Private Credit In A Post-Covid World
The private credit industry has ballooned in the past decade, but fundraising has plateaued, and the damage caused to businesses due to the lockdowns designed to stem the spread of Covid-19 has led to some commentators questioning the wisdom of allocating to private credit strategies in the current environment.
Private Credit In A Post-Covid World is a series of 3 webinars designed to educate institutional and professional investors about some of the opportunities and risks involved in allocating to private debt managers in three of the constituent asset sub-classes in the industry.
Webinar 1: Direct Lending
Tuesday, November 17, 2020 - 2.30pm UK / 3.30PM CET / 9.30am Eastern
What has been the impact of the Covid-19 pandemic on lending to SME’s and what are the opportunities and risks that investors need to be aware of when allocating to managers active in this area?
SMEs represent a large and growing part of developed countries’ economies, yet many are still radically under-banked. As we emerge from the pandemic, how will private lending represent the recovery of this part of the economy?
Patrick Ghali, Co-Founder and Managing Partner, Sussex Partners
Patrick Ghali is a Co-Founder and Managing Partner of Sussex Partners, a hedge fund advisory boutique. Patrick provides advice to institutional investors on hedge fund and hedge fund manager due diligence, selection and portfolio construction.
Prior to co-founding Sussex Partners, Mr. Ghali worked for Bear Stearns, where he was part of a team that established a global private banking operation in London, where he advised hedge funds and funds of hedge funds on institutional and pension fund mandates. Prior to Bear Stearns, Mr. Ghali founded Strategic Solutions International, through which he launched and sold a number of businesses in Europe and the United States.
Mr. Ghali is a member of the Board of Directors of Vedra Partners Ltd, a UK based, FCA regulated multi-family office, and previously was a member of the Board of Directors of Alpinum Investment Management AG, a Swiss based, FINMA regulated alternative asset manager. In addition, Mr. Ghali is a Founding Mentor of Henkel˟, a division of German conglomerate Henkel, tasked with accelerating the group’s entrepreneurial transformation, and a member of the Human Rights Watch Zurich committee, a leading international non-governmental organisation for advocacy on human rights. A frequent speaker at industry conferences and contributor to the financial press, Mr. Ghali s frequently cited in publications such as the Financial Times, Financial News and the Wall Street Journal. He was named as one of Financial News’ ‘40 under 40 Rising Stars in Hedge Funds 2015’.
Craig Reeves, Founder, Prestige Funds
Craig established Prestige in 2007 and has since raised over USD 2 billion. He has over 25 years' experience as a professional investment manager, trader and investor of alternative investments, hedge funds, capital markets and real estate, and regularly contributes to financial journals such as the AIMA journal and the Financial Times. He is regulated by the FCA (UK), MFSA (Malta), CSSF (Luxembourg) and FINMA (Switzerland).
Tedmond Wong, Principal, The Firmament Group
Tedmond Y. Wong is a Principal at The Firmament Group based in the London office, where he is involved in all aspects of the firm’s investment activities. Mr. Wong is responsible for transaction execution, the firm’s international expansion efforts, and recruitment and training of junior investment professionals. Mr. Wong currently serves on the Board of Directors for Pearl & Dean, Logistyx Technologies, and Transferre Technologies. Mr. Wong joined Firmament at its inception in 2013 and has developed principal investment experience in over $200 million of debt and minority equity transactions in the lower middle market in both the U.S. & U.K.
Mr. Wong began his career in private equity as an analyst at Wasserstein & Co., where he evaluated middle market buyout opportunities in the domestic consumer products and media sectors. Mr. Wong has also spent time in the capital markets group of the law firm Herbert Smith LLP in London. In addition, Mr. Wong brings operational and fundraising experience from leadership and advisory roles at small businesses in the talent agency and manufacturing industries.
Mr. Wong holds an MBA, with a concentration in finance, from The Wharton School where he served as Co-Chair of the Wharton Restructuring & Distressed Investing Conference. Mr. Wong also holds a J.D. from Penn Law School, where he served as an editor of the Penn Law Review. Mr. Wong received his B.A. cum laude in economics from Harvard University.
Established in 2007, Prestige consists of several companies under common ownership based in the UK and various international financial centres, specialising in alternative investment strategies with a focus on direct lending. The team consists of a diverse group of investment professionals who, including the board of directors, board of advisors, affiliates and retained consultants have served on numerous boards of international financial institutions, fund groups, asset management and wealth management groups. Combined the team has many decades of experience in various sectors of finance including commercial banking and lending, investment banking, stock broking, hedge fund management, private equity, financial markets trading and extensive experience in the management and operation of various alternative investments.
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