Amanda Hindlian

How are institutional and individual investors' portfolios evolving and integrating private markets? Our partners at Northleaf joined Nasdaq TradeTalks to explain. https://ow.ly/IRpI30sESzg

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This month marks the 17th anniversary of our John Hancock MLK Scholars Program, and we’re excited to welcome another outstanding group of 22 young Boston-area adults into the program. Participants, 16-18 years old, will spend their summer with us tackling meaningful job experiences right here in our corporate offices and in other community-based organizations in the city.    Since its inception in 2008, our MLK Scholars Program has invested more than $16 million to provide 6,000 young adults with meaningful job experiences. One of the primary goals of the program is to level the playing field for young people who don’t have equal access to the work experiences and networks that are key to building long-term skills, self-confidence, and financial empowerment.    The program provides guidance on career readiness and financial literacy to help participants grow as leaders in the office, the classroom, and the greater community. The program also benefits local nonprofit organizations that employ MLK Scholars, providing them with an opportunity to engage Boston’s diverse student population in potential career paths in their industries – with some students even returning as college interns and full-time hires after college.    As we welcome another group of outstanding students this year, I can’t help but think of a quote from our program’s namesake, who once said, “the function of education is to teach one to think intensively and to think critically. Intelligence plus character – that is the goal of true education.”    I couldn’t have said it better myself.

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Delighted to share our thoughts on recent M&A trends impacting continuation fund SPAs with Secondaries Investor. Delphine Jaugey Laurence Hanesworth Aaron McPherson Greg Norman #secondaries #secondary #secondarymarket #alternativeassets #continuationfunds #liquiditysolutions

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Dive into the evolving landscape of private credit with PIMCO's latest quarterly update to discover why we see better value in asset-based lending than private corporate lending today. #PrivateCredit #alternatives

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How are institutional and individual investors' portfolios evolving and integrating private markets? Our partners at Northleaf joined Nasdaq TradeTalks to explain. https://ow.ly/xRLr30sETef

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PIMCO experts Jerome Schneider and John Nersesian hosted “Meet the Manager: The Cost of Cash: Talking to Clients about their Cash Allocation” at Morninstar. Their insightful #MICUS discussion touched on many timely topics, including: · Why with today’s higher yields, cash-heavy investors may be missing out on opportunity. · How to seek liquidity for your clients by tiering their cash allocations. · How ultra-short-term bond strategies may help clients tap into higher yields and price appreciation. If you’re interested in learning more about cash tiering, or how to deploy cash to help maximize today’s higher yields, let me know.

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What impact will politics have on global markets this year? Nearly half of the global population will have the opportunity to elect new leaders, ranging from Mexico's recent shift towards progressive reforms under Claudia Sheinbaum to November’s contentious election in America. In this episode of Forstrong’s 5 Minute Macro, join myself and host John Teskey to discuss: - Political events often create buying opportunities - The strength and durability of the current global recovery - Why positioning portfolios with a pro-cyclical bias will be rewarded #ForstrongInsights Watch the full video: https://lnkd.in/gViU4t9Q

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Bain & Company’s latest PE review sheds interesting - and critical – light on the current refinancing hurdles faced by portfolio companies. Their suggestion to echo strategies from the aftermath of the 2008-2009 financial crisis points to the need for proactive measures to navigate current challenges, like a 66% drop in exit values. Spreading the report via the Financial Times: https://lnkd.in/er77Q75b Toby Nangle #PrivateEquity #PortfolioCompanies #GlobalEconomy

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Despite market volatility, we're seeing signals of a resurgence in the exit environment for private equity. Year-to-date, global IPOs have generated nearly $40 billion in proceeds, with a significant uptick in the number of companies and sponsors accessing liquidity in the public markets. In both the U.S. and EMEA, new listing volumes have doubled from the same period last year. In the US, we've observed the completion of three IPOs of $1 billion or more, with each significantly oversubscribed and trading well above their issue prices. Similarly, EMEA has seen a flurry of sizable public offerings, with many deals raising more than $2 billion and delivering strong performance since listing. With a keen eye on market movements, we're poised to capture opportunities that align with our clients' goals and maximize returns in the ever-evolving landscape of private equity and capital markets. #IPOs #CapitalMarkets #PrivateMarkets #PrivateEquity #Secondaries #CorporateRelationships #BlackRock

