IPEM LP Congress: More Think Tank than Shark Tank
IPEM LP Congress: More Think Tank than Shark Tank – IPEM Paris 2025 will be the defining destination for Limited Partners looking to sharpen their perspective on the evolving private…
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Winning the Long Game
Navigating a world marked by short-term shocks, geopolitical turbulence, and economic uncertainty, private capital stands apart as the ultimate long-term investment strategy. Resilience, discipline, and adaptability define the private markets’ approach to value creation. From enduring macro shifts to embracing innovation across areas like private credit, infrastructure, and AI – staying focused on the horizon is more critical than ever.
At IPEM Paris 2025 (Palais des Congrès, Sept. 24-26), under the theme “Winning the Long Game”, industry leaders will convene to explore how private markets leaders stay disciplines and keep their eye on the ultimate prize all while seizing any hiccups and disruptions along the way as opportunities.
Already registered for IPEM Paris 2025?
IPEM Paris 2025 Program
Access to Westin Vendôme and Tuileries Marquee Tents for booth set-up only (no meeting possible)
LP Congress
Join the brand-new IPEM LP Congress wich stands as the premier LP-driven event in the private markets landscape, offering a powerful and advanced forum built by Allocators for Allocators. This visionary gathering goes beyond a single day, inviting you to join an exclusive, year-round community of thought leaders.
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Download IPEM Paris 2025 Sessions Program
LP Congress | Welcome to the LP Congress
09:00 AM / 09:10 AM - Plenary Room
09:00 AM / 09:10 AM - Plenary Room
An overview of the day ahead and objectives for the program.
| Speaker(s): |
| - Antoine COLSON - CEO | IPEM |
LP Congress | PE in times of Economic Policy Uncertainty – what to expect
09:10 AM / 09:30 AM - Plenary Room
09:10 AM / 09:30 AM - Plenary Room
Based on a large scale empirical study, we document the link between Economic Policy Uncertainty and PE returns. This allows us to show that we have to expect further delays in exit activity and downward pressure on returns for deals currently in the portfolio. Contrary to what one would expect, current high levels of EPU might not necessarily lead to lower returns and higher duration for deals done “today”, but instead may create opportunities for deals with high returns and shorter duration. Returns will depend (to an even greater) extent on the skill of the GP, as there seems to be a stable skill that some GPs possess (and others do not) to handle Policy Uncertainty well / take advantage of opportunities created by Policy Uncertainty.
| Speaker(s): |
| - Oliver GOTTSCHALG - CEO | GOTTSCHALG ANALYTICS |
LP Congress | Investing in a new geopolitical reality
09:30 AM / 10:00 AM - Plenary Room
09:30 AM / 10:00 AM - Plenary Room
Over 4 billion people went to the polls last year. Private markets investors were told it was a year of “wait and see”, as deals, fundraising and IPOs were put on ice. Fast forward to 2025 and the US election result has had a similar effect on markets. With so much about America’s new role in the world still unclear, should we accept the world is entering a permanent “wait and see” mode?
- How do you take long-term investment decisions in a relentless state of breaking news?
- Can you embed both conviction and agility in asset allocation and portfolio construction?
- What impact does geopolitics really have - and are private markets really better at trading through the volatility?
| Speaker(s): |
| - Ju Hui LEE - Chief, Investment Risk and Performance | UNITED NATIONS JOINT STAFF PENSION FUND |
| - Elena MANOLA BONTHOND - Head of Investments | CERN PENSION FUND |
| Moderator(s): |
| - John BOWMAN - CEO | CAIA ASSOCIATION |
LP Congress | Evolving distribution models - a permanent shift or temporary hiatus?
10:00 AM / 10:30 AM - Plenary Room
10:00 AM / 10:30 AM - Plenary Room
At no time in history have private equity distributions been this low, for this long. Whilst continuation vehicles, NAV finance and evergreen funds are all playing their part to pick up some of the slack, are these more permanent fixtures in a new distribution model?
| Speaker(s): |
| - Michael ELIO - Partner | STEPSTONE GROUP |
LP Congress | Has performance persisted?
10:30 AM / 10:50 AM - Plenary Room
10:30 AM / 10:50 AM - Plenary Room
It’s three years since rising interest rates marked a new chapter for private markets. This research will examine the returns profile across private asset classes and strategies - and consider the outlook.
| Speaker(s): |
| - Gregory BROWN - Professor & Research Director | INSTITUTE FOR PRIVATE CAPITAL |
LP Congress | Have we already reached “peak private equity”?
10:50 AM / 11:20 AM - Plenary Room
10:50 AM / 11:20 AM - Plenary Room
Institutional investors seem to have reached some limits in terms of allocation to private equity. Regulated entities have threshold to comply with. Denominator effects have to be handled more proactively when allocations are teetering with limits.
- Is traditional approach still fit-for-purpose?
- Should LPs take a different approach?
- Where does this journey end?
| Speaker(s): |
| - Michael BUTLER - Alternatives investment director | MERCER |
| - Ludovic SUBRAN - Chief Investment Officer and Chief Economist | ALLIANZ SE |
LP Congress | What’s worth negotiating in the LPA
11:30 AM / 12:00 PM - Plenary Room
11:30 AM / 12:00 PM - Plenary Room
Whilst fund terms are crucial to get right, their standards continue to evolve.
- What is worth prioritising (and what’s not), what are the trends and where should negotiation efforts be focussed?
- Where is the balance of power in the LP-GP relationship currently?
- What points do LPs see a crucial in ensuring alignment? Discuss how negotiations on these points have gone.
| Speaker(s): |
| - Diego ALAIMO - Head of Multi-Asset - Indirect Private Strategies | GENERALI ASSET MANAGEMENT |
| - Rémi BERTELOOT - Managing Director - Head of Small Cap Funds Investments | BPIFRANCE |
| Moderator(s): |
| - Brian DIGNEY - Research and Content Director | STANDARDS BOARD FOR ALTERNATIVE INVESTMENTS |
LP Congress | Manager Search & Selection (Part 1)
11:30 AM / 12:30 PM - Breakout Room 1
11:30 AM / 12:30 PM - Breakout Room 1
The GP universe is larger than it has ever been, and is continually expanding. In tandem, competition to get into sought-after funds is fierce, as capital constrained LPs look to prioritise the few commitments they can make. This session will explore best practices, including some of the new technologies that can support decision-making.
Sessions
- Research (30mins): A in-depth presentation looking at the topic. 15mins presentation + 15mins Q&A
- “Our journey” (30mins): An LP shares how they approach the topic, including challenges and success stories that others can learn from. 15mins presentation + 15mins Q&A
| Speaker(s): |
| - Sofie KULP-TAG - Senior Investment Manager - Private Equity | SKANDIA LIFE INSURANCE COMPANY |
| Moderator(s): |
| - Michael Olivier WEINBERG - Special Advisor | TOKYO UNIVERSITY OF SCIENCE ENDOWMENT |
LP Congress | Liquidity Toolkit (Part 1)
11:30 AM / 12:30 PM - Breakout Room 2
11:30 AM / 12:30 PM - Breakout Room 2
As distributions faltered, innovation in the secondaries market has been a saving grace for DPI. The market looks set to grow, driven by paralysed exit markets and growth of continuation vehicles. These sessions consider how LPs should think about the various parts of their liquidity tookit.
Sessions
- Research (30mins): A in-depth presentation looking at the topic. 15mins presentation + 15mins Q&A
- “Our journey” (30mins): An LP shares how they approach the topic, including challenges and success stories that others can learn from. 15mins presentation + 15mins Q&A
| Speaker(s): |
| - Wadih MANNEH - Head of Private Markets | ARAB BANK (SWITZERLAND) LTD |
| - Yann ROBARD - Managing Partner | DAWSON |
| Moderator(s): |
| - Bart VAN DIJK - Managing Director, Head of Europe | ILPA |
LP Congress | Governance (Part 1)
11:30 AM / 12:30 PM - Breakout Room 3
11:30 AM / 12:30 PM - Breakout Room 3
Enhancing alignment of interests between GPs and LPs remains a hotly debated topic, with concerns over erosion of fiduciary duty and increasing conflicts of interest frequently cited. These sessions go deeper into how LPs can successfully navigate these discussions to ensure positive manager relationships.
Sessions
- Research (30mins): A in-depth presentation looking at the topic. 15mins presentation + 15mins Q&A
- “Our journey” (30mins): An LP shares how they approach the topic, including challenges and success stories that others can learn from. 15mins presentation + 15mins Q&A
| Speaker(s): |
| - Alistair MACKENZIE - Investment Professional | GOODBODY CAPITAL PARTNERS |
| Moderator(s): |
| - Laura MERLINI - Managing Director, EMEA | CAIA ASSOCIATION |
LP Congress | Is collective bargaining a reality?
12:00 PM / 12:30 PM - Plenary Room
12:00 PM / 12:30 PM - Plenary Room
Traditional LPACs offer limited opportunities to consult with other investors in the same fund. In the absence of an official forum, how can LPs build consensus on key issues?
A panel of LPs consider how they could use their bargaining power both individually and as a group.
- Co-invest rights
- Economics and GP commitments
- Recycling practices that benefit LPs
| Speaker(s): |
| - Anne-Camille DE FROISSARD - Senior Investment Director | PEUGEOT INVEST |
| - Mikkel WINCKLER - CIO | ADVANTAGE INVESTMENT PARTNERS |
LP Congress | Retail vs. institutional - testing the limits of co-mingled capital
02:00 PM / 02:30 PM - Plenary Room
02:00 PM / 02:30 PM - Plenary Room
The rise of private wealth as a source of capital could be teeing up a new wave of conflicts between LPs and GPs. What are the considerations when retail capital is invested alongside institutional capital within the same fund?
| Moderator(s): |
| - Jennifer CHOI - CEO | ILPA |
| - Joel SANDHU - Managing Partner | TOP TIER ACCESS |
LP Congress | Manager Search & Selection (Part 2)
02:00 PM / 03:00 PM - Breakout Room 1
02:00 PM / 03:00 PM - Breakout Room 1
Case study
A theoretical scenario is put to the room by the facilitator, with roundtable discussions between participants on what approach they’d take. 15mins presentation + 30mins discussion + 15mins feedback..
| Speaker(s): |
| - John HOLLOWAY - Senior Advisor | CALISTA DIRECT INVESTORS S.A.S. |
LP Congress | Liquidity Toolkit (Part 2)
02:00 PM / 03:00 PM - Breakout Room 2
02:00 PM / 03:00 PM - Breakout Room 2
Case study
A theoretical scenario is put to the room by the facilitator, with roundtable discussions between participants on what approach they’d take. 15mins presentation + 30mins discussion + 15mins feedback.
| Speaker(s): |
| - Aritz HERRERA - Head of Asset & Investment Management | ZURICH INSURANCE COMPANY |
LP Congress | Governance (Part 2)
02:00 PM / 03:00 PM - Breakout Room 3
02:00 PM / 03:00 PM - Breakout Room 3
Case study
A theoretical scenario is put to the room by the facilitator, with roundtable discussions between participants on what approach they’d take. 15mins presentation + 30mins discussion + 15mins feedback.
| Speaker(s): |
| - Ju Hui LEE - Chief, Investment Risk and Performance | UNITED NATIONS JOINT STAFF PENSION FUND |
| Moderator(s): |
| - Laura MERLINI - Managing Director, EMEA | CAIA ASSOCIATION |
LP Congress | What public-private convergence means for asset allocation
02:30 PM / 03:00 PM - Plenary Room
02:30 PM / 03:00 PM - Plenary Room
Private markets' assets under management have grown at a CAGR of ca. 15% since 2000. The result is an expansion of investment strategies that provide deeper pools of equity and debt capital which may have traditionally come from public markets. In tandem, the industry has embarked on a journey towards more liquid structures, blurring the lines between the traditional 60/40 approach to asset allocation.
