Bundesverband Alternative Investments e.V. (BAI)
Moderation:
Frank Dornseifer, Geschäftsführer, BAI e.V. (Meridian)
Michael Bommer, Senior Referent Recht & Policy, BAI e.V. (Mistral)
09:10 - 09:55 AM (Meridian)
Economic sustainability between politics and statistics: The emperor and his new clothes
Sustainability is an economic term that is precisely defined and measurable at company level as well as at the fiscal level of the national budget. In political economy terms, the label is used as a kind of rubber term. In other words: (almost) everyone uses it and nobody really knows what it means. Whether it is about the environment, social issues, fiscal policy or investments - the zeitgeist uses the corresponding attribute in an almost inflationary manner everywhere. But what exactly does "sustainability" mean? And what has become of it in ESG, taxonomy, etc.?
Prof. Dr. Bernd Raffelhüschen, Research Center for Intergenerational Contracts, Institute for Public Finance and Social Policy, Albert-Ludwigs-Universität Freiburg
10:00 - 10:30 AM
Real Estate debt, a compelling opportunity (Orient - in German)
- Relative value of RE debt vs other asset classes
- How investors can benefit from the funding gap
- Examples for current financing opportunities
Niklas Hackl, Senior Fund Manager CRE Private Debt, AXA Investment Managers Alts
Supporting the energy transition via infrastructure debt investments (Room Okzident)
- Addressing the demand for alternative capital allocation to finance the modernization of European infrastructure
- Successful investments in infrastructure through structuring of innovative transactions
- Predictable and stable long-term income from selected infrastructure sectors
Jean-Francis Dusch, CEO, Edmond de Rothschild Asset Management SA (France)
Going East - a fresh look on middle/eastern European markets and impact investing opportunities in the energy sector (Kristall - in German)
- Economic development trends in Middle/South Eastern Europe and the prospects for a continued success story
- The energy transition in the region and opportunities for renewable investments
Christoph Freytag, Managing Director, Finance in Motion
Legal & Tax Update for Institutional Investors (Mistral - in German)
- Regulatory developements (Eligible Assets Directive, Solvency II, IORP II, CRR, ESG)
- Tax Update (AStG-AE, USt, InvStG)
- Update: Current Market Terms
Dr. Jens Steinmüller, Partner, POELLATH
10:35 - 11:05 AM
Finding value in the current real estate market (Orient - in German)
- Where are the opportunities?
- Which sectors and markets?
- How to unlock these opportunities?
- Navigating risks in a challenging environment?
Antonio Galea, Head of DACH, ICG Real Estate
Infrastructure investments by institutional investors - regulatory and tax aspects (Mistral - in German)
- Regulatory and tax law hot topics and developments - Where should the journey take us?
- Infrastructure fund investments - regulatory framework
- Infrastructure fund investments - tax law framework
Martin Hüwel, Partner, Luther Rechtsanwaltsgesellschaft
Dr. Bela Jansen, Partner, Luther Rechtsanwaltsgesellschaft
Infrastructure: perspectives on a maturing asset class (Kristall - in German)
- Development and performance to date
- GPs and LPs: key trends
- Current investment themes
- Energy transition: testing boundaries
Dr. Christian Fingerle, Senior Managing Director, Stepstone
Infr structure & Administr ti n (Okzident - in German)
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The A and O of infrastructure asset administration
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Reporting for investors and regulators
- Valuation: the important linchpin
Dr. Sofia Harrschar, Head of Alternative Investments & Structuring, Member of the Board and Executive Director, Universal Investment
11:35 - 12:20 PM
ESG in practical implementation for alternative investments - illiquid asset classes (Mistral)
- Discussion of advantages and disadvantages of various asset classes
- Driven by regulation versus investor expectations
- Practical handling of regulatory challenges
- ESG Reporting / PAI
Thomas Klein, Managing Director, DEG
Katja Lammert, Chief Investment Officer Alternative Investments, MEAG
Frank Müller, Partner, McDermott Will & Emery
Heike Schmitz, Partnerin, Herbert Smith Freehills
Moderation: Jegor Tokarevich, Founder & CEO, SOF
Fixed income vs. alternatives - what implications does the rise in interest rates have for portfolio allocation? (Meridian)
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Alternative asset classes are becoming less attractive as a substitute for bonds. For which segments do rising investment-grade bond yields represent the greatest competition (which AI asset classes benefit from and which suffer from the interest rate turnaround)?
