Bundesverband Alternative Investments e.V. (BAI)

Ballroom 2+3

 

9:00 - 9:05am

Welcome and Moderation

Dr. Philipp Bunnenberg, Head Alternative Markets, BAI e.V.

 

9:05 - 09:35am 

Keynote: Private Debt Market Outlook & Key Takeaways

• Opportunities and risks of private debt in today's changed market environment
• Effects on private debt allocations of institutional investors in the overall portfolio context
• Trends from a private debt sub-asset class perspective
• A systematic approach to private debt allocations in institutional portfolios

Matthias Erb, Member of the Board, BAI e.V., Partner, Stepstone

 

9:35 - 10:05am

Direct Lending - A Global Perspective: Opportunities in Asia Pacific, Europe and the US

Michael R. Smith, Co-Head Private Debt USA, Muzinich
Andrew Tan, Head of Private Debt Asia Pacific, Muzinich
Sebastian Venc, Head Private Debt DACH, Muzinich

 

10:05 - 10:30 Uhr

Conservative mid-market lending across the cycle

• How to position a strategy for all seasons
• What you can expect to obtain – pricing, loan terms, etc
• How to originate to ensure you are a true credit picker
• Integrating ESG to assist with risk management

Laura Vaughan, CFA, Head of Direct Lending, Federated Hermes

Ballroom 1

 

9:00 - 9:05am

Welcome and Moderation

Florian Bucher, Alternative Markets, BAI e.V.

 

9:05 - 09:35am

Keynote: EIFs role in the Private Credit Fund space (in German)

• Introducing the European Investment Fund
• The EIF in the (Senior) Private Credit space
• Sustainability and green transformation
• EIF crowding in private investors – investing alongside the EIF

Priscilla Schnepper, European Investment Fund

 

9:35 - 10:05 Uhr

Real Estate Debt challenges in the current market environment

• How does the structural lending gap together with a structural change in the financing market in continental Europe increase the need for expert alternative lenders?
• How to use Real Estate Debt as a yield-enhancing strategy and to diversify credit and/or real estate portfolios?
• What are the challenges for the huge opportunities we see in Build-to-Green+ strategies?

Sandrine Amsili, Real Estate Debt Managing Director, ARDIAN

 

10:05 - 10:30 Uhr

Private Real Estate Debt in Europa – Risiken, Chancen und Investitionsansätze

• Überblick zu Veränderungen in der Finanzierungslandschaft

• Investitionsansätze in Private Real Estate Debt

• Aktuelles Chance-Risikoprofil

• Strukturierungsüberlegungen und Asset Selection

Andreas Schäfer, Director Real Estate Finance, M&G Investments

10:30 - 11:15am

Coffee Break

 

11:15 - 11:40am

The renaissance of junior debt

• Why are we experiencing a renaissance of junior debt on the financial market?
• How has the financial landscape changed as a result of the "uni-tranche" in recent years?
• What role do PIK structures play in the current financing situation?
• What makes subordinated capital particularly exciting for investors?

Florian Feder, Managing Director Private Debt, Rantum Capital
Marc Pahlow, Founder and Managing Director, Rantum Capital

 

11:40am - 12:20pm

Panel: Lower Middle Market

Dr. Markus Geiger, Head of Private Debt, ODDO BHF
Sandro Näf, CEO, Capital Four
Dr. Klaus Petersen, Founding Partner, Apera Asset Management
Dr. Matthias Unser, Member of the Board, YIELCO Investments 

Moderation: Dr. Guido Birkner, Editor-in-Chief, dpn

 

12:20 Uhr - 12:45pm

Capital Solutions - Crossover of Private Debt and Credit Opportunities (in German)

Christian Fritsch, Founder & Managing Partner, ELF Capital Group

10:30 - 11:15am

Coffee Break

 

11:15 - 11:40am

Current Challenges for Private Debt Funds: An Analysis of Current and Future Regulatory Challenges for Private Debt Funds in Germany and the US

Dr. Kati Beckmann, Partner, Greenberg Traurig

 

11:40am - 12:20pm

Panel: Real Estate Debt

Ben Eppley, Partner, Apollo Global Management
Richard Flohr, Partner and Portfolio Manager, CrossHarbor Capital Partners LLC
Manuel Köppel, Managing Director, BF. Capital GmbH
David White, Head of LaSalle Real Estate Debt Strategies Europe, LaSalle Investment Management

Moderation: Cyrus Korat, Partner, DRC Savills Investment Management

 

12:20 Uhr - 12:45pm

Driving forward the energy transition with innovative credit financing solutions for emerging business models

• Financing fragmented and decentralized infrastructure assets, such as rooftop solar installations, electric vehicle charging infrastructure and building refurbishments, which are often offered as a service, i.e. through "as-a-service" business models
• Structuring framework agreements with energy service providers for the efficient financing of aggregated project portfolios
• Combination of financing instruments based on real assets and cash flows to cover the capital requirements of energy service providers

Fabian Karger, Managing Director, Credit Investments, SUSI Partners

12:45 - 2:00pm

Lunch

 

2:00 - 2:40pm

Panel: Credit Opportunities 

Bernard Galea, Principal, Pantheon
Mikko Iso-Kulmala, Head of Private Credit Solutions, Fidelity
Moritz Jobke, Partner Private Credit, Goldman Sachs
Musa Sönmez, Co-Head Europe and Partner, Oak Hill Advisors

Moderation: Laura Merlini, CAIA, Managing Director for EMEA, CAIA Association

 

2:40 - 3:05pm

Asset Allocation within Alternative Credit

• Building a multi-asset Private Credit portfolio for the cycle
• What role can different Private Credit strategies play in a total portfolio?
• Relative value across the Private and Public Credit space

Racim Allouani, Managing Director, KKR

 

3:05 - 3:30pm

Manage turnaround situations in private debt portfolios

Alex Walker, Managing Director Europe Private Debt, Alcentra

 

3:30 - 3:55pm

Private debt secondaries from the perspective of a multi-manager

• Market observations
• Role in portfolio construction
• The challenges
• Looking to the future

Urs von Büren, Partner, Stepstone

12:45 - 2:00am

 

Lunch

 

2:00 - 2:40pm

Panel: Infrastructure Debt

Sven Degens, Partner, Solas Capital AG
Philippe Garrel, Head of Energy Transition Strategies, Sienna Investment Managers
Torsten Heidemann, Head of Infrastructure & Energy, Berenberg

Moderation: Stefan Futschik, Head of Private Debt and Managing Director, Prime Capital

 

2:40 - 3:05pm

Implementing sustainability criteria credibly in private debt

Harry Elliott, Director Investor Solutions, Natixis Investment Managers / MV Credit
Yasmin Bou Hamze, Investor Solutions Analyst, Natixis Investment Managers / MV Credit

 

3:05 - 3:30pm

Upper mid market: the ultimate risk reward?

• Private Credit in maturing as an asset class and the last few years have seen larger and more diversified companies use Private Credit shifting the median size of borrowers
• With larger companies, we have seen more resilient businesses, better capitalised businesses and sponsors with deeper pockets use Private Credit
• We ask whether lending to this tier of borrowers in between the traditional lower-mid / mid-market and large cap borrowers offers the best risk-adjusted return

Marc Chowrimootoo, Portfolio Manager, Hayfin Capital Management

 

3:30 - 3:55am

Global Fund Finance: Capital Call & NAV Facilities

Bas Kragten, Head private ABS, fund finance and infrastructure, Aegon Asset Management