Inside the Rope with David Clark

After seven years of trying, we’ve finally done it—this episode of Inside the Rope features one of the most influential figures in institutional investment in Australia: David Neal, CEO of IFM Investors and founding CIO and former CEO of the Future Fund, Australia’s $300+ billion sovereign wealth fund. David takes us behind the scenes of building the Future Fund from the ground up—how a clean slate, a world-class board, and a clear long-term mandate allowed for a new investment philosophy rooted in flexibility, illiquidity premiums, and global best practice. We talk about the importance of strong governance, the benefits of a total portfolio approach, and why the endowment model still resonates in long-term capital allocation. Now at the helm of IFM Investors—a global institutional asset manager originally founded by Australian industry super funds—David shares insights into investing on behalf of working people, the tailwinds driving infrastructure investment globally, and why private markets are an increasingly powerful lever for value creation. IFM was conceived by a collective of Australian industry super funds with a bold ambition: to give working people access to the kinds of global, complex investments traditionally reserved for the ultra-wealthy. Today, IFM manages over $250 billion across infrastructure, private equity, credit, equities, and real estate—always with a clear mission to deliver strong, long-term outcomes for its members. If you're seeking clarity on private markets, this is a conversation not to be missed.

In this episode of Inside the Rope, David Clark is joined by Laurence Marshbaum OAM, founder of 10x10 Philanthropy and Community Capital, to explore how wealthy families can embed philanthropy into their legacy. Together, they discuss why more families are establishing Private Ancillary Funds (PAFs) and how strategic giving can sit alongside wealth creation and preservation. Laurence shares his journey from institutional fund management to purpose-driven investing, shedding light on how families can move beyond ad-hoc charitable donations to structured, impactful philanthropy that endures for generations. They discuss how fund managers and sophisticated investors are also stepping in to provide early-stage capital to high-impact, for-purpose organisations—bringing the same rigour they apply to financial markets to the social sector. Whether you're a family considering philanthropy for the first time, or looking to start the conversation, this episode will give you practical insights into how to create lasting social and financial value.

David Clark welcomes back David Witkin, Managing Partner of Beryl Capital, discussing event-driven investing and market opportunities. With a track record of delivering outstanding returns, Beryl Capital has been at the forefront of merger arbitrage and special situations, benefiting from corporate activity across global markets. As investors navigate a rapidly changing landscape—shaped by geopolitical shifts, artificial intelligence, and shifting economic policies—Witkin shares his insights on capital deployment, risk management, and where he sees opportunities in today’s market. He delves into the impact of the Trump administration’s policies on event-driven investing, the AI-driven demand for data centers and infrastructure, and how regulatory shifts could unlock new investment themes. Listen in to hear how institutional investors think about market cycles, risk-adjusted returns, and how high-quality research and execution can drive investment success.

In this episode of Inside the Rope, David Clark sits down with Catherine Allfrey of Wavestone Capital and Caroline Gurney, CEO of Future Generation, to explore why increasing female representation in funds management is not just about fairness—it’s about better outcomes for investors and the broader economy. We dive into the launch of Future Generation Women, a new fund exclusively managed by female portfolio managers, designed to drive both strong financial returns and positive social impact. Why are women statistically better long-term investors? How is gender inequality costing the Australian economy $128 billion annually? And what can both men and women do to accelerate progress in wealth management? This episode is packed with insights on the next generation of wealth transfer, the importance of financial education for women, and how investors can be part of the solution. Whether you're an investor, adviser, or simply passionate about equality, this conversation will challenge perspectives and inspire action.

Frewen Lam, Managing Partner at ROC Capital and expert in private markets, shares his remarkable journey from an immigrant background in Australia to co-founding a firm managing $8.5 billion. He dives into why private investments typically outperform public ones and discusses the untapped potential in agriculture and real assets. Frewen also sheds light on the vibrant economic prospects in Asia, specifically China and India, while exploring how savvy investors can capitalize on opportunities in private credit and secondary markets.

Mike Dorrell, founder and CEO of Stonepeak, shares his journey from Australia to leading a $100 billion investment firm. He discusses the evolution of infrastructure investing and the opportunities in digital infrastructure and energy transition. Dorrell emphasizes the necessity of balancing risk management with innovative strategies. The conversation touches on his disciplined fitness routine, personal motivations, and the impact of political shifts on markets. A treasure trove of insights for investors and aspiring entrepreneurs!

Unlock the complexities of family leadership and estate planning in this enlightening episode of Inside the Rope. Join David as he speaks with Evana Lithgow from Working Minds, a renowned psychologist specialising in the transition and succession of wealth for high-profile families in Australia and New Zealand. Discover how successful families navigate challenges beyond financial capital, fostering meaningful relationships and connections as their true legacy. From overcoming wealth-related conflicts to starting crucial conversations early, Evana shares powerful insights from her 25+ years of experience. Learn how to shift the focus from mere legal documents to a holistic approach that ensures a resilient and harmonious future for generations. Whether you're managing significant wealth or just beginning the estate planning journey, this episode provides actionable tips to align your family’s purpose with long-term success.

In this episode of Inside the Rope with David Clark, we sit down with Peter Edwards, Executive Chairman of the Victor Smorgon Group, one of Australia's most enduring multi-generational family offices. Peter takes us behind the scenes of a pivotal decision: opening the doors of this storied family office to external investors. Discover the rationale behind this transformative move, how it shapes their investment strategy, and what it means for both the family and outside participants. From their thematic investment approach in areas like gold and US property to their forward-thinking embrace of impact investing and philanthropy, Peter shares invaluable insights into navigating complexity and maintaining harmony across generations. Join us for a captivating conversation that delves into family legacy, bold strategies, and the ever-evolving landscape of wealth management. Whether you're curious about the inner workings of a family office or looking for investment inspiration, this episode is one you won't want to miss.

David Clark sits down with Brad Powell, Managing Director of Emerson Collective, the influential family office and investment vehicle of Laurene Powell Jobs. With a portfolio exceeding $11.5 billion, Emerson Collective leverages innovative strategies to address global challenges. Brad provides an insider’s perspective on the Collective’s unique approach to balancing financial returns with social impact across sectors like education, healthcare, and climate transition. Discover how they’re reshaping philanthropy, scaling investments in renewable energy, bridging the digital divide through broadband expansion, and exploring alternative investments like sports franchises. Learn the lessons smaller family offices and high-net-worth individuals can take from Emerson’s model, how they identify transformative organizations, and their forward-thinking vision for energy infrastructure and connectivity in a rapidly evolving world.

Be inspired by a new wave in investment leadership. In this compelling episode, host David Clark sits down with Armina "Arms" Rosenberg, co-founder of Minotaur Capital and one of the most innovative minds in funds management today. From her humble beginnings in Sydney's West to managing global equity portfolios for Mike Cannon-Brookes, Arms’ journey is nothing short of inspiring. Discover how Armina leverages cutting-edge AI technology to revolutionise investment research, creating a competitive edge in identifying market opportunities. Learn about her unique philosophy of investing during strategic corporate shifts, her reflections on ESG investing, and the bold vision she has for Minotaur Capital's future. This episode offers a rare glimpse into the intersection of technology, innovation, and investing. 📌 Highlights: * From Wentworthville to Wall Street: Armina’s extraordinary career path. * The founding of Minotaur Capital and its groundbreaking AI tool, Taurient. * Insights into sustainable investing and redefining fund management.