- Will private markets replace listed ones as the central place of financial markets and economies?
- Given the increased space taken by private markets in asset allocations, does it still make sense to separate public and private?
- If yes, why? If not, how to integrate these two worlds into a comprehensive asset allocation?
| Speaker(s): |
| - Raluca JOCHMANN - Managing Director, Head of Private Markets Solutions | ALLIANZ GLOBAL INVESTORS |
| - Scott PITTMAN - Senior Vice President/Chief Investment Officer | MOUNT SINAI HOSPITAL |
LP Congress | Practicalities of secondaries in mid-life funds
03:15 PM / 03:45 PM - Plenary Room
03:15 PM / 03:45 PM - Plenary Room
Description tbc
| Speaker(s): |
| - David WACHTER - Managing Partner | W CAPITAL PARTNERS |
LP Congress | Measuring the Alpha of Private Fund Managers – A Global League Table
03:15 PM / 03:45 PM - Breakout Room 1
03:15 PM / 03:45 PM - Breakout Room 1
In this session, we will unveil the first-ever global league table of private fund managers ranked by alpha performance. Leveraging a robust methodology and data-driven research, this analysis offers a transparent and standardised comparison of fund and manager performance, shedding light on true value creation in private markets.
Key highlights:
- Take a look at the methodology where we will explain how we calculate total alpha using the infra300 index to isolate a fund’s true performance after accounting for risk.
- Discover the largest alpha-generating fund in each vintage year and its manager.
- See which managers with more than three funds in their track record rank highest by median alpha.
- Find out which managers consistently generate alpha across multiple funds and vintages.
- Learn how these rankings help LPs make informed investment decisions and allow GPs to demonstrate their competitive edge.
| Speaker(s): |
| - Abhishek GUPTA - Head of Business and Product | SCIENTIFIC INFRA & PRIVATE ASSETS LTD |
LP Congress | Breakout topic tbc
03:15 PM / 03:45 PM - Breakout Room 2
03:15 PM / 03:45 PM - Breakout Room 2
Presentation/ Case Study
LP Congress | Making sense of the expanding private credit asset class
03:15 PM / 03:45 PM - Breakout Room 3
03:15 PM / 03:45 PM - Breakout Room 3
Presentation/ case study with Q&A
| Speaker(s): |
| - Amit BAHRI - Partner in Private Credit and co-head of the European Direct Lending business | GOLDMAN SACHS ALTERNATIVES |
LP Congress | Breakout topic tbc
03:45 PM / 04:15 PM - Breakout Room 2
03:45 PM / 04:15 PM - Breakout Room 2
presentation/ case study
LP Congress | Breakout topic tbc
03:45 PM / 04:15 PM - Breakout Room 3
03:45 PM / 04:15 PM - Breakout Room 3
presentation/ case study
LP Congress | Infra / Climate
03:45 PM / 04:15 PM - Breakout Room 1
03:45 PM / 04:15 PM - Breakout Room 1
presentation/ case study
| Speaker(s): |
| - Ralf KOOKEN - Portfolio Manager Infrastructure | ASR NEDERLAND |
LP Congress | Friend or foe - how to evaluate NAV financing of private capital funds
03:45 PM / 04:15 PM - Plenary Room
03:45 PM / 04:15 PM - Plenary Room
Although not new, NAV financing is gaining traction in a market for slow distributions. What factors should LPs be considering when a GP plans to use this type of financing? How does it change the risk profile of the portfolio? When is the strategy an attractive private debt investment?
LP Congress | The big summary
04:30 PM / 05:00 PM - Plenary Room
04:30 PM / 05:00 PM - Plenary Room
“LP Clubs”
| Speaker(s): |
| - Philipp PATSCHKOWSKI - Managing Director | NEUBERGER BERMAN |
| - Viviane TING - Partner, Head of CIO Office | AMUNDI ALTERNATIVE AND REAL ASSETS |
| - Bart VAN DIJK - Managing Director, Head of Europe | ILPA |
LP Congress | Closing Remarks
05:00 PM / 05:15 PM - Plenary Room
05:00 PM / 05:15 PM - Plenary Room
Key takeaways from the day.
Social Events
Participate in dynamic and easy-going events at the Palais des Congrès, in the heart of the French capital.
Download IPEM Paris 2025 Social Events Program
Opening Reception
07:00 PM / 10:00 PM - Parc des Princes
07:00 PM / 10:00 PM - Parc des Princes
Join us for the official Opening Reception of IPEM Paris 2025, at one of Paris' most iconic venues, the Parc des Princes!
Venue: Parc des Princes
Door L, 23 rue du Commandant Guilbaud, 75016 Paris
How do I get there from the Palais des Congrès?
There will be a free shuttles service to Parc des Princes (limited seats), from 6 PM to 8 PM. The shuttle service meeting point will be at the entrance of Hyatt Regency Paris Étoile. To access both the shuttles and the Opening Reception, you will need to present your color-printed pass!
Conferences
Join the high-profile speakers taking the stage this year, and learn more about the new trends emerging that will over time become the foundations on which future sustainable growth is realized.
Download IPEM Paris 2025 Conferences Program
Welcome Remarks
09:30 AM / 09:45 AM - Conference Room
09:30 AM / 09:45 AM - Conference Room
Welcome Remarks by IPEM CEO, Antoine Colson
| Speaker(s): |
| - Antoine COLSON - CEO | IPEM |
Chair’s Remarks
09:45 AM / 10:00 AM - Conference Room
09:45 AM / 10:00 AM - Conference Room
Chair’s Remarks
| Speaker(s): |
| - Bridget WALSH - Partner | EY |
Winning the long game
10:00 AM / 10:30 AM - Conference Room
10:00 AM / 10:30 AM - Conference Room
As private markets mature, they face a paradox of growth: increased efficiency and competition may lead to higher valuations and potentially lower returns. This evolution prompts a critical examination of the sector's future direction, including the sustainability of its growth trajectory and the strategies fund managers might employ to navigate these challenges. How does the industry position itself for success?
Is private the new public?
10:30 AM / 11:00 AM - Conference Room
10:30 AM / 11:00 AM - Conference Room
In the next decade, as private markets continue to mature, public and private markets will converge. The effects will be profound on wealth creation, the size of the investable universe and how companies raise capital. We sit down with a leading figure in asset management to make sense of the consequences - discussing the outlook for traditional and alternative assets, the trajectory for retailisation and what it means for the asset management industry going forward.
| Speaker(s): |
| - Valerie BAUDSON - Chief Executive Officer of Amundi, Member of Executive Committee of Crédit Agricole | AMUNDI ALTERNATIVE AND REAL ASSETS |
Fireside Chat
11:00 AM / 11:30 AM - Conference Room
11:00 AM / 11:30 AM - Conference Room
with Blackstone
| Speaker(s): |
| - Lionel ASSANT - Global Co-Chief Investment Officer | BLACKSTONE |
| Moderator(s): |
| - Arash MASSOUDI - Finance and Markets Editor | FINANCIAL TIMES |
Easy come, easy go? How conviction trumps geopolitics
11:30 AM / 12:00 PM - Conference Room
11:30 AM / 12:00 PM - Conference Room
Macro uncertainty is shining a new light on Europe as an attractive destination to raise and deploy capital. However, investment hold periods outlast election cycles - and macro conditions can change quickly. To help investors make sense of the enduring effects on both the appeal of the US and Europe, this session explores what scenarios investors need to consider.
| Speaker(s): |
| - Christophe BAVIÈRE - Co-Chief Executive Officer | EURAZEO |
| - Justin MUZINICH - Chief Executive Officer | MUZINICH & CO |
| Moderator(s): |
| - Swetha GOPINATH - Private Equity Reporter | BLOOMBERG NEWS - LONDRES |
Now or never - how sovereignty is defining a new era of investment
12:00 PM / 12:30 PM - Conference Room
12:00 PM / 12:30 PM - Conference Room
Reindustrialisation and resilience have been eternal topics for the European economy. But war in Ukraine and US policy shifts are a catalyst that cannot be ignored. As governments ramp up the rhetoric around defence, energy and digitalisation, what is the opportunity for private capital investors?
| Speaker(s): |
| - Nicolas DUFOURCQ - CEO | BPIFRANCE |
| - Dominic RAAB - Head of Global Affairs | APPIAN CAPITAL ADVISORY |
Are private markets facing a middle-age crisis?
02:00 PM / 02:30 PM - Conference Room
02:00 PM / 02:30 PM - Conference Room
The first venture capital deal was done after the second world war. The first LBO in the 1960s. As private markets grow, they gain in efficiency. Information flows more readily, is richer, produced more often, which reduces market imperfections and risks. Sourcing of deals is more competitive, as there is not only more capital but also more actors. Valuations tend to increase. As a consequence, returns are expected to decrease over the mid-term. Is this a worry for fund managers and fund investors? If not, how do they analyse the impact of the fast growth and increasing maturity of private markets? If yes, how do fund managers plan to address this trend?
| Speaker(s): |
| - Thibault BASQUIN - Member of the Executive Committee, Executive Board Member of Ardian US LLC, Executive Board Member of Ardian France, Co-Head & CIO of Buyout | ARDIAN |
| - Benoît DURTESTE - CEO & CIO | ICG |
| - Anthony TUTRONE - Global Head of NB Alternatives & Managing Director | NEUBERGER BERMAN |
| Moderator(s): |
| - Carmela MENDOZA - Senior Reporter | PEI GROUP |
Finding value in global private equity
02:30 PM / 03:00 PM - Conference Room
02:30 PM / 03:00 PM - Conference Room
Private equity is at an inflection point. The new realities facing investors today may require another look at regional opportunities between the US and Europe. From internationalisation towards regional blocks, restrictions on trade flows and commerce, as well as recurring constraints on M&A might require some further adaptation. How may buyout platforms navigate these significant changes?
| Speaker(s): |
| - Roberto QUAGLIUOLO - Deputy Head of Private Equity | TIKEHAU CAPITAL |
| - Robert SEMINARA - Senior Partner, Head of Europe & Head of European PE | APOLLO |
| - Brian W. BERNASEK - Co-Head of Americas Private Equity | CARLYLE GROUP |
| Moderator(s): |
| - Lucinda GUTHRIE - Executive Editor | ION GROUP |
What a big, beautiful repricing of risk means for portfolios
03:00 PM / 03:30 PM - Conference Room
03:00 PM / 03:30 PM - Conference Room
As Trump’s tax bill passed through Congress, investors began to vote with their feet. Tariffs and concerns over the debt ceiling prompted the start of a rotation away from US assets. How should private markets investors navigate this new period of risk? What premium are they placing on risk assets? What’s the net impact of tariffs on portfolios? How do firms ensure agility in risk management practices during such a period?
| Speaker(s): |
| - Matthias BOYER-CHAMMARD - Managing Director | BAIN CAPITAL |
| - David MIHALICK - Co-Head of Global Investments | BARINGS |
| Moderator(s): |
| - Alexandra HEAL - Private Capital Reporter | FINANCIAL TIMES |
Where next for private markets?
