The conference
Due to the success of the 2012 event, we’ve moved to a newer, larger venue for 2013! The premier event for the CLO Sector featuring extensive coverage on outlook for issuance in 2013, structural and legal considerations, relative value from a research analyst and investor perspective, the role of CLOs in commercial real estate finance, leveraged loan performance and analysis, ratings methodology for CLOs, and more. Over 800 attended the inaugural event in 2012, and we are expecting an even larger turnout for 2013 given the sector’s strong performance and boost in issuance volumes. The conference will also serve as a forum for meaningful dialogue to address concerns regarding this dynamic segment of the market. IMN’s Investors’ Conference on CLOs and Leveraged Loans gathered together the best minds in the industry to provide you with thought-leadership on the key challenges and opportunities facing the CLO market.

Speakers to Date Include:
  • Christopher Allen, Senior Managing Director, APIDOS CAPITAL MANAGEMENT, LLC
  • Charles Arduini, Senior Analyst, ARES MANAGEMENT
  • Jeffrey Barnes, Director - TRS, BANK OF TOKYO MITSUBISHI / UNION BANK
  • Marc Boatwright, Senior Vice President and Portfolio Manager, ING INVESTMENT MANAGEMENT
  • Meredith Coffey, Executive Vice President of Research & Analysis, LSTA
  • Neil Desai, Portfolio Manager, PFIZER, INC.
  • Peter Gleysteen, Chief Executive Officer, CIFC
  • Frederick Haddad, Portfolio Manager, GOLDTREE ASSET MANAGEMENT, L.P.
  • Leland Hart, MD & Portfolio Manager, BLACKROCK - Timothy Kroeber, Head of Credit Research, MEAG-NEW YORK
  • Bret Leas, Portfolio Manager, APOLLO MANAGEMENT - Michael Loehrke, Co-Head and Portfolio Manager, GOLUB CAPITAL MANAGEMENT, LLC
  • Thomas Majewski, EAGLE POINT CREDIT MANAGEMENT
  • Joseph A. Moroney, Portfolio Manager, APOLLO MANAGEMENT
  • Steven Oh CFA, Managing Director, Head of Global Credit and Fixed Income, PINEBRIDGE INVESTMENTS, LOS ANGELES
  • Justin Plouffe, Principal, CARLYLE - John Popp, Managing Director, CREDIT SUISSE
  • Steve Vaccaro, Chief Investment Officer, CIFC - Amir Vardi, Vice President, CREDIT SUISSE ASSET MANAGEMENT
  • Rehan Virani, Managing Principal, HALCYON LOAN MANAGEMENT LLC
  • David Young, Senior Portfolio Manager, OCTAGON CREDIT INVESTORS, LLC
  • Robert Zable, Managing Director, GSO/BLACKSTONE DEBT FUNDS MANAGEMENT LLC
CLO Managers Who Attended the 2012 Event Include:
  • 40/86 Advisors, Inc.
  • Alcentra - AllianceBernstein
  • Apidos Capital - American Capital Strategies
  • American Money Management - Anchorage Capital Group
  • Apollo Management
  • Ares Management
  • AXA Investment Management
  • Babson Capital
  • Blackrock Investment
  • Canaras
  • Canyon Capital Advisors LLC
  • Carlyle
  • Cerberus Capital Management
  • CIFC
  • Citi Capital Advisors
  • Credit Suisse Alternative Investments
  • Crescent Capital
  • DFG Advisers
  • Eaton Vance Management
  • Feingold O'Keeffe Capital
  • Fidelity Investments
  • Fortress Investment Group
  • Garrison Investment Group
  • GE Capital
  • Goldentree Asset Management, L.P.
  • Goldman Sachs Asset Management
  • Golub Capital Management, LLC
  • Greywolf Capital Management
  • GSO/Blackstone
  • Guggenheim Investment Management
  • Halcyon Asset Management
  • Highland Capital Management
  • Hillmark Capital Management
  • ING Investment Management Co. LLC
  • Invesco
  • Ivy Hill Asset Management
  • JMP Securities LLC
  • J.P. Morgan Asset Management
  • Katonah Debt Advisors LLC
  • Madison Capital Funding LLC
  • MJX Asset Management
  • Newstar Financial
  • New York Life Investments
  • Oaktree Capital Management
  • Octagon Credit Investors, LLC
  • Omega Advisors Inc
  • Onex Credit Partners, LLC
  • PineBridge Investments
  • Prudential Financial
  • Regiment Capital Advisors
  • Sankaty Advisors
  • Silvermine Capital Management
  • Silverpoint Capital
  • Symphony Asset Management
  • Tetragon Financial
  • THL Credit, Inc.
  • Ursamine Credit Advisors LLC/MPSCP
  • Zais Group LLC
Who should attend
  • CLO Managers
  • CLO Structurers and Bankers
  • Legal and Financial Advisors
  • Investors
  • CLO Rating Analysts
  • Financial Technology Providers
  • Financial Service Providers with an interest in the Leveraged Loan & CLO Market
Wednesday, April 10th, 2013
8:00 AM
Breakfast and Registration

