FFA Event

12th Annual Global Fund Finance Symposium

Name: 12th Annual Global Fund Finance Symposium
Start: 2023-02-08T00:00:00Z
End: 2023-02-10T00:00:00Z
Location: Fontainebleau

February 08 - 10, 2023

MIAMI BEACH, FL

Event Pictures

The Fund Finance Association’s annual symposiums bring together investors, fund managers, bankers and lawyers for education and networking within the fund finance market. FFA hosts annual events in Miami, London, and Asia. The 2022 Symposiums were attended by over 1,700 industry professionals representing over 500 firms.

Agenda as of 01-09-2023. Subject to change.

Francois Aguerre

Coller Capital

First Mover Founders Panel

10:20 AM | 2023-02-10

Francois Aguerre

Partner, Co-Head of Investment | Coller Capital

As Co-Head of Investment, and Head of Origination, Francois has joint responsibility for our investment team and investment process globally. He is based in the firm’s London office, and also co-chairs the DEI Committee.

Prior to joining Coller Capital in 2007, Francois worked in the Investment Banking division of UBS in London. Previously, he worked at Gimar Finance and PAI Partners in Paris, and at Société Générale in New York.

Francois has an MSc in Engineering from École Nationale des Ponts et Chaussées in France, and an MBA from INSEAD.

Hugh Anderson

Walkers

Market Evolution & Industry Perspectives

11:20 AM | 2023-02-09

Hugh Anderson

Partner | Walkers

Hugh Anderson is based in the Walkers' Cayman Islands office where he is a partner in the firm's Global Finance and Corporate Group.

Hugh specialises in corporate and finance transactions with extensive experience in subscription finance, hedge fund finance, mergers and acquisitions, IPOs, as well as banking and securities investment business regulatory matters. Hugh acts for lenders, borrowers, sponsors on a broad range of finance and corporate transactions including capital call facilities, NAV facilities, acquisition financings, asset based facilities, and complex cross border and syndicated credit facilities. Hugh also acts for corporates on mergers and acquisitions, public listings, joint ventures, corporate restructurings and venture capital investments. Hugh's clients include international banks, financial institutions and asset managers.

Prior to joining Walkers, Hugh worked in the finance group of Minter Ellison in Melbourne, Australia where he advised on a variety of corporate finance, acquisition finance and debt restructuring matters.

Ana Arsov

Moody's Investors Service

New Suppliers of Capital in Fund Finance

1:40 PM | 2023-02-09

Ana Arsov

Managing Director, Global Head of Private Credit, and Global Co-Head of Financial Institutions | Moody's Investors Service

Ana Arsov is a Global Managing Director, co-heading the global banking rating franchise for Moody’s Investor Service which includes rating coverage for banks, securities firms, specialty finance and market infrastructure and directly oversees the ratings for non-Insurance, Financial Institutions issuers for North America. Ana joined Moody’s in 2013 with an extensive experience in analyzing financial institutions and managing credit professionals. Prior to her senior management role, Ana was the Managing Director responsible for the rating coverage for global investment banks, securities firms and specialty finance ratings. Ana is also a coauthor of Moody's rating methodologies for finance companies, securities firms and clearing houses, and also led the development of Moody's counterparty risk rating. Prior to Moody’s, Ana gained extensive experience in credit risk management at several large banks including as Executive Director in Credit Risk, responsible for financial institutions including North American banks, broker dealers, exchanges and clearinghouses for UBS. Also, she was Head of Global Portfolio Management-Credit Risk Management at Morgan Stanley, focusing on comprehensive coverage, identification and analysis of risks across the firm’s trading and lending businesses as well as leading key risk management initiatives for Morgan Stanley Bank N.A. Ana began her career in Credit Risk Management at Lehman Brothers in various credit risk roles, ultimately heading up the North American Financial Institutions and Structured Finance team, and subsequently worked on Lehman’s bankruptcy resolution. Ana holds a master’s degree in Management (with a specialization in Financial Services and Banking) from Boston University, and a bachelor’s degree in Business from Pace University, New York. Ana also holds certificate on board governance from Harvard Business School.

Nancy Becker

Wells Fargo Bank

Syndication Update

1:40 PM | 2023-02-09

Nancy Becker

Managing Director | Wells Fargo Bank

Nancy Becker is a Managing Director and head of Loan Syndications for the Fund Finance Group at Wells Fargo. Nancy is responsible for the distribution of subscription credit facilities and other fund-level financing for private equity funds. Nancy joined Wells Fargo in 2012 from Credit Suisse, where she spent 6 years in asset backed securitization. Prior to Credit Suisse, Nancy held various roles in loan syndications and structured credit at WestLB. Nancy has a Bachelor of Business Administration in Finance from Loyola University and is a CFA Charterholder.

Pallo Blum-Tucker

State Street

Fund Finance Market Update, ESG and Macro Developments

2:50 PM | 2023-02-09

Pallo Blum-Tucker

Managing Director, Head of Alternative Lending | State Street

Pallo Blum-Tucker joined State Street in 2013. Pallo is a Managing Director who manages the Alternatives Lending Team within Fund Finance within the Global Credit Finance division of State Street. Pallo currently runs the Global Capital Call (Subscription Finance) business, along with FOHF lending, and has previously run the Private Credit, CLO, and Corporate, Insurance & Investment Advisor lending portfolios. Prior to this role, Pallo was a portfolio manager and trader for the Leveraged Loan Team; he had oversight of both the US and European leveraged loan portfolios.

Previously, Pallo served as a Senior Corporate Credit Analyst for both the Investment Grade and Leveraged Loan teams covering Technology, Services, Autos and Financials. Pallo worked at Silvermine Capital Management from 2011 - 2013 prior to joining State Street, primarily investing in Leveraged Loans for Silvermine's CLO portfolios where he covered the Technology, Services, Transportation, and Paper and Packaging sectors. Pallo worked at Aladdin Capital Management from 2006 - 2011 where he invested in Leveraged Loans and High Yield Bonds in both CLO and Separate Account portfolios, covering sectors including Telecom, Retail, Gaming, Services, and Financials.

Pallo started his career in finance in 2000 with State Street Research & Management, for a combined 21 years of experience in finance, with a BA with College Honors from the University of Vermont and an MBA from Cornell University.

Jonathan Bock

Blackstone Credit

Titans in Finance – The Rise of Private Debt!

10:00 AM | 2023-02-09

Jonathan Bock

Senior Managing Director, Co-CEO of BCRED and BXSL, Head of Market Research | Blackstone Credit

Prior to joining Blackstone, Mr. Bock was the Chief Executive Officer of Barings BDC. In addition to this role, he served as the Co-Chief Executive Officer and President of Barings Private Credit Corporation, and Chief Financial Officer of Barings Capital Investment Corporation, Barings Corporate Investors, and Barings Participation Investors. Prior to joining Barings in July 2018, Mr. Bock was a Managing Director and Senior Equity Analyst at Wells Fargo Securities specializing in Business Development Companies (BDCs). He was the chief author of a leading BDC quarterly research publication: the BDC Scorecard. He is also published in the Journal of Alternative Investments. Prior to Wells Fargo, Mr. Bock followed the BDC industry at Stifel Nicolaus & Company and A.G. Edwards Inc. Prior to entering sell-side research in 2006, Mr. Bock was an equity portfolio manager/analyst at Busey Wealth Management in Champaign, Illinois.

Michelle Bolingbroke

Fund Finance Association

Closing Remarks Friday

11:10 AM | 2023-02-10

Michelle Bolingbroke

Chief Marketing Officer | Fund Finance Association

Michelle Bolingbroke, Chief Marketing Officer (CMO) and Head of Marketing and Business Strategy, brings over 18 years of experience in marketing and business development within the financial services industry. Michelle has played a crucial role in shaping the association initially as a volunteer on the marketing committee since our inception. In her elevated role, as a key member of the executive team, Michelle collaborates with the Chief Operating Officer (COO) to drive the organization's strategic goals. As CMO, she oversees external communications, establishes strategic partnerships, and promotes the association's brand globally. Michelle continues to be a driving force behind the Fund Finance Association's growth and success.

Todd Bundrant

Mayer Brown

NAV, Hybrids and Preferred Equity

11:20 AM | 2023-02-09

Todd Bundrant

Partner | Mayer Brown

Todd Bundrant is a partner in Mayer Brown’s Banking & Finance practice. He represents financial institutions, investment funds and corporate borrowers in a variety of secured and unsecured finance transactions. Todd has extensive experience representing both lenders and borrowers in transactions involving private equity funds, credit funds and other alternative lenders seeking to expand and/or leverage their portfolios. These transactions include subscription-backed credit facilities, NAV facilities, hybrid credit facilities, repurchase facilities, bi-lateral loans and other acquisition financing arrangements. He also has a strong background representing major US and foreign banks as lead agent and arranger in syndicated credit facilities, as well as
restructuring various types of lending arrangements.

Todd works on structures involving a variety of non-standard collateral, including private equity fund interests, hedge fund interests, capital contribution obligations, management and incentive fee streams and asset- backed securities. His experience also includes representation of private equity sponsors, real estate investors and developers in a variety of commercial real estate transactions, including joint ventures, acquisitions and dispositions involving a broad range of assets such as retail centers, industrial parks, apartment complexes, condominiums, assisted living facilities and single family residential developments, as well as restructuring financing arrangements related to all of the above.

Juan Campos

Hg Capital

NAV, Hybrids and Preferred Equity: An International Perspective

2:50 PM | 2023-02-09

Juan Campos

Partner | Hg Capital

Juan is a Partner at Hg and a member of the Capital Markets team. He also sits on Hg’s Realisation Committee. Juan brings over 15 years of capital markets experience, having served in Sponsor financing capacities in New York and London.

Prior to Hg, Juan was the Head of Capital Markets at Lone Star Funds where he was responsible for the capital market activities of the private equity efforts in Europe. Previously, Juan spent over a decade in the Investment Banking Division at Goldman Sachs, both in New York and London, where he focused on leveraged finance sponsor transactions. He led a large number of complex sponsor financings across a wide range of sectors, having completed over 100 transactions during his career.

He holds a Diplom-Kaufmann (MBA) degree from WHU – Otto Beisheim School of Management and a Masters of Science in Financial Mathematics from New York University. He speaks Spanish, German and English.

Sara Casey

AB Private Credit Investors

NextGen Update

10:00 AM | 2023-02-09

Sara Casey

Director | AB Private Credit Investors

Sara Casey is a Director with AB Private Credit Investors, where she is one of the initial senior team members involved in the development of the NAV Lending strategy. Her responsibilities include deal sourcing, structuring, underwriting and execution, and portfolio management. Prior to joining AB in 2023, Casey was a Principal at Hark Capital, where she sourced and executed NAV loans. Prior to Hark Capital, she was an Associate at Wells Fargo Securities. Casey is a member of the Fund Finance Association’s NextGen Committee and was the Fund Finance Association’s 2023 NextGen Member of the Year. She holds a BS in finance from Providence College.

Kathryn Cecil

Fried, Frank, Harris, Shriver & Jacobson (London) LLP

Day 2 Opening Remarks

9:00 AM | 2023-02-10

Kathryn Cecil

Partner | Fried, Frank, Harris, Shriver & Jacobson (London) LLP

Kathryn Cecil is a Partner in the Corporate Department and the Finance Practice, resident in Fried Frank's London office. Ms. Cecil advises fund sponsors and financial institutions on the full spectrum of fund finance transactions including subscription, asset-backed, NAV and preferred equity across all asset classes and fund structures. Kathryn also has extensive experience advising on complex leveraged finance transactions and financial restructurings.

Matthew Chase

Latham & Watkins LLP

Fund Manager Developments

1:40 PM | 2023-02-09

Matthew Chase

Partner | Latham & Watkins LLP

Matthew J. Chase advises both established and emerging sponsors and asset managers on the formation, management, and operation of private funds.

A pragmatic and creative problem solver, Mr. Chase supports clients throughout the entire lifecycle of a fund. He regularly represents sponsors in the formation and structuring of US and global private investment vehicles, including buyout funds, credit and other debt funds, energy and infrastructure funds, growth and venture capital funds, and co-investment funds.

Mr. Chase’s practice includes:

Fund formation
Formation of sponsors and internal sponsor arrangements
GP-led secondary transactions
Co-investments
Portfolio company investment and exit structuring
Separately managed accounts and special purpose investment vehicles

Mr. Chase focuses on client objectives while maintaining strong, collaborative relationships among sponsors and investors. He brings particular experience representing new and emerging managers, including in connection with the formation of debut funds and strategies.

Mr. Chase also advises institutional investors in connection with their fund investments and related transactions.

Bryan Cohen

Validus Risk Management

FX & Interest Rate Risk Considerations for Fund Managers

11:20 AM | 2023-02-09

Bryan Cohen

Managing Director, Head of North American Client Coverage | Validus Risk Management

Bryan has over 15 years’ experience across risk management and derivatives. At Validus, Bryan is responsible for leading the firm’s client coverage in North America, including risk advisory and client relationship teams in New York and Toronto. Prior to joining Validus, he managed risk strategy and hedge execution for Goldman Sachs Merchant Banking Division’s funds and portfolio companies. Before Goldman Sachs, he worked in risk solutions groups at Barclays and RBS covering corporates and financial sponsors.

Bryan has a B.S. in Industrial Engineering and Economics from Northwestern University and is a CFA® charterholder.

Steven J. Colombo

Goldman Sachs Asset Management

The Evolving Lender Landscape & Impacts on Balance Sheet Management

11:20 AM | 2023-02-09

Steven J. Colombo

Managing Director | Goldman Sachs Asset Management

Steve is a managing director within Goldman Sachs Asset Management, where he leads the team responsible for fund financing activity across the business, including the origination, structuring and execution of all financing arrangements. Steve also manages all lending relationships, and has shared oversight of business terms across trading agreements more broadly. He joined Goldman Sachs as a vice president in 2016 and was named managing director in 2021.

Prior to joining the firm, Steve held various roles at Tudor Investment Corporation, most recently as the global head of Treasury Operations. He began his career at Lehman Brothers in 2006.

Steve serves on the Emerging Leaders Council of New Heights Youth, Inc., a sports-based nonprofit that is focused on youth development and education based in New York City. He also serves as a mentor within the Fund Finance Association.

Steve earned a BS in Finance from the University of Maryland, College Park, in 2006.

Georgia Curtis

Lloyds Bank

FX & Interest Rate Risk Considerations for Fund Managers

11:20 AM | 2023-02-09

Georgia Curtis

Vice President, Financial Sponsors FX Sales | Lloyds Bank

Georgia has worked in Financial Markets at Lloyds Bank for eight years, where she currently leads the North America Financial Sponsors hedging business. She works with Private Markets Managers across various investment strategies to structure and execute FX and Interest Rate transactions in order to hedge their market risk. She started her career in London, covering the Lloyds’ European Financial Sponsors client set, and subsequently transferred to New York to help build out the US business. She holds a Bachelor of Science degree in Economics with Study in Europe from the University of Bristol.

Gino De Bernardo

Comerica Bank

Governance/Underwriting/Due Diligence

11:20 AM | 2023-02-09

Gino De Bernardo

Senior Vice President | Comerica Bank

With more than two decades of banking experience, Gino is a dedicated trusted advisor to fund managers headquartered in North America. Gino has spent the last 12 years on Comerica Bank’s Equity Fund Services team focused exclusively on fund finance. The team has worked closely with bank-leadership and industry leading counsel to expand Comerica’s capabilities and product offering to fund managers. Prior to Comerica, Gino worked at other financial institutions such as Wells Fargo, Fleet Bank, and Peoples Bank. Gino also serves on the Board of Directors for several community/cultural non-profits and business advocacy groups. Raised by Italian immigrant parents in Connecticut, Gino is of the first generation in his family to graduate high school and college. Gino is a proud alumni of the Orfalea College of Business at California Polytechnic State University in San Luis Obispo.

Jeremy Deutsch

Neuberger Berman

CFO and Rated Note Feeders

2:50 PM | 2023-02-09

Jeremy Deutsch

Vice President | Neuberger Berman

Jeremy Deutsch is a Principal and Investment Professional at Neuberger Berman. Prior to joining Neuberger Berman Private Equity in 2019, Jeremy worked in Financial Sponsors Investment Banking at Barclays, where he advised private equity clients and their portfolio companies on M&A and financing transactions. Prior to Barclays, he worked as an Investment Associate at Neuberger Berman on the Multi-Asset Class team, where he focused on investment research and portfolio management across global asset classes. Jeremy began his career at AQR Capital Management. He received an MBA from the Tuck School of Business at Dartmouth College and a BA in Economics and Environmental Studies from Amherst College.

Derek Dillon

Apollo

Missy Dolski

Värde Partners

The Evolving Lender Landscape & Impacts on Balance Sheet Management

11:20 AM | 2023-02-09

Missy Dolski

Global Head of Capital Markets | Värde Partners

Missy Dolski is a Senior Managing Director and Global Head of Capital Markets. Missy joined Värde in 2017 and is responsible for managing relationships with key capital markets accounts globally. She is also responsible for the debt advisory and financing execution needs of the firm’s investment book in both public and private debt markets, as well as for the firm’s fund financing needs.

Prior to joining Värde, Missy was a Director at Wells Fargo Securities in the Commercial Real Estate Capital Markets & Finance group where she focused on capital markets financing for a variety of non-bank lender clients. Throughout her career she held multiple roles at Wells Fargo within its structured finance, principal investing and corporate credit divisions in New York, London and San Francisco.

Missy graduated from the University of Minnesota’s Carlson School of Management with a B.S. in Business Administration and received an M.B.A. with distinction from London Business School.

Tom D'Orsi

Bain Capital

Pierre Drolet

The Canadian Medical Protective Association

NAV, Hybrids and Preferred Equity

11:20 AM | 2023-02-09

Pierre Drolet

Portfolio Manager - Private Assets | The Canadian Medical Protective Association

Pierre is Portfolio Manager, Private Assets at The Canadian Medical Protective Association where, together with the team, he oversees and directs investments and co-investments in Private Equity, Private Debt and Real assets. He is also a member of the Total Portfolio Investment Committee where he participates in the overall risk allocation of the CMPA portfolio.

Prior to this assignment in 2018, Pierre managed pension fund assets for more than 20 years at National Bank of Canada and Domtar. Before joining Domtar in 1996 where he was also involved in financial risk management, Pierre worked in Treasury Operations for the Montréal Transit Corporation and in various analyst roles for Caisse de Dépôt et Placement du Québec where, among other things, he participated in the development and implementation of VAR models.

Early in his career, Pierre gave lectures at HEC Montréal and for the CFA examination prep courses. Pierre has been on the University of Sherbrooke Pension Plan Investment Committee for more than 14 years. He was on the Pension Investment Association of Canada (PIAC) Board for many years and was also involved in their various committees over time.

Pierre graduated from École des Hautes Études Commerciales (HEC) in Montréal with a Master degree in Finance and he is a CFA Charterholder.

Vicky Du

Standard Chartered

The Evolving Lender Landscape & Impacts on Balance Sheet Management

11:20 AM | 2023-02-09

Vicky Du

Global Head, Fund Finance | Standard Chartered

Vicky Du is the Global Head, Fund Finance at Standard Chartered, managing a globally integrated team responsible for providing financial sponsors with fund level financing solutions.

Vicky has extensive knowledge and experience in Leveraged Finance, Structured Finance and Capital Markets. Prior to joining Standard Chartered, Vicky worked at Goldman Sachs and GE Capital. Vicky received an MBA from New York University Stern School of Business, and BS in Mathematics and Computer Science from University of Nebraska.

Vicky servers on the Advisory Committee for the Fund Finance Association, and Advisory Council for the Securities Industry and Financial Markets Association.

Christopher Duerden

Dechert LLP

CFO and Rated Note Feeders

2:50 PM | 2023-02-09

Christopher Duerden

Partner | Dechert LLP

Christopher P. Duerden, a partner in Dechert's global finance practice, focuses his practice on securitization and capital markets transactions. Mr. Duerden leads Dechert’s Structured Credit and CLO team, which has not only been ranked one of the most active in the CLO market since it restarted but also one of the most distinguished in terms of industry awards for best CLO law firm.

Mr. Duerden has extensive experience with collateralized loan obligations, leveraged loan warehouse facilities and a variety of asset backed securities transactions. In particular, he has focused on transactions involving the middle market sector but also has significant experience with securitizations of trade receivables. He represents various underwriters, collateral managers and borrower and lenders in respect of term and revolving warehouse facilities. Mr. Duerden also advises managers and borrowers in a variety of fund financing structures, including NAV facilities, collateralized fund obligations and rated feeders.

Mr. Duerden is ranked as a leading securitization and CLOs lawyer by Chambers USA, which noted Mr. Duerden "has vast market intelligence, and he is thorough and creative in finding solutions." Mr. Duerden is also recognized as a Rising Star for structured finance by Law360.