03:30 PM / 04:00 PM - Conference Room
03:30 PM / 04:00 PM - Conference Room
Private markets have a knack for reinventing themselves. As they gather an ever-increasingly large amount of assets under management, there is a risk of banalisation. How is the industry addressing it? What are the main trends underpinning future growth? How is this industry changing?
| Speaker(s): |
| - Laurent MIGNON - Group CEO | WENDEL GROUP |
| - Andrew OLINICK - Head of Private Equity | MACQUARIE ASSET MANAGEMENT |
| - Sophie PATURLE - GUESNEROT - Chair of France Invest | DEMETER IM |
| Moderator(s): |
| - Sophie JAVARY - Vice Chairman CIB EMEA | BNP PARIBAS |
Making the grade - how private debt is wooing a new class of borrowers
04:00 PM / 04:30 PM - Conference Room
04:00 PM / 04:30 PM - Conference Room
Private debt continues its steady progress to win market share from traditional sources of finance - next stop, investment grade credit. However, the natural affinity that aided debt funds domination of sponsor-backed deals may not be so easy with blue-chip corporates. Why and how are funds stealing a march? How do debt funds measure up against capital markets syndication on depth, speed and terms?
| Speaker(s): |
| - Ken KENCEL - President & CEO | CHURCHILL ASSET MANAGEMENT |
| - Rory O’NEILL - Managing Partner, Executive Chair | CASTLELAKE |
| - Bruce RICHARDS - Chief Executive Officer, Chairman and Co-Founder | MARATHON ASSET MANAGEMENT |
| Moderator(s): |
| - Sayed KADIRI - European managing editor | 9FIN |
Exits, interrupted
04:30 PM / 05:00 PM - Conference Room
04:30 PM / 05:00 PM - Conference Room
2025 was billed as the year that the exit market finally picked up. More stable interest rate outlook and rising equity markets looked set to boost both secondary buyout and IPO activity. Then geopolitics took over, spiking volatilty and shuttering deal markets. Where do we stand now? How are firms adapting their exit horizons? Does a more volatile market risk the ability of PE to complete exits?
| Speaker(s): |
| - Carolina ESPINAL DE CARULLA - Managing director | HARBOURVEST PARTNERS |
| - Christian LUCAS - Managing Partner | SILVER LAKE |
| - Raymond SVIDER - Partner & Chairman - Executive Committee | BC PARTNERS |
| Moderator(s): |
| - Anne HIEBLER - Global Head of M&A | CREDIT AGRICOLE CIB |
Architects of the future
05:00 PM / 05:30 PM - Conference Room
05:00 PM / 05:30 PM - Conference Room
If you had the chance to throw out the rulebook and design a new private markets firm that’s built for a new era of investing, what would it look like?
| Speaker(s): |
| - Marcus BRENNECKE - Partner | EQT PARTNERS |
| - Sheel TYLE - co-founder and co-CEO | COLLECTIVE GLOBAL |
| Moderator(s): |
| - Sebastian MCCARTHY - Editor of Private Equity News | DOW JONES |
Summary
05:30 PM / 05:45 PM - Conference Room
05:30 PM / 05:45 PM - Conference Room
Concluding remarks to summarise key takeaways.
| Speaker(s): |
| - Bridget WALSH - Partner | EY |
Summits
Enjoy IPEM’s practical and dynamic sessions on specific topics to go deeper and find solutions together. Take the opportunity to network with participants during lunches or cocktails at the end of each summit.
Download IPEM Paris 2025 Summits Program
Venture & Growth
10:00 AM / 12:50 PM – Summit Room 1
10:00 AM / 12:50 PM – Summit Room 1
10:00 AM - 10:30 AM / What do LPs want in European venture?
- How to stand out as a non-megafund manager in the fundraising market?
- Success story/stories from emerging managers
- Is sector specialism and operating expertise essential for emerging managers?
- What LPs are backing emerging VCs and what do they look for?
| Speaker(s): |
| - Birgit BRUECK - Senior Fund Manager | KFW CAPITAL |
| - Sion EVANS - Investment Director | VENCAP |
| - Thomas SCHNEIDER - Partner | ISOMER CAPITAL |
| - Jeroen VAN DOORNIK - Founder and Managing Partner | PACENOTES |
10:30 AM - 11:10 AM / FOMO, then slow-mo, now finding its mojo? Venture turns a corner.
- Has 2025 continued to head in the right direction?
- What does 2026 have in store?
- What will the lasting effects of the 2023 downturn be?
| Speaker(s): |
| - Salomé CAILLAT - Growth Investor | REVAIA |
| - Ludwig ENSTHALER - General Partner & Co-Founder | 468 CAPITAL |
| - Frederic HUYNEN - Partner | HPE GROWTH |
| - Karen MCCORMICK - CIO | BERINGEA |
| Moderator(s): |
| - Guillaume VITRICH - Partner | WHITE & CASE |
11:10 AM - 11:35 AM / In search of a better VC recipe
When the market fails to present the right opportunity, why not create the market yourself? This conversation will dig deeper into an innovative approach that uses blind pool funds to launch, build and scale investable companies from scratch. We ask about the ingredients, the recipe and whether the final dish is worth a taste.
| Speaker(s): |
| - Marc BHARGAVA - Managing Director | GENERAL CATALYST |
| - Patrick CHUN - Founder and Managing Partner | JUXTAPOSE VENTURES |
| - Ketevan LIPARTELIANI - Senior Investment Officer | INTERNATIONAL FINANCE CORPORATION (IFC) |
| Moderator(s): |
| - Joe BRIGGS - Managing Partner & Founder | BCF |
11:35 AM - 12:00 PM / Investing in the future of financial services
Transformation, consolidation and disintermediation - three big themes that continue to drive investment activity in the financial services space. Our speakers take a whistle-stop tour around the key sub-sectors that will generate dealflow in the coming year; insurance, wealth management, regtech and more.
| Speaker(s): |
| - Hugo BONGERS - Partner at Motive Ventures | MOTIVE PARTNERS |
| - Curt GUNSENHEIMER - Managing Partner | IRIS |
| Moderator(s): |
| - Emmie JONES - Partner | WHITE & CASE |
12:00 PM - 12:30 PM / What corporates can offer the VC landscape
If the future of venture is in partnerships, then corporate VCs may have a headstart. This session explores how they operate, what they gain from being part of industrial groups and what’s in it for third-party investors.
| Speaker(s): |
| - Terry DOYLE - Managing Partner | TELUS GLOBAL VENTURES |
| - Nicolas MILERIOUX - Head of Venture capital | ENCEVO |
| - Tamara STEFFENS - Managing Director | THOMSON REUTERS VENTURES |
12:30 PM - 12:50 PM / Why conventional sourcing is a risk to performance
It’s a well-known fact that diverse funds receive a fraction of the available capital in any given year. And yet these businesses are often some of the best performers. What’s wrong with conventional investment sourcing and diligence that’s missing these opportunities - and how would you redesign processes that see the whole market? Speakers will look at the topic from a venture and PE perspective.
| Speaker(s): |
| - Adam CHOPPIN - Asst. Portfolio Manager, Multi-Manager Strategies | XPONANCE |
| - Gulsah WILKE - Partner and Head of Germany | DN CAPITAL |
| Moderator(s): |
| - Pauline ROUX - Managing Partner | ELAIA |
Infra & Real Assets
09:45 AM / 5:00 PM – Summit Room 2
09:45 AM / 5:00 PM – Summit Room 2
09:45 AM - 10:15 AM / The big picture on infrastructure
Opening remarks providing context for today’s private infrastructure market.
| Speaker(s): |
| - Mathias BURGHARDT - Executive Vice-President, CEO of Ardian France and Head of Infrastructure | ARDIAN |
| - Nikolova PETYA - DCIO | NEW YORK CITY RETIREMENT SYSTEM |
| Moderator(s): |
| - Talya MISIRI - Senior Reporter | ION GROUP |
10:15 AM - 10:45 AM / Is infrastructure still infrastructure? What ownership of the asset class means in today’s market
Infrastructure investing has come a long way since the privatisations of the late 1980s and the secondary trades of the 1990s and 2000s. But some worry that the classical definition of a captured and reliable revenue stream has been stretched too far. In the new context of today’s more challenging markets, is it a natural progression as the asset class matures; or does the definition require an update?
| Speaker(s): |
| - Wandy HOH - Head of Secondaries and Co-investments | MACQUARIE ASSET MANAGEMENT |
| - Esther PEINER - Partner, Head Private Infrastructure | PARTNERS GROUP |
| - Sikander RASHID - Head of Europe, Brookfield Asset Management and Head of Europe, Brookfield Infrastructure Group | BROOKFIELD |
| Moderator(s): |
| - Julien BAUDINAUD - Partner | ACCURACY |
10:45 AM - 11:15 AM / The LP view: What infrastructure investing means in 2025
Infrastructure strategies have stolen the thunder of other private markets assets, continuing to attract LP capital thanks to strong tailwinds. Whilst primary allocations may be slowing as the asset class matures, secondaries are on the rise. LPs have the opportunity to adapt new approaches against the backdrop of a difficult market and capricious political environment.
| Speaker(s): |
| - Marta PEREZ - Head of Infrastructure | ALLIANZ GLOBAL INVESTORS |
| - Maria SURINA - Managing Director, Real Assets | CAMBRIDGE ASSOCIATES |
| - Dominik VONSCHEVEN - Managing Director, Infrastructure Investments | HAMILTON LANE |
| Moderator(s): |
| - Lukas ZEMAN - Managing Director | CAMPBELL LUTYENS |
11:15 AM - 11:30 AM / The big picture on infrastructure climate risk
Opening remarks that set the scene on how to understand climate risk in the infrastructure market of the future.
| Speaker(s): |
| - Rémy ESTRAN - Chief Executive Officer | SCIENTIFIC CLIMATE RATINGS |
11:30 AM - 12:10 PM / What does climate-aligned infrastructure investing look like?
Infrastructure includes some of the most significant sectors for transition and resilience goals, including energy, digital, public infrastructure and real estate. Therefore, what contribution towards meeting these goals can infrastructure make? From renewables to climate resilient assets, this panel will evaluate the role infrastructure investment will play in enabling a credible and material transition.
| Speaker(s): |
| - Corinne BACH - Co-CEO | CARBOMETRIX |
| - Stéphanie BÉGUÉ - Managing Partner | RGREEN INVEST |
| - Fabrice FRAIKIN - Managing Partner, Founder | FLEXAM |
| - Jean-François MARCO - Partner | TIIC |
| Moderator(s): |
| - Charles DE LA FERRIÈRE - Head of Infrastructure France | AON M&A AND TRANSACTION SOLUTIONS |
12:10 PM - 12:50 PM / Energy transition spotlight: the lucrative and rocky road to sustainable power
While the decisions of the Trump administration and European energy producers like BP and Shell may have stolen a few headlines, investment in energy transition assets is not only continuing but accelerating. Consultancy KPMG reported that 72% of the 1,400 international energy transition investors it interviewed shared this view with 52% investing in Europe. But would-be investors in the sector must also navigate a difficult mix of regulatory and policy risks if they are serious about being part of the transformation.
