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2025 Investing in the U.S. Corporate Loan and CLO Markets Conference

Wednesday, November 12, 2025

11:15 AM (JST) to 06:00 PM (JST)

Thursday, November 13, 2025
08:00 AM (JST) to 06:00 PM (JST)
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Overview

LSTA Inc., the U.S. trade organization that oversees the corporate loan and CLO markets and its global investor community, is pleased to announce its 2025 Investing in the U.S. Corporate Loan & CLO Markets Two-Day Conference.  The event will be held in Tokyo, Japan, at the Grand Hyatt Tokyo Hotel on November 12th and 13th.  

This is a special year for the LSTA, as we are celebrating our 30th anniversary as an organization and the 20th anniversary of our Tokyo Conference.  Over the past 20 years, the LSTA Tokyo conference has become the premier event for the U.S. corporate loan and CLO markets, where the Japanese investor community can engage with their U.S. partners from the largest and most respected asset management firms and arranger banks.  Representatives from more than 125 financial institutions and their affiliates are expected to attend this year’s two-day event, with total attendance estimated at over 1,000 participants. 

This year’s two-day conference agenda includes 10 panel sessions headlined by market leaders from 30 prominent investment firms and arranging banks that participate in the corporate loan & CLO markets.  Industry experts will analyze the latest trends, strategies and investment opportunities across the private credit and broadly syndicated loan & CLO markets. 

The Day-1 agenda will concentrate on the private credit market and the strategic investment opportunities that global investors are capitalizing on.  The day-2 agenda will focus on investment trends and analysis of the broadly syndicated loan and CLO markets.  The day-2 agenda will be highlighted by a keynote speech by Ayako Sera, Executive Manager and Senior Market Strategist at Sumitomo Mitsui Trust Bank, who will discuss the long-term global impacts of deglobalization and the prospects for the U.S. and Japanese Economies and Financial Policies under the Trump Tariff Era.  The LSTA is also honored to include a day-2 panel session dedicated to local investors, where market leaders from Japan’s investment community will hold an investor roundtable discussion on investing in today’s corporate loan market.  

Conference Attendance is by Invitation Only and is Free for Invited Guests

The LSTA would like to recognize and thank each of our Conference Sponsors who have made this year’s event possible.

PREMIER LEVEL SPONSORS

*Bank of America Securities*, *Benefit Street Partners*, *Blue Owl Capital*, * The Carlyle Group*, *FitchRatings*, *Golub Capital*, *Invesco*, *KKR*, *Macquarie Asset Management*, *Morgan Stanley*, *Morgan Stanley Investment Management*, *Oak Hill Advisors*, *PGIM, Inc.*, *PineBridge Investments*

PRESENTER LEVEL SPONSORS

*Ares Management Corporation*, *Barclays*, *BlackRock*, *Columbia Threadneedle Investments*, *HPS Investment Partners*, *Jefferies*, *Santander US Capital Markets*, *Sound Point Capital*, *Sumitomo Mitsui Trust Bank*, *TCW Group*, UBS Asset Management*, *Voya Investment Management*

 

For more information on the LSTA, please visit us at www.LSTA.org.

DAY 1 - THE PRIVATE CREDIT MARKET: NOVEMBER 12, 2025

11:15 am - 12:15 pm
Registration
12:15 pm - 1:15 pm
Networking Lunch
1:15 pm - 1:25 pm

Speaker

  • SEAN GRIFFIN, Chief Executive Officer and Executive Director, LSTA, Inc.
1:25 pm - 2:15 pm
  • Portfolio Strengths and Pressure Points
  • Deal Terms and Structures
  • Financing Tools: Private Credit CLOs and Asset Based Lending
  • Capital Flows, Formation and Liquidity
  • APAC Investor and Lender Impacts

Moderator

  • ANDREW BERLIN, Vice President, Director of Policy Research, LSTA, Inc.