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What role does the investment region play (Europe, US, Asia)? Should credit portfolios be globally diversified or should preference be given to local strategies?
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Large cap vs. small cap/mid-market: which segment is more attractive?
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Can new investor groups be tapped by combining public and private credit investments (e.g. private investors)?
Cathy Bevan, Head of Structured Credit, Alcentra
Cecile Davies, Executive Vice President and Portfolio Manager, PIMCO
Cécile Mayer Lévi, Head of Private Debt, Tikehau Capital
James Vanek, Partner and Co-Head of Global Performing Credit, Apollo Global Management
Moderation: Dr. Matthias Unser, Founding Partner & Co-Head Private Debt, YIELCO Investments
12:25 - 12:55 PM
Infrastructure with regard to private markets allocation (Meridian - in German)
- 15 years of experience from the perspective of institutional investors
- Development of the asset class incl. expectations vs. fulfillment
- Portfolio added value, "lessons learned", "to do's" & outlook
Dajana Brodmann, responsible for Private Equity & Infrastructure, E.ON SE
Uwe Fleischhauer, Founding partner & Co-Head Infrastructure, Yielco Investments
Energy Transition and Green Hydrogen Investment environment (Mistral - in German)
- expected macroeconomic environment of energy transition
- technical readyness of green hydrogen
- market outlook for investors with ESG and impact focus
Thomas Engelmann, CFA, CAIA, Head of Energy Transition, KGAL Investment Management
02:00 - 02:30 PM
Climate change: Risks for insurers - opportunities for ILS investors? (Meridian - in German)
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Growing insured losses from natural catastrophes
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Reasons for risk transfer from (re)insurers to the capital market
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Which insurance risks are best suited for investors?
Nils Ossenbrink, Managing Partner, Head of Distribution and Products, Twelve Capital
Sustainable investment: Educational real estate as an essential building block for development (Mistral - in German)
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Introduction to existing challenges in the German education landscape - an opportunity for private investors?
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Investment needs in the field of educational real estate
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Presentation of concrete practical examples of investments in the education sector
Tanja Volksheimer, Head of Fund Management, NEXT Generation Invest
02:35 - 03:05 PM
Infrastructure quo vadis: a GP/LP view on 2024 and beyond (Meridian - in German)
An interactive exchange from the perspective of a GP and an LP on developments in the infrastructure market, trend topics and allocation decisions
Esther Peiner, Partner, Head of Private Infrastructure, Partners Group
Alexandra Bitterle, Senior Investment Managerin, Bayerische Versorgungskammer (BVK)
Private Equity Liquidity Management in times of ELTIF2 (Mistral - in German)
- Key learnings form the past - a summary of back tests on last years liquidity forecasts
- An overview to the different approaches and best practices
- How can an institutional liquidity forecasting framework look like to satisfy ever more challenging stakeholder requirements
Benedikt Höfelmayr, Partner, CEPRES
03:10 - 03:40 PM
Investing with an industrial approach - systematic asset management as a sustainable driver of value creation (Kristall - in German)
- Current opportunities and challenges for infrastructure investments
- Industrial expertise and approach in asset management
- Practical examples
Dr. Daniel von der Schulenburg, Senior Managing Director & Head of Infrastructure Germany, Benelux & Northern Europe, ARDIAN
Private Debt: Mid market lending: sector specific or generalist approach (Orient - in German)
- Most recent notable changes in sectors: e.g. healthcare staffing issues and wage pressure vs sticky revenues, stalling software growth
- From a portfolio perspective: e.g. deployment, diversification, investment guidelines (e.g. max leverage vs software deals, covenant lite loan)
- Natural sector focus of private credit (needs sufficient cash flow, needs stability etc.)
