John Skjervem, Chief Investment Officer at Utah Retirement Systems, oversees over $50 billion in assets and is known for his innovative governance strategies. He discusses how URS’s closed-door meetings enhance decision-making and return outcomes. Transparency can hinder investment performance, he argues, detailing URS’s unique approach. Skjervem also delves into the fund's heavy allocation to private equity and venture capital, and the strategic importance of direct investments in energy as a hedge against inflation, highlighting lessons learned from the 2008 crisis.