Capital Allocators – Inside the Institutional Investment Industry

[REPLAY] - Jennifer Heller – Thinking it Through (Capital Allocators, EP.07)

Aug 30, 2021

Jennifer Heller, President and CIO of Brandywine Trust Group, manages nearly $9 billion for families with a long-term investment focus. She shares her experiences from her early days in microfinance in Africa to leading family wealth management. They discuss the intricacies of selecting elite managers and the challenges of executing long-term strategies. Heller emphasizes the importance of mentorship and reflective learning in investment decisions, while also highlighting the need for adaptability in both personal and professional journeys.

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ANECDOTE

Microfinance Spark

Jenny Heller's interest in microfinance began in college during a semester in South Africa.
Exposure to developing economies and reading about the Grameen Bank sparked her interest.

question_answer

ANECDOTE

Lessons from Abroad

Living in South Africa and India taught Heller the value of patience and adapting to different paces of life.
She learned to slow down, observe, and absorb the surrounding culture.

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ANECDOTE

NGO Disillusionment

Heller's time in India working for an NGO led to disillusionment with the non-profit microfinance world.
The organization prioritized grants over impact and made poor financial decisions, focusing on appearances.

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Insights into Long-Term Capital Management

02:55 • 3min

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From Microfinance to Endowment Management

05:58 • 18min

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Navigating Family Wealth Management: Strategies for Long-Term Investment

23:42 • 3min

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Investment Management Insights

26:15 • 22min

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Balancing Work and Personal Life: Insights from a Hedge Fund Family

48:04 • 2min

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Building Community and Mentorship in Investment Allocation

49:58 • 3min

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Embracing Joyful Moments

52:39 • 4min

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Jenny Heller is the President and Chief Investment Officer of Brandywine Trust Group. Brandywine formed 25 years ago to manage the capital for a small group of families that all share a long-term, multi-generational time horizon. Today, it oversees almost $9B for those same families, much of it from compounding over a quarter century. The Group invests flexibly across asset classes, with a focus on partnering with people who they believe have sustainable competitive advantages, share their long-term vision, and have highly aligned interests. These elite managers often start with great ideas, but limited capital.

Before taking the helm at Brandywine five years ago, Jenny worked at the Sloan Foundation, Stanford University Management Company, and Merrill Lynch in its investment banking program. She is a graduate of Williams College, where she serves on its Investment Advisory Committee, and Stanford Business School.

Our conversation starts with Jenny’s frustrating experiences with a non-profit micro finance in India and South Africa and turns to her career allocating money on behalf of non-profits and families. We touch on subtleties in picking managers for taxable investors, challenges in executing a long-term strategy, learning from mistakes, and mentorship. Jenny’s clear and deep thought process provides pearls of wisdom throughout our conversation.

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