Energy transition experts deconstruct the myths and set out the realities of investing in the energy transition and discuss why it is a movement they cannot afford not to be a part of.
| Speaker(s): |
| - Scott GOSSELINK - Managing Director | GENERATE CAPITAL |
| - Alejandro LOPEZ-DELGADO - Managing Director, Infrastructure | CDPQ |
| - James MITTELL - Director, Energy Infrastructure | ACTIS |
| - Luis QUIROGA - Co-founder & Head of Investor Relations | ASPER INVESTMENT MANAGEMENT |
| Moderator(s): |
| - Peter KNELLER - Europe Editor, NEW PROJECT MEDIA | NEW PROJECT MEDIA (NPM) |
12:50 PM - 02:00 PM / Lunch
Lunch
02:00 PM - 02:20 PM / The big picture on infrastructure secondaries
The latest data and trends on investment activity.
| Speaker(s): |
| - Philippe CAMU - chairman and co-chief investment officer of Infrastructure Investing | GOLDMAN SACHS ALTERNATIVES |
02:20 PM - 03:00 PM / Debt financing
Panel Session
| Speaker(s): |
| - Mathilde KETOFF - Partner | RGREEN INVEST |
| - Marie MAZELIER - CIO | SCOR INVESTMENT PARTNERS |
| - Anna SKARBORG - Managing Director & Director of Sustainability | PCP |
03:00 PM - 03:40 PM / Digital: Managing the growing pains of the world’s newest critical infrastructure
If anyone still had doubts about the importance of digital infrastructure, they were quickly dispelled over the last twelve months by a slew of multi-billion dollar deals. The UK and the European Commission have also underlined the essential nature of datacentres and assets providing digital connectivity such as fibre optic and mobile networks, cloud and edge computing, internet exchange and network infrastructures.
But the sheer scale of digital infrastructure roll out and energy demand has presented unforeseen problems while some have question whether coverage has already reached saturation point in some markets, calling into question the long-term yield upside of some of these assets:
Digital infrastructure investors and sponsors debate the longer-term future of this maturing part of the asset class.
| Speaker(s): |
| - Manjari GOVADA - Managing Director, Investment Management | DIGITALBRIDGE |
| - Warren ROLL - Managing Director, Head of Digital Infrastructure | FENGATE CAPITAL MANAGEMENT |
| - Florent STIEL - Director, EMEA Structured Finance | S&P GLOBAL MARKET INTELLIGENCE |
| Moderator(s): |
| - Talya MISIRI - Senior Reporter | ION GROUP |
03:15 PM - 03:45 PM / Transport: How private capital will keep airports, rail and roads moving sustainably
Panel Session
While European governments continue to operate in financially straitened circumstances, the dash for growth has meant investment in transport and logistics should continue to buck the trend. Renationalisation of rail franchises has continued in the UK but a spike in rail investment is expected in Spain and bluer-sky projects such as the Starline High-Speed Network are being discussed. Meanwhile the continent’s airports are still attracting international investor interest. The EU is pressing ahead with its plan to prioritize stable and efficient transport through it Connecting Europe Facility and the UK is hoping to secure private funding for major projects like the £10bn Lower Thames Crossing.
Transport experts, investors, operators and policymakers discuss European government efforts to bring transport infrastructure up-to-date and ask what opportunities this could present infrastructure investors
03:40 PM - 04:20 PM / Transport: How private capital will keep airports, rail and roads moving sustainably
While European governments continue to operate in financially straitened circumstances, the dash for growth has meant investment in transport and logistics should continue to buck the trend. Renationalisation of rail franchises has continued in the UK but a spike in rail investment is expected in Spain and bluer-sky projects such as the Starline High-Speed Network are being discussed. Meanwhile the continent’s airports are still attracting international investor interest. The EU is pressing ahead with its plan to prioritize stable and efficient transport through it Connecting Europe Facility and the UK is hoping to secure private funding for major projects like the £10bn Lower Thames Crossing.
Transport experts, investors, operators and policymakers discuss European government efforts to bring transport infrastructure up-to-date and ask what opportunities this could present infrastructure investors
| Speaker(s): |
| - Gabriele DAMIANI - Head Infrastructure Core/Core+ | SWISS LIFE ASSET MANAGERS |
| - Gilles LENGAIGNE - Managing Partner, Head of Origination and Corporate Development | INFRANITY |
| - Amélie PETIT - Managing Director | STONEPEAK |
| Moderator(s): |
| - Laurence MOORE - Senior Banker Infrastructure Investors | CREDIT AGRICOLE CIB |
04:20 PM - 04:50 PM / Looking to the future: Infrastructure of the 2040s
Early investments in infrastructure have matured at a time when fiscal, geopolitical and technological developments are set to challenge and transform the very nature of the asset class. Investors and their advisors must therefore plan for what may well be an entirely different landscape of essential services which must be fit for new demands.
Senior infrastructure investors and their advisors discuss how they imagine the infrastructure landscape in two decades time and reveal their predictions for the challenges and opportunities of the second half of the 21st century
| Speaker(s): |
| - Sébastien LECAUDEY - Senior Partner | ANTIN INFRASTRUCTURE PARTNERS |
| - Boe PAHARI - Chairman | VE1 |
04:50 PM - 05:00 PM / Summary
Concluding remarks to summarise key takeaways from the sessions.
North America
10:00 AM / 12:00 PM – Summit Room 3
10:00 AM / 12:00 PM – Summit Room 3
10:00 AM - 10:40 AM / An outlook on the US economy
Against the volatile backdrop of US politics, investors looking at North America are seeking sophisticated hedging opportunities to mitigate risk in an increasingly uncertain environment. Concerns about the wide-sweeping tariffs and intensifying trade wars - and a possible recession as a consequence of the two – are heavy on investors’ minds. This session will explore:
- What will be the short / medium / long term impact of Trump’s tariffs and the resulting trade wars?
- What impact will growing national debt and deficit spending have on long-term fiscal sustainability?
- What strategies for hedging should investors use to mitigate the risk from the uncertain investment environment?
- Does the concept of “US exceptionalism” still hold true or must we prepare for more DeepSeek-style disruptors?
| Speaker(s): |
| - Chip BAIRD - Co-Founder and Managing Partner | GREYLION PARTNERS |
| - Michael HOLLANDER - Managing Director | GTCR |
| - Toni RINNEVAARA - Partner, Special Situations and Chief Investment Officer | AMERICAN INDUSTRIAL PARTNERS |
| - Pedro VAZ - Managing Director | CHARLESBANK CAPITAL PARTNERS |
| Moderator(s): |
| - Roberta BRZEZINSKI - Partner and Head of Americas Business Intelligence | CONTROL RISKS |
10:40 AM - 11:20 AM / US mid-market in focus
Despite the many challenges raising, the US mid-market remains a fertile hunting ground for investors. Aside from traditional industrials, transportation and healthcare, opportunities exist in megatrends like artificial intelligence and climate change. This session will explore:
- What impact will Trumps’ industrial policies, including deregulation and targeted initiatives aimed at relocating manufacturing back to US, have on the space?
- As a consequence, who will be the winner and losers?
- How are mid-market firms dealing with supply chain challenges?
- What impact with the increased usage of AI to grow productivity and enhance operations have on valuations?11.30 - 12.00
| Speaker(s): |
| - Alex ABELL - Managing Partner | RCP ADVISORS |
| - Nitin GUPTA - Managing Partner - Co-CIO | FLEXSTONE PARTNERS |
| - Nicholas MCGRANE - Co-Head of North American Private Equity | INVESTCORP |
| Moderator(s): |
| - John BOWMAN - CEO | CAIA ASSOCIATION |
11:20 AM - 12:00 PM / Building a MAGA portfolio
America is in the grips of Maganomics, an economic policy that prioritises wealth and prosperity for all. Whilst commentators take a cautious view over the strategy, investors are trying to establish how to back the winners from such an approach. This discussion will consider how the approach may be changing origination and value creation strategies, as well as what LPs can do to position themselves to mitigate risk and capitalise on US opportunities.
| Speaker(s): |
| - Dana CAREY - Chief Investment Officer – Credit, Chairman of the Investment Committee | MIDOCEAN PARTNERS |
| - Thibaud ROULIN - HEAD OF NORTH AMERICA | PICTET |
| Moderator(s): |
| - Roberta BRZEZINSKI - Partner and Head of Americas Business Intelligence | CONTROL RISKS |
Value Creation
10:00 Am / 5:00 PM – Summit Room 4
10:00 Am / 5:00 PM – Summit Room 4
09:45 AM - 10:15 AM / Value creation in a new era for private equity
Portfolio management is entering a new phase. Growth is hard won. Strategic execution is critical. For leading managers, multiple arbitrage was never a long-term value creation plan. This session gathers GPs with a deep reputation for operational excellence about how they view the road ahead.
| Speaker(s): |
| - Jim CARLISLE - Managing Director, Head of Technology & Business Solutions | THL |
| - Bjorn RUWALD - Partner, Head of Operational Support Group | BRIDGEPOINT |
| - Thierry TIMSIT - Managing Partner and Co-Founder | ASTORG |
10:15 AM - 10:35 AM / What a new AI paradigm looks like
Keynote Presentation
The rapid development of AI will make the impossible, possible…and sooner than you think. In this session, we hear about Anthropic’s vision of the future - and how it will redefine companies and growth.
10:35 AM - 11:15 AM / How Data for Finance and Decision-Making Fuels Innovation
Roundtables
At the foundation of digital transformation is a coherent data strategy. This session explores how PE firms develop the right capabilities to unlock innovation across their portfolio.
| Speaker(s): |
| - Rémi PESSEGUIER - Managing Director | SINGULIER |
11:15 AM - 11:55 AM / How does the advance of AI reshape companies, growth and returns?
What use cases are most impressive for AI within portfolio companies? How are firms building their aptitude with the technology? What does it mean for exit planning? How close are we to a one-person unicorn?
11:55 AM - 12:20 PM / Case Study
What use cases are most impressive for AI within portfolio companies? How are firms building their aptitude with the technology? What does it mean for exit planning? How close are we to a one-person unicorn?
12:20 PM - 01:00 PM / Sustainability
Agenda TBC
| Speaker(s): |
| - Elin LJUNG - Operating Partner, Head of Sustainability & Communications | NORDIC CAPITAL |
| - Charlotte SALMON - Partner | WEASTEM |
02:00 PM - 02:45 PM / Is technology transformation a risk worth taking?
Whilst core IT systems are the backbone of organisations, replacing or upgrading systems can be a tempting way to drive efficiency and scale. However, rolling out ERP systems can be high stakes. How do PE owners best support these major projects? What is best practice? Are the outcomes always as good as predicated?
02:00 PM - 02:15 PM /
Keynote session by Prince Pavlos of Greece
02:45 PM - 03:30 PM / How can portfolio companies optimise technology spend?
Software spend often represents one of the largest expense items for portfolio companies. How do CFOs get a holistic view on software requirements - then procure technology in an efficient and transparent way, at the best possible price?
| Speaker(s): |
| - Michelle KELLER-HOBSON - Director, Private Equity Business Development | VERTICE |
03:30 PM - 04:15 PM / How do you approach talent in an era of disruption and change?
