Patience and building intellectual property

Why do the largest investment firms keep getting bigger? David sits down with Joel Holsinger, Co-Head of Ares Alternative Credit, to discuss why scale has become one of the biggest competitive advantages in investing, how Ares evaluates multi-billion-dollar opportunities, why data centers and AI infrastructure are reshaping private credit, and how great investors think about downside protection. Joel also shares the leadership principles behind building world-class investment teams, why reputation compounds like capital, the power of Kaizen, and how Ares' Pathfinder funds have connected institutional investing with large-scale philanthropy through Promote Giving.

Highlights:

• Why scale has become the biggest moat in private markets.
• How Ares thinks about AI infrastructure and data centers.
• The hidden advantage of having a trusted reputation.
• Why great investors obsess over downside protection.
• Joel's "Kaizen" framework for building elite investment teams.
• How Ares combines investing with large-scale philanthropy.
• Why visualization improves investment decisions.
• The biggest career mistake young investors make.
• Why intellectual property matters more than salary.
• The timeless investing advice Joel would give his younger self.

Guest Bio:

Joel Holsinger is Co-Head of Ares Alternative Credit and a member of the Ares Operating Committee. He oversees one of the world's leading asset-based finance platforms and serves as Portfolio Manager for the Pathfinder fund family, which pioneered a model of donating a portion of carried interest to global health and education initiatives through Promote Giving. Before joining Ares, Joel was a Partner at Fortress Investment Group and previously a Founding Partner of Atalaya Capital Management. He also serves on several nonprofit and educational boards, including PATH Global Health and the Ares Charitable Foundation.

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Sponsor:

AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest/ to learn more.

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Stay Connected with Joel Holsinger:

LinkedIn:https://www.linkedin.com/in/joel-holsinger-0739a74/

Questions or topics you want us to discuss on How I Invest? Email us at [email protected].

Disclaimer:

This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Pierce. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.

(0:00) Why the Biggest Investment Firms Keep Winning (4:56) The Moat That Most Investors Overlook (10:41) Why Reputation Beats Price in Finance (16:35) The Hidden Art of Great Dealmaking (22:08) How Elite Investors Build Trust (28:44) The Leadership Secret Behind Ares (34:51) Why Winning Teams Think Long Term (40:18) The Framework That Builds Better Investors (46:09) Build Your Intellectual Property, Not Your Salary (50:07) The Career Advice Every Young Investor Needs