Prior to joining Dechert, Mr. Duerden worked at a large international law firm where he was an associate in the banking and finance practice group.

Fazillah Durante

TD Securities

Keynote Introduction

9:30 AM | 2023-02-10

Fazillah Durante

Head of Fund Finance Origination | TD Securities

Fazillah Duante is Head of Fund Finance Origination at TD Securities based in New York. She is responsible for developing cross-product solutions and strategies for Private Capital clients at the Fund, Manager, and Asset level, with close collaboration with the firm's Financial Sponsors, Financial Institutions, and Global Markets teams.

Prior to joining TD in 2024, Fazillah was Managing Director – U.S. Financial Sponsors & Fund Finance at Scotiabank, where she drove growth strategies across Global Markets and Corporate & Investment Banking for the past two decades in the Toronto, Bahamas and New York offices.
Fazillah is actively involved in industry leadership as the Co-Head of Women in Fund Finance Americas. She is also a CFA Charterholder.

Mike Durnin

Ares Management

New Suppliers of Capital in Fund Finance

1:40 PM | 2023-02-09

Mike Durnin

Principal | Ares Management

Mr. Durnin is a Managing Director in the Ares Secondaries Group, where he focuses on capital markets activity across the Secondaries platform. Prior to joining Ares in 2022, Mr. Durnin was a Vice President at Goldman Sachs Asset Management, where he was responsible for fund financing activity across the division, with a primary focus on the fund-of-funds platform. Previously, Mr. Durnin was an Associate General Counsel at BasePoint Capital, LLC, a boutique specialty finance lender, where he was involved in a broad array of functions across the firm. He holds a B.B.M. from Stony Brook University in Finance and a J.D. from New York Law School.

Damien Dwin

Lafayette Square

A Fireside Chat with Damien Dwin

9:10 AM | 2023-02-09

Damien Dwin

Founder and Chief Executive Officer | Lafayette Square

Damien Dwin is the Founder and Chief Executive Officer of Lafayette Square, a national investment platform. Founded in November 2020, Lafayette Square aims to create investment opportunities in overlooked places and underserved markets. Lafayette Square invests across asset classes and seeks to provide robust risk- adjusted returns to investors while positively supporting people and communities. By increasing access to economic opportunity, we can build a more inclusive American economy.

Previously, Damien served as Co-Founder and Co-CEO of Brightwood Capital Advisors from its founding in 2010 to October 2020.

Damien began his career as a trader with Goldman Sachs, New York & London, there earning the Michael P. Mortara Award for Innovation. He then further developed his investment expertise working for Credit Suisse, where he was the Co-Founder and Head of the North American Special Opportunities business until 2010. At Credit Suisse, Damien also served on the Vice President Selection Committee and led the Fixed Income Division Credit Training Program.

He is an active thought leader on mass incarceration, economic inclusion, racial justice and representation, and the use of purpose and profit for good. He has written for Entrepreneur and Inc.com.

A committed philanthropist, Damien currently serves as Chair of the Board of Trustees for Vera Institute of Justice. He also serves on the non-profit boards of Children’s Hospital of Philadelphia, Studio Museum in Harlem, National Trust for Historic Preservation, Woodberry Forest School, and Boys’ Club of New York.

Damien received a B.S./B.A. from Georgetown University where he later served two terms on the Board of Regents.

Mohamed El-Erian

PIMCO

Keynote Address by Mohamed El-Erian

9:30 AM | 2023-02-10

Mohamed El-Erian

PIMCO

Mohamed A. El-Erian is the President of Queens’ College, the University of Cambridge. Since 2014, he has served as Chief Economic Advisor at Allianz, the corporate parent of PIMCO where he formerly served as chief executive and co-chief investment officer. He is Chair of Gramercy Fund Management, a columnist for Bloomberg View, and a contributing editor at the Financial Times, He serves on two corporate boards and several advisory committees and non-profit boards.

Dr. El-Erian first joined PIMCO in 1999 and was a senior member of PIMCO’s portfolio management and investment strategy group. He rejoined the company at the end of 2007 after serving for two years as president and CEO of Harvard Management Company, the entity that manages Harvard’s endowment and related accounts. Before coming to PIMCO, Dr. El-Erian was a managing director at Solomon Smith Barney/Citigroup in London and before that, he spent 15 years at the International Monetary Fund in Washington, D.C. where he served as Deputy Director before moving to the private sector.

Dr. El-Erian served as Chair of President Obama’s Global Development Council from December 2012 to January 2017. He has published widely on international economic and finance topics. His 2008 book, When Markets Collide, was a New York Times and Wall Street Journal bestseller, won the Financial Times/Goldman Sachs Business Book of the Year, was named a book of the year by The Economist, and one of the best business books of all time by the Independent (UK). He was named to Foreign Policy’s list of “Top 100 Global Thinkers” for four years in a row. Since 2014, he has been serving on the jury for the Financial Times/McKenzie Book of the Year award. His latest book, published in January 2016, The Only Game in Town: Central Banks, Instability and Avoiding the Next Collapse, is a New York Times bestseller.

Dr. El-Erian has served on several boards and committees, including the U.S. Treasury Borrowing Advisory Committee, the International Center for Research on Women, the Peterson Institute for International Economics, the Carnegie Endowment for International Peace, the IMF’s Committee of Eminent Persons and the New York Fed’ Investor Advisory Committee on Financial Markets. He is currently a board member of Barclays, Under Armour, the NBER (Executive Committee), Berggruen Institute (Executive Committee), and several educational institutions. In 2018, he was just appointed to the IMF’s External Advisory Group on Surveillance and MIT’s Visiting Committee for the Department of Economics. He is a member of the Council on Foreign Relations, the Investcorp external committee and government advisory committees. Since 2007, he has been chair of Microsoft’s Investment Advisory Board and co-chairs the Capital Campaign for the University of Cambridge and its Colleges..

Recognized for his philanthropic contributions, particularly in the areas of education and health, Dr. El-Erian has received several awards, including lifetime achievement from the 57357 Hospital for Children/Egyptian Cancer Network where he is the Honorary Chair. Other recognition’s include the ABNA, Arab Banker of the Year, ACCESS Arab-American of the Year Award, Africa Investor’s Capital Markets Personality of the Year, Fixed Income Analysts Society’s Hall of Fame, Foreign Policy’s “Top 100 Global Thinkers” (4 years in a row), Investment News’ “Icon and Innovator,” Linked-In top 3 “voices” among its “influencers” (2016 and 2017), Louise Bloin Foundation Creative Leadership Award, Middle East Institute’s Visionary Award, Orange County Business Journal’s most influential personalities (multiple times), Ukleja Center’s Nell and John Wooden Ethics in Leadership award, and Worth magazine’s “100 Most Powerful People in Finance” (multiple years).

Dr. El-Erian holds a master’s degree and doctorate in economics from Oxford University and received his undergraduate degree from Cambridge University.

Sarah Elliott

National Australia Bank Limited

NAV, Hybrids and Preferred Equity

11:20 AM | 2023-02-09

Sarah Elliott

Head of Client Coverage | National Australia Bank Limited

Sarah Elliott is Head of Client Coverage for NAB North America, and leads the Financial Sponsors, Infrastructure, Renewables, Asset Finance, Insurance, Banks, and Corporates coverage teams. Sarah is a member of NAB’s North American Executive Leadership team and Risk Committee. In the Financial Sponsors space, Sarah and her team work with open and closed-end Funds across the fund finance spectrum including subscription finance, NAV and Hybrid facilities, as well as FX and interest rate hedging. With 17 years’ experience in the market, Sarah has been based in New York for over 5 years, and during this time has led Fund Finance deals for some of the largest global Sponsors. Before NAB, Sarah was a Finance Attorney at top tier Australian law firm King & Wood Mallesons working with Funds across Fund Finance, Real Estate, Leveraged and Project Finance and DCM. Sarah holds qualifications in law (University of Sydney) and a degree in liberal arts, as well as business, finance and accounting certifications.

Greg Fayvilevich

Fitch Ratings

New Suppliers of Capital in Fund Finance

1:40 PM | 2023-02-09

Greg Fayvilevich

Global Head of Fund & Asset Management, Managing Director | Fitch Ratings

Greg Fayvilevich is a Managing Director and global head of Fitch Ratings' Funds & Asset Managers group, based in London. The Funds group is responsible for Fitch’s coverage of money market funds, local government investment pools, and bond funds. Greg’s team is responsible for assigning and maintaining ratings, developing rating criteria and models, and publishing research on analytical and regulatory developments affecting the sectors the group covers.

Previously, Greg was a member of the Financial Guarantors group at Fitch. Prior to joining Fitch, Greg worked for ACE Group.

Greg earned a BS in finance from Rutgers University.

Max Forton

Nomura

Secondaries & Continuations

1:40 PM | 2023-02-09

Max Forton

Head of Trading of Fund Finance & Solutions, Americas | Nomura

Max is the Head of Trading for Fund Financing & Solutions (“FFS”) in the Americas and has been with the team for over 7 years. In this role, Max is responsible for trading and management of FFS risk booked in the Americas, ensuring continuity of underwriting in global businesses, and maintaining client relationships.

Nomura is a market leader in originating and structuring NAV-based financing solutions for alternative investors. Originations have historically focused on private equity secondaries and fund of funds, but also includes NAV financing for buyout and late stage growth private equity funds. The team also experience in hedging and monetization of concentrated equity positions.

Max graduated from the University of Virginia with a B.S. in Commerce with focuses on finance and management.

Brian Foster

Cadwalader, Wickersham & Taft

Secondaries & Continuations

1:40 PM | 2023-02-09

Brian Foster

Partner | Cadwalader, Wickersham & Taft

Brian Foster is a partner in Cadwalader’s Finance Practice and a member of Cadwalader’s market leading fund finance team. Brian focuses on financing, derivatives and structured products transactions involving financial institutions and investment funds. His experience covers a broad range of derivatives (including OTC trades, structured notes, options, forwards and swaps, with particular focus on equity- and fund-linked derivatives) and financing arrangements (including secondaries financing, fund of hedge fund and single manager hedge fund leverage, management company loans, dividend recapitalizations, NAV facilities, subscription lines, hybrid transactions, preferred share issuances, collateralized fund obligations, margin loans, securities lending and repo facilities and prime brokerage arrangements).

Prior to joining Cadwalader, Brian worked at Lehman Brothers Holdings Inc. in connection with the unwinding of its derivatives book in bankruptcy. He also worked as a structurer in Global Fund Derivatives at Deutsche Bank, where he arranged fund finance transactions and fund-linked structured product transactions.

Brian has been recognized as a leading lawyer in Derivatives and Structured Products by Legal 500 USA and is ranked Tier 2 for Capital Markets: Structured Products in Chambers USA.

Brian received a B.A., magna cum laude, from Santa Clara University, and his J.D., cum laude, from Georgetown University Law Center. He speaks Spanish and has studied and worked in Latin America. He is admitted to practice in the State of New York.

Ron Franklin

Proskauer

New Suppliers of Capital in Fund Finance

1:40 PM | 2023-02-09

Ron Franklin

Partner | Proskauer

Ron D. Franklin is co-head of Proskauer's Corporate Finance Group and leads the Firm’s Fund Finance practice. He advises clients across a broad spectrum of finance issues, including secured and unsecured lending transactions, domestic and cross-border acquisition financings, all types of fund financings, project financings, workouts, restructurings and general banking concerns. He also counsels corporate clients regarding stock and asset acquisitions, contract negotiations and general corporate matters.

Flora Go

Paul, Weiss, Rifkind, Wharton & Garrison LLP

Fund Manager Developments

1:40 PM | 2023-02-09

Flora Go

Partner | Paul, Weiss, Rifkind, Wharton & Garrison LLP

A partner in the Corporate Department and head of our Fund Finance Group, Flora Go represents asset managers and their investment funds in a broad spectrum of fund-level leverage transactions for private equity, senior credit, mezzanine credit, special situations, real estate, infrastructure and other strategies. She has particular expertise advising funds with complex tax and regulatory structures on financings collateralized or supported by underlying fund investments. Flora also has extensive experience in subscription-based facilities, hybrid facilities and in other types of investment fund leverage.

Flora regularly speaks on fund finance topics and actively contributes to industry conferences and panel discussions hosted by the Practising Law Institute, American Bar Association, Fund Finance Association and others. She currently serves as the Vice-Chair for the Fund Finance Subcommittee of the American Bar Association.

Dipti Goel

City National Bank

Syndication Update

1:40 PM | 2023-02-09

Dipti Goel

Managing Director | City National Bank

Dipti Goel is a Managing Director within Loan Syndications at City National Bank. Dipti is responsible for the origination, structuring and distribution of various types of lines of credit for all funds and strategies across the bank. Dipti joined City National Bank in May 2021. Prior to City National Bank, Dipti served in similar loan capital markets roles at Lloyds and U.S. Bank. She began her career for JP Morgan as a Credit Analyst and moved to the Investment Banking M&A team for Bank of America shortly after. Dipti earned a Bachelor of Science in Finance and a Bachelor of Science in Information Decision Sciences from the University of Illinois in Chicago. She has 20 years of banking and loan capital markets experience and holds FINRA Series 24, 63, and 79 licenses.

Ariel Goldblatt

Stepstone

Fund Manager Developments

1:40 PM | 2023-02-09

Ariel Goldblatt

Partner | Stepstone

Ms. Goldblatt is a Partner on StepStone’s Private Debt team.

Prior to joining StepStone, Ms. Goldblatt was a director of business development at CNBC, Inc., where she led business development and M&A activity. Prior to that, Ms. Goldblatt was a senior analyst at Eachwin Capital, L.P. an institutionally oriented investment management firm. Before that she worked in private equity, private credit and investment banking at Apax Partners LLP, Crescent Capital Group L.P. and Merrill Lynch & Co.

Ms. Goldblatt received her MBA from The Wharton School, University of Pennsylvania and her BS in finance from the Schreyer Honors College, Pennsylvania State University.

Jennifer Grancio

Engine No. 1

WFF Networking Lunch

11:30 AM | 2023-02-08

Jennifer Grancio

CEO | Engine No. 1

Jennifer guides the firm’s strategy and vision. She has over 25 years of experience scaling businesses across financial services that have a positive impact for investors.

Before Engine No. 1, Jennifer founded an advisory firm where she worked closely with CEOs to accelerate growth. Prior to that, she served as a founding member of BlackRock’s iShares business, where she led European, US, and global distribution and drove the growth of the global ETF industry and iShares’ leadership role within it. During her tenure at BlackRock, she also led teams across wealth, personal investing, technology, and venture investing. She started her career as a consultant at PwC.

Jennifer received a BA in Economics and International Relations from Stanford University and an MBA from Columbia Business School. She serves on the boards of MannKind Corporation and Ethic. She is passionate and active in mentoring and developing diverse leaders.

Lauren Gubkin Stein

J.P. Morgan Private Bank

Market Evolution & Industry Perspectives

11:20 AM | 2023-02-09

Lauren Gubkin Stein

Managing Director | J.P. Morgan Private Bank

Lauren (Gubkin) Stein is a Managing Director and Lending Specialist in the New York office of J.P. Morgan’s Private Bank. As a leader within the Financial Sponsors Group, she specializes in providing lending solutions to some of the firm’s most sophisticated clients—financial sponsors, funds and their individual partners. Lauren works with funds and individuals on optimal ways to bridge their liquidity and cash management needs, including subscription facilities, co-investment programs, art and aircraft purchases, or to pursue entrepreneurial projects. In 2005, Lauren began her career in J.P.Morgan’s Investment Bank, where she spent 10 years in Credit Risk Management as part of the Alternative Asset Managers & Funds team, covering a diversified client base including financial sponsors, private equity/real estate funds, REITs, BDCs and hedge funds.

Lauren is passionate about mentoring junior talent and empowering the next generation of female leaders within J.P.Morgan. She launched Junior Women in Lending for early-career advisors, serves as a Mentee Sponsor in the Rising Black Talent Program, and is a member of the Women on the Move Professional Development Events Committee. A cum laude graduate of Boston University, Lauren earned a B.S. in Business Administration with a dual concentration in Finance and Business Law.

Michael Hacker

AlpInvest Partners

NAV, Hybrids and Preferred Equity

11:20 AM | 2023-02-09

Michael Hacker

Managing Director | Partner and Global Head of Portfolio Finance | AlpInvest Partners

Michael Hacker is a Managing Director – Partner and Global Head of Portfolio Finance. Michael is also the Chairman of AlpInvest’s global Investment Committee. He represents AlpInvest Partners on numerous Advisory Boards, including The Audax Group, Court Square Capital Partners, Dubin Clark & Co., GSO Capital Partners, Kinderhook Industries, Lee Equity Partners, Manulife Private Equity Partners, the Stagwell Group and Sumeru Equity Partners.

Since launching the firm’s portfolio finance efforts in 2018, Michael has helped position AlpInvest as a leader in this rapidly growing segment providing NAV-based financings for private funds, general partners and their management companies as well as LP Interest portfolios while pursuing complementary credit secondary investments.

Over nearly 20 years as both an investor and advisor, Michael has led over 65 transactions across secondaries and portfolio finance, representing more than $15 billion in total volume, including purchases of LP interest portfolios, various portfolio financings, fund recapitalizations, spinouts and continuation funds.

Michael joined AlpInvest Partners in 2007 from UBS Investment Bank, where he was an original member of the Private Funds Group responsible for providing Secondary Market advisory services. Previously, he was a member of the Leveraged Finance Group of CIBC World Markets. Michael received a BA in History, cum laude, from Williams College and an MBA from The Wharton School, University of Pennsylvania.

Terence Hatton

MUFG Bank Ltd

Fireside Chat with Barry Sternlicht, Starwood Capital Management

4:10 PM | 2023-02-09

Terence Hatton

Managing Director | MUFG Bank Ltd

Terry Hatton is a Managing Director and head of the Fund Finance Group for MUFG in New York. MUFG’s fund client base includes real estate, mezzanine, infrastructure, energy, private equity and venture capital. The bank has built an established track record, providing fund sponsors with competitive lending products, inclusive of subscription and bridge capital call facilities; senior and asset-based debt financing for general industries, as well as health care, environmental, and aerospace and defense. Terry has a bachelor’s degree from University of Western Ontario.

Mike Henry

U.S. Bank

Jocelyn Hirsch

Kirkland & Ellis LLP

Titans in Finance – The Rise of Private Debt!

10:00 AM | 2023-02-09

Jocelyn Hirsch

Partner | Kirkland & Ellis LLP

Jocelyn Hirsch is a partner at Kirkland & Ellis LLP whose practice focuses primarily on the representation of private equity sponsors and corporate borrowers in complex financing transactions, including leveraged buyouts, cross border facilities, asset based facilities and sponsor capital call/subscription and NAV facilities. Her experience in private equity covers multiple sectors including real estate, energy, infrastructure, secondary and financial services funds with aggregate funds raised totaling tens of billions of dollars. Jocelyn's client list spans the globe and includes Warburg Pincus, Vista Equity Partners, Ares, Golub Capital, HGGC, LS Power, TPG, JPM Infrastructure, Summit Partners and GTCR, among others.

Jocelyn is nationally regarded as a leading voice in the fund facility market and represents many of the world’s preeminent private equity, debt and related investment funds in complex and bespoke fund financings. She is routinely called upon to speak on fund finance topics.

Stevevn Hopchick

Barclays Bank PLC

Fund Manager Developments

1:40 PM | 2023-02-09

Stevevn Hopchick

Managing Director | Barclays Bank PLC

Steven Hopchick is a Managing Director in the Cross Asset Solutions Team at Barclays Bank PLC. Mr. Hopchick focuses on providing financing solutions for investors in less liquid assets including mutual funds, hedge funds, and private equity investments. He has an extensive background working with a variety of financing structures including revolving credit facilities, term loans, variable funding notes, and total return swaps. Mr. Hopchick joined Barclays Bank in October of 2004 and has worked in the fund linked financing and derivatives space since 2002. Prior to joining Barclays Bank, Mr. Hopchick was employed by BNP Paribas in the equity derivatives and fund linked derivatives groups. Mr. Hopchick received his A.B. from Harvard University and his Masters of Business Administration from the University of Chicago’s Booth School of Business.

Finn Howie

Mourant

Global Legal Update

1:40 PM | 2023-02-09

Finn Howie

Counsel | Mourant

Finn Howie is Counsel in Mourant's Cayman Islands Corporate and Finance team. His practice primarily focuses on fund finance, alongside leveraged and structured financing transactions. In the fund finance space, he regularly advises both lenders and borrowers on the structuring and implementation of subscription credit lines, NAV facilities (including hybrid facilities), GP loans and other fund-level leverage and related security arrangements. Finn has been recognized as a Rising Star by the Fund Finance Association, and by the Legal 500 Caribbean and IFLR publications. Finn has been based in the Cayman Islands since 2018, having previously practiced at Skadden Arps in London.

