Capital Allocators – Inside the Institutional Investment Industry Stan Miranda – Modern Endowment Model at Partners Capital (EP.334)
6 snips
Aug 21, 2023 In this engaging discussion, Stan Miranda, Founder and Chairman of the $50 billion OCIO firm Partners Capital, shares insights from his 17 years at Bain & Company. The conversation dives into the inception of Partners and its unique interpretation of the endowment model. Stan elaborates on manager selection, risk management, and the strategic adaptation of investment practices post-COVID-19. He also tackles the evolving landscape of AI and cryptocurrency in investment, emphasizing the importance of relationship-building and ethical practices in portfolio management.
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Partners Capital Founding
- Stan Miranda and Paul Dimitrik, both private equity investors, noticed private banks' conflicts of interest and lack of transparency during the tech bubble burst.
- This led them to found Partners Capital, an independent firm focused on transparency and proper analysis.
Triangulation and Asset Class Focus
- Triangulate insights by talking to various experts and sources.
- Root your investment strategy in deep insights about each asset class, not just manager selection.
Endowment Model Pillars
- The endowment model's three pillars are high static risk, multi-asset class diversification with an illiquidity bias, and a preference for specialist managers.
- This approach emphasizes long-term investments, diverse holdings, and alignment of interests with managers.