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The @@International Monetary Fund's annual spring conference was punctuated by global geopolitical and economic threats. In this episode of TCW Investment Perspectives, @Brett Rowley and Blaise Antin reveal the key takeaways from the meetings, discussing what’s facing investors with @Anisha Goodly as we head to the midway point of 2024. https://tcwgrp.com/m9kzc8

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CLO Equity has gained recognition as an institutional investment strategy in recent years. And with good reason. CLO Equity is relatively uncorrelated to other core asset classes and offers the potential for high cash flow and attractive total returns. The drivers of CLO Equity returns, however, are more complex than meets the eye. Conventional wisdom is that the best times to issue CLOs is when the arbitrage (“arb”), or net interest margin, is historically wide. Yet, our analysis, detailed in a recently issued white paper authored by my colleague Stephanie Walsh, suggests this sentiment might be misleading. Despite high initial equity arbitrage being a strong predictor of new CLO creation, it has actually shown a negative correlation with ultimate CLO equity performance. So what are the drivers of CLO Equity performance? To answer this question, it’s essential to look beyond just the arb. We find there are other key influences on CLO performance, such as asset prices, refinancing transactions, and manager expertise, among others. 1) CLOs issued during market downturns, such as in 2020 and 2022, exhibited significant upside, despite poor initial arbitrage, due to subsequent market rallies. 2) Moreover, the ability for CLOs to refinance liabilities after non-call periods added flexibility and, in many cases, substantially lowered debt costs, as seen in the refinancing wave of 2021. 3) Manager expertise also plays a crucial role. We’re privileged to have a 23+ year track record of managing, structuring, trading, and investing in CLOs. Through that experience, we’ve come to understand that credit expertise, loss avoidance, and trading acumen are often key components of CLO portfolio returns. As with many aspects of investing, there is more than meets the eye when assessing the CLO space in our view. We believe one cannot simply look at one or two metrics to determine whether a CLO will perform better or worse relative to history or other CLOs. The arb, and its weak correlation to ultimate CLO equity returns, is a prime example of this. Rather, there are a multitude of factors driving CLO equity returns, some market driven, and others influenced by manager performance and deal structuring. We believe it is important for investors to understand all of these factors when evaluating CLOs and CLO managers. Explore our full thoughts: https://lnkd.in/e48bEvWN

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Interesting article from Douglas Appell in Pensions & Investments about the post-ZIRP, “higher for longer” interest rate environment that boils down to advocating for the pursuit of satisfactory investment outcomes that are relevant to asset owners’ actual spending needs and goals, rather than continuing the historically common practice – and expected future folly – of tethering one’s equity beta to that of an equity benchmark whose performance from today’s elevated levels is widely expected to be sluggish and insufficient to fund minimum liabilities (ie: payout rates, actuarial hurdles, spending goals, etc.).   Quoting the inimitable Ben Phillips, “In that world, the relevant benchmark becomes the client’s required cash flows.”   Fresh perspectives and new ideas are warranted. Satisfactory outcomes not benchmarks.

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Great discussion. Heather Conforto Beatty’s point at the very end of the discussion a good one: Institutional allocators typically don’t have “a spot” for climate solutions. When it’s not an asset class, (and therefore lack of advisors/gatekeepers who specialize), makes it more challenging to commit, especially in public equities. #sustainableinvesting #climatesolutions

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Robert DiNozzi of Second Wind Consultants and Michael Petrecca of Rise Alliance meet with Michael A. Toglia, publisher of ABL Advisor to discuss how the two companies have united to form Rise Alliance and its unique go-to-market strategy in the distressed debt/commercial finance industry. Watch the full video interview here: https://lnkd.in/e5qZmWKN Gerard Celmer #assetbasedlending #commercialfinance #corporatefinance #distressedlending #distresseddebt #termloan #bank #banking #turnaroundmanagement #privatedebt #privateequity #privatecredit #finance #lending #bankruptcy

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