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Key Sessions

Todd Buchholz

Sanity check: where are we in the cycle, and where are we heading next?

Former White House director of economic policy under George H.W. Bush

08:30 - 09:00

Registration and Welcome Coffee

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08:30 - 09:00 30 mins
Registration and Welcome Coffee
09:00 - 09:05 5 mins
Main Conference sessions
Chair’s opening remarks
  • Chair Eric Harnish - Principal, Private Markets Research, NEPC
09:05 - 09:30 25 mins
Info
Main Conference sessions
Sanity check: where are we in the cycle, and where are we heading next?
  • Speaker Todd Buchholz - Economist, Former White House director of economic policy under George H.W. Bush

How is PE performing in reality? What will North American PE market look like in 6 years’ time? 

09:30 - 09:50 20 mins
Info
Main Conference sessions
LP perceptions on the place of PE in their investment portfolios
  • Paige Brotherton - Partner, Coller Capital

Insights from the Coller Capital Global Private Equity Barometer, sharing LP views on valuations and returns, co-investments, ESG, diversity and more 

09:50 - 10:30 40 mins
Info
Main Conference sessions
The longest bull market in history: is it about to end?
  • Moderator Andrew Wright - Partner, Kirkland & Ellis LLP
  • Panellists Mark Gormley - Partner, Lee Equity
  • Daniel LeMoine - Principal, Brooke Private Equity Associates
  • Chris Egan - Managing Director, Advent International

Eight years of upmarket: how much longer can it last? Are we in a bubble on the verge of popping, and how do we prepare for a potential downturn? Can equities still produce decent returns from here?

10:30 - 11:00 30 mins
Info
Main Conference sessions
LPs on what is “normal” in today’s market
  • Moderator Eric Harnish - Principal, Private Markets Research, NEPC
  • Panellists Steve Cowan - Managing Director & Co-Founder, 57 Stars
  • Ksenija Jovanovic - Director, Private Equity, Zurich Alternative Asset Management
  • Stephen Wesson - Managing Director & Global Head of Private Equity, HQ Capital
  • Brandon Laughren - CIO, Laughren Group

What are the business models and strategies that can operate in the down cycle? How does the current cycle influence LPs and their commitment decisions? How do LPs construct their portfolio according to the risk of potential returns? How to LPs evaluate GPs and their strategies? What are today considered to be “normal” and sustainable returns? Will a down cycle encourage a flight to later stage and/or listed companies? 

11:00 - 11:30 30 mins
Networking Breaks
Networking Break
11:30 - 12:15 45 mins
Info
Main Conference sessions
GP value creation and deal sourcing
  • Moderator Scott Spielvogel - Managing Partner, One Rock Capital Partners
  • Panellists Steven Abernathy - Founder and Chairman, The Abernathy Group II Family Office
  • Melissa Withers - Managing Director, RevUp Capital
  • Gordon Hargraves - Partner, Private Advisors

How can GPs to demonstrate they create value beyond words? How GPs sourcing deals in this environment and what are they paying for deals now as compared to a few years ago? GPs on finding opportunities in the smaller end of the lower mid-market. What do LPs expect from an operational strategy?

12:15 - 12:45 30 mins
Info
Main Conference sessions
Subscription lines of credit: pros and cons
  • Moderator Dan Tennant - Director, Global Client Management, BNY Mellon
  • Panellists Oliver Gottschalg - Associate Professor, HEC School of Management, Paris
  • Jesse Hurley - Managing Director, Market Manager for Global Fund Banking, Silicon Valley Bank
  • Eric Harnish - Principal, Private Markets Research, NEPC
  • Robert Wadsworth - Managing Director, HarbourVest Partners

Subscription lines and short term asset management – a useful tool? Subscription lines and fund level leverage: where is the breaking point? Disclosure of fund level returns on both a levered and unlevered basis – does transparency solve perceived problems?