Charles Inkeles

ICBC

Subscription Finance Hot Topics

2:50 PM | 2023-02-09

Charles Inkeles

Head of U.S. Fund Finance | ICBC

Charles Inkeles joined the Industrial and Commercial Bank of China (ICBC) in 2021 as the head of its U.S. Fund Finance team. Before joining ICBC, Mr. Inkeles spent two years at Santander as its head of U.S. Fund Finance. Prior to that he served two years at Commonwealth Bank of Australia as a member of its global Institutional Lending – Funds Finance team. Prior to that Mr. Inkeles spent three years at State Street Bank as a Managing Director and head of its global subscription lending business. Prior to that Mr. Inkeles spent 10 years at ING Bank in its Funds Finance Group, where he served as a Managing Director responsible for the company’s global subscription lending business, as well as a U.S. NAV finance portfolio. Mr. Inkeles holds a B.A. from Yale University, a J.D. from the University of Southern California School of Law, and an M.B.A. from the Yale School of Management.

Jeff Johnston

EverBank

Opening Remarks

9:00 AM | 2023-02-09

First Mover Founders Panel

10:20 AM | 2023-02-10

Jeff Johnston

Head of Asset-Backed Finance | EverBank

Jeff Johnston is Senior Vice President, Head of Asset-Backed Finance, for EverBank.

Prior to joining the bank, Mr. Johnston was a Managing Director and the Head of Asset Management within Wells Fargo’s Corporate & Investment Banking group with oversight of a nearly $100 billion portfolio of bank commitments.

Prior to founding the Subscription Finance business at Wells Fargo in 2010, Mr. Johnston was responsible for the portfolio and workout of over $10B of legacy structured products for the bank, including cash and synthetic ABS and CRE CDO’s, total return swaps, and RMBS positions. Prior to joining Wells Fargo, Mr. Johnston served in Bank of America’s Global Structured Products group.

Mr. Johnston is a Co-founder and Chairman of the Board for the Fund Finance Association, a global industry association for constituents in the fund finance space, is considered an original thought leader of fund finance and is a frequent speaker at industry conferences.

Mr. Johnston is a CFA charter holder and is a graduate of the University of South Florida.

Bronwen Jones

Reed Smith

NAV, Hybrids and Preferred Equity: An International Perspective

2:50 PM | 2023-02-09

Bronwen Jones

Partner | Reed Smith

Bronwen is co-head of the Fund Finance practice at Reed Smith and has over twenty years’ experience in Fund Finance, having been active in the space since its inception in the London market.

She acts for banks and other financial institutions, sponsors, general partners, and fund managers on a whole range of fund finance matters including capital call (subscription line) facilities, Net Asset Value (NAV) facilities, hybrid facilities, and general partner and co-investment facilities.

She is ranked by Chambers UK in Band 1 for Banking & Finance: Fund Finance and is recognised as a “Leading Individual” in Fund Finance by The Legal 500 UK. The Reed Smith team is also ranked Band 1 in Chambers UK and Tier 1 in The Legal 500 UK for Fund Finance in London.

Bronwen brings significant market experience, innovative thought, and patience to sophisticated deals, and is renowned for her ability to deliver complex concepts to her clients.

Steven Kahn

Assured Guaranty

WFF Networking Lunch

11:30 AM | 2023-02-08

The Evolving Lender Landscape & Impacts on Balance Sheet Management

11:20 AM | 2023-02-09

Steven Kahn

Senior Managing Director | Assured Guaranty

Steve is a Senior Managing Director at Assured Guaranty and co-head of the Structured Finance Group. Steve is leading Assured’s Fund Finance business with a focus on capital call facility guarantees for banks and investors. Prior to joining Assured Guaranty in 2019, he was a Managing Director in the Structured Products Group at Mizuho Securities and before that, he spent five years as President and Executive Officer of Invicta Capital, a credit derivative product company. Steve spent 12 years at Financial Security Assurance where he was head of the CLO and ABS guaranty businesses. Steve started his career as a CPA at Ernst & Young.

Anastasia Kaup

Fund Finance Partners

Diversity Update

4:10 PM | 2023-02-09

Anastasia Kaup

Managing Director and Partner | Fund Finance Partners

Anastasia N. Kaup has represented asset managers, fund sponsors, investment funds, bank and non-bank lenders, and other parties in financing and investment transactions across the private equity, private credit, real estate, hedge fund, venture capital, and distressed investment spaces. Ms. Kaup structures, negotiates, and documents complex financing transactions domestically and internationally at all levels of the organizational structure.

Prior to joining FFP, Ms. Kaup most recently led the fund finance practice group at an AmLaw 100 law firm where she represented alternative asset managers, sponsor-backed companies, and lenders to such entities, in a wide array of financing and investment transactions. Anastasia’s extensive fund financing expertise spans subscription and NAV-based credit facilities, partner loan programs, management fee lines of credit, and portfolio company financings. She has also advised both emerging and established financial sponsors in connection with all aspects of product development and capital formation in various formats, benefitting institutional, high- (and ultra-high-net-worth) and sovereign wealth investors. Anastasia’s advice to clients on the entire range of strategic and capital-related needs, throughout economic cycles has always been practical and commercial, as well as legal.

Anastasia is consistently recognized for both her professional expertise and community contributions. She is a trailblazer in LGBTQ+ community advocacy, volunteer work, and education initiatives, including as a leader for Out in Finance and Lambda Legal. She was recognized as one of the “Best LGBTQ+ Lawyers Under 40” and has been lauded as a “rising star” by clients and industry publications. Additionally, she served on the Board of Directors of New York’s largest civil rights and advocacy non-profit organization. Currently, Anastasia serves as Co-Chair of the Fund Finance Association’s Diversity in Fund Finance initiative. She also actively participates in various professional organizations serving the Hispanic/Latinx community, women, and individuals in need. Anastasia is also an Adjunct Professor of Law at Northwestern University Pritzker School of Law.

Ken Kencel

Churchill Asset Management

Titans in Finance – The Rise of Private Debt!

10:00 AM | 2023-02-09

Ken Kencel

President and CEO | Churchill Asset Management

Ken serves as President and CEO of Churchill Asset Management, an affiliate of Nuveen, the asset management arm of TIAA, a Fortune 100 financial services company. He also serves as Chairman of the Board, President and CEO of Nuveen Churchill Direct Lending Corp., Churchill’s publicly registered business development company.

Churchill currently manages over $46 billion in committed capital and focuses on providing senior, unitranche and junior debt financing and making equity co-investments and fund commitments to leading private equity investment firms and their portfolio companies. Churchill is among the most active private capital managers in the U.S., annually investing approximately $11 billion in over 375 distinct transactions.

Throughout his over 35-year career in the investment industry, he has accrued a broad range of experience in leading private credit investment businesses. Previously, Ken served as a Managing Director of The Carlyle Group, where he also served as President and a Director of Carlyle Secured Lending, Inc. (Carlyle’s publicly traded business development company). Prior to that he founded and was President and CEO of Churchill Financial Group, served as Head of Leveraged Finance for Royal Bank of Canada and was Head of Indosuez Capital, a leading middle market merchant banking and asset management business in partnership with Credit Agricole Group. Ken was also a founder of the high yield finance business at Chase Securities (now JP Morgan Chase).He began his career in the Mergers & Acquisitions Group at Drexel Burnham Lambert. He regularly appears as a guest commentator on private credit markets on Bloomberg, CNBC, The Wall Street Journal and The Financial Times.

Ken graduated with a B.S. in Business Administration, magna cum laude, from Georgetown University and a J.D. from Northwestern University Pritzker School of Law. He serves on the Pension Investment Advisory Committee for the Archdiocese of New York, the Board of Trustees and Chairman of the Investment Committee of Canisius High School (a private Jesuit Preparatory school in Buffalo, NY) and the Advisory Board of Teach for America (Connecticut). Ken is a former member of the Board of Advisors and Adjunct Professor at the McDonough School of Business at Georgetown University.

Sandi Kim-Suk

Engine No. 1

WFF Networking Lunch

11:30 AM | 2023-02-08

Sandi Kim-Suk

Chief Financial Officer | Engine No. 1

Sandi is a senior financial executive with over 25 years of experience in banking and private equity. Prior to joining Engine No.1, she had roles as CFO of Norwest Equity Partners | Norwest Mezzanine Partners, and at L Catterton. Sandi began her career as an investment banker at Citi in the media/telecom group and subsequently moved to Citi’s Finance Division where she was responsible for Capital Management within the Treasury group of Capital Markets & Banking, and then subsequently was the COO/CFO of Citi Infrastructure Investors, a $3.5 billion infrastructure-focused fund.

Sandi received her BA in Economics from Smith College and an MBA from Columbia Business School.

Julia Kohen

Simpson Thacher

Market Evolution & Industry Perspectives

11:20 AM | 2023-02-09

Julia Kohen

Partner | Simpson Thacher

A Partner in Simpson Thacher’s Fund Finance Practice, Julia Kohen concentrates her practice on representing financial sponsors in connection with debt financings for their private equity, real estate, energy, infrastructure, credit and other investment funds. She has extensive experience in complicated financings designed to provide fund-level leverage to facilitate and support investment activities, as well as management lines and co-investment loan programs. Julia has been recognized by Law360 as a 2020 “Rising Star” in Banking.

In addition, Julia has co-authored chapters in several editions of Global Legal Insights’ Fund Finance guide, which covers legal trends and developments in the greater fund finance market and provides law firms, financial institutions, funds and investors with comprehensive insight.

Alex Lambiotte

Allvue Systems

Subscription Finance Hot Topics

2:50 PM | 2023-02-09

Alex Lambiotte

Global Head of Fund Finance – Solutions Engineering | Allvue Systems

Alex has been at Allvue Systems for the past 6 years, joining Black Mountain Systems before the Alta Return merger. Earlier in his career, he focused on developing their Private and Public Credit, as well as Banking products. Currently, Alex leads the Solutions Engineering team for Allvue’s Fund Finance and Banking products. Focusing on growing and enhancing the product in the banking market, the team interfaces directly with new and existing clients to help solve common day to day challenges and implement long term strategic solutions.

Laurie Lawler

Société Générale

The Evolving Lender Landscape & Impacts on Balance Sheet Management

11:20 AM | 2023-02-09

Laurie Lawler

Managing Director, Head of Capital Call Financing, Deputy Head of FI Origination | Société Générale

Laurie Lawler is currently a Managing Director at Société Générale acting as Head of Capital Call Financing and Deputy Head of Credit & Structured Finance Fixed Income Origination in the US. In her current role, Laurie focuses on the origination of transactions across SG’s credit & structured finance product offerings in addition to running a subscription finance practice servicing SG’s Financial Sponsor, Asset Manager and Insurance Company client base. She joined SG in October 2018 from HSBC where she held various positions from 2006 through 2018, including Head of US Conduit Financing, Head of US Capital Call Financing and most recently was the Head of Structured Finance in the Americas. Laurie has over 20 years of experience in the origination, structuring and execution of structured financings ranging from traditional conduit securitizations to more esoteric fund financing transactions. Prior to joining HSBC, she spent five years within Citi's Global Securitized Markets division executing conduit securitization transactions. Laurie graduated from Iona College in 2001 with a Bachelor of Arts degree in Mathematics and was a Division I college athlete.

Vanessa Lawlor

Maples Group

Fund Manager Developments

1:40 PM | 2023-02-09

Vanessa Lawlor

Partner | Maples Group

Vanessa is a Partner of Maples and Calder's Banking and Finance team in the Maples Group's Dublin office. Vanessa has extensive experience advising domestic and international lenders and investment funds on a range of domestic and cross-border fund finance transactions, with a particular focus on subscription line financing.

Vanessa's practice also includes advising lenders and borrowers on a broad range of domestic and cross-border finance transactions involving real estate investment and development finance, corporate debt, leveraged and acquisition finance, refinancings and restructurings.

Vanessa is frequently sought out by leading US and London law firms for her experience and expertise in the fund finance space in Ireland. She acts for leading financial institutions and global private equity funds on all types of fund financings from subscription line facilities to NAV facilities and hybrid facilities across the spectrum of Irish investment fund vehicles.

Vanessa won the Euromoney Women in Business Law EMEA Finance Rising Star award in 2021. Vanessa is a member of the Women in Fund Finance Committee (Europe) and her role has a specific focus on the Irish markets as well as acting as a strong advocate for women across the Fund Finance industry.

Vanessa is ranked as a "Rising Star" by The Legal 500 and IFLR 1000. Clients praise Vanessa for her "professional and practical manner" and recognise her as being "very competent, knowledgeable, efficient and decisive".

Stanley Likver

Ares Management

Syndication Update

1:40 PM | 2023-02-09

Stanley Likver

Managing Director | Ares Management

Stan Likver is a Principal in the Global Capital Solutions group at Ares Management and is responsible for overseeing the firm's capital markets relationships and arranging fund level financings across the platform. Prior to joining Ares in 2019, Stan was Vice President in the Client Solutions Group at HSBC where he was responsible for originating and executing strategic cross-asset global markets and structured financing transactions with top tier sponsor and financial institution clients. He has held roles in Debt Capital Markets, Corporate Interest Rate Derivatives, Credit Treasury Trading and Balance Sheet Management at HSBC. Stan graduated Boston University, summa cum laude, with dual degrees from the Questrom School of Business and the College of Arts and Sciences, where he earned a B.S. in Business Administration with a concentration in Finance and a B.A. in Economics. Born and raised in Brooklyn, New York, he's fluent in Russian and conversational in Spanish.

Shirley Liu

Mizuho Americas

FX & Interest Rate Risk Considerations for Fund Managers

11:20 AM | 2023-02-09

Shirley Liu

Head of Derivatives Risk Solutions | Mizuho Americas

As the Head of Derivatives Risk Solutions for Mizuho Americas, Shirley Liu and team assist clients to construct bespoke hedging solutions for Corporates, Sponsors and Project Finance. Shaped by twenty years of analyzing and navigating market risks that impact acquisitions and financing, Ms. Liu steers her team with a distinctly solutions-led and client-focused approach.

In the 5 years after joining Mizuho in 2017, Ms. Liu has led the Derivatives Risk Solutions team to achieve significant growth in the solutions business across FX and rates. With the team’s strength for delivering customized solutions tailored to financing, M&A, and asset liability management, Mizuho has distinguished itself as one of the top FX and rates solutions groups for major corporate hedgers and sponsors clients.

Previously, Ms. Liu was Managing Director and Head of the Americas Risk Solutions Group for Nomura Securities’ Investment Banking Division. During her seven-year tenure, she successfully established the firm’s delivery of differentiated strategic asset liability and event-driven hedging. From 2006 to 2009, she served with the Risk Solutions Group at Merrill Lynch, and prior to that spent five years in corporate derivatives at Credit Suisse.

Ms. Liu holds a B.A. (hon) from the University of Chicago. She is also an impassioned advocate for opening doors to fellow females in the investment banking world and is a board member of Inspiring Girls USA.

Deborah Low

Haynes Boone

WFF Networking Lunch

11:30 AM | 2023-02-08

Deborah Low

Partner | Haynes Boone

Deborah Low is a partner in the Finance Practice Group in the New York office of Haynes and Boone. Her background is in representing foreign and domestic institutional lenders in various forms of secured and unsecured finance transactions including subscription finance, syndicated lending, corporate finance, leveraged finance, commodities and energy finance and project finance. In connection with subscription-secured credit facilities, Deborah also regularly advises clients on additional leverage solutions for private equity funds including NAV and hybrid facilities, management fee lines, GP and employee coinvest lines and letters of credit.

Cecilia Luk

Sumitomo Mitsui Trust Bank

Syndication Update

1:40 PM | 2023-02-09

Cecilia Luk

Head of Fund Finance Syndication | Sumitomo Mitsui Trust Bank

Cecilia Luk, is Head of Fund Finance Syndication at Sumitomo Mitsui Trust Bank, Ltd. (SuMi TRUST) within the New York Branch. Cecilia has led the expansion of the Fund Finance syndication business within SuMi TRUST and is responsible for originating and maintaining fund finance banking relationships. Given SuMi TRUST’s unique position as global player within the alternative investment universe, Cecilia acts as liaison between Asia and North America by leveraging banking relationships and knowledge within the SuMi TRUST global network. Prior to joining SuMi TRUST in 2022, Cecilia was with Sumitomo Mitsui Banking Corporation for five years within Loan Capital Markets and Financial Institution Group. Cecilia joined SMBC having prior been employed by BNP Paribas and was responsible for syndicated loans execution. Cecilia has extensive banking experience covering financial institutions, with a particular focus on the banks segments across markets and financing products.

Jeff Maier

Citizens

Closing Remarks

5:00 PM | 2023-02-09

Jeff Maier

Managing Director | Citizens

Jeff Maier is a Senior Managing Director on the Private Equity Finance team at Citizens Private Bank and based in New York. Jeff has worked in private capital since 2002 when he joined JPMorgan’s proprietary private equity group, JPMorgan Partners (JPMP). After the spin-out of JPMP in 2005, Jeff helped launch JPMorgan’s Private Equity Fund Services, a leading third-party provider of banking and fund administration services to private equity sponsors globally. In 2012, Jeff joined Silicon Valley Bank (SVB) to lead their Global Fund Banking group out of New York. During his tenure at SVB, Jeff was able to grow the New York Private Equity and Venture portfolio from $1B to over $6B in loan commitments. In 2017, Jeff and his business partner, Scott Aleali, joined First Republic Bank (FRB) to lead their Private Equity Finance business in New York. During their tenure at FRB, Jeff and his team originated over $8B in loan commitments. Jeff has extensive middle office, back-office, and business development expertise in private capital, including banking and lending to some of the leading private capital sponsors in the world. His team has experience lending to Funds, Management Companies, and GP entities.

Jeff holds a law degree from the University of Missouri and a B.S. from Illinois State University. He was a founding Board Member of the Fund Finance Association and current co-host of #FundFanatics.

Pippa Malmgren

A Geopolitics Discussion with Pippa Malmgren

2:50 PM | 2023-02-09

Pippa Malmgren

Pippa Malmgren is an economist who advised the President of the United States during Enron and 9/11. She served on The National Economic Council, The President's Working Group on Corporate Governance, and The President's Working Group on Financial Markets. Pippa also advised the British Cabinet and the Cabinets of several Asian nations on economic policy. Now and again, the NATO Generals ask her to brief them, and she also lectures at Sandhurst and Duke for their Global Executive MBA programs. Pippa has founded founded and supported tech ventures in robotics, space, motorsports, cleantech, and more. She is a Senior Advisor to The Monaco Foundry, a startup incubator. She also co-founded a firm in the drone/autonomy space that won a 2020 CogX award for innovation and the 2020 British National Technology Award. Her book, The Leadership Lab, won both the 2019 Business Book of the Year and the 2020 Independent Press Award. Her next book, The Infinite Leader, won the Independent Press Award in 2021. She has been named as a leading Woman in Tech by We Are Tech Women and in the top 50 Women in Tech by AccelerateHer.

Martins Marnaunza

Coller Capital

Secondaries & Continuations

1:40 PM | 2023-02-09

Martins Marnaunza

Partner | Coller Capital

Martins is an Investment Partner responsible for origination and execution of private credit secondary investments. He is based in the firm’s London office.

Prior to joining Coller Capital in 2010, Martins was a Senior Investment Executive at Hanseatic Capital, a mezzanine investor in Central and Eastern Europe and the Nordics. Previously, he was a Senior Consultant with Ernst & Young’s Transaction Advisory group.

Martins has a BSc in Economics from Stockholm School of Economics (Riga), and an MBA (with Distinction) from the University of Oxford.

Mike Mascia

EverBank

Keynote Address by Mohamed El-Erian

9:30 AM | 2023-02-10

Mike Mascia

Head of Fund Finance | EverBank

Mike Mascia is the former Chair of Cadwalader, Wickersham & Taft’s Finance Group and was a member of the firm’s Management Committee. He had a globally recognized fund finance practice, having represented lenders in subscription credit facilities to real estate and private equity funds sponsored by many of the world’s preeminent fund sponsors. He has been lead counsel on numerous hybrid facilities, and is one of the few attorneys in the United States with experience in both subscription credit facilities and CLO’s. Mike represents lenders on leverage facilities to secondary funds and other credits looking primarily to fund assets or NAV for repayment. Mike is the founder of the annual Global Fund Finance Symposium and he is a founding member and the Secretary of the Funds Finance Association.

Pierre Maugüé

Debevoise & Plimpton LLP

CFO and Rated Note Feeders

2:50 PM | 2023-02-09

Pierre Maugüé

Partner | Debevoise & Plimpton LLP

Pierre Maugüé is a finance partner in the London office of Debevoise & Plimpton.

