Americas

Description: ESG is no longer a mere add-on in a portfolio or investment strategy. For an increasing number of investors in alternatives, a thoughtful approach to ESG issues has become table stakes. As the industry continues to define the role of ESG and develop approaches to measure and analyze the effect of these issues on their portfolios, industry professionals must continue to educate themselves about the key trends and developments related to ESG across alternative asset classes.

Description: In a joint effort, KPMG International, CREATE-Research, and CAIA Association examined the role of capital markets in the transition to a low-carbon world. This report investigated the experiences to date of climate investing and the changes we can expect in the next three years, as we move towards a new investment paradigm. The research includes insights from 90 institutional investors, alternative investment managers, long only managers and pension consultants in 20 countries in all the key regions.

Description: In this presentation, Keith Black discussed the digital asset and cryptocurrency markets and the innovative solution to build a global, decentralized, and secure network that facilitates payments and other transactions. Keith explored how proof-of-work, such as Bitcoin mining, and proof-of-stake protocols, such as Cardano, are used to secure networks and complete transactions.

Description: In this presentation, Keith Black, PhD, CAIA, CFA, FDP, Managing Director of Content Strategy at the CAIA Association described and compared the many ways that entrepreneurs and their private equity owners can exit their ownership in a private company. While IPOs have declined in importance in recent years, there has been an increase in strategic mergers, financial mergers, and secondary buyouts. More recently, a growing number of companies have sought to become publicly traded through direct listings and special purpose acquisition corporations (SPACs).

Description: ESG is no longer a mere add-on in a portfolio or investment strategy. For an increasing number of investors in alternatives, a thoughtful approach to ESG issues has become table stakes. As the industry continues to define the role of ESG and develop approaches to measure and analyze the effect of these issues on their portfolios, industry professionals must continue to educate themselves about the key trends and developments related to ESG across alternative asset classes.

Description: In this presentation, Aaron Filbeck discussed private equity investments, focusing on venture capital. Aaron provided insight into the life cycle and performance of venture capital funds and presented a framework for the private equity investment process, from the development of portfolio objectives, through liquidity management, and manager selection. Aaron concluded with a look at the risks involved in venture capital investments. Aaron’s presentation was followed by Rebecca who provided a presentation on venture capital updates for 2021.

Description: In this webcast, the CAIA Association and State Street Associates discussed biases in private equity valuations. Private equity funds and portfolio company valuation appraisals are often subject to certain biases, which can lead to a smoothed time series of returns and understated risks if adjustments are not made. This discussion examined some of the common biases and how practitioners can adjust for them.

Description: Tokenization could help to democratize multiple asset classes by providing accessibility to more investors, while enabling asset managers to innovate by creating alternative assets tokens, thereby furthering the expansion of their potential product mix. Yet, the applications of the technology are still in the early stages. Chapter co-hosts CAIA Boston & CAIA Miami, along with CAIA CEO Bill Kelly, held a panel discussion on some of the investment applications and technological considerations of tokenized assets.

Description: Constructing a 'Portfolio for the Future' begins with broad and sophisticated diversification of beta. While alpha generation remains an important pursuit, so too are climate risk, operational excellence, and manager selection - now table stakes for the discerning asset owner. Bill Kelly, CEO, CAIA and Aaron Filbeck, CFA, CAIA, CIPM, FDP, Director of Global Content Development, CAIA, discussed the re-brand of CAIA Association’s blog, along with the issues they’ve been tackling in the blog’s “What About Beta” column.