That time I hollered laughing at a conference
It's finally officially springtime, so happy spring! I hope your seasonal allergies haven't gotten the best of you already. Kudos to you if you started taking Claritin back in January like I did. :)
I had an incredible time last week in NYC at the 15th annual SEO AICON, or Alternative Investments Conference! It was absolutely delightful seeing so many folks in person, either for the first time or for the first time in a very long time. I wish I were like Grace Reyes of TIDE, who seems to always remember to take selfies with industry folks!
While seeing friends and colleagues in person is always the highlight of every conference for me, this year at SEO, I found the conversations pretty riveting. My favorite was the fireside chat between Debbie Harmon, co-founder & co-CEO of Artemis Real Estate Partners, and Cheryl Mills, founder & CEO of BlackIvy Group. These ladies hit on every topic imaginable—from the importance of picking the best partners in business and life to what it's like being a woman (especially a Black woman) in the industry—and kept me laughing. YES, laughing at a private equity conference! How many times have you heard someone say at a conference, "She married my husband, but that's alright"??? Hilarious!
But the best quotes were the most serious: "When someone's expectations don't meet mine, I have a choice of how I will see it: an opportunity or an obstacle," and "Homogeneity [in teams] is the most underestimated risk." TRUTH. What I loved best is that these ladies were being authentically themselves on a stage in front of hundreds of "intellectual" people; it was so refreshing to see.
During the private equity panel, I appreciated the update on what's going on in the markets from folks with boots on the ground. I've had the impression that little has been happening in dealmaking, and… I've been right. But both the GPs and LPs on the panels felt confident that movement would come soon; everyone just seems to be waiting on the catalyst (aka The Fed).
One of my favorite panels at every conference is the one in which tenured GPs and LPs give advice to emerging managers, and this time was no different. Everyone agreed that GPs communicating on a regular basis and delivering on your promises are the most important factors in establishing trust. David Perez of Avance Investment Management summed it up best: "You see yourself as a bundle of opportunity; LPs see you as a bundle of risk." If that's the case, do everything in your power to de-risk by being humble, honest, and authentic.
SEO AICON is still my favorite PE conference because it still has an intimacy about it. Even with 750 attendees, there were frank and honest conversations that always left me with something to noodle on. I can't wait for next year's!