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Next Boston QWAFAFEW Meeting: Dec 15, 2020 7:00 PM

December 15, 2020 @ 7:00 pm - 8:00 pm

| Free

Boston QWAFAFEW – December 15 2020, 7:00 PM ET

Constructing Private Equity Benchmarks

With the evolution of private assets from an exotic experiment to sought-after driver of yield and return in institutional portfolios, serious challenges emerged to appropriately review and forecast benchmark relative performance. The main difficulty relates to the fact that unlike publicly traded investment the values and returns reported by private asset investment managers are very subjective, making it difficult to perform the usual benchmark construction process where one can rely on a particular investment or a combination of investments to be an appropriate and unbiased gauge for the relative performance of another investment. We will make an overview of the attempts made by the industry to operate in the face of this challenge. Consequently, we will describe four approaches that, with some modifications, overcome the shortfalls of pre-existing methodology, and have distinct applications in the institutional investment process. Those methods can be categorized as the private-to-private returns, private-to-public-plus-margin returns, public-discounted-paid-in multiples, and liability-relative benchmarking.

Emilian Belev has led the research and development of Northfield’s Enterprise Risk Analytics at Northfield for about two decades. He is responsible for an integrated framework of multi-asset class analysis. The range of modelled assets under his responsibility includes equity, fixed income, currency, interest rate, and credit derivatives, structured products, directly owned real estate, private equity, and infrastructure. He has introduced innovative methodologies in the areas of convertible bond analytics, pricing path dependency, credit risk analysis, and optimal investing in infrastructure, commercial real estate, and private equity. Emilian has presented on some of these topics at industry events internationally and published research in peer reviewed journals and book chapters.

Time
Dec 15, 2020 07:00 PM in Eastern Time (US and Canada)

Time: 7:00 PM sharpe
Registration is required. Register in advance for this meeting here:

https://us02web.zoom.us/meeting/register/tZcrdemprDMpEtKs20MI2qOICnpjW5gfSuqG

After registering, you will receive a confirmation email containing information about joining the meeting.

This event will be streamed on Zoom and recorded and made available on YouTube.  By registering you consent to this.

Boston QWAFAFEW Mailing List:

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Steerage Committee:
Hugh Crowther
Dan diBartolomeo
Mike Dunn
Steve Gaudette
Sri Krishnamurthy
Mark Kritzman
John Minahan
Donna Cool Murphy
Larry Pohlman
Dan Potter
Dan Rie
Evan Schulman
Michael Schwartzman
Michael Wilcox

The members of the Steerage Committee are responsible for coordinating the program content.

Program suggestions from members are always welcome.

Details

Date:
December 15, 2020
Time:
7:00 pm - 8:00 pm
Cost:
Free

Venue

ZOOM & YouTube

Organizer

Hugh
Email:
hugh@QWAFAFEW.org