Capital Allocators – Inside the Institutional Investment Industry Greg Dowling – Mid-Market Institutional Consulting at FEG (Capital Allocators, EP.248)
May 2, 2022
Greg Dowling, CIO and Head of Research at Fund Evaluation Group, dives into the evolving world of mid-market institutional consulting with insights from his rich background. He explains FEG's unique employee-owned structure and its approach to portfolio management and manager selection. The conversation features discussions on current market dynamics, touching on private equity and venture capital opportunities. Greg also shares his passion for community engagement through a charity hockey event that brings together investment professionals.
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Greg Dowling's Career Path
- Greg Dowling's career started in commercial lending, then asset management at an AMG affiliate.
- He transitioned to FEG after realizing the firm's quirky investment strategies lacked hedging.
Consulting Industry Consolidation
- Many original consulting firms, founded in the 80s, faced consolidation due to founders' liquidity events.
- The challenge lies in transferring ownership as a consultant's primary assets are their employees.
FEG's ESOP Structure
- FEG maintains independence through an ESOP structure, ensuring all employees are owners.
- This model promotes shared ownership and has contributed to their sustained independence.
