AIC

Agenda

 

Thursday, May 12

8:00 AM-8:45 AM

Check In & Breakfast – Colonnade

8:45 AM-9:00 AM

Welcome – Hill Ballroom

 
SPEAKER

Greg Brown

Prof. – UNC Chapel Hill; Research Director, Institute for Private Capital
9:00 AM-11:00 AM

Keynote Addresses – Hill Ballroom

ESG Investing Considerations in 2022

 
SPEAKER

Laura Starks

Professor, Finance, McCombs School of Business

The New Era of Private Equity

 
SPEAKER

Davis Noell

Senior Managing Director, Providence Equity Partners

Digital Assets: A Cynically Enthusiastic Approach

 
SPEAKER

John D’Agostino

CEO, Dagger Consulting
11:00 AM-11:30 AM

Break – Colonnade

Networking

11:45 AM-12:50 PM

The Current VC Landscape: Fireside Chat (Luncheon) – Chancellors’ Ballroom

 
KEYNOTE ADDRESS

Scott Kupor

Managing Partner, Andreessen Horowitz

Maryam Haque

Executive Director, Venture Forward
1:00 PM-1:50 PM

Session I

Panel Discussion IA: Responsible Investing - Hill South

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, and many look to private capital to be the area of the market where ESG efforts may be especially impactful. This panel will explore a range of topics related to the adoption of ESG investing programs.

Additional speakers TBA

 
PANELISTS

Jeff Cohen

Managing Director, Head of ESG & Sustainability, Oak Hill Advisors

Kimberly Evans

Senior Vice President, North America Head of Private Capital Services, Northern Trust

Panel Discussion IB: Infrastructure - Hill North

Increased government spending combined with the search for stable returns and recurring yield in a rising interest rate environment has prompted investors to steadily increase their allocations to infrastructure over the last ten years. This has contributed to growth in the private infrastructure market. Significant capital is being invested to revitalize aging infrastructure and adapt to cope with more volatile climatic events, increase efficiency and reduce wastage. This panel 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.

 
MODERATOR

Dominic Garcia

Chief Pension Investment Strategist, CBRE Investment Management
 
PANELISTS

Recep Kendircioglu, CFA, FRM

Portfolio Manager, Head of Infrastructure Investments, Manulife Investment Management

Edward Keith

Partner, Landmark Partners, an Ares Company

TJ Carlson

CIO, Missouri State Employees’ Retirement System

Roundtable Discussion I: Private Equity - Hill Central

The private equity investment environment remains highly competitive, with valuations near the upper end of historical ranges driven by large capital inflows, a robust return environment, the pace of technology adoption and a relatively stable global economy. However, rising inflation and rising interest rates, coupled with policy and geopolitical uncertainties pose significant challenges looking forward. Against this backdrop, our roundtable will discuss the implications for private equity investors, aiming to develop appropriate tactical responses for investment portfolios.

Additional speakers TBA

 
MODERATOR

Pete Witte

Associate Director, Private Equity, Ernst & Young
 
PANELISTS

Barry Griffiths, PH.D., CFA

Partner and Head of the Quantitative Research Group, Landmark Partners, an Ares Company

Davis Noell

Senior Managing Director, Providence Equity Partners

Tobias True, CFA, FRM

Partner, Investment Strategy and Risk Management, Adams Street

Lauren Mulholland

Founding Partner, MiddleGround Capital

Ted Rosenwasser

Partner, Trilantic North America

Craig Demko

Director of Private Equity, NC Dept. of State Treasurer
1:50 PM-2:00 PM

Break – Colonnade

Refreshments available

2:00 PM-2:50 PM

Session II

Panel Discussion IIA: Evolution of the Secondary Market - Hill South

The secondary market is evolving rapidly, with pools of investments in private equity, real estate, real assets, infrastructure, and credit coming to market and investor appetite rising to meet demand.  While secondary private markets have consistently grown over the last twenty years, the global pandemic catalyzed investor appetite resulting in a record high of over $130 billion in transaction volume in 2021.  Within this market, GP-led secondary transactions have emerged as a major driver of secondary activity.  Single and multi-asset continuation vehicles along with stapled-tender offerings resulted in over $60 billion of transaction volume last year, which is anticipated to more than double in 2022.  Join our panel to discuss the implications of these trends for institutional investors.

 
MODERATOR

Daniel Murphy

Managing Director, Goldman Sachs
 
PANELISTS

Garrett Hall

Managing Director, AlpInvest

Paul Sanabria

Global Co-Head of Secondaries, Manulife Investment Management

Rajesh Senapati

Managing Director, HarbourVest

Panel Discussion IIB: Venture Capital - Hill North

2021 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 a subset of 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 VCs. The question remains of whether the venture industry has reached a new normal or a peak ahead of a cooling off period. Join this session to review emerging themes for VC investing for 2022, and the years to come.

