Support MI up for updates Subscribe up for updates
About Research Events Centers Newsroom Currency of Ideas
Global Conference 2013 | Program by Track Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013 Global Conference 2013
Register Online Now

Program - By Finance Track:

Sunday, April 28, 2013

  9:00 AM - 11:30 AM

Family Program (By invitation only)

Speakers:
Alexander Friedman , Global Chief Investment Officer, UBS AG
Michael Milken , Chairman, Milken Institute
Randy Ottinger , Co-Founder and Executive Vice President, Kotter International
Anthony Pritzker , Managing Partner, Pritzker Group
Josef Stadler , Global Head UHNW, UBS AG
Thomas Tierney , Chairman and Co-Founder, The Bridgespan Group

Moderator:
Richard Ditizio , Executive Director, Business and Program Development, Milken Institute

A special private gathering with a group of prominent families to discuss some of the most important issues facing them today - from family dynamics and creating a meaningful legacy to intergenerational succession planning. This discussion offers a select group of influential individuals, families and philanthropists firsthand information in an off-the-record, roundtable setting. The program will include valuable insights from financial executives and thought leaders as well as family members themselves.

  11:00 AM - 4:30 PM

Global Capital Markets Advisory Council (By invitation only)

Speakers:
Tony Blair , Former Prime Minister, Great Britain and Northern Ireland
Eric Cantor , U.S. Congressman and Majority Leader
Jared Carney , CEO, Lightdale, LLC
Bob Casey , U.S. Senator
David Cote , Chairman and CEO, Honeywell; Steering Committee Member, Campaign to Fix the Debt
Richard Ditizio , Executive Director, Business and Program Development, Milken Institute
Scott Garrett , U.S. Congressman
Thorsten Heins , President and CEO, BlackBerry
Michael Klowden , CEO, Milken Institute
Andrew N. Liveris , President, Chairman and CEO, The Dow Chemical Company
Jack Markell , Governor, State of Delaware; Chairman, National Governors Association
Michael Milken , Chairman, Milken Institute
Rupert Murdoch , Chairman and CEO, News Corporation
Aram Shishmanian , CEO, World Gold Council
Robert Thomson , CEO, News Corporation Publishing Group

  1:30 PM - 3:30 PM

Capital Access Forum: Framing the Issues -- Overcoming Challenges and Identifying Opportunities(By invitation only)

Speakers:
Ken Lombard , President, Capri Urban Investors LLC; Partner, Capri Capital Partners LLC
Michael Milken , Chairman, Milken Institute
John Rogers Jr. , Founder, Chairman and CEO, Ariel Investments LLC
Kneeland Youngblood , Founding Partner, Pharos Capital Group

Moderator:
Paul Irving , President, Milken Institute

Monday, April 29, 2013

  7:30 AM - 9:00 AM

Corporate and Investor Roundtable Hosted as Part of the Milken Institute's Access to Global Capital Initiative (By invitation only)

Introduction By:
Mindy Silverstein, Managing Director, Milken Institute

Speakers:
Tony Blair , Former Prime Minister, Great Britain and Northern Ireland
Paul Coulson , Chairman, Ardagh Group
H.E. Paul Kagame , President of the Republic of Rwanda
Seth Merrin , Founder and CEO, Liquidnet
William Pearce , Acting Head, Investment Funds Department, OPIC
Thomas Perrelli , Partner, Jenner & Block; Former Associate U.S. Attorney General

Moderator:
Cheryl Strauss Einhorn , Financial Journalist; Adjunct Professor in Business and Journalism, Columbia University

This session will convene representatives from leading corporations, investors and subject matter experts to discuss important topics, trends and strategies related to foreign direct investment. Among the issues to be explored are quality governance, regulatory challenges, transparency and the Foreign Corrupt Practices Act. The Milken Institute seeks to enable the seamless flow of capital and commerce around the world by connecting capital-rich multinational firms and investors with countries willing to implement best practices to create, accelerate and sustain long-term economic growth and development through the Access to Global Capital Initiative.

  8:00 AM - 9:15 AM

Global Markets in Uncertain Times

Speakers:
Madelyn Antoncic , Vice President and Treasurer, The World Bank
Willem Buiter , Chief Economist, Citigroup
Terry Duffy , Executive Chairman and President, CME Group
Mohamed El-Erian , CEO and Co-Chief Investment Officer, PIMCO
Ken Griffin , Founder and CEO, Citadel

Moderator:
Alexander Friedman , Global Chief Investment Officer, UBS AG

Politics is on the minds of global investors and economic observers. In the United States, debt pressures, ideology and other factors led to the struggle over sequestration, yet the recovery is progressing. Europe is still afloat, but the lifeboat is prone to leaks. In China, a new leadership group is trying to revitalize economic growth amid the pressure of rising needs - which implies growing consumer demand. At the start of the 2013 Global Conference, we'll bring experience and judgment to bear on the unknowns of the global economy and markets. Will central banks modify their activist stance? Where are costs rising or falling, and will that change the direction of capital flows? How long can inflation stay tame? Are the next big opportunities in minerals, manufacturing or technology?

Read the blog post

  9:30 AM - 10:30 AM

Global Financial Regulation

Speakers:
James Barth , Senior Finance Fellow, Milken Institute; Lowder Eminent Scholar in Finance, Auburn University
Bob Corker , U.S. Senator
Carey Lathrop , Managing Director and Head of Global Credit Markets, Citi
Kevin Lynch , Vice Chairman, BMO Financial Group
Thomas Perrelli , Partner, Jenner & Block; Former Associate U.S. Attorney General

Moderator:
Jaret Seiberg , Managing Director and Senior Policy Analyst, Guggenheim Partners

As countries implement new regulations in response to the global financial crisis, will safer and sounder markets be the result? Or just more burdens and costs? What impact can we expect on financial institutions, lending, the flow of capital around the world and, eventually, the global economy? Has the too-big-to-fail problem been solved, or should the giants simply be broken up? Is there a place for a global financial regulator? And what should be done about the shadow banking system - the institutions that wield influence but go largely unregulated? Our panel will delve into whether there are more effective ways to oversee financial markets than current methods.

