For the past several years, distressed investing has been the focus for many investors as experts have predicted double-digit default rates. Fundraising efforts have largely targeted this strategy and unprecedented capital was raised in anticipation of upcoming opportunities. Yet today it is not clear that there are any near-term catalysts to crystallize this view. This panel brings together some of the most experienced leaders in distressed investing to share their thoughts on the current cycle.
Panelists:
Private equity firms currently face unprecedented challenges in managing struggling portfolio companies and executing new investments in the current climate of sluggish economic activity and limited credit availability. Despite these challenges, the large amount of "dry powder" and depressed valuations present a unique investing environment. This panel will examine how large-cap funds can evolve to overcome the difficult landscape by taking advantage of new and attractive investment opportunities. Topics will include applying lessons learnt from the financial crisis to drive returns in new investment opportunities, sourcing deals in a competitive environment, and managing portfolio companies through the economic cycle.
Panelists:
As the private equity and venture capital industries face significant changes in the economic environment, investors in these funds face unique challenges. The panelists will discuss their perspectives of investing in private equity and venture capital during the recent bull market and the subsequent crisis, discussing topics including: their current and long-term assessment of the market PE/VC; their current secondaries market perspectives; the LPs reaction to more lenient lock-up and commitment terms and the impact of this power shift on the LP/GP relationships; the impact of recent changes in accounting regulations and disclosures on the industry.
Panelists:
Building a business during a downturn presents a challenging, yet enormously rewarding opportunity. Due to the markedly changed macroeconomic landscape, future success in private equity investing will be driven more by investing acumen than by financial engineering. Firms that successfully maneuver this new landscape will be better poised for growth. This panel will explore various avenues for growth in both the middle market industry and individual private equity firms. It will also focus on which investing characteristics will generate returns, including industry-specific investing, operational expertise/differentiation and expansion into new strategies.
Panelists:
Most emerging market countries have withstood the destabilizing financial events of the past 18 months better than expected, and attractive private equity investment opportunities exist across these markets. This panel will bring together leading global investors from various emerging markets to discuss the current state of private equity in each panelist's respective geographic areas and some of the changes that have occurred in their markets as a result of the financial crisis. They will discuss where they believe opportunities exist in their markets today and the directions in which private equity investing will head in their markets going forward.
Panelists:
This panel will explore the future challenges and opportunities faced by the private equity industry in a world of scarce profitable investment opportunities, widespread risk aversion among investors and restrictions on leverage in financing acquisitions. These realities have resulted in an increase of investment companies who have made investments outside of their traditional scope, including PIPE transactions, credit market investments, real estate, and fund-of-funds investments. This panel will feature professionals who are at the forefront of the newest developments in private equity and will provide insights into the industry's future trends in light of an increasing dispersion of investment strategies across alternative asset classes.
As we emerge from the crisis, the dynamics of early-stage investing are evolving unlike any previous era the industry has experienced. Though investments have increased significantly in Q3'09 as compared to the bottom in Q1'09, the sector still contends with discussions predicting consolidation and the possibility of Washington introducing new challenges. In light of these hurdles, the venture capital industry will redefine itself in the coming years and remain one of the most attractive asset classes available to investors. The panelists will share their thoughts on whether this is the time to be contrarian and fund new ventures, explore which sectors and geographies have become most attractive, and discuss what their respective firms are doing to capitalize on these new opportunities.
Panelists:
Based on the latest NVCA survey, venture capitalists anticipate additional growth in investments across China and India in 2010. However, the path to great VC returns in these emerging markets does not mirror our experiences in the U.S. Instead, venture investors must differentiate themselves not only by identifying opportunities divergent from those of Silicon Valley, but also by demonstrating deep understanding of the region’s legal, business and social terrain. In addition, there has been a noticeable shift among many traditional early stage funds towards growth investing. Building upon their collective experience in successfully financing and stewarding entrepreneurs in China and India, our panelists will share their insights on the present and future dynamics of venture investing in these economies.
Panelists:
Recruiting for private equity or venture capital is difficult and competitive even in a good economy but now with the squeeze in the credit market and weakening of the overall economy coupled with a greater supply of experience and talent makes it even harder for students and professionals alike to recruit for summer internships or full-time positions in the industry. For the first time ever, the career panel, will bring together leading senior recruiters in the space to discuss how candidates, both with prior experience as well as career switchers can position themselves, what professional development opportunities exist, and how they should go about networking and searching for opportunities.
Panelists:
