Program Agenda
| Thursday, February 1, 2024 | |
|---|---|
| NextGen Session #1: Laying the Foundation for Your New Firm | Session #1 Laying the Foundation for Your New Firm (2 hours 5 min.) Thursday, February 1st, 2024
4:00pm – 4:05pm Welcome & Opening Remarks, Housekeeping Speaker: Carmen Ortiz-McGhee, Chief Operating Officer, NAIC
4:05pm – 4:50pm Building a Firm is More Than Just Raising a Fund You have decided to launch your own firm, leveraging the experiences and networks you have built over a long and successful career. You know everything necessary to do this, right? This common misconception will be addressed in great detail in a session that also covers the journey from managing deals to managing people, establishing a culture, managing logistical and human resources issues, and more. Learn what to expect and how to transition to entrepreneurship as smoothly as possible. Speaker: Robert L. Greene, President & CEO, NAIC
4:50pm – 4:55pm Virtual Break (3 min) & Next Panel Introduction (2 min) 4:55pm – 5:15pm The Partnership Agreement: Establishing the Foundations of a Successful Partnership Partners require an intricate set of complex considerations. Having a shared vision and grounded understanding of the journey, a strong track record, and the right combination of skills and experiences are all crucial characteristics that LPs evaluate throughout the due diligence process. Additionally, ensuring that your partnership is undergirded by a thoughtful and thorough partnership agreement that positions your firm to weather its full life cycle is critical. Learn key principles that will position you and your partners for success on this journey. Session Description: When launching an institutional-grade private equity fund, selecting the right partners is a critical early step. Relationship dynamics, compatible skillsets, a strong collective track record, and a common vision must all be considered when shaping a team that can elicit high conviction in LPs. In this session, attendees will hear from industry experts about strategies for selecting partners and best practices for team compatibility as well as pitfalls to avoid. This session will provide a thorough overview of important legal terms and language that should be included in any partnership agreement to ensure the firm and partners’ ability to navigate the opportunities and challenges it will likely encounter. Topics that will be covered include:
Speaker:
5:15pm – 5:50pm Picking Your Partners: Fireside Chat Session description: This panel will bring speakers together for a deeper discussion into the topics covered and will also provide symposium attendees an opportunity to ask questions. Moderators:
Panelists:
5:50pm – 6:00pm Audience Q&A 6:00pm – 6:05pm Session #1 Closing Remarks Speaker: Carmen Ortiz-McGhee 6:05pm Session #1 Ends 6:05pm – 6:35pm Cohort Post-Session Networking (Optional) |
| Thursday, February 8, 2024 | |
| NextGen Session #2: Team, Track Record, and Strategy: Your Recipe for Success | Session #2 Team, Track Record, and Strategy: Your Recipe for Success (2 hour 5 min.) Thursday, February 8th, 2024 4:00pm – 4:05pm Opening Remarks & Speaker Introduction Speaker: Carmen Ortiz-McGhee 4:05pm – 4:35pm Critical Components of an Effective Team Session Description: In this session, you will learn the critical roles and skills required to round out a team for consideration of an institutional investment. You will hear directly from a leading allocator who will cover what positions within your team will be critical to your success, the team members you should have in place, and key advisory roles that you should fill as well as the range of third-party services available as you construct a solid offering. This session will cover:
Speaker: Allen Ruiz, Managing Director, Alternative Investments, Barings 4:35pm – 4:40pm Audience Q&A 4:40pm – 4:45pm Virtual Break (3 min) & Next Panel Introduction (2 min) 4:45pm – 5:00pm Establishing Your Track Record: Overview Session Description: One of the most important considerations for LPs evaluating GPs for allocation is the team’s track record. This session will provide detailed insight into the institutional investors’ perspective as well as ways to address when you are unable to port your track record, either individually or as a team. Speaker: Rodrigo Garcia, Global CIO, Talipot Holdings 5:00pm – 5:25pm Establishing Your Track Record: Panel Discussion Session Description: This session brings to bear the perspectives of some of the leading fund of fund investors in the industry for an in-depth dialogue and audience Q&A. Moderator: Rodrigo Garcia, Global CIO, Talipot Holdings Panelists:
5:25pm – 5:30pm Audience Q&A 5:30pm – 6:00pm Establishing Your Investment Strategy: Fireside Chat Session description: While team and track record and strategy are the overall rubric through which LPs evaluate managers, it is often said that strategy is far and away the most important of these elements. During this session you will hear from experts who have many years of evaluating and determining if they will deploy capital to support an investment strategy designed to create significant value and is resilient enough to weather the inevitable storms caused by the market. Moderator: Nia Gandy White, NAIC Advisor, NAIC Speaker:
6:00pm – 6:05pm Session #2 Closing Remarks Speaker: Carmen Ortiz-McGhee, Chief Operating Officer, NAIC 6:05pm Session #2 Ends 6:05pm – 6:35pm “Ask an Expert”: Allen Ruiz, Barings (Optional)
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| Thursday, February 15, 2024 | |
| NextGen Session #3: Attracting Capital: Building a Winning Go-to-Market Strategy | Session #3 Attracting Capital: Building a Winning Go-to-Market Strategy (2 hours 5 min.) Thursday, February 15th, 2024
4:00pm – 4:05pm Opening Remarks & Speaker Introduction Speaker: Carmen Ortiz-McGhee 4:05pm – 4:40pm Positioning Your Firm to Win in a Competitive Environment In the crowded and competitive field of fundraising, it is critical to hone your messaging, define your brand and clearly articulate your competitive advantage. In this session, you will hear from leading experts on how to effectively differentiate your strategy and learn how to attract potential LPs' attention. You will also discover how to pitch to different investor types and how to most effectively tell your story to investors who hear pitches all day, every day. What is your “edge”?
