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Events

37th Annual Conference

Welcome Back!

The Minnesota Higher Education Facilities Authority invites you to attend our 37th Annual Conference.
The conference will be held in the RedCap Room on the 2nd floor at historic Union Depot. We encourage
you to attend in person, but for those who cannot attend in-person, we will offer an online viewing
option.
We have a great line-up of speakers on topics relevant to your work. We look forward to you joining us
for insightful presentations, the opportunity to meet your peers, and a great networking opportunity.
Please take a moment to RSVP to save your seat for MHEFA’s 37th Annual Conference.

Agenda

9:15 am Registration, Networking, and Breakfast

9:40 am Introduction, Welcome, and Authority Perspective

  • Barry Fick, Executive Director, MHEFA

9:45 am 2025 US Interest Rate and Inflation Outlook Surging Debt and Falling Inflation: A Zero rate Future

  • Dimitri Delis, Ph.D., Managing Director, Director of Fixed Income Research, Piper Sandler Financial Strategies

10:30 am Moody’s RATINGS Overview and Insights on Higher Education Trends

  • Debra Roane, Vice President, Senior Credit Officer
  • Nicole Addalli Serrano, Vice President, Senior Credit Officer

Moody’s Ratings: Higher Education and Not-For-Profits

11:15 pm Networking/Snack Break

11:30 Am Demographics, Demand for Higher Education, and Implications for Facilities planning

  • Dr. Nathan Grawe, Professor of Economics, Carleton College

12:15 pm State of Minnesota Demographic update

  • Megan Elizabeth Dayton, Senior Projections Demographer, Minnesota State Demographic Center, Dept. of Administration

1:00 pm Lunch and networking

 

speaker biographies

Dimitri N. Delis, PH.D.: Managing Director, Director of Fixed Income Research, Piper Sandler Fixed Income Profiles

Dimitri Delis is a Managing Director and Director of Fixed Income Research within Piper Sandler. He is responsible for evaluating economic trends, analyzing current economic issues and generating relative value strategies by integrating fixed income cross-sector trends with macro/economic analysis. He identifies/analyzes market dislocations across all fixed income asset classes and makes economic presentations to clients.Dimitri has been quoted in Bloomberg, Marketwatch and Reuters and is a frequent speaker at both regional and national level business/financial events.

Prior to joining the group in 2005, Delis served as the cross-sector strategist for JP Morgan. Prior to theJP Morgan-Bank One merger, he was the derivatives strategist for Bank One. Dimitri’s experience includes market risk management for ABN AMRO where he was responsible for identifying and monitoring all market risk-taking activities for the derivatives and FX trading desks and bond modeling for Salomon Brothers’ proprietary portfolio tools.

Dimitri Delis holds a Ph.D. in nuclear physics from the University of California at Berkeley and a bachelor’s degree in chemistry and mathematics from the University of Chicago. He completed his Master of Business Administration degree at Northwestern University’s Kellogg School of Management in 2006.  He is a registered representative with the Financial Industry Regulatory Authority (FINRA).

Debra Roane: Vice President, Senior credit officer, Moody’s RATINGS: Higher Education and Not-for-ProfitS

Debra Roane covers higher education and not-for-profit institutions across the United States including large public university systems, complex academic medical centers and prominent not-for-profit organizations.  Debra was instrumental in expanding Moody’s coverage in the high profile sector for sub-sovereign ratings in Australia and New Zealand and, in particular, in the Australian and Singaporean universities sectors. She also helped Moody’s to strengthen its presence in the Chinese regional and local government sector by leading the initiative to develop a knowledge base, research and outreach, and credit architecture from an early stage.  Prior to joining Moody’s, Debra worked for the Federal Transportation Administration in Washington, DC as a Presidential Management Intern and in New York City as a Project Manager. Debra holds an MA in Urban Affairs and Policy Analysis from the New School for Social Research and a BA in Geography from McGill University in Montreal.

Nicole Addalli Serrano: Vice President, Senior credit officer, Moody’s RATINGS: Higher Education and Not-for-ProfitS

Nicole Addalli Serrano covers colleges and universities in several states, including Texas, Louisiana, and Massachusetts.  Nicole is also the Private and Structured Credit Coordinator for Moody’s Public Finance Group. Prior to this, Nicole was a Vice President in the New York Local Governments Ratings Team covering credits primarily in the Northeastern US and was an Analyst for the Housing Team.  Prior to joining Moody’s, Nicole worked for BNP Paribas. Nicole holds an MPA from the New York University, Robert F. Wagner Graduate School of Public Service with concentrations in Finance and Economics and a BA from Pace University.

Nathan D. Grawe, PH.D.: Professor of Economics, Carleton College

Dr. Nathan Grawe is Professor of Economics at Carleton College.  Nathan’s 2018 book, Demographics and The Demand for Higher Education (Johns Hopkins UniversityPress) examines how recent demographic shifts are likely to affect demand for higher education. In a follow-up project, The Agile College (Johns Hopkins University Press, 2021), Nathan draws on interviews with higher education leaders to provide examples of how proactiveinstitutions are grappling with demographic change.

Megan Elizabeth Dayton: Senior Demographer, Minnesota State Demographic Center

Megan Dayton has served as a Senior Demographer at the Minnesota State Demographic Center since 2012, where she provides data and insights to guide policy and planning decisions across the state. Her work supports initiatives like school district funding allocation, workforce development, and housing strategies. Megan’s expertise lies in developing and refining predictions of fertility, mortality, and migration trends. Her research explores the implications of demographic shifts, with a focus on emerging challenges like climate-drive migration and its potential impact on Minnesota and the Midwest. Megan holds a master’s degree in applied demography and an MBA.