  9:30 AM - 10:30 AM

Crowdfunding for Start-Ups and Small Business

Speakers:
Chris Brummer , Senior Fellow, Milken Institute; Professor of Law, Georgetown University Law Center
Candace Klein , Founder and CEO, SoMoLend
Benjamin Miller , Co-Founder, Fundrise
Babak Nivi , Co-Founder and President, AngelList
Danae Ringelmann , Co-Founder, Indiegogo

Moderator:
Daniel Gorfine , Director, Financial Markets Policy, and Legal Counsel, Milken Institute

The concept of crowdfunding, seen as the next phase in the democratization of finance, has captured the attention of investors, entrepreneurs, technologists and the media. It can be defined as a means of raising capital for a project or enterprise through the pooling of numerous, small contributions or investments from the public, usually via the Internet. Last year, entrepreneurs around the world raised an estimated $2.8 billion through crowdfunding. The bipartisan Jumpstart Our Business Startups(JOBS) Act, passed in the U.S. in 2012, seeks to open the market for securities crowdfunding, enabling average investors to purchase debt and equity in enterprises ranging from startup companies and mom and pop shops to real estate. Additionally, the law lifts the ban on general solicitation, allowing companies to mass market securities to accredited investors, which could spur a sea change in capital raising. Join us for a discussion about maximizing the promise of crowdfunding while minimizing risks to investors and entrepreneurs.

  9:30 AM - 10:30 AM

Financial Inclusion: Solutions for the Global 99 Percent

Speakers:
Bob Annibale , Global Director, Citi Microfinance and Community Development
Jane Newman , International Director, Social Finance
Joanna Rees , Managing Director, Endeavor Catalyst LP

Moderator:
Arthur Wood , Founding Partner, Total Impact Advisors

Despite the technological progress, economic growth and the efforts of the global community, extreme poverty persists in many regions, equating not only to a moral wrong but undermining peace and security. The challenge is made more difficult by the likelihood that the world's population will swell by half before it stabilizes. To narrow gaps in income, education and health while also conserving our natural environment will require a technological revolution and the means to finance it, along with a leap in labor productivity. The task is complex and ambitious, involving the application of science, creative business models, smart incentive structures, the customization of technology to local conditions and geographic and cultural awareness. This roundtable will explore platforms for financing advances in global development.

  9:30 AM - 10:30 AM

Leaning In or Pushed Out: Where Are the Senior Women in Business?

Speakers:
Richard Ditizio , Executive Director, Business and Program Development, Milken Institute
Margery Kraus , Founder and CEO, APCO Worldwide
Sallie Krawcheck , Former President, Global Wealth & Investment Management Division, Bank of America
Lauren Leichtman , Founding Principal and CEO, Levine Leichtman Capital Partners

Moderator:
Liz Claman , Anchor, Fox Business Network

Only 21 of the Fortune 500 CEOs are women, despite decades of professed work around diversity and efforts to grow the ranks of senior women in corporate America. With women accounting for more than half of college graduates, companies expend great energy trying to bring top female candidates into their organizations but are failing at creating paths to the C-suite. Some 40 years after the Women's Movement, we seem mired in place. What isn't working? Is the issue particularly acute on Wall Street, with its old boys' network? How do we finally change the trajectory? Are there programs in finance that prepare the next generation of female leaders to assume greater responsibility? How can we entrench and replicate successful recruitment, retention and promotion programs, and how can we enlist men as agents of change? Join us for a solutions-based conversation.

  10:45 AM - 11:45 AM

Pensions: The Real Fiscal Cliff

Speakers:
Jeffrey Brown , Karnes Professor of Finance and Director, Center for Business and Public Policy, University of Illinois
Brian Pellegrino , Chief Investment Officer, United Parcel Service
Larry Schloss , Deputy Comptroller for Asset Management and Chief Investment Officer, New York City Retirement Systems
David Villa , Chief Investment Officer, State of Wisconsin Investment Board

Moderator:
Bradley Belt , Senior Advisor, Milken Institute; Chairman and Co-Founder, Palisades Capital

Although Congress narrowly averted a dive over the fiscal cliff this year, both the public and private sectors face staggering future obligations to retirees. Let's call this the "pension cliff." The scale of the problem is alarming. For state and local governments, the funding gap may total $3 trillion. Inexorable demographic trends threaten Social Security, and its disability program faces insolvency as soon as 2016. Private pension plans are also dealing with record deficits, particularly so-called Taft-Hartley plans. According to a recent report by the Treasury and Labor departments and the Pension Benefit Guaranty Corp., more than half of these plans are classified as endangered or in critical status. (cq terms) This panel will assess the implications for retirees, taxpayers and investors, as well as explore what needs to be done to keep the U.S. from falling off the "pension cliff."

Read the blog post

  10:45 AM - 11:45 AM

The Future of Trading

Speakers:
Bart Chilton , Commissioner, U.S. Commodity Futures Trading Commission
Terry Duffy , Executive Chairman and President, CME Group
Jamil Nazarali , Head of Citadel Execution Services, Citadel Securities
Lou Salkind , Managing Director and Executive Committee Member, The D. E. Shaw Group

Moderator:
Chris Brummer , Senior Fellow, Milken Institute; Professor of Law, Georgetown University Law Center

Advances in information technology and the proliferation of open networks are decentralizing and democratizing financial markets. As access to the markets expands, a revolution is underway in how transactions are executed, information is processed and disseminated, and capital is allocated. With high-frequency, algorithmic trading accounting for more than half of daily volume and new technology taking ever more trades off exchanges, a dramatic shift is being felt across the entire financial spectrum, including commodities, derivatives, equities and debt. Our panel will discuss the new trading terrain, its effects on the range of participants and which policies can ensure transparency and confidence in the markets.

  10:45 AM - 11:45 AM

Impact Investing: The Art of the Deal

Speakers:
Dave Chen , CEO, Equilibrium Capital Group
En Lee , Director, Impact Investment Exchange Asia
Sari Miller , CEO, Sarjay, Inc.; Angel Investor, LeapFrog Investments
Eytan Stibbe , Founding Partner, Vital Capital Fund

Moderator:
Betsy Zeidman , Adjunct Fellow, Milken Institute

In recent years, impact investing has grown beyond a niche concept to emerge among mainstream investors and the high net worth community. Some of this stems from the challenge of finding returns among the usual investments in the current economy. World events play a role in heightening interest, as do concerns among the next generation of high net worth investors with the nonfinancial consequences of their ventures. A growing number of deals generate both financial returns and social or environmental impact. But how are the deals actually done? How can you make money and have impact? On this panel, experienced impact investors will delve into examples. What makes these deals work? What should investors realistically expect? What challenges should they anticipate?

  10:45 AM - 11:45 AM

Capital Access Forum: Moving Forward -- New Relationships and New Sources (By invitation only)

Speakers:
Ken Lombard , President, Capri Urban Investors LLC; Partner, Capri Capital Partners LLC
John Rogers Jr. , Founder, Chairman and CEO, Ariel Investments LLC
Kneeland Youngblood , Founding Partner, Pharos Capital Group

Moderator:
Paul Irving , President, Milken Institute

  12:00 PM - 1:45 PM

Global Capital Markets Advisory Council Lunch (By invitation only)

  2:15 PM - 3:15 PM

Debt and the Deficit: What's Really on the Table?

