Milken Institute
Showing 1351–1365 of 1442 transcripts.
- 1h 1m
Mid-Market Private Equity
Lauren Leichtman, Brian Reynolds, Ted Virtue, Barry Volpert, Kneeland Youngblood, Adam Sokoloff, Nealon Youngblood
Representatives from major private equity firms including Levine Leichman, Chatham Capital, MidOcean Partners, Crestview Partners, and Ferros Capital convened to analyze the evolving middle-market landscape, defining target valuations between $25M and $2.4B enterprise value while highlighting a surge in refinancing activity driven by robust capital markets. The panelists identified significant competitive pressures from mega-funds capable of paying higher multiples, prompting mid-market strategies that leverage operational expertise, extended hold periods, and strategic co-investments to secure net IRRs of 18% to 20%. Despite a market shakeout driven by Limited Partner demands for higher returns and larger commitments, the industry outlook remains positive as firms anticipate continued consolidation and sustained demand for lower-multiple, value-creating acquisitions.
- 57 min
A Conversation With Gary Becker, David Rubenstein and Robert Rubin
Gary Becker, David Rubenstein, Robert Rubin, Bob Rubin
Panelists Gary Becker and Bob Rubin argue that the U.S. economy can return to a sustainable 3% growth trajectory by leveraging its energy revolution, real estate recovery, and manufacturing expansion while addressing a structural $10 trillion debt burden through entitlement reform and tax loophole elimination. They attribute current stagnation primarily to political gridlock, advocating for open primaries, nonpartisan civic education, and a market-based immigration system to foster compromise. Despite risks from Federal Reserve quantitative easing and inflation, the experts maintain that the American dollar remains the superior long-term investment vehicle provided the political system functions effectively.
- 1h 0m
Bridging Gaps in Development Finance: New Platforms for Frontier Markets
Anne Heyman, Netanel Oded, Eytan Stibbe, Tally Zingher, Steve Zecher, Tali Zinger, Andrew Taylor
The Milken Institute Israel Center convened experts to address capital gaps in emerging markets by leveraging Israel's innovation ecosystem as a model for economic development in Africa, Latin America, and Asia. Key speakers detailed strategies involving private equity for infrastructure, such as Vital Capital's land-ownership models in Angola, and social innovation frameworks like Anne Heyman's Agahoso Shalom Youth Village in Rwanda. These initiatives collectively advocate for a hybrid approach that combines government R&D subsidies, catalytic philanthropy, and patient private capital to de-risk investments and scale sustainable growth.
- 1h 0m
Financing the Future of Bioscience and Pharma
Melissa Stevens, Lou DiGennaro, Rajiv Kahl, Jody Black, Matthew Perry, Greg Simon
Facing a critical funding gap where traditional venture capital and pharmaceutical giants avoid high-risk early-stage assets, diverse entities including the Leukemia & Lymphoma Society, the NIH, and crowdfunding platforms like Poliwag are deploying non-dilutive capital and democratized investment models to accelerate therapeutic development. These initiatives have successfully leveraged millions to generate billions in downstream deal flow, while regulatory shifts and public market mechanisms enable smaller biotechs to bridge the "valley of death" and reach patients faster. Ultimately, the event highlights a structural shift toward a continuum of care where government research, patient advocacy, and public markets converge to transform scientific discovery into viable treatments for life-threatening diseases.
- 1h 1m
Global Models for Financing America's Infrastructure
Dale, Stephen Goldsmith, Sam Barron, William Reed, Sarah Clark, Sean Glodek, Mike, Lawrence Gottlieb
A global infrastructure summit highlights a critical $3 trillion U.S. investment gap and the urgent need to shift from public financing to private capital models like Public-Private Partnerships to meet rising demand. Experts contrast the U.S. lag in social infrastructure financing against international success stories from Canada and Russia, emphasizing how structural tax barriers currently prevent institutional investors from accessing stable, long-term yield opportunities. With 41 new projects in the pipeline and emerging legislative pushes to expand tax-exempt tools, the panel anticipates a surge in availability-payment deals that transfer construction risk to the private sector while addressing a significant mismatch between public financing costs and investor return expectations.