Disruption and digital transformation are changing the landscape for recruiting and retaining workers. Sophisticated private equity owners are now taking a more strategic approach; building talent pipelines and placing greater emphasis on the factors that will differentiate companies in the future - notably leadership and culture. How are those firms doing it?
04:15 PM - 05:00 PM / Buy and build - are growth and buyout strategies converging?
Over the past five to seven years, LBO has increasingly focused on external growth through buy-and-build. Is this trend expected to continue? In parallel, multiple deals have targeted former VC deals, but also worked as active minority investors in deals in the luxury sector. Is this the future for LBO? Do we see a convergence between growth equity and LBO? If so, what are the consequences? Is LBO going to refocus more on growth-oriented transactions?
| Speaker(s): |
| - Nassim CHERCHALI - Managing Partner | ANACAP |
| - Karsten LANGER - Managing Partner | THE RIVERSIDE COMPANY |
| - Vincent PAUTET - Partner | CHARTERHOUSE CAPITAL PARTNERS |
Climate
2:15 PM / 4:40 PM – Summit Room 1
2:15 PM / 4:40 PM – Summit Room 1
02:15 PM - 02:30 PM / The big picture on climate
Freak weather events are taking a significant economic toll. Heatwaves, floods and drought shut down supply chains, damage infrastructure and upset the social fabric. The cost of the disruption is estimated at $122bn every year. If the economic risks are now too significant to ignore, what does this mean for “business as usual” private equity? Is the industry still climate-blind?
| Speaker(s): |
| - Nicholas BROOKS - Head of Economic and Investment Research, ICG | ICG |
02:30 PM - 03:00 PM / Does decarbonisation hang in the balance?
European GPs are global leaders in decarbonisation as a lever for value creation. However, less than half of US and Asian GPs report portfolio carbon emissions. What can international GPs learn from their European counterparts? What are some of the effects on investment performance where decarbonisation is non-core? What can LPs do to scrutinise efforts?
| Speaker(s): |
| - Ferdinand DALHUISEN - Managing Director, ODDO BHF Private Equity | ODDO BHF |
| - Tomas HVAMB - Managing Partner | HAVN CAPITAL |
| - Erik NOBEL - Managing Director | LEVINE LEICHTMAN CAPITAL PARTNERS |
03:00 PM - 03:40 PM / From VC to buyout and beyond: The next decade of scaling climate opportunities
Twenty years into the journey, climate investing has become a feature of the private capital landscape; from VCs financing innovative deeptech, to growth and buyout investors that fund proven technologies.
Representatives from across this spectrum are asked to address three questions in 7 min presentations + 2mins Q&A:
- Where is the growth going to come from?
- What is the single greatest challenge facing their investment thesis?
- What is the key enabler that will accelerate the trajectory?
| Speaker(s): |
| - Sylvain ECKERT - Partner, Critical Metals | INFRAVIA CAPITAL PARTNERS |
| - Sofia RAMIREZ - Principal | AGFUNDER |
| - Fabio RANGHINO - Partner and Head of Strategy & Sustainability | AMBIENTA |
| - Sakari SAARELA - Partner | UNITED BANKERS |
| Moderator(s): |
| - Emmanuel PARMENTIER - Founder and Managing Partner | WEASTEM |
03:40 PM - 04:10 PM / Continental rift: How global investors will take the lead, as US falls behind
The policy spasms emulating from the US are rewiring capital flows on green issues. Yet it creates space for a generation of global investors to step in and play a leading role. How do investors from the Middle East, Africa and Asia define their climate investing ambitions in this new geopolitical climate? In the absence of the US dominating the climate agenda, could this be a redefining moment for the sector, with investment in closer proximity to regional needs?
| Speaker(s): |
| - Anthony CATACHANAS - Founding Partner & Chief Executive Officer | TOWER PEAK PARTNERS |
| - Anne-Laurence ROUCHER - Head of Private Equity and Natural Capital | MIROVA |
| Moderator(s): |
| - Nadia KOUASSI - Head of Research | AVCA – AFRICAN PRIVATE CAPITAL ASSOCIATION |
04:10 PM - 04:40 PM / Selection by sustainability: Picking the managers of tomorrow
For all organisations, climate has evolved from a peripheral concern to a central consideration. For LPs, the managers and portfolio companies they invest in are no different. But is manager due diligence up to the challenge? Can standard selection processes be enhanced to identify those who are best setup to succeed in a VUCA world? What are the characteristics around incentives, investments and monitoring that indicate a futureproof GP?
| Speaker(s): |
| - Caroline BRUN ELLEFSEN - Head of Sustainability in Funds of Funds | BPIFRANCE |
| - Kelli FONTAINE - Partner | CENDANA CAPITAL |
| - Matteo SQUILLONI - Head of Climate Transition (private equity funds) | EIF - EUROPEAN INVESTMENT FUND |
| - Viviane TING - Partner, Head of CIO Office | AMUNDI ALTERNATIVE AND REAL ASSETS |
| Moderator(s): |
| - Emmanuel PARMENTIER - Founder and Managing Partner | WEASTEM |
Unigestion Emerging Managers
01:00 PM / 6:30 PM – Summit Room 3
01:00 PM / 6:30 PM – Summit Room 3
01:00 PM - 02:00 PM / Networking Lunch
Networking Lunch
02:00 PM - 02:05 PM / Welcome note
This summit is by invitation only. However, all LPs are welcome to attend. To reserve a spot, please contact ashling.barry@ipem-market.com
02:05 PM - 02:25 PM / 30 years of investing in emerging managers
Fireside Chat
This summit is by invitation only. However, all LPs are welcome to attend. To reserve a spot, please contact ashling.barry@ipem-market.com
| Moderator(s): |
| - Leon SINCLAIR - Managing Director | BLACKROCK |
02:25 PM - 02:45 PM / Latest Research insights on emerging managers
This summit is by invitation only. However, all LPs are welcome to attend. To reserve a spot, please contact ashling.barry@ipem-market.com
02:45 PM - 03:00 PM / Meet the GPs Session 1
3 x 5min pitching slots
This summit is by invitation only. However, all LPs are welcome to attend. To reserve a spot, please contact ashling.barry@ipem-market.com
03:00 PM - 03:40 PM / The role of emerging managers in a consolidating PE industry
Panel Session
This summit is by invitation only. However, all LPs are welcome to attend. To reserve a spot, please contact ashling.barry@ipem-market.com
03:40 PM - 04:10 PM / Networking Break
This summit is by invitation only. However, all LPs are welcome to attend. To reserve a spot, please contact ashling.barry@ipem-market.com
04:10 PM - 04:25 PM / From Emerging to established manager
This summit is by invitation only. However, all LPs are welcome to attend. To reserve a spot, please contact ashling.barry@ipem-market.com
04:25 PM - 04:40 PM / Meet the GP session 2
This summit is by invitation only. However, all LPs are welcome to attend. To reserve a spot, please contact ashling.barry@ipem-market.com
04:40 PM - 05:20 PM / Are Emerging Managers risky? Insights and due diligence hacks
Panel Discussion
This summit is by invitation only. However, all LPs are welcome to attend. To reserve a spot, please contact ashling.barry@ipem-market.com
| Moderator(s): |
| - Claire GUILBERT - Partner, Global Co-Head of Funds and Asset Management | NORTON ROSE FULBRIGHT |
05:20 PM - 05:35 PM / Meet the GP session 3
3 x 5min pitching slots
This summit is by invitation only. However, all LPs are welcome to attend. To reserve a spot, please contact ashling.barry@ipem-market.com
05:35 PM - 05:45 PM / Unigestion Emerging Manager Award
This summit is by invitation only. However, all LPs are welcome to attend. To reserve a spot, please contact ashling.barry@ipem-market.com
05:45 PM - 06:30 PM / Networking Drinks
This summit is by invitation only. However, all LPs are welcome to attend. To reserve a spot, please contact ashling.barry@ipem-market.com
Breakout Rooms
Breakout sessions give our clients & partners the opportunity to promote their expertise and services to the IPEM community.
Download IPEM Paris 2025 Breakout Rooms Program
StepStone Breakout Session
10:00 AM / 11:00 AM - Breakout Room 1
10:00 AM / 11:00 AM - Breakout Room 1
Portfolio Construction
FTI Consulting Breakout Session
10:00 AM / 11:00 AM - Breakout Room 2
10:00 AM / 11:00 AM - Breakout Room 2
Agenda TBC
Future of Private Markets: Navigating the Convergence of Crypto and Traditional Finance
11:30 AM / 12:30 PM - Breakout Room 1
11:30 AM / 12:30 PM - Breakout Room 1
by Cathay Innovation
The convergence of crypto and traditional finance is accelerating, bringing speed and efficiency to financial systems, and making them more accessible to people everywhere. . Today, blockchain-based platforms allow individuals to access and trade tokenized government bonds 24/7, send and receive payments instantly across borders, lend or borrow assets without intermediaries, and invest in products that offer transparent ownership tracking and automated earnings distribution.
As the boundaries between TradFi and DeFi continue to blur, understanding the implications becomes crucial for investors. Those who subscribe to this shift will be best positioned to lead the next wave of innovation in private markets.
This IPEM Breakout session is the opportunity to hear from leading banking and asset management institutions such as Goldman Sachs and Société Générale, embracing the possibilities offered by blockchain technologies to enhance infrastructures and processes, and bring the best products and services to customers. Drawing from the experience of the Cathay Ledger Fund, France’s first alternative fund dedicated to crypto, we will then discuss how to ride the tide of this exciting new era of finance as investors through a picks-and-shovels strategy.
Klee & B4Finance Breakout Session
02:00 PM / 03:00 PM - Breakout Room 1
02:00 PM / 03:00 PM - Breakout Room 1
Agenda TBC
From Vision to Capital: Dubai’s Role in Shaping What’s Next for Private Markets
03:30 PM / 04:30 PM - Breakout Room 2
03:30 PM / 04:30 PM - Breakout Room 2
What’s next for private capital?
This session explores Transformative Capital—long-term, purpose-driven investment fueling the sectors poised to redefine global growth. Visionary GPs, LPs, and thematic experts will highlight high-conviction opportunities in climate tech, deep tech, healthcare innovation, digital infrastructure, and global resilience.
With Dubai emerging as a global nexus for transformative capital—driven by visionary public-private initiatives, world-class infrastructure, and a bold commitment to future-forward sectors—the session will also examine how regional hubs like Dubai are influencing global capital flows and reshaping investment frameworks.
What are the signals? Where is capital flowing? And how can investors align performance with purpose in an accelerating world?
| Speaker(s): |
| - Salmaan JAFFERY - Chief Business Development Officer | DUBAI INTERNATIONAL FINANCIAL CENTRE (DIFC) |
Breakout Session by Logical Pictures
03:30 PM / 04:30 PM - Breakout Room 1
03:30 PM / 04:30 PM - Breakout Room 1
TBC
Social Events
Participate in dynamic and easy-going events at the Palais des Congrès, in the heart of the French capital.
Download IPEM Paris 2025 Social Events Program
Morning Boxing Class
07:00 AM / 08:20 AM -
07:00 AM / 08:20 AM -
Private Capital meets the boxing ring! Join IPEM and our official Wellness Partner Temple | Noble Art for an exclusive no-combat boxing lesson for all levels! With the guidance of a professional boxing champion, you'll learn the moves, hit a bag and enjoy an intense, tailor-made workout.
- No experience necessary: beginners welcome!
