CLO Summit 2018

Monarch Beach Resort, Dana Point, CA
November 28, 2018 - November 30, 2018

65 days left

Opal Group is proud to present our CLO Summit. The CLO Summit is an educational forum designed for investors, issuers, underwriters, rating agencies, lawyers and accountants. At this conference, they can learn the newest techniques to maximize returns and reduce risk exposure in this growing area of Asset-Backed Finance. An in-depth review of recent regulatory changes in addition to rating agency methodology, legal, tax and structural considerations will provide attendees with the tools necessary to stay one step ahead of their competitors.

The conference will serve as an opportunity where a meaningful dialogue can be opened to address concerns regarding this dynamic segment of the market. This event promises to be the "must attend" CLO event of 2018.

To request the full 2018 agenda and participant list


Current as of September 25, 2018

11:00AM

Exhibit Set-Up / Registration Desk Opens

All confirmed pre-registered delegates must approach the Registration Desk to check in and pick up conference badges. Business Cards are required to retrieve badges.

1:25PM

Co-Chair Welcoming Remarks

1:30PM

Investing in CLOs for Family Offices & Pension Funds

2:15PM

How Technology is Streamlining the Loan Trading Process

  • Managing Credit portfolios can be a time consuming, manual process
  • Multiple systems with poor integration means a high operational overhead
  • New integrated solutions streamline the process from front office to settlements
3:00PM

CLO Hedges & Alternative Structures

  • Total return swaps, interest rate swaps and options
  • CLO warehouses
  • Leveraged loan exposure
3:45PM

Document Erosion in the US Loan Market

4:30PM

The Current State and Outlook for the CLO Market

5:30PM

Networking Cocktail Reception

Join us and unwind with fellow industry professionals for refreshments & hors d’oeuvres.

7:30AM

Registration Desk Opens

All confirmed pre-registered delegates must approach the Registration Desk to check in and pick up conference badges. Business Cards are required to retrieve badges.

7:30AM

Continental Breakfast Opens

8:00AM

Co-Chair Welcoming Remarks

8:15AM

• Key Structural Features of the Deal
• Legal Structural Features of the Deal
• Mechanics of Portfolio Construction / Ramping up the Portfolio
• Credit Investment Strategies

9:00AM
9:45AM

• Risk retention
• Leveraged Loans
• Liquidity
• Legal Issues

10:30AM

Networking Refreshment Break

10:45AM

• The latest and greatest in CLO structures and what new structural features to expect in 2019
• CLO pricing and its impact on structure
• The latest developments in features such as reinvestment, WAL tests, Cov-Lite Loans and Repricings

• The Current State and the latest developments in Mezz CLO investing
• The Impact of regulatory Requirements
• Relative value
• 2019 Outlook: Issuance / spreads / structural innovations

11:30AM

• Current trends & market drivers – BWIC & trade volumes, liquidity & spreads
• Finding relative value in secondary CLOs – uncovering opportunities
• Analyzing secondary CLOs – metrics & observations
• Market reaction to risk retention rulings, Volcker & Non-Volcker compliant deals
• Longer term concerns
• Outlook for 2019 & beyond

12:15PM

Networking Luncheon on the Pacific Lawn

1:30PM

• Attracting investors to your platform
• Supporting your platform: infrastructure options
• Meeting today’s challenges

2:15PM

Join a panel of senior Corporate Rating analysts as they discuss what might happen in their sectors when the next downturn arrives, and, with several CLO market participants, what the implications are for CLO transaction performance.

• How will the lack of “hard assets” affect recoveries for software companies?
• Who are the winners and losers from technological disruption of media companies?
• Is healthcare a defensive sector that will hold up well in the next downturn?
• Are CLOs better or worse positioned than they were before the last downturn?

• How important in Equity Return as a measure of Manager Performance for Debt investors
• AAA spread as a sign of market perception of the manager?
• “Good Times” vs “Stressful Times” managers
• Collateral Quality tests
• MV Metrics
• Manager Size
• PM Changes
• Tools
• Buy and Hold vs Active traders
• Sub Advisors

3:00PM

• Today’s Real Estate CLO Market
• What are Real Estate CLOs?
• How do CRE CLOs compare to corporate loan CLOs?
• Key Structural Features and Advantages
• CRE CLO Issuance Trends
• Forecasts for Real Estate CLOs in 2019

• How to handle and/or delegate tactical discretion between equity and debt
• Whether to allow for a short Component
• Operational considerations in the current environment and how strategy/structure may influence operational costs

3:45PM

Networking Refreshment Break

4:00PM

• AMRs – will they reshape the future of CLO refinancing & resets?

4:45PM

• Looking back on 2018 and Forward to 2019
• Global Demand for US CLOs
• Drawing distinctions between the US and European CLO markets
• Rating agency sovereign rating complexities
• Insight into China / Asia/ & Other Markets
• How Europe is managing risk retention
• Leveraged Loans: Supply and demand
• Landscape of collateral managers: Moving from consolidation to Diversification
• European regulatory landscape—CRA3, CRR, AIFMD, EMIR and others
• 2019 and Beyond: What’s next in the CLO/CDO universe

5:30PM

Networking Cocktail Reception

Join us and unwind with fellow industry professionals for refreshments & hors d’oeuvres.

