Alternative Investments

First Annual Secondaries Outlook

Thursday, September 12 | 4:30 PM - 8:00 PM

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Overview

The secondary market began in the 1980s as a method to provide liquidity to investors in illiquid private equity, and other pools of alternative assets. Secondary funds build exposure to illiquid portfolios by acquiring existing positions in single funds or a portfolio of funds from limited partners (“LPs”) seeking early liquidity often at a discount to recent valuations. Investors use these funds to rapidly build up exposure to diversified, seasoned positions in private equity and other alternatives with, potentially, shorter duration and lower correlation to investors’ existing portfolios.

Secondary funds cover traditional private equity, venture capital and hedge fund structures and more esoteric illiquid investments such as private debt, music royalties, and direct / co-investments. They may also cover innovative and complex strategies including GP-led transactions, preferred instruments and fund restructurings.

Agenda

4:30 PM | REGISTRATION & CHECK IN


5:00 PM | OPENING REMARKS

Stephan Connelly, CFA, Director, Star Mountain


5:05 PM | GP PANEL DISCUSSION

Moderator

Leor Landa, Partner, Davis Polk’s Investment Management/Private Funds Group

Panelists

Eric Foran, CFA, Partner, Coller Capital

Barry Griffiths, Ph.D., CFA, Partner & Head of Quantitative Research, Landmark Partners

Brett Hickey, Founder & CEO, Star Mountain Capital

Cari Lodge, Managing Director, Commonfund Capital

Victor Wu, Partner, Lexington Partners


5:50 PM | Q&A


6:00 PM | LP PANEL DISCUSSION

Introduced by: Anna Sembos,PhD, CFA, Senior Consultant at CIFC Asset Management

Moderator

Michael Catts, Managing Director, Evercore

Panelists

Sander Doucette, CFA, Director of Investments, Hamilton College

Jeremy Klepner, Vice President, Jasper Ridge Partners

Michael Nelson, CFA, CIO, Eagle Bay


6:45 PM | Q&A


6:55 PM | CLOSING REMARKS

Todd Eklund, CFA, CAIA, Co-Chair, Alternative Investments Group


7:00 PM | NETWORKING & CATERED RECEPTION

Additional Details

Learning Outcomes

  • Understand the rise of interest in secondaries.
  • Understand how asset owners use secondaries to rebalance and optimize returns.
  • Understand how secondary managers are finding opportunities in a maturing market by use of size and scale as well as innovative and differentiated strategies.
  • Learn about new innovations in the secondary market which have the potential to disrupt and shift the market over the next few years.