MasterClassTM

Capital Roundtable

Sponsor:

Wildman Harrold

Past Attendees:


AEA Investors

American Capital

Ares Management

Benesch Friedlander

Broadway Partners

CapitalSource Inc.

CapitalSouth Partners

Charlesbank Capital

Churchill Capital Inc.

CIT Corporate Finance

Credit Suisse Group

D. E. Shaw & Co.

Debevoise & Plimpton

First Atlantic Capital

Key Principal Partners

KPMG LLP

MidOcean Partners

Morgan Joseph & Co. Inc.

Silver Point Capital

VenGrowth Private Equity

Media Partners:

 

The Deal

Capital IQ

Buyouts

VC Experts

Merger Market

MasterClass™ on  

 Mezz Finance for Today's PE Deals--

   How to Address the New Face of Junior Debt


Featuring 20 Expert Speakers


Attendance Is Limited --
Register Now

Click Here to Register >>   Purchase Audio Package >>    

 

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FULL-DAY MASTERCLASS
Tuesday, September 23, 2008
8:00 am - 4:30 pm
New York City


SPECIAL HALF-DAY PRE-MASTERCLASS WORKSHOP (Optional)

Intercreditor Agreements & Bankruptcy Issues--

Creating the Best Structures


Monday, September 22, 2008
2:00 pm - 5:00 pm
New York City

Designed to Meet the Needs of GPs & LPs of Private Equity Firms & Independent Sponsors, As Well As Executives of their Portfolio Companies, and the Senior Lenders, Bankers, Lawyers, & Other Advisors Who Support Them

Faculty | Schedule | Registration | Location | Sponsorship | Audio Package

Have you noticed that many of today’s deals are starting to seem like pot-holed streets?

With the cost of debt rising faster than the fall in valuations, and with the contraction in senior lending leaving big gaps between debt and equity commitments, a whole new wave of junior lenders are finding plenty of space to step right in.

They see the opportunity to partner with you to get your deals done.

But be cautious – they’re coming with a whole new attitude, and they’re holding much firmer on rates and terms.

GPs looking to tap into this capital pool need to hear from those already active in the market how the junior lending scene has changed during the credit crisis and what kinds of terms and rates to expect when they go shopping for junior credit.

To get started on the right foot in this new environment with an up-to-date overview of the junior lending market, attend The Capital Roundtable’s MasterClass on Mezzanine Finance on Sept. 23 in New York – consistently one of our most popular events because of its immense practicality.

Now is the perfect time to --

  • explore the options out there among new entrants and old standbys
  • get a flavor of today’s terms, rates, and risk premiums
  • learn how mezz deals are really working today
  • and see how other firms are using mezzanine finance in their own deals

Because of all the competition from newer lenders and the extreme variability in credit analysis and valuation, there’s a lot of room to maneuver and find terms that work for your buyout, add-on, or refi.

We’ll help you figure out what you can say to mezz lenders who want deals with higher rates, longer call periods, higher-quality assets, and more equity, and how far you can really push given overall earnings uncertainty, the recession, and plain old supply/demand.

To chair this MasterClass, we’ve recruited Tim Mayhew, managing director at Fenway Partners, where he tackles consumer-sector deal sourcing, financing, and portfolio ops. Tim has invited 20 active sponsors, senior lenders, mezzanine lenders, and other GPs to come and share their experiences from the current market.

You’ll also hear from Ron Kahn, managing director and head of private placements at Chicago-based Lincoln International. He is the widely-acknowledged thought leader in the mezzanine finance industry with contacts all over the fundraising space, so you won’t want to miss Ron’s insightful remarks at this crossroads in the credit markets.

And if you already recognize what a great opportunity is, then don’t waste a moment –- sign up now because we’re offering a $400 early-bird discount!

There is simply no other event out there where you can hear the perspectives of 20 active players in the mezzanine funding market all in one place. Their stories will show you in great detail what is working and what isn’t -- so that you have a sense for all the alternatives when engineering the best capital structure for your deal.

