EUROPE & ASIA-PACIFICDISTRESSED DEBT & ALTERNATIVE INVESTMENTS
SEP 28 – 29, 2015 LONDON
www.ddc-financial.com Email us at [email protected]
Overview
This forum offers a unique opportunity to hear from industry leaders from around the globe discussing the current state of NPLs and investment opportunities in their respected regions.
9 24Panel discussions Countries
Some of the companies attending
AUM
Presentations
6.1Trillion
5
BanksInvestorsAdvisoryLawyersOthersSpeakers
40+
Main Sponsor Gold Sponsor Media Partners
Phil Groves, President at DAC Management, China
Ugur Yildirim, Founder at Elements Capital Partners and ALPEN INVEST, Slovenia
Konstantin Karchinov, Investment Director at AnaCap, UK
Thorsten Lederer, Managing Partner at Panteo Global Partners, Luxembourg
Ofer Lieberson, Founder at Tagor Asset Management and Liberate Solutions Group, Romania
Zoltan Csordas, Director of Workout at CIB Bank, Hungary
Nigel Houghton, Executive Director at Loan Market Association, UK
Gabriele Giorgi, Senior Analyst at Algebris Investments, UK
Yoav Kfir, Founder & Managing Director at VAR Group, Israel
Richard Thompson, Global Leader, Portfolio Advisory Group at PWC, UK
Matej Golob, CEO at Converta, Slovenia
George Kintis, CEO at Alcimos, Greece
Harish Kumar, Senior Director at Alvarez & Marsal, UK
Richard Bernau, Director, Deal Advisory at KPMG, UK
Anete Daukste, Manager, Deal Advisory at KPMG, UK
Gijs Klomp, Head of Capital Markets at CBRE, Romania
Alejandro Lucero de Pablo, President at Multigestion Iberia, Spain
Artur Aleksandrowicz, CEO at National Recovery Services, Russia
Carmine Evangelista, CEO at AZ Holding, Italy
Brent Carlson , Director at Alix Partners, Hong Kong
Christian Schuller, CEO at VostokFinance Group, Russia
Konstantinos Falangis, Vice President at BlackRock, UK
Stacey Schacter, President & CEO at Vion Receivable Investments, USA
Andrea Clamer, Head of NPL Division at Banca Ifis, Italy
Ioana Necula, Owner at International Leasing, Romania
Benjamin Bornstein, Partner at Indigo Capital Advisors, USA
Mahmoud Atalla, Managing Director, Co-Head of Global Loans & Special Situations at HSBC, UK
Konrad Kąkolewski, President of the Management Board at GetBack S.A., Poland
Gaudenzio Bonaldo Gregori at KKR Credit, IT
Olek Teonidis, Managing Director at Da Vinci Capital, Russia
Sonya Van De Graaff, Partner at Schulte Roth & Zabel LLP, UK
Maja Žgajnar, Partner at Schonherr, Slovenia
Luis Martin, Senior Advisor at DebtX, Spain
Owen James, Managing Director at PRA Group, UK
Prot Zastawniak, Managing Director at Pragma Inkaso, Poland
Arash Talebinejad, Chief Commercial Officer at Intrum Justitia, Sweden
Daniel Pottorff, National Director at LaSalle Investment, UK
Wu Rui, Head of IBD at China Orient AMC's, China
John Nestel, Head of Restructuring Asia-Pacific at Herbert Smith Freehills, Australia
Oleg Jelezko, Managing Partner at Da Vinci Capital, Russia
Tom McAleese, Managing Director at Alvarez & Marsal, Ireland
Stephen Phillips, Partner at Orrick, Herrington & Sutcliffe LLP, UK
Speakers
AGENDADay 1: September 28
8:00 REGISTRATION & NETWORKING
9:20 PANEL: Bank Restructuring & Deleveraging Strategies
Harish Kumar, Senior Director at Alvarez & Marsal, UK (MODERATOR)
Richard Bernau, Director, Deal Advisory at KPMG, UK
Tom McAleese, Managing Director, Financial Industry Advisory Services at Alvarez & Marsal, Ireland
Zoltan Csordas, Director of Workout at CIB Bank, Hungary
