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08:30
Registration and Coffee
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09:00
Chair's welcome remarks
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09:10
Keynote: Our uncertain future
We have been through a decade far more extraordinary from an economic point of view than is generally appreciated. Lowest interest rates in history, lowest earnings and productivity growth in more than a century, biggest spending cuts since the war. We are now layering huge risk and uncertainty on top of this both as a result of Brexit and political instability. Paul will set out how we have got to this odd position, explain the likely economic effects of Brexit in the context of our trade situation, and briefly consider where a new prime minister’s economic strategy might lead.
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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.
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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.
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10:20
Networking Coffee
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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?
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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”
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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
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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.
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13:20
Chair's closing remarks
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13:30
Networking Lunch
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