When you come to the MasterClass, you’ll find out --

  • How to sort through all the various lenders out there and see how mezzanine deals typically work
  • When using mezzanine finance is most advantageous and how it can benefit your capital structure
  • If folks are stretching on terms to get deals done or waiting it out
  • What kinds of deals are actually happening with junior debt right now and what gets the best rates
  • What kinds of equity levels, rates, and call terms are being demanded by lenders and where there is negotiating flexibility
  • How much competition is really out there and what the alternatives are
  • What the drawbacks are to refinancing after-the-fact all equity deals
  • Who is entering and exiting mezzanine lending and why
  • What sponsors want to see in mezz deals and how involved LPs or senior lenders should be in negotiations
  • What the biggest hurtles and common mistakes are in mezz deals
  • When it’s better to use newer, more price competitive funds rather than lenders you know and what this could mean for working with them when you want to do future add-ons, divestitures or refinances
  • How hedge funds and investment banks are changing the fundraising environment and what is going on with second-lien lenders and one-stop shops
  • How to incorporate market uncertainties and possible price depreciation when negotiating terms
  • And much, much more…

Even if you haven’t enlisted any junior debt for deals lately, it’s a good time to get acquainted with all the options because the mess in the credit market doesn’t appear to be clearing up any time soon.  

Also, be sure to check out our afternoon Workshop entitled “Intercreditor Agreements & Bankruptcy Issues – Creating the Best Structures” on Sept. 22, a practical legal discussion of how to create positive relationships between your lenders in the event of bankruptcy or other contingencies.

 

This is an event for those who want to get deals done despite the recessionary conditions.  Come and see what works!

Those who would most benefit from this MasterClass include --

  • GPs who want to find the best financing options for planned or pressing deals and who need a quick and comprehensive glimpse of what the junior debt market looks like right now
  • Junior lending agents looking to connect with middle-market PE firms and stay competitive by seeing what is working for other funders
  • Investment bankers interested in developing better strategies for syndication and for bringing mezzanine funds to the table in more kinds of deals
  • Lawyers and restructuring specialists unfamiliar with the new terms and conditions being used in junior credit agreements
  • Credit analysts and appraisal experts who want to see what kinds deals and valuations PE firms are willing to chase with their own money during this phase of the credit crisis and recession
  • Sponsors and LPs who want to understand how funding terms affect their positions 
  • Executives of companies currently using or considering using mezzanine financing for growth capital

For more information, please feel free to contact Heather Sote at 212/832-7333 ext. 111 or hsote@capitalroundtable.com.

This program is being produced by The Capital Roundtable, America’s leading conference organization focusing on “need-to-know” information for professionals in the middle-market private equity community.  For more information about CR’s 25 annual MasterClasses and other events and programs, please visit www.capitalroundtable.com.

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Faculty

 Chaired By

  • Timothy P. Mayhew, Managing Director, Fenway Partners Inc.

Hosted By

  • Burt Alimansky, Managing Partner, Alimansky & Bethell Group, and Chairman, The Capital Roundtable

Speakers

  • Justin D. Abelow, Managing Director, Deutsche Bank Securities Inc.
  • George A. Bitar, Managing Director, Merrill Lynch Global Private Equity
  • J. Bradley Boericke, Partner, Pepper Hamilton LLP
  • Gerald Chaney, Principal, ICG America Inc.
  • Everett R. Cook, Managing Director, Pouschine Cook Capital Management LLC
  • David E. Fife, Managing Director, Rosemont Capital LLC
  • David J. Fischer, Partner, Wildman Harrold Allen & Dixon LLP (workshop)
  • Daniel B. Glickman, Managing Director, GE Antares Capital Corp.
  • David J. Grossman, Managing Director, Kohlberg Capital Corporation
  • Mark E. Gudis, Principal, SAC Capital Management LLC
  • Todd Hearle, Managing Director, Guggenheim Partners LLC
  • Leo A. Helmers, Managing Director, Carlyle Group LLC
  • Ronald A. Kahn, Managing Director, Lincoln International LLC
  • Mark Lanigan, Managing Director, Black Canyon Capital LLC
  • Michael J. Revord, Managing Partner, Aldine Capital Fund LP
  • Alan B. Roth, Partner, Wildman Harrold Allen & Dixon LLP
  • Thomas Spoto, Principal, AlpInvest Partners Inc.
  • Stephen Stafford, Partner, Ernst & Young LLP
  • Justin B. Wender, President, Castle Harlan Inc.
  • William G. Winterer, Managing Partner, Parthenon Capital LLC

