ACGM MD, Andres Azicri Speaks at Bloomberg Conference in Argentina
New York, NY – Andres Azicri joined a panel of economic and political experts at today’s Bloomberg Conferencia Argentina: Perspectivas Económicas y Políticas held in Buenos Aires.
With Argentina’s presidential election just around the corner, in October 2015, the conference was organized by Bloomberg in order to examine the possible changes in the country’s socio-political and economic landscape post-election. In recent years, Argentines have faced an extremely difficult economic environment and the country has struggled to attract foreign direct investment. Mr. Azicri was invited to speak on a panel which focused on the investment outlook in Argentina post-election. He was joined in a thoughtful discussion by fellow panelists Fernando Jasnis, Portfolio Manager at Explorador Capital Management and Daniela Cuan, Enterprise Credit Analyst at Moody's. Journalist Camila Russo from Bloomberg News was the moderator.
Mr. Azicri was generally optimistic about the future investment outlook, particularly in the financial sector. He expressed his expectation that there will be market adjustments post-election and, irrespective of the winning candidate, a gradual move towards normalization of the economy. He stated that assets are broadly undervalued at present, but that optimism was fairly high in terms of the changes expected to be brought in by a new government. While a Macri government is likely to be the most business friendly, and bring the most rapid changes, Mr. Azicri argued that a Scioli government would also introduce important policy changes that would improve the country’s economic outlook. He suggested that among the important changes expected post-election were: removal of capital controls and interest rate caps; resolution of the holdout situation; and regulatory changes to help develop the capital markets. Mr. Azicri emphasized the financial sector as an area of particular interest, pointing out that it is severely underdeveloped and has the potential to grow five-fold as a percentage of GDP.
Other panels throughout the evening focused on the political aspects of the upcoming elections.
ACGM professionals were pioneers in emerging markets such as Argentina and ACGM has a team of senior professionals based in Buenos Aires. Founded by a US-Argentine banker, one of ACGM core businesses is serving Latin American investment banking clients. The firm’s professionals include several leading Argentina opinion-makers, including renowned economists Eduardo Levy-Yeyati and Andres Azicri, and Carlos Abadi. ACGM is uniquely positioned to assist its Argentine corporate and banking clients in navigating the changing economic environment in Argentina which is likely to follow the elections. ACGM clients have daily access to the economic and market insights of ACGM’s most senior economists and investment bankers.
Mr. Abadi’s panel focused on the development of secondary markers for defaulted loans. An area that will gain importance as specialist hedge funds, including U.S and Europe funds, move in to take advantage of distressed plays. He was joined by moderator Alexandre Camara, Partner at BTG Pactual and fellow panelists: André Suguita, Managing Director, Bank of America Merrill Lynch; Guilherme Ferreira, Partner, Jive Investments; Luiz Fabiano Saragiotto, Director, Deutsche Bank; and Nicolas Malagamba, Head of dedicated global Portfolio Advisory Group (PAG) for Brazil, PwC.
Other panels and topics of discussion at the conference included: Economic and Political Perspectives in Brazil; Consolidation of Companies in Judicial Recovery; Investing Opportunities; The Evolution of US Restructuring Tools; International Insolvency; Early Turnaround; Lava Jato; 10 Years of the Bankruptcy Law in Brazil; and Interim Management.
ACGM’s restructuring and bankruptcy professionals have decades of experience in Latin America and have worked on ground-breaking restructuring deals, such as the first pre-packaged Chapter 11 debt restructuring in Latin America and the first U.S. Chapter 11 reorganization by a Central American issuer. ACGM is the ideal partner for Brazilian corporate issuers seeking capital and restructuring solutions amidst the current crisis. ACGM professionals have advised on restructuring transactions worth many billions of dollars and possess deep technical and analytical skills, enabling them to provide high value solutions to complex capital structure issues. In addition to offering decades of restructuring experience and knowledge, through its global relationships, ACGM provides access to key debt and equity finance sources. ACGM is well positioned to introduce overseas institutional investors to compelling investment opportunities within Brazil.
About Abadi & Co.
Founded in 1991, Abadi & Co. is an investment banking boutique which specializes in three core areas: emerging markets, financial institutions and restructuring & special situations. By focusing on these three areas of expertise, Abadi & Co. has built a team of independent specialists–Fluent in Finance®–who serve as powerful advocates for clients, focused on protecting their financial interests and delivering practical, high-value financial solutions. The Abadi & Co. team prides itself on its ability to guide clients through difficult and groundbreaking transactions, even in situations where the structuring complexities and challenges would have thwarted others.
Abadi & Co.’s experienced team works on a range of transactions, including mergers & acquisitions, debt & equity capital markets issues and recapitalizations. It caters to a global client base which includes companies, governments and financial institutions, across North America, Latin America, Europe and the Middle East. The firm’s specialization approach means that it only takes on engagements if they fall within one or more of its core areas of expertise, allowing it to assign a strong team to every engagement, providing clients with the attention and intellectual capital they deserve. The firm’s clients appreciate having direct access to a senior banker 24/7; they value the discretion of Abadi & Co.'s smaller team and are relieved of the conflict of interest concerns inherent in working with larger investment banks, which often look to cross-sell other products and services. In order to prevent conflicts of interest, and to ensure the independence of the firm's advice, Abadi & Co. does not conduct trading or manage investments.
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