The ILPA Webcast Series was launched in 2007 to provide members with a platform to discuss topical and relevant issues impacting the industry, in timely and accessible format. Topics are all vetted by the Education Committee to ensure member relevancy and all presenters are considered top quality professionals.
Past topics include:
Energy Correction Market Insights: Risk and Opportunities (April 2015)
Speakers From: Teacher Retirement System of Texas and Tudor, Pickering, Holt & Co.
Crude oil prices have declined by over 50% since peaking in the summer of 2014. Global supply growth has been driven by high levels of activity in the United States, where exploitation of shale resources has resulted in 50% growth in US production (from ~6 million barrels per day to over 9 million barrels per day). Building US and global inventory levels foreshadowed the crude collapse, which accelerated when the OPEC cartel opted not to reduce production and support prices. The energy industry reaction has been relatively swift, reducing global investment activity and lowering operating costs.
The investment community also responded aggressively, pushing energy stocks and energy credits to multi-year lows. As it does during every down cycle, the debate now rages on the timing, magnitude and texture of a subsequent upcycle/recovery.
What LP’s Need to Look Out For in Fund Restructuring Investments (February 2015)
Speakers From: DuPont Capital Management, Morgan Stanley Alternative Investment Partners Secondaries group and Proskauer Rose LLP
Over the past several years, there has been an increase in fund restructuring transactions, which are the direct result of the large number of private equity funds raised in the mid-2000s. As these funds reach the end of their legal lives, they are frequently not in a position to realize liquidity without diminishing the value of the underlying investments. Fund restructurings have become a new option that may offer benefits to both GPs and LPs—including advantaged pricing, improved interest alignment, increased transparency and near-term liquidity—but also require nuanced diligence procedures to address the inherent complexities and conflicts of interest in these types of investments.
Panelists who represent the legal, LP and buy sides of these transactions will discuss the pros and cons of participation from an LP’s perspective as well as diligence requirements and case studies with lessons learned.
ILPA Issues Briefing – Attempts to Limit SEC Oversight of PE (January 2015)
Speakers From: Holland & Knight and ILPA
ILPA’s Industry Affairs Committee invited our advisers at Holland & Knight, a law firm in Washington, to provide members with a live briefing on efforts to unwind Dodd-Frank and SEC oversight of private equity. Playback of the call is available below for members only.
Diligence and Monitoring in the Post-Dodd Frank Era: Emerging Practices Related to SEC Exam Findings (December 2014)
Speakers From: ILPA, Securities and Exchange Commission (SEC), Torys LLP and Universities Superannuation Scheme (USS)
Building on the September 12, 2013 webcast “Behind the Scenes at the SEC,” which introduced the SEC’s exams program and regulatory priorities related to private equity, this webcast will address areas for recommended additional diligence related to findings from the recently concluded presence exams pilot program and ongoing routine and other examinations. The session will also include a discussion on industry trends in drafting partnership agreements, specifically provisions related to fees, expenses, reporting and disclosure. Panelists will also share regulatory, legal and Limited Partner perspectives on emerging practices around fund due diligence and investment monitoring.
Borrow Cheap Buy High? Debt Market Outlook and Impact on PE (October 2014)
Speakers From: GE Antares Capital, ILPA, Sachs & Co and The University of Chicago Booth School of Business
Debt markets have been heating up again and investors are looking to find out what will trigger a correction and if/when that happens, what impact will it have on private equity. Access to cheap debt usually means better returns in the public markets, but does the same apply to the private markets?
During this webcast a panel of expert speakers with different perspectives on the debt market will discuss their views on current market trends and the projected impact on private equity deals and future returns.