Capital Allocators – Inside the Institutional Investment Industry

Isaac Corre, founder and CEO of Governors Lane, brings a unique perspective to event-driven investing. He discusses the evolution of strategies like merger arbitrage and shares insights on current market challenges. Isaac reflects on his unconventional journey from law to finance, highlighting the impact of regulatory changes and climate risks. He also addresses the significance of corporate culture in investment decisions and emphasizes the opportunities in bank debt markets. Listen for a blend of thoughtful analysis and engaging personal reflections.

Explore the intriguing rise of NAV loans in private equity, hailed as gold mines by credit managers. Discover how private equity firms are cautiously experimenting with these financial instruments. A case study on Vista Equity Partners reveals the potential risks lurking beneath the surface. The discussion also uncovers alarming implications, suggesting that NAV loans may signal a downturn in the industry, raising red flags about misaligned interests between General Partners and Limited Partners.

In this engaging conversation, Finny Kuruvilla, Co-Chief Investment Officer at Eventide Asset Management, shares his journey from medicine to finance. He discusses the firm's pioneering values-based investment philosophy, rooted in ethics long before ESG became mainstream. Kuruvilla reveals how Eventide integrates personal values with rigorous investment strategies and the importance of mentorship in navigating complex markets. He also emphasizes the ethical obligations of investors, illustrating how integrity fosters long-term success in business.

Sonya Sawtell-Rickson, Chief Investment Officer of HESTA, leads an AUD 75 billion superannuation fund focused on health and community service workers. She discusses the Total Portfolio Approach, a strategy that emphasizes granular risk management and diverse asset classes. Their initiatives intertwine real return goals with climate solutions and diversity objectives. Sonya also shares insights on building a member-centric investment team, addressing complex risks, and navigating economic cycles and environmental challenges through responsible investing.

Dmitry Balyasny, the founder and CIO of Balyasny Asset Management, offers a wealth of insights into the multi-strategy hedge fund landscape. He shares his journey from a novice trader to a seasoned investment leader, emphasizing the importance of risk management and talent acquisition. The discussion navigates effective strategies for portfolio construction and the challenges of recruiting top talent in a competitive market. Additionally, Dmitry explores the evolving dynamics of investor relationships and the future of multi-strategy investing.

Alan Forman, former Director of Real Estate at Yale Investments Office, shares his profound insights from over three decades in institutional investment. He emphasizes the critical role of alignment and personal connections in real estate strategies. Alan discusses mentoring emerging managers through his venture, Blue Orchard Capital, and elaborates on the collaborative dynamics of investment decision-making. He also reflects on Yale's shift towards innovative investment structures and the importance of building trust within strategic partnerships for long-term success.

Muthu Muthiah, the Chief Investment Officer of Children’s Healthcare of Atlanta, oversees a $6 billion capital pool and brings over twenty years of experience in finance. He shares insights on his unique journey from a nomadic childhood to investment leadership. Muthu discusses portfolio strategies, emphasizing efficiency, innovation, and the complexities of asset allocation. He also explores the impact of COVID on his investment strategy and navigates the challenges posed by geopolitical tensions, particularly in healthcare and technology sectors.

In this engaging conversation, Adam Karr, President and Portfolio Manager at Orbis, shares insights from his unique journey in global equity management. He discusses Orbis' innovative fee structures, including performance rebates that align interests with clients. Adam reveals their long-term investment philosophy and the use of analyst shadow portfolios to enhance decision-making. He also touches on the importance of cultivating talent and personal growth, all while emphasizing the joys of life outside the financial realm.

Marlene Puffer, the CIO of Alberta Investment Management Corporation (AIMCo), manages $160 billion in assets across various funds. She shares her journey from academia to the finance world, highlighting key investment strategies. The conversation dives into AIMCo’s asset-liability matching strategy, the unique governance of Canadian pensions, and the intricacies of compensation models that align with client interests. Marlene also discusses strategic partnerships in investment management and the importance of risk management in evolving markets.

Explore the intriguing nuances of David Swensen's Yale investment model, debunking popular misconceptions and highlighting its essential principles. Gain insights from seasoned practitioners reflecting on legacy and mentorship in portfolio management. Discover how revisiting Swensen's philosophy can enhance modern investing practices and encourage lifelong learning in the investment landscape.