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Best Practices for Launching & Managing SBIC Funds

March 21, 2019 @ 8:00 am - 5:00 pm

Outlook Is Brightening
For Building Successful SBIC Funds

Best Practices for
Launching & Managing an SBIC

Details

The administration in Washington promised to help small companies, and to go to bat to create new jobs. Working with SBIC funds seems like an obvious great place to start.

Indeed, there are some promising signs. For instance, a bill from Florida Senator Marco Rubio proposes to expand SBIC funding to more states, and rules regarding SBIC passive investments have been relaxed.

On the other hand, there’s also evidence that bureaucratic red tape remains an issue. Licensing of SBIC funds is down 40 percent in the past year from what managers felt was already a slow approval pace.

While experienced fund managers are navigating this challenge relatively well, some newer firms may be hesitating, wondering whether or not to go through the time and expense of the arduous licensing process at all.

And some limited partners may be questioning whether SBIC funds can still meet their time-frames for putting capital to work.

The red tape that SBIC funds face is substantial, and it’s only increased over the past year.

For example, Michael Painter of Plexus Capital said in recent Congressional testimony that the SBIC program lacks digitized, standardized documents accessible via data rooms, slowing SBIC funds down as the rest of the world increasingly goes online.

Still, there are powerful arguments to be made in favor of SBIC funds. The leverage available from the government is an advantage and may become even more so in the event of an economic slowdown.

And you can’t argue with the success of SBIC funds’ job creation impacts — a recent Library of Congress study found that from 1995 to 2014, SBIC-backed small companies created over 3 million jobs and supported another 6.5 million — many in areas underserved by traditional private equity.

Chaired by

Carolyn C. Galiette

President & Chief Investment Officer
Ironwood Capital

Date

Thursday, March, 21

8:00am – 5:00pm

Location

Midtown Manhattan, NY

Sponsors

Register now to join 20+ experts in a discussion of how to seize the ample opportunities for SBIC funds while minimizing the challenges of bureaucracy at The Capital Roundtable’s conference on “Best Practices for Launching & Managing SBIC Funds.” The conference will be held in New York City on Thursday, March 21, 2019.

Key Reasons to Attend

Three Key Reasons Why You Should Join Us

1. Hear concrete examples of winning tactics and unexpected stumbling blocks for getting an SBIC license from managers who’ve gone through the process within the past year.

2. Learn how SBIC funds stand to benefit from recent changes to the federal tax laws and potential changes to the Dodd-Frank Wall Street Reform Act.

3. Hear what Institutional Limited Partners think about SBIC funds.

Key Points Being Covered
  • Key changes at the SBIC program under the new administration
  • What kinds of private equity firms are well-suited to an SBIC license
  • How to streamline SBA approvals and how much time to allot
  • What mistakes are particularly harmful during the approval process
  • The key selling points a new fund wants to become licensed as an SBIC
  • Primary areas of focus in SBA examinations
  • How to set up an SBIC fund as a subsidiary or as a side car of a main fund
  • How the new tax law and other regulatory changes impact SBICs
  • Potential areas of expansion for SBIC funds
  • How SBIC funds are investing in minority and women-run companies, as well as underserved geographic areas
  • The key differences between operating a traditional fund and an SBIC-licensed fund
  • Cash flow needs for servicing SBA Debentures
  • Does an SBIC fund ever outgrow the program?
  • Valuation rules and limits on what SBICs can invest in
Chairperson Info

A founding partner of Ironwood CapitalCarolyn Galiette serves as president and chief investment officer for the firm and chairs its various investment committees. She manages day to day execution of the firm’s investment strategy and process, and its stakeholder reporting and engagement. Prior to co-founding Ironwood Capital in 1991, she was an investment professional with Aetna Inc. Previously, she worked for Paine Webber Inc. in investment banking.

Ms. Galiette now serves on the Board of Governors of the Small Business Investors Alliance and is chair of its Executive Committee. She has testified before Congress on behalf of small business investors. She is a member of the Private Equity Women Investor Network and Women’s Association of Venture Equity. She has also served on various leadership committees for Middlebury College, the Loomis Chaffee School, and the Hotchkiss School and as president of the Avon, Conn. PTO.  She has managed multiple fundraising events.

Ms. Galiette is a graduate of Dartmouth College where she earned a BA Summa Cum Laude, Phi Beta Kappa, in English, with concentrations in Economics and French.

Who We Are

This Capital Roundtable conference in midtown, New York City, is all-business, all-targeted, all-designed to be a completely focused day of practical information and revealing insights about education companies. You’ll gain valuable insights from —

  • Three informative panel discussions
  • Two revealing keynote presentations
  • Real-world perspectives from education company investors
  • Industry outlooks from noted sector experts
  • War stories and lessons learned from experienced hands

