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Jenner & Block Partner Catherine L. Steege recently moderated a panel which explored the challenges caused by untested capital structures and non-traditional lenders at the sixth annual University of Chicago Graduate School of Business Beecken Petty O’Keefe & Company Private Equity Conference. More than 325 members of the Private Equity community, alumni and University of Chicago Graduate School of Business students attended the conference. Jenner & Block was also a Platinum sponsor of the event.
Ms. Steege, a member of the Firm’s Bankruptcy, Workout and Corporate Reorganization Practice, identified three mains areas of focus for the discussion which included; the influence of hedge funds; issues arising from the growth of second lien financing and the influx of claims; and the ways in which restructuring transactions and bankruptcy are changing and how debtors, investors and creditors are dealing with these issues.
Other topics of discussion included the changes in the market as capital becomes less available, claims trading, due diligence methodology, and the impact of such changes on unsecured creditors, among other things. The speakers also answered questions and provided advice to the graduate students on how to succeed in each of their industries.
Panelists included Andrew Tumbull, Director, Houlihan Lokey Howard & Zukin; Sara Lipsomb, Principal and Founder of Sara D. Lipscomb Consulting; Lewis Schoenwetter, Managing Director, H.I.G. Capital; and Josh Davis, Director, Laminar Direct Capital.