Name: GP-led secondaries – motivations, mechanics, and outcomes
Start: 2023-01-31T14:00:00Z
End: 2023-01-31T14:43:03.000Z
Location: BrightTALK
Rating: 4.2

This webcast channel is for pension funds and other institutional investment professionals in Europe, the USA and Asia. It is particularly relevant for pension fund executives, trustees, consultants and investment managers. IPE will be bringing its community live interviews with leading figures in the market, hosting roundtable discussions on specific topics such as asset allocation and also sharing latest thought-leadership from investment experts.

Amid prolonged market uncertainty and a banking crisis that is reshaping the real estate debt investment environment, opportunities for alternative lenders and investors are growing. 

Discover these opportunities whilst understanding the impact of the current market, the dynamics of sectors, how best to incorporate sustainability objectives and navigate common challenges entering the European commercial real estate debt market.

Host Brendan Maton is joined by Nuveen Real Estate’s specialists – Head of European Debt, Christian Janssen, Director of Research, Darren Rawcliffe and Global Client Group Director, Liora Walter.

How market volatility is rewriting the real estate debt environment in Europe

*For UK professional investors only*

With rising interest rates, increasingly unaffordable rents and the prospect of government legislation that is likely to have unintended consequences for the very renters it is designed to help, the UK housing market is facing serious challenges that are likely to hit the ‘squeezed middle’ of society hardest.

In contrast, UK defined benefit pension schemes have seen significant improvements in funding levels and are now looking for income generative investment solutions as inflation-linked cashflow becomes more important than ever. 

Can the issues that the UK housing market faces be solved in a way that offers an innovative investment proposition to UK pension schemes and an opportunity to have a positive societal impact? 

We believe that it can, and that Gradual Home Ownership may be one of the answers.  
 
Join AllianzGI’s Adrian Jones and Nigel Purves from Wayhome to learn more about the opportunity that exists for UK pensions schemes to help tackle the housing crisis by investing in a diversified portfolio of residential property that aims to generate inflation-linked incomes for pension members and provide individuals and families the opportunity to get on the housing ladder without the need for debt or government subsidy. 
 
In this session we will explain the concept of Gradual Home Ownership, discuss how it is already helping people across the UK and describe the solution that can be delivered with the help of UK pensions schemes.

Is 2023 a CRISIS for UK home ownership and residential property investment?

ESG investing has been advancing rapidly into core pension portfolios since the 2015 Paris Agreement on climate change. It came of age in 2022 in the face of two unexpected challenges: the savage market rout and the strong political backlash in the US.

Against this backdrop, Sebastian Schiele, Head of Passive Mandates Sales EMEA & APAC at DWS Xtrackers and Prof. Amin Rajan, CEO Create Research will discuss the findings of the Passive Investing Report 2023 ESG investing after the bear market. The survey provides a timely perspective on the future of ESG investing after its first major setback. 148 large pension funds globally, collectively managing EUR 1.7 trilion in assets have been surveyed. 

The webcast will address the following topics:

• Why has ESG performance faltered in 2022? Is it a blip or a big departure from the recent past;  duly distinguishing between idiosyncratic drivers and market drivers? 
• How have ESG funds performed in relation to other funds against their respective benchmarks? 
• Looking ahead, what factors would drive your investments in ESG?
• What would be new and different about ESG 2.0? Why? And how?

The future of ESG after the bear market

American Century’s Global Value team will offer their insights on high-quality, dividend-focused and low-volatility value investing in today’s uncertain economic and market environment.

