Alternative Investments

Distressed Credit 2020 – Finding Gain in Turmoil and Pain

Thursday, February 13 | 2:30 PM - 7:00 PM

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Overview

Investors are facing off in the midst of the longest bull market in history. Accommodative monetary policy and an unprecedented period of easy money has led to companies taking on record levels of debt. Times like these leave distressed credit investors eager for what is to come.

As the economic cycle progresses, the next recession draws inevitably closer.  The next downturn in the credit cycle will open the door for distressed investors to do what they do best, find opportunity in that trouble.

The fortunes for distressed credit and restructuring funds are generally counter-cyclical to the broader economy.  Onset of economic weakness or some other igniter creates increased investment opportunities.

Adverse conditions can create a favorable set of opportunities for distressed investors, with bargain prices for attractive assets after a market dislocation.

Agenda

2:30 PM | REGISTRATION & CHECK IN


3:00 PM | INTRODUCTION & WELCOME

Jonathan Prin, CFA, Chair of the Board of Directors, CFA Society New York


3:05 PM | KEYNOTE SPEAKER

Introduced by Kris Thiessen, CFA, CAIA, EA, Co-Chair, Alternative Investments Group and Board Member, CFA Society New York

Steve Tesoriere, Managing Director and Co-Portfolio Manager, Oaktree Capital


3:35 PM | Q & A


3:40 PM | FUNDAMENTALS OF DISTRESSED DEBT AS AN ASSET CLASS

Introduced by Jonathan Dong, Vice Chair, Alternative Investments Group

Moderator

Andrew M. Thau, Legal Analyst, Whitebox Advisors LLC


Panelists

Steven Karpel, CFA, Managing Director, BlackRock

Christopher Lahoud, Partner, Apollo

Mayur Lakhani, Portfolio Manager, Lord Abbett

Kyle Owusu, Senior Distressed Debt Analyst, Reorg Americas

John Slater, Former Lead Partner, Credit, Paulson & Co. Inc.


4:30 PM | KEYNOTE FIRESIDE CHAT

Introduced by Kris Thiessen, CFA, CAIA, EA, Co-Chair, Alternative Investments Group and Board Member, CFA Society New York

Interviewer

Marcelo Delmar, Founder and Managing Partner, Mens Sana Adisors

Hans Humes, Chairman, Chief Executive Office & Chief Investment Officer, Greylock Capital Management, LLC


5:05 PM | Q & A


5:15 PM | BREAK


5:30 PM | KEYNOTE SPEAKER II

Introduced by Anna Sembos, CFA, Ph.D., Co-Chair, Alternative Investments Group

Marti Murray, CVA, Principal, The Brattle Group


6:05 PM | Q & A


6:10 PM | BANKRUPTCY, WORKOUTS, & RESTRUCTURING DYNAMICS

Introduced by David Motsonelidze, CFA, Vice Chair, Alternative Investments Group

Moderator

John Bringardner, Global Legal Editor, Debtwire


Panelists

Josh Abramson, Managing Director, PJT Partners LP

Michael Addeo, CFA, Principal, Head of Restructuring, GSO Capital Partners / Blackstone

Jesse DelConte, Director, AlixPartners

Surbhi GuptaManaging Director, Financial Restructuring Group, Houlihan Lokey

Natasha Labovitz, Partner & Co-Chair, Debevoise’s Restructuring Group


7:00 PM | CLOSING REMARKS & NETWORKING CATERED RECEPTION

Anna Sembos, CFA, Ph.D., Co-Chair, Alternative Investments Group

Additional Details

Learning Outcomes

  • Understand how investors extract rewarding opportunities from circumstances of turmoil, distress, or turnaround situations.
  • Learn the fundamental methods that underpin distressed debt. Discover common characteristics and approaches of some of the most successful investors in the distressed debt arena.
  • Appreciate bankruptcy and restructuring dynamics used by distressed investors to turn troubled companies into attractive assets