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13 June 2023 - Westin Palace

13 June 2023
Westin Palace

Day 1

Conference chair:

LEAD SPONSOR

IN ASSOCIATION WITH

Private markets: three ideas for 2023

An increasingly varied universe, private markets may offer interesting entry points for investors amid volatility in public markets and demand for capital. We highlight three areas to consider.

1. Private credit: evaluate opportunities in two areas

  • With balance sheets under pressure, banks could prioritise lending to investment-grade companies. That move could create potential opportunities for private markets investors in other areas of the market.
  • Higher returns in lending to lower-rated companies may provide more cushion to absorb potential losses in an economic slowdown – and mean investors are well positioned for when conditions improve.
  • A short-term, semi-liquid asset class with limited risk of losses from non-payment or changes in interest rates, trade finance can help investors build portfolio returns.
  • Investors may be able to play a part in helping banks meet strong demand for trade finance. And it can serve as an asset class to search for opportunities while waiting for longer-dated credit markets to reset.

2. Partnerships and secondary markets: more potential deals

  • In a tougher market for fundraising, we expect private equity firms (also called general partners or GPs) to seek out partners for deals, a process known as co-investment.
  • Large and trusted partners are expected to be particularly sought after to help fund deals as distribution becomes more challenging in softer markets.
  • Another potential opportunity for investors are GP-led secondary market deals and continuation funds, set up to take on the portfolio investments
    of a fund close to the end of its lifespan.
  • Large partners are expected to be in demand to help fund deals in a market that has swelled by double-digit rates over the past 20 years to an estimated USD 134 billion in 2021.1

1. Visit reference article

3. Infrastructure: two factors to think about

  • We see a huge need for capital to fund both the transition to more sustainable sources and to ensure the security of future energy supplies.
  • The scale of investment required is vast. Globally, cumulative investment of USD of 35 trillion is needed by 2030 to help fund the energy transition, 1 with a focus on efficiency, electrification, grid expansion and flexibility.

1. Visit reference article

  • Infrastructure assets often have features and contractual protections to enable investors to navigate periods of high inflation.
  • Investment opportunities may arise as companies seek to offload assets as inflation squeezes profit margins. We see these openings emerging across equity, high-yield and investment-grade credit.

In association with

In partnership with

Welcome

Welcome to the Evenco International, Pan-Iberian Fund Forum, in association with Bloomberg, bringing together the most influential fund selectors from across the Iberian Peninsula. At the forum, leading international asset managers will showcase their latest investment strategies across equities, fixed income, and alternatives in Global, US, and Emerging Markets.

We are delighted to welcome you to this exclusive conference at The Westin Palace Madrid to discuss the latest investment strategies and network with international fund managers to generate winning investment solutions. With in depth discussions, presentations, debates and networking opportunities in store, our Pan-Iberian Fund Forum will bring valuable insights, as well as the latest and most sophisticated investment strategies in the asset management industry.

AGENDA
13 JUNE 2023

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09.00 - 09.05

CFA SOCIETY SPAIN

Luis Buceta, cfa, cad

Chief Investment Officer at Banco Alcalá

VICE PRESIDENT, CFA SOCIETY SPAIN

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Luis Buceta, cfa, cad

Chief Investment Officer at Creand AM

VICE PRESIDENT, CFA SOCIETY SPAIN

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09.10 - 09.25

WELCOME SPEECH

LAURENT DOUILLET

Senior Equity Strategist specializing in European equity markets

Bloomberg Intelligence

Laurent Douillet is a senior equity strategist for Bloomberg Intelligence specializing in the European equity markets.

Based in Paris, Laurent has 27 years of experience in global equity markets. Prior to joining Bloomberg in May 2015, he worked as an equity analyst and portfolio manager covering the European technology and business services sectors at AllianceBernstein (1999-2009) and the global ex U.S technology sector at Lazard Asset Management (2010-2015). He was ranked in the Institutional Investor buy-side surveys of 2003 and 2005. Prior to his experience on the buy-side, Laurent worked as a telecom services and equipment analyst at Lehman Brothers from 1996 to 1998.

