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DTSTART;VALUE=DATE:20250611
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SUMMARY:AICA 2025 BDC Forum
DESCRIPTION:Explore the universe of exchange listed and private and non-traded business development companies (BDCs) at the AICA 2025 BDC Forum! \nThis conference is an extension of our six years of hosting the AICA Fall Roundtable in NYC\, which primarily focused on closed-end funds (CEFs) and interval funds. This event is packed with informative panels\, engaging speakers\, and valuable networking opportunities with fund sponsors\, asset managers\, institutional investors\, RIAs\, and financial advisors active in the Business Development Company (BDC) space. Get up to date on the latest trends\, developments\, and investment strategies. \nThe all-day event will be held on Wednesday\, June 11\, 2025\, in New York City at the Cafe 55: 55 Water St\, PECK SLIP\, NY 10041. \nSince 2019\, AICA is known for combining high-quality\, advisor-centric content\, distinguished by its invited speaker presentations (our speakers don’t pay to speak) that enable meaningful discussion and interaction. AICA also sponsors the weekly NAVigator Podcast. True to our motto — Excellence Beyond Indexing — AICA strives to help grow relationships for institutional investors\, advisors\, service providers\, and fund sponsors within the industry. \n \nSponsorsInterviewsArticlesAttendee ClassificationSponsors\n\n\n\n\n\n\n\n\nBe an AICA event sponsor!\nSponsorship opportunities – Click here\n\n\n\nCEF Advisors & CEFData.com\nKatten\nOppenheimer\n\n\n\n\n\nInterviews\n\n  \n  \n\n\n\n\nJohn Cole Scott on BDC Forum\n.\n\n\n\n\nJohn Cole Scott on CEF Advisors\n.\n\n\n\n\nMitchel Penn on Evaluating BDCs\n.\n\n\n\n\nChuck Jaffe on BDCs and CEFs\n.\n\n\n\n\nMichael Testa on Trinity Capital\n.\n\n\n\n\nGladstone’s Bob Marcotte on BDCs\n.\n\n\n\n\nVlad Bulkin on BDC Regulation:\n.\n\n\n\n\n\nArticles\n\n  \n\n\n\n\nThe Formula for BDC Success? ‘Stick to Your Knitting’\n.\n\n\n\n\n\nAttendee Classification\n\nAgenda – 4CE Credits approved10:00 AM to 11:00 AM - Registration / Breakfast11:00 AM - Conference Welcome\n\n\n\n\n\n\n\n\n\n\n\nJohn Cole Scott\,\nFounder – Active Investment Company Alliance\n\n\n\n\n\n\n\n\n11:05 AM to 11:45 AM - Event Keynote: Fireside Chat: ''Structuring Alpha: Unpacking BDCs with a Market Veteran''\nTranscript\n Video\n\n\n\n\n\n\n\n\n\n\n\nJohn Cole Scott\,\nFounder – Active Investment Company Alliance\nFinian O’Shea\,\nDirector – WFS Research\n\n\n\n\n\n\n\n11:45 AM to 12:35 PM- Panel #1 - Trends & Outlook for BDCs: View from a Regulator\, Industry Advocate and Counsel\nTranscript\n Video\n\n\n\n\n\n\n\n\n\n\n\nModerator\nChuck Jaffe\,\nHost – MoneyLife\nSpeaker #1\nKaitlin C. Bottock\,\nAssistant Director – SEC\nSpeaker #2\nTonnie Wybensinger\,\nHead of Government Relations – Small Business Investor Alliance (SBIA)\nSpeaker #3\nKenneth Burdon\,\nPartner – Simpson Thacher & Bartlett LLP\n\n\n\n\n\n12:35 PM to 1:45 PM - Networking Lunch1:45 PM to 2:35 PM - Panel #2 - Differentiated BDC Managers and Private Credit Outlook\nTranscript\n Video\n\n\n\n\n\n\n\n\n\n\n\nModerator\nVlad Bulkin\,\nPartner – Katten\nSpeaker #1\nMichael Testa\,\nCFO – Trinity Capital\nSpeaker #2\nBob Marcotte\,\nPresident – Gladstone Capital\nSpeaker #3\nLee Feingold\,\nManaging Director – Kayne Anderson\n\n\n\n\n\n2:35 PM to 3:10 PM PM - Networking Break3:10 PM to 4:00 PM - Panel #3 - Analysts and Investor Panel - Key to Picking and reviewing BDCs for Clients\nTranscript\n Video\n\n\n\n\n\n\n\n\n\n\n\nModerator\nDan Silver\,\nCEF Advisors\nSpeaker #1\nMitchel Penn\,\nManaging Director – Oppenheimer & Co.