Speaker: Nia White, Co-Founder & Managing Partner, Arc Capital Advisors 4:40pm – 5:15pm Crafting Your Brand: How You Stand Out in a Crowded Marketplace When launching a new firm, it is crucial that your marketing materials pass institutional muster. With one chance to make a first impression, your messaging must be concise, consistent and appropriate for your target LPs. Your design and materials should also look professional. Participants will hear from an industry expert on how to ensure consistency in messaging and design across your marketing materials. Speaker: Susan Kirshner, Founder, Words Plus Numbers, LLC 5:15pm – 5:20pm Virtual Break (3 min) & Next Panel Introduction (2 min) 5:20pm – 6:00pm Been There, Done That: Perspectives from Successful Founders Lessons learned the hard way, including the real cost of launching and operating an institutional-grade firm, how long it will actually take to raise the capital, the realities of no longer being a part of a much larger entity (with all of the resources and infrastructure it afforded you) are all covered in this session. NAIC member firms will share some of the harsh realities of being an entrepreneur and raising a fund in the ever-increasingly competitive universe of alternative investments. Moderator: Carmen Ortiz-McGhee Panelists:
6:00pm – 6:05pm Session #3 Closing Remarks Speaker: Carmen Ortiz-McGhee 6:05pm Session #3 Ends 6:05pm – 6:35pm “Ask the Expert”: Susan Kirshner, Words Plus Numbers, LLC (Optional) |
| Thursday, February 22, 2024 | |
| NextGen Session #4: Behind the Scenes: Capital Allocator Insights | Session #4 Behind the Scenes: Capital Allocator Insights (2 hours) Thursday, February 22nd, 2024
4:00pm – 4:05pm Opening Remarks & Speaker Introduction Speaker: Carmen Ortiz-McGhee 4:05pm – 4:50pm Capital Allocator Insights: Everything You Need to Know In this session, you will hear directly from one of the top capital allocators in alternative investments. Topics covered in this informative session include the intricacies of the due diligence process, how decisions are made, the do’s and don’ts of interacting with potential LPs and what the competitive landscape looks like for diverse and emerging managers. Speaker: Charles Pippen, Principal, GCM Grosvenor 4:50pm – 4:55pm Virtual Break (3 min) & Next Panel Introduction (2 min) 4:55pm – 5:55pm Capital Allocator Insights: Panel Discussion
Panelists:
5:55pm – 6:05pm Audience Q&A 6:05pm – 6:10pm Session #4 Closing Remarks Speaker: Carmen Ortiz-McGhee 6:10pm Session #4 Ends 6:10pm – 6:40pm Cohort Post-Session Networking (Optional) |
| Thursday, February 29, 2024 | |
| NextGen Session #5: Risk Mitigation: Protecting Your Firm & Enhancing Your Deals | Session #5 Risk Mitigation: Protecting Your Firm & Enhancing Your Deals (2 hours 5 min) Thursday, February 29th, 2024 4:00pm – 4:05pm Opening Remarks & Speaker Introduction Speaker: Carmen Ortiz-McGhee 4:05pm – 4:30pm Operations: Knowing the Essentials to Succeed What are the essential elements to your operational infrastructure? This rapid-fire module will review the following: Establishing the right team & culture (HR), and right processes (Accounting & IT) as foundations to your success. You will learn the “Days to Zero” methodology to ensure that you have the actual capital to operate and sustain your firm. Speaker: Shana Hall, Executive Director, Finance, GCM Grosvenor 4:30pm – 4:40pm Audience Q&A 4:40pm – 4:45pm Virtual Break (3 min) & Next Panel Introduction (2 min) 4:45pm – 5:30pm Risk Mitigation
Risk Mitigation: Enhancing the Deal and Your Portfolio
Speakers:
5:30pm – 6:05pm Top 5 Legal Mistakes to Avoid as a First-Time Fund Manager This module will address common pitfalls that first-time fund managers often encounter and tips for avoiding them. From fund terms to management company structuring and operations, to LP negotiations and side letters, you will gain invaluable insight on how to avoid costly mistakes from an experienced large law firm partner who has the unique perspective of advising both emerging fund sponsors and a variety of institutional investors. Speaker:
6:05pm – 6:10pm | Closing Remarks Speaker: Carmen Ortiz-McGhee 6:10pm | Session #6 Ends 6:10pm – 6:40pm “Ask an Expert” with Lockton (Optional) |
| Thursday, March 7, 2024 | |