Additional speakers TBA

 
MODERATOR

Mitch Mumma

Managing General Partner, Intersouth Partners
 
PANELISTS

David Jones

General Partner, Bull City Venture Partners

Allen Moseley

Managing Partner, Noro-Moseley Partners

Karen LeVert

Venture Partner, Pappas Capital

Roundtable Discussion II: Real Assets - Hill Central

Allocations to real asset investments – including real estate, natural resources and agriculture, among others, have been increasing as investors sought attractive total returns over the long term, while maximizing the potential for real returns in periods of rising inflation. The current inflationary environment, political uncertainty, housing affordability, technology disruption and climate change all pose threats and potential opportunities to a diversified portfolio. Join our roundtable to review strategies for positioning institutional investor portfolios using real assets.

Additional speakers TBA

 
MODERATOR

Mark Corigliano

Private Capital Team Head, DUMAC
 
PANELISTS

Tony Cascio

Managing Director and Deputy Chief Investment Officer, Timberland, Manulife Investment Management

Trey Dempsey

Partner, Silvercap Partners

Troy March

Director of Real Estate, NC Department of State Treasurer

Charlie McNairy

CEO, International Farming Corporation

Michael Brand

Managing Director, Cambridge Associates

David Chattleton

Founder and Managing Partner, Tiverton Advisors

Laurence Gottlieb

Chairman and CEO, Fundamental Advisors

Hadley Peer Marshall

Managing Partner, Infrastructure, Brookfield Asset Management
2:50 PM-3:00 PM

Break – Colonnade

Refreshments available

3:00 PM-3:50 PM

Session III

Panel Discussion IIIA: The Macro Outlook - Hill South

From global supply chain disruptions to decade-high inflation, from soaring commodity prices to geopolitical instability… the investing outlook across all asset classes seems more volatile than ever. How should investors think about risk and return in the current environment? How might traditional investment strategies evolve in the face of rapid changes to the macro landscape?  Join our panel of investors and managers in discussion of these questions and more.

 
MODERATOR

Narayan Y. Naik

Professor of Finance, London Business School
 
SPEAKER

Jeffrey Palma

SVP, Head of Multi-Asset Solutions, Cohen & Steers

Andrew Patterson

Senior Economist, Vanguard

Glenn Jacobson

Managing Partner, Greenbelt Capital Partners

Panel Discussion IIIB: Trends in Lower Middle Markets - Hill North

Despite significant capital inflows and increased competition in the large and middle-market buyout space, the lower middle market investment space (<$10mm of EBITDA) has remained more insulated from the intense competition and higher valuations.  Market fragmentation, lack of institutional capital backing, and less access to debt have provided sustainable barriers to entry.  However, investors must balance the advantages of investing in this market with certain inherent risks often present–less developed management teams, risks to exogenous shocks, customer concentration, etc.  Join our panelist discussion to consider the opportunities inherent in investing in the lower middle market.

 
MODERATOR

Brett Palmer

President, Small Business Investor Alliance
 
PANELISTS

Katie Walker

Principal, Plexus Capital

David Demeter

Investment Director, Davidson College

Lester Alexander

Partner, Jefferson Capital

Roundtable Discussion III: Credit Strategies - Hill Central

Demand for private debt remains high, with some estimates suggesting that 2021 was the second-highest annual fundraising total on record. Private debt has become the third largest private market strategy supported by positive macro factors such as negative real rates and accommodative monetary and fiscal policy. With those factors set to reverse, and increased volatility in capital markets, will the positive trends seen in this sector continue? Our roundtable will discuss the implications for private credit investors, and strategies for positioning portfolios for a late-cycle environment.

Additional speakers TBA

 
MODERATOR

Lynn O’Connell

Senior Portfolio Advisor, Aksia
 
PANELISTS

Alex Wright

Partner, Co-Head of Credit Product, Apollo

Andreas Dische

Senior Investment Officer, New York State Common Retirement Fund

Sean Hickey

Vice President, White Oak

Frank Jordan

Partner, Head of Client Partnership Group, Crestline Investors

Michael Becker

Partner, Plexus Capital

Jordan Peer

Executive Managing Director, HIG Capital
3:50 PM-4:00 PM

Break – Colonnade

Refreshments available

4:00 PM-4:30 PM

Keynote #5 – Chancellors’ Ballroom

 
SPEAKER

Ruulke Bagijn

Head of Global Investment Solutions, Carlyle; Chair of the Board, AlpInvest
4:30 PM-5:30 PM

Roundtable Discussion IV: CIO Discussion – Chancellors’ Ballroom

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 CIOs to discuss the key themes that are driving investment decisions across the portfolio.

 
MODERATOR

Michael Elio

Partner, StepStone
 
PANELISTS

Ruulke Bagijn

Head of Global Investment Solutions, Carlyle; Chair of the Board, AlpInvest

Brad Briner

Co-Chief Investment Officer, Willett Advisors

TJ Carlson

CIO, Missouri State Employees’ Retirement System

Dominic Garcia

Chief Pension Investment Strategist, CBRE Investment Management

Jonathon King

President and CEO, UNC Management Company

Jason Morrow

Deputy Chief Investment Officer, Utah Retirement Systems
5:30 PM-6:30 PM

Cocktail Reception – Hill Courtyard

 
 

INSTITUTE FOR PRIVATE CAPITAL

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.

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