Mr. Maugüé is recommended by The Legal 500 UK. The guide has described him as “exceptional,” “responsive, commercial and creative,” “technically very strong” and a trusted adviser who helps clients achieve goals in the most efficient manner. Mr. Maugüé is also recommended as a leading lawyer by IFLR1000 (2022).

Mr. Maugüé brings a global perspective to his work, having lived and worked in Asia, Europe and the United States. He joined Debevoise in 1999 in the firm’s Hong Kong office. He relocated to the New York office in 2002 before moving to London in 2014.

Mr. Maugüé writes frequently on legal matters related to finance topics and is also a regular contributor to the Debevoise & Plimpton Private Equity Report.

Mr. Maugüé received a Magistère and DESS in Business and Tax Law, with high honours, from the University of Paris II-ASSAS in 1991, and a Master of Laws in Comparative Jurisprudence from New York University in 1995.

Mr. Maugüé was admitted to the New York Bar in 1996 and as a solicitor in England & Wales in 2016.

James McDonald

TPG, Inc.

FX & Interest Rate Risk Considerations for Fund Managers

11:20 AM | 2023-02-09

James McDonald

Principal | TPG, Inc.

James McDonald leads TPG's foreign exchange and hedging activities. He focuses on designing and executing strategies that mitigate TPG's fund-level exposure to currency fluctuations. James also spends time with TPG portfolio company CFOs and Treasurers to assist with the structuring and implementation of hedges related to the management of both currency and interest rate risk. Prior to joining TPG, James worked for Bloomberg, where he was a derivatives and fixed income specialist. James is a CFA Charterholder, graduated from the University of Missouri-Kansas City with a Bachelor of Business Administration degree, and earned his MBA from the Texas McCombs School of Business.

Tina Meigh

Maples Group

Opening Remarks

9:00 AM | 2023-02-09

Tina Meigh

Partner | Maples Group

Tina is global head of Maples and Calder's Finance team and is based in the Maples Group's Cayman Islands office. She leads the Fund Finance and Derivatives practice groups and also has extensive experience in all aspects of banking and securitisations. Tina represents hedge funds, private equity funds and banks on fund finance and other lending transactions, bank products, deal structures and on all types of secured transactions. She advises a large number of international associations and financial institutions on derivatives and issues surrounding related collateral packages in the context of insolvency in the Cayman Islands. She also has significant experience of general corporate and commercial matters and the establishment of offshore investment funds.

Tina joined the Maples Group in 2005 and was elected as a partner in 2012. She previously worked for Lovells where she completed a secondment to Citibank. Tina has been recommended in Chambers Global, Legal 500 as a 'Leading Individual' and Who's Who Legal. Clients praise that she "continues to maintain her stellar reputation with company and financial institution clients. She is responsive, always well informed, and knowledgeable of the marketplace and its trends."

Tina sits on the Board and is Vice Chair of the Fund Finance Association, a non-profit association for the fund finance market. She is also a member of the Cayman Islands Legal Practitioners Association (CILPA).

Ray Meyer

Natixis Corporate & Investment Banking Americas

Secondaries & Continuations

1:40 PM | 2023-02-09

Ray Meyer

Managing Director, Head of Fund Finance Advisory & Origination | Natixis Corporate & Investment Banking Americas

Ray Meyer is a Managing Director and Head of Fund Finance Advisory & Origination of Natixis Corporate & Investment Banking Americas. Ray oversees the advisory and origination of Fund Finance related products for all clients across Investment Banking and Global Markets divisions and works alongside Client Captains and the Product Groups to grow our strategic offerings within Fund Finance. Ray also serves a dual role as Senior Coverage officer for a number of our larger clients within the Financial Sponsors Group.

The core mission of Fund Finance Advisory & Origination is to provide a single point of origination and excellence for our core clients looking to raise new capital and optimize leverage across their fund vehicles, integrating each of our core competencies in a product agnostic manner, inclusive of our Firm’s Green and Sustainable efforts.

Ray has 30 years of experience in banking and joined Natixis in 2002, serving most recently as Head of Financial Institutions Coverage, covering the larger FIG/FSG clients of the Firm and specializing in advising and originating unique Fund Finance solutions. He has been instrumental in Natixis’ growth and market leadership within the Fund Finance market. Prior to Natixis, Ray held roles at Lehman Brothers Investment Banking in the Financial Institutions Group, as well as Foreign Exchange Trading at Bear Stearns, BNP and Credit Suisse. Ray received a B.S. in Finance and Economics from New York University Stern School of Business, and an MBA from The Wharton Business School at the University of Pennsylvania.

Kevin Miller

Thorofare Capital

Fund Manager Developments

1:40 PM | 2023-02-09

Kevin Miller

CEO, Founder | Thorofare Capital

Kevin is the Chief Executive Officer (“CEO”) and founding member of Thorofare Capital and has been responsible for establishing the foundation of the firm’s core investment philosophy. Under Kevin’s leadership, Thorofare Capital has launched a series of private debt funds in addition to have structured two strategic partnerships to provide deal origination and loan servicing to DoubleLine Capital for their private equity funds. As the CEO, Kevin is responsible for the oversight of all aspects of the firm and is embedded in the capital formation and execution of each strategy the firm undertakes. Kevin began his career in commercial real estate insurance at Arthur J. Gallagher & Co., as part of a team that placed risk on over $65 billion of real estate annually. Kevin graduated from the University of Southern California, where he received a Bachelor of Arts in Economics. Kevin serves as a guest lecturer on the topics of real estate law and economics at his alma mater and is highly involved in the local community.

Nick Mitra

Société Générale

Titans in Finance – The Rise of Private Debt!

10:00 AM | 2023-02-09

Nick Mitra

Managing Director | Société Générale

Nick Mitra is a Managing Director in the Credit & Structured Financing platform at Société Générale. He is part of the team responsible for Capital Call, Hybrid, NAV facilities and PE Secondaries financings. Prior to joining Société Générale, Nick worked at Natixis where he headed the Capital Call financing business, He has also worked at Goldman Sachs and Accenture in different roles and was the CFO of an entrepreneurial start-up – UConnections.com – aimed at the education space. Nick started his career at Lehman Brothers as a trader’s assistant in the security lending/repo area. Nick has approximately 18 years of experience in the financial sector. Nick is also a co-founding member of the Fund Finance Association, an industry group dedicated to Fund Finance and related products, where he sits on the Board of the Association.

Nick holds an MBA in Finance from NYU and a BS in Finance from Lehigh University, and is a CFA charter holder. He is also the First Vice Chairman of the Fund Finance Association.

Brett Morrell

Derivative Path

FX & Interest Rate Risk Considerations for Fund Managers

11:20 AM | 2023-02-09

Brett Morrell

Head of Risk Solutions | Derivative Path

Brett Morrell is the Head of Risk Solutions at Derivative Path where he is responsible for providing derivatives technology, advisory, and execution services to private investment funds and their portfolio companies. Brett has over 15 years of derivatives experience and, most recently, spent 6 years in the Global Markets group of Hudson Advisors, where he was responsible for derivatives and capital markets activities related to the global private equity investments of Lone Star Funds and advising other global financial sponsors on their derivatives activities. Brett began his career at Wachovia / Wells Fargo focusing on derivatives sales and structuring for corporates and non-bank financial institutions.

Gregg Myers

Global Infrastructure Partners

Market Evolution & Industry Perspectives

11:20 AM | 2023-02-09

Gregg Myers

Partner | Global Infrastructure Partners

Gregg Myers is a Partner and GIP’s Chief Financial Officer, responsible for the firm’s finance and accounting functions. He is based in New York.

Prior to joining GIP, Mr. Myers was a Vice President in the Alternative Investments Department of Credit Suisse. He joined DLJ Merchant Banking Partners in 1998, which was merged to form Credit Suisse, and has been controller of a number of multi-billion dollar funds. Mr. Myers previously was Head of the Private Equity Department’s Budget and Forecasting group. He has also served in an operations capacity within CS Alternative Investments.

Mr. Myers holds an M.B.A. from the School of Management at the University of Buffalo and a B.S. in Accounting and Corporate Finance from the University of Buffalo.

Jad Nader

Ogier

Global Legal Update

1:40 PM | 2023-02-09

Jad Nader

Partner | Ogier

Jad's core practice is in handling cross-border lending transactions, advising on fund finance, acquisition finance, debt capital markets and debt restructuring. He has particular expertise in sophisticated international financing techniques and regularly acts for major international financial institutions and private equity houses.

Jad has more than 20 years' experience working on Luxembourg matters; he also worked for several years as head of the Luxembourg desk of a European law firm in New York.

He is a regular speaker, including at the Annual Fund Finance Symposiums in US and London, where he was invited to speak for the third year in a row.

Jad frequently publishes on subjects such as fund finance, cross-border lending, financial collateral, BRRD and banking regulations, securities law and restructuring and corporate recovery law. He sits on the editorial board of the Revue de Droit du Financement de l'Economie published by Legitech.

He is an active member of numerous Luxembourg and international professional associations, including the American Chamber of Commerce in Luxembourg (Amcham), the Luxembourg Association of Banking Lawyers (ALJB), the International Bar Association (IBA), the American Bar Association (ABA) and the New York Bar Association.

Jad holds postgraduate degrees in private international law (DEA) and IT law (DESS) as well as a doctor of laws.

Peter Nealon

ANZ

Subscription Finance Hot Topics

2:50 PM | 2023-02-09

Peter Nealon

Executive Director | ANZ

Peter Nealon is the Head of Financial Sponsor Coverage at Australia and New Zealand Banking Group Limited in North America. Peter manages a team responsible for providing financial sponsors with fund level financing solutions including subscription finance, hedging and treasury management services on a global basis.

Peter has extensive knowledge in the financial sponsor business spending almost 30 years covering asset manager, financial sponsor, and other financial institution clients. Previously he was a managing director at HSBC responsible for all non-bank financial institution clients. Prior to joining HSBC he worked at Citibank in their financial institutions business.

Peter earned a BS in Economics from Queens College in 1986.

Tom Nowak

BofA Securities, Inc.

Syndication Update

1:40 PM | 2023-02-09

Tom Nowak

Managing Director | BofA Securities, Inc.

Thomas (Tom) Nowak is a Managing Director in BofA Securities, Inc.’s market leading Syndicated Finance group. He is responsible for managing the Loan Syndicate and Distribution efforts supporting Subscription Finance clients across the bank. Clients include private equity opportunity funds, hedge funds, buy-out funds, credit funds, real estate funds, infrastructure and secondaries funds, as well as public pension plans and institutionally sponsored entities.

Mr. Nowak has 27 years of experience in structuring, syndicating and executing debt transactions across all levels of the capital structure. Prior to assuming his current role, he worked in investment banking as well as financial and economic consulting.

Tom holds Series 7, 24 and 63 licenses and is a graduate of the University of Notre Dame (BBA in Finance) and the University of Chicago Graduate School of Business (MBA in Finance and Accounting).

Joe O'Donnell

Morrison Foerster

Michael Orphanides

BMO Capital Markets

The Evolving Lender Landscape & Impacts on Balance Sheet Management

11:20 AM | 2023-02-09

Michael Orphanides

Managing Director | BMO Capital Markets

Michael Orphanides joined BMO in May 2019 as MD and Head, Asset & Wealth Managers, Corporate Banking, part of the Global FIG franchise. He is responsible for managing a team focused on the delivery of corporate banking products and services for the sector.

Prior to joining BMO, Michael held various roles across Coverage and Credit, covering FIG at Barclays, he started his Banking career in 2005 based in London. In 2008, Michael was responsible for establishing and developing coverage of US Funds & Asset Managers. He then moved to New York in 2011 to build the broader coverage of Financial Institutions in the Americas, where he was Head of FIG Corporate Banking, Americas. He was responsible for managing a team focused on the delivery of corporate banking products and services across Banks, Broker Dealers, Insurance, Funds & Asset Managers and Financial Technology sectors.

Michael has a BSc (Hons) in Computing of Mechanical Engineering from Brunel University.

Art Penn

PennantPark Investment Advisers

Titans in Finance – The Rise of Private Debt!

10:00 AM | 2023-02-09

Art Penn

Founder and Managing Partner | PennantPark Investment Advisers

Arthur H. Penn is the Founder and Managing Partner of PennantPark Investment Advisers (“PPIA") which was founded in 2007. Mr. Penn is Chairman and Chief Executive Officer of PennantPark Investment Corporation and PennantPark Floating Rate Capital, Ltd. Mr. Penn co-founded Apollo Investment Management in February 2004, where he was a Managing Partner through November 2006. He also served as Chief Operating Officer of Apollo Investment Corporation from its inception in February 2004 through February 2006 and served as President and Chief Operating Officer of that company from February 2006 through November 2006. Mr. Penn was formerly a Managing Partner of Apollo Value Fund L.P. (formerly Apollo Distressed Investment Fund, L.P.) from 2003 through November 2006. Mr. Penn previously served as Global Head of Leveraged Finance at UBS Warburg LLC (now UBS Investment Bank) from 1999 through 2001. Prior to joining UBS Warburg, Mr. Penn was Global Head of Fixed Income Capital markets for BT Securities and BT Alex. Brown Inc. from 1994 to 1999. From 1992 to 1994, Mr. Penn served as Head of High-Yield Capital Markets at Lehman Brothers. He holds a BS and an MBA from The Wharton School, University of Pennsylvania.

Seth Perlman

Morgan Stanley

CFO and Rated Note Feeders

2:50 PM | 2023-02-09

Seth Perlman

Executive Director | Morgan Stanley

Seth Perlman is an executive director at Morgan Stanley. He is part of the Securitized Products Capital Markets group, focusing on transactions backed by limited partnership interests in funds. In this role, he provides firm-wide structuring solutions to clients across lending, trading, and investment banking. Seth joined Morgan Stanley in 2014 as a member of the Securitized Products Group Structuring desk. He has since helped structure more than $18Bn in debt backed by LP interests, consumer loans, and esoteric assets. Seth holds a B.A. in Physics from Princeton University.

Anthony Pirraglia

Loeb & Loeb

Governance/Underwriting/Due Diligence

11:20 AM | 2023-02-09

Anthony Pirraglia

Deputy Chair, Finance | Loeb & Loeb

Anthony Pirraglia focuses his commercial finance practice primarily on fund financing transactions, representing both borrowers and lenders on unsecured and asset-based lending transactions. Valued by his clients for his practical, results-oriented approach, Anthony presents complex situations clearly and concisely to quickly achieve a successful transaction.

Anthony regularly represents mezzanine lenders, private equity funds and other investors in their loans to and investments in companies with acquisitions and corporate restructures. He also practices as special counsel, representing institutional lenders in direct placement of corporate securities.

He has significant experience advising on the structuring, documentation and negotiation of warehouse and other loan facilities and a wide variety of privately placed financial transactions, as well as leveraged buyouts, project and facility financing, real estate financings, and loan and other asset securitizations.

Anthony’s practice also includes a special emphasis on workouts, restructuring and bankruptcies of multiple-property credit tenant loan securitizations. His most notable workouts include the favorable liquidation and recovery on approximately 30 Borders credit tenant leases.

Anthony is a frequent speaker on fund financing. In his spare time, he enjoys everything car related but has not yet found time to learn to drive a stick shift.

Georgina Pullinger

Appleby

WFF Networking Lunch

11:30 AM | 2023-02-08

Fund Finance Market Update, ESG and Macro Developments

2:50 PM | 2023-02-09

Georgina Pullinger

Consultant | Appleby

Georgina Pullinger is a consultant within the Corporate practice group at Appleby in the Cayman Islands, focusing on banking and finance. She has extensive experience in all aspects of finance transactions, with a particular focus on fund finance, and also advises on a wide range of general corporate and commercial matters.

Prior to joining Appleby in 2014, Georgina worked in both London and Australia, where she advised on a range of renewable energy projects and finance matters.

Georgina is ranked by Chambers as “Band 3 – Corporate & Finance” and by Legal 500 as a “Next Generation Partner – Banking, Finance & Capital Markets".

Moses Rahnama

Preqin

Preqin Presentation

9:00 AM | 2023-02-10

Moses Rahnama

AVP Research Insights | Preqin

Moses has over 8 years of research experience in the financial markets in London and New York and has covered a range of asset classes. His investing experience include quantitative and fundamental strategies at DRW and Centenus Global Management (part of Millennium Management) where he covered commodities and equities. Moses’s research has been featured in major media outlets such as Financial Times and Bloomberg. Moses has an MBA from Columbia Business School and a bachelor’s degree in computer engineering.

Shana Ramirez

Katten

Syndication Update

1:40 PM | 2023-02-09

Shana Ramirez

Partner | Katten

Shana's multi-disciplined practice spans deals ranging from multibillion-dollar, broadly syndicated credit facilities to smaller bilateral loans. She has represented public companies, leading financial institutions and investment banks, private equity funds and private debt providers in a wide range of secured and unsecured financings, including acquisition financings, asset-based credit facilities, and restructurings and recapitalizations.

Her extensive experience in fund finance includes representation of both borrowers and lenders across multiple sectors, including private equity, real estate, infrastructure and private credit. In addition to closing a high volume of subscription line credit facilities, she has counseled clients on transactions ranging from hybrid facilities and loan-on-loan transactions to warehouse financings.

Shana's experience in both fund and portfolio level financings provides her with a unique perspective of the market that her clients rely on for their various financing needs.

Michael Rees

Blue Owl

First Mover Founders Panel

10:20 AM | 2023-02-10

Michael Rees

Co-Founder and Co-President | Blue Owl

Michael Rees is a Co-Founder and Co-President of Blue Owl, a member of the firm’s Executive Committee and a member of the firm’s board of directors. Michael also serves as the Head of Dyal Capital. Prior to founding Dyal, Michael was a founding employee and shareholder of Neuberger Berman Group, transitioning from Lehman Brothers as part of the management buyout transaction in May 2009, and was the first Chief Operating Officer of the NB Alternatives business following the founding. He had numerous roles at Lehman Brothers (2001 – 2009) and was responsible for strategic acquisitions for the Investment Management Division there. From 2003 through 2006, he was Head of Asset Management Strategy. Prior to Lehman Brothers, he was an associate at Marakon Associates.

Michael received a BS in Mechanical Engineering and a BA in Political Science from the University of Pittsburgh. He received a Master’s in Mechanical Engineering and a Master’s in Technology Policy from Massachusetts Institute of Technology. He currently serves on the Board of Directors of The Opportunity Network, a non-profit that supports underserved students with postsecondary and career readiness education.

Danielle Roman

Mourant

Closing Remarks

5:00 PM | 2023-02-09

Danielle Roman

Partner | Mourant

Danielle is a Partner in Mourant’s Banking and Finance team in Hong Kong, having practiced in Asia for over 15 years. She advises on a broad spectrum of cross-border transactions, including asset finance (with particular expertise in aviation and shipping finance), fund financing, acquisition and leveraged finance, debt restructurings, project finance, FinTech and general corporate lending.

In fund financing, she regularly represents investment and commercial banks on subscription credit facilities. She is also Co-Head of the Asia-Pacific Executive Committee for the Fund Finance Association, and is on the board of directors of Women in Fund Finance Asia. Danielle has been recognised for her work in fund finance through awards such as the Dee Dee Sklar Women in Fund Finance Award 2020.

Prior to joining Mourant in 2012, she worked at Clifford Chance in Hong Kong and Dentons in London.

Linda Rowland

Ares Management

Secondaries & Continuations

1:40 PM | 2023-02-09

Linda Rowland

Managing Director, Secondaries Group | Ares Management

Ms. Rowland is a Managing Director in the Ares Secondaries Group, where she leads the Capital Markets activities for the secondaries verticals. Prior to joining Ares in 2021, she was a Principal at Landmark Partners, where she specialized in private equity secondary transactions and was engaged in the underwriting, negotiation, structuring and execution of Landmark's private equity investments. Ms. Rowland had an active role in the evaluation and investment recommendations for Landmark's three most recent private equity secondary funds. Ms. Rowland holds a B.A. from Tufts University in Economics. She is a CFA® charterholder.

Maude Royer

Loyens & Loeff

Global Legal Update

1:40 PM | 2023-02-09

Maude Royer

Partner | Loyens & Loeff

Maude Royer, partner, is a member of the Investment Management Practice Group of Loyens & Loeff Luxembourg. She focuses on fund finance transactions and is a member of the Private Equity team. Maude acts on a full range of finance transactions, with particular focus on fund finance. She acts at all levels of the fund capital structure, advising investment funds (including real estate, private equity, infrastructure and debt funds, as well as funds of funds), fund managers and financial institutions. Her expertise includes capital call financing, GP financing, NAV financing and other hybrid products, asset-based financing, real estate financing and general corporate financing.

