At IQPC’s 5th Global Forum on Investing in Distressed Debt, the leading funds and investors in distressed debt will discuss the state of the market as well as the cutting-edge strategies for successfully taking advantage of current conditions.
Is now the time the buy? Will there be deepening discounts? What will the market look like one year from now? Attendees of IQPC’s 5th Global Forum on Investing in Distressed Debt will benefit from the wealth of information shared over two full days of educational sessions and networking.
For more info visit www.distresseddebtforum.com
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5th Global Forum on Investing in Distressed Debt
1. Register
Presents by June 26th
to SAVE up
to $800
5TH GLOBAL FORUM ON
INVESTING IN
DISTRESSED DEBT
TM
Cutting Edge Strategies for Restructurings, Bankruptcies and Turnarounds
September 22-23, 2009 • Millennium Broadway Hotel • New York City, NY
Attend and learn:
• Leading distressed debt funds’ and investors’ strategies for success
• Opportunities in corporate distressed bonds as well as residential and commercial real estate Earn CLE
• State of the economy and impact on distressed debt market and CPE
• Update on traditional financing and alternative financing options Credits
New
• Update/lessons learned from the auto industry this year -
Real Estate
Hear From Leading Experts Including: Break-Out
Sessions
Atalaya Capital Management JCR Capital
Babson Capital Management, LLC Kellner DiLeo & Co.
BlackRock, Inc. Marathon Asset Management
Blackstone GSO Capital Partners New York City Comptroller/NYCERS
Ceres Real Estate Partners, LLC Prophet Equity
CoBe Capital, LLC Roca Management
DDJ Capital Management, LLC Rossrock, LLC
Fidelity National Financial TIAA-CREF Investment Management
Fortress Investment Group, LLC Versa Capital Management, Inc.
Hartford Investment Management West Wheelock Capital
Hildene Capital Management
Sponsors:
Media Partners:
1-800-882-8684 • www.distresseddebtforum.com
2. 5TH GLOBAL FORUM ON
INVESTING IN
DISTRESSED DEBT
TM
Dear Colleague, Who should attend
IQPC’s 5th Global
Timing is everything, particularly in
to maximizing your ROI. At IQPC’s
distressed debt investing. Knowing
when to invest is crucial Forum on Investing in
5th Global Forum on Investing
leading funds and investors in distr
essed debt will discuss the state of
in Distressed Debt, the Distressed Debt:
cutting-edge strategies for successfu the market as well as the
lly taking advantage of current cond • Distressed Debt Funds
itions.
Is now the time the buy? Will there • Hedge Funds
be deepening discounts? What will
one year from now? Attendees of the market look like • Private Equity Funds
IQPC’s 5th Global Forum on Inves
benefit from the wealth of informati ting in Distressed Debt will
on shared over two full days of educ • Limited Partner Investors (Pensions,
networking. ational sessions and
Endowments, Foundations, HNW/Family
Offices, etc.)
Through panel discussions, formal
presentations and interactive audi
attendees will gain valuable insights ence participation, • Legal, Tax & Accounting Firms
into:
• The State
of the Market: Where We Are and • Third-Party Marketers
• Governme
Where We’re Heading
nt Programs Update
• Overseas
• Rating Agencies
Investing
• Turnarou Lenders/Alternative Finance Providers
nd Strategies for the Whole Busin •
• Opportun
ess
ities in Distressed Structured Products • Consultants, Turnaround Firms and
• Legal & Tax
Aspects of Workouts, Defaults & Bank Portfolio Advisors
• Alter nativ
ruptcy
e Financing Options - Hedge Fund
• Residentia
s’ and Private Equity’s Role • Data Providers and Trading Firms
l and Commercial Real Estate Distr
• Lessons from
essed Debt
Recent Filings in the Automobile Indu • Anyone wishing to gain an edge in this
• Up and Com
stry
ing Asset Classes highly competitive market!
Don’t miss this unequalled opp
ortunity; reserve your space now
Forum on Investing in Distressed Debt for IQPC’s 5th Global
!