The team will highlight:
• The current state of the U.S. consumer
• The challenges facing the regional banking industry
• How the housing market influences central bank policy

Presented by:
Jeff John, CFA,  Vice President, Senior Portfolio Manager
Paul Howanitz, CFA, Portfolio Manager, Senior Investment Analyst
Mike Rode, CFA, Vice President, Senior Client Portfolio Manager

One Year Later: The Fed’s Assault on Inflation - and How to Prevail

Gold hat seinen Glanz als sicherer Hafen und Diversifikator nicht verloren, vor allem im aktuellen Zinserhöhungszyklus. Aber die negativen Folgen auf Umwelt und Gesellschaft beim Abbau machen dem Ruf des Edelmetalls im Zeitalter der Nachhaltigkeit zu schaffen. Lassen sich diese beiden Aspekte vereinen? Wir glauben ja und möchten Ihnen zwei Lösungsansätze vorstellen: Recyceltes Gold und einen ESG-Risikoansatz zur Bewertung von Goldminenbetreibern.

HANetf wurde mit dem Ziel gegründet, Vermögensverwaltern und Unternehmern über unsere White-Label Plattform die Möglichkeit zu geben, eigene OGAW-ETFs erfolgreich aufzulegen und zu vertreiben. Dadurch möchten wir europäischen Anlegern einzigartige und innovative ETFs anbieten. Die vorgestellten Gold Investmentstrategien repräsentieren diese Idee dank der einzigartigen Verbindung von ESG mit der Rohstoffwelt.

Andre Voinea ist Leiter der DACH-Region bei HANetf. Er verfügt über 15 Jahre Erfahrung in der Finanzbranche mit Schwerpunkt auf ETFs und indexbasierten Investments. Vor seiner Anstellung bei HANetf war er in verschiedenen Rollen bei FTSE Russel, ETF Securities und Nomura tätig.
Das Webinar findet am Mittwoch den 24. Mai 2023 von 10.00 bis 10.45 Uhr statt.

IPE D.A.CH Webinar: So lässt sich Gold in nachhaltige Portfolios integrieren

Investing in today's market can be challenging. With unprecedented uncertainties, it's more important than ever to have a core equity portfolio that can deliver resilient alpha, hedge risk, and enhance your returns.

That's why we're excited to invite you to our upcoming webinar, "Equity Fusion: A New Approach for Modern Markets." In this webinar, you'll learn from the President of Intech International, David Schofield, and discover:

• Insights into an evolving equity market structure 
• Challenges in navigating time-varying risks
• Latest innovations for modern markets

Don't miss this opportunity. Register now for our webinar, "Equity Fusion: A New Approach for Modern Markets," and take the first step towards modernizing your core equity portfolio.

Equity Fusion: A New Approach for Modern Markets

FIONA MANNING, FUND MANAGER, PREMIER MITON EMERGING MARKETS SUSTAINABLE FUND
EM Equities – Global Sustainable Development:
The path of growth in emerging markets is likely to be a winding one but we see opportunities aligned to global sustainable development priorities where we see a clearer outlook for the resumption of the capital investment cycle. We see a breadth of opportunities beyond those around climate transition – in energy efficiency, industrial productivity and upskilling, financial inclusion and improved health outcomes. The drive for rediversification of supply chains aligned to global geopolitical concerns has shone a spotlight on a more diverse range of emerging and frontier markets.

RAND WRIGHTON, CFA, PORTFOLIO MANAGER, BARROW HANLEY EMERGING MARKETS AND NON-U.S. VALUE STRATEGIES
After more than a decade of growth leadership in a small number of names, investors may have forgotten how an effective, disciplined value investing approach adds meaningful value in emerging markets over the long term by taking advantage of profitable dislocations at the country, sector, and company level. Historically within emerging markets, the strongest returns have typically come from having the courage to wade into meaningful controversies and buying cheap assets that have temporarily gone on sale. We will discuss how the current environment provides that same opportunity and having the flexibility to take advantage of those dislocations provides an effective way to profit in this inefficient asset class.

EM Equities: Sustainable development; Value via profitable dislocation

This volatile environment, where markets seem to change risk posture on a dime, is here to stay and wreaking havoc on institutional portfolios. This session will provide practical insights into how investors can view, analyze and deploy risk across all asset classes — including ESG investments — in order to achieve their objectives in this new market paradigm.