3:46 PM
Pre- Conference Workshop: CLOs & Leveraged Loans 101
This workshop will provide attendees with a strong foundation by explaining the CLO structure, the definition of a leveraged loan, and other key fundamental concepts in the CLO sector.

  • Debra Rappoport-Bigman, Partner, PWC (Moderator)
  • Jeremy Phillips, Director, PRICEWATERHOUSECOOPERS
  • Michael Abbate, Partner, KPMG
  • Lynn Chin, Partner, PRICEWATERHOUSECOOPERS
3:46 PM
Hosts' Welcome and Opening Remarks

  • Jade Friedensohn, Senior Vice President, Conference Producer, IMN
3:46 PM
Overview of the CLO Market: Outlook for Issuance and Trends Going Forward

  • Steven T. Kolyer, Partner, CLIFFORD CHANCE US LLP (Moderator)
  • Justin Plouffe, Managing Director & Portfolio Manager, CARLYLE GROUP
  • Peter Gleysteen, Chief Executive Officer, CIFC ASSET MANAGEMENT
  • John Clements, Managing Director, CITIGROUP
  • Jason Powers, Managing Director, WELLS FARGO
  • Amit Roy, Head of CLO Origination, GOLDMAN SACHS
  • Algis Remeza, Senior Vice President, Structured Credit Primary Ratings, MOODY'S INVESTORS SERVICE
  • Sajid Zaidi, Managing Director, MORGAN STANLEY
3:46 PM
Managing a CLO Day-to-Day: A Look at Credit Selection: Manager Roundtable

  • Kevin Sunday, Managing Director, WELLS FARGO (Moderator)
  • Leland Hart, Managing Director & Portfolio Manager, BLACKROCK
  • John Popp, Managing Director, CREDIT SUISSE ASSET MANAGEMENT
  • Frederick Haddad, Partner & Senior Portfolio Manager, GOLDENTREE ASSET MANAGEMENT
  • Robert Zable, Managing Director, GSO/BLACKSTONE DEBT FUNDS MANAGEMENT
  • Gretchen Bergstresser, Senior Portfolio Manager, CVC CREDIT PARTNERS
  • Bret Leas, Co-Head of Structured Credit, APOLLO CAPITAL MANAGEMENT
3:46 PM
Networking Refreshment Break in Exhibit Area

Commence Concurrent Tracks “A” and “B”

12:05 PM Track A
Track A Legal and Structural Considerations: How to Effectively Analyze a CLO
- Improvements made from pre-2007 vintages; the 2013 CLO structure
- Fundamental vs. market evaluation
- Static vs. stochastic approaches
- Loan prices
- Manager behavior
- Key statistics and reporting

  • John Timperio, Partner, DECHERT LLP (Moderator)
  • Marc Boatwright, Chief Executive Officer/ Founder, COVENANT CREDIT PARTNERS
  • Michael Loehrke, Co-Head and Portfolio Manager, GOLUB CAPITAL
  • Joe Moroney, Head of Performing Credit, APOLLO GLOBAL MANAGEMENT
  • Jian Hu, Managing Director, MOODY'S INVESTORS SERVICE
  • Paul Burke, Managing Director | Agency & Trust - NA | Sales Head, CITIBANK, N.A.
  • Chris D’Auria, Managing Director, DEUTSCHE BANK
12:05 PM Track B
Track B: Assessing Underlying Leveraged Loan Market Performance and Credit Outlook

