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10X Capital Podcast
E98: How the $3.5 Billion University of Rochester Endowment Invests
Sep 26, 2024
Rob Rahbari, Senior Investment Officer and Assistant Treasurer at the University of Rochester, shares insights on the endowment's $3.5 billion investment strategy. He highlights the power of diverse fund managers in institutional investing. Rahbari discusses how a concentrated portfolio enables sharper decision-making and deepens manager relationships. He also covers the significance of networking and communication in selecting new managers. Lastly, he emphasizes the role of diversity, equity, and inclusion in shaping the future of investment practices.
22:40
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Quick takeaways
- The University of Rochester's investment strategy emphasizes a concentrated portfolio of high-quality managers to foster impactful relationships and optimize performance.
- Diversity, equity, and inclusion play a crucial role in enhancing institutional investment strategies, offering hidden potential through diverse fund managers.
Deep dives
Building a Strong Investment Team
The importance of having a solid investment team is emphasized, particularly through the example of the Chief Investment Officer (CIO) Doug Phillips, who is described as a 'renaissance man' due to his multifaceted skills and modest approach. He balances personal and professional responsibilities with a thoughtful methodology, allowing for effective monitoring of markets and stakeholder communication. The investment team at the University of Rochester consists of ten members, including four generalist investment officers, who are charged with sourcing and evaluating managers across various asset classes. Their strategy focuses on maintaining a concentrated portfolio of high-quality managers, leveraging their relationships to enhance performance and ensure meaningful interaction within a manageable number of investment opportunities.
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