Dakota Live! Podcast

Join us for an insightful episode of the Dakota Live! Podcast featuring Andrea Lo, Founding and Managing Partner at Main Character Capital. Andrea shares her unique journey across venture capital, fund operations, and blockchain innovation—and how those experiences led her to launch a GP seeding strategy focused on backing the next generation of bold, high-conviction fund managers. In this episode, Andrea breaks down the art and science of sourcing emerging GPs, conducting institutional due diligence, and designing bespoke GP staking deals with long-term alignment in mind. She also shares how she identifies "main character" managers, what makes a differentiated fund strategy, and how LPs can access uncrowded opportunities in venture, private equity, and digital assets. Topics Covered:✅ The evolution of GP staking and how it applies to venture✅ Sourcing and underwriting next-gen managers✅ Structuring incentive-aligned partnerships between LPs and GPs✅ Why authenticity, adaptability, and strategic storytelling matter Whether you’re a current allocator, emerging manager, or student of the industry, Andrea’s perspective offers a masterclass in identifying and cultivating long-term investment franchises.Andrea Lo: https://www.linkedin.com/in/andreatlo/Robert Morier: https://www.linkedin.com/in/robertlmorier/Our Website:https://dakota.comGuest Website:https://www.maincharactercapital.com/📺 Watch the Podcast:YouTube: https://www.youtube.com/@DakotaLivePodcast🎙️ Listen to the Podcast:Spotify:https://open.spotify.com/show/3NUXRMzfr56xQ9VDeavhjN?si=bc5764c861054069Apple Podcast:https://podcasts.apple.com/us/podcast/dakota-live-podcast/id1652357638Chapter Markers:00:00 Intro01:56 Andrea Lo intro04:17 GP Staking versus Fund to Funds06:15 Career path11:14 Desirable traits of partners13:25 Sourcing partners20:29 High yielding questions for partners27:30 Crowded markets30:27 First 90 days after an investment37:06 Portfolio construction41:55 Global opportunities45:47 AI defense49:41 AI outpacing its infrastructure54:59 Key experiences01:01:28 Where the strategy fits in an allocation modelMain Character Capital is a private investment firm. This podcast is intended solely for informational purposes and should not be construed as investment advice or an offer to sell, or a solicitation of an offer to buy, any securities or investment products. All opinions expressed are current as of the date of recording and are subject to change without notice. Certain information has been obtained from third-party sources believed to be reliable, but Main Character Capital makes no representations as to its accuracy or completeness. All investments involve risk, including the potential loss of principal, and there is no guarantee that past performance will be indicative of future results.

Sean Poe, Director of Investment Manager Research at Key Private Bank, shares his journey from engineering to finance, revealing valuable insights on investment management. He discusses the seven P's framework for manager selection—people, process, performance, etc.—and introduces his innovative concept, 'Poe's Alpha.' The conversation covers the balance between skill and luck in investing, effective networking strategies, and the critical role of operational experience in making better allocation decisions. Listeners gain a fresh perspective on building trust and alignment in manager relationships.

In this engaging conversation, Jamie Biddle, Founding Partner and CEO of Verdis Investment Management, shares his insights on multi-generational investing for the DuPont family. He explains how legacy influences long-term investment strategies and the unique mindset of family offices compared to traditional institutions. Jamie recounts his transition from venture capital to establishing Verdis, highlighting the importance of trust and behavior in manager selection. Listeners will also learn about balancing risk with long-term compounding and the strategic significance of co-investments.

In this episode of the Dakota Live! Podcast, host Robert Morier sits down with Alex Band, Chief Investment Officer of Partners Capital, for an in-depth discussion about the evolving landscape of institutional investing and Outsourced Chief Investment Officer (OCIO) services.Alex shares his journey from biochemical sciences to finance, pivotal lessons from his career, and how these experiences have shaped his contributions at Partners Capital.Discover how Partners Capital approaches OCIO services with a focus on dynamic strategies, emerging managers, and innovative investment structures. Alex also provides a sneak peek into the key elements of their investment program, exploring features such as talent acquisition, manager selection, and risk management.Packed with valuable insights, this episode offers a forward-looking perspective on investment opportunities for 2025 and advice for young professionals entering a complex world.Tune in to learn how discipline, curiosity, and adaptability drive success in investment management.

In this episode of the Dakota Live! Podcast, host Robert Morier sits down with Chris Burrows, Partner at Cerity Partners, to explore the modern allocator’s toolkit for private market manager selection.With nearly two decades of experience leading private markets research, Chris shares how data, technology, and deeper qualitative insights have reshaped due diligence—going far beyond past performance.From virtual due diligence to the increasing role of culture in manager assessments, this conversation dives into the key trends shaping private markets today.Chris also reflects on the importance of relationships in capital allocation, the growth of private markets, and how Cerity’s scaled fiduciary approach is redefining client and manager partnerships.Tune in for insights on:✔️ How manager selection has changed over the years✔️ The balance between quantitative and qualitative diligence✔️ The rise of non-traditional and emerging managers✔️ Navigating liquidity challenges in private investmentsPlus, Chris shares his own career journey, from Home Depot cart collector to leading private market investments at a $100B+ firm.Join us for this informative and insightful episode with Chris Burrows and Cerity Partners.