- 3 x 50-minute sessions starting at 7:10 AM, 7:20 AM, and 7:30 AM
- Limited groups for personalized coaching
- Fully privatized club for IPEM participants
- All you need to bring is your sportswear, boxing gloves will be provided
- Premium changing rooms: individual showers, lockers, towels and cosmetics.
- 1 minute walk from the IPEM Paris venue, the Palais des Congrès
Open to all IPEM Paris 2025 participants, registration required.
LP/GP First Timer Breakfast
08:00 AM / 09:00 AM - by invitation only, no public location disclosed
08:00 AM / 09:00 AM - by invitation only, no public location disclosed
An exclusive, invitation-only breakfast welcoming first-time LP and GP attendees. Connect in a relaxed setting with fellow newcomers before the day begins.
Location details will be shared privately with confirmed guests
Networking Drinks
06:00 PM / 07:30 PM - Palais des Congrès, NATIXIS IM Lounge (level 1)
06:00 PM / 07:30 PM - Palais des Congrès, NATIXIS IM Lounge (level 1)
Keep the conversation flowing after a busy day with a refreshing glass in hand
Official Dinner
07:30 PM / 10:00 PM - by invitation only, no public location disclosed
07:30 PM / 10:00 PM - by invitation only, no public location disclosed
An exclusive, invitation-only dinner bringing together IPEM attendees for an evening of networking and conversation in an intimate setting.
Location details will be shared privately with confirmed guests.
Parisian experience by night
09:30 PM / 11:59 PM - rue Princesse 75006 Paris
09:30 PM / 11:59 PM - rue Princesse 75006 Paris
Join all IPEM participants for a night our on the town, Paris style! We're heading to the charming neighborhood of Saint-Germain-des-Près in Paris' 6th arrondissement, where IPEM is taking over one of the locals' favorite streets rue Princesse. Join us for an evening of bar-hopping and networking.
Conferences
Join the high-profile speakers taking the stage this year, and learn more about the new trends emerging that will over time become the foundations on which future sustainable growth is realized.
Download IPEM Paris 2025 Conferences Program
Chair’s Remarks
09:15 AM / 09:30 AM - Conference Room
09:15 AM / 09:30 AM - Conference Room
Chair’s Remarks
Sustainability, risk and return
09:30 AM / 10:00 AM - Conference Room
09:30 AM / 10:00 AM - Conference Room
When it comes to fiduciary duty, it’s essential for investors to walk the walk on sustainability. PGGM is implementing a fully integrated philosophy based around financial returns, risk and sustainable impact. The aim is to give the investment manager a three-dimensional perspective on every investment in every asset class across its EUR250bn portfolio. In this presentation, Lars explains the reasons why, the strategy and lessons learned.
| Speaker(s): |
| - Lars DIJKSTRA - Chief Investment Officer (CIO) | PGGM |
How to build a private markets platform
10:00 AM / 10:30 AM - Conference Room
10:00 AM / 10:30 AM - Conference Room
Traditional asset managers continue to build out their private markets franchise at pace. Of the $72trn managed by the top 25 traditional asset managers, $4trn is now in private markets. Whilst some continue to hunt for deals, others are sticking to their roots - looking to increase access to private markets through low-cost products. What’s the outlook on M&A strategy? Can traditional managers be major market consolidators? What are the advantages to private alternatives of being part of a heritage brand in public markets? What’s the future role of private markets within the stable of the big players?
| Speaker(s): |
| - Emmanuel DEBLANC - Chief Investment Officer, Private Markets | M&G INVESTMENTS |
| - Isabelle SCEMAMA - Global Head of AXA IM Alts | AXA IM ALTS |
| Moderator(s): |
| - Selin BUCAK - Journalist & Editor | CITYWIRE |
How asset owners are mastering the art of the deal
10:30 AM / 11:10 AM - Conference Room
10:30 AM / 11:10 AM - Conference Room
Nowadays, everyone has a watchlist. LPs that have expanded into direct and co-investments have long built the internal skill sets to analyse deals. In a tough environment for funds, plus more single asset CVs, this expertise is being put to the test. Even for fund investors, deeper portfolio analysis of top performing companies is making it easier to build target lists for attractive co-investment opportunities. Is there such a thing as proprietary deal sourcing anymore? How can LPs partner with GPs on deals? What does value-adding origination look like in practice?
| Speaker(s): |
| - Alper DAGLIOGLU - Managing Partner and Head of Investment Solutions Group | BROOKFIELD |
| - Claire GAWER - Head of Fund Platform | BNP PARIBAS ASSET MANAGEMENT - PRIVATE ASSETS |
| - Albrecht VON ALVENSLEBEN - Managing Director, Private Equity, Europe | CDPQ |
Time to double down on co-investments?
11:10 AM / 11:40 AM - Conference Room
11:10 AM / 11:40 AM - Conference Room
Co-investments have often been presented as a means to bring down the cost of private market investing. But with dedicated resources, knowledge and expertise required, they weren’t open to all. Now, in the current market environment, they look more of a necessity; providing apast way for LPs to deepen GP partnerships and gain access to attractive dealflow. Have co-investments really addressed the cost issue? What about monitoring, transaction and other costs? How can co-investment be made easier to access for a wider range of investor?
| Speaker(s): |
| - Alvaro GONZALEZ RUIZ-JARABO - Head Private Equity | ANDBANK ACTYUS |
| - Marie PESTALOZZI - Co-Head Private Equity Investment Team | AMUNDI ALPHA ASSOCIATES |
| - Joana ROCHA SCAFF - Managing Director, Head of Europe Private Equity | NEUBERGER BERMAN |
| - Koen RONDA - Head of Private Markets Investments | IBS CAPITAL MANAGEMENT |
Secondaries - next stop the moon?
11:40 AM / 12:10 PM - Conference Room
11:40 AM / 12:10 PM - Conference Room
The secondary market is set to break more records, with volumes heading towards $200bn this year. It’s fast growth points towards the active trading of a large portion of fund stakes. Is there a scenario where secondary overtakes primary activity? Can the market evolve away from an intermediated (and expensive) market? At what point does that approach reach its limits and need of a revamp?
| Speaker(s): |
| - Gabriel MOLLERBERG - Managing director in the External Investing Group (XIG) | GOLDMAN SACHS ALTERNATIVES |
| - Verdun PERRY - Sr. Managing Director, Strategic Partners | BLACKSTONE GROUP |
| Moderator(s): |
| - Madeleine FARMAN - Editor, Secondaries Investor | PEI GROUP |
Trophy asset or booby prize - an early prognosis on continuation vehicles
12:10 PM / 12:40 PM - Conference Room
12:10 PM / 12:40 PM - Conference Room
Secondaries or not? Fig leaf hiding overpriced assets or genuine gem in the rough? Continuation funds are the subject of increasing debates. Besides the thorny question of valuations and conflicts of interest management, the real question is: why do we need them? There are plenty of solutions, chiefly secondary LBOs, that would address the issue of lingering assets in portfolios. Why do fund managers hang on to them? Is it that difficult to source good deals? Do managers fall in love with assets and struggle to let go? Is this all for IRR enhancement in light of a disappointing course of action?
| Speaker(s): |
| - Fred EBRAHEMI - Partner, Chief Operating Officer & General Counsel | CLEARLAKE CAPITAL GROUP |
| - SYLVIA MARTINEZ - PRIVATE MARKETS DIRECTOR | BANCO SABADELL |
| - Cyndi MOSQUERA - Director | METLIFE INVESTMENT MANAGEMENT |
| Moderator(s): |
| - Ana DICU - Managing Director | CAMPBELL LUTYENS |
What’s next with semi-liquid structures?
02:00 PM / 02:30 PM - Conference Room
02:00 PM / 02:30 PM - Conference Room
So-called “evergreen” vehicles have rapidly gained the attention of institutional LPs, whose appeal for semi-liquid structures may easily be equivalent to that of the private wealth investors they were designed for.
However, liquidity remains a challenge, from a distribution and valuation perspective.
- What innovation are we likely to see in the secondaries market that may provide the answer?
- How do you align the portfolio to smooth out the returns profile of newer versus more mature underlying companies?
- What are the approaches to valuation to enable more frequent liquidity events?
| Speaker(s): |
| - Kalyani HARAR - Alternatives Director, EMEA | WELLINGTON MANAGEMENT |
| - Richard HOPE - Co-Head of Investments | HAMILTON LANE |
| - Shenal KAKAD - Head of Private Markets | BARCLAYS WEALTH AND INVESTMENT MANAGEMENT |
| - Emily POLLOCK - Director, Private Equity Product Strategies team, Global Client Solutions | KKR |
| Moderator(s): |
| - Alexander SCHOENFELDT - Head of Investments | LUMYNA INVESTMENTS LIMITED |
Investing in the AI revolution
02:30 PM / 03:00 PM - Conference Room
02:30 PM / 03:00 PM - Conference Room
The AI revolution isn't coming—it's here, and it's accelerating faster than most predicted. As models leap from impressive to genuinely transformative, private market investors are riding the wave right across the spectrum of asset classes and strategies. From cloud infrastructure and data centres, to the applications reshaping industries, this session provides an update on market trends and where value lies.
| Speaker(s): |
| - Lauriane REQUENA - Director, Tech Growth | KKR |
| - Jonathan USEROVICI - Partner | HEADLINE |
| Moderator(s): |
| - Andrew WOODMAN - London Bureau Chief | PITCHBOOK |
Will we ever see the emergence of passive private market indexes? n
03:00 PM / 03:30 PM - Conference Room
03:00 PM / 03:30 PM - Conference Room
If investors could "buy the market" in private equity, they would not lose capital. This proposition is very attractive, especially given the difficulty in selecting funds and the wide dispersion of performance. However, building an investable passive private market index remains elusive. Why is this so difficult? Is this even possible? What would be the required conditions to see the emergence of such a product? Is the challenge informational? Operational? Technical? Who would be the most legitimate type of actor to create such a product? Who would be the core client group for such a product?
| Speaker(s): |
| - Benedetta BALDUCCI - Managing Director Private Markets EMEA | STATE STREET |
| - Mark O'HARE - Founder of Preqin and Vice Chairman | BLACKROCK |
| Moderator(s): |
| - Nicholas SMITH - Managing Director, Private Credit | ALTERNATIVE CREDIT COUNCIL |
Winning the long game in private wealth
03:30 PM / 04:00 PM - Conference Room
03:30 PM / 04:00 PM - Conference Room
Private wealth has long been regarded as a complex, sub-scale and difficult source of capital. The potential is big, but the road is long. To win the long game, what hurdles must the industry overcome to achieve widespread adoption? And how fast will this happen?
| Speaker(s): |
| - Raphaela SCHRÖDER - Co-Founder and CEO | AUREA PARTNERS |
The big picture on private markets
04:00 PM / 04:30 PM - Conference Room
04:00 PM / 04:30 PM - Conference Room
Private markets have a knack for reinventing themselves. What has been the key takeaways from IPEM Paris 2025.
| Speaker(s): |
| - Jim PITTMAN - Head of Private Markets Multi-Management | BRITISH COLUMBIA INVESTMENT MANAGEMENT CORPORATION |
Summary
04:30 PM / 04:45 PM - Conference Room
04:30 PM / 04:45 PM - Conference Room
Concluding remarks to summarise key takeaways.
