Capital Allocators – Inside the Institutional Investment Industry Jennifer Heller – Beginner’s Mind with Professional Wisdom at Brandywine (Capital Allocators, EP.211)
Aug 30, 2021
Jennifer Heller, President and Chief Investment Officer of Brandywine Group Advisors, manages $12 billion in family endowments. In this discussion, she emphasizes the power of a beginner's mindset for fostering creativity and collaboration within investment teams. Heller dives deep into investment strategies in sectors like affordable housing and crypto, revealing how structured processes guide innovative thinking. She also shares insights on evaluating managers through Key Decision Indicators and highlights the importance of team dynamics and culture in successful investment strategies.
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Beginner's Mind
- Jenny Heller's genius is approaching everything with a beginner's mind, crucial for Brandywine's generalist team exploring unknowns.
- This mindset fosters humility and connects ideas across asset classes, but can make it hard to stand firm in her beliefs.
Sourcing Investments
- Sourcing new investments requires clarity of vision. Establish gating questions and focus on durable managers and strategies.
- Test potential returns upfront and avoid tactical opportunities unless truly extraordinary.
Affordable Housing Deep Dive
- Brandywine's deep dive into affordable housing involved extensive research across stakeholders, regulations, and investment options.
- This 'discovery, connect, identify' process, though time-consuming, ultimately confirmed their existing investment approach was optimal.