FFA Event

FFA US University 2.0

Name: FFA US University 2.0
Start: 2022-10-06T08:30:00Z
End: 2022-10-06T19:00:00Z
Location: Cadwalader, Wickersham & Taft LLP

October 06, 2022

8:30 AM - 7:00 PM EST

New York, NY

This intensive full-day training session will occur in-person in New York on October 6, 2022. 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 will follow. A detailed curriculum will be announced shortly.

Cost USD$495 per attendee.

Curriculum subject to change. Updated 9/27/2022

Zac Barnett

Fund Finance Partners

The Credit Provider Spectrum

2:30 PM | 2022-10-06

Zac Barnett

Co-Founder | Fund Finance Partners

In his 20+ years of experience as an attorney and advisor in the fund finance space, Zac is considered a pioneer of the industry. He has represented investment banks and fund sponsors on some of the largest, most complex fund financings, earning him annual recognition in Chambers. His broad range of experience in connection with loans to various real estate, private equity, secondaries, private credit, energy, infrastructure and hedge funds provides FFP with the knowledge necessary to guide fund sponsors through the process of securing various fund financings.

His deep understanding of fund formats has led to the development of creative fund finance structures including hybrid and NAV structures, fund of fund and fund of hedge fund facilities, private placements, open-end fund lending structures and several different variations of fund aftercare facilities.

As the Global Head of Mayer Brown’s Fund Finance practice and Co-Head of their Global Lending practice, Zac led over 500 fund financings including 350 individual subscription-backed credit facilities. Zac also co-founded the Annual Fund Finance Symposium, now administered by the Fund Finance Association.

Zac maintains a high-profile presence in the private equity and fund finance spheres. He is the pre-eminent writer in the space having authored more than 50 articles on various topics relating to the laws, regulations, economic rationale and structures impacting the fund finance universe. He regularly moderates and sits on industry panels; his work has been cited in a number of prominent publications, from the Los Angeles Times to Private Equity International, Bloomberg and others.

“Smart, hard-working and personable – he is able to clearly outline the business issues and come to thoughtful compromises.” -Chambers and Partners

Ron Franklin

Proskauer

Collateralized Fund Obligations

4:00 PM | 2022-10-06

Ron Franklin

Partner | Proskauer

Ron D. Franklin is co-head of Proskauer's Corporate Finance Group and leads the Firm’s Fund Finance practice. He advises clients across a broad spectrum of finance issues, including secured and unsecured lending transactions, domestic and cross-border acquisition financings, all types of fund financings, project financings, workouts, restructurings and general banking concerns. He also counsels corporate clients regarding stock and asset acquisitions, contract negotiations and general corporate matters.

Andie Goh

Ares

Collateralized Fund Obligations

4:00 PM | 2022-10-06

Andie Goh

Principal – Alternative Credit | Ares

Andie Goh is a Principal at Ares Management, where she focuses on Alternative Credit investments. She is responsible for the deployment of capital in asset-focused opportunities across a wide variety of collateral types including fund finance. Ms. Goh holds a B.S. from the New York University Stern School of Business in Finance, and an M.A. from Columbia University in Mathematics. She co-founded and serves as Global Co-Chair for the Out at Ares Employee Resource Group.

Terence Hatton

MUFG Bank Ltd

Advanced Issues in Subscription Facilities

9:05 AM | 2022-10-06

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.

Jocelyn Hirsch

Kirkland & Ellis LLP

Market Update

4:45 PM | 2022-10-06

Jocelyn Hirsch

Partner | Kirkland & Ellis LLP

Jocelyn Hirsch is a partner at Kirkland & Ellis LLP whose practice focuses primarily on the representation of private equity sponsors and corporate borrowers in complex financing transactions, including leveraged buyouts, cross border facilities, asset based facilities and sponsor capital call/subscription and NAV facilities. Her experience in private equity covers multiple sectors including real estate, energy, infrastructure, secondary and financial services funds with aggregate funds raised totaling tens of billions of dollars. Jocelyn's client list spans the globe and includes Warburg Pincus, Vista Equity Partners, Ares, Golub Capital, HGGC, LS Power, TPG, JPM Infrastructure, Summit Partners and GTCR, among others.

Jocelyn is nationally regarded as a leading voice in the fund facility market and represents many of the world’s preeminent private equity, debt and related investment funds in complex and bespoke fund financings. She is routinely called upon to speak on fund finance topics.

John Hogan

KBRA

Key Factors and Trends in Fund Finance Credit Ratings

11:10 AM | 2022-10-06

John Hogan

Head of Ratings Legal and Managing Director | KBRA

John Hogan is a Managing Director and In-house Counsel focused on European and UK structured finance transactions at Kroll Bond Rating Agency (KBRA). As of May 2021, he assumed the role of Head of Ratings Legal at KBRA and is based in London.

