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08:45
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09:00WelcomeHugh Minch
Reporter, Creditflux (moderator) -
09:15Live Virtual Panel: Allocators Outlook
We ask our panel of expert allocators if structured credit in general, and CLOs in particular, still fit into their portfolios. What are realistic return expectations for the asset class? Are they changing how, and where, they invest in CLOs? And has their approach to manager selection been changed by their experience this year?
Kevin Bliss
Research Consultant, Credit & Multi-Asset Strategies, NEPC -
10:00In conversation: CLOs - Dispelling myths and outlook on the year ahead
Creditflux chats with CIFC’s Matthew Andrews Head of Capital Markets and Senior Portfolio Manager on the Structured Credit Investment Team, about the outlook for CLO investing, where he sees the most relative value and how the pandemic and presidential election have impacted CIFC’s approach to CLO investing.
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10:30Live Virtual Panel: CLO Performance Outlook
As 2020 draws to a close we ask some of the most experienced figures in the CLO market what we should take away from an extraordinary year. How have CLOs performed, and what do differences between vintages and geographies reveal? What can 2020 tell us about the role of the manager in a deal. And what should we expect for 2021?
Sean Griffin
Managing Director, J.P. MorganAmir Vardi
Managing Director, Credit Suisse Asset Management -
11:15
LP & GP Meetings
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14:00
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08:45
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09:00WelcomeHugh Minch
Reporter, Creditflux (moderator) -
09:15Live Virtual Panel: Looking beyond vanilla
The most innovative minds in the industry explore the options available to investors looking to diversify their portfolios beyond vanilla CLOs. How have CBOs, and flex-structures performed this year? Is there a role for synthetic alternatives like significant risk transfer deals or bespoke tranches? And what are the business and legal benefits (and challenges) of shifting into middle-market deals?
Yale Baron
Portfolio Manager, Anchorage CapitalAl Remeza
Associate Managing Director, Structured Finance, Moody's Investors Service -
10:00Fireside chat: Dispatches from the CLO trenches
Two of the top lawyers in the market sit down with Creditflux to discuss what they’ve been seeing recently. What new features are making it to the table, and what are investors pushing back on in the docs this month?
Hugh Minch
Reporter, Creditflux (moderator) -
10:15In Conversation: CLO Industries during COVID
Creditflux catches up with Peter Sallerson, Moody's Analytics' Senior Director, Content Solutions about his latest research into key metrics for industries, how CLO managers are classifying industry for their collateral, and what the implications of that might be for investors.
Tanvi Gupta
Head of Data Journalism, Creditflux (moderator) -
10:45Live Virtual Panel: Would you buy it?
Our exploration of relative value returns with four top CLO investors walking us through their investment process as they consider the merits of a variety of CLO investment case studies.
Dylan Ross
Partner, Brigade Capital ManagementCharlie Dinning
Data Journalist, Creditflux -
11:30
LP & GP Meetings
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Tom Davidson is assistant editor for Creditflux, the leading global leading information source for credit funds and CLOs. He focuses on event content and special features. After joining Creditflux in 2005 he moved to New York in 2012 to setup the Creditflux US office. He graduated from Cambridge University with an MSci in Natural Sciences.

Eli is a Managing Director of Cliffwater LLC and a member of our hedge fund research team. Prior to joining Cliffwater in 2007, Eli was a Senior Associate at MSCI Barra, where he conducted research in the areas of trading cost, securities analyst skill, real estate risk, firm valuation, and alpha forecasts.
He earned a BA in Astrophysics and Economics with distinction from the University of California, Berkeley and an MBA with highest honors from The Anderson School at the University of California, Los Angeles. Eli holds the Chartered Financial Analyst® designation and is a member of the CFA Society Los Angeles.

Michelle D'Souza is a reporter at Creditflux, where she covers private credit, with a focus on direct lending and credit funds.

