Dakota Live! Podcast

In this episode of the Dakota Live! Podcast, host Robert Morier sits down with Roger Vincent, Founder and Chief Investment Officer of Summation Capital.With over 25 years of experience in private equity, Roger shares his unique insights on how to approach private equity investing with an endowment-style philosophy. He discusses the importance of diversification, the balance between qualitative and quantitative analysis, and how to build a resilient portfolio that looks ahead—"underwriting from the windshield."Tune in to learn:The power of diversification and vintage risk managementRoger’s approach to manager selection and portfolio constructionHow Summation Capital aims to reshape private equity access and feesWhy long-term vision and adaptability are crucial for investment successRoger's in-depth conversation covers his journey from leading Cornell University’s private equity portfolio to launching Summation Capital, his innovative approach to co-investments, and how private equity strategies can help achieve long-term success.Whether you’re an investor, manager, or student, this episode is a masterclass on navigating the complexities of private equity with precision and foresight.

In this episode of the Dakota Live! Podcast, Robert Morier sits down with Steven Foresti, Senior Advisor of Investments at Wilshire, who brings over 30 years of experience in investment management. Steve has played a key role in shaping Wilshire’s research efforts and supporting both public and private market strategies.Wilshire offers a wide range of investment solutions and services for institutional investors, financial advisors, and intermediaries. They focus on tailored advisory and outsourced CIO services. With over $1.4 trillion in assets under advisement and $121 billion in assets under management, Wilshire delivers advanced financial analytics, market-leading indexes, and innovative investment solutions to optimize portfolios and improve investment outcomes.Join us as we explore how Wilshire is addressing today’s market volatility, the role of outsourced CIOs, and how institutions are adapting their portfolios for long-term success. We also dive into Steve’s career journey, leadership style, and his thoughts on the future of asset allocation.In sharing his career journey, Steve also discusses how his experiences with vision loss shaped his adaptability, resilience, and collaborative leadership style.He discusses the evolution of manager research, emphasizing how advances in technology have transformed the way data is gathered and analyzed. Steve also offers insights into Wilshire’s approach to investment processes, underscoring the importance of trust, transparency, and respecting the process in manager selection.Additionally, Steve explores the role of due diligence at Wilshire, explaining how a structured approach drives successful outcomes in both public and private markets.Whether you’re an investment professional, allocator, or simply curious about asset management, this episode provides invaluable insights into the way Wilshire operates and Steve’s inspiring leadership journey.Don’t miss this opportunity to learn from one of the industry’s leading voices as he reflects on his experiences and shares his vision for the future of investment management.

In this episode of the Dakota Live! Podcast, Robert Morier sits down with Lisa Cawley and Jamie Rhode from Screendoor, an investment platform focused on backing the next generation of venture capital managers.Lisa, Jamie, and Layne Johnson, who was unable to attend the recording, represent Screendoor, an investment platform that invests in new managers, driving the next wave of innovation and new perspectives in venture capital. They provide limited partners with access to highly competitive managers, driving alpha that would be challenging for them to otherwise identify, access, and underwrite.The conversation explores how Screendoor is addressing critical gaps in the venture capital ecosystem by identifying and supporting new managers, who are driving innovation and building the next wave of venture firms.Whether you're an allocator, an emerging GP, or just curious about venture capital, this episode provides invaluable insights into how Screendoor's unique approach combines allocator expertise with GP advisors to unlock access to early-stage managers with high return potential.Lisa and Jamie explain how Screendoor evaluates emerging managers by looking beyond the numbers, focusing on grit, resilience, and unconventional backgrounds to discover the next industry leaders.Tune in to learn how Screendoor is transforming venture capital by providing access for institutional investors to engage with early-stage managers, fostering a community-driven approach that emphasizes the value of relationship building.Along the way, Lisa and Jamie share real-world examples of how their hands-on approach has helped early-stage managers navigate the challenges of firm building and capital allocation, illustrating how innovation and new perspectives can drive alpha in venture capital.Don’t miss this opportunity to discover how Screendoor is shaping the future of venture capital, empowering allocators and GPs alike.

In this episode of the Dakota Live! Podcast, Robert Morier sits down with Kelly Kiel Garramone, CEO of KRW International, to explore how character science is impacting manager research and asset allocation in investment management. Whether you’re an allocator or an asset manager, this episode offers invaluable insights into how character-based leadership can lead to financial success and stronger decision-making.In an industry where people and culture are recognized as key drivers, why does understanding them remain such a mystery in the due diligence process?Kelly Garramone and KRW International shed light on the connection between behavior and action, revealing the key attributes that top investment leaders display when managing an organization, team, or strategy.Tune in to discover how character influences everything from succession planning and organizational culture to managing senior talent and optimizing capacity. Kelly also shares best practices for understanding investor temperament and improving execution.From an asset allocator’s perspective, you'll learn how understanding your own character is crucial before evaluating the character and leadership of others, and how character-based metrics can improve the overall performance of your team and the investments you select.For asset managers, discover how small behaviors, such as keeping promises and ensuring congruency between words and actions, can translate directly into business growth and long-term financial performance.Along the way, we dive into real-world examples from private equity and asset allocator case studies, illustrating how character-driven leadership brings tangible results.Don’t miss this opportunity to see how character science can shape the future of your investment strategy, team dynamics, and manager research.

