Private Debt Secondaries
Join this panel to hear our expert speakers explore the expansion of the private debt secondaries market including the key drivers such as active portfolio management by LPs looking to rebalance their portfolios as well as the likely rise in GP-led restructurings following COVID-19 related market dislocation.
Speakers
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Toni is a Partner in Pantheon’s European Investment and Global Private Debt Investment Teams and is a member of the European Investment Committee and Global Credit Committee. He previously worked in the private markets team at Cambridge Associates, where he advised institutional investors on their private market investment programs and conducted research and due diligence on private market funds, managers, and markets. Toni has an MPhil in economics from the University of Oxford and a BEng in engineering with business finance, which was jointly taught at University College London and the London School of Economics and Political Science. He is fluent in Finnish, Spanish and English, and is based in London.
Olga Kosters joined Tikehau Capital in 2019 to head the Private Debt Secondaries investment strategy. Olga has twenty years of investment and structuring experience in private and public capital markets. Prior to joining Tikehau Capital, she advised large institutional investors on US private credit strategies while at StepStone Global and led the execution of corporate private debt strategy at Zurich Insurance Group. Prior to this, Olga held several positions at the European Bank for Reconstruction and Development in London.
Jeff leads the global secondaries business, focused on GP-led and special situation transactions, and partners with private equity, private credit, and secondary fund sponsors. Prior to joining the firm, he was co-head of Houlihan Lokey’s illiquid financial assets practice, a unit he co-founded and built into the leading investment banking group focused on customized transactions for holders of illiquid securities, and before that, he was a senior managing director at Bear Stearns & Co., where he founded, built, and co-led, the private equity fund-of-funds and secondary investing unit of Bear Stearns Asset Management. Earlier in his career, Jeff co-founded BDC Financial, a firm that provided customized private equity investment management and advisory services to institutional and high-net-worth investors. He also held investment banking positions at Morgan Stanley and Goldman Sachs.
Daniel Roddick founded Ely Place Partners in 2018, an independent private equity placement and second advisory specialist. Prior to this he ran the placement business of EPIC Private Equity. Daniel has 20 years of experience in corporate finance and private equity advisory. Daniel formerly worked at Campbell Lutyens where he assisted in raising private equity funds,on the sale and restructuring of private equity assets, and led the marketing of funds across the Nordic region. Before Campbell Lutyens, he was at McKinsey and Co., working in the Corporate Finance and Strategy Practice. Daniel read Engineering, Economics and Management at Oxford University, has an MA from Royal Academy of Music and is a CFA charter holder.
Arthur H. Penn is the Founder and Managing Partner of PennantPark Investment Advisers (“PPIA") which was founded in 2007. Mr. Penn is Chairman and Chief Executive Officer of PennantPark Investment Corporation and PennantPark Floating Rate Capital, Ltd. Mr. Penn co-founded Apollo Investment Management in February 2004, where he was a Managing Partner through November 2006. He also served as Chief Operating Officer of Apollo Investment Corporation from its inception in February 2004 through February 2006 and served as President and Chief Operating Officer of that company from February 2006 through November 2006. Mr. Penn was formerly a Managing Partner of Apollo Value Fund L.P. (formerly Apollo Distressed Investment Fund, L.P.) from 2003 through November 2006. Mr. Penn previously served as Global Head of Leveraged Finance at UBS Warburg LLC (now UBS Investment Bank) from 1999 through 2001. Prior to joining UBS Warburg, Mr. Penn was Global Head of Fixed Income Capital markets for BT Securities and BT Alex. Brown Inc. from 1994 to 1999. From 1992 to 1994, Mr. Penn served as Head of High-Yield Capital Markets at Lehman Brothers. He holds a BS and an MBA from The Wharton School, University of Pennsylvania.
John Anderson is an international counsel in the London office, and a member of the Funds/Investment Management and Private Equity Groups. He advises clients in all aspects of fund formation, including with Luxembourg and non-European fund structures, most notably for senior and subordinated credit fund strategies. He also regularly advises on separate account arrangements, including for EU institutional clients with complex regulatory and tax issues. Mr. Anderson is recommended by The Legal 500 UK (2021).
Mr. Anderson started his career at Debevoise, spending 14 years in the firm’s New York and London offices. He then spent six years as General Counsel at a leading private debt manager before rejoining Debevoise in London.
Mr. Anderson received his B.A. with honors in Rhetoric from the University of California at Berkeley in 1996 and his J.D. from Yale Law School in 2000. He is admitted to the bar in New York and is a member of the American Bar Association and the New York State Bar Association.