Full Program
Preliminary
Monday August 24
| 13:00 - 13:30 | Coffee and registration |
| 13:30 - 13:35 | Welcome and opening remarks |
| 13:35 - 14:15 | Keynote presentation |
| David Scharfstein (Harvard Business School) | |
| 14:15 - 15:00 | Panel discussion |
| David Scharfstein (Harvard Business School) | |
| Aino Bunge, Riksbanken | |
| Martin Torell, Ture Invest | |
| Moderator: Bo Becker (SSE / SHoF) | |
| 15:00 - 15:30 | Coffee break |
| 15:30 - 16:10 | Keynote presentation: "Private Capital: Where has it been? Where does it go from here?" |
| Steven Kaplan (Chicago Booth) | |
| 16:10 - 16:55 | Panel discussion |
| Steven Kaplan (Chicago Booth) | |
| Jenny Askfelt Ruud, AP4 | |
| Moderator: Per Strömberg (SSE/SHoF) | |
| 16:55 - 17:00 | Closing remarks |
Tuesday August 25
Timing: Each paper is allocated 45 minutes, which are divided as follows:
- 25 minutes for the presentation,
- 15 minutes for the discussant,
- 5 minutes for questions from the audience.
| 08:00 - 08:30 | Coffee and registration |
Session 1 |
The rise of private credit |
| 08:30-09:15 | Why is Private Lending So Popular? |
| David Robinson (Duke / SHoF) | |
| Discussant: Sophie-Dorothee Rotermund (SSE / SHoF) | |
| 09:15-10:00 | Life Insurers’ Private Credit Investments and Annuity Market Share Capture |
| Ralf Meisenzahl (Federal Reserve Bank of Chicago) | |
| Discussant: Bo Becker (SSE / SHoF) | |
| 10:00-10:30 | Coffee break |
Session 2: |
Private credit and financial stability |
| 10:30-11:15 | Private Credit, Balance Sheets and Financial Stability |
| Amit Seru (Stanford Graduate School of Business) | |
| Discussant: Mariassunta Giannetti (SSE / SHoF) | |
| 11:15-12:00 | The Cyclicality of Direct Lending |
| Sascha Steffen (Frankfurt School of Finance and Management) | |
| Discussant: Sebastian Doerr (Bank for International Settlements) | |
| 12:00-13:30 | Lunch |
Session 3: |
The LP perspective |
| 13:30-14:15 | Overallocated Investors and Secondary Transactions |
| Aleksandar Andonov (University of Amsterdam) | |
| Discussant: Magnus Dahlquist (SSE / SHoF) | |
| 14:15-15:00 |
Democratizing Private Markets? Private Equity Performance of Individual Investors |
| Sangmin S. Oh (Columbia University) | |
| Discussant: Laurent Bach (ESSEC Business School / SHoF) | |
| 15:00-15:30 | Coffee break |
Session 4: |
Private equity: Human capital and real effects |
| 15:30-16:15 | Private Equity and Creative Destruction: Evidence from the U.S. Power Sector |
| Mayank Kumar (Boston University) | |
| Discussant: Dong Yan (Shanghai Jiao Tong University / SHoF) | |
| 16:15-17:00 |
How do Barbarians Get to the Gates? Private Equity Careers, Styles, and Returns |
| Blake Jackson (University of Florida) | |
| Discussant: Per Strömberg (SSE / SHoF) |