Key topics:

• Identifying the key drivers of the persistent and extreme bouts of market volatility
• Revealing common sources of unintended risks and how to mitigate them
• Uncovering critical portfolio considerations for this new age of volatility

Navigating a New Risk Paradigm

The ability to fine-tune portfolio exposures based on current market prices and return-enhancing characteristics has evolved considerably with financial science. Yet how indices define asset classes and manage reconstitution impose constraints on index trackers. Are there risks to becoming too factor focused with passive index, single-factor and multi-factor strategies?

During this session we will:

• Examine some of the similarities and differences in how indices define asset classes and manage reconstitution
• Contemplate whether factor-building has been overdone, and examine the risks of becoming too factor focused
• Highlight some of the constraints these decisions can place on index trackers
• Propose how a systematic approach can deliver benefits commonly associated with indexing/factor-based approaches while removing artificial constraints

Has Factor-Building Been Overdone? Assessing Tradeoffs in Systematic Strategies

MARTIN NYBYE SØRENSEN OF JYSKE CAPITAL will discuss how credit investors significantly benefit from including a structured approach to multi-factor investing in their portfolio regardless of the market environment. We demonstrate how a combination of three main factors: Value, Momentum and Quality can provide investors with consistent risk adjusted alpha through a cycle and argue why it needs to be combined with a traditional qualitative issuer research process and a risk balanced portfolio implementation. 

BENJAMIN BRODSKY OF BLUECOVE will explain that scientific high-yield Investing relies on a transparent, structured investment process based on economic intuition. It takes advantage of market inefficiencies that are underexploited by most market participants as it applies its investment insights daily to securities in the global liquid high-yield universe. Scientific Investing benefits from the expanding data landscape, increasing market breadth and the growing electronification of trading. The resulting alpha is generally uncorrelated to risk markets and differentiated from existing discretionary approaches.

Speakers:
Benjamin Brodsky, CFA, Chief Investment Officer, BlueCove
Martin Nybye Sørensen, Head of Corporate Bonds at Jyske Capital

Moderator:
Martin Hurst, Director of Communications, IPE

High Yield Debt: Multi-Factor Investing & Scientific HY Investing Explained

2023 has ushered in an auspicious start to the year for European equities. As investors look for value in the region, they are increasingly tapping the market with sustainability objectives. Flagship benchmarks such as the STOXX® Europe 600, EURO STOXX 50® and DAX® already offer liquid versions with different degrees of ESG integration. But clients’ needs continue to evolve, and as they consider new solutions, they must evaluate whether those help them with the following:
 
• Adopt the right strategy for a diverse set of goals 
• Incorporate new datasets and advanced methodologies
• Comply with regulation and reporting
• Optimize the relationship between sustainability impact and return
• Target key emerging themes including biodiversity
 
Join DWS’ and Qontigo’s index and sustainability experts for a seminar that will explore Europe’s ever-broadening sustainable investing landscape.

Speakers:
Sebastian Schiele, Head of Xtrackers Mandates Sales EMEA & APAC, DWS Group
Melissa Brown, Managing Director, Applied Research, Qontigo
Vera Cady, Director, Index Product Management, Qontigo

Navigating Europe’s equities and sustainable investing landscape

Large investors are increasingly integrating sustainability into their investment principles and goals as they seek to build more resilient and diversified investment strategies. Biodiversity loss echoes climate change as a systemic risk that needs to be understood and managed – for portfolios right now, and in order to ensure that we have a viable, and investible, economies long into the future. Join our investment experts for their insights on harnessing listed equities within your investment strategy for pension schemes and insurance companies seeking positive, impactful change that protects people and planet. Topics will include:
 
• What are the forces driving a biodiversity-friendly transition and how does regulation fit into the picture?
• Why is biodiversity important for your pension scheme and insurance company, and what are the challenges of seeking to deliver impact?
• How can institutional investors use listed equities to tackle biodiversity loss, manage risk and support solutions seeking positive outcomes?
• How do we identify companies which contribute real and measurable impact around biodiversity? 