Chaired by
  • Carolyn Galiette, President and Chief Investment Officer, Ironwood Capital
Hosted by
  • Burt AlimanskyChairman & CEO, The Capital Roundtable
Speakers
  • Christopher Aroh, Partner, CohnReznick LLP
  • Samuel J. Boyd Jr., CIO & Dir.–Program Development, U. S. Small Business Administration
  • Jonathan Collett, Partner, CohnReznick LLP
  • Rodger Davis, Managing Partner, Northcreek Mezzanine Fund
  • David DiPaolo, Managing Director, Star Mountain Capital LLC
  • Atif Gilani, Founding Partner, Renovus Capital Partners
  • Steven Gord, Partner, Boathouse Capital
  • Thomas Gorman, Partner, Seacoast Capital
  • Susan Haggerty, Director, Zook Dinon PA
  • Nathaniel Kirk, Managing Partner, Everside Capital Partners LLC
  • Olga Loy, Partner, Winston & Strawn LLP
  • Carleton Olmanson, Partner, GMB Mezzanine Capital LP
  • Brett T. Palmer, President, Small Business Investor Alliance
  • Andrew Panzo, General Partner, NewSpring Capital
  • Michael D. Richter, Managing Director, GLC Advisors & Co. LLC
  • Alan Roth, Partner, Winston & Strawn LLP
  • Peter Rothschild, Managing Partner, RF Investment Partners LLC
  • Kevin Sheehan, Managing General Partner, Multiplier Capital LP
  • Daniel Yardley, Managing Director, Patriot Capital LP
7:30am – 8:30am

Networking & Registration & Breakfast

8:30am – 9:00am

Welcoming Remarks & Audience Self-Introductions

9:00am – 9:30am

Conference Chairman’s Introduction —
Carolyn Galiette, Ironwood Capital

9:30am – 10:30am

First Panel —
An Up-To-Date Guide to Getting Your SBIC License —
What the SBA Wants to See — and What It Doesn’t

10:30am – 11:15am

Networking & Coffee

11:15am – 12:00pm

Morning Conversation —
A Divided Government Once More —
What It Means for Accreditation & Post-Secondary Investing

12:00pm – 12:30pm

Keynote

12:30pm – 1:30pm

Networking & Luncheon

1:30pm – 2:30pm

Second Panel —
Fundraising for Your SBIC —
How to Build Your Strategic Hit List

2:30pm – 2:45pm

Networking & Dessert

2:45pm – 3:45pm

Third Panel —
Avoiding SBIC Fund Stumbling Blocks —
Valuation Rules, Regulations, & SBA Guidelines

3:45pm – 4:30pm

Afternoon Conversation —
Getting to Fund II & Beyond —
War Stories about Raising Multiple Funds

4:30pm

Networking & Adjournment

Space at this conference is limited, so register as soon as possible to assure yourself a seat. To avoid disappointment, please contact Kristi Paris today to confirm your attendance at 212-832-7300 ext. 0 or mlayne@capitalroundtable.com.

Please note that Capital Roundtable limits the number of registrants from a single firm to three.

Best Rate – Early Registration

Save $400 off the standard fee of $1,495 when you register by Friday, January 25. Just $1,095.

Incentive Registration

Save $200 of the standard fee! Register by Friday, February 15, and the fee for the conference is $1,295.

Conference Rate

$1,495 increasing to $1,595 day of conference, space permitting.

Group Rate

$995 each, when you register two or more people to attend from the same company.

You can pay by credit card (using the links above or below) or by check. Mail your check and business card to: New York Business Roundtable Inc., 747 Third Avenue, Suite 200, New York, NY 10017.

Can’t attend but want to hear the program? You can buy the audio package along with the handounts.

This event is sponsored by:

Marquee Sponsors:

Contributing Sponsor:

Association Partners:

Data Partners:

Amerigo Education
Arcady Bay Partners
Ashworth College
Axial Networks
Azure Creek Capital
Bain Capital
Bookhead Ed Learning
BrainPOP
Bridges Fund Mgmt.
BSG Team Ventures
Cain Brothers & Co.
Carl Marks Advisors
China Hi-Tech Group
CIBC Bank USA
CIP Capital
College of Health Care Professions
Crestline Investors
Cushman & Wakefield
Drinker Biddle & Reath
Duane Morris
EagleTree Capital
eChalk
Edmentum
EdNexus Advisors
Educfinance
Edufficient
Enova Decisions
Enterprise Ireland
Epic Partners
Erda Capital

Exceed Capital
EY-Parthenon
FF Ventures
Flinn Scientific
Frontline Education
GEMS Education
Gladstone Companies
GLBL ED, S.A. de C.V.
Goldberg Kohn
Guild Education
Halladay Education
Heidrick & Struggles
Insight Venture
Institute of Culinary Education
Intersected Advisors
Investcorp Intl.
KIPP Foundation
Kitamba
Language Stars
Laureate Education
Learn Capital
Learning.com
LearnStart
Lexplore
LLR Partners
Magnolia Capital
Marblegate
McGraw-Hill Education
McKinsey & Company
MHT Partners

Millpond Equity
Morgan Stanley & Co.
National Center for Faculty Development
NCK Capital
Northeastern Univ.
O’Donnell Learn
Parchman Vaughan
Penn Foster
Prairie Capital
ProBility Media Corp.
Quad-C Management
Renovus Capital
Safanad
SJF Ventures
Solamere Capital
Sollers College
Sprout Health Group
Sterling Partners
Stifel
Strada Education Network
Symposium Ventures
Tethys Invest
Tyton Partners
TZP Group
Universal Technical Institute
University Ventures
WorldBridge Partners
VisitDays Corp.
Weld North
Whiteboard Advisors
William Blair

Details

Date:
March 21, 2019
Time:
8:00 am - 5:00 pm

Contact Us



747 Third Avenue | Suite 200 | New York City | 10017
212-832-7300

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