Samina Sajanlal

CIBC Capital Markets

Fund Finance Market Update, ESG and Macro Developments

2:50 PM | 2023-02-09

Samina Sajanlal

Managing Director, Global Fund Finance, Corporate Banking | CIBC Capital Markets

Samina Sajanlal is the global head for the Fund Finance product originated by CIBC Capital Markets, managing the Global Fund Finance team responsible for providing fund-level financing solutions to sponsors and asset managers across United States, Canada and Europe. Samina has extensive knowledge and experience covering NBFI clients for lending and trading products across multiple jurisdictions. Prior to joining CIBC in 2020, Samina spent 14 years at Scotiabank holding progressively senior roles within Corporate Banking, Specialized Credit and Risk Management also leading the NBFI credit function based in London, England for 5 years. Samina started her career on the buy side at Northwater Capital Management on the Hedge Fund Investments desk based out of Toronto, Canada. Samina has an MBA, specializing in Finance, from the Rotman School of Management at University of Toronto and is a CFA Charterholder.

Mary Jo Sanderson

Värde Partners

Governance/Underwriting/Due Diligence

11:20 AM | 2023-02-09

Mary Jo Sanderson

Managing Director | Värde Partners

Mary Jo Sanderson is a Senior Managing Director and Global Head of Fund Analytics & Risk Management at Värde Partners. Working directly with the Global CIO function, she is responsible for supporting portfolio management and driving risk management decisions and capital efficiency across the Värde fund complex. Her responsibilities include fund level financing, capital optimization, investment allocations and portfolio analytics. Based in Minneapolis, she joined the firm in 2009.

Prior to joining Värde, Mary Jo was the senior finance officer for Homecomings Financial, a division of GMAC Financial Services where she was responsible for mergers and acquisitions, financial analytics and risk management. Prior to GMAC, Mary Jo was a vice president at Piper Jaffray in the mergers and acquisitions group and an investment banking analyst at Goldman Sachs.

Mary Jo graduated from Duke University with a B.A. in Public Policy Studies and received an M.B.A. from Stanford University.

Ed Saunders

Goodwin Procter LLP

NAV, Hybrids and Preferred Equity: An International Perspective

2:50 PM | 2023-02-09

Ed Saunders

Partner | Goodwin Procter LLP

Ed Saunders is a partner and co-chair of Goodwin’s Fund Finance Group. He is also in the Business Law department, a member of its Private Equity group and Debt Finance legal practice area.

Ed has acted for managers, general partners, funds, banks, non-bank lenders, and other market participants on a range of products across the fund finance sector. His extensive experience includes advising on subscription line, umbrella and managed account financings, net asset value (“NAV”) and hybrid fund facilities across various asset classes, preferred equity arrangements and management and co-investment liquidity lines.

He has also counselled clients including private equity, real estate, debt and infrastructure funds on various financing elements of fundraisings and investor negotiation.

Ed is listed as a key lawyer for Fund Finance by Legal 500, with the practice also ranked. Client testimonials include “I would recommend Edward Saunders for the quality of service and level of commitment towards getting the deal done on a compressed timeline.”

Darren Schluter

PJT Partners

Secondaries & Continuations

1:40 PM | 2023-02-09

Darren Schluter

Managing Director | PJT Partners

Darren Schluter is a Managing Director in the Secondary Advisory Group of PJT Park Hill at PJT Partners, based in New York. Prior to joining PJT Park Hill in 2011, Mr. Schluter was part of the private equity team at Landmark Partners where he sourced and underwrote secondary investments. Prior to Landmark, he worked in the M&A and capital markets groups at ABN AMRO. Mr. Schluter has over 18 years of investment banking, private equity, and secondary market experience. He is responsible for advising financial sponsors and limited partners in secondary market transactions including fund continuation vehicles, single asset/direct investments, LP fund portfolio sales, team spin-outs, GP stakes, structured solutions including preferred equity and NAV financings as well as direct investments. Mr. Schluter received a BA in Economics from Williams College and a MBA from the Kellogg School of Management at Northwestern University.

Additional Mr. Schluter serves on the Board of Directors for the Friends of Governors Island and Fiver Children’s Foundation.

Alexa Schult

First Republic Bank

Market Evolution & Industry Perspectives

11:20 AM | 2023-02-09

Alexa Schult

Director | First Republic Bank

Alexa is currently a Director on the NY Private Equity Finance Team at First Republic Bank and has 8 years of experience working with alternative investment firms. Since 2015, Alexa has been focused on providing liquidity solutions to private equity firms, to their funds under management and to the general partners. Alexa was named as one of the Fund Finance Association’s 2020 Rising Stars and has been a member of the Association’s NY NextGen Committee since inception.

Eric Schwitzer

Paul Hastings

Global Legal Update

1:40 PM | 2023-02-09

Eric Schwitzer

Partner, Real Estate Department | Paul Hastings

Eric Schwitzer is a partner in the Real Estate practice of Paul Hastings and is based in the firm’s New York office. He practices in all areas of commercial real estate transactions, with a primary focus on real estate and real estate related corporate finance. Mr. Schwitzer represents major financial institutions, developers, and private equity funds in connection with complex domestic and international commercial matters, including cross-border investment platforms, corporate credit facilities, capital commitment-backed subscription credit facilities, commercial loans, restructurings, bankruptcy, loan sales, loan workouts, acquisitions, and dispositions.

Mr. Schwitzer received his J.D. degree from Hofstra University, School of Law in 2008, where he served as the Senior Associate Editor of the Hofstra Law Review. Mr. Schwitzer earned his B.A. in political science from Boston University in 2005.

Pramit Sheth

Whitehorse Liquidity Partners

CFO and Rated Note Feeders

2:50 PM | 2023-02-09

Pramit Sheth

Senior Principal, Head of Structured Products | Whitehorse Liquidity Partners

Pramit Sheth joined Whitehorse Liquidity Partners in 2023 and has 18 years of credit experience in the structured and fund finance industry. Prior to joining Whitehorse, Pramit spent 12 years with Kroll Bond Rating Agency as a Senior Managing Director. In his most recent role there, Pramit was accountable for all new and existing Investment Funds debt ratings globally. Prior to that he was a senior member of the CMBS Structured Finance Ratings team, where he helped develop various methodologies and was part of the analytical credit team. Pramit holds a Bachelors Degree in Finance and Information Systems with a concentration in Mathematics from NYU’s Stern School of Business.

Marc Silva

UBS

New Suppliers of Capital in Fund Finance

1:40 PM | 2023-02-09

Marc Silva

Global Head, Private Equity Subscription & Partner Finance | UBS

Marc manages the financial sponsors debt finance team at UBS. He oversees its subscription finance, general partner / co-investment finance, and management company lending programs. In addition to the origination, structuring, and underwriting of these credit products, Marc and team provide sponsors and their portfolio companies an entryway into many other products and solutions within the firm.

Prior to joining UBS, Marc spent over fifteen years at Citigroup, the last ten of which were in various roles of developing and growing their subscription lending business.

Marc graduated from Boston University with a B.S in Biomedical Engineering and holds a graduate degree in finance from New York University.

Guy Simpson

Bridge Bank

Jasjit Singh

Apollo Global Management

Dee Dee Sklar

Women in Fund Finance

First Mover Founders Panel

10:20 AM | 2023-02-10

Dee Dee Sklar

Co-Chair | Women in Fund Finance

Dee Dee Sklar is a Board and Advisor Candidate. As a senior banking executive with global experience in banking and alternatives, she has managed global businesses providing financing and other solutions to private equity firms, portfolio companies, and asset managers across three international banks. Dee Dee retired from her role as Vice Chair, Subscription Finance at Wells Fargo. She is the current Global Co-Chair of Women In Fund Finance and is a part of the Fund Finance Association’s business development initiatives. She is a member of the Cerberus Operating and Advisory Company Competitiveness Council , 17Capital’s Strategic Advisory Board and Tealbook’s AI Supply Chain Technology’s Business Advisory Board.

Sherri Snelson

White & Case

New Suppliers of Capital in Fund Finance

1:40 PM | 2023-02-09

Sherri Snelson

Partner | White & Case

Sherri Snelson is a partner in White & Case's Debt Finance practice, based in New York. Sherri has extensive experience acting as lead counsel for fund finance lenders and borrowers, in connection with leveraged finance and fund/portfolio finance transactions. Sherri is dual qualified in New York and England & Wales and practiced previously in the UK. Sherri has acted as lead counsel on hundreds of finance transactions that span a wide array of industries and jurisdictions throughout the Americas, Europe and Asia.

Barry Sternlicht

Starwood Capital Group

Fireside Chat with Barry Sternlicht, Starwood Capital Management

4:10 PM | 2023-02-09

Barry Sternlicht

Founder, Chairman & CEO | Starwood Capital Group

Barry Sternlicht is Chairman & CEO of Starwood Capital Group, the private alternative investment firm he formed in 1991 focused on global real estate, hotel management, oil and gas, and energy infrastructure. Mr. Sternlicht also serves as Chairman of the Board of Starwood Property Trust (NYSE: STWD), a leading diversified finance company; as well as a Senior Advisor of Invitation Homes (NYSE: INVH) the largest publicly traded investor, owner and operator of single-family homes in the U.S.

For the past 31 years, Mr. Sternlicht has structured investments with an asset value of over $200 billion. Starwood Capital’s funds have invested in approximately 210,000 residential units, 3,500 hotels, 100 million square feet of office properties, 58 million square feet of retail and 65,000 lots of land in residential subdivisions. The Firm currently manages in excess of $120 billion of assets on behalf of its high net worth and institutional partners. Starwood Capital also manages Starwood Property Trust (NYSE: STWD), the largest commercial mortgage real estate investment trust in the United States, which has successfully deployed over $93 billion of capital since inception and manages a portfolio of over $27 billion across debt and equity investments

Starwood Capital, its affiliates and externally managed public companies employ more than 4,500 professionals, while approximately 9,000 additional employees are involved with a dozen portfolio operating companies. The Firm maintains offices in Arlington, Atlanta, Chicago, Dallas, Greenwich, Los Angeles, Miami, New York, San Francisco, and Washington, D.C., and affiliated offices in Amsterdam, Hong Kong, London, Luxembourg, Sydney and Tokyo.

From 1995 through early 2005, Mr. Sternlicht was Chairman and CEO of Starwood Hotels & Resorts Worldwide, a company he founded in 1995. During his tenure, he built Starwood Hotels into one of the leading hotel and leisure companies in the world, employing more than 120,000 people with 895 properties in 100 countries. Mr. Sternlicht created W Hotels, perhaps the world’s most successful “boutique” brand, and built the St. Regis Hotels brand from a single hotel to a global brand.

In 2008, Mr. Sternlicht founded SH Hotels & Resorts, his new hotel management company. SH Hotels & Resorts is the parent company of 1 Hotels, Baccarat Hotels & Resorts, and Treehouse Hotels brands.

In 2020, Mr. Sternlicht was the recipient of CPE’s Executive of the Year Award. 2016, Mr. Sternlicht was the recipient of PERE’s inaugural Lifetime Achievement Award. In 2015, he was named the Global Industry Figure of the Year by PERE, received the Cornell Icon of the Industry Award and the Lifetime Achievement Award from the International Hotel Investment Forum. In 2013, Mr. Sternlicht was named the Most Important Person in Commercial Real Estate Finance by The Mortgage Observer. In 2010, Mr. Sternlicht was named Executive of the Year and Investor of the Year by Commercial Property Executive. Mr. Sternlicht was also named America’s Best Lodging CEO by Institutional Investor Magazine. He is a member of the Interior Design Magazine Hall of Fame. He has received the Preston Robert Tisch Distinguished Industry Leadership Award from New York University, the CEO Diversity Award from Diversity Best Practices/Business Women’s Network, the Lifetime Achievement Award from the Association of Travel Marketing Executives, the Hospitality Heritage Award from the American Hotel and Lodging Association, and the Marketer of the Year Award from Brandweek. Mr. Sternlicht’s humanitarian efforts have garnered prestigious national honors such as JDRF’s Man of the Year, JDRF’s Living and Giving Award and JDRF’s Chairman’s Award.

Mr. Sternlicht serves on the Board of Directors of The Estée Lauder Companies and the Real Estate Roundtable. Additionally, he formally served as Chairman of the Board and is currently a Board member of The Robin Hood Foundation, and also serves on the Boards of the Dreamland Film & Performing Arts Center, and the Executive Advisory Board of Americans for the Arts. He is a member of the U.S. Olympic and Paralympic Foundation Trustee Council, the World Presidents Organization and the Urban Land Institute.

Barry Sternlicht received his BA, magna cum laude, with honors from Brown University. He later earned an MBA with distinction from Harvard Business School.

Patricia Teixeira

Ropes & Gray

Michael Timms

17Capital

NAV, Hybrids and Preferred Equity: An International Perspective

2:50 PM | 2023-02-09

Michael Timms

Investment Director | 17Capital

Michael Timms joined 17Capital in 2021 and is an Investment Director in San Francisco. Prior to joining 17Capital Michael worked as a Director in Wells Fargo Financial Institutions Group where he spent 8 years in the Subscription Finance business, the last 5 years of which were spent developing Wells Fargo’s Subscription Finance business on the West Coast. Michael has 13 years’ experience in investment banking and Private Equity.

Daniel Toblib

Macquarie Group

NAV, Hybrids and Preferred Equity: An International Perspective

2:50 PM | 2023-02-09

Daniel Toblib

Head of Fund Finance Origination, APAC | Macquarie Group

Daniel Toblib is the Head of Fund Finance Origination for Asia-Pacific (APAC) at Macquarie Bank. In his role, Daniel partners with private equity, private credit and hedge fund sponsors and investors to provide fund financing solutions.

Daniel has been at Macquarie since February 2016 and covers APAC from the firm’s global headquarters in Sydney.

Notably, Daniel spent over 5 years in New York, where he led Macquarie’s Fund Finance structuring function across North America. Over this time, he built deep expertise in providing bespoke and innovative financing solutions across the fund lifecycle, where the Fund Finance business was recognised on multiple occasions as PDI’s Fund Financier of the Year in the Americas.

Daniel has a Bachelor of Commerce (Distinction) and Bachelor of Economics (Distinction) from the University of New South Wales, Australia.

Mary Touchstone

Simpson Thacher & Bartlett LLP

Day 2 Opening Remarks

9:00 AM | 2023-02-10

Mary Touchstone

Partner and Head of Fund Finance Practice | Simpson Thacher & Bartlett LLP

Mary Touchstone is a Partner and Head of the Fund Finance Practice at Simpson Thacher & Bartlett LLP. Mary has helped to establish Simpson Thacher as a global leader in the representation of financial sponsors in fund financings. She is widely acknowledged as a leading lawyer in the subscription credit facility market and represents many of the world’s preeminent sponsors of private equity, real estate, energy, infrastructure, debt and other investment funds on the largest and most complex fund facilities.

Mary and her team regularly work on a wide variety of fund level financings, including secured and unsecured subscription (or capital call) facilities, with borrowing capacity for the fund as well as its parallel funds, alternative investment vehicles and portfolio companies; fund guarantees and other credit support of portfolio level financings; NAV-based facilities and hybrid variations provided as aftercare facilities for funds that are later in their life cycles with less uncalled capital and more portfolio asset value; credit facilities for managed account vehicles; employee co-investment loan programs; management lines to investment advisers for working capital purposes; and liquidity financings for registered funds.

Ryan Troiano

MUFG Investor Services

Market Evolution & Industry Perspectives

11:20 AM | 2023-02-09

Ryan Troiano

Executive Director, Fund Financing | MUFG Investor Services

Ryan Troiano is the Americas lead for the MUFG Investor Services Fund Finance team. Ryan has been leading the expansion of MUFG Investor Services' Fund Finance business since joining in 2019 and is currently responsible for originating and executing fund finance related credit facilities. In addition to NAV and subscription finance, Ryan has extensive experience in fund administration and alternative asset management. He was with UBS for more than 6 years before joining MUFG Investor Services, negotiating credit facilities for its Hedge Fund Solutions division. In addition to working at Coast Asset Management for 5 years, Ryan also worked for J.P. Morgan Private Equity and Real Estate Services, and State Street Institutional Investment Services.

Taylor Trotter

Citizens Bank

Subscription Finance Hot Topics

2:50 PM | 2023-02-09

Taylor Trotter

Director | Citizens Bank

Taylor Trotter is a Director in the Subscription Finance Group at Citizens. Based in Charlotte, Taylor covers private fund clients across the United States focusing on origination, structuring and execution of subscription facilities as well as commercial banking relationship management for fund finance clients. Prior to joining Citizens in 2018, Taylor worked at Bank of America Merrill Lynch in London and Charlotte focusing on the bank stress testing, recovery & resolution planning, and corporate treasury. Taylor graduated from Clemson University with a Bachelor of Science in Finance.

Craig Unterberg

Haynes Boone

NAV, Hybrids and Preferred Equity: An International Perspective

2:50 PM | 2023-02-09

Craig Unterberg

Managing Partner – New York | Haynes Boone

As a member of Haynes Boone’s Executive Committee and the managing partner of the firm’s New York office, Craig is a market leader in handling complex onshore and offshore fund financing and margin loan facilities. Craig focuses his practice on NAV facilities, fund of funds financings, margin loans, and other structured equity transactions on behalf of financial institutions, private equity funds, and hedge funds. He heads up the firm’s New York-based Structured Equity Practice Group and advises clients on complex Regulation U and other regulatory matters. Chambers USA cites a client who states that Craig “is always constructive and communicates well... [H]e has been invaluable to us in assessing possible courses of action and providing advice that is practical and business-savvy." As the former head of the firm’s Finance Section, Craig also represents borrowers and lenders in the leveraged lending, asset-based, and M&A financing spaces. Clients also look to Craig to handle loan restructurings and DIP facilities. Craig has received wide recognition from industry publications, including being named a 2019 “Trailblazer” by New York Law Journal (ALM Media Properties, LLC), an honor bestowed on select “innovators and thought leaders” who have made “significant marks” on the legal industry. He is a member of the Community Assistance Panel for Marines stationed on Camp Lejeune and is the immediate past president of the American Jewish Committee’s NY Region.

Patrick Vatel

BNY Mellon

A Fireside Chat with Damien Dwin

9:10 AM | 2023-02-09

Patrick Vatel

Managing Director | BNY Mellon

Patrick Vatel is Managing Director and Chief Lending Officer of BNY Mellon. In this role, Patrick leads lending activities across BNY Mellon and co-manages the bank’s global credit portfolio. Patrick has held various senior leadership roles at BNY Mellon over his 25-year career across Corporate Banking, Client Management, Asset Servicing, and Institutional Credit. Patrick joined The Bank of New York in 1998 as a management associate and was named Managing Director in 2006.

Patrick serves as a member of the Board of Directors of The Bank of New York Mellon Trust Company, N.A. He is a member of BNY Mellon’s Asset & Liability and Portfolio Management Committees and serves on the global leadership team of IMPACT, BNY Mellon’s multicultural business resource group. He serves on the College Advisory Council of The University of Chicago.

Patrick holds a B.A. from The University of Chicago and an M.P.A. from Columbia University’s School of International & Public Affairs.

William Wallace

SMBC

Fund Finance Market Update, ESG and Macro Developments

2:50 PM | 2023-02-09

William Wallace

Managing Director | Head of Origination and Execution of Fund Finance Solutions | SMBC

William Wallace is a Managing Director and the Head of Origination and Execution within SMBC’s Fund Finance Solutions Department (“FFSD”). Within FFSD, William has responsibility over the entire client focused platform where he sets the team’s go to market strategy across Subscription Finance, NAV, Hybrid and other forms of fund financing. William previously worked in SMBC’s Global Financial Institutions Group (“GFIG”) where he ran the Funds and Sponsors team within the broader Americas Financial Institutions Group. Within Funds and Sponsors, William had responsibility for SMBC’s Global Sponsor Coverage, Asset Manager Coverage and Hedge Fund Coverage functions.

William joined SMBC in June 2014 within the Global Financial Institutions Group and prior to joining SMBC, Mr. Wallace spent 8 years at BNP Paribas most recently in a cross-product coverage group (Equities, Fixed Income, Commodities) within BNP Paribas’ Global Markets division focusing on the largest Asset Manager and Hedge Fund trading counterparties. Before that, Mr. Wallace worked in the Financial Institutions Group covering a wide assortment of financial institutions including Asset Managers, Private Equity Funds, Banks, Specialty Finance Companies and Mortgage Companies. Before BNP Paribas, Mr. Wallace worked at PricewaterhouseCoopers. Mr. Wallace has a Masters in Accounting and a Bachelor of Science in Business Administration both from Washington University in Saint Louis.

