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Key Sessions

Andrea Auerbach

Where are we in the cycle?

Cambridge Associates

08:00 08:45 (45 mins)

Main agenda

LP breakfast meeting

By Invitation Only

Open to pre – qualified pension funds, insurance companies, foundations, endowments, DFI’s and SWFs only 

08:15 09:00 (45 mins)

Main agenda

Registration

09:00 09:05 (5 mins)

Main agenda

Chair’s opening remarks

09:05 09:25 (20 mins)

Main agenda

Where are we in the cycle?

How is PE actually performing, and what should we expect in the future? 

  • Speaker Andrea Auerbach - Managing Director and Head of Global Private Investment Research, Cambridge Associates

09:25 10:00 (35 mins)

Main agenda

Getting to grips with the new normal

How do the high valuations on equity deals impact buyout transactions? What are the challenges of managing currency risk? Where are the Exits? What are the ramifications for GPs and LPs of the new normal? Will 2018 become the new 2008? Do we need to worry about the bubble bursting?


  • Panellists Russell Deakin - Managing Partner, Director of Investments & Advisory services, Aceana Group
  • Paul Martino - Managing Director , Bullpen Capital

10:00 10:20 (20 mins)

Main agenda

Topic TBC

  • Interviewer Aaron Gershenberg - Founder and Managing Partner, Silicon Valley Bank Capital
  • In conversation with Scott Kupor - Managing Partner, Andreessen Horowitz

10:20 11:00 (40 mins)

Main agenda

Subscription lines of credit: uses and abuses

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?

  • Panellists Maurice Gordon - Senior Managing Director & Head of Private Equity, Guardian Life Insurance
  • Michael Weinmann - Managing Director, CRG

11:00 11:30 (30 mins)

Main agenda

Getting on top of regulations

Regulations, carried interest, taxation and recent SEC enforcement cases

11:30 12:00 (30 mins)

Main agenda

Networking break

12:00 12:30 (30 mins)

Main agenda

Fund of Funds in the spotlight

How has the role of FoFs evolved? Analysing the performance and investor appetite for FoFs  

  • Speaker Michele Kinner - Partner & Head of US Private Equity Fund Investments, Quilvest USA

12:00 12:30 (30 mins)

Main agenda

What is the impact of GPs selling stakes in their funds?

Too hot to touch closed door session: Is this set to become a mainstream trend?

  • Facilitator Julia Feldman - Portfolio Manager - Private Equity Group, Goldman Sachs & Co

12:30 13:00 (30 mins)

Main agenda

GP value creation

How can GPs to demonstrate they create value beyond words? How can LPs learn to to diligence GPs’ efforts and results?

  • Panellists Brett Gibson - Co-Founder and Managing Partner, NextGen Venture Partners
  • Sarah Bradley - Partner, Kainos Capital

12:30 13:00 (30 mins)

Main agenda

Diversity issues in private equity and venture capital

Too hot to touch closed door session

  • Facilitators Trey Hart - Senior Vice President, Northern Trust

13:00 14:00 (60 mins)

Main agenda

Networking lunch break

14:00 14:15 (15 mins)

Track A: Venture & Tech

The Early VC Index

Survey of 100 VCs on AI, IOT, AR

  • Speaker Brian Smiga - Partner, Alpha Venture Partners

14:00 14:45 (45 mins)

Track B: Private Credit and Distressed Debt

Direct lending: fundraising and investor outlook

  • Within the direct lending sector, how is investor interest divided between senior lending, unitranche and some subordinated debt exposure?
  • Are LPs becoming more concerned about returns in the current environment?
  • Does the return of covenant light structures signal a coming market peak?
  • Will banks return to parts of the market?
  • Panellists Mark Perry - Managing Director, Wilshire Associates

14:00 14:01 (1 mins)

Track A: Venture & Tech

Chair’s opening remarks

  • Track Chair Chris Douvos - Managing Director, Venture Investment Associates

14:45 15:15 (30 mins)

Track A: Venture & Tech

Technology Buyouts: why are they so hot, and will the trend continue?

Examining the biggest tech transcations. What makes the tech byout hot? What does the future hold? 

