Event Profile

CAIA SoCal presents The Science of Liquid Wrappers for Illiquid Assets

July 27, 2021
All times listed are in local time
Free Event
CAIA SoCal presents
The Science of Liquid Wrappers for Illiquid Assets

Please join CAIA SoCal for a discussion with a panel of experts on how to wrap illiquid investments in semi-liquid wrappers in order to provide access to investment options that are normally only accessible to institutional investors with large balance sheets and long time horizons. The panel will discuss wrappers that include Interval Funds and Auction Funds and touch upon the pros and cons of investment vehicles that have a liquidity mismatch with the underlying investment as well as investor expectations and for whom these investment opportunities may be best suited.

Our panel of experts includes:
-Tom Bratkovich (moderator), Senior Vice President, Wilshire
-David Levine, Principal, Groom Law Group
-Miguel Sosa, Research Strategist & Product Specialist, Bluerock
-Stacie Yates, Investment Management & New Solutions Development Lead, Macquarie Asset Management

Time & Date
Tuesday, July 27, 2021
1:00 PM - 2:00 PM PT

Zoom Webinar

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Tom Bratkovich
Organization: Wilshire

Tom Bratkovich has nearly 20 years of experience in private equity as a general partner, limited partner, and advisor. He is currently Senior Vice President at Wilshire Associates Private Markets Group, focused on new product launch, capital formation, and business development. In prior roles, Mr. Bratkovich has served as a strategic advisor to numerous lower mid-market GPs in the areas of capital formation, new fund launch, partnerships/JVs, sourcing, and business growth. He was an advisor to the PE/RE programs of CalPERS, New York Common, and CalSTRS, and prior worked as a venture capitalist for many years. Early in his career, he worked as an aerospace engineer developing advanced rocket engines and planetary landers. He holds an MBA from Harvard Business School with Distinction, and Aerospace Engineering degrees from MIT and UCLA.

David Levine
Organization: Groom Law Group

David Levine is co-chair of the firm’s employer-focused practice. He advises plan sponsors, advisors, and other service providers on a wide range of employee benefits matters, from retirement and executive compensation to health and welfare plan matters. David advises on the design and redesign of complex retirement, executive, and health and welfare plans; ongoing, day-to-day counseling of plan sponsors; in-depth compliance reviews of corporate and governmental benefit programs; products and compliance for retirement and health service providers, and representation of tax-exempt organizations with respect to issues involving corporate governance, executive compensation, and unrelated business income tax liability. David was previously the Chair of the IRS Advisory Committee on Tax Exempt and Government Entities (2011-2013) and is currently a member of the Executive Committee of the Defined Contribution Institutional Investment Association and serves in a number of leadership roles in the American Bar Association Tax Section’s Employee Benefits Committee. Mr. Levine regularly speaks on plan design, fiduciary governance, and legislative issues and contributes a recurring column to NAPA Net — The Magazine. He is recognized in the Chambers USA guide for Employee Benefits & Executive Compensation.

Miguel Sosa
Organization: Bluerock

Miguel Sosa is Research Strategist and Product Specialist at Bluerock. Miguel focuses on Bluerock’s Total Income Fund and works alongside the portfolio management team to specifically support client-centric initiatives. This includes acting as the research team representative to clients by presenting to and providing updates to the firm’s largest clients, and introducing investment strategies to prospective clients. Additionally, Miguel works with senior management and portfolio teams to author institutional research pieces on topics such as alternative products, optimal asset allocation, and proper portfolio construction. Prior to joining Bluerock, Miguel worked at Artivest (formerly Altegris) where he held a role as a Portfolio Strategist. Previously, Miguel spent six years as a Hedge Fund Portfolio Specialist at Wellington Management. Prior to Wellington, Miguel worked at Fidelity Investments and as a Systems Engineer at Raytheon Company. Miguel has a dual M.B.A. and MS in Engineering from the Massachusetts Institute of Technology and a BS in Industrial & Systems Engineering (cum laude) from University of San Diego.

Stacie Yates
Organization: Macquarie Asset Management

Stacie Yates, has more than 20 years of alternative investment experience in structuring alternative investment vehicles and legal, compliance, and regulatory issues from both the business and legal perspective. As part of the newly formed Alternatives to Wholesale at Macquarie Asset Management, Stacie is responsible for identifying and/or building Macquarie investment product for the mass affluent/high net worth market. Prior to joining Macquarie, Stacie was the head of investment product structuring at Artivest. While at Artivest, Stacie was a senior member of the firm and responsible for all aspects of investment product development for the organization and its clients. In addition, she oversaw the RFP and operational due diligence process. Prior to joining Artivest, Stacie spent more than five years at UBS Wealth Management, where she moved to the business side as an executive director of product development and management. Prior to UBS Wealth Management she was General Counsel and CCO at Proctor Investment Management and internal counsel for the Hedge Fund Investment Group at Credit Suisse. Stacie started her legal career at Kramer Levin Naftalis & Frankel as part of their financial services team. Stacie has a J.D. from Benjamin N. Cardozo School of Law, an M.A. from Fordham University and a B.A from Trinity University in Washington DC.