Laurent holds an M.B.A degree in accounting and finance from the Wharton School of the University of Pennsylvania.

Laurent Douillet is a senior equity strategist for Bloomberg Intelligence specializing in the European equity markets.

Based in Paris, Laurent has 27 years of experience in global equity markets. Prior to joining Bloomberg in May 2015, he worked as an equity analyst and portfolio manager covering the European technology and business services sectors at AllianceBernstein (1999-2009) and the global ex U.S technology sector at Lazard Asset Management (2010-2015). He was ranked in the Institutional Investor buy-side surveys of 2003 and 2005. Prior to his experience on the buy-side, Laurent worked as a telecom services and equipment analyst at Lehman Brothers from 1996 to 1998.

Laurent holds an M.B.A degree in accounting and finance from the Wharton School of the University of Pennsylvania.

11.25 - 11.45

SPONSOR PANEL

led by:

LAURENT DOUILLET

Senior Equity Strategist specializing in European equity markets

Bloomberg Intelligence

14.55 - 15.25

PANEL DEBATE

Riding the Inflation Wave

Jaime Martinez, CFA

Global Head of Asset Allocation

BBVA Asset Management

Jaime Martinez is a professional with 29 years of experience in the asset management industry. He is currently global head of asset allocation at BBVA Asset Management and Global Wealth, with direct responsibility over a portfolio of around EUR53 billion, ranging from mutual funds for retail clients to pension plans and discretionary portfolios for institutional investors and high net worth clients. He previously held managerial positions at Fonditel, Santander AM and other investment firms. Jaime has been a professor at the Instituto de Empresa, and frequent lecturer in IEB, AFI and other business schools. He holds a Licenciatura in Business and Economics (E2) from ICADE University in Madrid and has been CFA charter holder since 2001 and CFA ESG since sept 2022. 

Jaime Martinez is a professional with 29 years of experience in the asset management industry. He is currently global head of asset allocation at BBVA Asset Management and Global Wealth, with direct responsibility over a portfolio of around EUR53 billion, ranging from mutual funds for retail clients to pension plans and discretionary portfolios for institutional investors and high net worth clients. He previously held managerial positions at Fonditel, Santander AM and other investment firms. Jaime has been a professor at the Instituto de Empresa, and frequent lecturer in IEB, AFI and other business schools. He holds a Licenciatura in Business and Economics (E2) from ICADE University in Madrid and has been CFA charter holder since 2001 and CFA ESG since sept 2022. 

MANUEL MENDÍVIL

CIO & Co-CEO

Arcano Capital SGIIC

Manuel Mendívil is co- CEO and CIO of Arcano Capital, the €7bn asset alternatives asset manager owned by Arcano Partners. Manuel joined Arcano Partners in 2009 to launch the Fixed Income Alternatives area covering currently more than €2.1bn assets under management across 10 investment vehicles in European High Yield, Leveraged Loans, structured credit, private debt and opportunistic credit.  Previously, Manuel was Managing Director at Merrill Lynch in London, where he was responsible for over $4.5bn in structured credit. Manuel obtained a BSc in Business from CUNEF and holds an MBA from Columbia University.

Manuel Mendívil is co- CEO and CIO of Arcano Capital, the €7bn asset alternatives asset manager owned by Arcano Partners. Manuel joined Arcano Partners in 2009 to launch the Fixed Income Alternatives area covering currently more than €2.1bn assets under management across 10 investment vehicles in European High Yield, Leveraged Loans, structured credit, private debt and opportunistic credit.  Previously, Manuel was Managing Director at Merrill Lynch in London, where he was responsible for over $4.5bn in structured credit. Manuel obtained a BSc in Business from CUNEF and holds an MBA from Columbia University.

DAVID CANO MARTÍNEZ

CEO

AFI Inversiones Globales, SGIIC

David Cano is a professional with 25 years of experience in the asset management industry. Cano is partner and CEO at AFI Inversiones Globales, an institutional portfolio manager focused on mutual and pension funds. He is co-author of a dozen financial and economic books and over a hundred publications on macroeconomic, portfolio management, investment funds, derivatives and monetary policy. Cano holds a Degree in Business Management from Universidad Autónoma de Madrid (UAM) and a Master on Quantitative Finance by Afi Escuela de Finanzas. 

