Suburban Special Event: Private Markets: Do Interim Valuations Matter?

When:  Apr 20, 2023 from 05:30 PM to 07:30 PM (ET)
Associated with  CFA Society Philadelphia

Co-produced with CAIA PA and CAIA Association

We have reached maximum capacity at the venue.  E-mail [email protected] to be placed on a waiting list.

A combination of a significant rise in private market allocations in institutional portfolios and democratized access in retail portfolios has led to renewed interest in understanding how these assets are valued. Look no further than the disconnect of public and private markets in 2022 when public markets marked down while private markets remained steady.

Which camp has it right? Does it even matter? Importantly, how should allocators think about illiquidity in the context of a diversified portfolio?

Join us as CAIA Association’s CEO, Bill Kelly, CAIA, leads a panel discussion covering this topic within equities, credit, and real estate.

Our panelists:

Michel Degosciu, Managing Director, LPX Group

Michel Degosciu is managing partner of LPX AG. He co-founded LPX in 2004 and is responsible for Business Development. Prior to LPX, Michel conducted various studies on the private equity asset class at the Department of Finance, University of Basel. He holds a master degree with a major in Corporate Finance from WHU Otto Beisheim School of Management and a PhD from University of Basel.

Dan Ottensoser, Managing Director, Portfolio Oversight, CIM Group

Daniel Ottensoser is a Managing Director in the Portfolio Oversight Group. He is responsible for overseeing portfolio construction and asset allocation for CIM Real Estate Finance Trust, Inc. (CMFT) including originating and acquiring mortgage and mezzanine loans on real estate assets, single-tenant credit lease assets, broadly syndicated corporate loans, CMBS securities and structured credit. Prior to joining CIM, Mr. Ottensoser was a Partner and Managing Director at H/2 Capital Partners. He earned a Bachelor of Arts degree from The City University of New York, Queens College and a Juris Doctor degree from the Columbia University School of Law.

Nora Pickens, CAIA, Mill Creek Capital

Nora serves as Managing Director of Investments at Mill Creek Capital Advisors, LLC. She has primary responsibility for evaluating fixed income and alternative credit strategies across MCCA’s investment programs. Prior to joining MCCA in 2017, Nora was Director at FS Investments, where she helped launch focused investment programs and conducted investment research. Prior to FS, Nora was a Credit Analyst at Standard & Poor’s with primary research coverage of the energy sector. She previously held various analyst positions at Bear Stearns and Goldman Sachs.    

Phil Shankweiler, CFA, CAIA, Head of RIA & Institutional, Starwood

Phil Shankweiler is a Senior Vice President at Starwood Capital, LLC. serving as the Head of the RIA and Institutional Client Relationship Team for Starwood Real Estate Income Trust.

Prior to joining Starwood, Phil spent over 15 years with Hartford Funds where he held a variety of senior positions within Business Management and Client Relationship Functions. In his most recent work at Hartford, Phil was responsible for overseeing the Firm’s Client Relationships with National RIAs, Family Office, and Bank Trust organizations.

Phil has a B.S. in Finance, an MBA from Villanova University, is a charter holder of both the CFA and CAIA designations, as well as a Certified Financial Planner. He is currently a member of the CFA Society of Philadelphia and an Executive member of the CAIA Pennsylvania chapter. Phil and his wife Samantha as well their 3 young children reside in West Chester Pennsylvania. 


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