Best Regards,
Finance IQ –
A Global Leader in
Financial Conferences
Lisa Ringlen Among the
Senior Conference Director world’s most
Finance IQ, a division of IQPC cutting edge
www.distresseddebtforum.com financial conference organizers,
Finance IQ provides strategic events
across the US, Europe, Asia and the
Middle East every year, educating
almost 5,000 high-level executives
5th Global Forum on Investing in Distressed Debt annually. Our comprehensive events
provide an unbiased, specialist
Advisory Board: forum where you can discuss the
Chair: Members: issues most important to you and
Peter Antoszyk Thomas Kiriakos Thomas Salerno Stephen Lerner network with industry leaders.
Partner Partner Partner & Co-Chair International Partner and Chair of the Bankruptcy Finance IQ is a division of the
PROSKAUER ROSE LLP MAYER BROWN Insolvency Practice, SQUIRE, and Restructuring Group, SQUIRE, International Quality and Productivity
SANDERS & DEMPSEY LLP SANDERS & DEMPSEY LLP Center (www.iqpc.com), a global
conference company with offices
across six continents.
2 Register Today: Call 1-800-882-8684 or visit www.distresseddebtforum.com
3. Main Conference Day One
TUESDAY, SEPTEMBER 22, 2009
8:00 Registration & Coffee • Discussion on past performance vs. views of the future
• Hedge funds and private equity’s role
8:45 Opening Remarks from IQPC and Chairperson • Acquisition strategies by private equity funds to acquire special
opportunities in a distressed market through debt acquisition
Forum Co-Chair: • Raising capital: How are you finding investors? Which types of
Peter Antoszyk investors are you targeting? Are you using third-party marketers?
Partner • Restructuring strategies: Workout war stories
PROSKAUER ROSE LLP • Overseas investing: New developments in the European market;
Are there still deals in Asia?
9:00 The State of the Market: Current Overview and • Sponsor debt buy backs: New stimulus plan tax break may make
Future Outlook this a more attractive option, but is it worth it?
The economy, where we are and where we’re heading
• Current outlook for distressed debt: Will there be more large- Moderator:
scale deals in the coming months? Thomas S. Kiriakos
• Examining the pricing trajectory for the near-term: Where will we Partner
be in the next six months? MAYER BROWN LLP
• How much worse can it get?
Panelists:
• Consolidation of financial institutions and funds; impact on the
Marti P. Murray
market Managing Director & Portfolio Manager
• Update on residential and commercial property distressed debt
BABSON CAPITAL MANAGEMENT LLC
opportunities
• Corporate bonds forecast: Which sectors are ripe for distress? David J. Breazzano
President, Chief Investment Officer
Moderator: DDJ CAPITAL MANAGEMENT, LLC
Peter Antoszyk
Partner Kate Kutasi
PROSKAUER ROSE LLP Principal/Portfolio Manager, KDC Distressed & High Income
Securities
Panelists: KELLNER DILEO & CO.
Ivan Zinn
Founding Partner & Chief Investment Officer John Buck
ATALAYA CAPITAL MANAGEMENT Vice President
VERSA CAPITAL MANAGEMENT, INC.
Curtis Arledge
Co-Head Of US Fixed Income 12:30 Networking Luncheon
BLACKROCK INC.
Jason New 1:30 Distressed Debt Investing: Recent Developments
Senior Managing Director Impact of workouts, defaults & bankruptcy on distressed debt
BLACKSTONE GSO CAPITAL PARTNERS funds
• Workouts from the fund perspective
10:00 Government Programs Update • Bankruptcy law update
• Cram-ups/cram-downs: What works and what doesn't?
Current administration’s initiatives including TARP, PPIP, TALF and
• 363 Sales: Recent trends and structures
their impact on distressed debt
• PPIP / Legacy Loan Program, Legacy Securities Program
Presenter:
• Good bank/bad bank outlook
Steven Ellis
• PPIP impact on CMBS market
Partner
• FDIC
PROSKAUER ROSE LLP
• TARP - asset and portfolio acquisition opportunities
• Government’s involvement in the bankruptcy process: What are
2:30 Operational Turnaround: A Case Study
the longer term impacts of such heavy government involvement • Going beyond the debt structure
in what used to be dealt with by the courts? • What’s the upside and when is it worth it?
