INVESTING IN NON-TRADITIONAL REAL ESTATE CLASSES
Wednesday February 20, 2013
7:15 am to 8:15 am
What will be covered:
• Examine how you can invest in more specialized asset types, such as
Hospitality, Healthcare, Owner Occupied and Special Use properties
• Learn about unique property metrics such as RevPar (Hotel), Price per
Bed (ALF and SNF), Economic Occupancy (Self Storage), Rent per Linear
• Understand how typical real estate measures such as NOI, Cap Rates and
Appraised Value are impacted by the business and credit attributes of
these specialized asset types
• Find out who is holding these assets, and which institutions are likely to
be actual sellers and not just ‘price checkers’
How you will benefit:
• Learn to spot real estate investments “far from the madding crowds”
allowing you to bring broader diversity to your portfolio holdings
• Discover where the bargains can be found, which sub-sectors are likely
to rebound earliest, and which asset types to avoid
• Learn to leverage and extend classic distressed credit underwriting
strategies across many different real estate asset categories.
Mr. Bornstein founded MBG Partners in 2012, after having successfully launched and established Indigo Asset Management in 2008. He has been actively acquiring and managing distressed loans since 2001. From 2001 to 2005, he acquired non-performing and performing loans and leases for GE Capital, both as an originator and as legal counsel. From 2005 to 2007, he acquired non-performing and performing commercial loans and leases for several institutionally sponsored managed accounts.
Prior to becoming an investor in loan and lease portfolios, Mr. Bornstein was Corporate Counsel for GE Capital in its equipment financing business. Before joining GE in 1995, Mr. Bornstein practiced law as a specialist in bankruptcy/restructuring and corporate finance for 7 years at the firms of Fried, Frank, Harris, Shriver & Jacobson and Mayer, Brown & Platt. Mr. Bornstein received his A.B. in Honors Economics from the University of Michigan – Ann Arbor, and his J.D. from New York University School of Law.
About The Conference:
iGlobal Forum is pleased to announce the 4th Global Distressed Debt Investing Summit due to take place on February 20th, 2013 in New York City. Distressed debt investors are facing vast uncertainty, a protracted recovery from the global downturn, expectations of a double-dip recession and low default rates. The managers who do not want to compromise their investment strategies are having to dig deep to find opportunities, and the supply/demand imbalance is pushing up value expectations. This one-day meeting will synthesize the most pertinent themes in the field of distressed debt investing. Attendees will take part in the hottest debates, listen to the best projections for 2013, and meet the industry's leading participants. The summit will present the perfect platform for networking and face-to face discussions with the leading Distressed Fund Managers, Private Equity Fund Managers, Hedge Fund Managers, M&A and Turnaround Advisors, Investment Bankers, Bankruptcy Advisors, Loan Originators, Debt Providers, and Rating Agencies.
KEY TOPICS THAT WILL BE COVERED:
- Examine the Drivers of Change Across the Distressed Industry
- Uncover Investment Opportunities in Foreign Jurisdictions
- Profit from Changing Perspectives on Corporate Credit
- Identify Distressed Debt Niches & Flexible Funding Structures
- Distressed Opportunities – Which Industry?
- Consequences of the Real Estate Crisis
- Key Macro Themes for 2013 and their Impact on the Distressed Debt Market
- Plus a pre-conference workshop on Investing in non-Traditional Real Estate Classes
NETWORK WITH LEADING:
- Distressed Fund Managers
- Private Equity Fund Managers
- Hedge Fund Managers
- M&A and Turnaround Advisors
- Investment Bankers
- Bankruptcy Advisors
- Loan Originators
- Debt Providers
- Rating Agencies
200+ SENIOR-LEADERS JOINED US FOR OUR 3rd ANNUAL DISTRESSED DEBT SUMMIT LAST YEAR:
CONNECT WITH US!
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Managing Director, Hybrid Funds
FORTRESS INVESTMENT GROUP
Managing Director, Lead Restructuring Counsel
HIGHLAND CAPITAL MANAGEMENT
PALATINE CAPITAL PARTNERS
Managing Partner & CIO
MARBLEGATE ASSET MANAGEMENT
Director, US Business Recovery Services
Steven Gallen Edersheim
Co-Founder & Portfolio Manager
CREDIT RENAISSANCE PARTNERS
Senior Managing Member
FOXHILL CAPITAL PARTNERS
Millan L. B. Mulraine
Senior U.S. Strategist, Rates & FX Research
TD SECURITIES USA
Managing Director & Head of Distressed Investing
SIGULER GUFF & COMPANY
Stuart J Lissner
APEX FUNDAMENTAL PARTNERS LLC
RAITH CAPITAL PARTNERS
MARATHON ASSET MANAGEMENT
CEO & Managing Principal
STABILIS CAPITAL MANAGEMENT
Practice Leader, Business Recovery Services
PMD CAPITAL MANAGEMENT
Robert J. Koltai
Founder & Portfolio Manager
HAIN CAPITAL GROUP
Michael M. Mezzacappa
SCHULTE ROTH & ZABEL
William R. Wagner
PEPPER HAMILTON LLP
Stuart J Lissner
APEX FUNDAMENTAL PARTNERS LLC
Matthew M. Baron
SIMON DEVELOPMENT GROUP
Michael B. Fieldstone
ATERIAN INVESTMENT PARTNERS
VERSA CAPITAL MANAGEMENT, LLC
WL ROSS & CO
BOWERY INVESTMENT MANAGEMENT
HAYNES AND BOONE, LLP
WOLF CAPITAL ADVISORS
Executive Director – Distressed & Special Situations
WATERSHED ASSET MANAGEMENT
Donald D. Sheets
SQUARE MILE CAPITAL
HALCYON ASSET MANAGEMENT
APOLLO GLOBAL MANAGEMENT
REGISTRATION AND NETWORKING BREAKFAST
CHAIRPERSON’S WELCOME AND OPENING REMARKS
Practice Leader, Business Recovery Services PWC
|EXAMINE THE DRIVERS OF CHANGE ACROSS THE DISTRESSED INDUSTRY
- How are macro factors impacting liquidity and solvency?