• Restructuring options available for banks
• Main impediments to restructuring
• Deleveraging strategies (Selling vs. Internal Workout)
• Deleveraging via outright sales vs. risk transfer/repackaging
• Capital release before recovery
10:00 PRESENTATION: Future Investment Opportunities In The European
Market
Richard Thompson, Global Leader, Portfolio Advisory Group at PWC, UK
10:25 PANEL: Finding High Yield Opportunities In The European Middle Market
- Asset Backed Event Driven And Special Situations
Nigel Houghton, Executive Director at Loan Market Association, UK (MODERATOR)
Thorsten Lederer, Managing Partner at Panteo Global Partners, Luxembourg
Benjamin Bornstein, Partner at Indigo Capital Advisors, USA
Mahmoud Atalla, Managing Director, Co-Head of Global Loans & Special Situations at HSBC, UK
• Event driven or special situations credit investments in European enterprises facing significant capital stress, backed by
company assets, financial and real assets
• Investing regardless of asset class and capital structure position, main focus on liquidation value of underlying
collateral/assets
• Investing in undervalued and distressed assets, comprising debt instruments with attached physical or financial assets
• Non-core asset or stressed commercial real estate (one-off or portfolio) disposals on institutional investor level or asset rich
companies in insolvency situations
• Comparison of debt investment strategies: new loan originations vs. loan acquisitions (primary vs. secondary markets)
• Sources of capital (Eurozone/EU/Global) and investment geographies (Northern EU, Southern EU, CEE)
11:00 COFFEE & NETWORKING
11:20 PANEL: CRE & Residential Mortgage Debt
Gijs Klomp, Head of Capital Markets at CBRE, Romania
Sankaty Advisors, UK
Konstantinos Falangis, Vice President at BlackRock, UK
Daniel Pottorff, National Director at LaSalle Investment, UK
Where are the best opportunities and why
Pricing, market predictions and trades/logistics
Releasing liquidity from distressed property assets
How to extract additional value from CRE assets in NPL portfolios
Exit liquidity of CRE assets in NPL portfolio, is there market demand for such assets as they are?
12:00 PRESENTATION: High IRR On Big Ticket NPL Portfolios In Poland -
Actual Case Studies And Further Opportunities
Konrad Kąkolewski, President of the Management Board at GetBack, Poland
12:20 PANEL: NPL Portfolios CEE
Konstantin Karchinov, Investment Director at AnaCap, UK
Ofer Lieberson, Founder at Tagor Asset Management and Liberate Solutions Group, Romania
Anete Daukste, Manager, Deal Advisory at KPMG, UK
Ioana Necula, Owner at International Leasing, Romania
• What are the main risks to sellers when off-loading NPL portfolios?
• Benefits/costs of bilateral sales versus open auctions
• Operational considerations of selling/buying NPLs
• Impact of flawed due diligence material
• Impact of real estate valuations on seller pricing
• Importance of real estate expertise in maximizing values
13:00 LUNCH
14:00 PANEL: Problems & Opportunities For Investors In Southern Europe,
CEE, CIS & Asia-Pacific
Matej Golob, CEO at Converta, Slovenia
George Kintis, CEO at Alcimos, Greece
Oleg Jelezko, Managing Partner at Da Vinci Capital, Russia
Ugur Yildirim, Founder at Elements Capital Partners and ALPEN INVEST, Slovenia
• What are the risks for buyers?
• Greek banks likely to be sold to large European players
• Where are the best opportunities and why?
