Capital Decanted

The Outsourced Chief Investment Officer—once a last resort option for sub-scale capital pools looking to avoid the hassle and cost of building their own investment office to today, a multi-trillion dollar subset of the asset management profession and arguably the hottest structural trend in the industry. Take a listen while we examine: What insights and opportunities led to the creation of this segment of organizations and why has that exploded in the ensuing four decades?  What defines a successful OCIO? And why has that trajectory and evolution seemingly reached an inflection point—hyperdrive really-- in the last five years that has redefined the space and encouraged newer, larger entrants? Introduction (0:48) Halftime (37:44) Guests (41:37) Guests: Mark Anson, CAIA, CFA;  CEO, President and CIO, Commonfund Sarah Samuels, CAIA, CFA: Partner, NEPC Episode Sources

Explore the impact of geopolitics on investments, historical events like Gorbachev's speech and the fall of the Berlin Wall, challenges of integrating geopolitics into investment strategies, and the significance of understanding local contexts and geopolitical risks in emerging markets.

In order for the capital markets system to continually grow in its transparency, efficiency and fairness, it needs a combination of free market ingenuity and regulatory protection. With the meteoric rise and importance of alternative investments in the past decade, did the SEC strike that balance correctly with the new Private Advisors Rule? Directionally, probably yes but certainly the details are far from perfect and unintended consequences are inevitable. With an aim to provide a practical guide for the layman practitioner, we explore the history of light touch regulation of private funds, highlight the important elements and implications of the rule, and explain why CAIA joined ILPA and many asset owners in submitting an Amicus Brief to the 5th Circuit Court of Appeals defending the spirit of the rule. Introduction (0:47) Halftime (52:41) Guests (58:35) Guests: Jen Choi, CEO, ILPA Jon Grabel, CIO, Lacera ⁠Episode Sources

This episode had to happen.  The origin story of this show necessitated it.  And what better timing then to release it as our holiday special when many of you around the world will be sitting around the table with family and friends, breaking bread and sharing a bottle of fine fermented grape juice.  But beyond our passion for drinking and socializing around wine, is there an investable asset class here yet?  We examine the history of wine investing, the lifecycle of the grape, and the very unique investment characteristics of each stage of the lifecycle.  Then we invite two experts, both of which have brought the category to mainstream acceptance in different ways, on either end of that production spectrum to help us think through this burgeoning opportunity set. Introduction (0:48) Halftime (49:00) Guests (54:54) Guests: Matthew Parker, Head of Viticulture, Nuveen Natural Capital Anthony Zhang, CEO, Vinovest Episode Sources

A healthy culture is the oxygen by which you accomplish the work of the organization. It breathes life and vitality into the collective work of the enterprise. It gives meaning and connection to a shared purpose or goal. And it is predictive of sustainable outsized investment performance. And yet, cultivating healthy organizations have rarely been a defining characteristic of the investment industry. Why? And how can we accelerate the profession’s social license with a renewed focus on culture? Introduction (0:48) Halftime (45:23) Guests (51:25) Guests: Kim Lew: CEO of Columbia Investment Management Company Jim Dunn: CEO of Verger Capital Management Episode Sources

Delving into the importance of governance in investment management, the podcast explores models of separation of duties, the potential for strong governance to improve returns, and the value of diverse perspectives. It also highlights the challenges of balancing stakeholder interests, navigating outdated governance models, and embracing collaborative innovation in financial governance.

Democratization is a word loaded with independence, equal access and even Americana, it’s a concept that conjures up a binary and heated debate about fairness and liberty of choice but is democratization always good? Is it the government’s role to restrict individual citizens from what they deem risky assets or should we simply demand standards of transparency and reporting and trust adults with their own money?  Listen in to find out more! Introduction (0:47) Halftime (53:30) Guests (59:23) Guests: Joan Solotar, Global Head of Private Wealth Solutions, Blackstone Fran Kinniry, Principal, Head of Vanguard Investment Advisory Research Center, Vanguard Episode Sources

"Private Market Valuations" is a fascinating podcast featuring Scott Kupor and Andrea Auerbach. They delve into the controversial topic of private market valuations, discussing the relevance of interim valuations, challenges in valuing early-stage venture sites, and potential manipulation in the valuation process. The podcast also highlights the client-first mentality of Franklin Templeton Alternatives and explores the impact of the economic environment on VC funds and portfolio companies. The importance of consistency and transparency in private market valuations is emphasized, along with the need for better communication and standardization in the industry.