Speakers

  • DEREK FIN, Head of APAC Private Credit, Senior Client Portfolio Manager, Invesco
  • THOMAS HENNIGAN, Chief Operating Officer and Chief Risk Officer of Direct Lending, The Carlyle Group
  • DAI IKEDA, Deputy General Manager, Alternative Funds Investment Department, Sumitomo Mitsui Trust Bank
  • SUJAAN JOSHI, Managing Director, CLO Syndicate, Bank of America Securities
  • DAVID MANZANO, Managing Director, Golub Capital
2:15 pm - 3:05 pm
  • Global Strategies and Market Opportunities
  • Portfolio Construction and Differentiation
  • Management of PCLOs vs. BSL CLOs
  • Deployment Discipline, Due Diligence and Underwriting Standards
  • Investor Alignment, Customization and Transparency

Moderator

Speakers

  • PATRICK LINNEMANN, Senior Managing Director, Direct Lending Investment Team, Blue Owl Capital
  • SAAHIL MAHAJAN, Managing Director, U.S. Private Debt Investment Committee Member, Benefit Street Partners
  • ERIC MULLER, Portfolio Manager & Partner, Chief Executive Officer – BDCs, Oak Hill Advisors
  • JOSEPH TAYLOR, Managing Director, Head of Capital Markets, PineBridge Investments
  • KYLE ULEP, Managing Director, Large Cap Private Credit, PGIM, Inc
3:05 pm - 3:35 pm
Afternoon Networking Break
3:35 pm - 4:25 pm
  • Expansion Beyond Traditional Direct Lending into Alternative Areas
  • Why Specialty Lending is Growing
  • The Main Types of Assets and Sectors Attracting Capital
  • Asset-Based Finance, Infrastructure, Data Centers and Royalties
  • How to Evaluate Risks and Rewards in Finding the Right Investment Opportunities

Moderator

  • TESS VIRMANI, Deputy General Counsel, EVP - Head of Policy, LSTA, Inc.

Speakers

4:25 pm - 5:00 pm

Speaker

  • WINNIE FONG, CFA, Managing Director, North America Business Head for Structured Credit & Global Head of Private Credit, Fitch Ratings
5:00 pm - 6:00 pm
Cocktail Reception

DAY 2 - THE CORPORATE LOAN AND CLO MARKETS: NOVEMBER 13, 2025

8:00 am - 9:00 am
Registration & Continental Breakfast
9:00 am - 9:10 am

Speaker

  • SEAN GRIFFIN, Chief Executive Officer and Executive Director, LSTA, Inc.
9:10 am - 10:00 am
  • Geopolitical Tensions, Macroeconomic Uncertainty, Evolving Monetary Policy
  • Global Risk Assessment & Capital Flows
  • Convergence of the Broadly Syndicated and Private Credit Markets
  • Evolution of Corporate Credit Liquidity and Retail Access
  • The Effects of Artificial Intelligence (AI) on Corporates

Moderator

  • SEAN GRIFFIN, Chief Executive Officer and Executive Director, LSTA, Inc.

Speakers

  • STEVEN ABRAHAMS, U.S. Head of Investment Strategy, Santander U.S. Capital Markets
  • VIVEK BOMMI, Head of Leveraged Credit, Macquarie Asset Management
  • RALPH HINCKLEY, Managing Director and Portfolio Manager, Floating-Rate Loan Investment Team, Morgan Stanley Investment Management
  • SCOTT MCKAY, Senior Managing Director, Liquid Credit Investment Team, Blue Owl Capital
  • DAIRE WHEELER, Managing Director, Head of European Liquid Credit, Benefit Street Partners
10:00 am - 10:30 am
Morning Networking Break
10:30 am - 11:20 am
  • Primary Market Activity and Asset/Liability Spread Movements
  • Performance and Volatility
  • Secondary Market Trends, Technical Indicators and Liquidity
  • Primary and Secondary Market Relative Value Analysis
  • Investor Dynamics and Impacts of New Products (such as ETFs)

Moderator

  • TED BASTA, Executive Vice President, Analytics and Investor Strategy, LSTA, Inc.

