Institutional and Alternative Lending Conference New York 2017

8:00AM LP Breakfast

The LP breakfast will be a forum for investors to get together and discuss views on current investments, portfolio allocations, evolution of fund terms, fee structures and return expectations. Held under Chatham House rules, the breakfast forum will be an informal, interactive and informative session to learn from your peers.

9:00AM Euromoney Welcome

9:15AM KEYNOTE INTERVIEW: The future of direct lending: What do the new Presidential Administration, Brexit and growing levels of uncertainty mean for the private debt space?

• Is the industry going to see continued growth or are we in a bubble?
• To what extent does the rise of direct lending come down to the investors’ search for yield?
• Where are the next frontiers for private debt expansion?

9:45AM PANEL I: To what extent are funds competing for deals in an increasingly competitive market? Will this lead to a higher level of cooperation?

• What structures are being favoured for lending to sponsors?
• What is causing the shift away from 2^nd lien into unitranche? What different agreements exist amongst lenders in unitranche deals?
• What has contributed towards the rise of separate accounts in this space?
• Has a high level of competition contributed towards lower underwriting standards?

10:30AM Morning refreshments and networking break

11:00AM PANEL II: Institutional Investors: How are investors making allocations to the private debt space?

• What portfolios does private debt fit into for institutional investors? Are defined portfolios the way forward?
• Are strategies for smaller institutional investors changing to accommodate more allocations to this asset class?
• How does appetite for private debt differ between public and private pension funds? What other asset classes are they considering?
• Where else are investors allocating capital to diversify portfolios?

11:45AM DEBATE: Risk, returns and regulation: Does Europe offer a greater opportunity for funds to deploy capital for higher returns?

• How do the European markets differ from the US? How does risk return profile vary across Europe?
• What opportunities are there for US managers to deploy funds in Europe?
• Where in the US and European markets are we going to see convergence?
• Exploring the increase of cross Atlantic fundraising, deployment and operations

12:20PM Lunch

1:30PM DEBATE: BDCs: How sustainable are current structures?

• What can make the next generation of BDCs viable?
• How are BDCs coping with current NAVs and rising levels of debt?
• Are BDCs as transparent as they claim to be? What is being done to justify fees?

2:00PM INTERVIEW: Private Equity: What Makes for a Successful Relationship Between Sponsors and Funds?

• What do sponsors look for when deciding which fund managers to work with? How do these relationships work for those who are sponsors and lenders?
• How do offerings from direct lenders differ from what banks have traditionally provided?
• Are there enough deals in the market to deploy the huge amounts of capital raised?
• To what extent are sponsors still working with banks? How have these relationships changed over the past few years?

2:25PM INTERACTIVE PRESENTATION: How to Implement Credit Analytics, Algorithms and High-Frequency Trading into your Alternative Credit Strategy

2:55PM Coffee Break

3:25PM Target Tables: Interactive Discussions

Target Tables: Interactive Discussions
Maximum attendance of 10 seated delegates per table

Target Table A: Regulation - Chair: Elliot Ganz, General Counsel, LSTA
Target Table B: Investing in Europe - Chair: Nedim Music, Senior Vice President, Deloitte Corporate Finance
Target Table C: Returns expectations from investors - Chair: Max Bower, Journalist, GlobalCapital
Target Table D: BDC Consolidation - Chair: Charlie Corbett, Editorial Director, Euromoney Conferences

4:10PM TARGET TABLE SPOKESPERSON SUMMARIES: Each target table chair host will summarize their conclusions to the whole room

8:30AM Registration and Coffee

9:15AM Euromoney Welcome

9:25AM DEBATE: Do Funds have the Appetite to Participate in More Sponsorless Transactions? What Origination Models Work Best for these Deals?

• Why are there not a higher number of non-sponsored deals? Does it all come down to skilful origination?
• What do investors prefer?
• Why are non-sponsored deals dominated by smaller funds?
• Are non-sponsored deals better suited to the lower end of the mid-market?

10:10AM DEBATE: Diversifying the LP Base: Fundraising Trends for Private Debt Funds

• What are the options for raising capital on a global scale in the current market?
• Which investors are making allocations to the private debt space?
• How does fundraising differ on both sides of the Atlantic? What new investors are entering the market?

10:45AM DEBATE: How will the Industry Cope in the Event of a Downturn?

• Where are we in the credit cycle? How can this quantified?
• How are restructurings going to be managed in the event of a downturn?
• What structural safeguards have been put in place? Does it all come down to industry experience of teams?

11:20AM Coffee Break

11:55AM DEBATE: Exploring Lending Opportunities to Esoteric Classes: how are Players in the Market Developing into Niche Financiers?

• After technology and healthcare, what speciality sectors are going to see more focused funds?
• What risk profiles and returns do the different classes come with? What is investor appetite for lending to these classes?
• Are sector specific lenders the way forward to provide the most suitable deal structures?
• What specialist finance structures are evolving when lending across different sectors? Are certain deal structures better suited to some sectors than others?

12:20PM Lunch and Close of Conference

1:20PM LP Private Credit Workshop

Hosted by: Ryan Flanders, Head of Private Debt Products, Preqin & Sylvia Owens, Senior Portfolio Advisor, Private Credit, Aksia LLC

Who should attend: LPs and institutional investors looking to invest in the private credit market

Preqin’s investor workshop is available to any LPs and institutional investors attending the Institutional and Alternative Lending Conference, on June 27-28 2017.  It focuses on engaging with investors on private credit products currently in the market and how they can diversify portfolios whilst achieving expected returns. With a focus on allocations and manager selection, hear about:
 
 

HOW TO DIFFERENTIATE BETWEEN FUNDS IN THE MARKET?

• Categories, seniority and geography: How do they matter?
• Exploring risk and return profiles on various funds currently in the market

WHERE ARE PRIVATE DEBT ALLOCATIONS BEING MADE? 

• How are investors constructing private debt portfolios?
• How can private debt fit into growth oriented portfolios?

MANAGER SELECTION: WHAT MAKES A GOOD FUND MANAGER?

• A closer look at different investment styles, fee structures and track records
• How to access the most suitable fund managers

DUE DILIGENCE: WHAT TO LOOK OUT FOR WHEN MAKING ALLOCATIONS TO THIS ASSET CLASS?

• Issues in asset allocation, rebalancing portfolios and implementation
• Monitoring, reporting and realising targets: keeping up to date