8:30AM

Continental Breakfast

8:55AM

Opening Remarks

9:00AM

Obstacles Faced by Smaller Managers

9:45AM

Best Practices / Operational Issues for Maintaining a CLO

10:30AM

CLOS 2.0
Re-Pricings, Refinancings & Resets

• Current refinancing activity this year and how does it compare to last year?
• What are the main drivers/obstacles for refi’s?
• What other documentation changes you see in addition to reducing spreads?
• What is the outlook for refinancings in 2019? Risk Retention
• How has risk retention impacted the issuance of CLOs 2.0?
• What are some of the recent challenges in constructing and maintaining a CLO

11:15AM

Researcher’s Roundtable

• How attractive are CLOs from a relative value perspective right now:
• Across the CLO capital stack?
• Compared to other asset classes?
• Does the market appropriately differentiate pricing based on the collateral manager?
• With weakening loan fundamentals / rising defaults anticipated:
• What are the implications to the CLO market?
• How can collateral manager style / strategy impact performance?
• Risk Retention: How is / will this impact the CLO market?
• Can we learn anything from Europe?
• What changes have you seen in the CLO buyer base over the past year?
• What is your 2019 CLO Outlook for US & Euro CLOs (e.g., issuance, redemptions , key themes, etc.)

12:00PM

Conference Concludes

12:30PM

Golf Tournament – Monarch Beach Golf Links – preregistration required

(See recommended hotels below)" data-x="33.48269999999999" data-y="-117.7163501">
1star
Monarch Beach Resort & Spa is SOLD OUT
(See recommended hotels below)
1 Monarch Beach Resort, Dana Point, CA, USA
949.234.3900

Hotels Rooms Rates
Monarch Beach Resort & Spa
1 Monarch Beach Resort Dana Point, CA 92629
SOLD OUT
Ritz Carlton
1 Ritz Carlton Dr. Dana Point CA 92629
King: $349
Double / Double: $349
Rates are exclusive of tax, currently 10.1% and a $3.00 Tourism Tax per night
Laguna Cliffs Marriott Resort & Spa
25135 Park Lantern Dana Point CA 92629
Resort Single / Double $305
Rates are exclusive of tax, currently 10.195% and a $3.00 Dana Point TBID assessment charge per / room per night.
  • Rooms are available only to those participants who are registered conference attendees.
  • The name on the form will be the name of the guest room.
  • Rooms are allocated on a first come first serve basis. Room types/rates are subject to availability.
  • Rooms will not be guaranteed without a credit card.

Registration Pricing

Early Bird Rate (exp 9/15) Standard Rate
Investor* - $795
Issuer - $1,295
Standard $1,995 $2,495

*Subject to Opal Group’s verification and approval. Only individuals who are solely investing on their own behalf can be verified for a complimentary pass. Solution Providers or Fund Providers to 3rd parties will not be able to receive complimentary access. As investment portfolios/strategies are constantly changing, we reserve the right to re- verify past delegates for future complimentary passes.

Sponsorship, Exhibition & Speaking Opportunities 212.532.9898 info@opalgroup.net
  • THE AAA CONUNDRUM, WHAT WOULD BREAK THE IMPASSE?
  • THE CURRENT STATE AND OUTLOOK FOR THE CLO MARKET
  • INVESTOR ROUNDTABLE
  • HOW TO CONSTRUCT A CLO: BUILDING A PORTFOLIO AND NEGOTIATING DOCUMENTS
  • EVALUATING LEVERAGED LOAN MARKET PERFORMANCE AND DIRECTION
  • CLO EQUITY
  • ISSUER ROUNDTABLE
  • CLO MARKETS IN A REGULATED ENVIRONMENT
  • HOW TO ANALYZE STRUCTURAL FEATURES OF A CLO
  • CLO MEZZ TRANCHES / OPPORTUNITIES AND RELATIVE VALUE
  • VALUATION, ANALYSIS & COMMUNICATION
  • SECONDARY CLO MARKET
  • RELATIVE VALUE IN THE CLO MARKET
  • LAUNCHING A CLO PLATFORM
  • CLO MANAGERS ROUNDTABLE – STATE OF THE ART
  • MANAGER SCREENING AND EVALUATION
  • CLOS 2.0
  • SUCCESSFUL CLO MANAGEMENT
  • BEST PRACTICES-OPERATIONAL ISSUES FOR MAINTAINING A CLO
  • ACCOUNTING AND TAX
  • OPPORTUNITIES AND OBSTACLES IN THE EUROPEAN CLO MARKET
  • MIDDLE MARKET
  • CLO HEDGES & ALTERNATIVE STRUCTURES RESEARCHER’S ROUNDTABLE