2024 AIF Institute Private Capital Investing Symposium
October 29 | New York City
On behalf of AIF Global, we hope you will join us for the 2024 AIF Institute Private Capital Investing Symposium to be held October 29 at One Vanderbilt in New York City.
Agenda at a Glance
Tuesday, October 29
8:15–8:45 a.m.
Registration and Continental Breakfast
8:45–9:00 a.m.
Welcome and Symposium Overview
- Professor Sam Y. Chung, Head of AIF APAC
- Brant Maller, CEO and Founder, AIF Global and the AIF Institute
- Melissa Waller, President, AIF Global and the AIF Institute
9:00–9:45 a.m.
The New Investment Landscape: Trends in Demographics, Technology, and Trade
This session will explore key trends shaping the investment landscape, including demographic shifts, the rise of AI, evolving U.S.-China relations, and deglobalization. We’ll discuss the economic impacts of aging populations and growing middle classes, the transformative power of AI on industries and job markets, and the implications of geopolitical tensions between the U.S. and China on global markets and supply chains. Additionally, we’ll examine the shift from globalization to regionalization of trade and its effects on investment strategies.
- Randy Cohen, Senior Lecturer, Harvard Business School
10:00–10:50 a.m.
Rethinking Portfolio Construction in an Era of Geopolitical and Economic Uncertainty
This session will delve deep into portfolio construction and risk management in light of the macro trends and evolving investment landscape. The focus of the discussion will be on rethinking strategic asset allocation to enhance returns, manage risks, and achieve long-term portfolio stability in an increasingly complex global environment.
Moderator:
- Pete Keliuotis, EVP, Head of Alternatives Consulting, Callan
Panelists:
- Peter Blue, Head of Alternative Solutions, Franklin Templeton
- Won Jae Jung, Director, Strategy & Asset Allocation, Liberty Mutual Investments
- Cullen McNamee, Director of Risk for Liquid Assets, GCM Grosvenor
- Jeffrey Saret, Managing Director, Willett Advisors
11:10–12:00 p.m.
A New Era of Private Equity?: The Trends and Challenges Shaping the Industry
This session is a deep dive into the latest trends and critical questions shaping the Private Equity industry today. The session will explore how investors can effectively manage their Private Equity allocations amidst a rapidly evolving landscape. Key topics that panelists will discuss include the growing importance of NAV financing, the increasing role of private equity secondaries and co-investments, and strategies for navigating heightened market volatility and inflation. Additionally, we will examine the implications of a high interest rate environment, which has resurfaced after more than a decade of historically low rates.
Moderator:
- Jake Heacox, Partner, The Townsend Group
Panelists:
- Abigail Archibald, Senior Portfolio Manager, Mellon Foundation
- Nicholas Detmer, Senior Portfolio Advisor, Aksia
- Jonathan Lesser, Senior Investment Officer, Private Equity, New York City Retirement Systems
- Michael Skelly, Managing Director, Lexington Partners
12:00–1:00 p.m.
Luncheon
1:00–1:30 p.m.
Primer on Private Credit
- Sylvia Owens, Partner, Kennedy Lewis Investment Management
1:30–2:15 p.m.
Structured Credit: Where is the Alpha in Private Credit and Are you being compensated for the risk?
The exponential growth and increasing allocations to Private Credit have sparked debate among market observers and participants regarding the asset class’s return profile and the sustainability of alpha generation. While many investors and asset managers remain optimistic about the fundamentals of Private Credit, viewing it as a secular trend driven by the migration of bank lending to institutional investors’ balance sheets, others express concern that the influx of capital may outpace the available opportunities, potentially leading to lowered standards. This session will delve into these differing perspectives, exploring the balance between growth and quality in the Private Credit market.
Moderator:
- Rahul Desai, Senior Portfolio Advisor, Aksia
Panelists:
- Richard Grimm, Managing Director, Cambridge Associates
- Brian Himot, Head of Structured Capital, Strategic Value Partners
- Brad Lo Gatto, Private Credit & Alternative Assets and Senior Investment Analyst of Public Credit, PartnerRe
- Bill Sanders, Partner, President, Chief Operating Officer, Chief Risk Officer, 400 Capital Management
2:30–3:15 p.m.
The Future of Real Estate: Trends, Tensions, and Tactical Responses
This session will be an engaging exploration of the latest trends in real estate, unraveling the impacts of rising long-term bond yields, fluctuating interest rates, and the remarkable resilience of real estate fundamentals amidst various headwinds. This session will discuss the nuanced landscape of private market valuations and the widening performance gap between asset classes. As well as delving deeply into the far-reaching implications of deglobalization, geopolitical tensions, and demographic shifts on investment decisions. Sharing insights and innovative strategies for managing real estate allocations.