David Cano is a professional with 25 years of experience in the asset management industry. Cano is partner and CEO at AFI Inversiones Globales, an institutional portfolio manager focused on mutual and pension funds. He is co-author of a dozen financial and economic books and over a hundred publications on macroeconomic, portfolio management, investment funds, derivatives and monetary policy. Cano holds a Degree in Business Management from Universidad Autónoma de Madrid (UAM) and a Master on Quantitative Finance by Afi Escuela de Finanzas. 

LUIS MERINO GONZÁLEZ

Head of Fixed Income and Balanced Funds

Santalucía Asset Management

Luis Merino is a professional with 30 years of experience in the asset management industry. He is Head of Fixed Income and Balanced Funds at Santalucia Asset Management. Merino joined Santa Lucia in April 2019. Previously, Merino was managing partner and CIO at Wealth Advisors and Head of Fixed Income at Caixabank Asset Management. He teaches various postgraduate programs and gives tailor-made formation to financial institutions like BME and Banco de España. Merino obtained a BSc in Business from Universidad San Pablo CEU and, among other qualifications, holds a Master in Forex, Interest Rates and Derivatives and a Master in Management from Harvard University. 

Luis Merino is a professional with 30 years of experience in the asset management industry. He is Head of Fixed Income as well at Fund of Funds at Flexible Funds at Santa Lucia Asset Management. Merino joined Santa Lucia in April 2019. Previously, Merino was managing partner and CIO at Wealth Advisors and Head of Fixed Income at Caixabank Asset Management. He teaches various postgraduate programs and gives tailor-made formation to financial institutions like BME and Banco de España. Merino obtained a BSc in Business from Universidad San Pablo CEU and, among other qualifications, holds a Master in Forex, Interest Rates and Derivatives  

15.45 - 16.15

KEYNOTE ADDRESS

sponsored BY:

Geopolitical Uncertainty:
The Way Forward

JOSÉ MARÍA AZNAR

Keynote Speaker

Former Prime Minister of Spain

José María Aznar took office as prime minister of Spain in 1996, his country was economically paralyzed by high unemployment, a deficit and little growth. Aznar instituted numerous economic reforms that increased Spain’s GNP by 68% and propelled Spain to the eighth largest economy in the world.

José María Aznar took office as prime minister of Spain in 1996, his country was economically paralyzed by high unemployment, a deficit and little growth. Aznar instituted numerous economic reforms that increased Spain’s GNP by 68% and propelled Spain to the eighth largest economy in the world.

keynote address sponsored BY:

Programme menu

Italy

2023-2024 HISTORICAL FINDINGS
Asset Allocation – Fixed Income

U.S. Treasuries

Eurozone Government

EM Debt

Investment Grade

High Yield

Inflation-linked

Asset-backed Securities

Convertible Bonds

Green Bonds

Money Market

Italy

2023-2024 HISTORICAL FINDINGS
Asset Allocation – Equities

Global

Global EM

European

US

Japan

Asia ex Japan

Domestic

Frontier

italy

2023-2024 HISTORICAL FINDINGS
Asset Allocation – Alternatives

Commodities

Private Equity

Private Debt

Hedge Funds

Infrastructure

Real Estate

Collectibles

Spain

2023-2024 HISTORICAL FINDINGS
Asset Allocation – Fixed Income

U.S. Treasuries

Eurozone Government

EM Debt

Investment Grade

High Yield

Inflation-linked

Asset-backed Securities

Convertible Bonds

Green Bonds

Money Market

Spain

2023-2024 HISTORICAL FINDINGS
Asset Allocation – Equities

Global

Global EM

European

US

Japan

Asia ex Japan

Domestic

Frontier

Spain

2023-2024 HISTORICAL FINDINGS
Asset Allocation – Alternatives

Commodities

Private Equity

Private Debt

Hedge Funds

Infrastructure

Real Estate

Collectibles

Spain

2023-2023 HISTORICAL FINDINGS
Asset Allocation – Fixed Income

U.S. Treasuries

Eurozone Government

EM Debt

Investment Grade

High Yield

Inflation-linked

Asset-backed Securities

Convertible Bonds

Green Bonds

Spain

2022-2024 HISTORICAL FINDINGS
Asset Allocation – Alternatives

Private Equity

Private Debt

Hedge Funds

Infrastructure

Real Estate

Collectibles

Spain

2022-2024 HISTORICAL FINDINGS
Asset Allocation – Equities

Global

Global EM

European

US

Japan

Asia ex Japan

Domestic

Frontier

Portugal

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Alternatives

Private Equity

Private Debt

Real Estate

Infrastructure

Commodities

Hedge Funds

Collectibles

italy

2023-2024 HISTORICAL FINDINGS
Asset Allocation – Alternatives

Private Equity

Private Debt

Hedge Funds

Infrastructure

Real Estate

Collectibles

Italy

2023-2024 HISTORICAL FINDINGS
Asset Allocation – Fixed Income

U.S. Treasuries

Eurozone Government

EM Debt

Investment Grade

High Yield

Inflation-linked

Asset-backed Securities

Convertible Bonds

Green Bonds

Money Market

Italy

2023-2024 HISTORICAL FINDINGS
Asset Allocation – Equities

Global

Global EM

European

US

Japan

Asia ex Japan

Domestic

Frontier

Switzerland

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Alternatives

Private Equity

Private Debt

Hedge Funds

Infrastructure

Real Estate

Collectibles

Switzerland

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Fixed Income

U.S. Treasuries

Eurozone Government

EM Debt

Investment Grade

High Yield

Inflation-linked

Asset-backed Securities

Convertible Bonds

Green bonds

Switzerland

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Equities

Global

Global EM

European

US

Japan

Asia ex Japan

Domestic

Frontier

italy

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Alternatives

Private Equity

Private Debt

Hedge Funds

Infrastructure

Real Estate

Collectibles

Italy

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Fixed Income

U.S. Treasuries

Eurozone Government

EM Debt

Investment Grade

High Yield

Convertible Bonds

Italy

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Equities

Global

Global EM

European

US

Japan

Asia ex Japan

Domestic

Frontier

Portugal

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Fixed Income

High Yield

Investment Grade

Convertible Bonds

EM Debt

Eurozone Government

Inflation-linked

Asset-backed Securities

US Treasuries

Green Bonds

Portugal

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Equities

Global

Global EM

Asia ex Japan

US

European

Japan

Spain

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Alternatives

Private Equity

Private Debt

Hedge Funds

Infrastructure

Real Estate

Collectibles

Spain

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Fixed Income

U.S. Treasuries

Eurozone Government

EM Debt

Investment Grade

High Yield

Inflation-linked

Asset-backed Securities

Convertible Bonds

Green Bonds

Spain

2022-2023 HISTORICAL FINDINGS
Asset Allocation – Equities

Global

Global EM

European

US

Japan

Asia ex Japan

Domestic

Frontier

United Kingdom

Asset Allocation - Equities - Historical Findings

United Kingdom

Asset Allocation - Equities - Historical Findings

Global

Global EM

Asia ex Japan

US

European

Japan

Frontier

Domestic

PANEL DEBATE II

How to Deal With Sustained Inflation

Steinar Eikeland

Chief Investment Officer
at Industrifinans Kapitalforvaltning

Erik Hilde

Global Head of External Strategies
at Norges Bank Investment Management

Petter Slyngstadli

Head Of Research
at Norne Securities

Leif-Rune Husebye Rein

Chief Investment Officer
at Nordea Life Norway

PANEL DEBATE I

Panel debate I theme title

Steinar Eikeland

Chief Investment Officer
at Industrifinans Kapitalforvaltning

Erik Hilde

Global Head of External Strategies
at Norges Bank Investment Management

Petter Slyngstadli

Head Of Research
at Norne Securities

Leif-Rune Husebye Rein

Chief Investment Officer
at Nordea Life Norway

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