• The role of government and government-related entities and
• Driving working capital improvement
claims in restructurings • Cash gap analysis
Panelists to be announced – check Presenters:
www.distresseddebtforum.com for updates. Jeff Jones
Chief Executive Officer
11:00 Morning Networking Break JC JONES & ASSOCIATES, LLC
11:30 Fund Sponsors’ Strategy Roundtable Terry Newcomb
• Status of you current deals? Partner
• Which new markets are you considering? JC JONES & ASSOCIATES, LLC
• What are your investment criteria?
• Leveraged loans: Good returns so far this year for the largest 3:30 Afternoon Networking Break
names; will it continue?
3 Sponsors:
4. Main Conference Day One
Continued
CONCURRENT SESSIONS BEGIN – Please choose Track A or B
Track A: CORPORATE Track B: REAL ESTATE
4:00 Outlook for and Opportunities in Distressed Commercial Real Estate Distressed Debt
Structured Products • Pricing, supply of product or lack thereof, trends in the market
• Outlook for distressed CDOs, CLOs, ABS • Lessons from recent retail filings
• Implications of CLO debt on the CLO and the industry: Are there • Will large scale commercial RE defaults result in large commercial RE
thresholds and who’s making the decisions? distress or are most deals being "worked out" through extensions, low
• Secondary market: Trading structured products rates etc?
• Securities: Pricing, any deals on horizon to securitize distressed debt
Panelists: • Assets (REO): Valuing, exit (sell, auction, rent)
Brett Jefferson • The rush to single loan and whole loan portfolio market: Is it
President
overcrowded with inexperience?
HILDENE CAPITAL MANAGEMENT
Panelists:
Manish Kapoor
Brian Newman
Managing Principal
Managing Principal,
WEST WHEELOCK CAPITAL
CERES REAL ESTATE PARTNERS, LLC
Joel Holsinger
William P. Bowman
Managing Director
Senior Vice President, Investment Management
FORTRESS INVESTMENT GROUP LLC
HARTFORD INVESTMENT MANAGEMENT
James H. Ross,
Managing Member
ROSSROCK LLC
5:00 DIP Financing: Recent Trends and Structures Residential Real Estate Distressed Debt
• Current pricing, fees and interest rates • From individual homes to MBS and the effect of the PPIP program, etc.
• With the increasing number of workouts and insolvencies, will we see • Investing in RE single family distressed mortgages: What are the pitfalls?
more DIP loans? • Residential Loans: What is trading (pricing, servicing, exit strategies)?
• Roll ups of old loans with the new lending
Moderator:
• Understanding what is necessary to obtain priming liens
Jay Rollins
Presenter: Principal
Brian Trust JCR CAPITAL
Partner
Panelists:
MAYER BROWN LLP
Rudy Orman
Vice President
MARATHON ASSET MANAGEMENT
Ricardo Koenigsberger
Managing Partner
ROCA MANAGEMENT
6:00 Networking Cocktail Hour
7:00 Day One Concludes
4 Register Today: Call 1-800-882-8684 or visit www.distresseddebtforum.com
5. Main Conference Day Two
WEDNESDAY, SEPTEMBER 23, 2009
8:30 Opening Remarks Joe Farricielli
Senior Vice President
8:45 Deal Structuring: Legal & Tax Issues in Distressed Debt FIDELITY NATIONAL FINANCIAL
Investing Ross Gatlin
• Examining the legal aspects of workouts, restructurings, defaults & Chief Executive Officer & Managing Partner
bankruptcy PROPHET EQUITY
• Mark to market rules and other accounting issues: Impact on future
investing 12:15 Lessons from the Chrysler and General Motors Chapter
• Tax strategies 11 Cases
• Intercreditor agreement update & avoiding intercreditor litigation • Section 363 Sale of “good” assets -- legal or just expeditious?
• Have the Courts re-written the priority scheme of the Bankruptcy Code?
Panelists: • The need for speed -- is it real or imagined?
Thomas Salerno • Role of the US Government
Partner & Co-Chair International Insolvency Practice • Unintended consequences
SQUIRE, SANDERS & DEMPSEY LLP • Who is next?