12:15 - 12:45 30 mins
Info
Breakout sessions
What is the impact of GPs selling stakes in themselves?
  • Facilitators Jeffrey Jay - Senior Managing Director, Great Point Partners
  • Gail Guerin - Founder, The Guerin Group
  • Christian Von Schimmelmann - Managing Director, Goldman Sachs

[Boardroom discussion]

Is this set to become a mainstream trend?

12:45 - 13:55 70 mins
Networking Breaks
Networking Lunch
13:55 - 14:00 5 mins
Secondaries
Track Chair opening remarks
  • Gerald Cooper - Partner, Campbell Lutyens
13:55 - 14:00 5 mins
Fundraising and LP/GP relations
Track Chair opening remarks
  • Chair Christopher Godfrey - Senior Partner, CEPRES GmbH
13:55 - 14:00 5 mins
CFO/COO Workstream
Track Chair opening remarks
  • Chair Jason Sheller - Head of Private Equity Fund Services Sales, Apex Fund Services
14:00 - 14:30 30 mins
Info
Secondaries
LP perspective on secondaries
  • Moderator Solomon Owayda - Founding Partner , Mozaic Capital
  • Panellists Tom Kerr - Managing Director, Hamilton Lane
  • Cari Lodge - Managing Director & Head Of Secondaries, Commonfund
  • Scott Humber - Managing Director, Landmark Partners

Understanding why LPs use the secondary market.  How are secondaries used as portfolio management tools.  How should LPs think about secondary pricing.  Are pricing expectations in line with reality?

14:00 - 14:30 30 mins
Info
Fundraising and LP/GP relations
Raise and repeat
  • Moderator Gregory Lamb - Managing Partner, Alcazar Partners LLC
  • Panellists Gene Wolfson - Partner, Investor Relations & Business Development, Catalyst
  • Andrew Harris - VP, Limited Partner Services, Advent International
  • Elizabeth Bride - COO, Guidepost Growth Equity
  • Mary Kate Bertke - Director IR, Great Hill Partners

What are the common challenges of raising the second/third & subsequent funds? Keeping LPs in the fold - how to increase the odds of re-ups. Pre-emptive measures to know who is “in” before the fundraise launch. How to keep your story fresh. How should your approach differ to current and prospective LPs?

14:00 - 14:30 30 mins
Info
CFO/COO Workstream
From a deal making machine to an integral part of business
  • Moderator Malcolm Pobjoy - Group Commercial Director, Vistra
  • Fred Ebrahemi - General Counsel & Chief Compliance Officer, Clearlake Capital Group
  • Omar Hassan - CFO & CCO, Cloverlay
  • Kirsty McGuire - Deputy General Counsel, Stepstone
  • How the COOs and CFOs eventually migrate more to a strategical role rather than pure financial? 
  • Getting more involved in the deal side, managing conflicts, analysing regulatory landscape and its impact on the future of the fund
  • Working closely with LPs in the fundraising stages and ensuing transparency and communication
  • How do you really allocate costs and expenses across your portfolio companies? Is it possible to get it completely right with the current SEC requirements?
14:30 - 15:00 30 mins
Info
Secondaries
Innovations in the secondary market
  • Moderator Michael Forestner - Co-CIO, Mercer Private Markets
  • Panellists Ram Rao - Managing Director, Fund Linked Products, Macquarie Capital
  • Yann Robard - Managing Partner, Whitehorse Liquidity Partners
  • Nicholas Lawler - Vice President, 50 South Capital

How has the secondary market evolved over the past 10 years?  What options are there to bridge the gap in pricing expectations?  How do you structure transactions to maximize value for the seller?  

14:30 - 15:00 30 mins
Info
Secondaries breakout sessions
Generating alpha in Secondaries
  • Facilitators Edoardo Levy - Director, Investec
  • Martha Cassidy - Director , Abbott Capital

[Too hot to touch session]

How has the market evolved over the last few years beyond “traditional”? How do market players ensure a real return on investment? 