Mr. Andrews has 16 years of experience in investment banking, structured finance and business development. Prior to joining CIFC, Mr. Andrews was Head of CLO Origination and Structuring for RBS Securities Inc.’s U.S. CLO business. Prior to running the CLO business, Mr. Andrews was a Director in the Asset Backed Finance Group where he was responsible for originating, financing, structuring and distributing new issue securitizations backed primarily by leveraged loans, credit cards and consumer loan receivables. Prior to joining RBS Securities Inc., via Greenwich Capital Markets, Inc., Mr. Andrews was an Associate at Banc One Capital Markets, Inc. where he focused on originating, structuring and distributing securitizations backed by credit cards, consumer loans, auto loans, student loans, rental cars and equipment loans. In addition, Mr. Andrews originated and distributed senior unsecured debt issuances for investment grade companies while at Banc One Capital Markets, Inc. Mr. Andrews holds a Bachelor of Business Administration in Finance with a minor in Economics from Southern Methodist University. Mr. Andrews is a CFA charterholder.

Tom Davidson is assistant editor for Creditflux, the leading global leading information source for credit funds and CLOs. He focuses on event content and special features. After joining Creditflux in 2005 he moved to New York in 2012 to setup the Creditflux US office. He graduated from Cambridge University with an MSci in Natural Sciences.

Connor Buttner, a Managing Director and Head of the Client Success at KANERAI, has more than a decade of experience working with clients to deliver financial technology solutions. At KANERAI, working with industry-leading buy-side and sell-side market participants in the structured credit market, Connor has helped enable clients with innovative custom solutions as well as implement KANERAI’s turn-key analytics platforms, including KANERAI’s suite of web-based and Excel-based interactive analytics, APIs, and portfolio optimization solutions.
Prior to joining KANERAI, Connor was a credit product specialist at Moody’s, where he focused on corporate credit and quantitative default tools for financial institutions throughout North America.
KANERAI is a leading provider of highly scalable structured finance investment analytics and enterprise data solutions for the financial services industry, best known for our award-winning CLO analytics platform, Insight® for CLOs. https://www.kanerai.com/

Ms. Lam is a member of Octagon’s Investment Committee and serves as the Portfolio Manager of 7 CLOs, 8 Separately Managed Accounts, and 3 Private Commingled Funds. Ms. Lam serves as the PM for the Firm’s Structured Credit (CLO Debt & Equity) Investment Strategies. Prior to becoming a Portfolio Manager, Ms. Lam oversaw Octagon's investments in the software, business services, finance & insurance, paper & packaging, gaming & lodging, homebuilding and real estate industries. She was also responsible for the structured credit exposure held in Octagon’s CLO vehicles.
Prior to joining Octagon in 1999, Ms. Lam attended Babson College where she graduated Summa Cum Laude with a B.S. in Investments. She received her CFA Charter in 2006.

Derek Miller is a managing director at Fitch Ratings. He currently heads the U.S. Structured Credit group responsible for collateralized loan obligations (CLOs) and other structured credit ratings. The Structured Credit group assigns new issue CLO ratings, maintains the accuracy of existing ratings, performs CLO asset manager assessments, and publishes research on transaction characteristics and performance.
Prior to this position Derek had oversight of new issue ratings for U.S. CLOs and assessments of U.S. CLO asset managers. Previously, he also held various positions within the Structured Credit group of Fitch Ratings, with a focus on new issue and surveillance ratings for CLOs, credit-linked notes, and other cash funded CDOs. Derek joined Fitch Ratings in 2001. He received a B.S. in finance from Indiana University.

Tom Davidson is assistant editor for Creditflux, the leading global leading information source for credit funds and CLOs. He focuses on event content and special features. After joining Creditflux in 2005 he moved to New York in 2012 to setup the Creditflux US office. He graduated from Cambridge University with an MSci in Natural Sciences.

Christopher P. Duerden, a partner in Dechert's global finance practice, focuses his practice on securitization and capital markets transactions. Mr. Duerden has extensive experience with collateralized loan obligations, leveraged loan warehouse facilities and a variety of asset backed securities transactions. In particular, he has focused on transactions involving the middle market sector but also has significant experience with securitizations of trade receivables. He represents various underwriters, collateral managers and borrower and lenders in respect of term and revolving warehouse facilities.
Mr. Duerden is ranked as a leading securitization lawyer by Chambers USA. Mr. Duerden is cited as "very good at combining legal expertise with a commercial understanding of the market." Mr. Duerden is also recognized as a Rising Star for structured finance by Law360.
Prior to joining Dechert, Mr. Duerden worked at a large international law firm where he was an associate in the banking and finance practice group.

