Capital Allocators – Inside the Institutional Investment Industry Adam Shapiro – Post-Breeding Grounds for Rising Stars and Families (Capital Allocators, EP.319)
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Jun 5, 2023 Adam Shapiro is the Managing Partner of East Rock Capital, overseeing $3 billion for family investments in hedge funds and private deals. He shares insights on investment objectives and risk management, emphasizing transparency and alignment with family goals. Adam discusses his early career in private equity, innovative strategies at Goldman Sachs, and his vision for East Rock as a breeding ground for talent. He also touches on his personal passions like writing, golf, and gardening, showcasing his multifaceted approach to life and investment.
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Latin American Investing
- Adam Shapiro's first investing job involved private equity in Latin America in the mid-to-late 90s.
- He learned about compounding risks, particularly in emerging markets with macroeconomic and microeconomic instabilities.
Transition to Goldman Sachs
- Shapiro transitioned to Goldman Sachs' Principal Finance Group after business school.
- This group bought diversified portfolios of assets, pricing them conservatively, which led to positive surprises.
The Gift That Kept Giving
- Shapiro recounts a successful investment in a diverse loan portfolio sold by an investment bank.
- Due to its complexity and low interest, the portfolio was priced conservatively, allowing for unexpected gains.