\nSpeaker #2\nJohn Cole Scott\,\nPresident – CEF Advisors\n\n\n\n\n\n\n4:00 PM to 6:00 PM - Cocktail ReceptionNote: Agenda & Speakers are Subject to Change. Attending the conference in person gives AICA permission to use your likeness in replay content and marketing materials. \n×\n\n  \n\n\n\n\n\nLee Feingold is a managing director for Kayne Anderson’s private credit strategies. \nPrior to joining Kayne Anderson in 2018\, Feingold spent several years in middle market management consulting at the Keystone Group where his primary focus was on turnaround situations within the manufacturing and distribution space. These projects included interim management\, lender negotiations\, and refinance initiatives. Feingold also served in a portfolio management role at The Riverside Company\, monitoring company performance\, supported investor requests and performed ad hoc analyses on behalf of fund managers. \nFeingold holds a B.S. from Indiana University and an MBA from New York University. \n\n\nClose×\n\n\n\n\n\n\nMichael Testa is the CFO at Trinity Capital and joined Trinity in November 2020. He previously served as Trinity’s Chief Accounting Officer. Prior to Trinity\, Michael served as Vice President and Controller at Oxford Funds. Michael started his career within the financial services practice of Ernst & Young LLP focusing on financial audits of clients in the asset management industry. He spent four years with Ernst & Young in Switzerland\, where he served as an auditor of global financial institutions. Michael has over 20 years of experience in financial services.\n\nClose×\n\n\n\n\n\n\nBob joined Gladstone Capital Corporation in December 2013 with extensive background in commercial finance and investment banking. Since 2002\, Bob has been focused on the origination and management of middle market debt and equity investments supporting both private equity sponsors and owner operators. Prior to joining us\, Bob served as an Executive Vice President and Co-Head of Asset Management for MCG Capital where he was responsible for investment origination\, evaluation\, underwriting and portfolio management for the $500+ million publicly traded business development company. Bob also served on MCG Capital’s investment committee since 2007. While at MCG Capital\, Bob led more than $625 million of middle market debt and equity investments across a variety of industries\, served on the board of numerous investment entities and spearheaded the successful development of sector experience and investment activities within the colocation\, cable and education industries. \nPrior to MCG Capital\, Mr. Marcotte was Chief Financial Officer for Aleron\, Inc.\, a wholesale internet access and network services provider and worked in the investment banking divisions of Goldman\, Sachs & Co. and Merrill Lynch & Co.\, and in the project financing department of GE Capital and as a banking officer at Mellon Bank. \nMr. Marcotte received his B.S.B.A. in accounting and finance from Georgetown University. \n\n\nClose×\n\n  \n\n\n\n\nMr. Penn follows business development companies. Prior to joining Oppenheimer and Co. he followed business development companies at Janney Montgomery Scott. In addition\, he was an Equity Portfolio Manager/Financial Analyst at Legg Mason Capital Management from 2001 to 2012 where he specialized in financial companies. From 1996 to 2001 he managed a $400M fixed income portfolio at Legg Mason Capital Management. Prior to joining Legg Mason Mr. Penn managed a $15B fixed income portfolio at Aetna. He also worked for Price Waterhouse from 1981 to 1985.Mr. Penn received his Chartered Financial Analyst designation in 1995 and is a member of the Baltimore CFA Society. He was President of the Baltimore Society (2001-2002) and served on the Board of Directors. Mr. Penn received his Certified Public Accounting designation in 1983\, but he no longer maintains this designation. He is a graduate of Villanova University\, Magna Cum Laude\, Phi Kappa Phi\, Beta Gamma Sigma (1981) and University of Chicago (MBA-1987).\n\nClose×\n\n\n\n\n\n\nKenneth Burdon is a Partner in Simpson Thacher’s Registered Funds Practice. Based in the Firm’s Boston office\, Ken advises registered investment funds\, business development companies (BDCs)\, investment advisers and other financial services companies and financial institutions on the full spectrum of product development and distribution and related regulatory\, compliance and governance issues\, as well as M&A\, divestitures and split-offs\, among other matters. He works with fund sponsors on the development of innovative products and counsels BDCs and closed-end funds on IPOs and other capital raising offerings. Ken also guides fund sponsors and distributors\, BDCs and closed-end funds\, mutual funds and others in routine