Capital Allocators – Inside the Institutional Investment Industry Michael Leffell – Opening Doors to Niche Private Opportunities at 10 East (EP.373)
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Mar 11, 2024 Michael Leffell is the Managing Member of Portage Partners and Founder of 10 East, an investment platform for sophisticated investors. In this discussion, he shares his unconventional journey from law to finance, highlighting key experiences that shaped his career. Leffell emphasizes the importance of adaptability and disciplined decision-making. He also dives into enhancing investment research capabilities, effective communication in investment write-ups, and the innovative edge that 10 East provides in connecting investors to private market opportunities.
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Montreal Upbringing
- Michael Leffell grew up in Montreal with a rabbi father, experiencing anti-Semitism and the rise of the Separatist Party.
- This environment fostered discussions focused on ideas rather than gossip, with frequent guest lecturers visiting their home.
From Law to Investing
- Michael Leffell transitioned from law to investing after finding litigation unrewarding.
- A chance encounter led him to M.H. Davidson, where he learned about distressed company investments.
Early Days at Davidson Kempner
- Starting at Davidson Kempner with limited resources, Michael Leffell's first task involved modeling financials with basic tools.
- This experience gave him a deep understanding of financial spreadsheets.