Jim Bethea, Chief Investment Officer at the University of Iowa Foundation, manages a $1.7 billion endowment with just five staff members. He discusses the unique challenges of operating a lean team, sharing insights on asset allocation, manager selection, and the myths surrounding diversification. Jim explains why Iowa focuses on specialized asset classes, particularly the lower middle market in private equity. He offers candid advice on governance, decision-making dynamics, and when to re-evaluate investments, emphasizing the importance of building solid relationships in the investment community.