Speakers:
Bob Corker , U.S. Senator
David Cote , Chairman and CEO, Honeywell; Steering Committee Member, Campaign to Fix the Debt
Maya MacGuineas , Head, Campaign to Fix the Debt; President, Committee for a Responsible Federal Budget
Peter Orszag , Vice Chairman, Corporate and Investment Banking, Citigroup; former Director, Office of Management and Budget

Moderator:
Steven Rattner , Chairman, Willett Advisors; former Counselor and Lead Auto Advisor to the U.S. Secretary of the Treasury

With outsize debt putting the stability of credit markets and the pace of economic growth at risk, will Americans embrace shared sacrifice to set the country on a path toward fiscal health? Or is the problem essentially the result of gridlock in Washington? And what does "shared sacrifice" actually mean? Who will bear the heavier burden: the rich, the elderly, the middle class? Are Simpson and Bowles still relevant? Our panel will examine the economics and politics around our accumulating public debt and annual deficit, with an eye toward palatable and realistic solutions. Can we grow our way out of the mess? How will we cope with the twin hazards of graying demographics and healthcare inflation? Back to the credit markets: Are Treasuries as safe as they seem?

  2:15 PM - 3:15 PM

Evolution of Hedge Fund Investing: Institutional Investors Go Direct

Speakers:
Francisco Arcilla , Head of External Managers, AXA Investment Managers
Mattias Bylund , Chief Risk Officer, Third Swedish National Pension Fund
Ed Robertiello , Senior Portfolio Manager, Absolute Return Strategies, CalPERS
Jan Soerensen , Head of Hedge Funds, PGGM Vermogensbeheer B.V.

Moderator:
Damien Loveday , Global Head of Hedge Fund Manager Research, Towers Watson

Hedge funds have gone mainstream in the eyes of large institutional investors. Institutions globally have become so comfortable that many are bypassing the fund of funds approach and have begun building their own portfolios of hedge fund investments. What results are they seeing from these direct relationships? Our panel of seasoned institutional investors will discuss the role of direct hedge fund investing in their portfolios and the key considerations they face in implementation. When is it appropriate to pursue this strategy? What are the additional risks of going direct and how are they mitigated? How do their internal operations adapt to this approach and how do they measure and monitor the risks involved? What is the impact on fees? Are some managers more suited to this strategy than others? What role will advisors play in this new world?

  3:30 PM - 4:30 PM

Credit Markets: What's Next?

Speakers:
Maria Boyazny , Founder and CEO, MB Global Partners, LLC
Richard Cantor , Chief Risk Officer, Moody's Corporation; Chief Credit Officer, Moody's Investors Service
Joshua Friedman , Co-Founder, Co-Chairman and Co-CEO, Canyon Partners, LLC
Tony Ressler , Chairman of the Executive Committee, Ares Management LLC
Steven Tananbaum , Managing Partner and Chief Investment Officer, GoldenTree Asset Management
David Warren , Chief Investment Officer, Brevan Howard Credit Catalysts Fund

Moderator:
Michael Milken , Chairman, Milken Institute

In our annual look at the state of global credit markets, Institute Chairman Mike Milken and leading players will discuss a rapidly shifting landscape. This year, some observers believe we are in the early stages of the Great Rotation - a broad shift in investor preference from debt to equity that would reverse the cycle begun in 2009. Quantitative easing, a favored tool of central banks in recent years, can't last forever. Indeed, the U.S. Federal Reserve balance sheet recently crossed the $3-trillion mark, more than three times pre-crisis levels. What has that thumb on the scale done for credit quality, particularly in mortgage markets, where the Fed owns $1 trillion in debt? As central banks slow their purchasing, will corporate borrowers feel the side effects? Should we worry about the return of covenant-lite loans? Are early signs of rising default rates about to change the picture for credit availability? And what role will towering sovereign-debt levels play in fixed-income markets this year?

  3:30 PM - 4:30 PM

Central Banks: Is Quantitative Easing Becoming Quantitative Exhaustion?

Speakers:
James McCaughan , CEO, Principal Global Investors
Cliff Noreen , President, Babson Capital Management LLC
Tad Rivelle , Chief Investment Officer, Fixed Income, TCW
Aram Shishmanian , CEO, World Gold Council
Kevin Warsh , Distinguished Visiting Fellow, Hoover Institution; Former Member, Federal Reserve Board of Governors

Moderator:
David Zervos , Chief Market Strategist, Jefferies LLC

Among the monetary measures central banks have taken to address the lingering impact of the 2008 financial rupture, keeping interest rates artificially low has been a primary aim. The term "financial repression" has become associated with that policy. Such measures were launched in the hope of not only stimulating economic activity but to ease the pressure of servicing onerous public debt. Concern is growing, however, that quantitative easing has distorted markets by interfering with the proper pricing of risk and, by extension, obscuring the true cost of capital. Our panel of experts will explore the possible effects of sustained QE and the quest for financial stability. For instance, are bubbles inflating? Will these effects be similar or will they vary from market to market? What costs will long-tem financial repression impose on the Federal Reserve and other central banks? What tools can be employed as alternatives?

Tuesday, April 30, 2013

  7:00 AM - 8:30 AM

Milken Institute Investing in Africa Working Group (By invitation only)

Speakers:
Maureen Harrington , Head, International Development Group, Standard Bank of South Africa
Strive Masiyiwa , Chairman and Founder, Econet Wireless
Mina Pacheco Nazemi , Partner, Customized Fund Investment Group, Credit Suisse
Vimal Shah , CEO, BIDCO Group
Sunny Verghese , Group Managing Director and CEO, Olam International Ltd.

Moderator:
David Rice , Africa Advisor, Milken Institute; Professor, New York University

The Milken Institute's Investing in Africa Working Group is exploring ways to facilitate private-sector investment in Africa to accelerate the continent's development and spread prosperity. Members of the Working Group include active or interested investors from private equity, structured finance, venture capital, traditional banking and the corporate sector. The group will play a key advisory role and help shape the Institute's Africa agenda.

