SFNet's Asset-Based Capital Conference 2025

2:00 pm - 3:00 pm
Networking Break
Sponsored by TD Bank

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 certain 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 guesses on the future development of these strategies.

Moderator
Julia Frost-Davies, Partner, Greenberg Traurig LLP
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
Sponsored by Holland & Knight LLP

7:45 am - 1:30 pm
Registration Open
Sponsored by Cahill Gordon & Reindel LLP

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
Networking Break
Sponsored by TD Bank

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 to 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 Economic and Policy Update
Sponsored by Goldberg Kohn
Lunch will be available starting at 11:45 am, the panel will begin at 12:30 pm.

We are entering 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 2025. In addition, the new administration will have its own perspective on major policies impacting banks and the broader financial markets. With this change in administration there will be significant attention on anti-trust policy. Our panelists, 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, Head of U.S. Economics, Truist

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 this growth, recent structure and fundraising innovations, and the overall complexities surrounding private credit as an asset class as it seeks to continue its momentum.

Moderator
Holly Etlin, Partner, Alix Partners
Panelists
Ted Koenig, President & CEO, Monroe Capital LLC
Curtis Lueker, Managing Director and Head of Direct Lending, Marathon Asset Management
Tom Otte, Chief Executive Officer, White Oak Commercial Finance 
Jason Van Dussen, Senior Managing Director, Co-Head of Capital Markets, Golub Capital
Networking Break
Don't spend your time being uncomfortable at the crowded lobby bar. New this year, we are setting up dedicated networking space with small bites, drinks and an outdoor patio area so you can enjoy an environment conducive to your individual business meetings. Schedule meetings in advance using the SFNet Connect app or make them in real time at the conference. 

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


*Agenda is subject to change.

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