Annie Wallis

Sidley Austin LLP

NAV, Hybrids and Preferred Equity

11:20 AM | 2023-02-09

Annie Wallis

Partner | Sidley Austin LLP

Annie Wallis is a partner in the Chicago office. She practices in the Global Finance group. Her practice includes secured and unsecured lending transactions, cash flow and asset based leverage facilities, merger and acquisition financing, mezzanine and second lien financings, debt restructurings, private debt and financings of alternative assets, including financings for investment funds and asset managers (such as NAV facilities, fund-of-fund facilities, margin loans, and capital call facilities), and film, media and entertainment financing. She represents lenders, participants, agents, sponsors, originators and borrowers in single-bank and syndicated credits. Her clients include investment banks, commercial banks, hedge funds, private equity funds and public and private companies.

Annie completed a two-month assignment in Sidley’s Sydney, Australia office, representing foreign private issuers and investment banks in a number of different institutional debt private placements, including traditional 4(a)(2) private placements and Rule 144A offerings.

Variety has named Annie to its Legal Impact Report for 2019 and 2021, and its Dealmakers Impact Report for 2020. She was recognized for her work on behalf of MUFG Union Bank in connection with the Weinstein Co. and Open Road Films bankruptcies, representing The Raine Group in the launch of Thrill One Sports & Entertainment, and for her work in representing film production and distribution company Neon Rated.

Jenna Willis

Carey Olsen

Global Legal Update

1:40 PM | 2023-02-09

Jenna Willis

Partner | Carey Olsen

Jenna is a partner in the corporate and finance group of Carey Olsen's Cayman Islands office. She advises on a broad range of banking and finance transactions as well as general corporate, commercial and regulatory matters.

Jenna also has expertise advising on financial restructurings including Cayman Islands schemes of arrangement. She has advised on numerous complex cross-border restructurings, insolvencies, refinancings, distressed M&A, security enforcement and high yield bond restructurings.

Jenna is a member of 100 Women in Finance, INSOL International, IWIRC, RISA (Cayman Islands) and the Cayman Islands Legal Practitioners Association (CILPA).

David Wilson

17Capital

First Mover Founders Panel

10:20 AM | 2023-02-10

David Wilson

Partner and Co-Head of Credit | 17Capital

David is a Partner, Co-Head of Credit and a member of the Investment Committee at 17Capital, the go-to global source of strategic finance for investors in private equity. 17Capital has raised $10 billion, including the recent closing of its inaugural €2.6 billion Credit Fund, and has deployed over $9 billion across over 80 investments. In March 2022, 17Capital announced a strategic partnership with Oaktree in which Oaktree will acquire a majority stake in 17Capital. The partnership will give 17Capital access to Oaktree’s deep global network. David is based in London and focuses on investments, client solutions and capital markets activities.

David joined 17Capital from J.P. Morgan where he spent 12 years in the structured financing business, having previously held positions at Lehman Brothers and Ernst & Young, where he started his career as a chartered accountant.

David holds a Bachelor’s degree in Mechanical Engineering at Leeds University and has a Master’s degree in Finance at the London Business School.

Jasen Yang

Apollo Global Management

NAV, Hybrids and Preferred Equity

11:20 AM | 2023-02-09

Jasen Yang

Managing Director, Credit | Apollo Global Management

Jasen Yang is a Managing Director at Apollo, where he is responsible for deploying capital into fund finance solutions within the Credit business. Prior to joining Apollo in 2021, Jasen was Managing Director and Head of US Credit Structuring at BNP Paribas. Previously, he was Founder and CEO of a financial technology company, and Partner and Head of Structuring at C12 Capital Management before that. Jasen has also held a variety of proprietary trading and structured finance roles at Barclays Capital, Deutsche Bank, and Credit Suisse First Boston. Jasen graduated cum laude from Yale University with a BS in Mathematics.

Michelle Khalili Yuhas

PNC Capital Markets

Subscription Finance Hot Topics

2:50 PM | 2023-02-09

Michelle Khalili Yuhas

Managing Director | PNC Capital Markets

Michelle Khalili Yuhas is a Managing Director in PNC’s Financial Institutions Group (“FIG”) specializing in asset managers, wealth managers and other diversified financial institutions. She is responsible for the origination, structuring and execution of corporate credit transactions as well as the relationship management of select financial services clients of PNC. Michelle joined PNC in 2017.

Prior to joining PNC, Michelle spent a number of years at Capital One, where she was a Senior Vice President focusing on growing various aspects of their Commercial Banking business – specifically in the areas of Loan Syndications, FX and Interest Rate Derivatives, as well as in their Middle Market Banking division. She also spent a few years managing Capital One’s Treasury Operations group. Prior to that, Michelle spent several years at Credit Suisse in Fixed Income Derivatives, Structured Debt Capital Markets, and Investment Banking covering a number of FIG clients. Michelle started her career at Prudential Investments as a member of their Fixed Income Mutual Fund Management team. Michelle is a graduate of Wellesley College with a B.A. in Economics.

Platinum Sponsors

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 57 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

www.bankofamerica.com

Barclays

Barclays Investment Bank deploys financial solutions to help our clients with their funding, financing, strategic and risk management needs across sectors, markets and economies.

The Investment Bank is comprised of the Investment Banking, International Corporate Banking, Global Markets and Research businesses, aiding money managers, financial institutions, governments, supranational organisations and corporate clients around the globe. We offer a full spectrum of strategic advisory, financing and risk management solutions to help drive innovation and growth.

For over 330 years, our commitment to shared success has been at the heart of what we do, because we are all at our best when we all progress.

BNY Mellon

BNY is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally to access the money they need. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of September 30, 2024, BNY oversees $52.1 trillion in assets under custody and/or administration and $2.1 trillion in assets under management.

Cadwalader, Wickersham & Taft LLP

With over 230 years of legal experience, Cadwalader, Wickersham & Taft LLP serves a diverse client base, including many of the world’s leading financial institutions, funds and corporations, as well as individual private clients. With offices in New York, Charlotte, Washington, D.C., London and Dublin, Cadwalader offers legal expertise in antitrust, banking, corporate finance, corporate governance, energy, environmental, executive compensation, finance, financial restructuring, health care, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense. Cadwalader has more than two decades of experience in fund finance, providing practical, yet cutting-edge advice to a wide variety of financial institutions active in the space. The Fund Finance team is a recognized leader in subscription finance, NAV transactions, and in pioneering innovative solutions that leverage the firm’s market-leading securitization and regulatory capital advisory practices.

Carey Olsen

Carey Olsen is a leading offshore law firm. Our fund finance specialists have extensive experience of advising on all types of lending to investment funds in Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey and Jersey.

Our lawyers regularly deal with subscription facilities, GP leverage, co-invest facilities as well as hybrid and NAV based arrangements, with loan sizes ranging from tens of millions to billions of dollars. We work alongside all of the major onshore law firms, accountancy firms and insolvency practitioners on corporate transactions and matters involving our jurisdictions.

Our advice is delivered by an approachable and experienced team of globally-minded lawyers who work in partnership with our clients to help them achieve their objectives. We have the expertise and resources to handle the most complex international transactions combined with a personal approach to business.

CIBC

CIBC is a leading North American financial institution with 13 million clients offering a full range of advice, solutions and services in the United States, Canada and around the world. CIBC Capital Markets provides best-in-class insight, advice, and execution across corporate banking, global markets, investment banking, and research to institutional, corporate, public and private sector clients across North America, Europe, and rest of the world. CIBC Innovation Banking serves the innovation economy by providing valuable access, capital and connections. The team and network help make today’s companies tomorrow’s market leaders. In the US, CIBC Bank USA provides a range of banking solutions, and CIBC Private Wealth offers investment management, wealth strategies and legacy planning.

City National Bank

City National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $92 billion in assets as of July 31, 2024. Founded in 1954, City National provides personalized banking, investment and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C. and Miami.* In addition, the company and its investment affiliates manage or administer $101 billion in client investment assets. City National is dedicated to strengthening communities, and in 2023 alone, the company made more than $11 million in charitable contributions to nonprofits that support the communities it serves.

For more information about City National, visit the company’s website at cnb.com.

*City National Bank does business in Miami and the state of Florida as CN Bank.

Haynes and Boone

Haynes Boone is a leading U.S. corporate law firm whose attorneys were instrumental in developing the structure and documentation for subscription financing in the early 1990s. With over 30 years of industry experience in the global subscription financing market, our Fund Finance Practice has worked through numerous business cycles, taking a multi‐disciplinary approach to working with clients and their customers on each transaction, preserving the lender‐borrower relationship by conducting all negotiations with an understanding of the fund’s business issues, while preserving each fund’s relationship with its investors. Our work in the global subscription financing market has been recognized by The Drawdown as Fund Finance Advisory Firm of Year and by Private Equity International’s Global Annual Awards as one of the top law firms in the “Transactions” category for both Asia and North America. Our global team’s focus is a collaborative team approach with an emphasis on partner‐led deals. Our fund finance team of over 70 attorneys and specialists advises on all types of fund finance including subscription financing, NAV/Hybrid, unencumbered asset pool financing, employee co-invest, GP support and management fee financings. Haynes Boone has offices in New York, California, Charlotte, Chicago, Denver, Washington D.C., London, Mexico City, Shanghai and across Texas, representing agent banks in Fund Financings in Asia, Europe, Latin America and North America. With over 700 lawyers, Haynes Boone is ranked among the largest U.S.‐based firms by The National Law Journal.

Kirkland & Ellis

Kirkland & Ellis provides exceptional service to clients around the world in complex corporate and tax, litigation, intellectual property, restructuring and counseling matters. The Firm offers clients the unsurpassed resources of a large, integrated, multidisciplinary, global team of more than 3,500 attorneys across 20 cities in New York, Chicago, Austin, Beijing, Boston, Brussels, Dallas, Hong Kong, Houston, London, Los Angeles, Miami, Munich, Palo Alto, Paris, Riyadh, Salt Lake City, San Francisco, Shanghai, and Washington, D.C.

Kirkland is a global leader in providing sophisticated advice to investment fund sponsors, institutional investors and other market participants in the alternative investment fund space. Kirkland’s strength lies in our unique ability to bring together best-in-class lawyers in all major markets across an extensive, cross-border private equity platform in the United States, Europe and Asia-Pacific. With more than 570 dedicated Investment Funds attorneys, no other law firm matches the breadth, depth and scope of Kirkland’s experience in investment funds legal services. In addition to offering one of the largest and most active investment funds practices in the world, Kirkland’s platform also includes a dedicated fund finance bench that brings in-depth practical market knowledge to a wide range of financing structures. Since 2018, Kirkland has executed more than 1,000 fund financing transactions for over 400 clients, including more than 110 NAV facilities, representing approximately $248 billion in aggregate transaction value.

Latham & Watkins LLP

The Latham fund finance team represents private debt and private equity firms, as well as financial institutions, in structuring and executing a wide range of subscription credit facilities and other fund-level financings in a variety of industries. We work in tandem with colleagues across Latham practices and global offices to develop innovative fund-level financing structures that account for the full spectrum of tax, finance, and regulatory issues that sponsors and investors face.

Given our experience with a wide variety of fund-level financing structures, we routinely advise clients on everything from capital call facilities, NAV financings, ESG-linked facilities, and general partner facilities, to multi-currency and multi-jurisdictional financings, as well as cash-flow and asset-based loans. Our fund finance team leverages deep experience and relationships across private capital, financial institutions, and the investment funds industries to help clients navigate complex transactions at the forefront of the market.

We work seamlessly with the Latham global corporate, finance, investment funds, and tax teams to find solutions that allow clients to achieve their most critical commercial objectives.

Lloyds Bank

Lloyds Bank Corporates & Institutional

Since 1765, we have been providing expert support and guidance to businesses of Britain. Supporting British businesses and the UK economy continues to be central to what we do.

Our Corporate and Institutional franchise maintains active relationships with two-thirds of the FTSE 350, supporting clients with annual turnover in excess of £100m.

With a well-established sector focus, we continue to drive our purpose outcomes by supporting goals such as regional development and building on our green financing initiatives to support more clients with their transition plans.

We support clients with their core banking solutions such as lending, deposits, transaction banking and risk management services. We also provide extensive expertise in capital markets, financial markets and private equity, all of which aim to meet the varying and often complex needs of our clients.

To find out more about Lloyds Bank Corporates and Institutional head over to our website:

Corporate Banking | Business Banking | Lloyds Bank

Loyens & Loeff

Loyens & Loeff is a leading law firm with integrated legal and tax practices. We handle all matters relating to investment funds, banking, corporate, private equity, real estate and tax law. Our offices in the Benelux and Switzerland mainly represent banks, financial institutions, investment funds and corporations, operating internationally.

The fund finance team of Loyens & Loeff advises in relation to the structuring of fund finance transactions and the related security packages. Relying on our extensive experience in the structuring of capital call subscription credit facilities, permanent leverage facilities and GP facilities, we handle transactions involving alternative or regulated investment fund borrowers of all types, sizes and asset classes. Major lenders, investment fund managers, sponsors and market players in both the US and European markets count on our expertise regarding fund finance transactions. Our dedicated fund finance team has successfully acted for the most active international banks, arrangers, lenders and fund managers in these markets.

Mayer Brown

Mayer Brown, the founding sponsor of the Annual Subscription Facility and Fund Finance Symposium, is a global legal services organization advising clients across the Americas, Asia and Europe. Our presence in the world’s leading markets enables us to offer clients access to local market knowledge combined with global reach. Mayer Brown’s finance platform is based on the Firm’s global position and our balanced and integrated practice, which encompasses all the focused skill sets that our clients demand— from cross-border acquisition finance and international capital markets work to project finance, structured finance, and derivatives.

Mayer Brown is a market leader and has acted as Adviser to Lenders and Funds on over 500 subscription credit facilities in the last two years. The firm has relationships with every major US lender along with the majority of active lenders in the European and Asian markets. The team has led transactions funded by balance sheet lenders and commercial paper conduits as well as large syndicated facilities to accommodate various types of insurance companies. Its lawyers are experienced documenting the full suite of fund and portfolio-level financings including subscription-backed credit facilities, NAV facilities, private placements, equity commitment facilities, hybrid facilities, open-end fund facilities, management fee credit lines and an assortment of leveraged asset level transactions.

Mizuho Americas

Mizuho Financial Group, Inc. is the 17th largest bank in the world as measured by total assets of ~$2 trillion, according to S&P Global 2024. Mizuho’s 65,000 employees worldwide offer comprehensive financial services to clients in 36 countries and 850 offices throughout the Americas, EMEA, and Asia.

Mizuho is a leading provider of corporate and investment banking, capital markets, equity and fixed income sales & trading, derivatives, FX, custody, and research to corporate, private equity, and institutional clients. Through its acquisition of Greenhill, Mizuho provides M&A, restructuring, and private capital advisory capabilities across Americas, Europe, and Asia. Mizuho employs approximately 3,500 professionals, for more information visit www.mizuhoamericas.com.

Morrison & Foerster LLP

Morrison Foerster is a leading global law firm that transforms complexity into advantage for its clients. Our clients include some of the largest financial institutions, banks, consulting and accounting firms, and Fortune 100, technology, and life sciences companies. Highlighting the firm’s commitment to client service, leadership in market-changing deals and impact litigation, and values-based culture, Morrison Foerster has been named to The American Lawyer’s A-List for 20 of the ranking’s 21 years. Year after year, the firm receives significant recognition from Chambers and The Legal 500 across their various guides, including Global, USA, Asia Pacific, Europe, UK, Latin America, and FinTech Legal. Our lawyers passionately care about delivering legal excellence while living our values.

Mitsubishi UFJ Financial Group (MUFG)

Mitsubishi UFJ Financial Group (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo, MUFG has a global network that includes over 1,800 locations in more than 50 countries. With close to 150,000 employees and approximately 300 entities worldwide, MUFG provides access to commercial banking, trust banking, securities trading services, credit cards, consumer banking and finance, asset management, leasing, and other services. Through close partnerships with its operating companies, MUFG aims to “be the world’s most trusted financial group” by responding flexibly to customers’ financial needs, serving society, and fostering shared and sustainable growth for a better world. MUFG shares trade on the Tokyo, Nagoya, and New York (NYSE:MUFG) stock exchanges.

MUFG Investor Services

MUFG Investor Services is a leading solutions provider for the global alternative investment management industry. From 17 locations around the world, MUFG Investor Services, through its suite of solutions, helps clients mitigate risk, execute seamlessly, and increase efficiencies across their pre- and post-trade operations. With more than $1 trillion in assets under administration, MUFG Investor Services is one of the top fund administrators globally and provides a broad range of solutions including administration, asset servicing, banking and liquidity, corporate and regulatory services, financing, business consulting, and more. Its nearly 500 clients represent funds across the public and private markets, including hedge funds, fund of funds, private equity, private debt, real assets, infrastructure, mutual funds, venture capital, and more. MUFG Investor Services is a division of Mitsubishi UFJ Financial Group, Inc (MUFG) one of the largest banks in the world with approximately $3 trillion in assets. To learn more, please visit us at www.mufginvestorservices.com.

Natixis Corporate & Investment Banking

Natixis Corporate & Investment Banking is a leading global financial institution that provides advisory, investment banking, financing, corporate banking and capital markets services to corporations, financial institutions, financial sponsors and sovereign and supranational organizations worldwide.

Our teams of experts in about 30 countries advise clients on their strategic development, helping them to grow and transform their businesses, and maximize their positive impact. Natixis CIB is committed to aligning its financing portfolio with a carbon neutrality path by 2050 while helping its clients reduce the environmental impact of their business.

As part of the Global Financial Services division of Groupe BPCE, the second largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks, Natixis CIB benefits from the Group’s financial strength and solid financial ratings (Standard & Poor's: A+, Moody's: A1, Fitch: A+, R&I: A+).

Ogier

Recommended as a top-tier firm by Legal 500, Ogier has advised on fund finance since the inception of the funds industry, regularly acting for banks, financial institutions, funds and sponsors on a full range of fund finance transactions. The firm's specialists are highly accomplished and many of its lawyers have been actively involved in drafting key legislation that underpins the fund structures in BVI, Cayman Islands, Guernsey, Ireland, Jersey and Luxembourg, making Ogier the only firm to advise on those six laws. The diverse nature of Ogier's practice provides its team with valuable insight and understanding of the funds market and the legal and commercial issues relevant to borrowers and lenders alike. With a growing team of more than 1,000 people across 12 of the world's most distinguished international finance centres, Ogier's 'hands-on' partner-led teams ensure a consistent approach, while providing responsive and practical advice.

Visit www.ogier.com to read more about Ogier's fund finance offering and see the global team.

RBC

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 100,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 18 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com. Additionally, we are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.

Reed Smith

Reed Smith is a market-leading international law firm specializing in fund finance. With more than 1,600 lawyers across more than 30 offices, we advise lenders and funds on capital call/subscription lines, NAV and asset-backed facilities, secondary funds facilities, hybrid facilities, co-investment and GP/manager support facilities and other fund liquidity facilities in the United States, Europe, the Middle East and Asia. We have one of the largest team of fund finance lawyers globally and provide specialist advice on the new and developing products in this area. Reed Smith has particular capability with financings of direct lending, secondary and PE funds. Reed Smith’s fund finance team sits within our Financial Industry Group, that contains more than 194 lawyers who provide dedicated multi-jurisdictional services to clients in the financial sector, focusing on finance, funds, and investment management, regulatory, tax, litigation and commercial restructuring and bankruptcy.

Simpson Thacher & Bartlett LLP

Simpson Thacher & Bartlett LLP (www.simpsonthacher.com) is one of the world’s leading international law firms. The Firm was established in 1884 and today has more than 1,300 lawyers. Building on over 135 years of experience, the Firm has played a substantial role in many of the most complex and noteworthy transactions and matters of the last decades. Headquartered in New York with offices in Beijing, Brussels, Hong Kong, Houston, London, Los Angeles, Palo Alto, São Paulo, Tokyo and Washington, D.C., the Firm provides coordinated legal advice and transactional capability to clients around the globe.

The Firm offers a market-leading fund finance practice with deep experience providing fund- and asset-level leverage solutions for private equity, real estate, investment, special situations and infrastructure funds. Complementing the Firm’s preeminent private funds practice, our global fund finance team represents clients across a broad spectrum of transactions encompassing all aspects of the investment management business.

Societe Generale

Societe Generale is a top tier European Bank with more than 126,000 employees serving about 25 million clients in 65 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective - to deliver sustainable value creation for all our stakeholders.

The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.

Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

For more information, visit societegenerale.com.

UBS

UBS Group AG is a multinational financial services company founded and based in Switzerland. It maintains a presence in all major financial centers as the largest Swiss banking institution and the largest private bank in the world.

UBS Global Wealth Management provides comprehensive advice, solutions, and services to wealthy families and individuals. Its fully integrated set of capabilities include wealth planning, investment management, capital markets, banking, lending, institutional, and corporate financial advice.

UBS Investment Bank provides corporate, institutional and wealth management clients with expert advice, innovative solutions, execution, and comprehensive access to international capital markets.

