Fundraising Update

The IPA’s New & Emerging Sponsor Workshop Series launches with an informative overview of fundraising by product type, including registered funds, such as non-listed REITs, non-listed BDCs, interval funds, and tender offer funds. A summary of private offerings, including DSTs, opportunity zones and others, is also provided.

Raising Capital – The Challenges and Opportunities

Raising capital, often the most underestimated challenge, may be the hardest part of launching a new fund. This session provided insight from several distribution executives representing a variety of products, including both registered and private offerings.

Moderator
Jeff Taylor, CFA, Managing Director,
Chief Operating Officer, Black Creek Group

Mark Goldberg
Chief Executive Officer,
Griffin Capital Securities, LLC

Tracy Wills-Zapata
Executive Vice President Head of Alternatives Sales,
PIMCO

Bill Stout
Head of Alternative Investments Business Development,
Nuveen

David Sher
Co-CEO,
Greenbacker Group, LLC

Distributing Alternative Investments through Registered Investment Advisors

The Registered Investment Advisor (RIA) market has specific nuances that are critical to understand when launching alternative investment products. Watch from executives with custodial platforms, FinTech platforms and others who work directly with RIAs and who assist with facilitating the distribution of investment products to RIAs.  In addition, you will hear from an RIA on the critical considerations they review prior to recommending alternative investments in client portfolios.

Moderator
Sheila Rapple
Managing Director, Blackstone

Bill Duffy
Vice President, Alternative Investments,
Fidelity Institutional

Dan Vene
Co-Founder & Managing Partner,
iCapital Network

Timothy R. Rolfs
Managing Director, Alternative Investment Product Management, Charles Schwab & Co., Inc.

Ron Dickinson 
Partner, Wealth Advisor,
Dickinson Investment Advisor

Registered Product Structure Overview

Attorneys who advise in the creation of registered offerings, including perpetual NAV REITs, perpetual BDCs, and 1940 Act Funds, such as interval funds and tender funds, will lead this discussion. This panel shared the characteristics of each product structure, as well as their pros and cons, the anticipated costs, and other considerations that may impact your investment strategy and distribution efforts.

Moderator
Trisha Miller, Executive Managing Director, Capital Markets, Redbrick LMD, LLC

Ali Connaughton
Partner,
Morrison & Foerster LLP

Rosemarie Thurston
Partner,
Alston & Bird LLP

Michael Choate
Partner,
Proskauer Rose, LLP

Benjamin Wells
Partner,
Simpson Thacher & Bartlett LLP

Private Offerings Overview

This robust discussion focused on the considerations involved in creating and distributing private offerings, including Delaware Statutory Trusts, Opportunity Zones, and other types of private offerings, as well as explore the characteristics, fee structures and types of investment strategies most common in today’s private offerings. Also, watch from executives at sponsor firms who successfully distribute private offerings.

Moderator
Deborah Froling
Partner, Kutak Rock LLP

Darryl Steinhause
Partner,
DLA Piper LLP

Mark Earley
President & CEO,
Hines Securities, Inc.

Keith Lampi
President & Chief Operating Officer,
Inland Private Capital

Aric Wenzl
Director,
Mick Law P.C.

Overview of Service Needs and Vendors

There is much that goes on behind the scenes to create and successfully launch an alternative investment offering. Various service providers play a key role in the experience of distribution partners, financial advisors, and investors. Watch from various vendors, including transfer agents, fin-tech platforms, third-party due diligence firms, etc. regarding the opportunities and pitfalls to take into consideration.

Moderator
Michelle Galeski
Principal, Rep Driven Results, LLC

Ross Prindle
Managing Director and Global Head of the Real Estate Advisory Group, Duff & Phelps, LLC

Brad West
COO,
Alternative Investment Exchange (AIX)

Todd Snyder
Managing Member,
Snyder Kearney, LLC

Christopher Shaw
Vice President-Head of Retail Alternative Transfer Agency,
SS&C

Raising Retail Capital – Distribution Model Evaluation

There are multiple distribution models to consider, including starting your own broker-dealer and building your own team, buying a distribution team, or out-sourcing the distribution activities, or possibly a combination of these models. Watch from various firms regarding the path they chose and the pros and cons of each model.

Moderator
Doug Krupa, Managing Director,
Co-Head of Private Wealth Partners, KKR & Co. Inc.

Neil Menard
President of Distribution,
Conversus, a StepStone Company

Emily Vande Krol
Managing Director, President,
CCO Capital, LLC

C. Jay Steigerwald III
President – Head of Distribution,
Ashford Securities LLC

Distributing Alternative Investments through Broker-Dealers

Watch executives at Wall Street wirehouse firms as well as large and small independent broker/dealers regarding a variety of topics for asset managers regarding distributing alternative investments via financial intermediaries. The panel discussed: the demand for various types of alternatives investments, the manager selection process, due diligence requirements, structure requirements, the role of compliance, and the expectations of how to build a strong distribution partnership, among others.

Moderator
Megan Gavin
Director, Strategic Partnerships, IPA

Jeremy Beal
Managing Director, Head of Alternative Investments, Wealth Management, Morgan Stanley

Matt Fries
Head of Due Diligence,
Cetera Financial Group

Frank A. McCarthy
Senior Vice President & General Manager,
Ameriprise Financial

Derek O’Leary
Managing Director,
Blue Owl Capital

How Regulatory and Legislative Activities Impact Product Offerings

The regulatory and legislative landscape is continuously evolving, which may impact, positively or negatively, your ability to successfully launch and manage an alternative investment. This session created awareness of current regulatory and legislative issues for you to consider, as well as inform you about policy advocacy initiatives and how you can play a role in a productive dialogue with Washington and the states.

Moderator
Anya Coverman
SVP, Government Affairs & General Counsel, IPA

Doyle Bartlett
Managing Shareholder,
GrayRobinson

Tom Selman
Founder,
Scopus Financial Group

Jason Goode
Partner,
Alston & Bird LLP

Mark Quinn
Director of Regulatory Affairs,
Cetera Financial Group

Brian Hicks
President & CEO,
Hicks Partners LLC