Rosemarie Thurston, Jason Goode and Tod Sawicki participated in this conference sponsored by Information Management Network (IMN). Rosemarie Thurston served as conference chairperson and moderated the session "Non-Traded REIT CEO/President Panel: Industry Evolution or Revolution? Where are We Headed? Where Are the Upcoming Opportunities? What Will Be the Winning Strategies?" The presentation addressed the following questions.
FINRA RN 14-06: Industry Armageddon or an opportunity? How are you responding? Are you/will you develop multi-class deals? What should product structures look like in this evolving regulatory climate? Will Daily NAV products have a distinct advantage? How will distribution strategies change? Will upfront fees be lowered/eliminated? What can product sponsors do during the implementation period of current offerings with FINRA RN 14-06 coming down the pipe? * 2014: Another record-breaking year ahead? What were the drivers behind the industry’s lofty 2013 capital raising figures? Are they sustainable? * Recently we have seen sponsors either withdraw from the market or merge/list with few new market entrants to replace them: What are the implications of this market concentration for the industry? Considering recent capital raising results, why aren’t more sponsors entering the market? Will we see new players anytime soon? If so, is it now the domain of institutional players only? * Broker/Dealer consolidation: Where is the wholesale market ultimately headed? Will the industry continue its shift to a few wholesale Broker/Dealers selling multiple sponsors’ products on the same platform? What are the implications of this? * Where do you see the industry in 12-18 months’ time? What will be the biggest challenges? Opportunities?
Jason was a featured panelist during the session "The Times Are A-Changing”: Assessing the Investment Potential of Different Alternative Products for Prospective Sponsors In An Evolving Regulatory Climate." With the regulatory landscape drastically changing and as industries continue to evolve and mature, the ‘rules of the game’ have changed for different alternative investment products. In this session we compare and contrast the opportunities that such products offer and set the scene for more in-depth discussions over the course of this event. In doing so we examine which structures are attracting the greatest capital flows; performance/return expectations; market saturation; market entry considerations; key product structures and strategies; investor base profiles; registration, reporting & accounting considerations; distribution; due diligence considerations; compliance issues; debt/equity financing options; exit strategies; and key regulatory & tax considerations. We will focus on the following products:
- Non-Traded REITs
- Non-Traded BDCs
- ’40 Act Interval Funds
- Private Placements
- Energy/Oil & Gas
- MLPs
- 1031 Exchanges
Tod was a panelist for the session "E&O Insurance Carriers & their Coverage of Non-Traded REITs/Alternative Investments: The Good, the Bad and the Ugly."
The IMN symposium is designed to meet the information needs of established, new and prospective non-traded REITs, serving the growing number of broker/dealers that sell, or that are considering selling, the product.
Alston & Bird was a sponsor of the event.
June 26-27, 2014
New York Marriott Downtown / New York, NY