and non-routine activities\, such as seeking exemptive or no-action relief from the SEC and FINRA. Ken is also a leading voice in the closed-end fund industry on the topics of corporate governance and addressing shareholder activism. \nKen’s work has historically included the development of innovative products and product structures to pursue registered and unregistered alternative strategies for clients including BlackRock and FS Investments. He has also advised the EIM Group (now the LumX Group) on a variety of onshore and offshore products in the private product space. Additionally\, Ken has advised financial institutions on transactional activities\, including Thrivent\, Affiliated Managers Group\, The TCW Group\, Société Générale\, Credit Suisse and Ameriprise\, and on associated regulatory and compliance matters. \nKen has been recognized by both Chambers Global and Chambers USA in the Registered Funds category. He was previously named a Rising Star in Registered Funds by IFLR1000\, and one of the Rising Stars of Mutual Funds at Fund Action’s Mutual Fund Industry Awards. \nKen received his J.D. in 2007\, summa cum laude from Boston University School of Law\, where he was an Editor of Boston University Law Review. He received his B.A. from Boston University in 2004\, summa cum laude and Phi Beta Kappa. He is admitted to practice in Massachusetts. \n\n\n\n\n\n\nClose×\n\n\n\n\n\n\nTonnie Wybensinger serves as Head of Government Relations at the Small Business Investor Alliance\, where she leads a team of lobbying professionals advocating for the small business private equity industry. \nTonnie began her public service career on Capitol Hill in 2002 and quickly rose through the ranks to become the youngest Chief of Staff in Congress\, serving three Members. During her tenure\, she advised on strategic communications and served as a senior advisor to the Senate Banking Committee\, which oversees U.S. capital markets. She also helped launch one of the largest free-market-focused leadership PACs of its time. \nIn the private sector\, Tonnie has been instrumental in several government relations initiatives\, earning recognition in The Hill’s “Top Ten Lobbying Victories” and being consistently named one of Washington’s “Top Lobbyists.” She is known for her strategic mindset\, collaborative leadership\, and ability to build high-performing teams that drive policy success. \nTonnie holds a bachelor’s degree from The Ohio State University and a certificate in Strategic Reputation Management from the Tuck School of Business at Dartmouth College. \n\n\nClose×\n\n\n\nKaitlin is a Branch Chief in the Chief Counsel’s Office of the SEC’s Division of Investment Management. Kaitlin’s work focuses on exemptive applications\, no-action letters and counseling other divisions and offices at the SEC on investment management issues. Kaitlin joined the SEC in 2014. \nKaitlin received a Bachelor of Arts degree with high distinction from the University of Virginia and a Juris Doctor degree from the University of Virginia School of Law. Prior to joining the SEC\, Kaitlin worked at Dechert LLP. \n\n\nClose×\n\n\nDan handles portfolio management\, research\, and trading activities for CEFA. He received his B.A. in Business Administration from the Goizueta Business School at Emory University and holds the Chartered Financial Analyst (“CFA”) designation. Prior to joining CEFA\, he was a portfolio manager for Zoso Capital\, and previously worked for investment banks UBS\, Morgan Stanley\, and SunTrust performing investment research and was a senior analyst at George Weiss Multi-Strategy Advisers.