The Distribution by Juniper Square

Lara Banks, Managing Director and Head of Private Equity at Makena Capital, brings energy, quant trading, and project finance experience to institutional investing. She discusses Makena’s evolution from an endowment model, focus on emerging managers and independent sponsors, managing liquidity in evergreen portfolios, and hot themes like AI, energy infrastructure, and biotech.

Mark Sjoberg, CIO at Capital Creek Partners focused on asset allocation for large families. Mark Neely, Director of Alternatives at GenTrust who sources and diligences private investments. Brian Cho, head of distribution at Peachtree Group working across equity, hotels, and credit. They discuss how private wealth allocators build portfolios, preferences for structures and liquidity, the rise of operational due diligence, and where opportunities lie in debt and special situations.

Phil Huber, Managing Director at Cliffwater, brings his extensive expertise in alternative investments to the conversation. He reveals why private markets are shifting from niche to essential in wealth portfolios. Discussion includes the mechanics of interval funds and their appeal due to enhanced liquidity and lower barriers for investors. Phil also emphasizes the importance of multi-manager strategies for diversification and fee efficiency, alongside practical insights on risk management in the evolving alternatives landscape.

Jahan Moslehi, Co-founder and CEO of Bridge33 Capital, shares his remarkable journey from an Iranian immigrant to a leading voice in retail real estate. He discusses how mentorship and hands-on operation helped transform his struggling first deal into a thriving national portfolio. Jahan emphasizes the importance of tenant relationships, rebuts misconceptions about retail's decline, and highlights the resilience of select retail spaces. His insights on decision-making amidst uncertainty and the operational intensity required to succeed are invaluable for aspiring entrepreneurs.

Chris Schelling, Managing Director at Aksia, dives into the complex world of private markets and alternatives. He shares his unique journey from studying psychology to becoming a key allocator. The discussion highlights the importance of education in private wealth, addressing risks like adverse selection and return dispersion, and the potential of interval funds for accessing private markets. Chris also offers insights on the future of various asset classes, urging advisors to understand complexities and align with the realities of the wealth landscape.

Willy Walker, Chairman and CEO of Walker & Dunlop, shares his fascinating journey from nonprofit work in Latin America to leading a major commercial real estate firm. He discusses scaling a family business into a publicly traded entity and the crucial lessons learned along the way. Walker highlights trends in the multifamily market, including a surge in supply and the mismeasurement of rents. He also reveals the origins of the Walker Webcast, a vital tool for building industry trust and transparency.

In a captivating discussion, Jeff Beckham, Chief Investment Officer at Buckingham, shares insights from his diverse career in institutional real estate. He emphasizes the firm’s focus on the living sector, exploring multifamily and student housing markets. Jeff explains how vertical integration enhances operational alpha and why non-coastal markets are increasingly attractive for better risk-adjusted returns. He balances entrepreneurial spirit with institutional discipline, revealing how this strategy positions Buckingham for future growth amid changing market dynamics.

Casey Cummings, CEO of Ram Realty Advisors and a seasoned expert in the Southeast real estate market, shares insights from his long career. He discusses the shift from family-backed investments to attracting institutional capital, emphasizing operational discipline and local market knowledge. Casey highlights the advantages of focusing on multifamily and grocery-anchored retail assets, and how on-the-ground decision-making enhances competitive edges. He also evaluates macroeconomic uncertainties and their impact on real estate strategies.

Tony Avila, Founder and CEO of Avila Real Estate Capital, shares his extensive experience in residential land development and homebuilding finance. He discusses the evolution of institutional investment in homebuilding and the shift in risk dynamics post-financial crisis. Avila delves into how traditional banks have backed away from land and construction lending, creating opportunities for private capital. He also explains the nuances of underwriting land loans and highlights the importance of housing affordability in today’s market.

Neville Rhone, co-founder and managing partner of Arc Capital Partners, shares his journey from engineering to real estate investment. He reflects on valuable lessons from Morgan Stanley and Canyon Partners, emphasizing the potential of the middle market for stable returns. Neville discusses how today's capital constraints create unique opportunities for structured solutions. He identifies key focus areas like middle-income housing and grocery-anchored retail in the Sunbelt, offering insights on how general partners can navigate this shifting landscape.