In this compelling episode of the Dakota Live! Podcast, host Robert Morier sits down with Renee Hanna and Kailey Ransom from Baylor University's Office of Investments to explore how a mission-driven approach informs manager research, team dynamics, and long-term investment success.Baylor’s $2.1 billion endowment supports a range of initiatives including scholarships and professorships—and behind the numbers is a deeply collaborative team led by values, diligence, and a commitment to developing strong investment partnerships.Renee, Managing Director of Investments, shares insights from her 17-year tenure building out Baylor’s private markets portfolio with intentionality and discipline. Kailey, a rising talent and investment analyst, reflects on her transition from Baylor student to staff and the unique opportunity to learn from a tight-knit, high-performing team. Together, they walk us through how manager selection at Baylor is guided not only by performance, but by integrity, alignment of values, and a firm’s "why"—what drives them beyond money.Key takeaways for listeners:• Integrity is a Non-Negotiable: Baylor's deep-dive due diligence starts with reference checks from friends, neighbors, and former colleagues.• Team Collaboration Matters: With a flat structure and shared decision-making, the private investment team evaluates every GP through a unified lens.• Focused and Intentional: With a relatively concentrated private markets book (favoring sub-$500M funds in tech, healthcare, and consumer), Baylor only adds 1–2 managers annually—and expects to grow alongside them.• Mission Alignment: The endowment supports transformational student experiences, making investment outcomes personal for the team.• The Waco Advantage: A tight campus community away from coastal financial centers allows the team to think independently while staying connected to its purpose.Whether you're an allocator, GP, or student considering a career in finance, this episode offers a rare look into how a university investment office balances discipline, culture, and conviction in building a portfolio that lasts generations.

In this episode of the Dakota Live! Podcast, host Robert Morier welcomes back Jennifer DeSisto, Chief Investment Officer of CW Advisors, for a wide-ranging conversation about her new role and the rapidly evolving RIA landscape.Now overseeing a $14 billion platform, Jen shares how she's building out CW Advisors’ investment platform from the ground up, integrating private markets, tax-managed strategies, and institutional-level manager research across a growing network of acquired firms. With a sharp focus on scalable infrastructure, Jen walks us through what it takes to harmonize disparate teams, systems, and philosophies into one unified, forward-looking investment platform.Listen for insights on:Building a CIO-led investment process in a fast-growing RIAThe current outlook for private equity, private credit, and hedge fundsWhat RIAs need from asset managers today—and what makes a great pitchCW’s approach to structuring its team and onboarding acquired firmsHow semi-liquid structures and platforms like CAIS are shaping private market accessThe priorities for expanding into public markets, emerging markets, and co-investmentsRecruiting and mentoring investment talent in a competitive environmentWhether you’re an allocator, asset manager, or just curious about how RIAs are evolving into institutional-caliber investors, this episode offers a behind-the-scenes look at strategy, integration, and leadership in action.

In this special release episode of the Dakota Live! Podcast, we sit down with Jasper Gould and Emile Chilingirian, co-founders of the Brooklyn Youth Charitable Investment Group (BYCIG), just as students in New York and across the country begin their spring break.It’s a timely opportunity to pause, reflect, and start conversations that matter—like how we talk to our kids about money, investing, and making a difference.Together, we explore how a student-led initiative is managing real investment portfolios, giving back through philanthropy, and showing that the path to financial literacy can (and should) start early—with support from families, schools, and communities.This is a perfect episode to listen to together with your kids over the holiday break and spark meaningful discussions about money, responsibility, and the world around them.

In this engaging conversation, Anthony Minopoli, President and CIO of Knights of Columbus Asset Advisors, shares his nearly two-decade journey in investment leadership. He offers unique insights into ethical investing rooted in Catholic values, emphasizing the importance of process and people in manager evaluation. Topics include the evolution of Knights of Columbus strategies, the impact of alternative investments, and personal anecdotes from the industry. Minopoli also discusses the balance between risk management and ethical compliance, making this discussion a treasure trove for aspiring investors.

In the latest episode of the Dakota Live! Podcast, Robert Morier welcomes Frank Valle, Associate Director of Fixed Income at Marquette Associates, for a thoughtful and practical conversation on manager research, fixed income portfolio construction, and the evolving dynamics of investment consulting.Frank shares insights from nearly two decades in the industry, offering valuable perspective for both asset managers and institutional allocators. From core and core-plus strategies to satellite exposures like structured credit and emerging market debt, Frank explains what makes a manager stand out—and what makes a process sustainable.Key topics include:The critical role of communication and team dynamics in evaluating investment managersMarquette’s four-phase manager review process and how it applies across asset classesAttributes that define successful fixed income strategies, including risk positioning and alpha generationHow Marquette constructs fixed income portfolios for OCIO clients using core, core-plus, and multi-sector approachesTrends in investment vehicles, including separate accounts, commingled funds, mutual funds, and ETFsThe growing relevance of structured credit and enhanced indexingPerspectives on private credit, liquidity risk, and the blending of public and private fixed incomeThe future of technology and AI in the manager selection process—and the enduring importance of relationshipsWith higher yields and increased dispersion across credit sectors, the current environment has brought fixed income back to the forefront of institutional portfolios. As interest rates, inflation expectations, and geopolitical risk continue to shape the market, understanding how managers assess credit, manage liquidity, and position portfolios is more important than ever for generating stable, risk-adjusted returns.Whether you are selecting managers or being selected, this conversation offers a clear window into what matters most to consultants and their clients today.