The Capital Roundtable – Audio Packages
Third Annual SBICs MasterClass™
The New Realities...Operating Your
SBIC in Today's Environment
Designed to Meet the Needs of all SBIC Investment Professionals; Managers
Considering Forming Debenture SBICs; Investors; Investment Bankers;
CEO's; and Professional Advisors
Puchase
MasterClass™ Audio Package ($495.00)
After Listening to This MasterClass™, You'll Know:
- Where The SBIC Program is Heading
- The Operating Rules of the Road
- How to Structure Buyouts
- Permissible Fees Your Management Company May Charge
- Do's and Dont's of "Foreign" Investing
- In's and Out's of Mixing Debentures with Participating Securities
- Avoiding Regulatory "Gotcha's"
- Future Prospects for Equity Investing
- Sources of Leverage for Existing Participating Securities SBIC
- State of the Art LLC Investing Techniques
- Successful Strategies to Manage a Troubled SBIC
- Whether the SBIC program is right for you
Faculty
Chaired By
- Michael B. Staebler, the Dean of SBIC Law & Partner, Pepper Hamilton LLP
Hosted By
- Burt Alimansky, Managing Director, Alimansky Capital Group Inc., & Chairman, The Capital Roundtable
Speakers Include
- Joan C. Arnold, Partner, Pepper Hamilton LLP
- Julia D. Corelli, Partner, Pepper Hamilton LLP
- Robert A. Fish, Managing Partner, PricewaterhouseCoopers LLP
- Kirk B. Griswold, Argosy Investment Partners LP
- Fara Shimek Karam, Associate, Pepper Hamilton LLP
- Lee Mercer, President, National Association of SBICs
- Lawrence Mondschein, Managing Director, CRA Funding LLC
- Walter Peterson, former senior SBA official
- Arthur A. Spivey, Chief of the Investment Division's Licensing Unit, SBA
- Jeffrey Stern, Managing Director, Forum Capital Securities LLC
- Judith S. Werner, Controller, MidMark Capital
Agenda
In the summer of 2003, SBA announced that potential losses incurred by Participating Securities SBICs were of such magnitude that the Government needed to re-price the basis on which SBA made such equity-like financing available to SBICs, effective with the fiscal year beginning October 1, 2004.
SBA has followed up with proposals that the SBIC industry and leading institutional investors consider unworkable. October 1, 2004 has come and gone, and no new plan is in sight, but the "old program" went out with a bang. SBA committed the full $4 billion of participating securities that Congress had authorized to 29 new licensees and approximately 75 previously licensed funds. So more than 150 equity-oriented SBICs have significant funds to invest. However, many older SBICs have commitments that expire in a year or two. And the new Licensees may only draw on their commitments prior to September 30, 2008.
At the same time, SBA leaders have indicated that debt oriented SBICs (mezzanine funds and other lenders) are healthy, and that SBA would be delighted to license new funds that use SBA financing in the form of Debentures.
At this MasterClass™ you'll hear both the big picture about what's going on at SBA, as well as the state-of-the-art, nitty-gritty details of operating successfully.