| NextGen Session #6: Back Office Essentials: Compliance, Reporting, and Tax Considerations | Session #6 Back Office Essentials: Compliance, Reporting, and Tax Considerations (2 hours 5 min.) Thursday, March 7th, 2024 4:00pm – 4:05pm Opening Remarks & Speaker Introduction Speaker: Carmen Ortiz-McGhee 4:05pm – 4:10pm Back Office Essentials Compliance and regulatory requirements, institutional investor reporting standards, cash and treasury management are all areas that are often underestimated by new managers – both in their importance and complexity – with potentially dire consequences if not properly managed. This session will take you through these key areas, what you need to do to make sure you are well-covered as you build and grow your firm. Introduction of EY Team: Ivan Lehon, Partner, Americas Private Equity Markets Leader, Ernst & Young 4:10pm – 4:30pm Regulatory compliance
4:30pm – 4:50pm Admin & investor services
4:50pm – 5:00pm Q&A 5:00pm – 5:05pm Virtual Break (5 min) 5:05pm – 5:20pm Management accounting
5:20pm – 5:35pm Valuation
5:35pm – 5:50pm Tax considerations
5:50pm – 6:00pm Q&A 6:00pm – 6:05pm Session #6 Closing Remarks Speaker: Carmen Ortiz-McGhee 6:05pm Session #6 Ends 6:05pm – 6:35pm “Ask an Expert” (Optional) |
| Thursday, March 14, 2024 | |
| NextGen Session #7: Structuring Your Firm: Important Legal Considerations | Session #7 Structuring Your Firm: Important Legal Considerations (2 hours) Thursday, March 14th, 2024 4:00pm – 4:05pm Opening Remarks & Speaker Introduction Speaker: Carmen Ortiz-McGhee 4:05pm – 4:50pm Fund Formation Legal Considerations (Part I) From the impact of securities laws on marketing, to fund and sponsor structuring, to the intricacies of fund documentation and closings, you will learn the critical components of how best to structurally set up your firm for success from one of the world’s top law firms. Topics that will be covered include:
Speakers:
4:50pm – 5:00pm Q&A 5:00pm – 5:05pm Virtual Break (5 min) 5:05pm – 5:40pm Fund Formation Legal Considerations (continued) 5:40pm – 5:50pm Q&A 5:50pm – 6:00pm Session #7 Closing Remarks Speaker: Carmen Ortiz-McGhee 6:00pm Session #7 Ends 6:00pm – 6:30pm Cohort Post-Session Networking (Optional) |
| Thursday, March 21, 2024 | |
| NextGen Session #8: Alternative Asset Classes: Buyout, Indepedent Sponsor, Real Estate, Venture | Session #8 Alternative Asset Classes: Venture, Real Estate, Buyout, Independent Sponsor (2 hours) Thursday, March 21st, 2024
4:00pm – 4:05pm Opening Remarks & Speaker Introductions Speaker: Carmen Ortiz-McGhee Session Description: While many of the strategies and structural considerations are similar across alternative asset classes, there are nuances within each. These concurrent sessions will take a deep dive into the specific considerations required across Real Estate, Venture and Private Equity. 4:05pm – 4:15pm Transition 4:15pm – 5:50pm Asset Class Overview While many of the strategies and structural considerations are similar across alternative asset classes, there are nuances within each. This concurrent session will take a deep dive into the specific considerations required in Real Estate, Venture and Private Equity and Independent Sponsors. 6:00pm – 6:30pm Cohort Networking (Optional) BREAK week March 26th- Independent Project (to Read Article and prepare for Session 9, no meeting this week) |
| NextGen Module | Independent Sponsor | 4:15pm – 4:50pm Independent Sponsor Overview While many of the strategies and structural considerations are similar across alternative asset classes, there are nuances within each. This concurrent session will take a deep dive into the specific considerations required in Independent Sponsorship. Speaker: Reggie Carter, Founding Partner, The Promise Venture 4:50pm – 5:30pm Independent Sponsor Panel Moderator: Reggie Carter Panelists:
5:30pm – 6:00pm Audience Q&A 6:00pm – 6:30pm Optional Cohort Networking |
| NextGen Module | Real Estate | 4:15pm – 4:50pm Real Estate Overview While many of the strategies and structural considerations are similar across alternative asset classes, there are nuances within each. This concurrent session will take a deep dive into the specific considerations required in Real Estate. Speaker: Peter Braffman, Managing Director, Real Estate Investments, GCM Grosvenor 4:50pm – 5:35pm Real Estate Panel Moderator: Peter Braffman, Managing Director, Real Estate Investments, GCM Grosvenor Panelists:
5:35pm – 5:50pm Audience Q&A 6:00pm – 6:30pm Optional Cohort Networking |
| NextGen Module | Buyout | 4:15pm – 5:35pm Private Equity Panel This concurrent session will take a deep dive into the specific considerations required in Buyout. Moderator:
Panelists:
5:35pm – 5:50pm Audience Q&A 6:00pm – 6:30pm Optional Cohort Networking |
| NextGen Module | Venture Capital Funds | 4:15pm – 5:35pm Venture Capital Funds Panel While many of the strategies and structural considerations are similar across alternative asset classes, there are nuances within each. This concurrent session will take a deep dive into the specific considerations required in Venture.
