Capital Series: Mark Berryman and Nick Flores, Caprock

Nov 1, 2023

Mark Berryman and Nick Flores from Caprock talk about their multifamily office and their emphasis on impact investments. They discuss their approach to impact, due diligence, and monitoring, as well as client demand for niche impact opportunities. The episode also explores return profiles, criteria for manager selection, and the importance of impact measurement in investment decisions.

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Introduction

00:00 • 2min

Introduction to Caprock: A Multifamily Office Committed to Impact Investing

01:39 • 4min

Approach to Impact Investing and Multiple Investment Strategies

05:39 • 3min

Private Investments and Impact: Finding Opportunities and Managing Client Expectations

08:47 • 15min

The Importance of Impact Measurement and the MCJ Collective Community

23:35 • 2min

Return Profiles and Customized Portfolios

25:19 • 26min

Commitment to Field Building and Sharing Knowledge in Impact Investing

51:21 • 2min

This episode is part of our Capital Series hosted by Jason Jacobs. This series explores a diverse range of capital sources and the individuals who drive them. From family offices and institutional LPs to private equity, government funding, and more, we take a deep dive into the world of capital and its critical role in driving innovation and progress.

On today’s MCJ Capital Series, we have two guests: Mark Berryman, Managing Director of Impact Investments, and Nick Flores, Managing Director of Impact Investing and Client Advisor for Caprock.

Caprock is a multifamily office that provides customized, comprehensive and strategic financial solutions for a select number of families and foundations. They advise over $8 billion in assets of which over $2 billion has been allocated to impact investments. Caprock is a founding B corporation, which certifies that they meet the highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose.

In this episode, we cover:

[2:05] An overview of Caprock
[3:07] The roles and collaboration between the client advisory and investment research teams at Caprock
[5:38] Caprock's approach to impact, due diligence and monitoring
[8:48] The firm's emphasis on privates
[18:21] Client demand for deeper and more niche impact investment opportunities
[25:19] How Caprock thinks about return profiles
[30:51] Criteria for manager and fund selection
[34:13] Tracking specialists vs generalists
[38:23] Nick and Mark's concerns and what excites them in the climate space
[41:35] Caprock's interest in deep tech
[45:00] Thoughts on first of its kind (FOAK)
[47:31] Evolution of LP base and barriers holding it back
[51:31] Continuous learning and knowledge sharing as a key aspect of Caprock's approach to impact investing

Resources mentioned:

Caprock's Impact Investment Case Study

Correction: In this episode, Jason mistakenly refers to Caprock as having over $8 billion in assets under management. Caprock advises over $8 billion in assets.

Get connected:
Jason Jacobs X / LinkedIn
Mark Berryman LinkedIn
Nick Flores LinkedIn
MCJ Podcast / Collective

*You can also reach us via email at info@mcjcollective.com, where we encourage you to share your feedback on episodes and suggestions for future topics or guests.

Episode recorded on Oct 12, 2023 (Published on Nov 1, 2023)

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*Editing and post-production work for this episode was provided by The Podcast Consultant