The 31st annual LPC Large Corporate Leveraged & Middle Market Loans Conference will take place on Thursday November 20, 2025.
Join 250 delegates - including investors, borrowers, bankers and legal advisors - for a day filled with insightful discussions on the most important issues facing the loan market.
This must-attend, full-day conference will be held at Convene 360 Madison, New York and will comprise eight in-depth sessions providing actionable insights from over 35 of the industry's most respected thought leaders as they discuss Private Credit and Syndicated Lending across the Large Corporate and Middle Market segments.
Agenda:
08:00 - Registration
08:45 - Current Trends in the Syndicated Leveraged Loan and Direct Lending Markets
- CJ Doherty - Director, Market Analysis, LSEG LPC
09:15 - 2025 Market Shifts: Changes in Private Credit vs. BSL
- Alan Rockwell - Partner, DLA Piper (moderator)
- Jeff Cohen - Managing Director, Santander
- Ben Gohman - Managing Director, Scotiabank
- John Toronto - Managing Director, Oak Hill Advisors
Discussion topics:
- 2025 market drivers: How did the calendar among private credit and BSL lenders develop in 2025? How was lender execution impacted by Liberation Day and what are the ongoing expected impacts (if any) from continuing tariff negotiations?
- What opportunities are in place for the rest of the year and looking ahead into 2026 - in particular what is the projection for Sponsor M&A activity looking ahead to next year?
- How have partnerships between certain large asset management platforms and large investment and commercial banks impacted approach to origination and deal execution?
- Will the continued increase in competition between private credit and BSL (and amongst different private credit platforms) lead to further liability management transaction risks? Will there be an impact on future pricing?
10:00 - The Private Equity Perspective: Structuring the Financing
- Adam Shapiro - Partner, Kirkland & Ellis (moderator)
Discussion topics:
- How do you analyze financing opportunities in the current macro environment of high index rates, tariffs and geopolitical tensions?
- How do you think about deal structures – including, syndicated debt vs. private credit, unitranche vs. inclusion of junior capital, and if junior capital is included, bond vs. second lien vs. pref?
- What are key factors you consider when selecting a financing source and/or setting up a capital structure?
- How has the renewed competition between the syndicated and private credit markets affected how you think about financing processes/options?
- How much are non-pure economics (e.g. financial covenants, incurrence covenants and future access to capital) part of your decision making on financing structures?
- Are you seeing increased desire for structured financing solutions, and if so, in which industries (outside of infra) are you seeing the largest growth of structured products?
- What key themes are you watching in Q4 and into next year? What challenges and opportunities do you see ahead?
10:45 - Morning Break
11:15 - The View from the Top: Observations from the Large Syndicated Loan Market
- Alfred Xue - Partner and Global Vice Chair, banking & Private Credit Practice, Latham & Watkins (moderator)
Discussion topics:
- Opportunities and trends in large cap transactions in 2025
- Specific deal attributes drawing the most focus and discussion in large syndicated deals
- Must-have terms in 2025 syndicated market
- Predictions for directional change in syndicated lending in 2026
12:00 - Leveraged Financings - Current State of Play 2025
- Daniel Coyne - Partner, Ropes & Gray (moderator)
- Jordan Ransom - Director, Capital Markets, American Industrial Partner
- Jordan McCallum - Managing Director, Goldman Sachs
- Dan Glickman - Partner, Harvest Partners
Discussion topics:
- How has the market responded since the disruption of “Liberation Day”?
- Consequently, which factors are driving deal making now? Which provisions in loan documentation are taking on increased importance in the eyes of market participants?
- Looking forward to 2026, are market participants expecting continuity of current themes or is more change expected in debt capital markets?
12:45 - Lunch
13:45 - An Economic Outlook: State of the US Economy and expectations for 2026
- Marc P. Giannoni - Managing Director and Chief US Economist, Barclays
14:30 - Sector Focus: Software and Technology Financing - Navigating Opportunities and Challenges
- Sanders Witkow - Partner, Davis Polk (moderator)
- Jackson Merchant - Managing Director, Deutsche Bank
Discussion topics:
- Market Evolution: How has the software and technology lending market evolved over the past year, particularly in response to shifts in public market valuations and investor sentiment?
- ARR Lending Trends: What factors have contributed to the growth of ARR-based lending, and how are lenders assessing the sustainability and risks associated with this model?
- Valuation Challenges: In the face of declining tech valuations, how are lenders adjusting their underwriting standards and deal structures to mitigate risk?
- Competitive Landscape: With increased competition among private credit providers, what differentiators are lenders leveraging to win deals in the software and technology sectors?
- Risk Management: What are the primary risks associated with lending to software and technology companies, and how are lenders proactively managing these risks?
- Future Outlook: Looking ahead, what trends are anticipated in software and technology financing, and how should lenders position themselves to capitalize on emerging opportunities?
15:15 - Afternoon Break
15:30 - LME 3.0: The Next Evolution of Liability Management
- Justin Lee - Global Head of Liability Management and Strategic Capital Solutions, Weil (moderator)
- Josh Abramson - Partner, PJT Partners
- Greg Berube - Managing Director, Evercore
- Karan Chopra - Partner, Centerview Partners
Discussion topics:
- What is “LME 3.0”? How the market has evolved, where it’s headed, and what distinguishes today’s bespoke liability management solutions from prior generations
- What “LME 3.0” means for sponsors, companies, and creditors in terms of sophistication, creativity, and execution in today’s market
- Understanding the goals of liability management exercises and their continued viability for creative solutions as well as the interaction with traditional restructurings
- Navigating competing creditor interests and designing structures that can withstand litigation and negotiation challenges
- The implications of blockers on the viability of non-pro rata and aggressive drop-down transactions
16:15 - Middle Market Private Credit: Reflections on an Ever-Changing Market
- Caroline Sandberg - Partner and Head of Private Credit, Fried Frank
Discussion topics:
- Navigating the Market Landscape and Competitive Dynamics
- Deal Flow and Origination Trends, including sources of deal flow, how the interest rate environment and M&A volumes are influencing pipeline activity as well as pricing discipline and structuring creativity
- Risk Management and Portfolio Resilience, including credit quality trends and emerging stress points, the role of active portfolio management and early intervention
- Structuring and Terms Evolution, including bespoke financing solutions and structures as well as changes in documentation standards
- Regulation, Policy, and Market Infrastructure, including implications of regulatory attention on private credit growth
- Outlook and Strategic Priorities, including market outlook, how private credit providers are positioning for the next phase of the cycle and the biggest challenges and opportunities ahead
17:00 - Drinks Reception
Your delegate booking includes:
- Full access to each of the conference's eight sessions
- Continental buffet breakfast
- Networking buffet lunch
- Further networking opportunities during the morning and afternoon coffee breaks
- Access to the post-conference drinks reception
Don't miss out. Book your place today.
Our sponsors:
Sponsorship opportunities
There are a limited number of sponsorship packages available for companies looking to promote their brand to the most senior and influential professionals in the market. For more information, contact Leonie Welss.
