FFA Event

FFA U 2.0 - US

Name: FFA U 2.0 - US
Start: 2024-10-17T09:00:00Z
End: 2024-10-17T17:00:00Z
Location: Manhatta

October 17, 2024

9:00 AM - 5:00 PM EDT

New York, NY

This intensive full-day training session will occur in-person in New York on October 17, 2024. The program is designed for mid-level bankers and lawyers transacting under U.S. law and will cover advanced issues in subscription facilities, NAV loan structures and issues, Collateralized Fund Obligations and the PE business model. A complimentary networking reception sponsored by KBRA and Cadwalader, Wickersham, & Taft will follow.

Cost: $695 USD

Ned DiLisio

Evercore

Technical Due Diligence of CFO Structures

1:20 PM | 2024-10-17

Ned DiLisio

Vice President | Evercore

Ned DiLisio is a Vice President in Evercore’s Private Capital Advisory team, specializing in structured solutions and debt capital markets efforts.

Mr. DiLisio has 10 years of banking and consulting experience in the alternative investment management industry.

Prior to joining Evercore, he was a Director in the Financial Institutions Group at UBS Investment Bank, where he helped develop the group’s CFO practice. Mr. DiLisio holds a B.A. in Political Science from Middlebury College.

Brian Foster

Cadwalader, Wickersham & Taft

Secondaries and NAV Loan Structures, Issues, and Underwriting

9:55 AM | 2024-10-17

Brian Foster

Partner | Cadwalader, Wickersham & Taft

Brian Foster is a partner in Cadwalader’s Finance Practice and a member of Cadwalader’s market leading fund finance team. Brian focuses on financing, derivatives and structured products transactions involving financial institutions and investment funds. His experience covers a broad range of derivatives (including OTC trades, structured notes, options, forwards and swaps, with particular focus on equity- and fund-linked derivatives) and financing arrangements (including secondaries financing, fund of hedge fund and single manager hedge fund leverage, management company loans, dividend recapitalizations, NAV facilities, subscription lines, hybrid transactions, preferred share issuances, collateralized fund obligations, margin loans, securities lending and repo facilities and prime brokerage arrangements).

Prior to joining Cadwalader, Brian worked at Lehman Brothers Holdings Inc. in connection with the unwinding of its derivatives book in bankruptcy. He also worked as a structurer in Global Fund Derivatives at Deutsche Bank, where he arranged fund finance transactions and fund-linked structured product transactions.

Brian has been recognized as a leading lawyer in Derivatives and Structured Products by Legal 500 USA and is ranked Tier 2 for Capital Markets: Structured Products in Chambers USA.

Brian received a B.A., magna cum laude, from Santa Clara University, and his J.D., cum laude, from Georgetown University Law Center. He speaks Spanish and has studied and worked in Latin America. He is admitted to practice in the State of New York.

Tom Glover

BC Partners

Structuring and Underwriting GP and Management Company Facilities

3:50 PM | 2024-10-17

Tom Glover

Senior Advisor | BC Partners

Tom began his partnership with BCP Credit in 2021. He previously led Investec’s North American Fund Finance business. Tom spent 15 years at BMO Capital Markets where he helped create and grow the Financial Sponsors Group and BMO’s broader investment banking franchise from their nascent stages. At BMO, Tom was involved in 230 successful mandates with private equity portfolio companies including M&A, equity and debt financings across many industry sectors. Prior to BMO, Tom co-founded and co-headed Deutsche Bank’s Americas high yield business as head of origination, headed Merrill Lynch’s leading telecom leveraged finance franchise and spent ten years at Goldman Sachs, where he was a senior banker within their high yield business. Tom began his career in investment banking at Donaldson, Lufkin & Jenrette.

Lawrence Hamilton

Mayer Brown

Terence Hatton

MUFG Bank Ltd

Advanced Issues in Subscription Facilities

9:05 AM | 2024-10-17

Terence Hatton

Managing Director | MUFG Bank Ltd

Terry Hatton is a Managing Director and head of the Fund Finance Group for MUFG in New York. MUFG’s fund client base includes real estate, mezzanine, infrastructure, energy, private equity and venture capital. The bank has built an established track record, providing fund sponsors with competitive lending products, inclusive of subscription and bridge capital call facilities; senior and asset-based debt financing for general industries, as well as health care, environmental, and aerospace and defense. Terry has a bachelor’s degree from University of Western Ontario.