Speakers:
Tom Atkinson – Portfolio Manager – Biodiversity and Clean Economy
Liudmila Strakodonskyaya – ESG Analyst - Research
Stephane Lago – Head of Investment Specialists Equity
 
Moderator:
Rachel Basarab-Horwath – Head of Global Pension Group

How can institutional investors make an impact on biodiversity in portfolios?

In the UK, post the Competition and Markets Authority (CMA) review of the fiduciary market, the trustee buyers have focused on the process of market testing on a periodic basis, the use of third party evaluators and on ensuring separation between investment and advisory business. But does this miss the area of both independence of reporting and oversight and leave Trustees in some models overly reliant on the fiduciary provider?

Is there a real case for Trustee boards to think more about evidencing greater independent oversight and control of assets while using a fiduciary platform and should more thought should be given to what happens when they want to review or change their manager?
Did events of last year throw up any challenges to some fiduciary models that need to be taken into account and addressed?

Presented by: 
– Mark Austin, Pensions and Insurance Executive, Europe, Northern Trust
– Nikesh Patel, Managing Director, Head of Client Solutions UK, Van Lanschot Kempen
– Anne-Marie Gillon, CFA, Director, IC Select Ltd

Moderated by: Brendan Maton

In the fast growing world of fiduciary management – has governance kept pace?

Join Aviva Investors’ Real Assets team as they zero in on the big themes investors should watch out for over the coming year.
 
First, you’ll hear from David Hedalen, Head of Real Assets Research, who will give his take on relative value, illiquidity premia, risks and opportunities across real estate, infrastructure and private debt.
 
Then, Mark Meiklejon, Head of Real Assets Investment Specialists, will talk through the main findings of Aviva Investors’ Real Assets Study, which took the pulse of 500 decision makers at institutional investors in Europe, North America and Asia.
 
With a backdrop of rampant inflation, rising interest rates, geopolitical risk and concerns over greenwashing, the Study provides critical insight into:
 
• How this challenging environment is impacting investor sentiment and allocations
• Investor views on the best way to access opportunities
• A deep dive on the prospects for sustainable real assets.
 
A panel discussion will follow with Ben Sanderson, Daryl Murphy, Munawer Shafi and Zoe Austin, who will be discussing where they see some of the best opportunities.
 
We hope you can join us!
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Presented by:
• Ben Sanderson, Managing Director, Real Estate
• Daryl Murphy, Managing Director, Infrastructure
• Mark Meiklejon, Head of Real Asset Investment Specialists
• Munawer Shafi, Head of Multi Asset (Real Assets)
• Zoe Austin, Portfolio manager
• David Hedalen, Head of Real Assets Research

Real assets in the spotlight

The term ‘active ETFs’ is often viewed as a contradiction by many market participants who only know ETFs as passive building blocks in their portfolios, however, the demand for active ETFs is growing globally.

This webinar will debunk some of the myths around active ETFs: Join Ivan Durdevic, Head of ETF Distribution for Austria, Germany and Switzerland discussing the advantages of accessing active strategies through the ETF wrapper and analysing where the market is heading next. He will be joined by Yo Takatsuki, Global Head of Investment Stewardship, exploring how J.P. Morgan Asset Management is getting active on engagement with ESG ETFs.

