Capital Allocators – Inside the Institutional Investment Industry Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129)
Apr 9, 2020
Steve Nelson, CEO of the Institutional Limited Partners Association (ILPA), discusses his extensive experience and the vital role of ILPA in supporting limited partners. He shares insights into the current challenges facing private asset allocators, such as communication hurdles and the evolving landscape of impact investing. Nelson emphasizes the need for transparency and structured reporting between limited partners and general partners. He also reflects on the importance of adaptive strategies during turbulent economic times while promoting a proactive approach to capital management.
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Unexpected Opportunity in Asia
- Steve Nelson joined Cambridge Associates after graduating Boston College, unsure of his career path.
- An unexpected opportunity led him to help establish their Asia-Pacific presence in Singapore.
Leadership Lessons
- Recognize that every organization and investment program is unique, avoid preconceived notions.
- Connect closely with your team, ensuring a shared vision and understanding of individual contributions.
LP-GP Power Imbalance
- The private equity playing field has been tilted in favor of GPs for years, making terms negotiation difficult for LPs.
- LPs have adapted by prioritizing key concerns like fiduciary duty, reporting, and LPAC rights.