In this captivating episode of the Dakota Live! Podcast, host Robert Morier welcomes Chris Schelling, Managing Director of Private Markets at Caprock, to explore the intricate world of alternative investments. With a rich background spanning over two decades in the investment industry, Chris has been at the forefront of building portfolios with a keen focus on alternatives, achieving remarkable success through his strategic allocations across hedge funds, real assets, private credit, and private equity.Caprock is a multifaceted wealth advisory firm that specializes in providing comprehensive investment and wealth management solutions to high-net-worth individuals, families, and institutional investors.Serving over 300 families, Caprock advises on assets of $8.9 billion dollars as of December 31, 2023. Of which, $4.1 billion is allocated to private markets, and $2.2 deployed with impact intentionality. The firm is an SEC-registered investment advisor and a founding B-Corporation headquartered in Boise, Idaho.Join us as Chris shares insights from his extensive journey, including the evolution of alternative investments and the importance of sustainability in modern investment portfolios. He also dives deep into his analytical approach to portfolio construction, manager selection, and the critical role of manager research in achieving top-tier investment returns.Chris is an influential voice in the investment community, sharing his insights and analyses through various publications including his book, ‘Better Than Alpha.’  His writings delve into the nuances of the illiquidity premium, the dynamics of alternative investments, and the evolving landscape of private equity and hedge funds.This episode is a must-watch for anyone interested in the complexities and opportunities within alternative investments, from seasoned professionals to those just starting their journey in the finance industry. Chris's expertise and unique perspectives provide invaluable lessons on navigating the alternative investment landscape and leveraging it for future success.Whether you're looking to understand the nuances of private equity, hedge funds, or the impact of technological advancements on investment strategies, this conversation offers a comprehensive overview of the current trends shaping private markets.Don't forget to subscribe to our channel for more episodes filled with expert insights and strategies from leading figures in the investment industry. If you find this episode valuable, please like, share, and comment below with your thoughts or questions.

In this episode of the Dakota Live! Podcast, we sit down with Gustavo Cardenas, Managing Director at Wafra, a global investment firm with over $30 billion under management. Headquartered in New York, Wafra has clients around the globe and is owned by the Public Institution for Social Security of Kuwait (PIFSS).Gustavo specializes in strategic partnerships, also known as GP stakes investing. This asset class, involving backing asset management businesses, has garnered significant interest in the past few years. Wafra was one of its pioneers – it carried out its first GP stakes deal back in 2012.Wafra focuses on two different types of strategic partnership deals: seeding and staking. The firm backs both established firms as well as the most promising next-generation alternative investment managers. Typically, it regards established firms as those with AUM of more than $5 billion. Anything below that would classify as an emerging business.Join host Robert Morier as he delves into Gustavo’s unique journey from Nicaragua to New York City, and how he became a leading force in GP stakes investing at Wafra.We explore the intricacies of strategic partnerships, the future of private equity, and the role of catalytic capital in emerging markets. Gustavo shares valuable insights on what it takes to succeed in the ever-evolving landscape of private markets, offering a deep dive into Wafra’s investment strategies and the firm's vision for the future.Whether you're an institutional investor, asset manager, or just curious about the behind-the-scenes dynamics of private equity, this episode is packed with expert advice and thought-provoking discussions.Tune in to learn more about Gustavo’s personal and professional journey, the mentors who shaped his career, and his perspective on the future of GP stakes investing.

In this insightful episode of the Dakota Live! Podcast, we sit down with Celicia Chaung, Deputy CIO of Windrose Advisors, to explore the intricacies of manager research, market insights, and asset allocation strategies that have defined her 20-year career in the investment industry.Celicia shares her journey from an aspiring doctor to a leading voice in hedge fund research and asset management, offering invaluable advice on finding differentiated managers and constructing resilient portfolios in today's volatile market.Why You Should Listen:Gain exclusive insights into Windrose's approach to manager research and selection.Understand the current market trends and how Windrose Advisors positions their portfolios defensively and opportunistically.Learn the value of a diversified asset allocation strategy from a seasoned industry expert.Tune in to learn how Windrose Advisors navigates the complexities of alternative investments, the importance of a global perspective, and the strategic thinking behind their diversified portfolios.Whether you're an investment professional, a curious learner, or someone seeking a deeper understanding of the financial world, this episode is packed with actionable insights that you won't want to miss.