Julia Kohen

Simpson Thacher

Advanced Issues in Subscription Facilities

9:05 AM | 2024-10-17

Julia Kohen

Partner | Simpson Thacher

A Partner in Simpson Thacher’s Fund Finance Practice, Julia Kohen concentrates her practice on representing financial sponsors in connection with debt financings for their private equity, real estate, energy, infrastructure, credit and other investment funds. She has extensive experience in complicated financings designed to provide fund-level leverage to facilitate and support investment activities, as well as management lines and co-investment loan programs. Julia has been recognized by Law360 as a 2020 “Rising Star” in Banking.

In addition, Julia has co-authored chapters in several editions of Global Legal Insights’ Fund Finance guide, which covers legal trends and developments in the greater fund finance market and provides law firms, financial institutions, funds and investors with comprehensive insight.

Mike Mascia

EverBank

Welcome and Introduction

9:00 AM | 2024-10-17

NAV Transaction Case Study - Session I

11:45 AM | 2024-10-17

NAV Transaction Case Study - Session II

4:35 PM | 2024-10-17

Closing Remarks

5:25 PM | 2024-10-17

Mike Mascia

Head of Fund Finance | EverBank

Mike Mascia is the former Chair of Cadwalader, Wickersham & Taft’s Finance Group and was a member of the firm’s Management Committee. He had a globally recognized fund finance practice, having represented lenders in subscription credit facilities to real estate and private equity funds sponsored by many of the world’s preeminent fund sponsors. He has been lead counsel on numerous hybrid facilities, and is one of the few attorneys in the United States with experience in both subscription credit facilities and CLO’s. Mike represents lenders on leverage facilities to secondary funds and other credits looking primarily to fund assets or NAV for repayment. Mike is the founder of the annual Global Fund Finance Symposium and he is a founding member and the Secretary of the Funds Finance Association.

Wesley Misson

Cadwalader, Wickersham & Taft LLP

Closing Remarks

5:25 PM | 2024-10-17

Wesley Misson

Head of Fund Finance, U.S.; Co-Chair Finance Group | Cadwalader, Wickersham & Taft LLP

Wes Misson is Head of Fund Finance in the U.S. and co-chair of Cadwalader’s Finance Group. He leads the largest and most experienced team in the U.S. market, which collectively with Cadwalader’s UK Fund Finance practice represents credit providers on Subscription Credit Facilities, NAV-Facilities, Hybrids, Pref Equity Structures, GP Financings, Venture Debt and Capital Relief and Risk Transfer Trades for private equity, real estate and other investment funds of all sizes and vintages sponsored by many of the world’s preeminent fund sponsors. Wes has represented financial institutions as lenders and lead agents in hundreds of Subscription Credit Facilities, Hybrid Facilities, NAV Facilities and other types of fund financings during the course of his career. His experience also encompasses being a market leader on ESG facilities while serving on the firm’s ESG Task Force and being a problem solver for more than a decade-plus working with fund-related borrowers on the negotiation of third-party investor documents with institutional, high net worth and sovereign wealth investors.

Wes was featured in the Financial Times North America Innovative Lawyers 2021 Report in the “Sustainability” category for his representations on nine environmental, social and governance (ESG)-related fund facilities in the U.S., including his work advising Bank of America on a $4.1 billion ESG-linked credit facility tied to Board diversity for funds managed by The Carlyle Group.

Wes has served as lead counsel on many of the largest and most sophisticated fund financings ever consummated. Over the past two years alone, he has advised more than 35 banks as lead or syndicate lender in transactions valued in excess of $75 billion in terms of lender commitments.

Beyond his client work, Wes is very active in broader industry initiatives, as a prolific author and educator on fund finance, including as a regular contributor to the firm’s weekly newsletter, Fund Finance Friday, and as a year-round speaker at and participant in related events, including as part of the Fund Finance Association (FFA), the industry’s main networking association. He is also deeply involved in charitable work as chairman of the Board of Directors of the North Carolina Chapter of the Alzheimer’s Association, and enjoys spending time with his family.

Wes has a J.D. from The Ohio State University Moritz College of Law and a B.A. from the University of North Carolina at Chapel Hill.

Gopal Narsimhamurthy

KBRA

Key Factors and Trends in Fund Finance Credit Ratings

2:50 PM | 2024-10-17

Gopal Narsimhamurthy

Managing Director, Global Head of Fund Ratings | KBRA

Gopal Narsimhamurthy is a Managing Director within the Funds Rating Group at KBRA. Gopal has been with KBRA since 2014 and has worked across a number of analytical areas including structured finance, public finance, and project finance.

