Manulife's Anne Valentine Andrews - connecting real assets with real money and the world of infrastructure investing

Welcome back to the Alt Goes Mainstream podcast.

Today’s episode features a guest who has consistently and astutely figured out the growth areas in private markets.

We are joined by Manulife’s new Global Head of Private Markets Anne Valentine Andrews. She’s responsible for the strategy, business development, and growth of Manulife Investment Management’s private markets business. Manulife has a platform that spans real estate, infrastructure, timber, agriculture, private equity, and credit.

Anne has a comprehensive and informed purview of both private markets trends and of the different asset classes. She brings together the CIOs from each asset class in the Manulife business and works with the global product group to drive private markets product innovation across the institutional, retail, and retirement channels.

Anne has a wealth of experience in private markets and in infrastructure in particular. She joined Manulife from BlackRock, where she was most recently Global Head of Infrastructure and Real Estate. Previously, she was Co-Head and Chief Operating Officer for the Morgan Stanley infrastructure platform and was a Director at Macquarie Bank.

Anne and I had a fascinating conversation about the evolution of private markets and how to build out a private markets investment platform and its brand. We discussed:

• How to approach building a private markets investment platform at an industry behemoth.
• Why culture matters at an investment firm.
• The continued consolidation of alternative asset managers.
• What it means to connect real assets with real money.
• How to build a brand and educate investors.
• How to bring private markets investment opportunities into retirement accounts.
• The opportunity in infrastructure investing.

Thanks Anne for coming on the show to share your experience and wisdom on private markets. We hope you enjoy.

A word from AGM podcast sponsor, Ultimus Fund Solutions

This episode of Alt Goes Mainstream is brought to you by Ultimus Fund Solutions, a leading full-service fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. In an increasingly sophisticated financial marketplace, investment managers must navigate a growing array of challenges: elaborate fund structures, specialized strategies, evolving compliance requirements, a growing need for sophisticated reporting, and intensifying demands for transparency. 

To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products. 

Visit www.ultimusfundsolutions.com to learn more about Ultimus’ technology enhanced services and solutions or contact Ultimus Executive Vice President of Business Development Gary Harris on email at gharris@ultimusfundsolutions.com.

We thank Ultimus for their support of alts going mainstream.

Show Notes

00:00 Introduction and Sponsor Message from Ultimus Fund Solutions

01:18 Podcast Opening and Guest Introduction

03:39 Anne Valentine Andrews' Career Journey

04:42 Evolution of the Infrastructure Investments

05:41 Infrastructure’s Resilience and Growth

06:27 Building a Private Markets Platform

14:28 Challenges and Strategies in Making Acquisitions

17:12 Evaluating Culture and Integration in Asset Management

18:47 Building a Comprehensive Platform

20:20 Educating Investors and Expanding Access

23:29 Future of Alternatives in Retirement Accounts

26:43 Platformization of Alternatives

28:01 Building and Marketing a Trustworthy Brand in Financial Services

29:30 Learning from Other Industries: Amazon's Influence

31:15 The Evolution of Asset Management

31:57 Adapting to Market Changes and Mega Trends

33:34 The Importance of Long-Term Investment Strategies

34:33 Decarbonization and Natural Capital

35:32 The Importance of Long-Term Thinking

40:02 Connecting Real Assets to Real Money

45:42 Risks and Opportunities in Infrastructure Investment

48:03 The Role of Scale in Private Markets in Infrastructure

49:21 Future of Alternative Investments

The views and opinions expressed in this podcast are those of the speakers, are subject to change as market and other conditions warrant, and do not constitute investment advice or a recommendation regarding any specific product or security. There is no guarantee that the investment strategy discussed will be successful or achieve any particular level of results. Any economic or market performance information is historical and is not indicative of future results, and no forecasts are guaranteed. Investing involves risks, including the potential loss of principal.

Financial markets are volatile and can fluctuate significantly in response to company, industry, political, regulatory, market, or economic developments. The information provided does not take into account the suitability, investment objectives, financial situation, or particular needs of any specific person.

All overviews and commentary are intended to be general in nature and for current interest. While helpful, these overviews are no substitute for professional tax, investment or legal advice. Clients and prospects should seek professional advice for their particular situation. Neither Manulife Investment Management, nor any of its affiliates or representatives (collectively “Manulife Investment Management”) is providing tax, investment or legal advice. 

Manulife Investment Management paper titled U.S. farmland investment returns: continued gains in 2022; 5/19/23. NCREIF collects U.S. farmland property-level performance realized by institutional investments and reports the aggregated results within its Farmland Property Index (FPI). Manulife Investment Management is a participating member in the FPI. The index requires participating managers to report all eligible properties. Usage of this data is not an offer to buy or sell properties.

Manulife, Manulife Investment Management, Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license.

Man...