Discover new opportunities in the Mid-Market

20 June 2019

Royal Horseguards
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  • 08:30

    Registration and Coffee

  • 09:00
  • 09:10

    Keynote: Regulating the Direct Lending Market

    Since the financial crisis, asset managers have become an important feature in Europe's debt markets, providing financing to companies and PE firms where banks have retrenched. The growth of the European direct lending market has been substantial, having raised €100bn of capital in the past five years. Institutional lenders avoid the increasingly stringent capital controls and lending standards that commercial banks must address and in some areas of the mid-market are now more prominent lenders than traditional commercial banks. The growth of direct lenders is beginning to attract the attention of policymakers and regulators who will need to consider their approach to this area of the market. Our keynote speaker will call upon his policymaking and central banking experience to offer some views on how these approaches may be developed.

    Paul Johnson
    Paul Johnson
    Director, Institute for Fiscal Studies
  • 09:40

    Panel: Private Equity views

    Competition in the mid-market is allowing sponsors to extract cheaper pricing, higher leverage and more flexibility than before. GPs will discuss what’s top of the list for them when tapping financiers and their views on the market.

    Maryna Irkliyenko
    Maryna Irkliyenko
    Senior Private Equity Reporter, Debtwire
  • 10:10

    Disruptor Presentation

    Snapshot from one of the leading ‘disruptors’ in the market looking at innovative ways to finance SMEs away from traditional direct lenders.

    Ravi  Anand
    Ravi Anand
    Managing Director, ThinCats/ ESF Capital
  • 10:20

    Networking Coffee

  • 10:50

    LP Views: Concerns and expectations

    Direct lending has been a popular place for LPs to put cash, with abundant liquidity allowing fund sizes to swell. With more and more managers fundraising in the market how do investors decide the best place to grow their money? Our panel of LPs will discuss their key concerns as investors and how they navigate through marketing pitches to park their money.

    • What attracts LPs to invest in private debt?
    • How do LPs differentiate between providers and select the funds they allocate to?
    • What are LPs’ concerns and expectations in this heated market?

  • 11:20

    Panel: Tapping wine drinking Europe

    Most direct lenders initially focused on conquering beer-drinking European countries [Germany, Austria etc.]but with the market getting somewhat saturated, could wine-drinking countries [Italy, Spain, Portugal] be the place to look for expansion? Panellists will discuss their experience diversifying their geographies in the market and new areas peaking interest.

    • Direct lending expansion in Spain/Italy/Portugal/CEE.
    • What are the red flags and things to consider on these countries?
    • What jurisdictions are still considered “off limits”

    Kenneth	 Borton
    Kenneth Borton
    Managing Director , H.I.G. Capital
    Vincent Vitores
    Vincent Vitores
    Partner- Private Debt, Bluebay
    Francesca Ficai
    Francesca Ficai
    Reporter, Acuris
  • 12:05

    Panel: When direct lending turns distressed

    Direct lending has had astronomic growth in recent years. As the industry graduates and the cycle turns, what happens when relationship lending is put to the test? This panel will discuss the distressed landscape in direct lending and the mid-market.

    • Should we expect to see more restructurings in the mid-market space?
    • How do lenders respond in the case of deteriorating financial performance of the borrower?
    • What are the tools for direct lenders in European jurisdictions for managing mid-market restructurings?
    • How are debt funds bulking up on their restructuring expertise?
    • Tackling transferability restrictions
    Tom  Astle
    Tom Astle
    Partner, Hogan Lovells
  • 12:45

    Key takeaways from the day

    In this interactive panel, panelists will reflect on the main takeaways from the day and are given the opportunity to respond to previous commentary. The audience will also be involved in the discussion via a live poll.

  • 13:20
  • 13:30

    Networking Lunch

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