Altamar celebrates the Annual Investors’ Meeting and the II Seminar on Alternative Global Investment
The event gathered more than 400 investors and some of the most renowned professionals in the industry, including the members of Altamar’s International Advisory Board
On June 8th, 2017, Altamar Capital Partners celebrated the Annual Investors’ Meeting and the second edition of the Seminar on Alternative Global Investment, which brought together more than 400 people. Throughout the day, the attendees had the opportunity to hear from Altamar’s partners as well as some of the most renowned professionals in the alternative global investment industry. Participants included among others, Howard Marks, Founder and President at Oaktree Capital, Ken Loveless, Founder and Partner at Founders Circle Capital or John Siska, Managing Director at Eccleston Partners.
The seminar began with a welcome speech from the President, Claudio Aguirre, who talked about the progress of the firm in 2016 and its current prospects. The internationalization was another point that Claudio Aguirre emphasized in the opening, in which the International Advisory Board of Altamar was introduced, which consists of a group of experts at global level including Ms. Maryfrances Metrick, Dr. Rolf Wickenkamp, Mr. Kennon Koay and Mr. Iñigo Fernández de Mesa.
After the opening, the first guest of the II Seminar on Alternative Global Investment, Howard Marks, gave a presentation titled “The truth about investing”, where he analyzed the main aspects of the investment industry in any environment. Mark emphasized the need for consistency, coherence and discipline, “there isn’t a style that works on every market so it is necessary maintain coherence with our own investment style and be disciplined”, Howard stated. The Founder and President of Oaktree also declared that he does not support high risk investments because even though returns increase, the chances of failure do so in the same proportion.
Then, came the time to talk about Venture Capital. Ken Loveless, one of the founders of Founders Circle Capital, presented his view on the market and the entrepreneurship ecosystem at Silicon Valley. To conclude the section focused on Venture Capital, Marcel Rafart went over the evolution of Galdana Ventures I FCR, the Venture Capital Altamar Fund, which has reached its target size of €275mn and that has so far made commitments in more than 20 underlying funds in the primary market, one co-investments and one in the secondary market.
After a brief recess, the seminar was resumed with a panel about Life Sciences & Biotech, moderated by Claudio Aguirre, and in which Guy Nohra and Montserrat Vendrell, both partners at Alta Life Sciences, as well as Jose María Fernández participated. During the panel the participants talked about the expected growth and consolidation of the life sciences industry in Spain.
Fernando Olaso and Ignacio Antoñanzas, Founding Partners at Altamar Real Estate and Altamar Infrastructure respectively, analyzed the so-called Real Assets. Olaso, after talking about the current situation of the international market, addressed the development of the Private Equity Real Estate (PERE) funds and presented the new Altan IV Global Fund, launched in the second quarter of this year. In addition, Ignacio Antoñanzas went over the development of the infrastructure market and informed investors on the progress of the Altamar Infrastructure Income Fund, which has carried out 8 investments so far.
The afternoon was focused on presenting the evolution of Altamar Private Equity Funds. José Luis Molina, Miguel Zurita and Inés Andrade highlighted the satisfactory results of the funds, regardless of the economic cycle. The speakers analyzed the current investment environment and some of the keys to creating value in this context, investing in the primary market and secondary market as well as making co-investments. Altamar has launched recently its ninth Private Equity Program, 13 years after its first fund focused on this asset class, which is also the third fund dedicated exclusively to the secondary market and co-investments.
The seminar ended with an inspiring presentation by John Siska, who went through the history behind the global financial crisis and the importance and risks of portfolio construction in the current environment, concluding that “there is no alternative to alternative assets”.