
Capital Allocators – Inside the Institutional Investment Industry
[REPLAY] Steve Rattner – Overseeing Michael Bloomberg’s Family Office (Capital Allocators, EP.113)
Oct 21, 2024
Steve Rattner, Chairman and CEO of Willett Advisors and former journalist, shares his unique journey from the New York Times to investment banking and government service. He discusses the complexities of managing Michael Bloomberg’s family office, emphasizing team building and a nuanced approach to investments in private equity and hedge funds. Rattner offers insights into navigating emerging markets like China, the challenges of corporate stewardship, and the impact of political polarization on investment strategies. Personal anecdotes add a reflective touch to his investment philosophy.
52:49
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Quick takeaways
- Steve Rattner's diverse career trajectory demonstrates the unique intersections of journalism, investment banking, private equity, and public service to inform his current role.
- At Willett Advisors, Rattner employs an endowment model focusing on diversification and long-term growth while prioritizing thorough manager selection and internal expertise.
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Career Journey and Shifts
Steve Ratner's multifaceted career demonstrates significant transitions between journalism, investment banking, private equity, and public service. Starting as a journalist with the New York Times, he evolved into an economics correspondent, gaining valuable insights into market dynamics. His move into investment banking at Lehman Brothers involved overcoming initial challenges, including a lack of formal training. This experience laid the groundwork for establishing his own private equity firm, where he focused on media investments, ultimately leading him to a pivotal role in the restructuring of the automobile industry during the financial crisis.
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