  • Kevin Kendra, Managing Director, FITCH RATINGS (Moderator)
  • Steve Vaccaro, Co-President, Chief Investment Officer, CIFC ASSET MANAGEMENT
  • Donald Young, Senior Portfolio Manager, OCTAGON CREDIT INVESTORS
  • Steven Oh, Global Head of Credit and Fixed Income, PINEBRIDGE INVESTMENTS
  • Peter Acciavatti, Managing Director, JPMORGAN
  • Chris Padgett, Senior Vice President, MOODY'S INVESTORS SERVICE
  • Erik Falk, Member & Co-Head of Leveraged Credit, KKR ASSET MANAGEMENT
3:46 PM
Delegate Luncheon

Commence Concurrent Tracks “A” and “B”
Track A: CLO Investment Strategies Track B: Regulatory Update, Researcher and Ratings Anlayst Perspectives

2:00 PM Track A
Track A: Finding Relative Value in CLO Investments: The AAA Investor Roundtable

  • Matt Natcharian, Managing Director, Head of Structured Credit Investment, BABSON CAPITAL MANAGEMENT LLC (Moderator)
  • Timothy Kroeber, Head of Credit Research, MEAG- NEW YORK
  • Neil Desai, Portfolio Manager, PFIZER INC.
  • Brian Juliano, Principal, PRUDENTIAL INVESTMENT MANAGEMENT
  • Peter Sallerson, Structured Finance, MITSUBISHI UFJ SECURITIES (USA), INC.
2:00 PM Track B
Track B: Regulatory and Accounting Challenges and Hurdles

  • Craig Stein, Partner, SCHULTE ROTH & ZABEL (Moderator)
  • Meredith Coffey, Executive Vice President of Research & Analysis, LSTA
  • William Gray, Head of US, ASHURST LLP
  • Ed Faccio, Partner, PWC
  • Phoebe Moreo, Partner, DELOITTE & TOUCHE LLP
  • Jocelyn Lynch, Managing Director, BNY MELLON
  • John Hermle, Partner, KPMG LLP
3:46 PM Track A
Track A: Assessing Opportunity in the Mezzanine CLO Tranche
- Profiling the investor
- Finding value in mezzanine and private debt markets
- Assessing private debt managers: considerations
- Where are the opportunities? How to find the sweet spot in the CLO structure

  • Vivek Mathew, Managing Director, JP MORGAN SECURITIES LLC (Moderator)
  • Amir Vardi, Director, Structured Products Portfolio Manager, CREDIT SUISSE ASSET MANAGEMENT
  • Niraj Patel, Managing Director, GENWORTH
  • Aaron Meyer, Principal, SILVERMINE CAPITAL MANAGEMENT
  • Anton Lokhov, Vice President, GOLDMAN SACHS
  • Tom Marx, CLO Portfolio Manager, AIG
3:46 PM Track B
Track B: Research Analyst Perspectives: Finding Relative Value in the CLO Market

  • Jon Wishnia, Partner, LOWENSTEIN SANDLER LLP (Moderator)
  • Maggie Wang, Vice President, J P MORGAN SECURITIES LLC
  • David Cao, Managing Director, DFG INVESTMENT ADVISERS
  • David Preston, Managing Director, WELLS FARGO
  • Ryan Asato, Director, BANK OF AMERICA MERRILL LYNCH
  • Vishwanath Tirupattur, Managing Director, MORGAN STANLEY
3:46 PM
Networking Refreshment Break in Exhibit Area

4:10 PM Track A
Track A: Exploring the Role of Equity in the CLO Sector: Equity Investor Roundtable

  • Rehan Virani, Managing Principal, HALCYON LOAN MANAGEMENT LLC (Moderator)
  • Thomas Majewski, Managing Partner & Founder, EAGLE POINT CREDIT MANAGEMENT
  • Nishil Mehta, Principal, PROSPECT CAPITAL
  • Joe Marconi, Portfolio Manager, GREYWOLF CAPITAL
  • Serhan Secmen, Managing Director/Portfolio Manager, NAPIER PARK GLOBAL
4:10 PM Track B
Track B: Global Emerging Markets CLO: Creating Alpha in the CLO Space