Moderator: Renata Aráuz-DeStefano, Pivotal Ventures Panelists:
5:35pm – 5:50pm Audience Q&A 6:00pm – 6:30pm Optional Cohort Networking |
| Thursday, April 4, 2024 | |
| NextGen Session #9: Money, Money, Money: Preparing for the Financial Journey -Special Session in NYC | Session #9 Money, Money, Money: Preparing for the Financial Journey (2 hours 5 min.) Thursday, April 4th, 2024 (Special Session in NYC)
2:00pm – 2:05pm Opening Remarks: Resources & Financing Your Private Equity Firm: Introduction Speaker: Carmen Ortiz-McGhee Session Description: Are you financially prepared to navigate the firm-building and fundraising journey ahead? In this session, you will learn about resources available and hear from industry experts about how to manage your finances while you raise your first institutional fund. In this session, experts will cover:
This special session will be held in person in New York City (online access will be available for those who can’t travel). The session will conclude with 90 minutes of networking with other participants and will provide the opportunity for you to meet the NAIC team and other resources that will be valuable as you build your firm. 2:05pm – 2:20pm NAIC Market Resources 2:20pm – 2:40pm Getting Your Ducks in a Row: Preparing your Personal Finances Session Description: Are you financially prepared to navigate the firm-building and fundraising journey ahead? In this session, you will hear from experts how to ensure that you are ready to comfortably manage through the 24 to 48 months it can take (and typically does) to raise your first institutional fund.
Moderator: Cynthia A. Marian, Shareholder, Greenberg Traurig Speaker: Samir Parikh, Co-Founder and Managing Partner, GiantLeap Capital 2:40pm – 2:50pm Audience Q&A 2:50pm – 3:10pm Financing Your Firm: Seeding Session Description: An important consideration as you build your firm is whether a seeding partner that provides operating capital in addition to an LP allocation is a viable option. In this session, you will learn the ins and outs of a productive seeding partnership as well as various options for seeding structures. Speaker: Pamela Pavkov, Head of TPG Next, TPG 3:10pm – 3:20pm Audience Q&A 3:20pm – 3:30pm Break (3 min) & Next Panel Introduction (2 min) 3:30pm – 3:50pm What’s It Going to Cost: An In-depth Look at a First Year P&L Statement Session Description: In this session you will learn the realities of managing your firm’s P&L in its first year. You will hear about the realities of the costs and challenges as well as ways to better prepare for unexpected circumstances that may arise. Speaker: Irwin Loud III, Chief Investment Officer, Muller & Monroe Asset Management 3:50pm – 4:00pm Audience Q&A 4:00pm – 4:20pm How You Get Paid: The Realities of Management Fees & Waterfalls Session Description: You will hear from one of the industry’s leading legal experts on the dynamics and considerations of the waterfall options and the pros and cons of each as well as insights into how to negotiate with LPs with respect this crucial topic that will impact your bottom line. Speaker: Alexandria Glispie, Partner, Kirkland & Ellis 4:20pm – 4:30pm Audience Q&A 4:30pm Session #9 Ends 4:30pm – 4:40pm Break 4:40pm – 4:55pm Post-Event Survey 4:55pm – 5:15pm Fireside Chat Fireside Chat with Goldman Sachs Team Session description: Join our fireside chat with representatives from Goldman Sachs' External Investing Group (XIG) Manager Selection team for an engaging session on thriving as a diverse emerging manager in today's market. Gain insights on aligning with market trends, navigating the institutional due diligence process, and strategies for successful partnerships with large LPs. Co-Moderators:
Panelists:
5:15pm – 5:25pm Audience Q&A 5:25pm – 5:30pm Closing Remarks Speaker: Robert L. Greene 5:30pm – 7:00pm Open Networking and Reception |