Session Recordings
TOOK PLACE july 16 2020 | online
15:00 – 17:00 CET
INSIGHTS INTO OPPORTUNISTIC CREDIT, SPECIAL SITUATIONS & Distressed debt FUNDS AND THE MARKET OPPORTUNITY FOR INSTITUTIONAL INVESTORS
Recordings from the Sessions
presentation | dislocation Market overview
Pre session synopsis:
The global pandemic and its economic implications have brought about unprecedented need for supporting capital. The variety of managers and strategies that seek to benefit is however vast. In this presentation Trevor Casteldine provides an overview of the key private debt dislocation strategies and the considerations for investors on allocation of capital
Trevor Castledine
Panel PART 1 | Special Situations & opportunistic credit
Part one of two interlinked sessions on key dislocation strategies:
Pre-session synopsis:
With a fast-evolving global economic situation feeding the swift evolution in the spectrum of debt funds, how can investors effectively assess a multi-year illiquid opportunity? How can funds be compared when lending criteria vary? And what capabilities should you be looking for in investment managers?
Ian Milton
Founder, Mercia Capital Partners
Tim Flynn
Chief Executive Officer, HAYFIN
MATThias Unser
Founding Partner, YIELCO Investments
Trevor Castledine
Audience poll
“What are your IRR expectations for 2020/21 vintage closed end Special Situations funds?”
Panel PART 2 | Distressed debt
Part two of the interlinked sessions on dislocation strategies:
Pre-session synopsis:
With distressed debt managers holding record amounts of dry powder, will current market dislocations at last present them with the opportunity they have been waiting a decade for?
And with a raft of recent new launches, how do investors assess whether specialist distressed debt managers offer a better alternative to the many other “dislocation” plays like Opportunistic Private Credit and Special Sits?
Ian Milton
Founder, Mercia Capital Partners
DAVID LYON
Co-Head of Private Credit, Neuberger Berman
Trevor Castledine
Audience poll
“What are your IRR expectations for 2020/21 vintage closed end Distressed Debt funds?”
Interactive Discussion:
Special situations & distressed debt
due-diligence
A more informal discussion, open to other speakers to join and share thoughts.
Pre-session synopsis:
Exploring themes and questions raised in the previous two sessions, we explore how due-diligence is being affected by the current situation, both from the perspective of the investor looking to allocate and the manager looking to deploy capital.
James Ross Clark
Founder, investment Events Ltd
Sheila Pejavar Brown
Managing Director, Hayfin Capital Managment
NICOLAS POLITOPOULOS
Co-Founder, Dinimus capital
Nick Kitchin
Senior Investment Manager, Hilco captial
15:00 CET
AGENDA
Connection | Insight | Interaction
Introduction to the Forum and virtual platform
15:05
Introduction: Dislocation, distress, and opportunity
The global pandemic and its economic implications have brought about unprecedented need for supporting capital. The variety of managers and strategies that seek to benefit is however vast. In this presentation we provide an overview of the key private debt dislocation strategies looking at:
- The funds in market
- The returns being targeted
- The deployment parameters
15:15
Panel | Special Situations and Opportunistic Credit
With a fast-evolving global economic situation feeding the swift evolution in the spectrum of debt funds, how can investors effectively assess a multi-year illiquid opportunity? How can funds be compared when lending criteria vary? And what capabilities should you be looking for in investment managers?
– Defining special situations and what constitutes opportunity
– How can you maintain solid ESG principles with companies in crisis?
– Reallocation, where is the capital coming from and why?
Matthias Unser, Founding Partner and Managing Director, YIELCO Investments
Trevor Castledine, Head of Private Debt, bfinance
Ian Milton, Founder, Mercia Capital Partners
15:45
Panel | Distressed Debt
With distressed debt managers holding record amounts of dry powder, will current market dislocations at last present them with the opportunity they have been waiting a decade for? And with a raft of recent new launches, how do investors assess whether specialist distressed debt managers offer a better alternative to the many other “dislocation” plays like Opportunistic Private Credit and Special Sits?
- Defining distressed debt and the deployment criteria
- Which sectors are managers targeting and why?
- What responsibilities do managers have for negative impacts in company turn-arounds?
David Lyon, Co-Head of Private Credit, Neuberger Berman
Trevor Castledine, Head of Private Debt, bfinance
Ian Milton, Founder, Mercia Capital Partners
16:15
Interactive discussion | A Sessions YOU are encouraged to join via webcam.
Introduced by sectoral experts, get actively involved in the conversation, share thoughts with fellow attendees on dislocation strategies, the investment landscape, and the wider world.
Special situations & distressed debt due diligence
Unprecedented disruption brings opportunity, but how can and should this be addressed? What sectors are requiring the most support globally and regionally? How are moral sentiments evolving regarding generating ‘outsized returns’ from companies in crisis?
How are investor appetites for sub-strategies evolving?
Formal participants include:
Sheila Brown, Managing Director, Hayfin
Nick Kitchin, Senior Investment Manager, Hilco Capital
16:40
BYOB Session | Open networking and discussion time
Open discussion time, set up your own conversations on topics arising from the initial sessions, invite fellow attendees for one-to-one chats, or just catch up with groups of peers | Wine or beer optional!
17:00
End of Forum
Agenda subject to finalisation
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