  • Panellists Peter Spasov - Partner, Marlin Equity Partners
  • Ronan Cunningham - Managing Director, Spectrum Equity

14:45 15:15 (30 mins)

Track B: Private Credit and Distressed Debt

Mezzanine: where is its place in the current market?

Are sponsored or non-sponsored strategies more favored by investors? Is some exposure to common equity necessary to deals? How interested are investors in fund level leverage?

  • Speakers Maurice Gordon - Senior Managing Director & Head of Private Equity, Guardian Life Insurance

15:15 15:45 (30 mins)

Main agenda

Networking break

15:45 16:00 (15 mins)

Track A: Venture & Tech

Opportunity funds in the spotlight

Why do so many early-stage venture funds raise separate opportunity funds? What is the downside and an upside associated with these funds? How helpful or hurtful are they to LP's? 

  • Speakers Ken Wallace - Managing Director, Industry Ventures

15:45 16:15 (30 mins)

Track B: Private Credit and Distressed Debt

Investing in innovative and uncorrelated strategies

  • Royalty and royalty collateralized funds – how are they different?
  • Venture debt – is it truly a debt strategy?
  • Real estate and infrastructure debt funds – not directly correlated to PE but are they attractive?
  • Moderator Heinz Blennemann - Principal, Blennemann Family Investments
  • Panellists Tingting Zhang - Founder & President , Terra Cotta Group
  • Agustin Araya - Partner , Cordillera Investment Partners

16:00 16:15 (15 mins)

Track A: Venture & Tech

Corporate VC – a growing force in venture business

16:15 16:45 (30 mins)

Track A: Venture & Tech

Is Silicon Valley becoming too expensive?

Too hot to touch closed door session: Do you diversify geographically and do venture outside of Silicon Valley? 

  • Facilitators Ben Choi - Managing Director, Legacy Venture
  • Ryan Armbrust - Managing Director, ff Venture Capital
  • Cindy Padnos - Founder & Managing Partner, Illuminate Ventures

16:15 16:45 (30 mins)

Track A: Venture & Tech

Emerging LPs in venture and tech

  • Who are the LP types that are driving the increase in fundraising?
  • How do LPs think of venture today?
  • What is the impact of crowdfunding?
  • The growing importance of non-US LPs 
  • Moderator Winter Mead - Vice President, Sapphire Ventures
  • Panellists Bill Malloy - Founding General Partner, Sway Ventures
  • Erik Lassila - Managing Partner, Peakview Capital

16:15 16:45 (30 mins)

Track B: Private Credit and Distressed Debt

Distressed debt investing

  • Are investment opportunities heavily dependent on the market cycle, and where do we stand now?
  • Do middle market companies (and funds focused on the middle market) present an entirely different environment?
  • With the current level of competition, how easy is it the execute “loan-to-own” strategies?
  • Panellists Stuart Blair - Director of Research, Canterbury Consulting

16:45 17:30 (45 mins)

Track A: Venture & Tech

Tech roundtable discussions

Table 1: Blockchain, cryptocurrency and Fintech

Table 2: AI and AR

Table 3: Robotics

Table 4: Biotech and Healthcare tech

  • Facilitators Steve Kuyan - Managing Director, NYU Future Labs
  • Sean O’Sullivan - Founder and Managing Director, SOSV
  • Eric Wiesen - General Partner, Bullpen Capital
  • Bill Malloy - Founding General Partner, Sway Ventures

16:45 17:30 (45 mins)

Track B: Private Credit and Distressed Debt

Special Situations and Opportunistic Credit

Special situations funds tend to invest in distressed debt, but also in companies under stress – how different are opportunities in this sector and do they provide more steady deal flow? Opportunistic Credit strategies can invest outside corporate debt – in such areas as whole loan portfolios, busted asset-backeds, and bankruptcy claims – how differentiated are opportunities here?

  • Moderator Kelly DePonte - Managing Director , Probitas Partners
  • Panellists Curt Futch - Managing Partner , Jupiter Peak Capital

17:30 18:30 (60 mins)

Main agenda

End of Day One and networking drinks reception