Elizabeth McGinley Presenter:
Partner Stephen Lerner
BRACEWELL & GIULIANI LLP Partner and Chair of the Bankruptcy and Restructuring Group
SQUIRE, SANDERS & DEMPSEY LLP
9:45 Institutional Investors’ Roundtable
Pension plan sponsors, sovereign wealth funds, endowments & 1:15 Networking Luncheon
foundations, HNWs and family offices: Who is investing in distressed debt?
What are the returns? Are you increasing allocations to this market? 2:15 Finance Providers’ Roundtable
• Alternative financing options: New innovative strategies
Panelists: • Who are the finance providers now?
Eric Edidin • Is there any traditional financing available?
Managing Partner • Lender liability/re-characterization/equitable subordination: Lots of smoke,
ARCHER CAPITAL MANAGEMENT
any fires?
Sheryl Schwartz • Liquidity without CLO's: Who will fill the gap? The next wave
Managing Director, Alternative Investments • Mezzanine financing: What are Mezz lenders doing when they don't have
TIAA-CREF the capital to "take out" the senior debt in a borrower maturity default?
• Reconsidering the intercreditor agreement: Lessons from the trenches
Joseph J. Haslip
Assistant Comptroller for Pensions Moderator:
NEW YORK CITY COMPTROLLER/NYCERS Stephen Boyko
Partner
10:45 Morning Networking Break PROSKAUER ROSE LLP
Panelists:
11:15 Acquiring Controlling Stakes In Distressed Companies Jay Rollins
• Turnaround strategies for the whole business, not just the debt Principal
• Managing the ‘control’ part: Dealing with stakeholders, appointing JCR CAPITAL
managers, defining new strategy
Joel Holsinger
• Acquiring a company through a 363 transaction
Managing Director
Moderator: FORTRESS INVESTMENT GROUP LLC
William I. Kohn Peter J. Ulmer
Attorney at Law Senior Director
BENESCH, FRIEDLANDER, COPLAN & ARONOFF LLP WELLS FARGO RETAIL FINANCE, INC.
Panelists:
Ken McMillen 3:15 IQPC’s 5th Global Forum on Investing in Distressed Debt
Managing Director Main Conference Concludes
COBE CAPITAL LLC Followed by Post-Conference Workshop
EARN CLE CREDITS: IQPC will seek CLE accreditation in those EARN CPE CREDITS: Penton Learning Systems d.b.a International Quality and
states requested by registrants (post conference) which have Productivity Center is registered with the National Association of State Boards
continuing education requirements. This is subject to the rules, of Accountancy (NASBA), as a sponsor of continuing professional education on
regulations and restrictions dictated by each individual state the National Registry of CPE Sponsors. State boards of accountancy have final authority
organization. Application for accreditation of this course or on the acceptance of individual courses for CPE credit. Complaints regarding registered
program in all CLE approved states is currently pending. For sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue
Financial Aid Policy information and to request CLE credits, North, Suite 700, Nashville, TN 37219-2417. Website: www.nasba.org
please indicate so when calling to register: 1-800-882-8684, This program stands as BASIC as there are no prerequisites or advanced preparation
or on the online registration form. requirements to attend our conferences. “Group Live” delivery method.
5 Sponsors:
6. Post Conference Workshop
WEDNESDAY, SEPTEMBER 23, 2009
3:30 pm – 5:30 pm Registration at 3:15 pm
Distressed Assets and Joint Venture Equity in the New Era
Joint Venture Equity Overview • Bankruptcy issues: The basics that you must know
• Sponsor equity • Loan defaults: What are the options?