- ESG leading to sector focus
Rizwan Khan, Head of Private Credit Sales for Germany, Austria & Switzerland, BlackRock
Thomas Lehner, Investment Analyst Private Debt, Viridium Gruppe
Dr. Theo Weber, Head of Origination of Private Debt in Germany within BlackRock International Fixed Income
Driving the decarbonization of road transport with investments in charging infrastructure for electric vehicles ("EV") (Okzident - in German)
- Availability of charging infrastructure and EV costs as key drivers of transformation
- Market segments for charging infrastructure: market sizes, volume risks and capital requirements
- Case study: Investment in a charging infrastructure operator for apartment buildings, office and administration buildings
Alexander Hunzinger, Co-CIO, SUSI Partners
Private Equity: Correct Benchmarking of Secondary Funds - What to consider? (Mistral - in German)
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Secondary specific KPI’s
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Influence of transaction types (LP stakes, GP-led, direct secondaries)
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Influence of credit line, recycling & leverage
Ralph Büchel, Partner Private Equity, Head of Secondaries, Unigestion
04:10 - 04:55 PM
The energy transition as a driver of innovation in the infrastructure market (Meridian - in German)
- Interaction of classic products and innovative technologies
- Tension between liquidity and maturities
- Energy security and geopolitical risk
Nicolas Leissle, Leiter Fund- & Portfolio-Management im Bereich Infrastructure & Energy, Berenberg
Karin Kaiser, Head of Euro Private Markets, Schroders Capital
Kerstin Struckmann, Global Head of Product Management Institutional Clients, Commerz Real
Sarah von Meyerinck, Head of Portfolio Management & Strategy and a lead Portfolio Manager in BlackRock's Infrastructure Solutions Team, BlackRock
Moderation: Uwe Schober, Head of Equity and Fund Director Renewables Growth Fund, Finance in Motion
Is the boom over? Corporate private equity in the current market environment (Mistral)
- Interest rates and liquidity as a challenge
- Difficult environment for exits versus lower valuation as a good entry opportunity?
- Operational influence of PE companies in target companies
- Current developments in secondaries
Sofia Gertsberg, Managing Director, HarbourVest Partners
Cara Hubbard, Investment Director, Private Investments, Wellington Management
Cameron Payne, Principal, Co-Head of EMEA, Federated Hermes
Derek Snyder, Partner Private Equity, AltamarCAM
Moderation: Philipp Patschkowski, Managing Director, Member of the Secondary Investment Committee, Neuberger Berman
05:00 - 05:40 PM (Meridian)
From algorithms to assets: How artificial intelligence is transforming the investment sector!
- Digitalization and AI are driving innovation in asset management.
- Next-generation internet revolutionizes asset management.
- Personalization of customer communication and advice through AI-generated content.
- Development of innovative financial products and services using generative AI.
- Increased efficiency in data analysis and asset screening to identify opportunities and risks.
- Use Cases of AI.
Prof. Dr. Isabell Welpe, Chair for Strategy and Organization, TUM School of Management
from 06:00 PM: Evening program (Zoo Gesellschaftshaus)
During the dinner, the keynote speakers will be available for interesting discussions.
Closed Door Event: Free participation opportunity for all registered and admitted investors, i.e. pension funds, insurance companies, foundations, single family offices, as well as a limited number of representatives of each of the Gold sponsors/the dinner sponsor. It is absolutely necessary to register in advance and confirm of the BAI office is required!
Dinner takes place at Zoo Gesellschaftshaus.
Get-together speech by Thorsten Havener
Thorsten Havener is the mind reader. With his incredible ability to read minds and make predictions, he fascinates people all over the world.