Capital Allocators – Inside the Institutional Investment Industry

Todd Simkin, Associate Director at Susquehanna International Group and CEO of Susquehanna Re, shares insights from his 27-year journey in trading. He discusses the evolution of trading from poker roots to modern strategies, embracing both the art and science of decision-making. Topics include risk management, navigating growth within large firms, and the fascinating intersection of sports betting and trading strategies. He also reflects on the importance of talent recruitment and meaningful life lessons learned along the way.

Jeff Assaf, Founder and CIO of ICG Advisors, manages $7B for a select group of 80 client families, including athletes and entertainers. He discusses his journey from major finance firms to founding ICG, emphasizing the importance of tailored investment strategies and strong client relationships. Jeff dives into the evolving role of fixed income investments and the challenges of private equity access for high-net-worth individuals. He also highlights the necessity of transparent communication between managers and clients to ensure trust and effective partnership.

Rob Small and Anil Seetharam, Managing Directors and founding members of Stockbridge at Berkshire Partners, share their journey in concentrated public equity management. They discuss the collaborative strategies between public and private equity teams, highlighting key decision-making processes and the unique challenges of portfolio management. The duo also reflects on their learnings over 17 years, emphasizing the importance of mentorship, efficient practices, and personal experiences that shape their investment philosophies.

Jennifer Prosek, founder and CEO of Prosek Partners, shares valuable insights from her extensive experience in marketing for asset management firms. She discusses the critical role of branding and storytelling in capital flows, emphasizing the need for unique narratives. Prosek also touches on the evolving landscape of communication in investment, the significance of cultural understanding and relationship-building, and the importance of networking at intimate events to drive success. Her practical tips and personal stories make for an engaging conversation!

In this engaging discussion, Jen Prosek, Founder and CEO of Prosek Partners, shares her insights on branding within the asset management industry. She delves into the challenges of professional marketing, especially during tough performance periods. Jen highlights the distinct strategies for hedge funds versus private equity. Additionally, she reflects on raising entrepreneurial kids and the dynamics of working with millennials and Gen Z, emphasizing the importance of a nurturing environment and human-centric approaches in the workplace.

Join John Connaughton, Co-Managing Partner & Global Head of Bain Capital Private Equity, as he shares insights into Bain Capital's impressive evolution from a small consulting firm to a leading investment powerhouse. He discusses the firm’s unique culture of trust and collaboration, and how it nurtures talent internally. Connaughton also delves into the strategic transition in private equity practices that emphasize operational transformation, while reflecting on lessons learned from the Global Financial Crisis and the importance of succession planning.

Charles Duhigg, acclaimed writer for The New Yorker and author of "The Power of Habit," dives into the secrets of effective communication. He discusses the three types of conversations and the importance of empathy and deep listening. With insights from his book "Supercommunicators," Duhigg shares methods to improve conversational skills, handle sensitive discussions, and foster genuine connections. He highlights lessons from high-stakes settings, illustrating how emotional intelligence can transform interactions and support professional growth.

Ben Hunt, creator of Epsilon Theory and co-founder of Second Foundation Partners, dives into the power of narratives in financial markets. He shares insights from his journey as a political science professor to a narrative-focused investor. Hunt discusses how stories influence market movements, the evolution of data collection methods, and the importance of understanding competing narratives. He emphasizes that successful investing hinges on recognizing these narratives while balancing data analysis with storytelling.

Exploring the urgent need for allocators to reduce hedge fund fees, the discussion reveals the impact of both historical and contemporary strategies. It highlights how decisive actions can lead to significant improvements in net returns. The challenges smaller allocators face in fee negotiations are addressed, emphasizing the necessity for proactive measures instead of passive requests. This insightful dialogue underscores the critical role that fee structures play in optimizing investment performance.

Yann Robard, founder of Dawson Partners and expert in private markets, shares his insights on innovative liquidity solutions. He discusses his entrepreneurial journey and the evolution of the firm inspired by a 1,000 km Arctic bike ride. The conversation delves into the dynamics between general and limited partners, the future of the secondaries market, and the growing importance of technology in asset management. Yann also highlights how nature fuels creativity and the significance of culture in fostering success within private equity.