  8:00 AM - 9:15 AM

Alternative Investments

Speakers:
Joshua Harris , Co-Founder and Chief Investment Officer, Apollo Global Management, LLC
Julia Lawler , Senior Vice President, Global Investment Services, Principal Financial Group
Vinay Pande , Partner and Senior Trader, Brevan Howard US Investment Management
Wilbur Ross Jr. , Chairman and CEO, WL Ross & Co. LLC; Chairman, Invesco Private Capital

Moderator:
Andrew Whittaker , Vice Chairman, Jefferies LLC

The world of alternative investments is becoming increasingly complex, stratified and varied as investors seek protection against market swings. What are the emerging alternatives for hard-to-value assets? Will there be a continued exit from private equity toward index products, structured credit and commodities, which might have the advantage of greater liquidity? As demand rises for offbeat assets, will returns continue to decline? How long will quantitative easing fuel growth in REITs? Will shifts in the carry trade distort alternative investment markets and returns? Should diversification be based on the subsets of the asset class or the strategies of intermediaries that manage them in hedge funds, ETFs and index funds? This panel will explore the outlook for alternative investments in a prolonged low-interest-rate environment.

  8:00 AM - 9:15 AM

Galvanizing Global Growth: Lessons from Milken Institute Financial Innovations Labs

Speakers:
Alice Albright , CEO, Global Partnership for Education
Lawrence Coben , Executive Director, Sustainable Preservation Initiative
Craig Courtney , Founder and Managing Partner, Tamarack Partners
David Ferreira , Managing Director for Innovative Finance and Head of Washington, D.C., Office, GAVI
Kari Stoever , Vice President, External Affairs, Aeras

Moderator:
Caitlin MacLean , Associate Director, Financial Innovations Labs, Milken Institute

Meeting the goals of global development, from improved health care to increased access to capital, requires a combination of aid and investment. Yet in frontier markets, public-sector funding has been limited and not entirely effective, while the private sector has been hesitant to engage. To overcome these constraints and attract a wider spectrum of investors, innovative models have been developed that build ties with foundations, governments, large financial institutions and corporations. From public-private investment funds to credit enhancements and donor-driven pull mechanisms, these new approaches can help to bridge funding gaps and strengthen local markets. The panel will present investment-led strategies that generate both social and financial returns while stabilizing the communities where investors have assets at work.

  9:30 AM - 10:30 AM

New Directions in Private Equity

Speakers:
Leon Black , Chairman and CEO, Apollo Global Management, LLC
David Bonderman , Founding Partner, TPG Capital
Jonathan Nelson , Founder and CEO, Providence Equity Partners
Jonathan Sokoloff , Managing Partner, Leonard Green & Partners, LP
Scott Sperling , Co-President, Thomas H. Lee Partners, LP

Moderator:
Maria Bartiromo , Anchor, CNBC

After a flat 2012 in the private equity market, competitive deal-making has intensified worldwide. Aging assets requiring exit, restructuring and rebirth are waiting to be sold. The current period of low-cost financing, strong stock markets and accelerating growth bodes well for new directions in the industry. However, recent moves by banking regulators, including a redefinition of highly leveraged transactions, could dampen underwriting by financial institutions that participate in buyouts or refinancing leveraged firms' debt. The costs of fixing companies could rise, and such investments could be deterred. Our panel will discuss how the PE industry is adjusting to change in the regulatory and fiscal environments. What sector and geographic trends are fueling these new directions in private equity?

Read the blog post

  9:30 AM - 10:30 AM

The Future of Money: What's in Your Digital Wallet?

Speakers:
Eric Dunn , Senior Vice President, Commerce Network Solutions, Intuit
Paul Galant , CEO, Citi Enterprise Payments
Mark Lavelle , Senior Vice President, Strategy and Business Development, PayPal
Ed McLaughlin , Chief Emerging Payments Officer, MasterCard

Moderator:
Lauren Lyster , Co-Host, "Daily Ticker," Yahoo! Finance

Money is by nature symbolic - representing the erratic value of goods and services - but will it become entirely electronic? Some digital evangelists, touting the frictionlessness of cashlessness, think so. E-transactions are burgeoning along with the capabilities and reach of the Internet. Software engineering has fused with financial engineering and online communities are creating new forms of digital currency. Yet cash in circulation is also rising. Hand-held currency is an easy, uncomplicated means to know what you have and get what you want, which is all the more appealing in an era of economic insecurity and bitcoin chaos. Why rely on intermediaries and invisible transactions? Why trust if one can't readily verify? This panel will explore the forces that are changing money and, at the same time, keeping it in its traditional forms.

  9:30 AM - 10:30 AM

U.S. Tax Reform: What's New, What Would It Mean?

Speakers:
Jared Bernstein , Economic Policy Fellow, Milken Institute; Senior Fellow, Center on Budget and Policy Priorities; Former Chief Economist to Vice President Joe Biden
Mark Everson , Vice Chairman, alliantgroup, LP; former Commissioner of Internal Revenue
Nancy Kopp , Treasurer, State of Maryland
Phillip Swagel , Senior Fellow, Milken Institute; Professor, University of Maryland School of Public Policy

Moderator:
Liz Claman , Anchor, Fox Business Network

Public discussion of tax reform frequently focuses on individual and corporate rates but ignores broader issues that could have significant effects on markets, state finances and the overall economy. From the treatment of foreign real estate investors to MLPs and REITs, from municipal bonds to state tax deductions, these factors can shape how governments fund their programs, investors formulate strategies and companies structure operations. Our panel will examine a range of tax policy proposals with a focus on their impact across the economy.

  9:30 AM - 10:30 AM

Portfolio Construction Strategies: A New Way to Approach Investment Risk (By invitation only)

Introduction By:
Katie O'Reilly, Director, Business and Program Development, Milken Institute

Speakers:
Dave Reichart , Portfolio Advisor, Principal Management Corp.
Lisa Shalett , Former Chief Investment Officer, Merrill Lynch Global Wealth Management

This session will highlight a new way to view portfolio construction, focused on managing risks rather than generating returns. Economies and markets have evolved, and whereas traditional techniques once delivered diversification levels and returns sufficient to meet investment objectives, they may now present limitations. We will discuss a different approach to portfolio construction that addresses common risks such as market volatility, inflation and longevity. Abandoning the traditional style box framework, we'll also look at a variety of investment strategies and their effectiveness, showing how risk-based approaches can support better portfolio outcomes, defined as being more consistent with less volatility.

  10:45 AM - 11:45 AM

Cash on the Sidelines: How to Unleash $30 Trillion

Speakers:
Alexandra Lebenthal , President and CEO, Lebenthal & Company
Mustafa Sagun , Chief Investment Officer, Principal Global Investors
Max Stone , Managing Director and Executive Committee Member, The D. E. Shaw Group
James Zelter , Managing Partner, Apollo Capital Management; CEO, Apollo Investment Corp.

