Capital Allocators – Inside the Institutional Investment Industry 2023 Top Episode #4: Stan Miranda – Modern Endowment Model at Partners Capital, EP.334
Dec 26, 2023
Stan Miranda, founder and chairman of Partners Capital, shares his journey in institutional investing. He discusses creating transparency and independence post-tech bubble and navigating the complexities of the endowment model. The conversation highlights the challenges in biotech and venture capital, emphasizing the importance of rigorous due diligence and innovative strategies. Miranda also explores emerging asset classes like crypto and AI, along with the dynamics of succession in asset management. Personal anecdotes and insights on investment strategies add an entertaining touch.
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Partners Capital's Origin
- Stan Miranda and Paul Dimitruk, both private equity investors, founded Partners Capital after the tech bubble burst.
- Their concentrated private equity holdings plummeted, highlighting the need for diversification.
Private Bank Issues
- Existing private banks offered conflicted products with poor transparency and benchmark issues.
- This prompted Miranda and Dimitruk to create an independent firm focused on transparency and proper analysis.
Initial Capital Base
- Partners Capital launched with $7.7 million from 43 clients, mostly private equity GPs.
- These clients trusted Miranda and Dimitruk to build the firm's expertise beyond private equity.
