Creditflux & Debtwire's US Mid-Market Forum

Convene
730 Third Avenue, NY
June 6, 2019
#USMidMarket

  • 08:00

    Registration & breakfast

  • 08:55

    Welcome

  • 09:00

    Panel - State of the mid-market

    As another year of record direct lending fundraising meets the looming prospect of a global slowdown, there’s plenty for our panel of the best known faces in the middle-market to discuss. What does a dovish Fed mean for the mid-market? As the liquidity premium shrinks do mid-market loans still offer value over broadly-syndicated ones? And is distressed a better bet for investors?

  • 09:45

    Presentation - Mid-market M&A update

  • 10:00

    Keynote

  • 10:30

    Panel - Global opportunities

    It’s not just about the US. European direct lending is equally hot, and new markets in Asia and emerging markets are springing up. What are the attractions, and challenges, of adding geographical diversity into a private credit portfolio?

  • 11:00

    Coffee

  • 11:30

    Panel - Distressed opportunities

    From retail to healthcare, special situations investors have a growing number of opportunities. But at the same time sponsors are growing more aggressive and the economy is slowing. Should investors snap up what they can or hold out for later in the cycle? Is retail too risky even in a restructuring? And how much pain will opioids cause for pharmaceuticals?

  • 12:15

    Panel - Investment case studies

    Hear how investment decisions are made at some of the top shops in the business as they decide which opportunities are worth bidding for. The (anonymized) case studies, based on recent deals in the market, probe deep into management style, appetite for risk and approach to structuring.

  • 13:00

    Lunch

  • 14:00

    Fireside chat - Infrastructure debt

    Every year the line between infrastructure debt and corporate debt gets muddier. What are the hottest opportunities in the infra market at the moment, and where should non-specialist investors be looking? And should we expect any more infrastructure securitisations to tempt CLO investors?

  • 14:30

    Panel - MM CLOs

    Middle-market CLO issuance had a slow start to 2019, but the pace is definitely picking up, with deals pricing both for experienced repeat issuers and debutant managers alike. But with the loss of Japanese investors to their risk-retention rules how easy will it be to get deals over the line in the future? And as distress grows in the middle market how are CLO portfolios performing, and how can managers mitigate some of the upcoming risks.

  • 15:15

    Presentation – Insurance Debt

  • 15:30

    Panel - BDCs

    From strong buy's to the mess at Medley, BDC prospects have never looked as divided. Is the divergence justified or a market over-reaction? Will we see more situations like Medley develop? And given the public nature of the BDC market makes them uniquely transparent, are the issues exposed in BDCs also unique to the structure, or a reflection of a wider divergence across the middle-market? 

  • 16:00

    Coffee

  • 16:30

    Presentation – PE fund financing

  • 16:45

    Panel - Would you buy it - the LP special edition

    Everyone's favourite panel returns with a twist. This year we'll show four notable investors a series of pitches for new direct lending funds and ask them what they think of manager size, leverage, fees, fund formats, geographical focus and everything else they think about before they pull the trigger on a new investment.

  • 17:30

    Networking reception