- 1h 3m
Innovators on the Front Lines of the Future
Paul Benda, Freda Lewis-Hall, Megan Smith, Peter Diamandis
Following the XPRIZE Visioneering event, a panel of twelve domain experts finalized ten high-impact prize concepts ranging from happiness gamification to rapid vaccine production and global literacy. Key initiatives include Nicolas Negroponte's $15 million literacy challenge, Tony Robbins' behavior-change prize grounded in Martin Seligman's data, and a $5 million diversity-focused X2 Prize funded by Lynn Tilton. These competitions aim to disrupt traditional R&D models by leveraging private funding and regulatory incentives to solve complex global problems like Alzheimer's diagnostics, atmospheric water extraction, and homeland security screening.
- 1h 3m
Africa: Opportunities for Business and Investment
Ernest Wilson, Paul Hinks, Jay Ireland, Sam Nuwanzi, Mr. Shankar, Minister Turkpour, Paul Tullis, Mark Kahn
The Milken Institute's inaugural Africa track convened high-profile leaders including Bill Gates and Paul Kagame to address critical sector-specific challenges in power, banking, and infrastructure. Panelists from GE, Standard Chartered, and Symbian Power detailed strategies for navigating complex regulatory landscapes, debunking corruption myths, and shifting investment mindsets to capitalize on the continent's growing consumer market. Discussions highlighted a pivot toward local execution, the rise of competitive financing from BRICS nations, and the necessity of blending indigenous entrepreneurship with structured capital to drive sustainable economic integration.
- 1h 0m
The Future of Money: What's in Your Digital Wallet?
Eric Dunn, Paul Galant, Mark Lavelle, Ed McLaughlin, Lauren Lyster
Industry experts analyze the delayed adoption of mobile payments, attributing stagnation to a structural conflict between carriers and card issuers over NFC security elements and the absence of a clear "10x" value proposition for consumers. Panelists debate the future of digital infrastructure, weighing the role of legacy banking trust against modern tokenization while predicting that blockchain efficiency and cashless ecosystems will ultimately drive global financial inclusion despite skepticism toward cryptocurrencies. The consensus suggests that mainstream success relies on regulatory clarity, sustainable business models, and device-agnostic credentials to eventually replace physical currency and empower consumers with superior financial management tools.
- 1h 2m
The Activist Investor
Michelle Edkins, Ed Garden, Clifton Robbins, Barry Rosenstein, Peter Weinberg, Anne Sheehan, Cliff Robbins, Michael D., Steve Miller
Panelists Ed Garden, Barry Rosenstein, and representatives from Trian, Jana Partners, and Blue Harbor describe how activist investing has shifted from hostile litigation to collaborative, institutionalized strategies focused on operational turnarounds and governance reforms. Distinct approaches include Trian's long-term capital lock-ups for turnaround execution, Blue Harbor's private equity-style value unlocking in mid-cap firms, and Jana Partners' selective event-driven engagements, all supported by a marked decline in defensive poison pills. The discussion highlights that these modern activists prioritize substantive economic benefits over short-termism, driving a broader industry evolution toward shareholder primacy and active board accountability.
- 1h 4m
Cash on the Sidelines: How to Unleash $30 Trillion
Alexandra Lebenthal, Mustafa Sagun, Max Stone, James Zelter, Joe Reece
Held at the Milken Institute, a panel of four prominent investment leaders including Mustafa Sagan of Principal Global Investments and Jim Zelter of Apollo Capital Management addressed the dynamics of approximately $30 trillion in idle global capital. The discussion highlighted how corporate tax structures, pension deficits, and low-yield environments are trapping funds in safe assets while alternative lenders increasingly fill the void in small and medium enterprise financing. Panelists unanimously concluded that capital remains constrained by regulatory uncertainty and deflationary fears, predicting a significant shift toward riskier opportunities once yields rise or market volatility stabilizes.