Moderator:
- Prashant Tewari, Partner, The Townsend Group
Panelists:
- Matt Drummond, Senior Managing Director, Head of High Yield Strategies, ACORE Capital
- Andrew Holm, Partner and Co-Head of U.S. Real Estate Investments, Ares Management
3:30–4:15 p.m.
Outlook for Public and Private Markets
- Torsten Slok, Partner and Chief Economist, Apollo Global Management
4:30–5:15 p.m.
Inflection Point or Illusion: The True Potential of Infrastructure Allocations
In this session, we will explore the current state of infrastructure as an asset class and evaluate whether it is truly poised for significant growth in allocations or likely to remain underallocated in portfolios. We will examine the diverse opportunity set and consider whether increasing allocations to infrastructure will be driven by macroeconomic factors, the energy transition, and next-generation infrastructure projects such as data centers, 5G networks, and the substantial energy demands of new technologies like AI. Additionally, we will assess the impact of recent regulatory and policy shifts, including the bipartisan Inflation Reduction Act, and evaluate whether government support for new infrastructure will translate into investable opportunities for institutional investors.
Moderator:
- Adaline Sparks, Associate Director, Barings
Panelists:
- Dominic Garcia, Chief Pension Investment Strategist, CBRE Investment Management
- Monica Huffer, Portfolio Director, Texas Municipal Retirement System
- Scott Litman, Managing Director, Infrastructure Investments, GCM Grosvenor
- Luke Taylor, Co-President, Stonepeak
5:15–6:30 p.m.
Closing Reception
2024 AIF Institute Private Capital Investing Symposium
Investor, Consultant and Finance Academic Participants
Aksia
Rahul Desai, Senior Portfolio Advisor
Nicholas Detmer, Senior Portfolio Advisor
Cambridge Associates
Richard Grimm, Managing Director
Nicholas Youngberg, Investment Associate
Cooper Family Office
Judy Chou, Senior Advisor, Credit Strategies
Corebridge Financial
James Conklin, Head of Public Equity
Dai-ichi Life Insurance
Takuyam Matsutani, Senior Manager (Alternatives)
Hanwha Life Insurance
Dong Hoon Lee, Senior Manager
Hyundai Investment (America)
Dongjae Lee, President of USA
Yoonjung Na, Manager
Japan Post Bank
Toshiaki Hiroshima, Senior Manager (Real Estate)
Korea Housing Finance Corporation
Joonmin Kim, President of USA
Minchul Seo, VP
Leanna Park, Assistant Manager
Korea Investment Corporation (KIC)
Kyungtaek Lee, President of USA
Shelby Kim, Manager
Korea Post (NY Office)
Sungmin Lim, Head of New York
Jihye Jo, Senior Manager
Korea Trade Insurance Corporation
Joonyun Won, President of USA
Liberty Mutual Investments
Won Jae Jung, Director, Strategy & Asset Allocation
Mellon Foundation
Abigail Archibald, Senior Portfolio Manager
Minnesota State Board of Investment
Erol Sonderegger, Deputy CIO
Samir Zahar, Investment Officer, Private Markets
National Pension Service (NPS)
Rachel Oh, Head of New York
Sunmi Kim, Senior Manager (Global Equity)
Jinwoo Park, Senior Manager (Global Fixed Income)
OhHuk Kwon, Senior Manager (Global Equity)
Jaehyun (Edwin) Ko, Senior Manager (Alternatives)
Shinja Kwon, Senior Manager (Private Equity)
Alexander Oh, Senior Manager (Infrastructure)
Heeyoung Shin, Senior Manager (Real Estate)
Jaehyun Kim, Senior Manager (Strategies)
Nomura Fiduciary Research & Consulting America (NFRCA)
Mari Minami, President & Global Head of Private Equity Research
NYC Retirement System
Jonathan Lesser, Senior Investment Officer
PartnerRe
Brad Lo Gatto, Private Credit & Alternative Assets and Senior Investment Analyst of Public Credit
Samsung Asset Management (NewYork)
Chad Suh, Vice President
Samsung Life Insurance
Taewoo Han, Senior Manager
Texas Municipal Retirement System
Monica Huffer, Portfolio Director
The Bank of Korea
Kwangsick Cho, Chief Representative
The Townsend Group
Jake Heacox, Partner
Tokio Marine Insurance
Toshihiko Hirashima, Senior Manager (Alternatives)
UN Joint Staff Pension Fund (UNJSPF)
Meeseon Oh, Investment Officer (Alternatives Team)
Willett Advisors
Jeffrey Saret, Managing Director