• Trends in CSEE
• Challenges for Banks due to the current market situation
• Greece - the NPL trades will arrive post recap, probably Q2 2016
• Current situation in Slovenia
• Challenges in purchasing distressed assets in Slovenia
• Sales of NPL from banks in Slovenia
• Sales of distressed assets in insolvency procedures, companies restructurings in Slovenia
14:40 PANEL: Distressed Debt Asia-Pacific
Phil Groves, President at DAC Management, China (MODERATOR)
Wu Rui, Head of IBD at China Orient AMC's, China
Brent Carlson, Director at AlixPartners, Hong Kong
John Nestel, Head of Restructuring Asia-Pacific at Herbert Smith Freehills, Australia
• China is top global target for NPLs right now
• Continued and growing glut of NPLs
• Sourcing and structuring for offshore investors
• NPLs in context of China’s rule of law
• Importance of local infrastructure and experience for servicing
• Burgeoning market for structured NPL products
15:20 PRESENTATION: Israel - EU Distressed Debt & NPL
Yoav Kfir, Founder & Managing Director at VAR Group, Israel
15:40 COFFEE & NETWORKING
16:00 PANEL: Debt Servicing, Purchasing & Collection Models
Arash Talebinejad, Chief Investment Officer, Intrum Justitia, Sweden (MODERATOR)
Artur Aleksandrowicz, CEO at National Recovery Services, Russia
Christian Schuller, CEO at Vostok Finance Group, Russia
Stacey Schacter, President & CEO at Vion Receivable Investments, USA
Ofer Lieberson, Founder at Tagor Asset Management and Liberate Solutions Group, Romania
Owen James, Managing Director - Acqusitions & Services at PRA Group, UK & Ireland
• Pricing Secured debt purchasing
• Real estate underline assets-maximizing values
• Challenges in finding secured NPL servicer and REO asset management in Romania and CEE
• Legal obstacles and strategy
• What to do if the asset is not impaired to the appropriate level
• Valuations - a solution or part of the problem?
• Collection company or asset management/servicer?
• What are the challenges and opportunities for investors in different regions of Europe and perhaps comparable with US and
Russia?
• What are the biggest obstacles to NPL Sales?
• The banking system itself. Is it better provisioned? Is it in a better point in time to sell assets of any kind, etc.
• Are banks in a position to sell? Are leverage providers ready to support transactions?, etc.
• The asset management angle. Is there sufficient capacity, of good quality, installed to manage NPLs of all types and RE
(residential, industrial and commercial)?
• How does a recession affect collection curves. Any yardsticks as to impact of depth and length?
• Has anyone ever seen prop portfolios trend upwards after a recession?
• Does consumer lending overall shrink during a crisis or actually grow (does a crisis affect more secured and corporate
lending)?
• What would be the ideal regulator of the industry/ what is the worst type of regulator?
• Legal environment for buying and collecting debts in Russia and Ukraine, to how extend it is secure?
17:00 END OF THE DAY 1
8:00 REGISTRATION & NETWORKING
9:20 PANEL: Legal Restructuring & Distressed Acquisitions
Stephen Phillips, Partner at ORRICK, UK (MODERATOR)
Sonya Van De Graaff, Partner at Schulte Roth & Zabel LLP, UK
Stacey Schacter, President & CEO at Vion Receivable Investments, USA
Maja Žgajnar, Partner at Schonherr, Slovenia
Olek Teonidis, Managing Director at Da Vinci Capital, Russia
• Pre-sale aspects of NPL portfolios
• How to best structure the credit bidding process
• Pitfalls for buyers and sellers
• Strategies for credit bidding
• NPL market environment in Russia
• Distressed debt acquisition aspects
• Current challenges and opportunities for market leaders
• Possible motivations of sellers that borrowers should be mindful of
• Pricing issues
9:50 PRESENTATION: Large Gap In A Competitive Market - Corporate NPL
In Poland
Prot Zastawniak, Managing Director at Pragma Inkaso, Poland
10:10 PRESENTATION: China - NPL Portfolio Investment Cycle
Phil Groves, President at DAC Management, China
10:30 EXCLUSIVE: COFFEE & ONE 2 ONE MEETINGS
11:30 PANEL: Italy & Spain: Current Overview Of The NPL Market
Luis Martin, Senior Advisor at DebtX, Spain
Gabriele Giorgi, Senior Analyst at Algebris Investments, UK
Andrea Clamer, Head of NPL Division at Banca IFIS, Italy
Gaudenzio Bonaldo Gregori at KKR Credit, Italy
Alejandro Lucero de Pablo, President at Multigestion Iberia, Spain
Carmine Evangelista, CEO at AZ Holding, Italy
• Present situation and future trends
• New participants (investors and servicers) vs. historic ones
• Drivers for growth between Unsecured NPL’s and or Secured NPL’s
• Potential keys for success
• Present situation of Italian credit servicers: a fragmented market (as is)
• Key highlights for future success (to be)
• Winner business model for the future: customer or asset base?
12:30 LUNCH
13:30 EXCLUSIVE: ONE 2 ONE MEETINGS
15:30 END OF THE CONFERENCE
AGENDA
Day 2: September 29