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Schedule

MasterClass
07:30 - 08:30

08:30 - 09:00
09:00 - 09:45
09:45 - 10:30
10:30 - 11:00
11:00 - 12:15

12:15 - 01:15
01:15 - 02:15

02:15 - 03:15


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

04:30


Workshop

01:30 - 02:00

02:00 - 05:00
   

  

Tuesday, September 23, 2008

Registration, Networking, & Continental Breakfast

Welcoming Remarks & Audience Introductions

Introductory Keynote -- Bird's Eye Overview
Chairman’s Keynote -- In the Trenches Overview
Coffee & Networking Break
First Panel -- “Today's Complex Variety of Mezzanine Sources - What Five Top Mezz Lenders Have to Say ”

Luncheon & Networking
Second Panel -- “What Managers of PE Funds Want - Feedback from Four Prominent Sponsors ”

Third Panel -- “Four Pros Report How They Help Make Deals Work ” (This panel features a lawyer, an investment banker, a senior lender, & a transactions services specialist.)

Coffee & Networking Break
Fourth Panel -- “Fresh Faces on the Scene - What Four New Mezz Lenders Have to Say"  

Adjournment


Pre-MasterClass Workshop Monday, September 22, 2008

Registration & Networking

"Intercreditor Agreements & Bankruptcy Issues - Creating the Best Structures"

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Registration

  • Early Bird Registration Fee -- and save $400 off the regular fee! Register by Friday, August 22, and the fee for the MasterClass is $1295 -- or $1595 for both the MasterClass and Workshop.
  • Premiere Registration Fee -- and save $200 off the regular fee! Register by Friday, September 05, and the fee for the MasterClass is $1495 -- or $1795 for both the MasterClass and Workshop.
  • After that, the regular registration fee is $1695 for the MasterClass -- or $1995 for both the MasterClass and Workshop.
  • At the door, if space is available, the fee is $1795 for the MasterClass -- or $2095 for both the MasterClass and Workshop.
  • Special group rates -- The Capital Roundtable offers a special rate for 3 or more people from your firm.  For more info, please contact Samantha Feldman at sfeldman@capitalroundtable.com or 212/832-7333 ext 112.

Click Here to Register >>    Purchase Audio Package >>

Visit Audio Library >>


You can pay by credit card (using the links above) or by check. Mail your check and business card to: New York Business Roundtable Inc., 12 East 44 Street, Penthouse, New York, NY 10017.

If the program is oversubscribed, we will notify you immediately and not charge your credit card. (If you need to cancel, please do so by Tuesday, September 16, at 5:00pm, and we will credit you for a future meeting.)


From time to time, for reasons beyond Capital Roundtable's control, program schedules and speakers become subject to change. We make every effort to announce substantive changes by email to registrants at least 48 hours in advance.

Have a special question? Please contact Samantha Feldman at 212/832-7333 ext. 112 or sfeldman@capitalroundtable.com.

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Location

The University Club

1 W 54th St

New York, NY 10019

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Audio Package

Can't attend but want to hear the program? You can buy the audio package along with the handouts. Purchase the audio package online now.

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Sponsorship

The Capital Roundtable offers excellent sponsorship opportunities to reach the middle-market private-equity community. For more details, contact Arlene West at 212/832-0800 or by email at awest@capitalroundtable.com.

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