Moderator:
Joe Reece , Managing Director, Investment Banking, and Global Head, Equity Capital Markets, Credit Suisse

There is, by some estimates, at least $30 trillion sitting on the sidelines globally earning less than 1 percent. Risk-off sentiment has kept most of this liquidity out of the markets - with no apparent strategy or timeframe for being channeled into more productive use and better returns. Even with relatively benign inflation, the real return on this staggering amount of capital is negative. In 2012, the equity markets saw greater outflows than even 2008, the crux of the financial crisis. Investors bypassed double-digit gains as a result. What are they thinking now? Are new financial models needed? Are new allocation strategies coming? Will the fatigue of low returns raise investors' risk tolerance, or will the lingering hangover from the crisis keep them paralyzed? With corporations, institutional investors and sovereign wealth funds still hoarding cash, our panel will consider what might trigger the deployment of this capital toward building the future.

Read the blog post

  10:45 AM - 11:45 AM

Fueling American Entrepreneurship

Speakers:
Steve Case , Chairman and CEO, Revolution; Co-Founder, America Online
Patrick McHenry , U.S. Congressman
Laura Roden , Founder and Managing Director, VC Prive LLC
Peggy Wallace , Managing Partner, Golden Seeds
Peter Williams , CEO, ACE Group, Inc.

Moderator:
Sean Greene , Former Associate Administrator for Investment and Innovation, Small Business Administration

In the post-financial crisis economy, start-ups and small businesses have struggled to access the capital necessary to create jobs. Credit markets have tightened, traditional early-stage equity investors are risk-averse and public market IPO activity has contracted. What can we do to improve the financial landscape for launching businesses? What changes to securities laws and innovative approaches, whether technology, government, or investor-based, will free up capital, and what can be done to develop entrepreneurial hubs and ecosystems across the country?

  10:45 AM - 11:45 AM

The Activist Investor

Speakers:
Michelle Edkins , Global Head of Corporate Governance and Responsible Investment, Black Rock
Ed Garden , Chief Investment Officer and Founding Partner, Trian Fund Management, LP
Clifton Robbins , Founder and CEO, Blue Harbour Group
Barry Rosenstein , Founder and Managing Partner, JANA Partners
Peter Weinberg , Founding Partner, Perella Weinberg Partners

Moderator:
Anne Sheehan , Director, Corporate Governance, California State Teachers' Retirement System (CalSTRS)

Shareholders are demanding more from managements and boards - not just as overseers, but in an effort to increase the value of the enterprise. Amid the backdrop of record-low interest rates, pent-up M&A demand and stacks of cash on corporate balance sheets, these activists are being backed by new capital. In addition, more companies are working with activist investors to identify opportunities to create and unlock substantial shareholder value. This panel explores the recent rise in investor engagement and its impact on all stakeholders.

  10:45 AM - 11:45 AM

Global Models for Financing America's Infrastructure

Speakers:
Samara Barend , Vice President and Development Director, AECOM Capital
Sarah Clark , President and CEO, Partnerships BC
Sean Glodek , Director and Board Member, Russian Direct Investment Fund
Stephen Goldsmith , Daniel Paul Professor of Government and Director, Innovations in American Government Program, Harvard Kennedy School of Government
William Reid , Senior Managing Director and Head of Infrastructure, Guggenheim Investments

Moderator:
Dale Bonner , Senior Advisor, Milken Institute; Chairman, Plenary Group USA

What are the long-term implications for the United States of investing less than 2 percent of GDP in public infrastructure while other nations allocate far more? (For China, it's 9 percent.) From roads, bridges and sewers to airports and schools, the need is staggering in financial terms. One recent estimate - $50 trillion - is greater than the total of municipal bonds outstanding. Are enough investors and taxpayers out there? Politicians, bankers, pension funds and others have designed public-private partnerships and infrastructure trusts to supplement the tax-exempt market, but the results have been mixed. Does the United States need an infrastructure bank? What can we learn from financing successes in other parts of the world? Taking a global view, our panel will set the foundation for solutions.

  10:45 AM - 11:45 AM

Africa: Opportunities for Business and Investment

Speakers:
Paul Hinks , CEO, Symbion Power; Chairman, Corporate Council on Africa
Jay Ireland , President and CEO, GE Africa
Sam Nwanze , Chief Investment Officer, Heirs Holdings
V. Shankar , Group Executive Director and CEO, Europe, Middle East, Africa and Americas, Standard Chartered Bank
Seth Terkper , Minister of Finance and Economic Planning, Republic of Ghana

Moderator:
Ernest Wilson III , Dean and Walter H. Annenberg Chair in Communication, Annenberg School for Communication and Journalism, University of Southern California

Africa has raised its investment profile over the last decade, benefiting from an improving macroeconomic environment, reductions in armed conflict and the spread of democratic institutions. Although the surge of global capital flowing to Africa has been concentrated in natural resources, there are exciting opportunities in renewable energy, infrastructure, agriculture and education. Despite measurable progress, however, Africa is still grappling with challenges that include the need for higher-quality workforce training, more effective partnership models and new ways to facilitate access to capital.

  10:45 AM - 11:45 AM

Financing the Future of Bioscience and Pharma

Speakers:
Jodi Black , Deputy Director, Division of Extramural Research Activities, NHLBI, National Institutes of Health
Louis DeGennaro , Executive Vice President and Chief Mission Officer, Leukemia & Lymphoma Society
Rajiv Kaul , Portfolio Manager, Select Biotechnology Portfolio and Advisor Biotechnology Fund, Fidelity Investments
Matthew Perry , Portfolio Manager, BVF Partners L.P
Greg Simon , CEO, Poliwogg; Board Member, FasterCures

Moderator:
Melissa Stevens , Deputy Executive Director, FasterCures

High-risk, long-term investments are needed to turn medical innovations into lifesaving therapies. However, an industry-wide funding gap for early-stage drug development coupled with a retreat by venture investors from all but late-stage life sciences have created the need for new inventive, sustainable funding models. In the last year, many of these approaches -- from novel public-private partnerships to highly leveragable venture philanthropy investments to a new breed of institutional fund managers -- have come into their own, with early data supporting an optimistic view of what's ahead. There is also a growing movement to apply nontraditional models such as crowdfunding as a disruptive force in biotech. How are these models improving the risk-return ratio for early-stage research, making it a more attractive opportunity? What are the pitfalls? How does the involvement of philanthropic and/or government funding create leverage and attract greater private investment?

