New York - Agenda

At a time where our asset class is hitting the headlines, hear from the PDI New York advisory board as they cut through the noise to make sense of where private credit stands 

 

Moderator: Andy Thomson, Senior Editor, Private Debt Investor

 

Clare Burrows, Managing Director, Prosek Partners

Michael Chimento, Principal & Senior Investment Director, Ballentine Partners

Jillien Flores, Chief Advocacy Officer, MFA

• Beyond the headlines – how are managers and investors responding to negativity surrounding the asset class? Is it contained to the BDC market/retail investment?  

• Systemic risk or simply market maturation? Assessing the conflicting opinions about the state of private credit 

• Navigating the minefield of higher interest rates, more defaults and lower leverage 

• Reasons for optimism: ABL, secondaries, 401k encouragement and more  

 

Moderator: Gabriel Yomi Dabiri, Global Head of Private Credit & Direct Lending, Squire Patton Boggs

 

Rob Douglass, Chief Credit Officer, Private Credit, Apogem Capital

Lori Pomerantz, Managing Director, Global Head of Business Development – Private Credit, Partners Group

Jennie Rose, Head of American Private Credit, AustralianSuper

• How has recent market noise strengthened asset-based finance’s position in the private debt hierarchy?  

• Where are investors finding value?  

• How are GPs ensuring their underwriting is robust enough in this ever-evolving area of the market?

 

Moderator: Gurvinder Singh, CEO, Indus Valley Partners

Jamil McNeil, Director of Investments – Private Markets, True North Advisors

Siddarth Sudhir, Managing Director, RockCreek

• How are direct lending funds performing through current market turbulence?  

• How can fund managers differentiate themselves in a market that is experiencing increasing bifurcation? Will the mid-market continue to come to the fore?  

• How is it standing up to other private credit strategies?  

• Have there been lessons learnt for private credit funds when it comes to expectations around liquidity provision for investors? If so, what are they?  

• Amidst tales of redemption gating and more, what are funds doing to ensure LPs are encouraged to keep investing in semi-liquid private credit funds? Is more transparency the long-term answer?  

• How will this affect the LP-base in the US private credit market? Will retail investors retreat? 

 

Moderator: Oran Ebel, Partner, Davis Polk

Tod Trabocco, Managing Director, StepStone Private Debt

• Assessing why investors are turning increasingly to both LP and GP-led secondary strategies in the current climate 

• Solving the liquidity ‘crisis’? How secondaries are set up to reassure LPs 

• Downside protection, stability and more – how can managers position themselves to thrive with this strategy of the moment? 

 

Marco Busca, Head of Indirect Private Debt, Generali Asset Management

Francis Griffin, Head of Private Credit, Callan

• At this stage of the credit cycle, how are mid-market managers continuing to provide value?  

• Upper, lower, sponsored, non-sponsored… key considerations and characteristics across the mid-market 

• What does the next 12 months hold for the North American mid-market?  

 

Moderator: Kristin Mott, Founder/Managing Partner, Amberlake Capital

 

Adam T. Wise, Head of U.S. Portfolio Management, Manulife/John Hancock

• Examining infrastructure debt’s key characteristics that has seen it surge in popularity for North American LPs 

• Defence, energy, transport, data centres – evolving opportunities across an asset class pushing the boundaries 

• Is the mid-market the place to find value in infra debt? Or elsewhere?  

 

Mehdi Khalili, Portfolio Manager, Legal & General

• Why does North American private debt investment still represent the best opportunity for investors? Capitalising on opportunities amidst volatility  

• Looking beyond software - which sectors in the US are particularly ripe right now?  

• Reality check - how the market stacks up against other regions 

• After some notable fund raises and closes in H1, are we entering a favourable environment for opportunistic credit?  

• Why LPs are turning to this strategy in the search for optimum portfolio efficiency  

• What will the current issues in the software sector add to an already active distressed debt market?   

• How can opportunistic credit open up avenues in a burgeoning ABL market?  

• How is NAV financing reshaping liquidity management in the current environment? Can a blend with secondaries work for investors seeking more liquidity?  

• LP sentiment and education around risk-return profiles in fund financing – how is this shaping up?  

• Further considerations – regulatory shifts, hybrid structures, underwriting challenges and much more 

• How are banks handling their exposure to fund financing?  

In this case-study driven workshop, our leaders will delve into the evolving role of asset‑based finance within the private credit ecosystem. Themes explored will include how lenders are structuring ABF facilities in the current higher‑rate environment; the types of collateral driving deal flow; the operational and underwriting processes that can prove to be key differentiators; and what current credit market conditions mean for ABF strategies. 

• Which strategies are proving most popular with LPs right now?  

• Are we seeing a shift away from the US towards other regions?  

• How do LPs see their role within private credit evolving, in the face of current challenges and market conditions for the asset class?  

 

Moderator: Michelle Noyes, Managing Director, Head of Americas, Alternative Investment Management Association (AIMA)

 

Matt Maleri, Partner, Head of Insurance, NEPC

Sanford Rich, Executive Director, NYC Board of Education Retirement System

• Examining how global conflicts, geopolitical volatility and the wider macro environment is impacting the private credit market  

• Myth or fact – are investors shifting priorities from the US to Europe in response to North American geopolitical factors?  

• How can current challenges be turned into opportunity for investors in private credit?  

 

Ryan Sweet, Chief Global Economist, Oxford Economics