Event Profile

CAIA Pennsylvania and CFA Philadelphia - Private Markets: Do Interim Valuations Matter?

April 20, 2023
All times listed are in local time
Cyto Phl
100 Four Falls Corporate Center Suite104
Coshohocken, PA 19528 
Free Event
CAIA Pennsylvania & CFA Philadelphia present
Private Markets: Do Interim Valuations Matter?
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.
Time & Date:
Thursday, April 20, 2023
5:30 PM - 7:30 PM ET 
100 Four Falls Corporate Center, Suite 104
Conshohocken, PA 19528 

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Cyto Phl
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Michel Degosciu
Organization: LPX AG

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.

Bill Kelly
Organization: CAIA Association

Bill Kelly, CAIA, is the President & CEO of the CAIA Association. Bill has been a frequent industry speaker, writer, and commentator on alternative investment topics around the world since taking the leadership role at the CAIA Association in January, 2014. Previously, Bill was the CEO of Boston Partners and one of seven founding partners of the predecessor firm, Boston Partners Asset Management which, prior to a majority interest being sold to Robeco Group in Rotterdam in 2002, was an employee-owned firm. Bill’s career in the institutional asset management space spans over 30 years where he gained extensive managerial experience through successive CFO, COO and CEO roles. In addition to his current role, Bill is a tireless advocate for shareholder protection and investor education and is currently the Chairman and lead independent director for the Boston Partners Trust Company. He has previously served as an independent director and audit committee chair for ’40 Act Mutual Funds and other financial services firms. He is also currently an Advisory Board Member of the Certified Investment Fund Director Institute which strives to bring the highest levels of professionalism and governance to independent fund directors around the world. A member of the board of the CAIA Association, Bill also represents CAIA in similar capacities via their global partnerships with other associations and global regulators. Bill began his career as an accountant with PwC and is a designated Audit Committee Financial Expert in accordance with SEC rules.

Daniel Ottensoser
Organization: CIM Group

Daniel Ottensoser serves as a Managing Director, Portfolio Oversight at CIM Group®. In this capacity, he oversees portfolio construction and asset allocation for CIM Real Estate Finance Trust, Inc. (CMFT) including handling first mortgage and mezzanine loans on real estate assets, single-tenant credit lease assets, broadly syndicated corporate loans and CMBS securities. Prior to joining CIM, Mr. Ottensoser was a Partner and Managing Director at H/2 Capital Partners, an institutional investment manager where he oversaw direct lending. His experience also includes roles as a Managing Director at Goldman, Sachs & Co. and as a real estate attorney at Willkie Farr & Gallagher. Mr. Ottensoser graduated with 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
Organization: Mill Creek Capital Advisors

Nora Pickens, CAIA, 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
Organization: Starwood Capital Group

Phil Shankweiler, CAIA, CFA, 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.