  2:30 PM - 3:30 PM

A Conversation With Gary Becker, David Rubenstein and Robert Rubin

Speakers:
Gary Becker , Nobel Laureate; Professor of Economics and Sociology, University of Chicago
Robert Rubin , Co-Chairman, Council on Foreign Relations; former U.S. Treasury Secretary

Moderator:
David Rubenstein , Co-Founder and Co-CEO, The Carlyle Group

In this session, Carlyle Group co-founder David Rubenstein interviews former U.S. Treasury Secretary Robert Rubin and Nobel laureate economist Gary Becker about global economic trends, public finance and the capital markets. Join us for a multifaceted discussion among three renowned leaders of finance.

Read the blog post

  2:30 PM - 3:30 PM

Mid-Market Private Equity

Speakers:
Lauren Leichtman , Founding Principal and CEO, Levine Leichtman Capital Partners
Brian Reynolds , Managing Partner, Chatham Capital
Ted Virtue , CEO, MidOcean Partners
Barry Volpert , Co-Founder and CEO, Crestview Partners
Kneeland Youngblood , Founding Partner, Pharos Capital Group

Moderator:
Adam Sokoloff , Managing Director and Global Head of Financial Sponsors Group, Jefferies LLC

The last quarter of 2012 saw a 20 percent annual increase in the value of middle-market M&A transactions after a long, flat period since the start of the credit crunch and recession. The last bull market cycle in M&A peaked in 2007. With middle-market private equity firms becoming more active acquirers, are we now positioned for a recovery in restructurings and turnarounds? The assembled experts will discuss what sectors, traditional for private equity and otherwise, are likely to benefit from the next wave. How will corporate, cross-border and financial buyers divide the market? What's the trend in lending, and will CLOs and business development companies maintain their prominent roles? Will tax code uncertainties and worries about public deficits curb activity?

  2:30 PM - 3:30 PM

The Enterprise Strikes Back! Is Corporate or Consumer Technology a Better Bet for VC and Growth Investors?

Speakers:
Paul Barber , Managing General Partner, JMI Equity
Paul Maeder , Co-Founder and Managing General Partner, Highland Capital Partners
Brett Rochkind , Managing Director, General Atlantic
Scott Sandell , General Partner, New Enterprise Associates, Inc.
Robert Smith , Chairman and CEO, Vista Equity Partners

Moderator:
Alec Ellison , Vice Chairman, Jefferies LLC; Chairman, Technology Investment Banking

Consumers are crazy about Apple, Google, and Facebook. But when it comes to IPO performance, valuation and revenue growth, less sexy enterprise technology has a great story to tell. Our panel of venture and private equity investors will turn a spotlight on technology market segments that have been advancing under the radar. Among them, a range of software niches, virtualization, network and cyber-security as well as opportunities surrounding big data. What's the latest in cloud computing and mobile broadband? And consumer segments won't be overlooked as we discuss e-commerce, social networking and other models in the pipeline. We'll expand your view of what's leading-edge and lucrative.

  3:45 PM - 4:45 PM

Institutional Investors: Where in the World Will Returns Come From?

Speakers:
Janet Cowell , Treasurer, State of North Carolina
Joseph Dear , Chief Investment Officer, California Public Employees' Retirement System (CalPERS)
Michael Sabia , CEO, Caisse de depot et placement du Quebec
Mauricio Wanderley , Chief Investment Officer, Fundacao Vale do Rio Doce de Seguridade Social

Moderator:
Tom Finke , Chairman and CEO, Babson Capital

What strategies are the biggest funds betting on in 2013? Our panel of top-tier institutional managers will discuss their paths to outperformance, whether based on gut feelings or algorithms. What international themes appear promising - BRIC, MIST, CIVETS, even Europe? Do certain asset classes stand out this year? At the same time, where are the caution signs flashing? What policy and regulatory issues are on their radar, even after the resolution of political uncertainties in the U.S. and elsewhere? How is trading itself evolving, and are those trends helping or hurting?

Read the blog post

  3:45 PM - 4:45 PM

Access to Global Capital: Investing in Growth

Speakers:
David Bonderman , Founding Partner, TPG Capital
Dino Patti Djalal , Indonesian Ambassador to the United States
Jay Ireland , President and CEO, GE Africa
Seth Merrin , Founder and CEO, Liquidnet
William Pearce , Acting Head, Investment Funds Department, OPIC

Moderator:
Mindy Silverstein , Managing Director, Milken Institute

Financial capital is the lifeblood of our globalized economy. The ease with which it flows across borders and markets influences the attractiveness of investment and business opportunities. Emerging and developing countries in particular hold great promise for high returns for various stakeholders -- including multinational corporations, mid-market companies, general and limited partners. The success stories of Singapore and South Korea are compelling examples of how open and competitive policy and regulatory environments can attract foreign direct investment and spur growth that not only benefits investors and stakeholders but accelerates the evolution of countries and regions into sophisticated economies. The Milken Institute's Access to Global Capital Initiative tries to advance these ideas. This session will identify current and emerging opportunities for investment, delve into the best practices of nations leading the world in attracting capital and offer insights on improving the efficiency of flows around the world.

  3:45 PM - 4:45 PM

Theory to Practice: A New Generation Transforms Impact Investing

Speakers:
Dave Chen , CEO, Equilibrium Capital Group
Matt Gee , Chief Technology Officer and Co-Founder, Effortless Energy
Tobias Schimmer , Co-Founder, UpSkill Capital
Kathleen Schindler , Co-Founder, UpSkill Capital
Claire Tramm , CEO and Co-Founder, Effortless Energy

Moderator:
Paul Irving , President, Milken Institute

The Milken Institute is proud to support the International Impact Investing Challenge, part of the growing movement among graduate business students to address large-scale global challenges. This year, we feature two IIIC teams -- Effortless Energy of the University of Chicago and UpSkill Capital of the Kellogg School -- that are converting impact investing ideas from theory to practice. Effortless Energy has developed a service contract that removes common barriers to residential energy-efficiency adoption through an innovative shared-savings model with homeowners. UpSkill Capital has created a new way to fund vocational training for young adults in India who are trapped in poverty. Join us to learn how these and other future leaders are reshaping the face of impact investing.

Read the blog post

  3:45 PM - 4:45 PM

Life Science R&D Financing: How Can Capital Collaborate? (By invitation only)

Speakers:
Louis DeGennaro , Executive Vice President and Chief Mission Officer, Leukemia & Lymphoma Society
Earle Mack , Senior Partner, Mack Co.; former U.S. Ambassador to Finland
Bernard Munos , Founder, Innothink; Senior Fellow, FasterCures
Melissa Stevens , Deputy Executive Director, FasterCures

In medical research, we talk about breaking down the silos among scientific laboratories, institutions and disciplines. Shouldn't we be doing the same with R&D financing? Our panel will discuss new markets and mechanisms that can help capital collaborate while managing risk. When the innovation baton is passed from academia, how do we ensure there is a finance partner to run with it? How can we marry the mission-driven money from foundations with the return-seeking resources of traditional investors? What new players, such as endowments and family offices, should participate?

