Outro

In this episode of dakota live!, Robert Morier welcomes Scott Perry, Partner and Head of OCIO Portfolio Strategy at NEPC, one of the largest investment consulting firms in the industry.

Scott brings nearly two decades of institutional experience and a candid perspective on how the OCIO model is evolving — from portfolio construction and liquidity management to alignment of incentives, pacing, and risk.

We cover what it really takes to be an effective discretionary partner in a world defined by complexity, compressed alpha, and a rising demand for private markets access.

Scott breaks down NEPC’s “secret sauce,” including second-level thinking, cross-asset research collaboration, 250-point due-diligence checklists, and the importance of doing the “dirty work” — the legal, operational, fiduciary, and back-office responsibilities that clients often underestimate.

We also dive into the strategic acquisition wave sweeping the investment landscape. Scott offers an inside look at NEPC’s partnership with Hightower, why the RIA channel represents a major growth opportunity, and how private market capabilities and model portfolios will increasingly blur the lines between institutional and wealth.

And, because relationships are still the game behind the game, we talk basketball. NEPC’s legendary Friday-morning runs, the roots of the Year Up Charity Tournament, and how the same court-sense — knowing when to pass, when to take the shot, and how to read the room — translates into durable client partnerships and long-term trust.

Topics Covered:
• OCIO evolution and what institutions should look for in a partner
• Democratizing the endowment model — and why access still matters
• How NEPC evaluates managers (and why attribution beats storytelling)
• Strategic acquisitions & the Hightower partnership
• Private markets pacing, venture vs. buyout dispersion, and niche lending
• The rise of active ETFs and the future of manager-client alignment
• Relationship building, committee dynamics, and managing emotion

Whether you’re a CIO, allocator, manager, RIA, or an emerging professional in the field, Scott offers one of the clearest views into how OCIO decisions get made — and how the industry is changing in real time.

Watch, learn, and subscribe for more insights from the people shaping institutional investing.