Keynote panel: GP stakes – what are the market drivers? Is the market growing faster than funds can invest?

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Keynote panel: GP stakes – what are the market drivers?  Is the market growing faster than funds can invest?

Keynote panel: GP stakes – what are the market drivers? Is the market growing faster than funds can invest?

About the speakers
  • Avshalom Kalichstein
    Avshalom Kalichstein
    CEO at Hunter Point Capital
    Mr. Kalichstein co-founded Hunter Point Capital and serves as its Chief Executive Officer. Prior to HPC, Mr. Kalichstein was a Managing Principal at Easterly LLC (“Easterly”), a firm investing in and building investment management businesses, including a government properties-focused REIT, a $200 million SPAC, and several privately held investment firms. Before Easterly, Mr. Kalichstein launched Solel Investment Group, which created joint ventures to invest over $1 billion in consumer and commercial credit opportunities. Previously, Mr. Kalichstein was a Managing Director at J.C. Flowers & Co. (“J.C. Flowers”), where he helped build a pre-eminent financial services-focused private equity firm, ultimately growing its AUM to over $10 billion during his tenure. Prior to joining J.C. Flowers, he served as Head of Corporate Development at Shinsei Bank in Japan. Mr. Kalichstein began his career in the financial institutions group at Goldman Sachs & Co. and has been engaged in over $8 billion of principal transactions in the financial services sector. Mr. Kalichstein earned his B.A. in Mathematics and Economics, magna cum laude, from Brown University.
  • James Zenni
    James Zenni
    Founder, President & CEO at ZCG
    Mr. Zenni is the Founder, President, and Chief Executive Officer of Z Capital Group (“ZCG”) and is responsible for all portfolio management and business operations. Mr. Zenni has had substantial success investing in private equity and credit strategies for almost 30 years. ZCG is a leading, privately held merchant bank comprised of private markets asset management, business consulting services, technology development and solutions with approximately $5.2B of AUM. ZCG has a global team comprised of over 375 professionals. Mr. Zenni heads ZCG’s private equity investment strategy and is Chairman of all portfolio company boards. Mr. Zenni is a graduate of Xavier University, attended Xavier University Graduate School of Business and University of Vienna (Austria) School of Economics and Business Administration.
  • Neil	Randall
    Neil Randall
    Managing Director at Teacher Retirement System of Texas
    Neil Randall is the Managing Director of the Private Equity team at the Teacher Retirement System of Texas. In this role, he has primary responsibility for ~$30 billion Private Equity portfolio, is the Chair of the Private Equity Investment Committee, and serves on the TRS-wide Management Committee. Neil was a director on the ILPA Board of Directors from 2014-2021, serving as Chair from 2019-2021. Prior to joining TRS in 2007, Neil was at Convergent Investors, an early stage venture capital firm. At Convergent, he focused on evaluating new investments as well as portfolio management, which included acting as the Director of Business Development for one of its portfolio companies, TeraVicta Technologies. Previously, he also worked in the Enterprise Systems Group at Dell. He received a BBA and MS, Finance from Texas A&M University.
  • Jeffry Brown
    Jeffry Brown
    CEO/CIO at Azimut Alternative Capital Partners
    Jeff serves as the Chief Executive Officer of AACP and has over two decades of investing, due diligence and operating management experience in the alternative asset management industry. Prior to joining AACP, Jeff was a Managing Director at Dyal Capital Partners, joining in its early days of formation. Mr. Brown founded and for five years led Dyal’s Business Services Platform. Prior to Dyal, Jeff was a Senior Managing Director at Bear Stearns Asset Management (“BSAM”). During his tenure at BSAM, he was the Chief Development Officer and led the strategic expansion of the Firm from $23bn in AUM to $55bn in AUM over a four-year time period. Jeff also served as Chief Marketing Officer and Global Head of Institutional Sales at BSAM. Prior to joining BSAM, Mr. Brown held senior roles at Morgan Stanley Asset Management. Mr. Brown holds a JD from the University of Wisconsin Law School, an MBA from UCLA’s Anderson School of Management and a BA from the University of Wisconsin.
  • Thomas Liaudet
    Thomas Liaudet
    Global Head of GP Advisory at Campbell Lutyens
    Thomas joined Campbell Lutyens in 2007. He is Global Head of GP Capital Advisory and also Global Head of Business Development and a member of the Management Committee. Since joining the firm, Thomas has advised on a wide range of landmark transactions on behalf of private markets fund managers and institutional investors. Across his career, he has advised on over 100 mandates involving minority investments, secondary transactions and global fundraisings, including several global award winning transactions and combining in excess of $45 billion of capital transacted/invested. Prior to joining Campbell Lutyens, Thomas focused on M&A advisory and secondaries at merchant bank Parkmead Group (previously Interregnum plc). He was an Associate Director at UBS Capital, the bank’s captive private equity fund, investing into North American and European companies. He also worked at Kennet Partners, making minority investments in technology firms. Thomas graduated with a BS from the University of Paris Dauphine and received his master’s degree from HEC Lausanne. He is a trustee for two veterans focused charities, chairing the French War Graves Commission for the UK.
  • Michael Lunt
    Michael Lunt
    Managing Director at RidgeLake Partners
    Mr. Lunt co-leads day-to-day operations and all aspects of investment activities at RidgeLake Partners, LP (RidgeLake). He also serves as the portfolio manager of a legacy GP stakes portfolio for OAPC, a co-advisor of RidgeLake. Prior to joining OAPC in 2006, Mr. Lunt was a corporate partner at Warner Norcross & Judd LLP, where he concentrated in mergers and acquisitions and corporate finance, as well as serving on the firm’s Management Committee. Mr. Lunt received a Juris Doctor from the University of Illinois and a Bachelor of Arts in Economics from Miami University (Ohio).

Key takeaways