Prior to joining KBRA, John was a covered bond analyst at Moody’s Investors Service. Previously to Moody’s, he worked as in-house counsel focused on structured finance transactions at several investment and retail banks in London and Dublin. John qualified as a solicitor at Clifford Chance LLP.

John holds an L.L.B. from Trinity College Dublin.

Jeff Johnston

EverBank

Fund Finance Association Update

3:45 PM | 2022-10-06

Jeff Johnston

Head of Asset-Backed Finance | EverBank

Jeff Johnston is Senior Vice President, Head of Asset-Backed Finance, for EverBank.

Prior to joining the bank, Mr. Johnston was a Managing Director and the Head of Asset Management within Wells Fargo’s Corporate & Investment Banking group with oversight of a nearly $100 billion portfolio of bank commitments.

Prior to founding the Subscription Finance business at Wells Fargo in 2010, Mr. Johnston was responsible for the portfolio and workout of over $10B of legacy structured products for the bank, including cash and synthetic ABS and CRE CDO’s, total return swaps, and RMBS positions. Prior to joining Wells Fargo, Mr. Johnston served in Bank of America’s Global Structured Products group.

Mr. Johnston is a Co-founder and Chairman of the Board for the Fund Finance Association, a global industry association for constituents in the fund finance space, is considered an original thought leader of fund finance and is a frequent speaker at industry conferences.

Mr. Johnston is a CFA charter holder and is a graduate of the University of South Florida.

Mike Mascia

EverBank

Welcome & Introduction

9:00 AM | 2022-10-06

Closing Remarks

5:15 PM | 2022-10-06

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.

Nick Mitra

Société Générale

Market Update

4:45 PM | 2022-10-06

Nick Mitra

Managing Director | Société Générale

Nick Mitra is a Managing Director in the Credit & Structured Financing platform at Société Générale. He is part of the team responsible for Capital Call, Hybrid, NAV facilities and PE Secondaries financings. Prior to joining Société Générale, Nick worked at Natixis where he headed the Capital Call financing business, He has also worked at Goldman Sachs and Accenture in different roles and was the CFO of an entrepreneurial start-up – UConnections.com – aimed at the education space. Nick started his career at Lehman Brothers as a trader’s assistant in the security lending/repo area. Nick has approximately 18 years of experience in the financial sector. Nick is also a co-founding member of the Fund Finance Association, an industry group dedicated to Fund Finance and related products, where he sits on the Board of the Association.

Nick holds an MBA in Finance from NYU and a BS in Finance from Lehigh University, and is a CFA charter holder. He is also the First Vice Chairman of the Fund Finance Association.

Gopal Narsimhamurthy

KBRA

Collateralized Fund Obligations

4:00 PM | 2022-10-06

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.

Pramit Sheth

Whitehorse Liquidity Partners

Key Factors and Trends in Fund Finance Credit Ratings

11:10 AM | 2022-10-06

Pramit Sheth

Senior Principal, Head of Structured Products | Whitehorse Liquidity Partners

Pramit Sheth joined Whitehorse Liquidity Partners in 2023 and has 18 years of credit experience in the structured and fund finance industry. Prior to joining Whitehorse, Pramit spent 12 years with Kroll Bond Rating Agency as a Senior Managing Director. In his most recent role there, Pramit was accountable for all new and existing Investment Funds debt ratings globally. Prior to that he was a senior member of the CMBS Structured Finance Ratings team, where he helped develop various methodologies and was part of the analytical credit team. Pramit holds a Bachelors Degree in Finance and Information Systems with a concentration in Mathematics from NYU’s Stern School of Business.

Michael Timms

17Capital

Daniel Toblib

Macquarie Group

NAV Loan Structures and Issues

10:10 AM | 2022-10-06

Daniel Toblib

Head of Fund Finance Origination, APAC | Macquarie Group

Daniel Toblib is the Head of Fund Finance Origination for Asia-Pacific (APAC) at Macquarie Bank. In his role, Daniel partners with private equity, private credit and hedge fund sponsors and investors to provide fund financing solutions.

Daniel has been at Macquarie since February 2016 and covers APAC from the firm’s global headquarters in Sydney.

Notably, Daniel spent over 5 years in New York, where he led Macquarie’s Fund Finance structuring function across North America. Over this time, he built deep expertise in providing bespoke and innovative financing solutions across the fund lifecycle, where the Fund Finance business was recognised on multiple occasions as PDI’s Fund Financier of the Year in the Americas.

Daniel has a Bachelor of Commerce (Distinction) and Bachelor of Economics (Distinction) from the University of New South Wales, Australia.

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