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Creditflux CLO Symposium 2011 Agenda
8:15 Registration and breakfast
9:15 Welcome and introduction
9:30 Key note speech
Jon Moulton, chairman, Better Capital
10:00 Panel discussion: Do CLOs have a future?
Speakers: Henry Charpentier, managing director, Moody’s; Matthew Natcharian, managing director, Babson Capital; Linda Pace, head of US structured credit, Carlyle Group; Daniel Smith, senior managing director, GSO Capital Partners.
Moderator: Peter Gleysteen, CEO, CIFC Deerfield
Lessons of the crisis; CLO performance; CLO renaissance?; changing structures; a changing investor base; role of the arranger; role of ratings
11:00 Coffee
11:30 Panel discussion: Finding value: finding investors
Speakers: Jim Galowski, partner, Stonetower Capital; Sean Griffin, executive director, JP Morgan; Miguel Ramos Fuentenebro, managing director, GSO Capital Partners; Ben Ufer, executive director, Nomura Securities.
Moderator: Joe Guzzi, Newedge Group
Demand for different tranches; impact of bank and insurance regulation; secondary CLO dynamics; CLO valuation; modelling the waterfall
12:30 Lunch
13:30 Panel discussion: Waiting for Europe
Speakers: John Convery, managing director, structuring, Deutsche Bank; Hiram Hamilton, executive director, Alcentra; Jeff Boswell, head of portfolio management, ICG; Andrew Marshak, credit investments group, Credit Suisse.
Moderator: David Bell, managing director, BNY Mellon
European CLO performance and relative value; prospects for the return of European “arbitrage” CLOs; developments in European balance sheet CLOs
14:30 Panel discussion: The detailed negotiation
Speakers: Sara Bonesteel, head of alternative investments, Pramerica Fixed Income; Alexandre Martin-Min, head of structured credit investments, Axa Investment Managers; Michael Smith, partner, Ashurst; Edward Tang, director, credit structuring, Citi
Moderator: Jeremy Carter, head of European structured credit, Fitch Ratings
Risk retention rules; CLO structural features - balancing the needs of investors; impact of ratings on CLO structure
15:30 Coffee
16:00 Panel discussion: The role of the manager
Speakers: Andrew Gordon, CEO, Octagon Credit Investors; Jeff Herlyn, principal, Tetragon Financial; Dan Norman, head of loans, ING Investment Management; Gunther Stein, CIO and CEO, Symphony Asset Management
Moderator: Megan Messina, global head of CDO syndicate, Bank of America Merrill Lynch
Choosing a CLO manager; trading strategies; manager size; manager co-investment; manager capabilities and skills; performance track record
17:00 Panel discussion: Finding the right assets
Speakers: Gretchen Bergstresser, senior portfolio manager, Apidos Capital; Jonathan DeSimone, managing director, Sankaty Advisors; Alan Kerr, managing director, Harbourmaster Capital Management; David Killion, CEO, Denali Capital.
Moderator: Jerry van Koolbergen, managing director, DBRS
US loan market dynamics; the European loan market; mid-market versus broadly syndicated loans; alternative buckets; the future of the loan market
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