Day #1: Tuesday, October 25, 2022 – Virtual
ESG Outlook and Impact on Valuation and Accounting Issues
- Jamie Spaman, Managing Director, Stout
- Elizabeth Kettler, Director, Stout
- Chris Haglar, Managing Director, Climate Change and Sustainability Services, Ernst & Young LLP
- Sheffield Goodrich, Managing Director – ESG, Independence Point Advisors
Description:
This panel will feature the thoughts of various industry experts as we explore hot topics relevant to private funds, including:
- ESG
- Overview of proposed SEC rules
- Industry maturity
- What firms should do now
- Accounting & Reporting Updates
- Hot topics
- Trends
- Best practices
- Thoughts on valuation impacts and potential challenges going forward
- Update of SOFR transition and impact to values
NASBA Delivery Method: Group Live
Course level: Basic
Field of Study: Specialized Knowledge – Technical: ESG and Valuation Services
Program Prerequisites: None
Structured Finance Outlook
- Gunes Kulaligil, Managing Director, Stout
- Vesta Marks, Portfolio Manager at Semper Capital
- Jeremy Kim, Securitized Products Specialist at END Labs
- Grace Fu, Managing Director - Fund Finance at ING Capital, LLC
Description:
Weighing in at $14 trillion outstanding balance, securitized products is a big sector (vs. ~$10 trillion outstanding for Corporate Bonds) with far reaching impact on borrowers for homes, cars, tuition, rental properties, solar panels, everyday purchases (e.g.) and many other loans that get securitized. Insights into this sector can help explain borrower behavior, individual and corporations alike, and provide a good starting point for formulating an outlook for 2023.
2022 was a turbulent year marked by rising interest rates, high inflation, recalibration of loss expectations and, of course mark downs on long duration and certain credit assets. With only a few months until 2022 is in our rearview mirror, we will take stock of year-to-date issuance volume and primary/secondary spreads and discuss trends in collateral performance. Analyze the current market climate and evolution of structures to accommodate shifts in investor psyche. Other topics include home prices, student loans, blockchain and cryptocurrency.
NASBA Delivery Method: Group Live
Course level: Overview
Field of Study: Finance
Program Prerequisites: None
Day #2: Wednesday, October 26, 2022 – In-Person
DISTRESS, VOLATILITY AND LITIGATION: NAVIGATING UNPREDICTABLE TIMES
- Joel Cohen, Managing Director and NY Office Leader, Stout
- Jackie Grodin, Former Assistant Attorney General for the New York State Office of the Attorney General in the Investor Protection Bureau
- Erik Weinick, Otterbourg P.C., Member Attorney, Bankruptcy and Litigation Practices
- John Scott, Senior Director, Associate GC, Capital One Financial Corporation
Description:
While the world has gone through a monumental change, the private fund industry continued to grow and blossom. In Q2, Q3 and part of Q4, we have witnessed an erasure of almost all gains from the past four years, increasing interest rates and unprecedented volatility. This unsurprisingly has led to distress, litigation, and the exposure of fraud. How have these various external and macroeconomic changes impacted regulation, regulatory inquiries, and commercial litigation?
This panel will explore the latest trends in distress, how private funds are handling this, and increasing interest rates and developing litigation from several perspectives—that of the regulator, the private fund, and the service providers that service the private funds industry. This panel will also take a deep dive into the following:
- How the macroeconomic challenges and distress have been dealt with by Private Equity and Hedge Funds, regulators, and courts.
- Trends of litigation and important judiciary updates that impact private funds.
- Thoughts on potential impacts going forward
This panel discussion is designed for CLE learning. Stout is an accredited CLE provider in the states of California and Illinois. All other states should be considered pending until approved and not guaranteed.
