The Distribution by Juniper Square

Chris Merrill, Co-Founder and CEO of Harrison Street, shares his insights from a dynamic career in real estate. He discusses his early experiences as a pioneering investor in Central Europe and how they shaped his unique approach. Chris reveals the challenges he faced in promoting unconventional asset classes like student housing and healthcare. He emphasizes the power of building strong partnerships with operators and the strategic shift towards infrastructure investments, highlighting the importance of innovation and a long-term mindset in achieving success.

Len O'Donnell, CEO and Chairman of Affinius Capital, shares his journey from the unexpected world of industrial chemical sales to leading a $60 billion real estate investment firm. He emphasizes the importance of historical insights in shaping leadership and business strategies. The discussion highlights the evolution of USAA Real Estate, co-investment growth, and the significance of data centers as vital to the economy. Len also reflects on the power of patience during mergers and the future of strategic partnerships in reshaping digital infrastructure.

Brendan Wallace, Co-founder and CEO of Fifth Wall, shares insights on how his diverse background in real estate finance and tech entrepreneurship shapes his firm's approach to transforming the built environment. He discusses Fifth Wall's strategic LP model that fosters technology adoption in real estate and addresses the slow tech uptake in the industry. The conversation reveals why now is an ideal time to launch new investment platforms and critiques the overhyped notion of proprietary data in the AI age, showcasing the future potential of PropTech.

Patrick McBride, co-founder and co-CEO of Coastal Ridge Real Estate, discusses his journey from starting a small venture with college friends to managing $5 billion in assets. He highlights the strategic evolution of Coastal Ridge, including partnerships with family offices and transitions to discretionary fund management. McBride explains how student housing offers growth opportunities, fueled by rising rents and specific amenities sought by students. He also emphasizes the importance of vertical integration and the Midwestern values that shape their company's culture.

In this conversation, Chris Brimsek, Managing Partner of CAB Advisory, shares his insights on the strategic and operational hurdles investment managers face today. He discusses the emerging trend of fundless sponsors and their impact on deal flow and team structures. Chris emphasizes the crucial choice between remaining boutique or scaling for founders, focusing on team dynamics. He also draws fascinating parallels between sports franchises and investment firms, highlighting how talent management strategies can inform private equity. This pragmatic dialogue offers valuable perspectives for navigating an evolving industry.

Franz Colloredo-Mansfeld, Chairman and CEO of Cabot Properties and incoming global chair of the Urban Land Institute, shares his unique journey from history and investment banking to leading a logistics powerhouse managing $12 billion in assets. He discusses key moments in Cabot's evolution, including their shift from public to private equity. Franz highlights the growing appeal of logistics real estate and its potential for value creation, while shedding light on global market dynamics and the strategic decisions that spurred the company's success.

Chris Tinsley and Rory Mabin lead Nasdaq's Fund Secondaries business, leveraging their backgrounds in institutional investing and fintech. They discuss the evolution of the fund secondaries market, emphasizing how technology enhances transparency and efficiency. Key topics include the complexity of LP transactions, the innovation behind Nasdaq's Qualified Matching Service, and the significance of GP-sponsored liquidity. The duo explains how scalable tech is transforming secondary markets, attracting diverse buyers and reshaping the landscape of private market liquidity.

In this engaging conversation, Jason Ment, President and Co-COO of StepStone Group, shares his insightful journey from General Counsel to a leadership role in private markets. He discusses how StepStone successfully scaled from 35 to over 1,100 employees while fostering a culture of trust. Key topics include the significance of operational alpha, the impact of AI and custom software on client outcomes, and the importance of mentorship for emerging leaders. Jason highlights the need for tailored client solutions and effective communication as vital components of a thriving investment business.

Ted Gooden, founder of Växa Partners and a veteran advisor in private markets, shares his insights on the shifting landscape of investment management. He discusses the rise of mega-managers and the role of consolidation in today’s market. Ted outlines how mid-sized firms can explore partnerships and strategic adaptations for growth. He also touches on the importance of internal culture and investor relations in becoming ‘investable’. Lastly, he provides tactical advice for GPs considering mergers or stake sales, navigating critical junctures in their firms.

In this engaging conversation, Jay Maher, the Global Chief Operating Officer at H.I.G. Capital, shares insights from his 30-year career in private equity. He discusses the complexities of building a centralized data warehouse and balancing entrepreneurial culture with institutional standards. Jay explains how the implementation of advanced systems like Workday HCM enhances operational efficiency. He also emphasizes the importance of aligning vendor partnerships with strategic goals and the COO’s pivotal role in fostering talent and investor service.