MasterClassTM

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Third Annual SBICs MasterClass™--
The New Realities...Operating Your

SBIC in Today's Environment

A MasterClass by the New York Capital Roundtable

MasterClass -- Wednesday, November 17, 2004   8 am - 5 pm


Pre-conference Workshop (optional)-- Tuesday, November 16   2 pm - 5pm
“Forming, Licensing and Operating a Debenture SBIC”


New York Athletic Club
New York City


Earn CLE & CPE Credits


Chaired by Michael B. Staebler, the Dean of SBIC Law
& Partner, Pepper Hamilton LLP


Designed to Meet the Needs of all SBIC Investment Professionals; Managers Considering Forming Debenture SBICs; Investors; Investment Bankers;
CEO’s; and Professional Advisors

Faculty | Agenda | Schedule | Registration | Location | Audiotapes | CLE Credit

This timely MasterClass led by Mike Staebler, who has helped more than 120 SBICs obtain their licenses, brings managers up-to-date on today's realities at SBA. The distinguished faculty will describe funding alternatives available to SBICs using Participating Securities.

Prospective managers of Debenture SBICs will gain insight into the prospects, process and timing for securing a new SBIC license. You’ll hear a timely, nuts-and-bolts review of some of the key regulatory issues involved in buyouts and later stage investments, investing with "foreign" sponsors, and a detailed discussion of basic operating issues.

When You Leave This MasterClass, You'll Know:

  • Where The SBIC Program is Heading
  • The Operating Rules of the Road
  • How to Structure Buyouts
  • Permissible Fees Your Management Company May Charge
  • Do’s and Dont's of “Foreign” Investing
  • In’s and Out’s of Mixing Debentures with Participating Securities
  • Avoiding Regulatory “Gotcha’s”
  • Future Prospects for Equity Investing
  • Sources of Leverage for Existing Participating Securities SBIC
  • State of the Art LLC Investing Techniques
  • Successful Strategies to Manage a Troubled SBIC
  • Whether the SBIC program is right for you

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Faculty

Chaired By

  • Michael B. Staebler, the Dean of SBIC Law & Partner, Pepper Hamilton LLP


Hosted By

  • Burt Alimansky, Managing Director, Alimansky Capital Group Inc. and Chairman, New York Capital Roundtable

Speakers

  • Joan C. Arnold, Partner, Pepper Hamilton LLP
  • Julia D. Corelli, Partner, Pepper Hamilton LLP
  • Robert A. Fish, Managing Partner, PricewaterhouseCoopers LLP
  • Kirk B. Griswold, Argosy Investment Partners LP
  • Fara Shimek Karam, Associate, Pepper Hamilton LLP
  • Lee Mercer, President, National Association of SBICs
  • Lawrence Mondschein, Managing Director, CRA Funding LLC
  • Walter Peterson, former senior SBA official
  • Arthur A. Spivey, Chief of the Investment Division’s Licensing Unit, SBA
  • Jeffrey Stern, Managing Director, Forum Capital Securities LLC
  • Judith S. Werner, Controller, MidMark Capital

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Agenda

In the summer of 2003, SBA announced that potential losses incurred by Participating Securities SBICs were of such magnitude that the Government needed to re-price the basis on which SBA made such equity-like financing available to SBICs, effective with the fiscal year beginning October 1, 2004.

SBA has followed up with proposals that the SBIC industry and leading institutional investors consider unworkable. October 1, 2004 has come and gone, and no new plan is in sight, but the "old program" went out with a bang. SBA committed the full $4 billion of participating securities that Congress had authorized to 29 new licensees and approximately 75 previously licensed funds. So more than 150 equity-oriented SBICs have significant funds to invest. However, many older SBICs have commitments that expire in a year or two. And the new Licensees may only draw on their commitments prior to September 30, 2008.

At the same time, SBA leaders have indicated that debt oriented SBICs (mezzanine funds and other lenders) are healthy, and that SBA would be delighted to license new funds that use SBA financing in the form of Debentures.

At this MasterClass you’ll hear both the big picture about what’s going on at SBA, as well as the state-of-the-art, nitty-gritty details of operating successfully.

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Schedule

November 16
01:30 - 02:00
02:00 - 02:10
02:10 - 02:30

02:30 - 03:15
03:15 - 03:30
03:30 - 04:15

04:15 - 04:45

November 17
08:00 – 09:00
09:00 – 09:10
09:10 – 09:20
09:20 – 10:00
10:00 – 10:30

10:30 – 11:00

11:00 – 11:45
11:45 – 12:30
12:30 – 01:30
01:45 – 02:45
02:45 – 03:00

03:00 – 03:30
03:30 – 04:15

04:15 – 05:00
05:00 – 05:15
05:15

  

Pre-conference Workshops
Registration & Networking
Greetings & Introductions

Strategic Decision to Become a Debenture SBIC & SBIC Basics

SBA Licensing Criteria & Process

Coffee & Networking Break

Fundraising

Structuring Your SBIC
MasterClass
Registration, Continental Breakfast, & Networking
Host’s Welcoming Remarks & Audience Introductions
Chairman’s Overview
SBIC Basics & Leverage Availability -- The New Realities
Using Participating Securities & Debentures in the Same SBIC
Coffee & Networking Break

Future of the SBICs Program; Legislative Initiatives
Valuing Your Portfolio

Luncheon & Networking
Structuring Investments
Investing in LLC

Coffee & Networking Break
Selected Regulatory Compliance Issues

Best Practices in Operating Your SBIC
Strategy for Success & Concluding Questions
Adjournment

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Registration

    Purchase Audiotapes >>

The program date for this program has passed.

Have a special question? Please contact Katie Safrey at 212/832-7333 ext. 103 or by email to: ksafrey@capitalroundatble.com.

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Location

New York Athletic Club
180 Central Park South
New York City
Phone number: 212/767-7068

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Audiotapes

Can't attend but want to hear the program? You can buy the audiotapes along with the handouts for $495. Purchase the audiotapes online now.

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CLE Credit

CLE  & CPE Credits are available for this program

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