Mr. Ijaz joined EJF in 2011 as a specialty finance insurance and bank analyst, and currently leads the credit analysis and trust preferred CDOs structuring for the Insurance and Bank trust preferred securities (“TruPS”) team.
Mr. Ijaz has designed the framework for four EJF sponsored securitizations, totaling approximately $1.3 billion. Mr. Ijaz also manages the investments of legacy TruPS CDOs. Mr. Ijaz came to EJF from Merrill Lynch, where he was employed as a summer research analyst in the Global Private Client Division. Prior to his time at Merrill Lynch, he worked for Citibank N.A. and Muslim Commercial Bank. Mr. Ijaz earned a BA in Business Economics from the College of Wooster.
Jim Kane is a co-founder and a Managing Partner of GreensLedge. Prior to forming GreensLedge, he was associated with J.P. Morgan for more than three years as a Managing Director and head of Capital Markets for the Global Structured Credit business. Jim began his career in the investment management business at Bankers Trust Company in 1990. In 1993, he shifted his focus to fixed income sales and trading specializing in structured credit from 1996 through today. Jim joined Deutsche Bank in 1999 through the acquisition of Bankers Trust. He was a Managing Director and member of the Global CDO Group at Deutsche Bank prior to joining J.P. Morgan in 2004. Jim’s area of expertise is developing and managing all aspects of origination and distribution with an emphasis on CLOs, CDOs, Credit Opportunity Funds and a wide range of credit derivative products. Jim holds a B.S. degree from the University of Richmond and is a Chartered Financial Analyst (CFA). Series 7, 24, 63, 79, and 99 licensed.

Buo Zhang is a senior member of the investment team within Symphony's structured product strategies. She is responsible for structuring the firm’s CLOs and trading CLO tranches. Prior to joining Symphony in 2019, Ms. Zhang held multiple positions within the Credit Investments Group at Credit Suisse Asset Management, where she began her career as a credit analyst in 2006. Most recently at her prior firm, she was a Director and was responsible for structuring and negotiating their CDO transactions and trading CLO tranches. Ms. Zhang holds a BS in Finance and Accounting from the Leonard N. Stern School of Business at New York University.

Rich Reilly has a broad securities practice with an emphasis on CLOs and other structured finance transactions, securitizations and investment fund formations in the United States and Europe. Rich has over twenty years of experience acting as counsel to arrangers, collateral managers and investors on US and European CLOs and other securitizations. His experience includes structuring CLOs and securitizations to comply with a variety of regulatory requirements including those imposed by the Dodd-Frank Act and the EU Securitisation Regulation.
In addition, he regularly represents investment advisors on the formation of private investment funds for the purpose of raising capital for investment in structured credit products including, among others, captive and non-captive CLO equity funds. Rich has substantial CLO manager M&A experience having represented buyers and sellers in several transactions in the US and Europe. In addition to his experience in the US CLO and securitization markets, Rich spent several years in London where he led the most active legal practice in the European CLO market from 2003 - 2011. In the asset securitization area, Rich has represented issuers, arrangers, credit enhancement providers and servicers in a broad range of asset classes including solar, market-based lending, CMBS, RMBS, credit cards, trade receivables and asset-backed commercial paper.
RECOGNITIONS
- Chambers USA recognized Rich as a leading lawyer for his CLO expertise, and noted that sources call him a "really great CLO lawyer," who can "cut through the legal jargon to explain matters in a digestible manner."
- Rich has been recognized by The Legal 500 United States, and clients state that he "[W]ould move mountains for clients if need be."
- The Lawyer Magazine “Hot 100,” 2004
CREDENTIALS
Education
- Georgetown University Law Center J.D.
- Georgetown University B.S.
Admissions
- New York

