Capital Allocators – Inside the Institutional Investment Industry Alan Forman – Yale Endowment Real Estate (EP.340)
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Sep 25, 2023 Alan Forman, former Director of Real Estate at Yale Investments Office, shares his profound insights from over three decades in institutional investment. He emphasizes the critical role of alignment and personal connections in real estate strategies. Alan discusses mentoring emerging managers through his venture, Blue Orchard Capital, and elaborates on the collaborative dynamics of investment decision-making. He also reflects on Yale's shift towards innovative investment structures and the importance of building trust within strategic partnerships for long-term success.
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Forman's Early Yale Days
- Alan Forman joined the Yale Investments Office in 1990 during a difficult real estate market.
- He initially managed Yale's directly owned real estate and transitioned to a private equity model.
Yale's Open Culture
- The Yale office fostered open communication and included younger staff in high-level discussions.
- This inclusive environment promoted teamwork and provided valuable learning experiences.
Manager Due Diligence
- Focus on understanding a manager's background and motivations, not just the deal itself.
- Assess how they respond under pressure to gauge long-term partnership potential.