Summits
Enjoy IPEM’s practical and dynamic sessions on specific topics to go deeper and find solutions together. Take the opportunity to network with participants during lunches or cocktails at the end of each summit.
Download IPEM Paris 2025 Summits Program
Private Debt
10:00 AM / 4:40 PM – Summit Room 1
10:00 AM / 4:40 PM – Summit Room 1
10:00 AM - 10:15 AM / The big picture on direct lending
Opening remarks to set the scene on private debt’s evolution.
| Speaker(s): |
| - William COX - Senior Managing Director | KBRA |
10:15 AM - 10:45 AM / How private credit is challenging the loan and bond markets for large-cap deals
Some of the largest leveraged buyouts (LBOs) in the last two years have been financed by private credit. For those lending to large-cap global businesses, speed to market is vital in completing deals when billions of dollars are at stake. Some of the industry’s mega funds are pushing direct lending activity further into the broadly syndicated loan space - the long-held preserve of global banks - such is the size of the loans being underwritten. As direct lending deals grow bigger, and GPs respond ever faster to demand by underwriting entire loans (unitranche loans), how is this likely to shape the future of corporate lending? As banks arrange syndicated loans, will they look to develop more hybrid structures with credit managers to share the risks, or will they follow JP Morgan and raise the competitive stakes?
| Speaker(s): |
| - Tristram LEACH - Partner and Co-head of European Credit | APOLLO |
| - Tara MOORE - Managing Director, Head of European Originations | GOLUB CAPITAL |
| - Matt THEODORAKIS - Partner and Co-Head of European Direct Lending | ARES MANAGEMENT |
| Moderator(s): |
| - Louis THUILLEZ - Associate | AETHER FINANCIAL SERVICES |
10:45 AM - 11:25 AM / Reaching maturity - trends in core mid-market direct lending
Direct lenders have established themselves as the de facto financing partner for mid-market sponsors. Their speed, certainty and flexibility means they’re now essential grease on the wheels of the transaction market. But how do direct lenders sustain a pipeline in another challenging year for sponsor-backed M&A? How do debt platforms navigate this era of geopolitical shocks to stay resilient? Are the fortunes of debt funds and financial sponsors intrinsically linked?
| Speaker(s): |
| - Jens BAUER - Managing Director and Co-Portfolio Manager | OAKTREE CAPITAL MANAGEMENT |
| - Klaus PETERSEN - Founding Partner | APERA ASSET MANAGEMENT LLP |
| - Taj SIDHU - Managing Director - Partner, Head of European and Asian Private Credit | THE CARLYLE GROUP |
| - Orla WALSH - Managing Director and Portfolio Manager | BARINGS |
| Moderator(s): |
| - Lucia CAMBLOR - Chief Credit Correspondent | OCTUS |
11:25 AM - 12:05 PM / Hunting out the best borrowers in Europe’s lower middle market
In an increasingly competitive market, lenders in Europe’s lower middle market must sharpen their sourcing strategies and deal structuring techniques to secure the best opportunities and stand out to borrowers. Unlike the upper market, where scale and brand recognition often drive deal flow, lower middle market lenders must rely on a combination of deep market intelligence, strong local networks, and creative structuring to originate and execute high-quality transactions. Success in this space is less about waiting for deals to come to you and more about tracking the right borrowers, understanding their needs, and moving swiftly when the right opportunity arises. Just like a skilled hunter, lenders must stay agile, anticipate shifts in the landscape, and use the right tools—whether proprietary data, sponsor relationships, or bespoke financing solutions—to capture the best deals before the competition does.
| Speaker(s): |
| - Richard DALAUD - Membre du Comité Exécutif - Partner Siparex Mezzanine | SIPAREX |
| - Xavier DE PRÉVOISIN - Managing Partner | MBO+ |
| - Eric GALLERNE - Managing Partner - Private Debt | EURAZEO |
| - David MERRIMAN - Partner, Head of Private Debt | BEECHBROOK CAPITAL |
| Moderator(s): |
| - Rachel MCGOVERN - Managing Director | KBRA DLD, A DIVISION OF KBRA ANALYTICS |
12:05 PM - 12:35 PM / What role are ESG considerations playing in today’s private credit market?
With Europe’s net-zero transition requiring an estimated €29 trillion ($32 trillion) in cumulative investment by 2050, and annual funding needs rising from €680 billion to €1.04 trillion, private markets—particularly private credit—have a critical role to play. As banks pull back from riskier lending, private credit managers are stepping in to finance companies on their energy transition journeys, leveraging flexible capital to drive sustainable outcomes. Innovative mechanisms like ESG margin ratchets, which link borrowing costs to specific sustainability performance criteria, are already in play—but what’s next? Beyond pricing incentives, how are private credit managers integrating ESG into underwriting, due diligence, and portfolio management? And as regulatory frameworks evolve, will ESG considerations become a fundamental pillar of private credit investing or remain a secondary feature in deal structuring?
| Speaker(s): |
| - Adrien DESBOIS - Senior Investment Manager | EIF - EUROPEAN INVESTMENT FUND |
| - Alexandra TIXIER - Co-Head Development Finance & Impact, Lead of Impact Private Credit | ALLIANZ GLOBAL INVESTORS |
| - Nicole WAIBEL - Managing Director | CRESCENT CAPITAL |
12:15 PM - 12:30 PM / Morning Summary
Concluding remarks to summarise key takeaways from the morning sessions.
12:30 PM - 02:00 PM / Lunch
Lunch
02:00 PM - 02:15 PM / The big picture on opportunistic credit
How is the market evolving for more flexible credit solutions.
| Speaker(s): |
| - Maxime LAURENT-BELLUE - Group Deputy CEO, Co-Head Credit and Head of Tactical Strategies & Structured Credit Strategies | TIKEHAU CAPITAL |
02:15 PM - 02:45 PM / Portfolio construction in an expanding private credit universe
In an ever-expanding universe, one challenge for LPs is taking a holistic view on private debt portfolio construction. How do LPs capitalise on opportunities that don’t quite fit the mould?
| Speaker(s): |
| - Michael GROSS - Chief Executive Officer and President | SLR CAPITAL PARTNERS |
| - Olivier JESEQUEL - Head of Paris Office | BFINANCE |
| - Lucas PECH - Investment Director | LOMBARD ODIER |
| - Jakob SCHRAMM - Partner & Head of Private Credit | GOLDING CAPITAL PARTNERS |
| Moderator(s): |
| - William BARRETT - Managing Partner | REACH CAPITAL |
02:45 PM - 03:15 PM / What does “flexibility” mean in practice?
Tactical opportunities funds, a hybrid strategy that bridges the gap between private credit and private equity and seeks to capitalise on underserved or complex areas of the corporate market, are on the rise. With the flexibility to underwrite across the capital structure, what does this look like from an origination, underwriting and returns perspective?
| Speaker(s): |
| - Philip CUFF - Partner, Head of Hybrid Value Europe | APOLLO |
| - Raphael DE BOTTON - Senior Managing Director, Tactical Opportunities | BLACKSTONE |
| - Saam GOLSHANI - Head of PE Practice and FRI | WHITE & CASE |
| - Owain GRIFFITHS - Partner & Head of Capital Solutions | SONA ASSET MANAGEMENT |
| Moderator(s): |
| - Lisa LEE - Managing Editor | DEBTWIRE |
03:15 PM - 03:45 PM / Distressed investing, today and tomorrow
Distressed investing has come a long way since the Global Financial Crisis. Back then, widespread market dislocation and liquidity constraints presented a rich opportunity set.
Nowadays, deeper private credit markets can provide funding solutions to companies with complex credit profiles before they become stressed.
- What has this done to the opportunity set?
- How are distressed players viewing sectors and origination?
- What’s been the experience with direct lenders acting as sellers?
| Speaker(s): |
| - Mathieu CLAVEL - Portfolio Manager, Alternative Credit | PIMCO |
| - Josefa LLINARES - Head of Origination | POLUS CAPITAL MANAGEMENT |
| - Musa SONMEZ - Co-Head of Europe & Partner | OAK HILL ADVISORS |
03:45 PM - 04:00 PM / The big picture on asset-based finance
Opening remarks to set the scene on structured credit and specialty finance.
| Speaker(s): |
| - Barbara RICHTER - Head of Asset-Based Finance – Whole Loans & European Lending | VÄRDE PARTNERS |
04:00 PM - 04:40 PM / Charting the trajectory of asset-based finance in private credit
As direct lending matures, investors are branching out into niche strategies such as asset-based lending, litigation finance, Net Asset Value (NAV) lending, and royalty financing. This trend is creating opportunities for new managers to differentiate themselves in the market. The outlook for ABF is promising, with the market expected to grow from $5.2 trillion to $7.7 trillion by 2027. The pullback of traditional lenders in response to regulation and the outbreak of volatility in the banking system are all likely to increase the need for private ABF so how are firms tapping in to this growing trend?
| Speaker(s): |
| - Kyle ASHER - Managing Director & Co-Head, Alternative Credit Solutions | MONROE CAPITAL |
| - Douglas CRUIKSHANK - Managing Partner & Founder | HARK CAPITAL |
| - Peter HUTTON - Head of NAV Financing | ARCMONT |
| - Max SCHERR - Co-Portfolio Manager | TCW |
| Moderator(s): |
| - Kerstin KUBANEK - Senior Private Debt Reporter | LEVFIN INSIGHTS |
Private Equity
10:00 AM / 12:50 PM – Summit Room 2
10:00 AM / 12:50 PM – Summit Room 2
10:00 AM - 10:20 AM / The big picture
For the industry to reach maturity, it must go down it’s own path of transformation. In this summit, we explore three key areas - AI, specialisation and talent.
| Speaker(s): |
| - Nicolas MOURA - CFA - Research Analyst, EMEA Private Capital | PITCHBOOK |
10:20 AM - 11:00 AM / What to expect when you’re transacting
The mood music may be relatively sombre around PE, but there are reasons to be cheerful. This session will dive deeper into the deal drivers that are creating attractive opportunities, including where pockets of value lie, how top performing GPs will put capital to work and where disruption will generate attractive returns.
| Speaker(s): |
| - David NICAULT - Head of technology | BRIDGEPOINT |
| - Tom PEMBERTON - Partner, Head of Consumer | INFLEXION |
| - Pierre STADLER - Head of Thematics – Private Equity | PICTET |
| - Tom WRENN - Managing Partner | ECI PARTNERS |
| Moderator(s): |
| - Allan BERTIE - Managing Director, Head of European Investment Banking | RAYMOND JAMES |
11:00 AM - 11:40 AM / Generative PE: How AI may reshape the business of buyout investing
The last two years have seen an explosion in generative AI as hyperscalers and AI-native companies like OpenAI push the innovation envelope. Yet whilst AI is increasingly promoted by firms as a value creation lever, adoption within the industry itself remains lacklustre.
- Does low adoption risk PE firms themselves getting left behind?
- What does an AI-native PE firm of the future look like?
- Using AI tools to drive cost efficiencies, manage cash flow forecasting and drive EBITDA gains
| Speaker(s): |
| - Charles-Edouard BOUÉE - Co-Founder & Managing Partner | ADAGIA PARTNERS |
| - Sabrina COLIN - Partner | DIVERGENT INVESTMENTS |
| - Nevin RAJ - COO and Co-founder | GRATA, PART OF DATASITE |
| - Harry VANDER ELST - Partner | CLIPWAY |
11:40 AM - 12:10 PM / The many flavours of strategic GP capital in the race to scale
Consolidation, strategic partnerships and minority deals are reshaping private markets as the industry matures. This session gathers some of the players with recent experience in navigating the next phase of growth to explore the options available.
