This webcast will be our first in the RIA Institute’s “Why Now?” series. Given the current economic environment and volatile markets, we will be hosting a series of webinars to discuss why RIAs should be looking at specific strategies/asset classes, and more importantly how they can fit into their clients’ portfolios to generate returns.
Private credit offers distinct advantages and appeal in the current economic environment, but RIAs should be aware that behind the name is a diverse array of strategies, some more familiar than others, each with distinctive risks and rewards. The diverse strategies that fall under private credit can be implemented with different orientations, preferences, and biases, complicating comparisons and requiring thorough and expert due- diligence. This webinar will describe the broad array of private credit strategies and position them along the risk/return spectrum, review the investment process, discuss expectations for the performance of these strategies in various parts of the economic cycle, highlight some key risks to consider, and finally how these strategies fit in your client’s portfolios.
Director of Manager Research
Bel Air Investment Advisors
Carl joined Bel Air in 2012 and serves as the Investment Committee Chairman and Director of Manager Research. He is responsible for the investment research process, managing the investment team, and idea generation. Carl oversees the external manager platform including equities, fixed income, credit, and alternative investments. He is also responsible for risk management and client education across asset classes.
Prior to joining Bel Air, Carl was an Associate Director at Pacific Alternative Asset Management Company where he was responsible for hedge fund research and manager selection in the US and Europe. In addition, he managed customized portfolio solutions for institutional clients, advised pension funds on hedge fund investments, and
published market strategy viewpoints. Prior to joining PAAMCO, he worked in investment banking for Credit Suisse and Merrill Lynch in London.
Carl received his MBA from UCLA Anderson with a focus on Finance and his BS in Foreign Service with a concentration in International Economics from Georgetown University. He holds the Chartered Financial Analyst (CFA) designation and Certificate in Quantitative Finance (CQF). Carl has been published in Pensions & Investments and has been quoted in the Financial Times, Financial News, and CNBC.com on alternative investments and credit. He also mentors students through the fellowship program at the UCLA Anderson Fink Center for Finance.
President and CEO
Churchill Asset Management - an affiliate of Nuveen
Ken serves as president and CEO of Churchill Asset Management, an affiliate of Nuveen. Throughout his career in the investment industry he has accrued a broad range of experience in leading middle market businesses.
Previously, Ken served as president and a director of Carlyle GMS Finance (Carlyle’s publicly traded business development company). Prior to that he founded and was president and CEO of Churchill Financial, served as head of leveraged finance for Royal Bank of Canada and was head of Indosuez Capital, a leading middle market merchant banking and asset management business. Ken also helped to found the high yield finance business at both Chase Securities (now JP Morgan) and SBC Warburg (now UBS).
Ken graduated with a B.S., magna cum laude, in Business Administration from Georgetown University and a J.D. from Northwestern University School of Law. He serves on the Pension Investment Advisory Committee for the Archdiocese of New York, the Board of Trustees of Canisius High School and the Advisory Board of Teach for America (Connecticut). Ken is a guest lecturer at Boston University Questrom School of Business and a former member of the Board of Advisors and Adjunct Professor at the McDonough School of Business at Georgetown University
Brownson Rehmus & Foxworth
Cosmin is a member of BRF’s Real Estate, Private Equity and Credit, Public Markets, Knowledge Management, Impact Investing, and Investment Strategy Committees. As a member of the research department, Cosmin helps in designing and implementing the company’s investment strategies as well as identifying investment managers.
Prior to joining BRF, Cosmin was at the Federal Reserve Bank of Chicago. In his time there he worked on several projects, including co-authoring a study with senior economists that was presented at the Federal Reserve’s annual Bank Structure Conference and subsequently published in the Journal of Financial Services Research.
Cosmin received his MBA from the University of Chicago Booth School of Business and his BA in Economics and Political Science from Northwestern University. He holds the Chartered Financial Analyst® designation. Cosmin is a Board member for the UL Boys and Girls Club, where he served on the executive committee and was the President of the Associate Board. He is also a Board member for the Chicago Engineers’ Foundation and the CFA Society of Chicago. Cosmin has also served on various committees for The Logos School of Music, Northwestern University, and the Union League Club of Chicago.
Partner and Head of Business Development and Strategy
GoldenTree Asset Management
Kathy Sutherland is a Partner and Head of Business Development and Strategy at GoldenTree Asset Management. In addition, Ms. Sutherland is a member of GoldenTree’s Executive Committee. Ms. Sutherland oversees the firm’s global Business Development effort located in New York, London and Singapore. Prior to joining GoldenTree, Ms. Sutherland was a Managing Director at JP Morgan where she was responsible for Fund and Structured Product Distribution across the Americas, Europe, the Middle East, and Asia from 2005 to 2008. During that period, JPMorgan became recognized as a leading Fund and Structured Product franchise, advising many of the most important asset managers and investors globally. In her 12 years at JP Morgan, Ms. Sutherland held several management positions across Portfolio Management, Structured Credit and High Yield including Senior US CLO Structurer, Co-Head of European Secondary Loan Trading, Head of High Yield Credit Derivatives Marketing, and Global Head of Structured Syndicate. Ms. Sutherland graduated from the University of Virginia with a B.A. in Chemistry and specialization in Biochemistry.