\n\n\n\n\n\n\nClosed-End Fund Advisors (“CEFA”) is a fee-based Registered Investment Advisory firm founded in 1989. \nClosed-End Fund Advisors has its corporate headquarters in Richmond\, Virginia.CEFA’s primary business is discretionary asset management. As a global manager of managers\, we build portfolios for individual and institutional clients\, through either direct work with clients or through financial advisors and planners \n\n\nClose×\n\n\n \n\n\n \n\n\nVlad Bulkin understands the unique needs of business development companies (BDCs)\, registered closed-end funds (CEFs) and private investment funds. From fund formation to capital raising activities\, he brings industry-leading experience to clients at any stage. He has extensive transactional experience\, including public and private securities offerings and strategic transactions. \nCapital markets experience backed by strong regulatory knowledge \nVlad taps into his deep regulatory and transactional knowledge to advise a broad range of clients\, including BDCs\, CEFs\, private investment funds and other financial services firms. Vlad is well positioned to counsel managers of BDCs\, CEFs and private investment funds on establishment and operational matters\, as well as regulatory and compliance with the Investment Company Act of 1940 and the Investment Advisers Act of 1940. He regularly works with alternative investment managers on developing various capital structures. \nVlad frequently works with issuers and underwriters on a broad range of public and private offerings of equity and debt securities. His experience includes initial public offerings (IPOs)\, Rule 144A offerings\, shelf offerings\, at-the-market offerings (ATMs)\, registered direct offerings\, high-yield bond offerings\, convertible debt offerings and rights offerings. \nPublic companies rely on Vlad to help navigate corporate governance and compliance matters. He regularly advises on Securities and Exchange Commission (SEC) reporting obligations and other securities laws\, including Section 16 compliance\, Rule 10b5-1 plans\, the Sarbanes-Oxley Act of 2002\, Rule 144 and the listing requirements of the NYSE and NASDAQ. \n\n\n\n\n\n\nClose×\n\n\n \n \n\n\nChuck Jaffe is a syndicated financial columnist and the host of “Money Life with Chuck Jaffe\,” a one-hour weekday financial talk show (moneylifeshow.com).Chuck’s work has been syndicated since 1995\, first while based at the Boston Globe and then from MarketWatch.com; he also writes for the Wall Street Journal and elsewhere. A past president of the Society of American Business Editors &and Writers\, Chuck has been a frequent guest on CNBC\, Nightly Business Report\, Fox Business News\, National Public Radio and more\, and is the author of three books: “Getting Started In Finding a Financial Advisor\,” “The Right Way to Hire Financial Help” and “Chuck Jaffe’s Lifetime Guide to Mutual Funds.” \nIn what is jokingly referred to as “spare time\,” Chuck is very involved in the sport of lacrosse as a broadcaster\, referee\, coach\, league owner and player. He lives on Boston’s South Shore with a golden retriever who sleeps under the desk while Chuck is working and whose flatulence issues sometimes explain Chuck’s demeanor. \nYou can follow him on Twitter @ChuckJaffe\, @MoneyLifeShow and\, depending on your sporting interests\, @BostonBoxLax. \nWebsite: http://www.moneylifeshow.com \n\n\nClose×\n\n\n\n\n\nJohn Cole is proud to lead CEF Advisors and continue the legacy of his father\, George\, a pioneer in closed-end investments who bought into the firm in 1996. After earning his bachelor’s degree from William and Mary\, John Cole joined his father at the firm in 2001\, launching his own rewarding and distinguished career. \nToday John Cole is regarded as one of the foremost experts in the industry\, and is frequently consulted by investment groups\, professional organizations\, and the national financial press for his deep insight and knowledge about closed-end fund (CEF)\, business development company (BDC)\, and interval fund data\, research\, and investing. Highly motivated and goal-oriented\, he is driven by his passion for the industry\, building meaningful connections with people\, and a deeply personal aspiration to do hard things well. \nIn 2008\, John Cole founded CEFData.com\, a data service now covering all U.S. listed and non-listed CEFs\, BDCs\, and interval funds. In 2019\, he also founded the Active Investment Company Alliance (AICA)\, and serves as its executive chairman. John Cole holds the FINRA 66 license and the Certified Fund Specialist® (CFS®) designation. \nA Richmond native\, John Cole\, his wife Katherine\, and daughter Lexi call Short Pump home. An active supporter of his alma mater\, John Cole serves on the board of the William & Mary Foundation and is a board member of the William & Mary Alumni