Networking
Refreshments Available
Increasingly, data-driven discussions continue to support that diversity within the alternatives industry delivers higher returns on investment. However, current statistics on diversity within alternatives reveal a substantial gap persists. As boardrooms and managers recognize the need to close the gap, companies are implementing programs and strategies to adopt diversity in senior leadership. But is it happening fast enough? What actions can each stakeholder take to accelerate the inclusion of diversity? The panel will discuss the overall findings, current strategies and best practices for integrating diversity across the alternatives industry.
The private equity investment environment remains highly competitive, with valuations near the upper end of historical ranges driven by large capital inflows, a benign rate environment, the pace of technology adoption and a relatively stable global economy. However, the maturity of the current economic expansion coupled with policy and geopolitical uncertainties pose significant challenges looking forward. Public market performance has been exceptional recently, but private equity has continued to outperform over the long-term. Against this backdrop, our roundtable will discuss the implications for private equity investors, aiming to develop appropriate tactical responses for investment portfolios.
Refreshments Available
Environmental, Social and Governance (ESG) is a generic term used to describe the non-financial performance and risk factors that allow investors to evaluate corporate behavior and the impact of these factors on public and private markets investments. Responsible investing spans a range of objectives with one end of the spectrum focusing on maximizing risk-adjusted returns “Socially Responsible Investing” to the other end, “Impact Investing” which prioritizes ethical considerations linked to a social outcome. Increasingly, managers are focusing on responsible investing as part of their investment process as institutional investors make responsible investing a priority. This panel will explore a range of topics related to pension and endowment fund adoption of ESG investing programs.
Refreshments Available
The search for stable returns and recurring yield in a low interest rate environment has prompted investors to steadily increase their allocations to infrastructure over the last ten years. This has contributed to a significant expansion of the private infrastructure market. Global initiatives to reduce carbon emissions are resulting in local actions to support the continued development of renewable energy. Additionally, significant capital is being spent to mitigate the effects of climate change and adapt infrastructure to cope with more volatile climatic events, increase efficiency and reduce wastage. This is driving near-record rate base growth across the sector. However, asset valuations are near all-time highs, and in some cases, may have decoupled from fundamentals. We will examine the global outlook for infrastructure investments with a focus on identifying the segments of the market and places in the capital structure that represent the best opportunities for outsized returns going forward.
2019 was another record year for VC investing worldwide on both a deal and dollar volume basis. While the pace of deal-making accelerated, the capital is increasingly concentrated in the hands of fewer players. Fewer players with larger funds are making larger investments at higher valuations and exits. Despite several high profile IPO underperformers, investors continue to realize distributions at an accelerated pace and are redeploying the capital back into the industry. Emerging technologies have disrupted traditional industries and created new ones as a result of capital allocations and guidance from VC’s. The question remains of whether the venture industry has reached a new normal or a peak ahead of a cooling off period. Join our session to review emerging themes for VC investing in 2020.
Despite signs of slowing global growth and rising volatility in capital markets, demand for private debt is high due to attractive risk adjusted returns across managers since recession. In 2019, the credit market continued to be borrower-friendly due to high levels of unfunded commitments. As a result, loan documentation in many parts of the market has weakened, with high levels of covenant-lite structures in the syndicated space and in some cases, the middle-market. In this environment, underwriting discipline and access to attractive transactions remain key. Strong sponsor relationships to help source transactions and / or direct-sourcing origination platforms, combined with robust underwriting and the ability to provide comprehensive, tailor-made financing solutions at an appropriate risk-adjusted pricing, are important differentiators. Our roundtable will discuss the implications for private credit investors and strategies for positioning portfolios for a late-cycle environment.
Refreshments Available
With late-cycle indications on the horizon, how have the key risks and opportunities across sectors impacted asset allocation decision making? What key concerns are most frequently voiced from their constituents regarding portfolio investment strategy and performance? Join our roundtable of leading US CIO’s to discuss the key themes that are driving investment decisions across the portfolio.
The Institute for Private Capital improves public understanding of the role of private capital in the global economy. Academic and industry experts work together to generate new knowledge about private capital markets based on objective academic research.