Today's guest is Wendy Li, founder and CIO of Ivy Invest, which offers an endowment-style fund with traditional and alternative assets. She’s spent her career as an institutional investor managing billions of dollars for some of New York’s largest endowments and foundations.
In today's episode, Wendy walks through the strategies and principles behind how major endowments invest, manage risk and navigate the evolving landscape of alternative assets. Then we shift to Ivy Invest and her innovative approach in making endowment-style investing accessible to individual investors. She explains her approach to building a diverse investment portfolio, her framework for liquidity management, and how this fund structure allows individuals to invest with no need to be an accredited investor.
(0:00) Introduction to Wendy Li
(2:38) Endowment investing
(11:35) Balancing illiquidity and evolution of alternative investments
(22:58) Founding Ivy Invest
(26:27) Investment process, portfolio composition, and manager sourcing
(33:29) Evergreen structures and liquidity
(42:23) Skin in the game
(49:44) Most memorable investment
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Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.
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