SFNet's Asset-Based Capital Conference 2023
January 31 to February 1, 2023
Las Vegas, NV
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Three full years since the onset of the pandemic, we are at a new beginning. While the economy and our environment continue to shift, it is time for the entire asset-based capital community to take uncertainty into account, set our business plans and march into a new year. “The Great Reboot” is about setting new strategies for a new world. ABCC runs back to back with TMA's Distressed Investing Conference, allowing us to offer the ever-popular Joint SFNet/TMA Reception again this year. Join us in Las Vegas from Jan. 31 to Feb. 1 for thought provoking discussions on the economy, geopolitics, talent recruitment and retention, credit quality, industry dynamics and more.
Attendees will have access to our on-demand sessions:
Legal Session – Current Documentation Issues
In this attorney panel, leading practitioners will discuss current credit agreement issues. The panel will focus on recent trends in negative covenant baskets and will include a discussion on liability management transactions as well as limited condition transactions.
Moderator: Tim Johnston, Partner, Haynes Boone
Panelist: Jennifer Ezring, Partner, Cahill Gordon & Reindel LLP
Wade Kennedy, Partner, Holland & Knight LLP
Harrison Roberts, Partner, Parker, Hudson, Rainer & Dobbs LLP
James Snyder, Partner, Sidley Austin LLP
The ABCC European ABL Panel 2023 Update
This panel will provide an overview of the European market in 2022 and aspirations for 2023. Items to be discussed include:
- Business activity in 2022
- Key features, multiples, M&A activity, reaction to Ukraine invasion – after shocks
- Effects on Clients
- Prospects for 2023
- Legal issues to think about
- Lender views
Moderator: Jeremy Harrison, Head of Sales UK, ABN AMRO Asset Based Finance
Panelists: Andrew Barraclough, Head of Regional Asset Based Lending, NatWest Group
Niamh Buckley, Associate Director, Endless LLP
Shanan Dunstan, Partner, Banking, Bryan Cave Leighton Paisner LLP
Gregory Moreton, Partner, Head of Debt Advisory, RSM UK
Simon Prendergast, Partner, Dentons UK and Middle East LLP
Xenia Sarri, Managing Director, Lincoln International
Alex Skeaping, Director, Debt & Capital Advisory, Deloitte LLP
Divided Government and What to Expect in Washington in 2023
A deeper dive into financial services, anti-trust, and competition policy.
Moderator: Lon Goldstein, President, Goldstein Policy Solutions
Panelists: Seth Bloom, President and Founder, Bloom Strategic Counsel
Amanda Hamilton, Senior Correspondent, Capitol Forum
Cliff Roberti, Co-Founder and Principal, Federal Hall Policy Advisors, LLC
Chris Scribner, Senior Policy Advisor, Venable LLP
In-Person Agenda (subject to change)
Tuesday, January 31, 2023
8:00 a.m. - 12:30 p.m.
11:00 a.m. - 6:00 p.m.
sponsored by Cahill Gordon & Reindel LLP
12:30 p.m. - 2:00 p.m.
Private Equity Adapts
Our lunch will feature a conversation with a leading private equity partner. Kevin Meyer, Managing Director at Churchill Asset Management, will interview Olivier Sarkozy, Founder and Managing Partner at private equity firm Further Global. Previously Mr. Sarkozy was a partner and head of financial institutions investing at Carlyle.
Moderator: Kevin Meyer, Managing Director, Head of Originations, Churchill Asset Management
Speaker: Olivier Sarkozy, Founder and Managing Partner, Further Global
2:00 p.m. - 3:00 p.m.
sponsored by Gordon Brothers
3:00 p.m. - 4:00 p.m.
Real Estate in Transition
Real Estate values have become increasingly volatile over the past several years. Durable growth in eCommerce has positively impacted occupancy, rents and prices of Industrial properties at the expense of traditional mall-based retail locations. Office properties have been positively impacted by migratory trends benefitting the Sunbelt, but there are broad concerns about the quantum of traditional office space that will be needed going forward given recognized WFH efficiencies. Low interest rates drove significant price increases in 2020 and 2021, but the inflationary environment that stimulus created has resulted in above-trend rent growth across many property sectors pressuring operating costs for corporations. This multi-disciplinary panel of real estate professionals will discuss trends impacting the market for Office, Industrial and Retail properties and take a look forward into expectations for 2023 and beyond.
Moderator: Weston Garrett, Managing Director, Corporate Real Estate Solutions, Regions Bank
Panelists: Jason DeWitt, Managing Director, JLL Capital Markets
Charlie McPhee, Senior Vice President & Regional Director, West Region, IDI Logistics
Joel Schneider, Sr. Vice President, Hilco Global
4:00 p.m. - 5:00 p.m.
Geopolitical disruptions, supply chain issues and inflation have weighed heavily on the economy throughout 2022 and the Fed response has been historic rate increases, which have raised the specter of a recession. As we enter 2023, the focus of the financial markets is on the direction of the economy more than ever. To help us understand the current outlook, we will hear from Michael Skordeles, Senior Macro US Strategist at Truist Financial.
