Capital Allocators – Inside the Institutional Investment Industry [REPLAY] Chris Heller - Weird Alternatives at Cordillera Investment Partners (Manager Meetings, EP.28)
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Dec 2, 2024 
Chris Heller, Co-Founder and Co-Managing Partner at Cordillera Investment Partners, dives into unconventional investments, including whiskey aging and even alligator farming. He discusses how niche assets provide unique opportunities for diversification amid turbulent markets. The conversation highlights the complexities of investing in spectrum for 5G and emphasizes the importance of ESG factors in decision-making. With a focus on innovative sourcing strategies, Heller shares his insights on navigating this 'weird stuff' to maximize returns.
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The Illusion of Alternatives
- Traditional alternative assets are becoming less alternative, leading to lower returns and increased correlations.
- Cordillera seeks truly alternative assets with uncorrelated risks and the potential for outsized returns.
Whiskey Aging
- Cordillera invests in whiskey aging, capitalizing on the bourbon boom and industry fragmentation.
- They purchase whiskey, age it, and then sell it to brands, benefiting from the predictable price appreciation during aging.
Sourcing Uncorrelated Assets
- Develop thematic approaches to sourcing investment opportunities, like focusing on water rights or income share agreements.
- Leverage your network and be open to exploring unconventional ideas.