Capital Allocators Podcast Summary
Episode: Ron Biscardi and Katie O'Reilly - Maximizing Value at Conferences (EP.425)
Release Date: January 6, 2025
Introduction to the Panel
In Episode 425 of Capital Allocators – Inside the Institutional Investment Industry, host Ted Seides presents a panel discussion featuring Ron Biscardi, CEO and founder of iConnections, and Katie O'Reilly, Conference Concierge Manager at ProSec. The panel delves into strategies for maximizing value at investment conferences, offering insights for asset managers seeking to optimize their time and budgets during conference seasons.
Evaluating Conferences for Clients
Katie O'Reilly outlines a strategic approach to evaluating conferences, emphasizing the importance of having clear objectives. She states:
"A lot of times the conversation was, yeah, we went to this conference, we didn't get much out of it, and now our PM doesn't want to go again. So I think having a clear strategy is a big piece of it."
(07:34)
Katie highlights four key criteria for assessing conferences:
- Access to Limited Partners (LPs): Opportunities to meet LPs that otherwise might not be accessible.
- Access to Deal Flows or Strategic Partners: Potential to gather intelligence or form strategic partnerships.
- Branding and Thought Leadership: Enhancing the firm’s reputation through participation in panels and speaking engagements.
- Media and Access to Journalists: Visibility in the media landscape to bolster the firm’s public presence.
She also differentiates between marquee conferences (e.g., Milken Conference, Davos) and industry-focused events, noting that while marquee events offer broad benefits, industry-specific conferences allow for targeted networking and strategy execution.
Prioritizing Criteria Based on Fund Size
When discussing how fund size influences conference strategy, Katie O'Reilly remarks:
"It's not only about fund size, it's about what do you want to accomplish and how good are you or your founder, whoever's going at building relationships and looking at it over the long term."
(10:05)
She emphasizes that while larger funds may have more resources to maximize conference opportunities, smaller firms can also achieve significant success through strategic planning and relationship-building.
Approaches of Larger vs. Smaller Firms
Ron Biscardi compares the strategies of large and small firms at conferences:
"The bigger firms, I guess by definition they've figured a lot of this out, but there are smaller firms who do it incredibly well."
(11:21)
He illustrates this with the example of Daniel Dart, who, despite managing a modest $5 million venture fund, excels at networking and brand building by actively engaging and fostering relationships at events.
Networking and Building Relationships
The panel underscores the critical role of networking in conference success. Ron Biscardi advises adopting a long-term relationship-building mindset:
"You have to go into it just assuming this is going to take a really long time. And I'm really here just to make friends."
(14:29)
Katie O'Reilly reinforces this notion by highlighting the importance of being personable and genuinely interested in building connections rather than aggressively pitching:
"Networking is basically just building relationships, being curious about people, being someone people want to spend time with."
(18:12)
They agree that fostering authentic relationships often yields better outcomes than focusing solely on immediate results.
Challenges and Balancing Results with Networking
Ron Biscardi addresses the tension between achieving tangible results and building networks:
"If you're in the long game, you can navigate anything."
(19:09)
He points out that in challenging fundraising environments, patience and consistent relationship-building are essential. Katie O'Reilly adds that demonstrating the value of networking to firm leadership may require educating them on its long-term benefits and starting with small, measurable successes.
Fundraising Environment and Trends
Ron Biscardi introduces the concept of a "punching score" to evaluate conference performance relative to fund characteristics:
"If they get more, they're punching above their weight. If they get less, they're punching below their weight."
(21:02)
He shares insights from recent data, noting a possible resurgence in private equity fundraising in 2025 and highlighting regional trends, such as a stronger focus on liquid strategies in Asia and increasing interest in the Middle East.
Katie O'Reilly echoes these trends, emphasizing the growing importance of in-person interactions in a predominantly hybrid work environment and the strategic focus on regions like the Middle East and Singapore to build new relationships.
Advice for Attending Conferences
Concluding the discussion, both panelists offer actionable advice for attendees:
Katie O'Reilly:
"Don't underestimate the value of just having a plan and knowing why you're going. What does success look like?"
(25:51)
She stresses the necessity of strategic planning and having clear objectives to ensure that conference participation yields tangible benefits.
Ron Biscardi:
"It's very smart to find event partners. I always found events much more effective when I was part of a group."
(25:51)
Ron advises leveraging partnerships and collaborative efforts to enhance networking opportunities and gain comprehensive insights into the conference ecosystem.
Conclusion
The panel discussion with Ron Biscardi and Katie O'Reilly provides a roadmap for asset managers aiming to maximize their conference experiences. Key takeaways include the importance of strategic planning, relationship-building, understanding market trends, and leveraging partnerships. By adopting these strategies, firms can enhance their visibility, foster meaningful connections, and ultimately drive long-term success in the competitive landscape of institutional investing.
Notable Quotes:
- Ron Biscardi [14:29]: "You are not selling something that flies off the shelves. This is a super long sales cycle... I'm here just to make friends."
- Katie O'Reilly [18:12]: "Networking is basically just building relationships, being curious about people, being someone people want to spend time with."
- Ron Biscardi [21:02]: "We can calculate a punching score. This is an important thing to start to get a feel for."
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