Wednesday, May 1, 2013

  7:00 AM - 8:15 AM

Impact Investing in Israel Roundtable

Speakers:
Lorin Fife , Chairman Emeritus, Jewish Community Foundation of Los Angeles
Alan Hoffmann , CEO and Director General, Jewish Agency for Israel
Carl Kaplan , Managing Director, Koret Israel Economic Development Funds
Yaron Neudorfer , CEO, Social Finance Israel
Izzy Tapoohi , President and CEO, Israel Bonds

Moderator:
Davida Lachman-Messer , Senior Fellow, Milken Institute Israel Center

Israel's economic growth has been inadequate and shared unequally. Social cohesion is a key aspect of Israel's national security, yet charitable giving has fallen off and the new government faces growing deficits with insufficient resources to bridge dangerous social and economic gaps. To face these challenges, Israel needs a novel, flexible and efficient system to channel capital into projects with social and regional impact. In this roundtable, we will explore the use of charitable and government funds leveraged by private capital through matching and structured finance to solve pressing social, community and environmental challenges. The focus will be creating double bottom line returns via social investment funds and intermediaries and social impact bonds.

  8:30 AM - 9:45 AM

Reading the Tea Leaves: Where Are Markets Headed?

Speakers:
John Calamos Sr. , CEO and Global Co-Chief Investment Officer, Calamos Investments
Anne Casscells , Co-President and Chief Investment Officer, Aetos Alternatives Management
George Evans , Chief Investment Officer, Equities, OFI Global Asset Management
J. Todd Morley , Chairman and CEO, G2 Investment Group
John Rogers Jr. , Founder, Chairman and CEO, Ariel Investments LLC

Moderator:
Christopher Ailman , Chief Investment Officer, California State Teachers Retirement System (CalSTRS)

A year ago, few pros expected Apple to fall and the Facebook IPO to fizzle. On the other hand, it wasn't a long shot that yields would stay low and Congress would still be wrangling over fiscal issues. Our panel of investment sages will offer their analysis and opinion on the questions facing the markets, and some that aren't on the radar yet. What has changed in the world's two top economies after the U.S. election and the transfer of power in China? With uncertainty reduced and optimism rising, will PE ratios continue to climb? Or are dividends, which have staged a lively rebound since the financial meltdown, the core of a smart strategy? The market may be ready to embrace a new group of bellwethers -- names, please. Has the love of Treasuries run its course? Will risk-takers in Europe be rewarded or regretful? Will hedge funds have a good year? Which asset classes, and regions of the world, will stand out in the next 12 months?

Read the blog post

  8:30 AM - 9:45 AM

Chinese Market Culture: How Well Can You Know a Company?

Speakers:
David Bonderman , Founding Partner, TPG Capital
Howard Chao , Senior Partner for Asia, O'Melveny & Myers
Benjamin Fanger , Co-Founder and Managing Director, Shoreline Capital
John Pattar , Managing Director, CLSA Capital Partners

Moderator:
James McGregor , Senior Counselor, APCO Worldwide

Despite China's importance on the global business stage, its financial markets are rarely called investor-friendly. Companies tend to have short histories, so investors seeking track records will be frustrated. On top of that, company data is not always available or reliable in an environment that lacks transparency. Creditworthiness is sometimes influenced by political ties, especially among state-owned enterprises. Our panel will tackle the logical question: How well can you know a Chinese company? We'll discuss how financial instruments are packaged, bought and sold in China, and how they work politically as well as financially. We'll offer guidance on finding higher-quality information and consider how recent cases reflect on the prospects for greater openness and reliability as these markets mature.

  8:30 AM - 9:45 AM

Milken Institute Center for Financial Markets Roundtable (By invitation only)

  8:30 AM - 9:45 AM

Community Capital: Investing in Social Innovation

Speakers:
Tina Castro , Director, Impact Investing, The California Endowment
Sean Greene , Former Associate Administrator for Investment and Innovation, Small Business Administration
Mari Kuraishi , Co-Founder and President, GlobalGiving Foundation
Paul Pryde , Principal, Capital Access Group
Robert Rosen , Director, Executive Office and Philanthropic Partnerships, Bill & Melinda Gates Foundation

Moderator:
Glenn Yago , Senior Director, Israel Center; Senior Research Fellow; and Founder, Financial Innovations Labs, Milken Institute

If business, jobs and capital are absent, a community can't thrive. If communities can't thrive, what will fuel a vigorous and sustained national economic recovery? This panel, populated by experts in channeling capital into the the grass roots, will discuss alternative models for financing community development. Nonprofit, profit-for-purpose, and entrepreneurial approaches will be applied, with the aim of reaching many people who would otherwise be left behind. Focusing on financial products and programs that raise neighborhood prosperity, we'll draw from initiatives by the White House, the Ford Foundation, the Rockefeller Foundation, the Gates Foundation and other investors.

  10:00 AM - 11:00 AM

Evolving Opportunities in Capital Markets

Speakers:
Mark Attanasio , Co-Founder and Managing Partner, Crescent Capital Group LP; Chairman and Principal Owner, Milwaukee Brewers Baseball Club
Colleen Campbell , Vice Chair, Investment and Corporate Banking, BMO Capital Markets
Lowell Kraff , Executive Chairman and Co-Founder, Trivergance, LLC
Soren Reynertson , Managing General Partner, GLC Advisors & Co.
Justin Slatky , Senior Portfolio Manager, Shenkman Capital Management

Moderator:
Cristina Alesci , Private Equity and Deal Reporter, Bloomberg TV

The return expectations of traditional asset classes -- cash nearing zero, bonds mired in historically low yields, equities defying gravity -- are creating a frustrating environment, so where will investors turn? Are they working up an appetite for risk? What new and perhaps yet-to-be-discovered alternatives will come to the fore? On the other hand, will synthetic instruments and the enormous migration of capital into private equity and away from public markets spark a round of innovation backlash? How will the capital markets direct the flows of money in motion toward the "next big thing"? This panel will explore Wall Street's penchant for invention when it comes to securitizing assets.