Speaker: Michael Skordeles, Senior US Macro Strategist, Truist Financial
5:15 p.m. - 7:00 p.m.
sponsored by Holland & Knight LLP
Wednesday, February 1, 2023
7:45 a.m. - 1:30 p.m.
9:00 a.m. - 9:45 a.m.
9:30 a.m. - 10:45 a.m.
ABCC Capital Markets Update 2023
sponsored by Bank of America
The broadly syndicated markets for bonds and loans experienced significant disruption in 2022 as concerns over the direction of the economy rose and the Fed aggressively raised rates to combat inflation. While the private debt market had a very strong year, it is also subject to the same concerns over the economy, and at year end fund raising and increasing leveraged had a meaningful impact on pricing terms and liquidity. At the same time the asset-based market continued its torrid pace from 2021, combining with low losses to provide market participants with record levels of profitability. This panel of capital markets professionals will provide their views on where that leaves us for 2023 and beyond.
Moderator: Barry Bobrow, Managing Director, Head of Credit Markets, Regions Business Capital
Panelists: Fred Bower, Executive Director, JPMorgan Chase Bank
Cole Buckfelder, Managing Director, Wells Fargo Capital Finance
Maria Dikeos, Director of Loans Analytics & Head of Global Loans Contributions, Refinitiv
Jessica Nels, Managing Director, Churchill Asset Management
10:45 a.m. - 12:00 p.m.
Private Debt Front and Center
Private debt has had a breakout year in 2022 as the broadly syndicated markets have faltered. Though record volumes were invested in 2022, as year end approaches pressure on credit quality and additional fund raising has placed a premium on quality and returns. Lincoln international, a global investment banking advisory firm specializing in mergers and acquisitions, capital advisory and valuations and opinions services, will provide proprietary private market data from its Valuations & Opinions Group and moderate this panel of private debt professionals, exploring current market trends and expectations for the future direction of the market.
Moderator: Smitha Balasubramanian, Managing Director, Lincoln International
Panelists: Dan Lee, Partner, Comvest Credit Partners
Vali Shokrgozer, Managing Director, HPS
Raj Vig, President of BlackRock–TPC Capital Corp. and Investment Committee Chairman for US Private Credit, BlackRock
12:00 p.m. - 2:00 p.m.
Lunch Discussion - Asset Values in an Age of High Volatility
The ability to determine valuation of assets is a foundational concept in asset-based lending. All asset classes, from receivables to inventory to fixed assets and intangibles, have experienced wide fluctuations in the past three years as a result of multiple factors, including the unprecedented injections of funding from central banks, the disruptions to food and energy markets resulting from the war in Ukraine, supply chain disruptions, particularly those resulting from Covid shutdowns in China, changing consumer behavior as the Covid pandemic has evolved, and of course the rapid increase in inflation. The significant volatility in asset values has made the ability to determine the value of collateral more important than ever for asset-based lenders. This panel, led by Gordon Brothers, will examine the causes and magnitude of recent asset volatility, and will provide guidance from experts across a wide range of asset classes on what to expect in 2023 and beyond.
Moderator: Kathryn Scharre, Managing Director - Corporate ABL Underwriting Manager, Wells Fargo Capital Finance
Panelists: Wendy Eng, Senior Managing Director, Head of Operations, Gordon Brothers
Becky Goldfarb, Managing Director, Retail Valuations, Gordon Brothers
Robert Himmel, Head of North America Commercial & Industrial, Gordon Brothers
Alex Sutton, Managing Director, Head of Research, Gordon Brothers
2:00 p.m. - 4:30 p.m.
sponsored by Gordon Brothers
4:30 p.m. - 5:30 p.m.
Is the Long-Awaited Wave of Restructuring Finally Here?
With interest rates and recession concerns rising sharply during 2022, expectations are high that there will be an increase in restructuring activity in 2023. How this develops and what the critical issues for debt holders will be is the topic of this discussion. Panelists to include legal, banking and equity perspectives.
Moderator: Steve Hessler, Partner, Sidley Austin LLP
Panelists: Steve Coulombe, Managing Director, BRG Corporate Finance
Surbhi Gupta, Managing Director, Houlihan Lokey
David Nemecek, Partner, Kirkland & Ellis LLP
Matthew Perkal, Partner, Brigade Capital Management
5:45 p.m. - 8:00 p.m.
Joint Reception with TMA's Distressed Investing Conference
sponsored by White Oak Commercial Finance, Siena Lending Group, Parker, Hudson, Rainer & Dobbs LLP, Cadence Business Finance
Thank you to our conference sponsors
Platinum Plus Level
All cancellation requests must be made in writing. A refund will be granted when the request is received four weeks prior to the conference, minus a 10% processing fee. Email refund requests to Betty at BLam@sfnet.com.
Member Price: $1595
Non-Member Price: $2195Register
Contact: Jeff Walsh
Upcoming SFNet Education Courses
- Financial Statements
- Underwriting Level Two
- Field Exam Level Two
- On Demand classes: Appraisals, Factoring, Legal, Workout & Bankruptcy