Capital Allocators – Inside the Institutional Investment Industry

Rob Small and Anil Seetharam - Public Equity Adjacent to Private Equity at Stockbridge (EP.397)

Jul 22, 2024

Rob Small and Anil Seetharam from Stockbridge, a public equity team at Berkshire Partners, discuss their collaboration with private equity, investment criteria, decision-making process, portfolio management, board involvement, managing stock volatility, sell decisions, mistakes, and lessons learned over 17 years.

01:00:05

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Episode guests

Anil Seetharam

Rob Small

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Episode notes

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Quick takeaways

Stockbridge collaborates closely with Berkshire's private equity team for research and investment decisions.

Stockbridge's investment strategy focuses on business growth, strong management, and effective execution.

Investing lessons emphasize future prediction, conviction in decisions, and learning from mistakes for portfolio success.

Deep dives

Investment Platform Overview

An investment platform called Ten East, founded by Michael Lefel, offers sophisticated investors access to private markets similar to a family office setup without the associated costs. Members have opportunities to co-invest in private credit, real estate, venture, and private equity, aligning with the team's over a decade track record and commitment to ongoing monitoring and reporting for institutional-grade investments.

Intro

2min

Exploring the Public Equity Effort at Stockbridge within Berkshire Partners

5min

Berkshire Partners' Venture into Public Equity Investments

21min

Insights into Portfolio Management and Position Sizing at Stockbridge

5min

Navigating Consensus Decision Making and Board Involvement in Public Equity Investing

4min

Navigating Public and Private Markets for Long-Term Investing Success

22min

Discussions on Hobbies, Surprising School Connection, Toughest Job Experience, and Pet Peeves

3min

Professionally Influential Figures and Founding Values

2min

Rob Small and Anil Seetharam are Managing Directors and founding members of the Stockbridge team at Berkshire Partners, a $5B concentrated public equity manager that sits inside the $20B private equity firm. Unlike many public equity strategies at private equity firms, Stockbridge works closely and collaboratively with Berkshire’s private equity team on its investment research and has attracted an enviable client roster of some of the most respected allocators in the world. Our conversation covers Rob and Anil’s history at Berkshire and the steps they took to launch Stockbridge in 2007. We discuss their collaboration with Berkshire’s private equity team, investment criteria, deep dive research, decision-making process, portfolio management, board involvement, management of stock volatility, sell decisions, mistakes, and lessons learned over the last 17 years.

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