Capital Allocators – Inside the Institutional Investment Industry Tim Recker - Concentration at the James Irvine Foundation (Capital Allocators, EP.100)
May 20, 2019
Tim Recker, CIO of the James Irvine Foundation, has an impressive background in private equity and alternative investments. He discusses his transition from GE to various institutional roles, shedding light on the importance of governance and managing concentrated portfolios. Tim shares insights on co-investment strategies, the balance of flexibility and team structure, and the significance of due diligence. He also delves into hedge funds, the role of real estate and fixed income in portfolios, and strategies to prepare for market downturns.
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Early Career at GE
- Tim Recker joined GE, then the world's most valuable company, after graduating.
- He had an international assignment in Hong Kong during the 1996 Asian financial crisis.
Concentrated Portfolio at GE
- Tim Recker managed a $5 billion insurance portfolio at GE with only 15 managers.
- This experience taught him about concentrated investing and risk management early on.
Move to Michigan Retirement System
- Witnessing the demanding lifestyle of senior executives at GE, Tim Recker sought more work-life balance.
- He left GE to manage a $13 billion alternatives portfolio at the Michigan Retirement System.