Speakers

  • DANIEL HAYWARD, Partner, Portfolio Manager of U.S. Liquid Credit, Ares Management Corporation
  • SUJAAN JOSHI, Managing Director, CLO Syndicate, Bank of America Securities
  • BRIAN JULIANO, Managing Director, Head of the U.S. Leveraged Loan Team, PGIM, Inc
  • SETH MISSHULA, Managing Director, Head of U.S. Trading and Senior Portfolio Manager, Invesco
  • DREW SWEENEY, Managing Director Co-Head of Global Credit, TCW Group
11:20 am - 12:10 pm
  • Impacts of Deglobalization
  • Prospects for the U.S. and Japanese Economies and Financial Policies under the Trump Tariff Era

Speaker

  • AYAKO SERA, Executive Manager, Senior Market Strategist, Sumitomo Mitsui Trust Bank, Limited
12:10 pm - 1:10 pm
Networking Lunch
1:10 pm - 2:00 pm
  • Borrower Fundamentals, Interest Coverage and the Credit Cycle
  • Sector Allocation and Selection under Tarriff Uncertainty
  • Managing Rating Actions and Portfolio Tail Risk
  • Traditional Defaults, Distressed Exchanges and Liability Management Exercises
  • 2026 Credit Outlook

Moderator

  • HUGO PEREIRA, Vice President of Analytics & Investor Strategy, LSTA, Inc.

Speakers

  • CODY KENTARO ALEXANDER, Vice President, Credit Investment Management Department, Senior Credit Analyst, Sumitomo Mitsui Trust Bank
  • MOHAMED BASMA, CFA, Managing Director, Head of Bank Loans & Global CLOs, Voya Investment Management
  • DANIEL COLONNA, CFA, Managing Director, Lead Portfolio Manager, U.S. CLO Management (Magnetite), BlackRock
  • KEVIN WOLFSON, Managing Director, Portfolio Manager, U.S. Leveraged Loans and CLO Management, PineBridge Investments
2:00 pm - 2:50 pm
  • Active Management Strategies to Optimize Performance
  • Current Focal Points and Top Concerns
  • Assessing Risk Baskets and Liability Management Exercises
  • Managing the Primary Pipeline and Post Re-investment Deals
  • The Role of Technology and AI in CLO Management

Moderator

  • TED BASTA, Executive Vice President, Analytics and Investor Strategy, LSTA, Inc.

Speakers

  • HARPREET S. ANAND, Portfolio Manager & Partner, Oak Hill Advisors
  • MATT MAXWELL, Managing Director, Head of U.S. Loans, The Carlyle Group
  • MATT PERSOHN, Senior Director, Portfolio Manager and Head of BSL Business Development, Golub Capital
  • JARED WORMAN, Managing Director, Head of U.S. CLOs, HPS Investment Partners
2:50 pm - 3:20 pm
Afternoon Networking Break
3:20 pm - 4:10 pm
  • CLO Arbitrage and Relative Value Across the Capital Stack
  • Considerations for Investing in Primary vs. Secondary Equity
  • Factors that Influence Decisions Beyond the Non-call Period
  • The Metrics That Matter Most to Equity
  • Critical Transaction Features for the Long-term Success of a Deal

Moderator

  • TESS VIRMANI, Deputy General Counsel, EVP - Head of Policy, LSTA, Inc.

Speakers

  • LAKSHYA MADHOK, Managing Director, Portfolio Manager Structured Credit, KKR
  • JOHN G. POPP, Managing Director, Global Head and Chief Investment Officer of the Credit Investments Group, UBS Asset Management
  • GUNTHER STEIN, Head & Chief Investment Officer of U.S. Performing Credit, Sound Point Capital
4:10 pm - 5:00 pm
  • Factors that Influence U.S. Credit Market Allocations and Strategies
  • The Convergence of the Broadly Syndicated Loan and Private Credit Markets
  • Assessing U.S. Corporate Credit Risk and Exposure
  • Evaluating Credit Managers

Moderator

Speakers

  • KOSUKE NAGATA, General Manager, Head of the Credit Investment Division, Mitsubishi UFJ Asset Management
  • MASAKI SATO, Portfolio Manager, Structured & Corporate Credit Investment, Sumitomo Life Insurance
5:00 pm - 6:00 pm
Cocktail Reception

Speakers

Event Sponsors

PREMIER
PRESENTER

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Venue Information

Grand Hyatt Tokyo
6-10-3 Roppongi, Minato-Ku, Roppongi, Hills, Tokyo 106-0032, Japan
Please use the link below to book a room at the LSTA rate. You can book a room beginning the day before and day after.

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