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Conference

Real Estate, Direct Lending & Private Debt Forum - Part II

April 23, 2020
04:00 AM - 10:30 AM
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Thank you to our Sponsors, Preqin, Millennium Trust, ApexOne Investment Partners, EnTrust Global for helping us make this event possible.  Without your support and guidance, we would not have been able to produce such a high quality and great event again. Thank you to all of our FLAIA Members and the FLAIA Board for their support during these challenging times.  It is amazing how our community has come together to provide Leadership during great uncertainty.  I am proud to be a part of this great group! 

Real Estate, Direct Lending and Private Debt are 3 legs of the alternative investment industry and over the past 10 years each of these legs have grown to have a much more profound impact on Main Street. Perhaps these 3 legs have been the hardest hit part of the overall alternative investment industry. Because of the lack of real time liquidity and real time price discovery this Forum is the most important conversation for global investors to join. Most investors have exposure to real estate through equity / credit and amid a crisis, no one has all the answers today. We are determined to bring clarity, truth, facts and experience from the front line by the most talented investment managers.   

The content that you helped to shape by answering the survey questions are being used to designed to help shape and generate answer to the questions that are causing lots of sleepless nights. Part II of the Real Estate, Direct Lending and Private Debt Forum will look at the short and long term impact of COVID-19. The coronavirus crisis has rapidly become a major part of Americans’ everyday lives and many of us are thinking about how the virus has and will continue to impact all sectors of the commercial real estate industry. Coronavirus is creating extreme uncertainty in the short-term with regards to cashflows. There will be a new normal defined by how people shop, work and play in the future. The question is, how will the new norm impact the commercial real estate sector?

In our last survey, you responded contrary to popular thought because most did not think it was appropriate to discuss investment opportunities right now in the middle of this crisis. Part I of the this conversation stayed away from investment opportunities as we collectively decided to focus more on the right here and right now. Due to overwhelming demand, the conversation will start to look at opportunities available today and in the medium term. We will include a look forward at conditions and opportunities in distressed investments and structuring issues involved in co-Investments vs. direct Investments.

Investment opportunities that help businesses that need working capital solutions to turn around the economy in time of Covid-19 will be featured in a panel session.  The pandemic is a crisis like no other affecting two fronts: the medical and the economic. The importance to keep the economy running during the crisis is critical for those essential services, food distribution, delivery, and public utilities. Then will come the recovery. Liquidity is the key of to the game and where the alternative investment sector should focus on. The success of the pace of recovery will depend crucially on policies undertaken during the crisis. If policies ensure that workers do not lose their jobs, renters and homeowners are not evicted, companies avoid bankruptcy, and business and trade networks are preserved, the recovery will occur sooner and more smoothly. All working capital solutions that free liquidity into the market will be part of a quick recovery. 

While the results from the survey produce sort of a photo finish, the winner of the most interest goes to Private Debt. The discussion will cover opportunities as our managers identify and discuss today’s pressure points in private debt and credit due to the Covid-19 pandemic that will lead to the opportunities of 2020 and beyond. Our expert panel will reflect on past crises and discuss how they are adjusting to today’s new realities and preparing for tomorrow’s opportunities. How are managers handling the increased uncertainty and risk? And where are the related opportunities?

Tonight I listened to Jaime Dimon, CEO of JP Morgan discuss how banks are the lenders of last resort and I could not help but think about how businesses are constantly looking for access to capital that traditional banks have not been able to provide since the Great Recession. I thought about the role that banks have been playing since the by lending to direct lenders rather than directly to businesses. This does not align with Jamie Dimon’s internal dialogue and I have witnessed the growth of many platforms as they have stepped in to fulfill the demand. One of the main reasons that businesses and real estate investors have chosen direct lenders over banks is their ability to respond quickly, underwrite deals and get loans funded.

We will learn more from market participants as they shed light on the current conditions!

  • Preparing for Opportunities During COVID-19 in Private Debt and Credit
    15:00 PM - 16:00 PM
    Panel
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    Join us for a panel discussion on Preparing for Opportunities During COVID-19 in Private Debt and Credit, as we identify and discuss today's pressure points in private debt and credit due to the COVID-19 Pandemic that will lead to the opportunities of 2020 and beyond. Our expert panel will reflect on past crises and discuss how they are adjusting to today's new realities and preparing for tomorrow's opportunities. How are managers handling the increased uncertainty and risk? And where are the related opportunities?

    • Update on how the ongoing pandemic is impacting the lending environment
    • Differences and similarities between COVID-19 and previous financial crises
    • What specific steps are being taken today to prepare for opportunities directly caused by the financial chaos from the pandemic.

    Speakers: Antonio Zuniga, Rafael Serrano, Michael Griffin, Matt Gilbert, and Dan Lee

  • Short Term – Long Term Impact of COVID-19 on Real Estate
    13:30 PM - 14:30 PM
    Panel
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    The coronavirus crisis has rapidly become a major part of Americans’ everyday lives and many of us are thinking about how the virus has and will continue to impact all sectors of the commercial real estate industry. Coronavirus is creating extreme uncertainty in the short-term with regards to cash flows. There will be a new normal defined by how people shop, work and play in the future. The question is, how will the new norm impact the commercial real estate sector?