Working together, UBS Global Wealth Management and the UBS Investment Bank provide custom solutions and best-in-class service to the world’s most established financial sponsors.

http://www.ubs.com

Walkers

Walkers' global fund finance group comprises dedicated fund formation and finance lawyers who act on complex and innovative fund financing solutions and advise clients across the world’s financial markets. As one of the first offshore teams to work on subscription line credit transactions and hedge fund financing platforms, for both lender and borrower clients, we provide an unmatched depth of expertise across our global network in the Americas, EMEA and Asia. In a volatile world we are a safe pair of hands in safe jurisdictions.

Our fund financing teams have been at the forefront of the development of the fund finance market in these regions, working closely with leading financial institutions, investment managers and law firms. Our people and our approach to solving our clients challenges are tried and tested, but that doesn’t mean we ever stand still.

Walkers' global fund finance group provides commercially focused advice to both lenders and borrowers on a range of financing solutions. Our multi-disciplinary team has an in-depth understanding of the structures used by investment managers and the legal and commercial issues relevant to fund finance providers. Our clients include agents, banks, alternative lenders and investment fund managers, including private equity, credit, real estate and hedge funds. Markets change, regulation evolves, businesses adapt, and we keep on reinventing our service for the times we find ourselves in.

Wells Fargo Bank

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy.

Gold Sponsors

17Capital

17Capital is a private credit manager, specializing in NAV finance for the private equity industry. It provides non-dilutive capital to high-quality private equity management companies, funds, and institutional investors as part of their toolkit for value creation and portfolio management.

Founded in 2008, 17Capital has completed over 100 investments and 50 exits, deploying more than $13 billion since inception. 17Capital has raised $13 billion across six successive funds and mandates. . In July 2022, 17Capital announced the completion of Oaktree’s acquisition of a majority interest in 17Capital. The partnership will give 17Capital access to Oaktree’s deep global network. Following the closing of the transaction, 17Capital, will continue to operate as an independent business, with its own product offerings and investment, marketing, and support teams.

Allvue

Allvue is a leading provider of technology for investment managers in the private capital and credit markets industry. Its mission is to empower superior investment decisions by pairing modern cloud-based software solutions with capabilities across multiple asset classes. Allvue’s software solutions serve the entire investment lifecycle and are seamlessly integrated to provide a comprehensive product suite, serving investment managers of all sizes worldwide. With a commitment to innovation and a focus on multiple asset classes, Allvue’s software solutions allow its clients to operate and grow their businesses more effectively by automating manual processes, improving data accuracy and consistency across workflows, and delivering enhanced analytics.

AlpInvest Partners

AlpInvest Partners is one of the largest private equity managers in the world, with over $85 billion of total capital committed and over 455 investors across its platform globally, as of September 30, 2022. AlpInvest commits across the private equity spectrum on a global basis, including large and middle market buyout, growth capital, venture capital, and distressed / special situations, as well as private subordinated debt. These investments generally fall within three investment strategies: direct subscriptions for interests in private equity funds sponsored by third-party managers, secondary purchases of interests in private equity funds and private operating companies, financings backed by private equity funds, GPs and LPs, and co-investments in single portfolio companies alongside leading GPs.

Assured Guaranty

With $11 billion in claims-paying resources and over three decades of structured finance and infrastructure finance experience, Assured Guaranty is the world’s leading provider of financial guaranty insurance. Its U.S., U.K. and French insurance subsidiaries work with banks, investors, issuers, arrangers and their advisors to provide cost-effective credit enhancement for capital market financings in developed markets around the world. Assured Guaranty guarantees timely principal and interest payments, improving the creditworthiness, potential marketability and market liquidity in both new and secondary markets for consumer and commercial asset-backed securities, collateralized loan obligations (CLOs), infrastructure financings and subscription finance. Assured’s guaranty enables risk transfer in public or private transactions for banks, insurance companies and asset managers to optimize the risk profile, internal exposure limits and capital consumption of existing and prospective portfolio exposure. Learn more at AssuredGuaranty.com.

BMO Capital Markets

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.41 trillion as of October 31, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society. 

Commonwealth Bank of Australia (CBA)

Headquartered in Sydney, Australia, and with offices in Europe, the US and Asia Pacific, Commonwealth Bank of Australia (CBA) is a leading provider of personal banking, business and institutional banking and share broking services in Australia. CBA has a strong balance sheet, with total assets exceeding $A1,200 billion (as of 30 June 2024).

CBA is strategically positioned to work with clients across global markets, while connecting non-Australian clients to opportunities both in Australia and around the world. As custodian of Australia’s largest customer transactional data set, CBA can connect global clients to Australian opportunities backed by data-generated insights. Our scale enables us to unlock alternative pools of liquidity and capital, with strong executional capabilities complemented by a network of corporate referrals and diverse international expertise.

The Institutional Banking & Markets division offers a full range of capital raising solutions and financial markets capabilities, as well as transactional and risk management products and services.

Conyers

Conyers is a leading international law firm with a broad client base including global financial institutions, Fortune 500 companies and asset managers. The Firm advises on Bermuda, British Virgin Islands and Cayman Islands law, from offices in those jurisdictions and in the key financial centres of Hong Kong, London and Singapore.

Conyers’ market-leading fund finance team in the Cayman Islands is dedicated to advising the world’s leading banks and financial institutions on all aspects of fund finance transactions involving Cayman parties including subscription-based, NAV and hybrid transactions. With a proven track record of acting for the leading players in the market we are ideally placed to assist you in structuring and completing complex transactions in a timely and efficient manner.

For more information, click here: https://www.conyers.com/legal-services/finance/fund-finance/

Debevoise & Plimpton

Debevoise & Plimpton LLP is a premier law firm with market-leading practices and a global perspective. Approximately 800 lawyers work in nine offices across three continents, within integrated global practices, serving clients around the world.

The firm has extensive experience in all aspects of fund-level financing transactions for different types of investment funds and their managers. It has been regularly representing sponsors for more than a decade in a broad range of transactions, including subscription credit facilities, leveraged portfolio acquisition and other asset-based financings, hybrid facilities, management company liquidity facilities and co-investment facilities.

Debevoise’s fund finance practice is global in nature, with strong teams in the U.S., Europe and Asia advising an international client base.

Deutsche Bank Wealth Management

Deutsche Bank is the leading German bank with strong European roots and a global network. The bank focuses on its strengths in a Corporate Bank newly created in 2019, a leading Private Bank, a focused investment bank and in asset management. Deutsche Bank provides financial services to companies, governments, institutional investors, small and medium-sized businesses and private individuals. The Investment Bank focuses on its traditional strengths in financing, advisory, fixed income and currencies.

Deutsche Bank is an active participant in the fund finance market and has arranged or supported as a member of a wider syndicate a variety of transactions. Deutsche Bank is well-placed as a reliable funding partner particularly on bespoke financing solutions and can help the sponsors achieve a variety of objectives through a wide product suite. Deutsche Bank is a global financial services provider that takes a holistic view of sponsor client relationships and can cater to multiple objectives, asset types and structures. Deutsche Bank’s multi-currency and jurisdictional solutions are especially advantageous for EU and US based sponsors seeking to execute on European opportunities or opportunistic add-on acquisitions to platform/portfolio companies and clients are provided with connectivity to Deutsche Bank’s overall platform, when desired. Deutsche bank’s structuring capabilities are best in class with customizable solutions aimed at achieving goals prescribed by the sponsor. Deutsche Bank has financing capabilities across a broad spectrum of assets, matching the breadth of Deutsche Bank Structured Finance platform.

East West Bank

East West Bank provides financial services that help customers reach further and connect to new opportunities. East West Bancorp, Inc. is a public company (NASDAQ: “EWBC”) with total assets of $72.5B. The company’s wholly-owned subsidiary, East West Bank, is the largest independent bank headquartered in Southern California. EWB Private Equity, with offices in New York, Los Angeles, Silicon Valley and Hong Kong, is the Bank’s largest industry specialty group, with in-depth knowledge of the fund finance market. The Private Equity Group provides creatively designed credit solutions to meet the fund financing needs of a wide range of asset management firms, funds and partnerships. We support clients at all stages of the investment lifecycle with capital call lines and NAV facilities, as well as hybrid facilities which blend the two. We provide these lines to traditional funds, SMAs and high net worth investor feeder funds. For management companies and general partners, we craft facilities supported by management fees and general partner stakes to provide liquidity and investable capital.

Fitch Ratings

As one of the world’s top three credit ratings agencies, Fitch Ratings plays a critical role in global capital markets by providing supplementary credit analysis, ratings, research, and commentary to financial market participants.

For over 100 years, Fitch Ratings has been creating value for global markets through its rigorous analysis and deep expertise, which have resulted in a variety of market leading tools, methodologies, indices, research, and analytical products. Fitch Ratings is part of Fitch Group, a global leader in financial information services with operations in more than 30 countries, which also includes Fitch Solutions.

With dual headquarters in London and New York, Fitch Group is owned by Hearst.

For additional information, please visit fitchratings.com.

Fund Finance Partners

Fund Finance Partners (“FFP”) is led by a team of finance and asset management professionals dedicated to the innovation and growth of debt capital solutions for private and public fund sponsors. Our partners have overseen numerous types of fund finance products, spanning various fund sponsors, asset managers, investors, investment strategies, lenders and types of collateral. Whether it's the most complex of hybrid facilities, the simplest subscription financings, or debt capital for the fund sponsor's platform, FFP has the track record and network to implement these solutions, start to finish. Our streamlined approach saves time and money for all parties, allowing fund sponsors to focus on their core investment strategies and asset management goals. For more information, visit fundfinancepartners.com or email us at info@fundfinancepartners.com.

Goodwin

At Goodwin, we partner with our clients to practice law with integrity, ingenuity, agility, and ambition. Our 2,000+ lawyers across Europe, the United States and Asia excel at fund formation, complex transactions, high-stakes litigation and world-class advisory services in the private equity, technology, life sciences, real estate, and financial industries. In the fund finance space, we represent sponsors, lenders and other market participants on management financings, subscription lines, NAV facilities, secondaries transactions and an array of other innovative liquidity solutions. The firm’s unique combination of deep experience serving both the innovators and the investors in a rapidly-changing, technology-driven economy sets Goodwin apart. To learn more, visit, us at www.goodwinlaw.com and follow us on Twitter, LinkedIn and Instagram.

ICBC New York Branch

Industrial and Commercial Bank of China (ICBC) is one of the world’s largest banks and topped the list of largest public companies on the Forbes Global 2000 list in 2023. Leveraging the expertise of ICBC group's industry leading banking teams and global distribution network, ICBC New York Branch's fund finance practice represents fund sponsors and asset managers on a wide array of fund-related financing and loan transactions. Our fund finance team has extensive experience in, amongst other things, bridge/subscription finance facilities, BDC finance, umbrella facilities, financing of asset management companies, and other bespoke credit facilities and liquidity solutions for various entities across the broader private equity business structure. The team also works hand in hand with clients to open the doors to certain opportunities such as exploring private equity businesses in Asian market, and other ancillary products, including FX, derivatives, and DCM that match clients' individual needs.

Katten

Katten is a full-service law firm with approximately 700 attorneys in locations across the United States and in London and Shanghai. Clients seeking sophisticated, high-value legal services turn to Katten for counsel locally, nationally and internationally. The firm’s core areas of practice include private credit, corporate, financial markets and funds, insolvency and restructuring, intellectual property, litigation, real estate, structured finance and securitization, transactional tax planning and private wealth. Katten represents public and private companies in numerous industries, as well as a number of government and nonprofit organizations and individuals. For more information, visit katten.com.

Loeb & Loeb

Loeb & Loeb is a premier law firm with more than 450 lawyers across eight offices in the United States and Asia. Loeb lawyers are at the forefront of market developments and events that have the potential to impact our clients. We advise financial institutions lending to private equity and other investment funds at all stages, whether prior to initial investor closing or after the investment period has ended, and for funds that vary widely in structure, focus and goals. We also help market participants (including syndication agents, lenders, administrative agents and others) in structuring, negotiating and implementing subscription or capital call facilities, net asset value-based facilities and hybrid facilities. Loeb lawyers provide clients in the United States and across the globe with in-depth market knowledge, practical and innovative solutions, and effective representation to get their deals done and to meet their goals. Connect with us and experience the difference.

Maples Group

The Maples Group, through its leading international legal services firms, advises global financial, institutional, business and private clients on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg, and is an independent provider of fiduciary, fund services, regulatory and compliance, and entity formation and management services. Combining the Maples Group’s leading finance and investment funds capability, the Group’s Fund Finance team has widespread experience in advising on all aspects of fund finance and related security structures for both lenders and borrowers.

The Maples Group distinguishes itself with a client-focused approach, providing solutions tailored to their specific needs. Its global network of lawyers and industry professionals are strategically located in the Americas, Europe, Asia and the Middle East to ensure that clients gain immediate access to expert advice and bespoke support, within convenient time zones.

Visit www.maples.com for more information about our global fund finance team and our legal and fiduciary services.

Morgan Stanley Private Wealth Management

Mourant

Our cross-practice fund finance team advises open-ended and closed-ended funds established in the Cayman Islands, the BVI, Jersey, Guernsey and Luxembourg, as well as bank and non-bank lenders to those funds.

We regularly advise on the structuring and implementation of subscription credit lines, NAV facilities (including hybrid arrangements), GP loans and other fund level leverage and related security arrangements. We often do so in conjunction with leading law firms onshore.

Our ‘one firm’ approach means that working together with clients we deliver seamless, objective and commercially grounded advice on the comparative advantages and disadvantages of the leading offshore fund jurisdictions. Our team exercises true commercial judgment in delivering advice often going the extra mile, with a personal approach, and forming genuine partnerships with our clients and their advisers. Clients benefit from our teams working together and making things happen in this way, resulting in deals being delivered on time and within budget.

Visit www.mourant.com to find out more.

National Australia Bank (NAB)

National Australia Bank (NAB) is a leading Australian bank. Our global Corporate and Institutional Bank serves Financial Institutions and Corporates through our offices in Australia, Asia the US and Europe. The New York based team provide full relationship services, originating and executing product solutions with a focus on infrastructure, sustainability and investor solutions. We work with some of the leading participants in the infrastructure sector – leading deals across all market segments including renewables, energy, resources, transport and commodities – and coordinate closely across fund and asset level exposures. We have a dedicated Funds business which operates globally through US, UK, Asia and Australia which provides banking and markets solutions for asset managers and financial sponsors. We are an agent for subscription financing and credit facilities for private and publicly listed funds.

Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 21 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2021, Northern Trust had assets under custody/administration of $16.2 trillion, and assets under management of $1.6 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Northern Trust has a team of specialized professionals servicing private equity firms through the delivery of a unique mix of corporate banking, fund administration and wealth management solutions. Northern Trust’s highly focused strategy and long-term commitment to the private equity market has been a major driver of the success of our sponsor finance business.

PJT Partners Inc.

PJT Partners Inc. (“PJT”) is a global advisory-focused investment bank. Our team delivers a wide array of strategic advisory, secondary advisory, shareholder and corporate governance advisory, restructuring and reorganization and fund placement services to corporations, financial sponsors, institutional investors and governments. Our Private Capital Solutions team provides tailored advice to clients seeking to address asset, fund and portfolio liquidity considerations across a wide array of LP and GP-led transactions. Our practice is one of the most experienced teams in the industry, and has been involved in some of the largest, most complex transactions since the team’s founding in 2008. Our specialized team focuses on delivering independent advisory and execution services to financial sponsors and institutional investors across a broad spectrum of strategic transactions including Financial Sponsor, Institutional Investor, and Structured Liquidity Solutions.

Proskauer

Proskauer’s fund finance practice represents private funds, regulated investment companies, fund investors and lenders on a full range of financing transactions in the U.S. and the U.K. Our team provides innovative solutions at all levels of the capital structure, on matters involving secured and unsecured subscription/capital call facilities, NAV facilities, secondaries acquisitions, and GP, management and co-investment facilities. We have helped clients with leveraged secondary transactions for some of the world’s largest secondary funds, warehouse facilities for middle market lending joint ventures, NAV facilities backed by life insurance policies and hybrid facilities. We also employ a network of seasoned professionals across the firm, enabling us to understand any fund vehicle and appreciate the deal points that concern all parties.

Ropes & Gray

Ropes & Gray, a preeminent, global law firm, has been ranked in the top-three on The American Lawyer's prestigious "A-List" for eight years and is ranked #1 on Law.com International's "A-List" in the U.K.—rankings that honor the "Best of the Best" firms. The firm has approximately 1,500 lawyers and legal professionals serving clients in major centers of business, finance, technology, and government in Boston, Chicago, Dublin, Hong Kong, London, Los Angeles, New York, San Francisco, Seoul, Shanghai, Silicon Valley, Singapore, Tokyo and Washington, D.C. The firm has consistently been recognized for its leading practices in many areas, including asset management, private equity, M&A, finance, real estate, tax, antitrust, life sciences, health care, intellectual property, litigation & enforcement, privacy & cybersecurity, and business restructuring.

Scotiabank

Scotiabank’s vision is to be our clients’ most trusted financial partner, to deliver sustainable, profitable growth and maximize total shareholder return. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at July 31, 2024), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS).

Global Banking and Markets (GBM) conducts the Bank’s wholesale banking and capital markets business with corporate, government and institutional investor clients. GBM is a full-service wholesale bank and investment dealer in Canada and Mexico and offers a range of products and services in the U.S., Latin America and in select markets in Europe, Asia and Australia. For more information, please visit https://www.gbm.scotiabank.com/en.html.

Sidley Austin LLP

Sidley is an elite global law firm powered by lawyers who practice at the highest level of the profession. Backed by 158 years of experience, we deliver superior service to a high-caliber group of market-leading clients worldwide, while placing a premium on collaboration and diversity. Our firm boasts a roster of 2,300 lawyers who wield deep experience in transactional, regulatory, and litigation matters spanning over 50 legal disciplines and industries.

Our fund finance practice is a team of highly skilled and dedicated practitioners at the forefront of the rapidly expanding fund finance market. With vast experience in all types of fund financing products we build and maintain deep relationships with fund, borrower, and lender side clients. We have experience with every major investment fund strategy and asset class, including many esoteric asset classes, and we represent our clients in all aspects of the structuring, negotiation, administration, restructuring, and termination of fund finance transactions. With 21 offices situated in major commercial and financial capitals around the world, our lawyers possess the cultural awareness and legal acumen needed to advise clients in today’s global economy.

We are nationally recognized by several industry publications, including:

Tier 1 national ranking in Banking and Finance Law

U.S. News – Best Lawyers “Best Law Firms” (2010 – 2024)

Consistently recognized as a leading firm for Banking and Finance

Chambers USA (2007 – 2024)

State Street

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $46.8 trillion in assets under custody and/or administration and $4.7 trillion* in assets under management as of September 30, 2024, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

* Assets under management as of September 30, 2024 includes approximately $83 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

SuMi TRUST

Established in 1925, Sumitomo Mitsui Trust Bank, Limited (“SuMi Trust”) is the largest Japanese trust bank, providing a wide range of banking and fiduciary services to its customers. In its domestic Japanese market, SuMi Trust business covers asset management, corporate and structured financing, real estate brokerage, mortgage loan and retail banking. In international market, SuMi Trust has branches in major global financial centers, where it is primarily focused on banking activity – most notably corporate and structured finance. SuMi Trust is well known not only for working openly and collaboratively with its banking clients, but also for seeking opportunities to introduce its Japanese investor partners enhanced investment solutions in line with its trust bank heritage.

Validus

Validus is a leading independent financial services firm, providing market risk management, fund finance advisory and technology solutions to the alternative investment industry. Our 200+ retainer clients have more than $3.2 trillion in combined assets under management.

Since 2010 we have delivered market-leading risk management solutions for alternative investment firms, mitigating exposures such as foreign currency or interest rates. Our award-winning service also includes turnkey solutions to the operational challenge of implementing, managing and monitoring hedging programs, through dedicated resources and proprietary technology.

In addition, since 2018 we have provided expert advice and resources to sponsors seeking to establish, refinance and re-negotiate fund finance facilities. Our unique position in the industry enables us to help clients navigate and benchmark the market, design and evaluate optimal structures, and negotiate terms to best meet their requirements. We also provide automated technology solutions to help clients meet ongoing operational requirements related to their financing facilities.

Silver Sponsors

Alston & Bird

Alston & Bird’s corporate debt finance team has experience in virtually every aspect of the debt capital markets across the spectrum of transaction types and settings, representing private equity sponsors and their portfolio companies, corporate borrowers, private credit funds, and commercial banks engaged in public and private, domestic and cross-border financings. We represent players throughout the U.S., Europe, the Middle East, and Africa in investment-grade and leveraged syndicated credits, senior secured unitranche financings, second-lien financings, mezzanine financings, asset-based lending, acquisition financings, dividend and other recapitalizations, fund finance, high yield bond and other public and private debt issues, restructurings and workouts.

