Bundesverband Alternative Investments e.V. (BAI)

Day 1, Tuesday, April 23, 2024

Sponsor of the Day

09:00 - 09:10 AM (Room Meridian)

Opening Remarks

 

Achim Pütz, Chairman, BAI e.V.

 

Moderation: Frank Dornseifer, Managing Director, BAI e.V.

 

 

09:10 - 09:55 AM (Room Meridian)

Key-Note Speech 

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

Break Out Session I

Real Estate debt, a compelling opportunity (Room Orient)

  • Relative value of RE debt vs other asset classes
  • How investors can benefit from the funding gap
  • Examples for current financing opportunities

Antonio de Laurentiis, Global Head of 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 (Room 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 (Room 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 P+P Pöllath + Partners, Rechtsanwälte und Steuerberater mbB

10:35 - 11:05 AM

Break Out Session II

Finding value in current Real Estate Market (Room Orient - in German)

  • Where are the opportunities? 
  • Which sectors and markets? 
  • How to unlock these opportunities?
  • Navigating risks in a challenging environment?

Antonio Galea, Principal, ICG Real Estate 

 

Infrastructure investments by institutional investors - regulatory and tax aspects (Raum 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 Rechstanwaltsgesellschaft mbH
Dr. Bela Jansen, Partner, Luther Rechtsanwaltsgesellschaft mbH

Infrastructure: perspectives on a maturing asset class (Room 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 (Room Okzident - in German)

  • The A and O of infrastructure asset administration

  • 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

11:05 - 11:35 AM

Coffee Break

11:35 - 12:20 PM

Members Panel

ESG in practical implementation for alternative investments - illiquid asset classes (Room 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? (Room Meridian)

  •  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)?

  • What role does the investment region play (Europe, US, Asia)? Should credit portfolios be globally diversified or should preference be given to local strategies?

  • Large cap vs. small cap/mid-market: which segment is more attractive?

  • 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, Portfolio Manager for Global Large Cap Direct Origination, Apollo Management

Moderation: Dr. Matthias Unser, Co-Head Private Debt, YIELCO

12:25 - 12:55 PM

Member Slot 

Institutional infrastructure portfolio management (Room Meridian)

  • Challenges and requirements
  • Implementation example VOLKSWOHL BUND Versicherungen
  • Investment topics
  • Reporting and ESG issues

Klaus Keßner, Abteilungsleiter Kapitalanlagen-Portfoliomanagement, VOLKSWOHL BUND Versicherungen
Dr. Bernd Kreuter, Managing Partner Palladio GmbH

Energy Transition and Green Hydrogen Investment environment (Room Mistral)

  • expected macroeconomic environment of energy transition
  • technical readyness of green hydrogen
  • market outlook for investors with ESG and impact focus

Thomas Engelmann, Head of Energy Transition, KGAL Investment Management

12:55 -02:00 PM

Lunch Break

sponsored by

02:00 - 02:30 PM

Member Slot 

Climate change: Risks for insurers - opportunities for ILS investors? (Room Meridian)

  • Growing insured losses from natural catastrophes

  • Reasons for risk transfer from (re)insurers to the capital market

  • Which insurance risks are best suited for investors?

Nils Ossenbrink, Managing Partner, Head of Distribution and Products, Twelve Captal

Sustainable investment: Educational real estate as an essential building block for development (Room Mistral)

  • Introduction to existing challenges in the German education landscape - an opportunity for private investors?

  • Investment needs in the field of educational real estate

  • 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

Member Slot 

Infrastructure: quo vadis: a GP/LP view on 2024 and beyond (Room Meridian)

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, Head Infrastructure, Partners Group
Alexandra Bitterle, Senior Investment Manager, BVK

Cash management in relation to private equity funds (Room Mistral)

  • 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 

Dr. Daniel Schmidt, Founding Partner & CEO, CEPRES

03:10 - 03:40 PM

Break Out Session III

Investing with an industrial approach - systematic asset management as a sustainable driver of value creation (Room 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 of generalist approach (Room Orient)

Rizwan Khan, Head of Private Credit Sales for Germany, Austria & Switzerland, BlackRock

Driving the decarbonization of road transport with investments in charging infrastructure for electric vehicles ("EV") (Room 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 charging infrastructure operators for apartment buildings, office and administration buildings

Alexander Hunzinger, Co-CIO, SUSI Partners

Private Equity: Correct Benchmarking of Secondary Funds - What to consider? (Room Mistral - in German)

  • Influence of transaction types (LP stakes, GP-led, direct secondaries)
  • Influence of recycling & leverage
  • Influence of "unutilized capital"

Ralph Büchel, Partner Private Equity, Head of Secondaries, Unigestion

03:40 - 04:10 PM

Coffee Break

04:10 - 04:55 PM

Members Panel 

Infrastructure/energy transition/renewable energies (Room Meridian)

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, CommerzReal
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 Room) in English

  • 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

Olga Cooke, Vice President, Quantitative Invetsment Science, HarbourVest
Cara Hubbard, Investment Director, Private Investments, Wellington Management
Derek Snyder, Partner Private Equity, AltamarCAM
N.N., Federated Hermes

Moderation: Philipp Patschkowski, Managing Director, Member of the Secondary Investment Committee, Neuberger Berman

05:00 - 05:40 PM (Room Meridian)

Key-Note Speech

From algorithms to assets: How artificial intelligence is transforming the investment sector!

Prof. Dr. Isabell Welpe, Chair for Strategy and Organization, TUM School of Management

 

05:40 - 05:45 PM (Room Meridian)

Closing Remarks

Frank Dornseifer, Managing Director, BAI e.V.

 

from 06:00 PM: Evening program (Zoo Gesellschaftshaus)

6:00 - 8:30pm

Investors dinner, sponsored by

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, pension funds, single family and funds, 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 and confirm in advance of the BAI office is required!

Dinner takes place at Zoo Gesellschaftshaus.

 

6:30pm - 00:30am

Evening event at Zoo Gesellschaftshaus with buffet and drinks, sponsored by

 

8:45pm

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.

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