A distinguished finance and securitization attorney, author and speaker, Sean M. Solis is a partner in the New York office of Milbank and a member of the firm’s Alternative Investments Practice.
Mr. Solis has counseled US and international asset managers and hedge funds in connection with tens of billions of dollars of transactions across a wide variety of collateralized loan obligation transactions (“CLOs”) as well as other complex structured credit financing arrangements. Moreover, Mr. Solis is an expert in the various regulatory regimes applicable in the securitization space including the US and EU Risk Retention Rules and the Volcker Rule. In addition, Mr. Solis has significant experience with secured and unsecured lending transactions and he has advised asset managers and institutional buyers in connection with strategic investments in private investment firms and on structuring complex transactions in preparation for liquidity events.
Mr. Solis is widely recognized as one of the country’s leading attorneys in the representation of CLO collateral managers and CLO equity investors. Clients describe him as “very intelligent, commercial and always willing to go above and beyond to satisfy client needs and demands.” Mr. Solis is recognized by Chambers USA (2018), where peers note that he is “a young but very seasoned partner in the CLO space,” and clients praise his work ethic and creativity noting that he “works tirelessly for his clients and is consistently at the forefront of new market developments.” Mr. Solis is a frequent speaker at securitization industry conferences and is regularly quoted on industry matters by Creditflux, Reuters, Bloomberg and other leading financial media outlets.

Peter focuses on the CLO market at Moody’s Analytics via the further development of the Structured Finance Portal’s CLO section and related research. Mr. Sallerson began his finance career in 1986 in the Corporate Finance Department at Nomura Securities, where he executed numerous debt, equity and derivative transactions as well as a variety of domestic and international structured financings. At Bear Stearns from 1993-2007 (Senior Managing Director), Mr. Sallerson structured ABS for a variety of collateral. As a co-founder of the CBO/CLO group, his focus shifted to those asset classes along with CSOs and other non-generic structures. From 2007- 2010, Mr. Sallerson consulted on several projects in the structured finance markets. He ran Mitsubishi UFJ Securities (USA)’s CLO effort and advising its parent (BTMU) on its CLO investment activities from late 2010 until 2013. Mr. Sallerson graduated Phi Beta Kappa and Magna Cum Laude with a B.A. in Economics from Middlebury College and his M.B.A. is with honors from the University of Chicago Graduate School of Business.

Brandon joined Alcentra in March 2017 and is a Portfolio Manager for the firm’s structured credit funds. He is responsible for analyzing investments in structured products across Alcentra’s funds.
Before joining Alcentra, Brandon was a senior analyst at Omega for 5 years where he covered and traded structured products, focusing on CLO equity and mezzanine investing, as well as opportunistic corporate credit on the long and short side. Previously, Brandon worked at King Street Capital from 2006 to 2012, where he focused on investing in corporate structured products, high yield, and distressed credit. Prior to King Street, he worked in leveraged finance research at Credit Suisse. Brandon graduated from MIT in 2005 with a BS in Finance and minor in Economics, and is a CFA charterholder.

Angie Knighton Long, Chief Investment Officer, has key responsibilities for all investment-related activities at Palmer Square.
Prior to joining Palmer Square, Angie worked for JPMorgan Chase & Co. in New York for 13 years. Angie held many senior roles including Deputy Head of North American Credit Trading, Head of High Yield Trading, and Head of Credit Derivatives Trading. Angie has been a trader of many products including high yield bonds, high yield credit derivatives, distressed debt, capital structure arbitrage, and structured credit. In addition, she worked with the Global Head of Credit Trading to help oversee risk management for the High Yield and High Grade credit trading books.
Named a Managing Director at age 29, Angie is considered a pioneer in the Credit Derivatives industry and is credited with creating the HYDI (High Yield Debt Index), the first liquid credit trading index and predecessor to all of today’s indices (the Markit CDX).
Angie received an AB degree in Economics from Princeton University and is a CFA ® charterholder. During her years at Princeton, Angie was a member of two National Championship Rugby Teams and was selected as an All-American in 1997.

Ms. Kollmorgen is a Managing Director and Portfolio Manager responsible for managing the investments in Collateralized Loan Obligation (“CLO”) tranches issued by third-party managers. She has more than 20 years of fixed income experience that includes originating, structuring, sourcing, investing and trading US and European products for Bank of America Merrill Lynch in New York, HSH Nordbank in Hamburg, and BNP Paribas in London. Ms. Kollmorgen holds an MBA from The Wharton School, an MA from the Lauder Institute, University of Pennsylvania, and a BA, cum laude, from Wellesley College. She is a CFA charterholder and holds series 7 and 63 licenses.