Association. He is also a long-time member of the Richmond Association for Business Economics (RABE) and is Treasurer and Co-Chair of the Investment Committee for The New York State Society of The Cincinnati. John Cole founded an acapella group in college and still loves singing karaoke today. \n\n\nClose×\n\n\n\nPatrick K. Thomson works on Virtu’s expansive ETF desk and focuses on Equites\, Fixed Income ETF’s and bonds. Patrick’s responsibilities include block market making and transition trades in ETF’s\, working with issuers on developing new and managing existing ETFs\, while trading an ETF’s for a firm that see’s 20% of retail ETF volume in the United States. \nOver the last 7 years\, Patrick and Rich Mauro have built a Fixed Income ETP franchise\, providing transparent trading solutions for clients with an emphasis on total cost of execution. Patrick was Europe the last 3yrs helping expand the businesses there. Known for its global scale\, competitive liquidity\, and transparent execution service\, Virtu’s disclosed and customized offerings are built on the quality of its liquidity and accountability to the relationship. Over the past decade\, Virtu has become one of the largest global liquidity providers in equities\, ETPs\, foreign exchange\, fixed income\, and commodities such as energy\, metals\, and softs. \nPatrick started his career in ETP’s at their “birthplace” on American Stock Exchange in 2000. Over the next 11 years at Goldman Sachs\, Patrick participated in the rapid expansion of ETP’s as a trader on both the AMEX and NYSE. During that time\, his initial focus on domestic and international equities shifted to the fixed income and commodity space as his role evolved from low-latency\, principal trading to client facilitation. \n\n\n\n\n\n\nVirtu is a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and innovative\, transparent trading solutions to its clients. Leveraging its global market making expertise and infrastructure\, Virtu provides a robust product suite including offerings in execution\, liquidity sourcing\, analytics and broker-neutral\, multi-dealer platforms in workflow technology. Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes\, including global equities\, ETFs\, foreign exchange\, futures\, fixed income and a myriad of other commodities. In addition\, Virtu’s integrated\, multi-asset analytics platform provides a range of pre and post-trade services\, data products and compliance tools that clients rely upon to invest\, trade and manage risk across global markets.\n\nClose×\n\n\n\n\n\nJohnathan is a writer and editor with more than 20 years of experience as a journalist\, plain language web writer\, and marketing communications specialist. He got his start in Washington\, D.C.\, covering Congress and the courts for various trade publications. In this role\, he reported on regulatory news of interest to various industry audiences. As a web writer in the federal space\, Johnathan consulted with clients on usability\, accessibility\, plain language principles\, and the importance of centering the user in digital communications. Johnathan also writes about alternative investments and closed-end funds\, crafting thought leadership stories\, reports\, newsletters\, and social media posts.\n\n\n\n\n\nClose×\n\n\nAaron represents investors and institutions in cases involving fiduciary misconduct\, securities violations\, control contests and shareholder rights\, with a special focus on matters involving asset managers and activist opportunities.\nHe formerly defended financial services firms and public companies at Skadden\, Arps\, Slate\, Meagher & Flom.\nAaron maintains an active pro bono practice\, and has represented clients from local pizza shops to non-profit board members.\nHe writes frequently about developments relating to investment funds and corporate governance.\n\n\n\n\n\nMorris Kandinov LLP is an investor-focused law firm with extensive experience in corporate governance matters\, securities violations\, and shareholder activism.\n\nClose
URL:https://aicalliance.org/aica-event/aica-2025-bdc-forum/
LOCATION:Cafe 55\, 55 Water St\, New York\, 10038\, United States
CATEGORIES:Past Events
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