Capital Decanted S2 | Episode 5: The Evolving Asset Owner - New Tools for a New Regime with Molly Murphy and Scott Chan
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Jan 28, 2025 
Join Molly Murphy, Chief Investment Officer at OCERS, and Scott Chan, CIO of CalSTRS, as they explore the evolution of asset ownership. They discuss innovative investment vehicles like co-investments and NAV lending reshaping portfolios. Murphy and Chan highlight the shift from traditional models to collaborative strategies that enhance efficiency. They also delve into the complexities of direct investments and the importance of alignment among stakeholders, emphasizing how modern tools are empowering institutional investors in a dynamic landscape.
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The Modern Asset Owner
- Today’s asset owners are moving beyond the traditional endowment and Canadian models.
- They are adopting a new, dynamic approach that offers more flexibility and control.
Equity Orientation
- The endowment model's core belief is in an equity-oriented portfolio, a departure from the fixed-income focus of the past.
- This shift towards equities was considered reckless at the time but proved successful for long-term growth.
The Essence of the Canadian Model
- The Canadian model emphasizes building world-class organizations with robust investment capabilities.
- This includes fostering innovation, repeatable process, and a risk infrastructure overseen by an independent board.