In this episode of Dakota Live! Podcast, Robert Morier sits down with Chavon Sutton, Senior Investment Director at Cambridge Associates, for an inspiring conversation that transcends traditional finance. Recorded at the TIDE Spark 2024 conference in Dana Point, California, Chavon shares her incredible journey to becoming a leader in sustainable and impact-driven investing.Chavon discusses how Cambridge Associates seamlessly integrates sustainability, diversity, and long-term value creation into the investment process. She shares her approach to manager research, emphasizing the importance of intentionality and collaboration with investment managers committed to making a real-world difference.Throughout the episode, you’ll discover how Chavon is guiding clients to invest in innovative solutions addressing the world’s most pressing challenges, from climate change to healthcare equity. Her unique perspective on balancing financial returns with social and environmental impact is essential listening for anyone looking to align their investments with impact.Whether you're a seasoned finance professional or new to the industry, this conversation provides valuable insights into how the future of finance can merge profit with purpose. Tune in to learn how Chavon Sutton and her team at Cambridge Associates are shaping a more sustainable, equitable future through smart, impact-focused investing.

In the latest episode of the Dakota Live! Podcast, Robert Morier sits down with Daniel Pogue, Vice President at Moelis Asset Management, and a pivotal member of the Catalyst Partners team.  Join us as we delve into the nuances of private equity seeding and the critical role Catalyst Partners plays in empowering emerging private equity managers.Moelis Asset Management is a global investment management firm providing asset management services across various strategies, including private equity, credit, and real assets.  Moelis Asset Management is a New York city based asset management firm with approximately 8 billion in assets under management across strategies, such as broadly syndicated loans, direct lending, venture capital, and more. Within the firm, the Catalyst Partners team focuses on partnering with emerging private equity managers, providing strategic capital, operational support, and extensive networks to help these managers grow and succeed.Daniel focuses on partnering with emerging private equity managers, encompassing responsibilities such as manager research, investment sourcing, and capital formation.Key Takeaways:Strategic Anchor Capital: Daniel emphasized the importance of providing early, scalable capital to emerging managers. Catalyst Partners doesn't just bring funding; they offer strategic value-add services that help managers build their firms and navigate the complexities of the market.Focus on Emerging Managers: Catalyst Partners is particularly focused on Fund I opportunities, where they see the most potential for growth and partnership. By providing foundational support, they help these managers transition from concept to reality.Value-Add Beyond Capital: Beyond financial backing, Catalyst Partners acts as a true partner, offering guidance on back-office operations, networking opportunities, and introductions to LPs. Their approach is hands-on, ensuring that managers are well-equipped to succeed in a competitive landscape.Human Capital and Team Dynamics: A significant part of Catalyst’s evaluation process is understanding the team dynamics and personality traits of the managers they back. Daniel discussed how they look for qualities like humility, decisiveness, and adaptability, which are crucial for long-term success.The Independent Sponsor Space: Daniel shed light on the evolving landscape of independent sponsors and how Catalyst Partners views this space as a fertile ground for sourcing high-quality opportunities.If you're interested in private equity, emerging manager programs, or investment management solutions, this episode is a must-listen. Daniel’s insights provide a comprehensive understanding of the seeding process and how Catalyst Partners is shaping the future of private equity.

In the latest episode of the Dakota Live! Podcast, Robert Morier welcomes Quincy Brown, Managing Director at Fund Evaluation Group (FEG) and a prominent leader in promoting inclusive investment practices within the asset management industry. With over 27 years at FEG, Quincy has significantly contributed to the creation and implementation of initiatives that support diversity among managers, making a substantial impact on the investment advisory landscape.This episode not only highlights the sophisticated strategies and manager research practices employed by FEG but also offers a deeper insight into Quincy’s leadership and his forward-thinking approach to managing diversity within the investment sector.Discover the insights and strategies that Quincy and FEG bring to the table:Learn about Quincy’s pivotal role in launching FEG's Diverse Manager Initiatives, focusing on creating inclusive environments and identifying diverse investment opportunities.Explore how community foundations can lead the way in fostering inclusive practices within the asset management industry, setting examples for other types of investors.Understand the importance of education in fostering diverse perspectives and promoting inclusive investment strategies.Gain insights into Quincy's personal career journey, the mentors who have shaped his path, and his advice for asset managers seeking to increase diverse representation.Whether you're an industry professional or an aspiring investor, this discussion will enrich your understanding of investment management and the value of diverse investment practices.Tune in to explore the intricacies of FEG’s strategies and what sets them apart in the investment world.