SFNet's Asset-Based Capital Conference 2025

2:00 pm - 3:00 pm
Networking Break

3:00 pm - 4:00 pm
Opportunities and Challenges in the Non-Bank Asset Based Lending Market

4:00 pm - 5:00 pm
Lender on Lender Violence Turns Up the Heat
Over the past decade we have seen increasing incidences of companies seeking to preserve value and access incremental financing by pitting their various classes of lenders against each other. They have frequently done this by seeking to exploit various provisions in their credit agreements. Given the magnitude of debt that may need to be restructured in the next few years, and the value at stake for equity holders and lenders, the incidence of these “liability management” transactions is likely to increase over the next few years. These transactions will undoubtedly test new approaches in response to documentation changes and legal developments. This panel will explore the major recent trends in these transactions and provide their best guess on the future development of these strategies.

Moderator
Julia Frost-Davies, Partner, Greenberg Traurig
Panelists
Zoltan Donovan, Managing Director - Tradeable Credit, First Eagle Alternative Credit, LLC
Surbhi Gupta, Managing Director, Houlihan Lokey
Mark Silva, Partner, Choate Hall & Stewart LLP
Tim Tobin, Managing Director, Capital One
Aparna Yenamandra, Partner, Kirkland & Ellis

5:15 pm - 7:00 pm
Opening Reception

7:45 am - 1:30 pm
Registration Open

8:00 am - 5:00 pm
All-Day Networking and Table-Top Exhibits

8:30 am - 9:30 am
Breakfast

9:30 am - 10:30 am
ABCC Capital Markets Extravaganza – 2025
Sponsored by Bank of America
The broadly syndicated markets for bonds and loans were strong throughout 2024 despite numerous geopolitical surprises, concerns over economic direction and election uncertainty. Even with the resurgent liquidity in the broader markets the direct lending market continued to grow in size and scope. With LBO volumes at relatively low levels throughout the year, refinancing volume prevailed across all markets and spreads tightened. The asset-based market performed well throughout the year but deal flow remained muted. This panel of markets professionals will evaluate all these trends and discuss their impact as we enter 2025.

Moderator
Barry Bobrow, Managing Director and Head of Credit Markets, Regions Business Capital
Panelists
Maria Dikeos, Global Head of Loans Contributions, LSEG LPC
John Gregory, Head of Fixed Income, Citizens Capital Markets and Advisory
Lisa Hanson, Senior Vice President, Bank of America
Darryl Kuriger, Managing Director, Wells Fargo Securities

10:30 am - 10:45 am
Break

10:45 am - 11:45 am
How's Our Collateral Coverage?
With restructurings increasing and the costs of bankruptcy rising, asset based lenders’ understanding of their collateral position is ever more important. Since the height of the pandemic there have been material changes—sometimes rapid—in certain asset values. This panel of professionals with deep experience in valuing assets, reviewing appraisals, and conducting liquidations will discuss the causes of the changes as well as the impact they are having on lenders, appraisers, and borrowers. They will also discuss changes the asset based lending industry should consider to better protect their positions so as not only mitigate losses, but also ensure repayment in full.

Moderator
Michele Riccobono, Managing Director, Wells Fargo
Panelists
Scott Carpenter, Chief Executive Officer, B Riley Retail Solutions
Rick Edwards, Head of North America Retail, Gordon Brothers
Ian Fredericks, Chief Executive Officer, Hilco Consumer - Retail
Michael McGrail, Chief Operating Officer, Tiger Capital Group

11:45 am - 1:30 pm
Luncheon Panel - Economic and Policy Update
Sponsored by Goldberg Kohn
Entering 2025, we are beginning the new year with a new administration. The course of the economy was front and center during the election campaign and promises to continue to be in high focus in the new year. In addition, the new administration will have its own perspective on major policies impacting banks and the broader financial markets. With a change in administration there will be a high focus on anti-trust policy. To kick off the conference this panel, including an economist and two political consultants, will provide their analysis of the current outlook for both economics and policy.

Moderator
Laura Jakubowski, Director of Knowledge Management and Innovation, Goldberg Kohn
Panelists
Seth Bloom, President, Bloom Strategic Counsel PLLC
Lon Goldstein, President, Goldstein Policy Solutions
Michael Skordeles, Senior Vice President and Head of U.S. Economics, Truist Wealth

1:30 pm - 2:30 pm
Private Credit in High Gear
Sponsored by White Oak Commercial Finance
It was just a few years ago that Private Credit was still in its infancy. Spurred by the pandemic related illiquidity in the broadly syndicated debt markets, Private Credit has grown and matured substantially in just a short time. Significant increases in asset allocations from investors globally have enabled Private Credit to rapidly expand in size and product offerings. Several leading banks have recently announced alliances with Private Credit managers, another sign of rapid growth and evolution. This panel of industry leaders in Private Credit will discuss the rapid growth, recent structure and fund raising innovations, and the overall complexities surrounding private credit as an asset class as it seeks to continue its rapid growth.

Moderator
Holly Etlin, Partner, Alix Partners
Panelists
Ted Koenig, President & CEO, Monroe Capital LLC
Curt Lueker, Managing Director and Head of Direct Lending, Marathon Asset Management
Tom Otte, Chief Executive Officer, White Oak Capital Finance 
Jason Van Dussen, Senior Managing Director, Co-Head of Capital Markets, Golub
Networking Break

5:45 pm - 8:00 pm
Joint Reception with TMA's Distressed Investing Conference
Sponsored by Parker, Hudson, Rainer & Dobbs, LLP, Siena Lending Group and White Oak Commercial Finance


*Agenda is subject to change.

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Exhibitor