- 59 min
U.S. Tax Reform: What's New, What Would It Mean?
Jared Bernstein, Mark Everson, Nancy Kopp, Phillip Swagel, Liz Claman, Phil Swagel
Prominent experts including former IRS Commissioner Mark Everson and Milken Institute officials Phil Swaggle and Jared Bernstein convened to analyze U.S. tax reform priorities following the financial crisis, focusing on the inefficiencies of current tax expenditures like the mortgage interest deduction and carried interest. The panel identified a critical need to close the $300 billion annual tax gap and eliminate barriers such as the Alternative Minimum Tax that hinder small business innovation and domestic R&D investment. Despite consensus on the necessity of capping deductions and ending corporate tax deferral, the group acknowledged that political gridlock and rigid fiscal rules remain significant obstacles to comprehensive legislative action.
- 1h 5m
The International Quest for Effective Education Reform
Michael Bennet, Eugene Kandel, Anthony Miller, Dilip Thakore, Dinghua Wang, Lowell Milken
A global analysis of education systems reveals that human capital investment is the primary driver of economic growth, with specific policy shifts in China, India, Israel, and the U.S. demonstrating how structural reforms in teacher incentives, accountability, and curriculum can address critical shortages and achievement gaps. While the United States faces a retention crisis and stagnant progress despite billions in spending, emerging models utilizing performance-based funding and rural integration strategies offer scalable blueprints for improving literacy and workforce readiness across diverse demographics. The consensus among experts emphasizes that sustainable national advancement requires decade-long strategic continuity and targeted private-sector innovation rather than frequent administrative overhauls.
- 1h 1m
Housing: An Asset Class or a Place to Live?
Scott Garrett, Jeff Greene, Emile Haddad, James Litinsky, Rick Newman, Jim Latinsky
Following a bottom in sales, the housing market has stabilized with prices rising 9% year-over-year, yet experts attribute the current recovery to artificial government support that creates unsustainable low mortgage rates and a heavy reliance on GSE bailouts. A severe shortage of entitled land in high-growth regions combined with massive private and foreign investor activity is constraining supply, while panelists warn that a return to free-market interest rates could collapse the recovery if buyers cannot qualify at 5% or 6%. Although policymakers aim to reform GSE dominance over the next two decades, the consensus remains that the current era of financial repression has mispriced assets and risks a future correction once subsidies are reduced.
- 1h 4m
Return on Investment: Beneficiaries Fueling Social Change
James Anderson, Scott Budnick, Eric Dawson, Jacqueline Gonzalez-Reyes, Kirsten Lodal, Malik Voyard, John Rogers Jr.
Moderator John Rogers facilitated a dialogue with leaders from Ariel Investments, Anti-Recidivism Coalition, LIFT Los Angeles, and Peace First to outline strategies for dismantling systemic poverty and recidivism through community-led interventions. Panelists highlighted transformative outcomes such as recidivism rates dropping below 3% for college-enrolled inmates and an $15 million income increase for LIFT families, while critiquing inadequate legal defense and custodial prison cultures that perpetuate inequality. The discussion concluded with a strategic pivot toward "impact investing" and narrative-driven scaling, urging institutional capital to shift from transactional aid to sustainable, human-centered policy reforms.
- 57 min
A Conversation with Najib Ghadbian: Syria's Choices
Established in Doha in 2013, the Syrian Opposition Coalition functions as a unified political body recognized by 114 nations to coordinate the removal of Bashar al-Assad and govern liberated areas while the conflict has claimed over 70,000 lives. Under the command of General Salim Idris's Supreme Military Council, the group seeks urgent international support for strategic weaponry to counter regime forces and prevent the emergence of radical factions. Additionally, the coalition is developing a post-conflict framework requiring $60 billion to ensure state continuity, territorial integrity, and transitional justice while rejecting any political settlement that includes the current leadership.