Presented by:
– Ivan Durdevic, Head of ETF Distribution in Austria, Germany and Switzerland, J.P. Morgan Asset Management
– Yo Takatsuki,  is the Global Head of Investment Stewardship, J.P. Morgan Asset Management

Moderated by: Brendan Maton

Active ETFs – debunking the myths

Private credit funds invested during or in the immediate aftermath of recessions have performed well on a historical basis. Join Randy Schwimmer, Co-Head of Senior Lending at Nuveen’s private capital investment specialist, Churchill Asset Management and Joe Lee, Principal in the Underwriting & Portfolio Management group for their outlook on middle market senior loans and the unique opportunity ahead. Topics will include:

• How are higher rates impacting middle market lenders and borrowers?
• Will there be a shake-out of direct lenders given recession and rate worries?
• How are higher asset yields and the denominator effect affecting private credit portfolio allocations?
• How should private credit investors balance perceived higher risk with higher returns in a potentially higher default environment?
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About Nuveen:
Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.1 trillion* in assets under management as of 30 Sep 2022 and operations in 27 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. Churchill Asset Management is a majority-owned affiliate of Nuveen with $46 billion in committed capital, and one of the largest, most experienced private capital managers providing financing solutions to middle market private equity firms and their portfolio companies across the capital structure. For more information, please visit www.nuveen.com

* As of 30 Sep 2022. Nuveen assets under management (AUM) is inclusive of underlying investment specialists. Totals may not equal 100% due to rounding.

2023 Outlook: The Unique Opportunity for U.S. Middle Market Senior Loans

Spurred in large part by the increasing adoption of e-commerce and global supply chain disruption because of the COVID-19 pandemic, the U.S. logistics real estate sector saw unprecedented growth over the last few years.  But will the sector be able to stay hot with the tightening of capital markets and the prospects of global macroeconomic uncertainty looming?  Please join us for an engaging webinar on the future of U.S. logistics hosted by senior leaders from CBRE Investment Management and Trammell Crow Company. These experts include investment, development and operational leaders specialized in the logistics asset class, as well as our head of research for the Americas.

After this sixty-minute session, attendees will have a deeper understanding of:

- The state of the U.S. logistics markets today
- Occupier sentiment and the features occupiers are now demanding
- Why modernity matters to the future of logistics and the future impact of functional obsolescence
- The impact these evolved demands are having on supply
- The impact that the tightening of capital markets is having on supply
- Why commercial real estate investors need to re-examine their portfolio to see if it is “futureproofed”
- Where we see opportunities
- How to execute on these opportunities

Audience interaction through questions will be highly encouraged and our experts will address everyone’s questions live or with a follow-up.

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Presented by:
– Mary Lang - Head of Americas Direct Logistics Strategies and Portfolio Manager
– Tommy Lee - Chief Investment Officer TCC
– Adi Mayan - Head of Logistics Asset Management and Customer Experience Lead for the Americas Direct Real Estate Platform
– Shane Taylor - Americas and APAC Head of Research

Moderated by: Brendan Maton

Industrial is Obsolete – The Future is Logistics

This seminar answers the questions on institutional investors’ minds regarding one of the most talked about topics in the alternative investment community. Why would a sponsor (GP) want to access the secondary market? What are the benefits to investors (LPs)? Is this a new investment strategy or a trade? Is this a win-win-win for sponsors, old investors and new investors? Why might you look to allocate to GP-led secondaries if you already invest in traditional LP secondaries? Join Jeff Hammer and Paul Sanabria, Co-Heads of Secondaries at Manulife Investment Management, as they discuss factors which led to GP-led secondaries representing half of the $134 billion[1] secondary market in 2021, and why it is likely to be a meaningful part of the secondary market in 2023 and beyond.

[1] Evercore Secondary Market Survey January 2022

Presented by:
– Jeff Hammer, Senior Managing Director, Global Co-Head of Secondaries, Private Markets, Manulife Investment Management
– Paul Sanabria, Senior Managing Director, Global Co-Head of Secondaries, Private Markets, Manulife Investment Management

Moderated by:
– Sunaina Sinha Haldea, Global Head, Private Capital Advisory, Raymond James

GP-led secondaries – motivations, mechanics, and outcomes

Alternative investments

Secondaries

Investment Strategy

Institutional investors

Asset Management

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GP-led secondaries – motivations, mechanics, and outcomes

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