First Annual Secondaries Outlook 2019 | CFA Institute | 12 September 2019 | CFA Society of New York, 1540 Broadway #1010, New York, NY 10036, USA

Venue
CFA Society of New York
CFA Society of New York, 1540 Broadway #1010, New York, NY 10036, USA

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Event Date Thu Sep 12 EDT (over 5 years ago)
Location CFA Society of New York
1540 Broadway #1010, New York, NY 10036, USA
Region Americas
Details

The secondary market began in the 1980’s as a method to provide liquidity to investors in illiquid private equity and other pools of alternative assets. Secondary funds build exposure to illiquid portfolios by acquiring existing positions in single funds or a portfolio of funds from limited partners (“LPs”) seeking early liquidity often at a discount to recent valuations. Investors in these secondary funds find this dynamic attractive as a method to rapidly build up exposure to seasoned positions in private equity and other alternatives in a highly diversified manner all while potentially exhibiting shorter duration and low correlation to their existing portfolio.

This market has grown and matured at a shocking pace over the past few decades to now be considered a differentiated investment strategy for investors as well as a regular portfolio management tool to rebalance alternatives exposures and either reallocate proceeds into newer fund vintages or lock in realized gains. Originally viewed as a nascent industry only needed during periods of distress and significant market volatility, it has grown into a more institutionalized market covering generally every alternative category.

Speakers

2019 Speakers

Michael Catts
Managing Director, Evercore’s Private Capital Advisory team

Sander Doucette, CFA
Director of Investments, Hamilton College

Eric Foran, CFA
Partner, Coller Capital

Barry Griffiths, Ph.D., CFA
Partner & Head, Quantitative Research Group, Landmark

Brett Hickey
Founder & CEO, Star Mountain Capital, LLC

Shane Kokitus, CFA
Member of the Investment Team, Franklin Park

Leor Landa
Partner, Davis Polk’s Investment Management/Private Funds Group

Cari Lodge
Head of Secondaries and a member of the Investment Committee, Commonfund and Commonfund Capital

Michael Nelson, CFA
Founder, Eagle Bay Advisors

Victor Wu
Partner, Lexington Partners

Anna Sembos, PhD, CFA
Financial Services Executive