?
  5. Documentation trends:Impact of new tax law changes effecting structures, who are the credit parties, incurrence structure & provision; restricted payments
17:15 - 17:20 5 mins
LP
End of SuperReturn Private Credit 2018 LP Boardroom