Continuous Improvement Strategies for Chief Investment Officers

In this episode of How I Invest, I sit down with Alifia Doriwala, Co-CIO and Managing Director at RockCreek, a multi-asset and OCIO solutions firm managing $16 billion in assets. Alifia delves into RockCreek’s unique approach to managing customized portfolios for endowments, foundations, and pensions. She shares her perspectives on navigating public and private markets, the evolving role of hedge funds, and the outlook for IPOs and M&A activity in 2025. This conversation is packed with insights for asset managers, institutional investors, and anyone seeking a deeper understanding of market trends and investment strategies.

Highlights:

What is RockCreek? A multi-asset and OCIO firm managing portfolios for clients with under $2 billion in AUM, combining private and public market expertise.

Customized Solutions: Tailoring portfolios to meet client needs, including thematic private market investments like innovation in the aviation industry.

Key Themes for 2025: Anticipating a rebound in IPO markets, increased M&A activity, and opportunities in healthcare and biotech within private markets.

Public Markets Outlook: A shift toward active management as market dynamics broaden, with sector-specific opportunities in U.S. equities like energy, pharmaceuticals, and fintech.

Private Markets Allocation: Targeting 20–30% in private equity and venture capital for long-term institutional investors, with 35–40% in alternatives when including real assets.

Interest Rates and Inflation: Insights into the current rate environment and long-term concerns about inflationary pressures due to trade policies and tariffs.

The Role of Hedge Funds: Understanding why institutions are increasing allocations to hedge funds for alpha and downside protection, and the contrasting strategies between discretionary and quant approaches.

Lessons from a 20-Year Career: How starting in sales and trading shaped Alifia’s investment approach and the importance of being data-driven, dynamic, and open to new ideas.

Continuous Improvement: Strategies for sharpening skills as a CIO, including constant learning, engaging with peers, and leveraging diverse macro perspectives.

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Guest Bio:

Alifia Doriwala is the Co-CIO and Managing Director at RockCreek, where she oversees multi-asset portfolios for institutional investors, including endowments, foundations, and pensions. With a career spanning over two decades, Alifia’s expertise bridges public and private markets, offering strategic solutions tailored to client needs. She is passionate about data-driven decision-making, market research, and mentoring the next generation of asset managers.

Our Podcast now receives more than 200,000 downloads a month. Are you interested in sponsoring an episode? Please email me at dweisburd@gmail.com.

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Stay Connected:

X / Twitter: David Weisburd: @dweisburd

LinkedIn: David Weisburd: https://www.linkedin.com/in/dweisburd/ Alifia Doriwala: https://www.linkedin.com/in/alifia-doriwala-4382629/

Links: RockCreek: https://therockcreekgroup.com/

Questions or topics you want us to discuss on How I Invest? Email us at dweisburd@gmail.com.

(0:00) Episode preview (1:00) Solving client problems and investment themes for the new year (3:26) IPO market predictions and future interest rates (7:08) Alternatives portfolio strategies for endowments and foundations (11:53) Career insights: From sales and trading to investment management (13:30) Family offices' investment trends in hedge funds (16:27) Reflections and advice for aspiring CIOs (17:32) Closing remarks