• Joint venture equity • Note sales: Understanding the process and the opportunities
• Equity investments analysis: Deep dive into IRR’s, waterfalls, and profit multiples • Foreclosures: Things you must know
• Comparing mezzanine financing and equity financing • REO: How banks view it and how to profit from it
• Opportunistic funds vs. standalone joint venture transactions • Negotiating workouts with banks
Distressed Assets 101 Your Workshop Leader:
•Distressed assets overview Jay Rollins, Principal, JCR CAPITAL
About our Sponsors
Chair Sponsor: unparalleled in the turnaround industry. The firm has a wide reach geographically and
Proskauer Rose is one of the diverse industry experience. In recent years, JC Jones has won two national
nation's leading law firms. Founded in 1875 and headquartered in Turnaround-of-the-Year awards, a Transaction-of-the-Year award, and an Ethics
award. Website: www.jcjones.com
New York City, the firm also has offices in Boston, Los Angeles,
Washington, Paris, Boca Raton, Newark, and New Orleans. We
Squire, Sanders & Dempsey L.L.P. One of the five most global US-
have over 700 attorneys who provide a broad spectrum of legal based law firms, has more than 850 lawyers in 30 offices and 14
services to major corporations, financial institutions and other countries around the world. With one of the strongest integrated global platforms
clients worldwide. Our Distressed Debt Group is a dedicated team and a longstanding one-firm philosophy, Squire Sanders provides sophisticated
of multidisciplinary attorneys that focus on representing funds in seamless legal counsel worldwide. Website: www.ssd.com
distressed situations throughout the world. Website:
www.proskauer.com Benesch is a business law firm with multiple offices in
Cleveland, Columbus, Wilmington, Philadelphia and Shanghai.
Sponsor: Our Business Reorganization Practice Group represents a diverse range of corporations
Mayer Brown: The lawyers in Mayer Brown’s in workouts and as debtors-in-possession, as well as creditor interests, committees
Restructuring, Bankruptcy and Insolvency practice have and lenders, and has extensive experience in all major professional capacities of
broad international experience representing creditors and investors in every aspect of public, corporate and large private entity chapter 11 practice, creditor compositions
a troubled situation. We represent a wide array of institutional clients, including many and other methods of restructuring debt. The Business Reorganization Practice Group
Fortune 500 companies, in M&A activity in distressed situations and in structuring is devoted to matters concerning bankruptcy and restructuring and has a growing
out-of-court workouts and restructurings, including DIP and exit financings . Mayer team of attorneys whose practice is exclusively dedicated to matters concerning
Brown is a leading global law firm with 1,800 lawyers in 21 key business centers bankruptcy and enforcement of creditors’ rights. Website: www.beneschlaw.com
across the Americas, Asia and Europe. Website: www.mayerbrown.com
Bracewell & Giuliani LLP is an international law firm with more than
The JC Jones & Associates Business Turnaround Practice provides 450 lawyers in Texas, New York, Washington, D.C., Connecticut, Dubai,
operational and financial turnaround, crisis management and Kazakhstan and London. We serve major financial institutions, leading private
restructuring, bankruptcy, liquidation and trustee services. The practice regularly drives investment funds, Fortune 500 companies, governmental entities and individuals
both top and bottom line business performance, delivering real EBITDA improvement. concentrated in the energy and financial services sectors worldwide.
The firm achieves significant improvements in cash flow and working capital by Bracewell provides guidance on business law, finance, litigation, government relations
identifying and resolving core operational issues that cause distress - people, process, and regulatory policy. As a full services firm, Bracewell has considerable bench
and technology – as well as issues related to capital structure. All JC Jones strength in all requisite practice areas including government relations, strategic
Performance Improvement and Turnaround professionals are senior level executives communications, tax, trial, labor and employment law, intellectual property, real
with broad operational backgrounds across all business cycles and experience that is estate, government contracting and school and public law. Website:
www.bracewellgiuliani.com
Sponsorship and Exhibition Opportunities
Sponsorships and exhibits are excellent opportunities for your company to showcase its products and services to high-level, targeted decision-makers
attending the 5th Global Forum on Investing in Distressed Debt. IQPC and Finance IQ help companies like yours achieve important sales,
marketing and branding objectives by setting aside a limited number of event sponsorships and exhibit spaces – all of which are tailored to assist
your organization in creating a platform to maximize its exposure at the event.
For more information on sponsoring or exhibiting at the 5th Global Forum on Investing in Distressed Debt, please contact Mario Matulich at (212)
885-2719 or sponsorship@iqpc.com.
6 Register Today: Call 1-800-882-8684 or visit www.distresseddebtforum.com