The inspiration behind this year’s annual meeting theme, “The Search for the Missing Yield: Where in the World Is My ROI?” comes from the popular geography series Where in the World Is Carmen Sandiego? In the spirit of Carmen Sandiego, we, too, will travel the world in search for new opportunities for the US private placement market and, in the process, hope to enlighten ACIC fellows in dealing with the challenges they will face along the way.
Our search begins at the ACIC’s 2014 Annual Meeting and Educational Conference on October 16 and 17 at The InterContinental New York Times Square in New York City. Our Co-chairs and lead explorers are Yves Denize (TIAA-CREF) and Charles Kolin (Greenberg Traurig, LLP).
This year’s conference focuses on the new opportunities and challenges facing the US private placement market, such as new markets and new sectors, creating the challenge for competition but also the opportunity for increased volume of deals and returns. We start off with the traditional Market Update, which will review the US private placement market as a whole, including the US, Europe and Australia. It will examine where we have been over 2014, what’s trending, and where will the market be going for next year.
This year, we will explore expanding markets, including the current development of the European Private Placement Market and determine whether it is a threat to the US private placement market, a new opportunity, or both.
We will explore expanding sectors of the market, including P3 projects, which are projected for significant growth (with the expectation of the US to be the largest P3 market over time). There have been a few high profile P3 projects and a handful of current project that have tapped into and looked at the US private placement market.
In another area of providing for increased deal flow, we have seen, more than ever, non-US$ denominated issuances from Australia and Europe. Although this provides an additional opportunity for US institutions, it also requires most institutions to hedge the currency risk. Our derivatives panel will analyze the currency and interest rate swaps underlying foreign currency denominated transactions and show how the Model Form Make-Whole and Swap Indemnity provisions protect investors.
We will also explore searching for a different type of yield as we discuss the trends and challenges of social impact investing with leading experts in that field. A panel of investors and practitioners will also mine the opportunities to be found in the direct private equity ‘co-investment’ market.
Also, in addition to the experts, we have a group of unique panelists from different continents joining us, including practitioners from Australia, Canada and Europe and the Hon. Cecelia G. Morris, Chief Bankruptcy Judge, SDNY who will discuss key issues and trends in one of the nation’s leading bankruptcy courts.
So, my ACIC fellow travelers, pack your suitcases and REGISTER NOW! Join us as we embark on The Search for the Missing Yield: Where in the World is My ROI?