    • Where will opportunities come from?
    • Short-term & long-term impact COVID-19?
    • How will this impact underwriting?
    • Does it change the type of loans you place on your property?
    • How will this impact investor expectations and yields?

    Speakers: Nick Neri, Ernest Johnson, Chris Innes, Michael Mangione, and Bharat Sangani, MD

  • Economic & Market Implications of COVID - 19
    13:00 PM - 13:30 PM
    Keynote
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    We would like for you to hear an update from Michael Mullaney, Director of Global Markets Research at Boston Partners. Register Now as he will cover the following points in a brief 25 minute presentation on April 23, 2020 at 1 PM.

    Michael is speaking at the Real Estate, Direct Lending & Private Debt Forum, please use the Register Now button below for the event, you can join in at 1 PM EST for his session or attend the entire event.

    • Coronavirus "Curve" Ascending at a Decelerating Rate
    • Large Dispersion of Economic Forecasts
    • Monetary and Fiscal Responses Should Temper Recession
    • Stock Market Already Pricing Significant Recession
    • V Recovery of Stock Market & Economy Unlikely

    Speakers: Michael Mullaney

  • Investment Opportunities & Working Capital Solutions to Turn Around the Economy in Time of COVID-19
    12:00 PM - 13:00 PM
    Panel
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    Join us for a panel on Investment Opportunities & Working Capital Solutions to Turn Around the Economy in Time of COVID-19. The Pandemic is a crisis like no other affecting two fronts: the medical and the economy. The importance to keep the economy running during the crisis is critical for those essential services, food distribution, delivery and public utilities, then will come the recovery. Liquidity is the key of the game and where the alternative financial sector should focus. The success of the pace of recovery will depend crucially on policies undertaken during the crisis. If policies ensure that workers do not lose their jobs, renters and homeowners are not evicted, companies avoid bankruptcy, and business and trade networks are preserved, the recovery will occur sooner and more smoothly. All working capital solutions that free liquidity into the market will be part of a quick recovery. Each of the panelists will have an opportunity to speak about their strategy, performance expectations and their teams while they discuss their observations surrounding today's current events. Each panelist will provide investors and asset class managers with insight into their thought processes around risk mitigation and potential opportunity coming out of the current environment. As the dust begins to settle in their respective niches, our experts that have a long track record in the following area of Supply Chain Finance will talk about how they are thinking about capturing the opportunities.

    • Working Capital solutions available
    • How To Turn Assets Into Liquidity
    • Quick Risk Return Opportunities

    Speakers: Shalako Wiener, Hector De La Garza, Dipak Jogia, P.J. Bain, and Hernan Mayol

  • Online Reputation Management - The Good, The Bad, and The Ugly
    11:30 AM - 12:00 PM
    Keynote
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    Brandon will be reviewing what Online Reputation Management (ORM) is. If you Google yourself, or your firm, you will find search results that are either good, bad or ugly. What do those search results mean for you and how do you go about influencing them to have a positive outcome.

    • Trust in a business partner or advisor is often initially established, or broken, online in the form of a search.
    • Forbes notes that 42% of adults look someone up before doing business with them.
    • Being in control of establishing positive trust in search results is imperative.
    • Taking control of your online reputation is a step that any Investment Management firm can take today.
    • DiamondLinks' proactive reputation-building approach creates a wealth of positive online sentiment and minimize negative sentiment.
    • Forbes notes that 42% of adults look someone up before doing business with them.

    Speakers: Brandon Hopkins

  • PRIVATE CREDIT – Understanding the Risks and Opportunities in the Current Environment
    10:30 AM - 11:30 AM
    Panel
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    Join us for a panel as we identify and discuss today's pressure points in private debt and credit due to the Covid-19 Pandemic that will lead to the opportunities of 2020 and beyond. Our expert panel will reflect on past crises and discuss how they are adjusting to today's new realities and preparing for tomorrow's opportunities. How are managers handling the increased uncertainty and risk? And where are the related opportunities?

    • Explanation of different strategies within the private credit asset class
    • The role of collateral in private credit strategies
    • The capital structure and what is the likelihood your firm will need to operate that collateral in the coming months
    • Opportunities in the current environment and to positioning in order to take advantage of these opportunities

    Speakers: Matt Kiggins, Rob Jafek, and Mark Fitzpatrick

  • State of Alternatives and the Effect of COVID-19
    10:00 AM - 10:30 AM
    Keynote
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    In this presentation Preqin will be giving a summary of findings from its 2020 Global Reports, as well as looking into the effect COVID-19 has had on the Alternative Assets Industry. We will look at the growth of the industry over the course of the past decade, as well as fundraising trends across asset classes for 2020. We will review the first quarter of this year to see how COVID-19 has started to shape the 2020 landscape, as well as a looking forward at the impact this disease could have on cashflows in the longer term.

    • Preqin overview of alternative assets growth in the 2020’s
    • Performance snapshot across asset classes
    • Investor sentiment on how their portfolios are performing
    • COVID-19 impact on Q1 fundraising and deal activity
    • Projection of COVID-19 affect on future performance and cash flows

    Speakers: Jesse Fahy