- EM/Global Credit Investment Value Proposition: Origination and Investing
-EM/Global CLOs: Where Science of Structure meets Art of Emerging Markets credit Investing
-Vanilla vs. EM CLOs: So close yet so far
-Alpha Creation across the Capital Structures: Value Investing from AAA to Equity


  • Vicki Marmorstein, Partner- Finance, LATHAM & WATKINS (Moderator)
  • Sajid Zaidi, Managing Director, MORGAN STANLEY
  • Eric Schneider, Portfolio Manager, OMEGA ADVISORS INC
  • Euan Marshall, Head, Mobilisation Coordination Unit, IFC
  • Angela Kay, Portfolio Manager & Director of Product Management, ICE CANYON LLC
  • Laya Khadjavi, COO - Head of Strategy and Business Development, ICE CANYON LLC
5:00 PM Track A
Track A: Outlook for the European CLO and Leveraged Loan Market
- Will we see a resurgence in European CLO issuance that parallels the US? If so, what is the timeline for a return to robust activity?
- What are the fundamental differences from the US, and the major obstacles still facing the European CLO market?
- Regulatory concerns
- Assessing European investor appetite for euro-denominated CLO paper

  • John Convery, Managing Director, GREENS LEDGE (Moderator)
  • James Cuby, Credit Investments, INVESTEC
  • Andrew Burke, Senior Portfolio Manager, CAIRN CAPITAL
  • Andrew Bellis, Managing Director & Partner, 3I DEBT MANAGEMENT
  • Steven Paget, Vice President & Portfolio Manager, PGIM FIXED INCOME
5:00 PM Track B
Track B: Middle Market CLOs

  • Derek Miller, Senior Director, FITCH RATINGS (Moderator)
  • Marc Steinberg, Managing Director, GUGGENHEIM SECURITIES
  • Michael Mullins, Partner, WINSTON & STRAWN LLP
  • Kelli O'Connell, Director, NXT CAPITAL
  • Manish Kapoor, , SEC
3:46 PM
Day One of the 2nd Annual Investor’s Conference on CLOs and Leveraged Loans Concludes and Networking Cocktail Reception Commences Hosted by:


Thursday, April 11th, 2013
3:46 PM
Delegate Breakfast and Registration

Commence Concurrent Tracks “A” and “B”
Track A: Liquidity, Manager Selection and CLO Analysis, M&A Track B: Commercial Real Estate, Infrastructure Finance, and Total Return Swaps

9:00 AM Track A
Track A: Buying and Trading CLOs: Assessing Liquidity in the Secondary CLO Market

  • Adnan Zuberi, Managing Director Bank Solutions & Credit Structuring, BNP PARIBAS (Moderator)
  • Charles Arduini, Senior Analyst, ARES MANAGEMENT
  • Taryn Leonard, Managing Director, BABSON CAPITAL MANAGEMENT
  • Catherine Ng, Lead Evaluator, STANDARD & POOR'S SECURITIES EVALUATIONS, INC.
  • Allen Fu, Global Head of CLO/CDO Trading, RBC CAPITAL MARKETS
9:00 AM Track B
Track B: The Role of CLOs in Financing Commercial Real Estate
- Update on the resurgence of CRE CDOs/CLOs
- CRE market update
- New funding trends and structures emerging

  • Robert Villani, Partner, CLIFFORD CHANCE US LLP (Moderator)
  • Tim Groves, Director, CITI
  • Gene Kilgore, Executive Vice President of Structured Securitization, ARBOR REALTY TRUST, INC.
  • David Baranick, Partner, PWC
  • Jeffrey Rotblat, Partner, CADWALADER, WICKERSHAM & TAFT LLP
10:00 AM Track A
Track A: Hiring and Evaluating a CLO Manager