From September 2017 to August 2019, he relocated to Dublin, Ireland, to provide analytical coverage for European structured finance transactions and support KBRA’s growth initiatives across the region. Previously, he was an associate analyst at Moody’s Investors Service, where he specialized in higher education and health care credit analysis.

Gopal holds a Bachelor of Arts in economics from Rutgers University and a Master of Public Administration with a concentration in finance from New York University.

Joe Rocco

Blackstone

The Private Equity Business Model

2:05 PM | 2024-10-17

Joe Rocco

Managing Director | Blackstone

Joseph Rocco is a Managing Director in Blackstone Treasury and is involved in credit and risk management initiatives for Blackstone’s Treasury operations, including risk assessment for the firm’s cash management and investment strategies. He works closely with counterparts from throughout the firm and its funds on funding initiatives and FX hedging and trading strategies. Prior to joining Blackstone, Mr. Rocco worked at Moody’s Investors Service covering residential mortgage and asset-backed securities where his primary responsibilities included rating surveillance, methodology development and sector commentary. Mr. Rocco holds an MBA from New York University’s Stern School of Business and a BS in Finance from Fordham University.

Liz Tabas Carson

Sidley Austin LLP

Structuring and Underwriting GP and Management Company Facilities

3:50 PM | 2024-10-17

Liz Tabas Carson

Partner | Sidley Austin LLP

Elizabeth Tabas Carson represents alternative lenders, investors, asset managers, hedge funds, traditional banks, and investment banks, as well as corporate borrowers, financial sponsors and their portfolio companies on a wide range of complex domestic and cross-border leveraged finance and special situations transactions. Liz has extensive experience in structuring and negotiating private financings, secured and unsecured lending transactions, cash flow and asset-based leverage facilities, merger and acquisition financing, mezzanine and second lien financings, debt restructurings and workouts, recapitalizations, SPAC and de-SPAC support transactions, fund financings, private debt, and financings of alternative assets, including structuring financings and liquidity solutions for investment funds and asset managers, public and private companies, and not-for-profit institutions.

Liz’s practice focuses on distressed debt, regulated and complex debt offerings in private and public markets with a particular focus on asset managers, healthcare, life sciences, technology, intellectual property, concentrated NAV financings, and other transactions involving regulated and esoteric asset classes. She has in-depth experience with deals of all sizes, from bi-lateral domestic financings and “club” deals for emerging growth and middle-market companies to more broadly syndicated credit facilities for large publicly traded companies, as well as private sponsor-owned businesses with cross-border operations.

Liz has been recognized by several industry publications, including IFLR 1000 (2020–2021) and Chambers USA (2021–2024).

Jeremy Tan

Macquarie

Secondaries and NAV Loan Structures, Issues, and Underwriting

9:55 AM | 2024-10-17

Jeremy Tan

Head of Structuring, Fund Finance | Macquarie

Jeremy is the global head of structuring for Macquarie’s Fund Finance business, focusing on providing asset-backed facilities and bespoke subscription commitment facilities to both primary and secondary fund managers across private equity, private credit, infrastructure and real assets. Jeremy has over 15 years of experience underwriting, structuring and syndicating transactions in the US, EMEA and APAC regions. He is known for his decisive leadership and collaboration across businesses as well as playing a significant role in the development of many junior team members at Macquarie. Jeremy received a Bachelor of Commerce from the University of New South Wales in 2008.

Cadwalader, Wickersham & Taft LLP

With over 225 years of legal experience, Cadwalader, Wickersham & Taft LLP serves a diverse client base, including many of the world’s leading financial institutions, funds, Fortune 500 companies and other leading corporations, and individual private clients. With offices in New York, London, Charlotte and Washington, D.C., Cadwalader offers legal expertise in antitrust, banking, corporate finance, corporate governance, energy, environmental, executive compensation, finance, financial restructuring, health care, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitisation, structured finance, tax and white collar defense. Cadwalader has more than two decades of experience in fund finance, providing practical, yet cutting edge, advice to a wide variety of financial institutions active in the space. The Fund Finance team regularly represents the agent, lead arrangers and lenders on subscription credit and capital call facilities to real estate, private equity and other investment funds.

Manhatta

: 28 Liberty St 60th floor
New York, New York 10005
https://maps.app.goo.gl/vB711sXjoKwdrS8y9

: +12122305788

: https://www.manhattarestaurant.com/private-events/