We draw on our experience representing both borrowers and lenders to focus on business issues of true significance in order to effectively and efficiently close deals. We work as a cross-disciplinary team, including attorneys with experience in tax, bankruptcy and creditors’ rights, health care, hospitality, construction, litigation, ERISA, environmental, land use, securities, banking regulation, funds, REITs, and dispute resolutions to provide a seamless experience for clients in large, complex financing transactions.

Arthur Cox LLP

Arthur Cox LLP is one of Ireland’s leading law firms. We have been at the forefront of developments in the legal landscape here for over 100 years, establishing one of the largest and most innovative law firms in the country – a firm that stands at the front of the industry. We are an “all-island” firm with offices in Dublin and Belfast. We also have offices in London, New York, and San Francisco. Our practice encompasses all aspects of corporate and business law.

With 600 legal staff and a total headcount of 900, we provide a comprehensive service to an international client base ranging from multinational organisations, banks, and financial institutions and established global leaders to government agencies and new players in emerging industry sectors.

Our story has been defined by our progressive outlook. For over 100 years, we have led the way in the legal field in Ireland, and have continuously worked to strive towards our goals. For our clients, we work to deliver the best service and support. With an independent, entrepreneurial spirit of innovation leading the way.

Bank of China U.S.A.

Established in 1912. Bank of China (BOC) is the oldest bank in China and the first commercial bank publicly listed in both the Mainland and Hong Kong. As the fourth largest bank in the world, BOC has over 305,000 employees in 62 countries and regions, with $4.2 trillion in assets.

Established in 1981, as a global bank with a local heart, Bank of China U.S.A. has established an integrated platform to serve as a bridge between U.S. and Chinese businesses and to play an integral role in the U.S. communities in which we operate. The main pillars of BOC NYB’S operation include: corporate banking, personal banking, financial institutions, trade services, commodities finance, global market services, and other commercial banking business.

Fund Finance is an important business for Bank of China U.S.A., which covers top tier PE and credit fund sponsors by providing a broad range of products and services for fund clients.

BC Partners Credit

BC Partners Credit was launched in 2017 and seeks to provide a full credit cycle investment platform, allocating liquid and illiquid capital to the middle market. We invest diverse pools of capital across the risk / return spectrum totaling $6.9 billion of AUM, which gives us the flexibility to propose solutions tailored to each borrower’s unique objectives. This allows BCP Credit to be a value-added partner who can scale throughout the borrower’s life cycle. Recognized as a leader and early mover in GP and NAV financing, BCP Credit has deployed over $600mm across a substantial GP/NAV portfolio as alternative managers search for creative financing solutions to address the current themes of (1) slower fundraising, (b) delayed exits, and (c) increased investor demand for returned capital.

China Merchants Bank

Founded in 1987, the Company is headquartered in Shenzhen, China. The Company mainly focuses on the market in China with branches primarily covering major cities in the Chinese mainland, as well as international financial centres such as Hong Kong of China, New York, London, Singapore, Luxembourg and Sydney. The Company was listed on the Shanghai Stock Exchange in April 2002 and the SEHK in September 2006.

In July 2023, the Company received the award of “Best Bank in China” at the “2023 Awards for Excellence” ceremony staged by Euromoney (UK) for the fifth consecutive year, marking the first “5-year championship streak” in its awarding history, and was also the only Chinese bank to receive the “Awards for Excellence” in that year.
In July 2023, the Company ranked 11th on the list of “Top 1,000 World Banks 2023” released by The Banker (UK), ranking first in the best performing Chinese banks for three consecutive years.
The list of Fortune Global 500 was officially released in August 2023, on which the Company ranked 179th and making the list for 12 consecutive years.
In June 2023, the US-based Institutional Investor magazine released the results of the “2023 All-Asia Executive Team”, recognising the Company as the bank with the highest overall ranking and the most awards in the Asian region. The Company won several awards, including “Best Board of Directors”, “Asia’s Most Respected Company”, “Best IR Company” and “Best ESG Company”.

Clifford Chance LLP

Clifford Chance is one of the world’s pre-eminent law firms, with the depth and range of resources to help our clients across all the major global financial centres. As a single, fully integrated partnership, we pride ourselves on our ability to work seamlessly across national borders and product areas to deliver broad industry expertise and local knowledge. Clifford Chance brings a market-leading fund finance proposition, advising lenders, investors and sponsors/GPs on a wide range of financing options, including capital call / bridge facilities, leveraged NAV facilities and borrowing base deals (including hybrid facilities), along with facilities for general partners, preferred equity arrangements and non-bank financing. Our global funds/funds formation practice of over 130 lawyers works in tandem with our lending, corporate and regulatory teams to provide a complete fund financing platform for our clients.

ING

ING is a global bank with a strong European base. Our more than 60,000 employees offer retail and wholesale banking services to customers in over 40 countries.

Our purpose is to empower people to stay a step ahead in life and in business.

Our products include savings, payments, investments, loans and mortgages in most of our retail markets. For our Wholesale Banking clients we provide specialised lending, tailored corporate finance, debt and equity market solutions, sustainable finance solutions, payments & cash management and trade and treasury services.

Customer experience is what differentiates us and we’re continuously innovating to improve it. We also partner with others to bring disruptive ideas to the market faster.

ING’s dedicated Fund Finance team have a presence in London, Luxembourg, New York and Singapore.

M&T Bank

Founded in 1856, M&T Bank is one of the top full-service U.S.-based commercial banks, with a long history of community-focused banking. M&T has a network of over 900 branches, 2,200 ATMs and 22,000+ employees that span across 12 states from Maine to Virginia and Washington, D.C.

M&T offers advice, guidance, expertise and solutions across the entire financial spectrum, combining M&T’s traditional banking services with the wealth management and institutional capabilities offered by Wilmington Trust.

M&T is a community bank, delivering the capabilities of a big bank with the care and empathy of a locally focused institution. M&T Bank’s approach to Commercial Banking is based on our belief in the importance of establishing strong relationships with our customers and the local communities within which they do business. Our Relationship Managers take the time to understand your business and the communities where you operate to best provide advice and customized solutions to help you achieve your financial goals.

Matheson

Matheson services the legal needs of internationally-focused companies and financial institutions doing business in and from Ireland. Our clients include over half of the world’s 50 largest banks, 7 of the world’s 10 largest asset managers, 7 of the top 10 global technology brands and we have advised the majority of the Fortune 100 companies. Our Finance and Capital Markets team consists of more than 50 lawyers and advises financial institutions and corporations involved in arranging and executing all forms of finance and capital markets transactions in Ireland. We act for all of the major Irish banks and financial institutions, corporate borrowers and many of the world's leading international banks, investment managers and investment funds, securities and derivatives trading houses, broker dealers, insurance companies, alternative finance providers, supranational organisations, rating agencies, trustees and other financial services firms in relation to their lending, borrowing, finance and capital markets transactions and arrangements.

Santander Corporate & Investment Banking

Santander Corporate & Investment Banking (SCIB) is the global business division that supports corporate and institutional clients, who require tailored services and value-added wholesale products suited to their complexity and sophistication, as well as to responsible banking standards that contribute to the progress of society. Our coverage model combines local knowledge with global expertise of industry sectors of our clients.

Our clients are large multinational clients across corporates, financial institutions and financial sponsor sectors that seek a global relationship model with deep local knowledge and tailor-made solutions in Global Transaction Banking, Markets, Equities and Global Debt Financing.

Seward & Kissel LLP

Seward & Kissel, founded in 1890, is a leading U.S. law firm with an international reputation for excellence. We have offices in New York City and Washington, D.C.

Our practice primarily focuses on corporate and litigation work for clients seeking legal expertise in the financial services, corporate finance and capital markets areas. The Firm is particularly well known for its representation of major commercial banks, investment banking firms, investment advisers and related investment funds (including mutual, hedge and private equity funds), broker-dealers, institutional investors and transportation companies (particularly in the shipping area).

The Firm’s attorneys are very experienced and highly regarded in their respective practice areas. Many have been with the Firm for most, if not all, of their legal careers. Our focus and expertise, combined with the Firm’s stability, have enabled us to create a work culture that is dedicated to professional excellence and sound judgment, and that is committed to providing our clients with effective, high quality, hands-on legal service.

Simmons & Simmons LLP

Collaborative, agile and partner-led: that’s Simmons & Simmons. A law firm that challenges, creates new possibilities and offers opinion not just option. A law firm that acts as your business partner and works with you, not for you.

We focus on four highly regulated sectors using our specialist skills to understand your business, and the forces at play around it. All grounded in exceptional knowledge of the legal detail. This is how we consistently deliver smarter, more efficient ways to tackle our clients’ most complex challenges.

Our International Funds Finance practice is no exception. Operating across the UK, Europe, Middle East and Asia, we’re recognised for both technical excellence and outstanding commerciality. The team advises banks, hedge fund managers, private equity funds, real estate funds and investment fund managers in connection with a wide range of financings involving many different fund asset classes. As both the Asset Management/ Investment Funds and Financial Institutions sectors are key areas of focus for our firm, whether we are acting for a lender or a borrower, we are able to deliver an efficient and high calibre service.

Stifel Bank

With the legacy of Stifel, a leading Wealth Management and Investment Banking firm established in St. Louis in 1890, Stifel Bank provides growth and middle-market businesses and their owners a full range of lending, deposit, treasury, and private banking services. We are known for our superior customer service, flexibility, and entrepreneurial approach to banking.

Stifel Fund Banking offers a one-stop solution for the credit and treasury needs of private fund managers across all alternative asset classes. We focus on simple yet flexible subscription credit facilities, along with other products designed to optimize fund performance and streamline operations. The Fund Banking team partners closely with Stifel’s Investment Bank and other lending verticals to provide fund managers full coverage at both the fund and portfolio-level, all under one roof.

TD Securities

As a leading corporate and investment bank, TD Securities offers a wide range of integrated capital markets products and services. Our corporate, government, and institutional clients choose us for our innovation, execution, and experience.

With more than 4,900 professionals operating out of 16 offices around the world, we help our clients meet their needs today and prepare for tomorrow. Our services include underwriting and distributing new issues, providing trusted advice and industry-leading insight, extending access to global markets, and delivering integrated transaction banking solutions.

We are growth-oriented, people-focused, and community-minded. As an integrated team, we work to deliver value for our clients every day.

Texas Capital Bank

Texas Capital is the collective brand name for Texas Capital Bank (“TCB”) and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is the premier full-service financial services firm headquartered in Texas delivering customized solutions to businesses, entrepreneurs and individual customers. Since our founding more than 25 years ago, Texas Capital has undergone an enterprise-wide transformation designed to provide our clients with the widest possible range of differentiated products and services, on parity with those of the largest Wall Street banks. With offices in Dallas, Austin, Houston, San Antonio and Fort Worth, and a network of clients across the country, Texas Capital offers industry-leading expertise, global reach and a uniquely Texan approach to best serve our clients. Texas Capital is also committed to partnering with our local communities, investing our time, resources and capital in Texas charities and communities through the Texas Capital Foundation. For more information, please visit www.texascapital.com.

Travers Thorp Alberga

Travers Thorp Alberga is a leading offshore law firm for complex and novel financing structuring across all conventional disciplines. Our highly experienced partners advise in respect of all types of offshore structures including securitisations, collateralised loan obligation transactions, CFOs, SPV financing, hedge funds, private equity, corporate and partnership vehicles, asset and structured finance transactions, fund-linked structured products, cryptocurrencies, fintech, capital markets and general corporate and commercial matters. The multi-jurisdictional fund finance team advises on complex fund finance products including subscription financing, asset backed financing (NAV facilities), hybrid, GP support, preferred equity, secondaries, continuation funds and esoteric hybrid capital structures. The firm comprises around 60 fee-earners globally and advises from offices in Grand Cayman, the British Virgin Islands, London, Hong Kong, Australia and New Zealand.

We Are Guernsey

Guernsey Finance is a joint industry and government initiative established to promote Guernsey's financial services sector internationally. The agency conducts marketing, communications and business development on behalf of its members from Guernsey and overseas, with representatives employed in key markets globally.

Guernsey is a leading specialist centre for servicing alternative assets such as private equity, infrastructure and alternative debt. It has provided an alternative but complementary domicile for fund managers to domicile their funds for nearly 50 years and has more than £120 billion in regulated private equity funds currently domiciled on-island. Guernsey-domiciled funds enabled a capital flow of £43 billion into the US in mid-2019.

Our service providers have experienced the cycle of a private equity fund many times and can meet the unique challenges faced during each stage. As a jurisdiction, Guernsey provides a flexible and responsive legal, regulatory and business environment and offers proven, smarter and faster regulatory products for specialist fund managers and sophisticated investors.

Bronze Sponsors

Blue Ridge Bank

Blue Ridge Bank, N.A., a client-centered financial services company offering personal and commercial banking services throughout Virginia and North Carolina chartered in 1893. Blue Ridge Bank is the wholly owned banking subsidiary of Blue Ridge Bankshares,Inc. headquartered in Charlottesville, VA. Through its subsidiaries and affiliates, Blue Ridge Bank provides a wide range of financial services including retail and commercial banking, insurance, card payments, wholesale and retail mortgage lending, and government-guaranteed lending. Blue Ridge also provides investment and wealth management services and management services for personal and corporate trusts, including estate planning, and trust administration. Visit www.mybrb.bank for more information.

Brickfield Recruitment

Brickfield Fund Finance Recruitment is the only talent acquisition service dedicated to the global fund finance sector. Our in-depth knowledge of the fund finance market, complimented by a diligent and discreet personal approach, gives us an unparalleled ability to bring the right people together.

Founded in 2018, Brickfield plays a key role in facilitating moves at all levels within the fund finance industry, as well as bringing brand new talent into the industry to assure its long-term capacity for growth.

Brickfield also provides strategic counsel to banks, law firms, funds and alternative lenders facing challenges in attracting high quality candidates within this competitive recruitment market, advising on fund finance industry specifics and key guidance on issues such as base salary expectations, bonus benchmarking and brand reputation.

Brickfield is the exclusive publisher of the Fund Finance Bankers Compensation Report and the Working Guide to Fund Finance, a comprehensive “how-to” guide to European and offshore fund finance.

www.brickfieldrecruitment.com

Campbells

Campbells is a leading full service offshore law firm established in 1970. From our offices in the Cayman Islands, the British Virgin Islands and Hong Kong we provide comprehensive corporate and litigation advice and services to clients worldwide in relation to Cayman Islands and British Virgin Islands law. We are regularly trusted to advise some of the most prominent names in finance, investment and insurance and we are frequently involved in the largest and most complex transactions, disputes and insolvencies in both jurisdictions.

Our legal team is internationally recognised for its expertise by leading directories and trade publications and we are also proud to be actively involved in the development of legislation, sitting on critical government legislative committees. Campbells is a member of the international legal networks Meritas and World Law Group.

Cathay Bank

Cathay Bank is a commercial bank founded in Los Angeles in 1962. We build long-term relationships, looking ahead to future possibilities and focusing on putting people and companies on paths to success. Our flexible approach allows us to respond quickly to our customers and the rapidly changing marketplace. We’re invested in doing all we can for our customers by offering a wide range of financial services through nine states in the U.S. as well as a branch in Hong Kong and representative offices in Beijing, Shanghai, and Taipei. Cathay Bank is a subsidiary of Cathay General Bancorp (Nasdaq: CATY).

To engage with our Funds Finance team, contact Peter Thompson, SVP & Manager, Cathay Bank - Fund Finance Group, at peter.thompson@cathaybank.com, 626-279-3701.

Foley Hoag LLP

Foley Hoag is committed to helping our clients achieve their desired results by excelling in the time-honored practices of the legal profession and seizing on new ways to continuously improve our performance and service level. Since 1943, Foley Hoag has represented public and private clients in a wide range of disputes and transactions around the world. Our debt finance practice provides a full range of services to both borrowers and lenders in commercial loan transactions and debt offerings. We have established a lengthy record of success in industries such as life sciences, healthcare, technology, energy/renewables, investment management and professional services. From our offices in Boston, Washington, D.C., New York, and Paris, we provide creative, strategic legal advice tailored to clients’ unique goals, and our lawyers share a common emphasis on superior client service. For more information on the firm, visit: www.foleyhoag.com.

Harneys

Harneys is a leading international offshore law firm offering expert advice on the laws of the British Virgin Islands, the Cayman Islands, Luxembourg, Cyprus, Bermuda, Anguilla, and Jersey* to a global client base that includes the world’s top law firms, financial institutions, and investment funds, as well as high-net-worth individuals. We are a full-service offshore law firm that manages all transactional, contentious, and private client disciplines. Our lawyers often work alongside Harneys Fiduciary, our strategic alliance partner, which offers a full complement of corporate, wealth, and fiduciary services.

Harneys has played in key role in the offshore finance industry since its inception. Our clients include almost every significant bank and financial institution in the world as well as listed and private companies. Harneys have advised on a wide range of offshore financing transactions including fund finance, leveraged finance, margin lending, acquisition finance, pre-IPO finance, take-private transactions, bond issuances, convertible instruments, derivative transactions, property finance and syndicated lending.

*Jersey legal services are provided through a referral arrangement with Harneys (Jersey) which is an independently owned and controlled Jersey law firm.

Hedgewood Capital Partners

Hedgewood Capital Partners is a New York headquartered fund finance advisory firm. Hedgewood serves a wide range of borrowers across the private capital space including funds, GPs and LPs, in structuring financing transactions including capital call lines, NAV based debt facilities and preferred equity, GP and management company facilities and LP stake financing. Hedgewood runs a competitive lender sourcing process on behalf of its clients by engaging with its wide network of traditional bank and non-bank lenders, leads negotiations on behalf of clients, drives efficient execution of transactions and provides a comprehensive post-sales service. The firm’s client base extends across the private capital funds space in Europe and the Americas including Private Equity, Private Debt, Hedge Funds and Real Assets.

SJL Jimenez Lunz

SJL is a high-end independent business law firm renowned for its savoir faire and reliability. The firm has been created in 2010 as an independent alternative investment funds, finance, corporate and insolvency & restructuring boutique law firm to fill the increasing need of local legal advice of institutional and corporate clients. SJL offers an outstanding approach on the Luxembourg legal market in terms of legal skills, pragmatism and responsiveness.

SJL has developed a strong expertise in Fund Finance while acting for banks, investment funds and managers in the context of subscription lines, management lines or NAV solutions aiming among others at financing their investments in real estate, private equity or infrastructure sectors. The experience of the team of SJL, led by partner Antoine Fortier Grethen, also explains why the firm offers an outstanding approach on the Luxembourg legal market in terms of legal skills, pragmatism and responsiveness.

Troutman Pepper Locke

Troutman Pepper Locke helps clients solve complex legal challenges and achieve their business goals in an ever-changing global economy. With more than 1,600 attorneys in 30+ offices, the firm serves clients in all major industry sectors, with particular depth in energy, financial services, health care and life sciences, insurance and reinsurance, private equity, and real estate. Clients navigating sophisticated finance matters trust our attorneys to proactively assess risk, evaluate the business impact and recommend creative solutions. From financing new opportunities to evaluating and implementing restructuring and workout strategies, we advise lenders, borrowers and other stakeholders on all types of financing transactions, including those with terms and structures which are unconventional, as well as those secured by cross-border collateral. Our Fund Finance practice represents major U.S. banks and lenders on venture capital and private equity bilateral and syndicated subscription-based credit facilities. We are well versed in advising our clients on how to configure capital call loan facilities to address a complex array of the various fund structures. Learn more at troutman.com.

Media Partners

Global Legal Group

Global Legal Group (GLG) is an independent London-based legal media company firmly committed to delivering pivotal insights. Our range of print and digital products, as well as in-person and online events, provides primary legal, regulatory and policy information and reporting to businesses worldwide. We believe in pursuing fresh, indispensable information to advance the industry as a whole. Across our products, we cover more than 60 areas of law and over 190 jurisdictions, connecting our audience with the expert knowledge they seek out and rely on. We’re passionate about highly relevant, real-time information that empowers learning and advice as it’s shared among our global community, which is made up of private practice lawyers, in-house counsel, compliance officers and businesspeople.

Global Legal Insights to Fund Finance 2025 now into its ninth edition, provides in-depth analysis, insight and intelligence across 31 expert analysis chapters and 19 jurisdictions, covering key industry trends and developments around fund formation, net asset value facilities, subscription lines, enforcement, secondaries, ratings and collateralised fund obligations alongside much more. Written by leading industry participants from across the industry, this is the definitive legal guide for the global fund finance industry in 2025. Available online and to download for free.

Please Note: The Fontainebleau Hotel is completely sold out for the night of Tuesday, February 7th 2023.

Fontainebleau

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Location

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Rooms are reserved on a first-come, first-served basis.

2023 Miami Journal

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