  • Aashh Parekh, Portfolio Manager – ABS, TIAA-CREF (Moderator)
  • Eli Cohen, Principal, Head of Alternative Investments, GENTRUST WEALTH MANAGEMENT, LLC
  • Andrew Jacobs, Director, MOODY'S ANALYTICS
  • Yvonne Stevens, Senior Managing Director and Co-Head, Leveraged Debt Group, COLUMBIA MANAGEMENT
  • Edwin Wilches, Portfolio Manager, PRUDENTIAL FIXED INCOME
  • Steven Park, Managing Director, DEUTSCHE BANK
10:00 AM Track B
Track B: Launching a CLO Platform: Assessing Strategy and Challenges
- Attracting equity and debt investors
- Getting traction with arranging banks and loan agents
- Infrastructure requirements

  • David Powar, Managing Director, GREENSLEDGE CAPITAL MARKETS LLC (Moderator)
  • Tom Kramer, Senior Managing Director, KRAMER VAN KIRK CREDIT STRATEGIES
  • David Schmuck, Senior Portfolio Manager, BMO GLOBAL ASSET MANAGEMENT
  • Tim Houghton, Managing Director, CORTLAND CAPITAL
  • Dan Spinner, Portfolio Manager, EAGLE POINT CREDIT MANAGEMENT
  • Ian Rasmussen, Senior Director, FITCH RATINGS
  • Levoyd Robinson, Managing Principal, CHICAGO FUNDAMENTAL INVESTMENT PARTNERS
11:00 AM
Refreshment Break

3:46 PM Track A
Track A: Tools for Conducting Investor Analysis and Pricing/Valuation Considerations

  • Luis Amador, Managing Director, MOODY'S ANALYTICS (Moderator)
  • Jason Oster, Senior Pricing Analyst, S&P CAPITAL IQ
  • Mark Betteridge, Global Product Manager, BLOOMBERG
  • Marc Boatwright, Chief Executive Officer/ Founder, COVENANT CREDIT PARTNERS
3:46 PM Track B
Track B: Innovative CLO Structures for Infrastructure Finance
- Can CLO Technology be applied to facilitate infrastructure finance? If so, how would the master trust be structured?
- Comparing infrastructure debt to leveraged loans as an underlying asset class: similarities, differences
- CLO technology as a means of de-leveraging the balance sheet to facilitate infrastructure lending for economic growth and development

  • Peter Nagykery, Managing Partner, PRIME II MANAGEMENT (Moderator)
  • Jay Grushkin, Partner, MILBANK, TWEED, HADLEY & MCCLOY LLP
  • Edward Gustely, Managing Director, PENIDA CAPITAL ADVISORS LTD
12:10 PM Track A
Track A: Outlook for M&A Activity in the CLO Sector

  • Ross Van der Linden, Managing Director, STORMHARBOUR (Moderator)
  • Christopher Allen, Senior Managing Director, CVC CREDIT PARTNERS
  • Paul Travers, Portfolio Manager, ONEX CREDIT PARTNERS
  • Michael Herzig, Managing Director, THL CREDIT
12:10 PM Track B
Track B: The Resurgence of the Total Return Swap as an Investment Alternative in the Loan Market
- TRS as an alternative means of investor exposure to the loan market vs. direct CLO investment
- Relative value of TRS in terms of flexibility vs. direct CLO investing
- The various risk return profiles and tenures that can be achieved via a TRS

  • Neil Weidner, Partner, CADWALADER, WICKERSHAM & TAFT LLP (Moderator)
  • Jeffrey Barnes, Director - TRS, BANK OF TOKYO MITSUBISHI / UNION BANK
  • Will Lloyd, Vice President, BANK OF AMERICA MERRILL LYNCH
  • Michael O'Brien, Partner, WINSTON & STRAWN LLP
  • Nicholas Bozzuto, Head of Complex Prime Finance - Americas, DEUTSCHE BANK
1:00 PM
The 2nd Annual Investor’s Conference on CLOs and Leveraged Loans Concludes

Event Contacts
Senior Vice President, Conference Producer
Jade Friedensohn
(212) 901-0560
jfriedensohn@imn.org
Associate Investor/Issuer Relations
Caitlin Fitzpatrick
(212) 224-3530
caitlin.fitzpatrick@imn.org
Head of Sales - Structured Finance
Chris Keeping
(212) 901-0533
ckeeping@imn.org
VP, Sponsorship Management
Ashley Hofmann
(212) 901-0562
ahofmann@imn.org
Hotels
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Phone: 646-826-8600
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Phone: 877-513-6305 or 800-266-9432
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