Presents
Growth, liquidity and realignment strategies for private capital investors
Innovations in Liquidity is the definitive learning and networking summit for decision-makers in the private capital and secondaries markets. The agenda, developed by market insiders, will foster dialogue around the most cutting-edge GP-led and LP-led secondaries strategies across private equity, credit, real estate, infrastructure and venture capital.
Contact us about
sponsorship opportunities
David Snow
david@elatromme.com
Lead Sponsors
Gibson Dunn offers one of the leading investment fund practices with a seasoned team that knows the ins and outs of the investment fund industry.
Event Partners
Global private markets specialists delivering tailored investment solutions, advisory services, and impactful, data-driven insights to the world’s investors.
Turnkey strategies for resolving private market portfolios. Upwelling Capital is the partner of choice for private capital investors in need of realignment to unlock growth and liquidity.
Opportunity for
Members of
On February 10th, the Institutional Limited Partners Association, through its ILPA Institute, is offering to LPs a class on continuation vehicles. The class will be held at the nearby UC San Diego Rady School of Management. ILPA members may also attend Innovations in Liquidity free of charge.
For more information about the ILPA Institute class on Feb 10, contact:
Mandy Ilk
Senior Director, Education
ILPA
milk@ilpa.org
Liquid Courage delivers market intelligence and strategic insights into the $500 billion private capital, liquidity and secondaries market. Liquid Courage is led by former PEI Media Editor-in-Chief David Snow and Joncarlo Mark, a Partner at Upwelling Capital and former Senior Portfolio Manager at CalPERS.
Event Details
• Topics and presenters curated
by secondaries insiders
• One day of panels, interviews, breakouts, networking
• Night-before social gathering, February 8, 4:00 – 6:30 PM
• Market growth and evolution
• Pricing and market dynamics
• New frontiers in continuation vehicles
• LP portfolio optimization
• Structured solutions
• GP stakes
• Evergreen vehicles
Cutting-Edge Content
• LPs
• Secondaries buyers
• GPs
• Family offices
• Portfolio financiers
Who Will Be There
Preliminary Agenda
Night Before • Feb 8
4:00 – 6:30 PM
Pre Event Social
Drinks, music, mingling
Day of Event • Feb 9
All Day
Full Event
8:00 AM
EVENT REGISTRATION, BREAKFAST NETWORKING
9:05 AM
Panel Discussion
‘Election’ Interference: Solving the LP Capacity Challenge in CVs
• Rise of CVs in the institutional portfolio
• How are institutions managing the influx of CV election consents?
• What does this mean for returns and portfolio management?
• What are the operational challenges of CV investing?
• What is ILPA guidance on CV best practices?
11:00 AM
Panel Discussion
GP Transitions
Are Part of the
Solution
• Diagnosing the problem
• Coordinating LP action
• Using third-party advisors
• Selecting a replacement GP
• Track record of outcomes
12:15 PM
11:45 AM
LUNCH NETWORKING
1:30 PM
Breakout Sessions
Facilitated group conversations
Breakout Session A: Real Assets Liquidity and Growth Solutions
Breakout Session B: The Wild West of Structured Solutions
Breakout Session C: Is Evergreen Liquidity Real?
2:30 PM
3:00 PM
3:45 PM
6:00 PM
9:00 AM
Welcome
David Snow, Founder, Liquid Courage
Panel Discussion
Logjam: How Do We Clear the Market Detritus?
• Illiquid private assets – market landscape
• PE, VC, private credit, real assets
• The vast population of non-trophy assets
• Price capitulation
• LP options
• Capital formation to address the issues
Lunch Presentation
What the Data Tells Us About Evolving Exit Markets
12:30 PM
NETWORKING BREAK
Panel Discussion
Consolidation Play: GP Stakes and GP Acquisitions
• How is consolidation impacting investors?
• Key man and change-of-control
• Merging cultures
• Firms that are ‘stuck’
4:30 PM
9:50 AM
Keynote Interview
The Liquidity Revolution is Just Getting Started
• Rise and evolution of private markets
• The CV horizon keeps expanding
• Opportunities across strategies
• Structured solutions
• Challenging traditional partnership models
10:30 AM
NETWORKING BREAK
Panel Discussion
The Growing Sophistication of Credit Liquidity Solutions
• Opportunities for GPs
• Return considerations for LPs
• Underwriting and portfolio considerations
• Beware the ‘roach motels’ in credit
COCKTAILS NETWORKING
EVENT ENDS
Day After Event • Feb 10
ILPA Institute Class
CVs for LPs
Instructor: Joncarlo Mark, Partner, Upwelling Capital.
Enrollment is open to ILPA Members and select non-members
OFFICIAL CONFERENCE HOTEL
The Lodge at Torrey Pines
11480 North Torrey Pines Road, La Jolla, CA 92037
$450
per night · until Jan 8, 2027
Innovations in Liquidity
February 9, 2027 · The Lodge at Torrey Pines, San Diego, California
Innovations in Liquidity is produced by Elatromme LLC in association with Liquid Courage.
© 2026 Elatromme LLC. All rights reserved. All trademarks and logos are the property of their respective owners.
Privacy & Terms | Contact: events@liquidcouragemedia.com
Privacy & Terms
Last updated: October 2026
Innovations in Liquidity is produced by Elatromme LLC (“we,” “us”) in association with Liquid Courage.
Privacy
When you register or contact us, we collect information you provide, such as your name, job title, company, email address and payment details. We use it to manage your registration, communicate with you about the event and send occasional updates about future Liquid Courage events, which you can opt out of at any time. We share information only with service providers who help us run the event (such as our registration platform, payment processor and venue), or where required by law. We do not sell your personal information. Our website may use cookies and basic analytics to understand how the site is used. You can ask to access, correct or delete your personal information by emailing events@liquidcouragemedia.com.
Terms
By registering, you agree to these terms. Registration fees are non-refundable. You may transfer your registration to a colleague by notifying us in writing before the event. We may change the program, speakers, venue or date when necessary. If we cancel the event, we will refund your registration fee, and that refund is our only obligation. The event may be photographed, filmed and recorded. By attending, you consent to the use of your image and voice in event materials and Liquid Courage content. We may refuse admission to, or remove, anyone whose conduct is disruptive or inappropriate. To the extent permitted by law, Elatromme LLC is not liable for indirect or consequential losses arising from your attendance.
Contact
Questions: events@liquidcouragemedia.com