Full-scale M&A
Wealth and distribution partnerships
Insurance tie-ups
Minority GP stakes
| Speaker(s): |
| - Pascal CHRISTORY - Chief Executive Officer | AXA IM PRIME |
| - Paul DESMARAIS III - CEO & Chairman | SAGARD |
| - François-Xavier MAURON - Partner | ANDERA PARTNERS |
| Moderator(s): |
| - Brian VICKERY - Partner and Head of ImPACT | PACT CAPITAL PARTNERS |
12:10 PM - 12:50 PM / Hyper-specialisation: A sign of PE’s growing maturity?
The trend of hyper-specialisation in private equity is gaining momentum in 2025, with firms increasingly focusing on niche markets and specific sectors to gain a competitive edge. Specialised firms have demonstrated superior performance, with data showing niche funds delivered average IRRs of 38% compared to 18% for broadly diversified funds between 2011 and 2021. Is this a sign of private equity’s growing maturity and if so, what unique characteristics should investors be aware of when looking to add hyper-specialised funds in their PE portfolios?
- The deal lens for hyper-specialists is narrow. What is the playbook to identifying target companies that may not be for sale, to at least begin due diligence and build relationships with management teams?
- How might AI systems/tools and data lakes help with the sourcing and underwriting process when seeking out the best opportunities?
- What questions should investors be asking themselves when assessing one of these hyper-specialised funds relative to a sector-focused or a generalist fund?
- How to overcome the issue of fund size constraints - are SMAs an option for institutional LPs?
- Where are hyper-specialists focusing their investment lens right now - what opportunities are they seeing in areas such as AI-driven forensic accounting, climate technology, energy transition, gene therapy innovation?
| Speaker(s): |
| - Judith CHARPENTIER - Co-Managing Partner and Co-Head of the Flagship Fund | ASTORG |
| - Vaish KATAMREDDY - Director, Investments | GOLDING CAPITAL PARTNERS |
| - Pierre MEIGNEN - Partner - Head of Small-mid buyout | EURAZEO |
| - Cameron PAYNE - Principal - Co Head of European Investment | FEDERATED HERMES PRIVATE MARKETS |
| Moderator(s): |
| - Fay MARGO - CEO | BRACKENDALE CONSULTING |
Asia Pacific
11:30 AM / 12:30 PM – Summit Room 3
11:30 AM / 12:30 PM – Summit Room 3
11:30 AM - 12:00 PM / Shifting Capital, Shaping Markets: Asia-Pacific’s Expanding Role in Private Investment
The Asia-Pacific region is becoming an engine of innovation, capital formation, and outbound investment, and its influence on global private markets is accelerating. From China’s pivotal role as both a hub of technological innovation and a growing source of capital and strategic investors expanding into Europe, to India’s emergence as a magnet for growth equity and digital disruption, to Australia’s stable LP ecosystem and regional gateway status, the region is not just attracting global attention but actively transforming deal dynamics.
| Speaker(s): |
| - Ryan COLLINS - Managing Partner | TBA |
| - Michel LOWY - CEO / Co-Global Portfolio Manager | SC LOWY |
| - Luisa MUNARETTO - Founder and Managing Partner | TECH IA IMPACT INVEST PARIS DELHI |
| Moderator(s): |
| - Nathalie DEPETRO - Global Strategy & New Bus. Development Director | IPEM |
12:00 PM - 12:30 PM / The private equity opportunity in India
Southern Asia has emerged as a new focal point for private equity investments, powered by growing economies with young demographics and rapidly evolving technological ecosystems. Countries like India offer fertile ground for PE firms seeking growth opportunities in digital transformation, consumer markets, and infrastructure development.
Women in Private Markets - special session
09:15 AM / 10:15 AM – Summit Room 3
09:15 AM / 10:15 AM – Summit Room 3
09:15 AM - 10:45 AM /
Agenda TBC
Secondaries
2:00 PM / 4:40 PM – Summit Room 2
2:00 PM / 4:40 PM – Summit Room 2
02:00 PM - 02:15 PM / The big picture on secondaries
Setting the scene on market activity and key transactions.
| Speaker(s): |
| - Sanjay GUPTA - Chief Investment Officer | MOONFARE GMBH |
02:30 PM - 03:20 PM / Fund stakes market - strong tailwinds?
This looks likely to be a fair description of the long-term forecast for the secondaries market, which continues to mature at pace. In 2024, the market generated an unprecedented $152 billion in closed deals, making it the busiest year on record. This level - characterised by stable conditions - has the potential to stretch even further, as specialised strategies emerge in private credit, real estate, and infrastructure secondaries. This diversification, combined with innovative transaction structures like 'mosaic' deals that allow multiple buyers to acquire specific portfolio segments, has added further depth to the marketplace.
| Speaker(s): |
| - Jon MADORSKY - Managing Partner | RCP ADVISORS |
| - Christophe NICOLAS - Managing Director | ALPINVEST |
| - Philipp PATSCHKOWSKI - Managing Director | NEUBERGER BERMAN |
| - Mustafa SIDDIQUI - Founder & CEO | SQ CAPITAL |
03:20 PM - 04:00 PM / Continuation vehicles - the only way is up?
Elevated pricing and an overall increase in deal quality are proving to be favourable for GP-led transactions. With firms choosing to hold on to trophy assets for longer, it has created a wrinkle in the exit landscape. However, there is a growing acceptance that, provided the GP can demonstrate legitimate further value creation, continuation vehicles can be attractive to investors who choose to roll in from the legacy fund. Single-asset transactions are particularly popular for this reason, in high growth sectors such as technology and healthcare. According to Lazard, these transactions generated $72 billion in 2024. Is this a story that has plenty of chapters still to be written? And if so, what might these chapters reveal?
| Speaker(s): |
| - Charles APONSO - Partner | QUILVEST CAPITAL PARTNERS |
| - Mercedes FERNANDEZ ELIAS - Partner & Investment Committee Member, MS Private Equities Secondaries | MORGAN STANLEY INVESTMENT MANAGEMENT |
| - Mireille KLITTING - Head of Five Arrows Secondary Opportunities (FASO) and Head of Five Arrows Multi Strategies (FAMS) | FIVE ARROWS |
| - Ricardo MIRÓ-QUESADA - Partner and Head of Private Equity | ARCANO PARTNERS |
04:00 PM - 04:40 PM / Managing conflicts of interest when launching a continuation vehicle
Protecting investors’ interests is paramount when seeking to establish a continuation fund. These are complex deals, even though they may only have a single asset, and plenty fail to complete. As GP-led transactions evolve, it is becoming more important than ever for GPs to navigate conflicts of interest inherently associated with being both buyer and seller. Early engagement with the LPAC for informal approval prior to initiating a sale process is vital before the GP begins receiving bids. But what other key aspects to managing potential conflicts should GPs be aware of, to avoid falling foul of LPs and regulators alike?
| Speaker(s): |
| - Sabina COMIS - Global Managing Partner | DECHERT LLP |
| - Rocio HERES - Partner | ALTAMAR PRIVATE EQUITY |
| Moderator(s): |
| - Marion COSSIN - Managing Director - Private Capital Advisory | LAZARD |
Impact
10:15 AM / 12:00 PM – Summit Room 4
10:15 AM / 12:00 PM – Summit Room 4
10:15 AM - 10:30 AM / The big picture on impact
Setting the scene on market activity and key transactions.
| Speaker(s): |
| - Annachiara MARCANDALLI - Head of Sustainability and Impact | CAMBRIDGE ASSOCIATES |
10:30 AM - 11:15 AM / How to institutionalise the impact market
Impact managers frequently cite the challenges to scale their platform to capitalise on the opportunity. What options exist in the market to help them do just that?
| Speaker(s): |
| - Marie-Celine DAMNON - Investment Associate | CAPRICORN INVESTMENT GROUP |
| - Alix FAURE - Chief Sustainability Officer | SIENNA INVESTMENT MANAGERS |
| - Charlotte VIRALLY - Managing Director – SWEN Impact Fund for Transition | SWEN CAPITAL PARTNERS |
| - Barbara WEBER - Founding partner | B CAPITAL PARTNERS |
11:15 AM - 12:00 PM / Did Trump just save the impact movement?
Investors have wrestled with how to evaluate the impact opportunity. The mission may be clear, but the complexity arising from interconnected challenges can be a major headwind to fundraising. Enter Trump, whose introduction of tariffs has repriced risk, especially around supply chains. The ripple effect of onshoring, reshoring and localised production are back in vogue as a means to mitigate the fallout. Has Trump kickstarted a golden era for the circular economy?
| Speaker(s): |
| - Alexandre MARTIN-MIN - Head of Natural Capital & Impact Investment | AXA IM ALTS |
| - Rekha UNNITHA - Managing Director, Global Head of Private Equity Impact | NUVEEN |
Breakout Rooms
Breakout sessions give our clients & partners the opportunity to promote their expertise and services to the IPEM community.
Download IPEM Paris 2025 Breakout Rooms Program
Dedale Breakout Session
10:00 AM / 11:00 AM - Breakout Room 1
10:00 AM / 11:00 AM - Breakout Room 1
Description TBC
Social Events
Participate in dynamic and easy-going events at the Palais des Congrès, in the heart of the French capital.
Download IPEM Paris 2025 Social Events Program
Morning Boxing Class
07:00 AM / 08:20 AM -
07:00 AM / 08:20 AM -
Private Capital meets the boxing ring! Join IPEM and our official Wellness Partner Temple | Noble Art for an exclusive no-combat boxing lesson for all levels! With the guidance of a professional boxing champion, you'll learn the moves, hit a bag and enjoy an intense, tailor-made workout.
- No experience necessary: beginners welcome!
- 3 x 50-minute sessions starting at 7:10 AM, 7:20 AM, and 7:30 AM
- Limited groups for personalized coaching
- Fully privatized club for IPEM participants
- All you need to bring is your sportswear, boxing gloves will be provided
- Premium changing rooms: individual showers, lockers, towels and cosmetics.
- 1 minute walk from the IPEM Paris venue, the Palais des Congrès
Open to all IPEM Paris 2025 participants, registration required.
ESG Breakfast
08:00 AM / 09:00 AM - by invitation only, no public location disclosed
08:00 AM / 09:00 AM - by invitation only, no public location disclosed
An invitation-only breakfast bringing together IPEM attendees committed to advancing ESG in private markets.
Location details will be shared privately with confirmed guests.
Comms & Marketing Lunch
12:30 PM / 02:00 PM - by invitation only, no public location disclosed
12:30 PM / 02:00 PM - by invitation only, no public location disclosed
An exclusive, invitation-only lunch gathering communications and marketing professionals from across the private markets landscape.
Location details will be shared privately with confirmed guests.
Wrap Party
05:30 PM / 07:00 PM - Le Méridien Etoile
05:30 PM / 07:00 PM - Le Méridien Etoile
Join us at 5:30 PM at Le Méridien Étoile for our Wrap Party as we celebrate the success of another fantastic IPEM Paris event!
Download the IPEM Paris 2025 Program
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