14:30 - 15:00 30 mins
Info
Fundraising and LP/GP relations
How have LPs expectations evolved and changed over the last ten years?
  • Reid Smith - Principal, Private Markets, Mercer
  • In conversation with R. Narayan Chowdhury - Managing Director, Franklin Park
  • Amy Harsch - Managing Director , American Securities

Have the return expectations been reduced while liquidity takes prominence? How are fund extensions viewed? Are there expectations on reduced fees for larger funds? Impact of hurdle rates. Are LPs more open to alternative fund structures such as evergreen, special purpose vehicles, corporate structures, etc.?

14:30 - 15:00 30 mins
Info
CFO/COO Workstream
Digital transformation
  • Moderator Ross Koenig - Vice President of Research, RCP Advisors
  • Panellists Nina Labatt - CFO & Administrative Partner, Trinity Ventures
  • Rick Walsh - Partner, Court Square Capital Partners
  • Tom Williams - Head of Insight North America, eFront
  • Spencer Hoffman - Partner, Lovell Minnick Partners LLC

How is technology disrupting business today? An overview of new technological and digital innovations influencing the internal processes. How are CFOs and COOs viewing their own firms as a portfolio company in need of transformation? How can tech solutions be used to bring together different lines of business?

14:30 - 15:00 30 mins
Info
CFO/COO breakout sessions
Managing turnover in teams and funds
  • Facilitators Simon Thornton - Founder, PEARonline
  • Parag Gandesha - Consultant, MML Capital Partners

How do you manage integrating a new team and getting rid of someone in the team? Managing ongoing changes on a senior level and with LPs. How do you handle succession including the communications to current and prospective LPs?

15:00 - 15:30 30 mins
Info
Secondaries
GP-Led Transactions and Alternative Liquidity Solutions
  • Moderator David Perrin - Principal, Campbell Lutyens
  • Panellists Ken Sawyer - Managing Director, Saints Capital
  • Christophe Browne - Managing Director, ICG
  • Brian Musto - Managing Director, Goldman Sachs
  • Dan Townsend - Partner, New 2nd Capital
  • Creating liquidity out of a GP-led transaction: main options and structures
  • How common are these types of transaction?
  • What’s in it for the GP, the LPs and the Buyers?
  • What does a successful process look like?
  • What are the alternatives for fund managers?
  • New SEC private equity fund restructuring guidelines
  • Direct secondary transactions: when are they used, what do they bring to the table and what are the pros and cons of secondary directs?
15:00 - 15:30 30 mins
Info
Fundraising and LP/GP relations
Emerging managers get the spotlight
  • Interviewer Molly LeStage - Senior Vice President, Meketa Investment Group
  • In conversation with Russell Deakin - Managing Partner , Aceana Group

How do LPs evaluate first-time managers? Matching the LPs’ investment criteria. Best ways to approach new LPs and dealing with a “No”. How do you get LPs to tell you the real story?

15:00 - 15:30 30 mins
Info
Fundraising and LP/GP relations breakout sessions
Staying in the game when things don’t go as planned
  • Facilitators Lisa Lee - Managing Director, Providence Equity Partners
  • Lynn Alexander - Partner, Kelso & Company
  • David Johnson - Managing Director & COO, 4D Global Energy Advisors

[Too hot to touch session]

What IR, fundraising and general communication tactics can be used during periods of poor or mediocre performance to keep investors in the fold for the next fundraise? What can GPs do to get current and new LPs to commit? As an LP, what makes you back up a GP through thick and thin?

15:00 - 15:30 30 mins
Info
CFO/COO Workstream
Dealing with the SEC
  • Adam Reback - CCO, J. Goldman & Co.
  • In conversation with Naomi Sevilla - Senior Counsel, The Securities and Exchange Commission
  • Mayeti Gametchu - ‎Assistant Regional Director, The Securities and Exchange Commission

How do you prepare for an audit? Best practices. How do you communicate better with the SEC without being scrutinised? What mechanisms should be in place? How can firms navigate regulations and ensure they comply, without reducing their ability to perform?