- Where are default rates still lacking?
- Using crucial market data to identify indicators of near-term default rates
- What effect do central banks' policies have on corporate balance sheets?
- Deal flow - how much money has been raised, where is it being deployed, and how much capital remains uninvested?
|William R. Wagner
PartnerPEPPER HAMILTON LLP
Portfolio ManagerMOAB PARTNERS
Managing Director, Hybrid Funds FORTRESS INVESTMENT GROUP
PrincipalWL ROSS & CO
|UNCOVER INVESTMENT OPPORTUNITIES IN FOREIGN JURISDICTIONS
- Major overseas assignments and future opportunities
- How are creditors treated in different regions?
- Is a bubble forming in China? What will happen if that pops?
- Understanding overseas insolvency regimes, bankruptcy codes, restructuring processes and legal frameworks
Director, US Business Recovery ServicesPWC
|Steven Gallen Edersheim
Co-Founder & Portfolio Manager CREDIT RENAISSANCE PARTNERS
Co-FounderPMD CAPITAL MANAGEMENT
MORNING NETWORKING BREAK
|PROFIT FROM CHANGING PERSPECTIVES ON CORPORATE CREDIT
- While low default rates reduce the opportunities for distressed for control and loan-to-own strategies, a unique opportunity set is developing for middle-market stressed investments.
- Partnering with stressed companies to support their growth
- Middle market refinancing options – what is currently available?
- Employing distressed for control and loan-to-own strategies in the current climate
- Can large cap players use excess capital to successfully enter the middle market?
|Michael M. Mezzacappa
Partner, FinanceSCHULTE ROTH & ZABEL
Managing Director, Lead Restructuring Counsel HIGHLAND CAPITAL MANAGEMENT
CIOVERSA CAPITAL MANAGEMENT, LLC
|Moderator:Stuart J Lissner
Managing PartnerAPEX FUNDAMENTAL PARTNERS LLC
|IDENTIFY DISTRESSED DEBT NICHES & FLEXIBLE FUNDING STRUCTURES
- Is the market offering better short term trading opportunities vs. long term distressed investments?
- Getting post-reorganization equity
- Locating the fulcrum security
- Participating in rights offerings
- Offering DIPs
- Providing backstops and rescue capital / private offerings
Senior Managing Member FOXHILL CAPITAL PARTNERS
Managing DirectorMARATHON ASSET MANAGEMENT
Executive Director – Distressed & Special SituationsNOMURASECURITIES INTERNATIONAL
PartnerHAYNES AND BOONE, LLP
PrincipalWOLF CAPITAL ADVISORS
|DISTRESSED OPPORTUNITIES – WHICH INDUSTRY?
- Which industries are showing above-average levels of distressed opportunities?
- Which sub-sectors of the energy and shipping industries are distressed, and why?
- Where will there be dislocations?
- Examining cycles and trends in various industries
Founder & PresidentHAIN CAPITAL GROUP
Managing Partner & CIO MARBLEGATE ASSET MANAGEMENT
Co-Portfolio ManagerWATERSHED ASSET MANAGEMENT
Co-Portfolio ManagerAPOLLO GLOBAL MANAGEMENT
Managing PrincipalHALCYON ASSET MANAGEMENT
|CONSEQUENCES OF THE REAL ESTATE CRISIS
- Trends in the capital markets and leverage for non-performing loan purchases
- Pricing trends of note purchases in the marketplace
- Realized versus underwritten returns on seasoned distressed note purchases
- Measuring risk in non-performing real estate
- Delinquency rates in the CMBS loans market
- Availability and cost of capital in today's market (debt and equity)
Partner PALATINE CAPITAL PARTNERS
|Matthew M. Baron
PrincipalSIMON DEVELOPMENT GROUP
Managing PartnerRAITH CAPITAL PARTNERS
CEO & Managing Principal STABILIS CAPITAL MANAGEMENT
|Moderator:Donald D. Sheets
Senior Principal SQUARE MILE CAPITAL
AFTERNOON REFRESHMENTS AND NETWORKING BREAK
|KEY MACRO THEMES FOR 2013 AND THEIR IMPACT ON THE DISTRESSED DEBT MARKET
- Post-election and post-fiscal cliff developments; using government capital or assistance to save under-performing companies
- Impact of central banks on the financing markets
- Approach to valuing companies and securities with an uncertain economic backdrop
- Where will the major risks lie in 2013
- When will default rates pick up, and what might this mean?
- Who will be the main players for refinancing loans that are coming to term?
- Essential economic outlooks for Europe and Asia
|Michael B. Fieldstone
PartnerATERIAN INVESTMENT PARTNERS
Managing Director & Head of Distressed InvestingSIGULER GUFF & COMPANY
Managing PartnerBOWERY INVESTMENT MANAGEMENT
|Moderator:Millan L. B. Mulraine
Senior U.S. Strategist, Rates & FX ResearchTD SECURITIES USA
COCKTAIL RECEPTION & NETWORKING
Post-Event Wrap-Up Networking & Cocktail Reception with Speakers & Attendees
Helmsley Park Lane Hotel
36 Central Park South
New York, NY
iGlobal Forum is pleased to have the Summit at the Helmsley Park Lane Hotel.
To Secure a discounted rate please contact the reservation department at 1-800-221-4982.
Please reference Sherif Abouzied and iGlobal Forum.