  10:00 AM - 11:00 AM

Milken Institute Senior Fellows Meeting (By invitation only)

Moderator:
Paul Irving , President, Milken Institute

Moderator:
Joel Kurtzman , Senior Fellow and Executive Director, Milken Institute Senior Fellows Program; Publisher, Milken Institute Review

  11:15 AM - 12:15 PM

When Past Performance Is a Guide: Using History to Make Sense of the Post-Crisis World

Speakers:
Daniel Arbess , Partner, Perella Weinberg Partners; Chief Investment Officer, PWP Xerion Funds
Ben Funnell , Asset Manager, GLG Partners
Mitchell Julis , Co-Chairman and Co-CEO, Canyon Partners, LLC
Peter Thiel , Partner, Founders Fund

Moderator:
Niall Ferguson , Laurence A. Tisch Professor of History, Harvard University; Senior Fellow, Hoover Institution

Led by historian Niall Ferguson, leading macro-investors explain how historical knowledge fits into their decision-making process. Can history provide actionable insights into the behavior of sovereign debt, equity or commodity markets? Can investors who are judged by their quarterly or even monthly performance profit by looking back to past centuries?

  11:15 AM - 12:15 PM

Debt and Demographics: Capital Went Global, Politics Stayed Local

Speakers:
Anand Desai , Partner and Senior Managing Director, Eton Park Capital Management
Alexander Klabin , Managing Partner and Co-Chief Investment Officer, Senator Investment Group
David Malpass , President, Encima Global

Moderator:
Alan Schwartz , Executive Chairman, Guggenheim Partners

Seismic demographic shifts have shaped global events over the past decade and had profound influence on capital flows. How did those forces figure into the financial crisis, and how are they impacting the recovery? In the U.S., the population is aging and profits, productivity and social insurance payments are up, but wages are stagnant. Are these trends embedded in sliding PE ratios? Market economies have become a virtual global monopoly, yet emerging nations are taking a bigger piece of the pie, and they've got the momentum in building productive infrastructure. What about energy costs and trade balances? How are policymakers going to respond in their effort to manage events? Our panel will divine what all this, and more, means for the global investment outlook.

  2:45 PM - 3:45 PM

A Conversation with Howard Marks and Michael Milken

Speaker:
Howard Marks , Chairman, Oaktree Capital Management

Interviewer:
Michael Milken, Chairman, Milken Institute

When an investor tells you, "This time is different," says Howard Marks, take caution. "These four words should strike fear - and perhaps suggest an opportunity for profit - for anyone who understands the past and knows it repeats." Indeed, Marks warns that failing to heed the lessons of history "is what dooms investors to being victimized repeatedly by cycles of boom and bust." Such straightforward advice, compiled in his book "The Most Important Thing," as well as his prescient investing have made Marks an industry legend. Join Institute Chairman Mike Milken (who also often notes that history repeats itself) as he welcomes Marks for a discussion on the current economic climate, ways to think about and gauge risk, the crucial importance of research and analysis, and lessons learned over the course of a long and successful investing career.

Read the blog post

  2:45 PM - 3:45 PM

Financing Ideas: Reinventing Israel's Capital Markets

Introduction By:
Yuval Steinitz, Minister of International Relations, Intelligence and Strategic Affairs, Israel

Speakers:
David Gershon , Chairman and CEO, Superderivatives
Shmuel Hauser , Chairman, Israel Securities Authority
Anath Levin , Head, Financial Markets Division, and Member, Board of Management, Bank Hapoalim
Oded Sarig , Commissioner of Capital Markets, Insurance and Savings, Ministry of Finance, Israel

Moderator:
Roger Stein , Managing Director, Research and Academic Relations, Moody's Corporation; Research Affiliate, Massachusetts Institute of Technology

How can Israel advance from startup nation to scale-up nation? Finance could hold the key. The creation and commercialization of disruptive technology is the Israeli economy's hallmark and a core contributor to its growth. However, tech companies face a shortage of both late-stage and public market funding and often find themselves prey to foreign multinationals. Consequently, Israel can claim only a minor position in the global technology value chain. How can Israeli capital markets become an active partner in the launch of new technologies? How can they provide local and foreign investors access to innovation without the companies being forced into premature IPOs or mergers? Our panel will discuss the elements of a new corporate and public finance model for Israel and consider what lessons can be adopted beyond its borders and what it can learn from abroad.

  4:00 PM - 5:15 PM

Investing in African Prosperity

Speakers:
Tony Blair , Former Prime Minister, Great Britain and Northern Ireland
Bill Gates , Co-Chair and Trustee, Bill & Melinda Gates Foundation
H.E. Paul Kagame , President of the Republic of Rwanda
Strive Masiyiwa , Chairman and Founder, Econet Wireless
Rhonda Zygocki , Executive Vice President, Policy and Planning, Chevron

Moderator:
Michael Milken , Chairman, Milken Institute

Africa is home to six of the 10 fastest-growing economies, driven largely by surging foreign investment flows. FDI is expected to reach $150 billion in 2015 - double the amount received last year and six times more than in 2000. Africa is also home to the world's largest concentration of impoverished people, and the considerable gap between rich and poor continues to widen. For Africa's natural resource sector - target of 90 percent of foreign investment - to spread prosperity, reduce inequality and underwrite gains in human development, a new, collaborative approach to investment is essential. There are important roles for a range of players: investors, corporations, governments, development agencies, NGOs and foundations. This panel of global leaders will discuss innovative and untraditional ways to expand health care, build institutions and broaden the economic base on the continent.

Read the blog post


Global Conference 2013 home
By Day   Sun | Mon | Tue | Wed
   
 
August 2014
Aug 5
Forum: Creativity, Inc.
Santa Monica
September 2014
Sep 18
Asia Summit
October 2014
View All Events
Search all Videos
MI Video Highlight
Global Conference 2014
Leaders on Leadership: Howard Marks, Janet Napolitano, Steve Wynn and Michael Milken on long-term thinking in business, government, education – and life.
Download Milken Institute
Events Brochure
About Us
  Careers
  Contact
  Download Annual Report
  FAQs
  Locations
  Our Team

Blog


Topics

Events
  Associates
  Conferences
  Global Conference
  Partnering for Cures
  State of the State
  Summits
  Asia / California / London
  Forums
  Labs
  Young Leaders

Experts
Newsroom
  Latest News
  News Videos
  Press Releases

Research
  Centers
    Asia
    California
    FasterCures
    Financial Markets
    Jobs and Human Capital
    Public Health

Initiatives

Publications
  Books
  Financial Innovations Labs
  Milken Institute Review
   Amazon Apps
   App Store
  Research Reports
  Viewpoints
  Search All Publications
Support MI
  Associates
  Donate
  Sponsorships
  Strategic Partners

Follow Us
  @Twitter
  Facebook
  YouTube
  Google+
  LinkedIn
  iTunes U

Related Sites
  Partnering For Cures
  Celebration of Science
  Chairman's Corner
  Melanoma Research Alliance
  FasterCures

©2014 Milken Institute