15:30 - 16:00 30 mins
Networking Breaks
Networking break
16:00 - 16:30 30 mins
Info
Secondaries
Is there a winner’s curse? Secondary pricing in the current environment
  • Interviewer Martha Cassidy - Director , Abbott Capital
  • In conversation with Kumber Husain - Executive Director, Morgan Stanley
  • Richard Golaszewski - Executive Director, Nomura

How do secondary buyers find value in a robust economy?   What have been lessons learned from secondary buyers that have invested through cycles.  What are predictions for the secondary market environment going forward and how are secondary buyers positioned?

16:00 - 16:30 30 mins
Info
Fundraising and LP/GP relations
What constitutes a good LP/GP relationship today?
  • Moderator Brett Hickey - Founder & CEO, Star Mountain Capital
  • Panellists Charles Bauer - Managing Director, EnCap Investments
  • Sarah Smith - Principal, Limited Partner Services, Advent International
  • George Arnold - Managing Principal , Knightsbridge Advisers

Communication, transparency and reporting as the building blocks of a fruitful partnership. The art of negotiating friendly Terms and Conditions for LPs and fund managers

16:00 - 16:30 30 mins
Info
CFO/COO breakout sessions
Fund Fee & Expense Transparency and Disclosure
  • Facilitators Nancy Vailakis - Director and Head of New Business, Americas, Augentius
  • Jonathan Balkin - Executive Director, Lionpoint Group
  • Cari Lodge - Managing Director & Head Of Secondaries, Commonfund
  • Kirsty McGuire - Deputy General Counsel, Stepstone

Ensuring full disclosure on fees and expenses. Exploring the best due diligence practices. What percentage of capital can be fairly allocated to fund expenses?

16:30 - 17:00 30 mins
Info
Secondaries
Exploring sector-focused secondary strategies
  • Moderator Gerald Cooper - Partner, Campbell Lutyens
  • Panellists Thomas Bradley - Partner, StepStone Group
  • Lawrence Fang - Partner, Willowridge Partners
  • David Andryc - Principal, LGT Capital Partners
  • Eric Albertson - Senior Investment Director-Private Equity, Aberdeen Standard Investments

What are the some of the growth areas within secondary investing?  Why do investors find them attractive?  Can you be a generalist in the secondary market or do you need sector expertise?

16:30 - 17:00 30 mins
Info
Fundraising and LP/GP relations
LP/GP roundtable discussions
  • Facilitators R. Narayan Chowdhury - Managing Director, Franklin Park
  • Russell Deakin - Managing Partner , Aceana Group
  • Sheryl Schwartz - Managing Director, Investments, Caspian Private Equity
  • Eric Benhamou - Founder & Global Partner, Benhamou Global Ventures

Table 1: What are the top issues on the agenda for investors? Minimum Due diligence bars you need to meet 

Table 2: What are the main concerns for funds over the next year and how are these issues being managed?

Table 3: Identifying and backing the best fund managers: what due diligence are LPs undertaking?

Table 4: What are some of the common pitfalls of doing due-diligence, how can GPs help LPs?



16:30 - 17:00 30 mins
Info
CFO/COO Workstream
Risk management on international investments, cross border compliance and LEIs
  • Moderator Jason Sheller - Head of Private Equity Fund Services Sales, Apex Fund Services
  • Panellists Malcolm Pobjoy - Group Commercial Director, Vistra
  • Sunaina Sinha - Managing Partner, Cebile Capital
  • Melissa Dickerson - CFO, Genstar Capital

What are the risks to consider when investing outside of the U.S.? How can non-EU fund managers navigate European regulations? Raising assets globally: the good, the bad and the ugly – addressing the challenges of fundraising internationally. Are there any legal extension on LEIs?

17:00 - 19:00 120 mins
Networking Breaks
End of Day One and networking drinks reception