Capital Allocators – Inside the Institutional Investment Industry André Perold – Pockets of Inefficiency at HighVista Strategies (Capital Allocators, EP.169)
Dec 21, 2020
Join André Perold, Co-Managing Partner and CIO of HighVista Strategies, as he shares his journey from a renowned investment professor to leading a $4B firm. He discusses the evolution of HighVista's investment strategies, focusing on inefficiencies in biotech, private credit, and litigation finance. André highlights the importance of adaptability, transparency, and long-term perspectives in complex markets. He also reflects on professional relationships and personal habits that drive success in the investment world.
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Adapting to Change
- HighVista's core investment approach remains opportunistic, seeking returns across asset classes.
- The firm adapts to the ever-changing market conditions, acknowledging alpha's scarcity and transient nature.
Evolving Investment Model
- HighVista has evolved from a one-pool endowment model to offering specialized strategies.
- This allows them to cater to clients with varying needs and preferences, providing more flexibility.
Shift in Focus
- HighVista moved from allocating to asset categories to focusing on idiosyncratic opportunities.
- They prioritize inefficient markets and collaborate with smaller, specialized partners for execution.