Capital Allocators – Inside the Institutional Investment Industry

Mitchell Green, founder and managing partner of Lead Edge Capital, discusses the innovative strategies of his growth equity firm, which invests in tech-enabled businesses. He shares how they leverage a vast network of over 700 LPs to connect portfolio companies with valuable resources. The conversation covers his journey through finance, the significance of strategic networking, and the rigorous diligence process for early-stage investments. Green also highlights the vibrant culture at Lead Edge, emphasizing passion for work and the importance of gratitude.

Private equity fund flows are experiencing significant challenges. The supply-demand imbalance since 2019 is explored, revealing how rapid fundraising and slowed exits are affecting investors. The discussion highlights the critical need for portfolio rebalancing and the search for new capital sources. Predictions for a return to normalcy in 2025 are debated, with a consensus suggesting that the market is not quite ready for that shift.

Join John Reynolds, Jonathan Farber, and J McLane from Lime Rock Capital as they share the breathtaking journey of CrownRock, which transformed a $96.5 million investment into a $12.5 billion sale. They discuss innovations in vertical and horizontal drilling, key threats to the business, and the critical 'forever hold' mindset that fueled incredible capital growth. The conversation also touches on navigating crises like the global financial crash and the 2020 pandemic, along with the strategic choices that led to CrownRock's historic acquisition by Occidental Petroleum.

Mark Sullivan and Roberto Isch are Partners at Wellington Management, with Mark leading the Hedge Fund Group and Roberto focusing on risk and portfolio management. They delve into the evolution of hedge fund strategies at Wellington, highlighting the shift to a structured, market-neutral approach. The duo emphasizes talent acquisition and the importance of collaboration in driving performance. They discuss navigating risks in capital allocation and leveraging market volatility for active management opportunities, while also sharing personal insights on mentorship and defining success.

Donald Miller is the CEO of StoryBrand and a bestselling author focused on helping businesses clarify their messages. In this discussion, he shares his insights on effective storytelling, emphasizing the seven key elements that resonate with customers. Miller introduces storybrand.ai, a tool that crafts taglines in mere minutes, demonstrating the power of concise messaging. He also highlights the importance of positioning customers as heroes in narratives, fostering trust through consistent communication, and the vital role of empathy in building strong brand connections.

Ron Biscardi, CEO and founder of iConnections, joins Katie O'Reilly to discuss optimizing the conference experience. They highlight strategies for effective budgeting and maximizing value at industry events like Global Alts and Davos. The conversation emphasizes the importance of genuine relationship-building over immediate sales, as well as the evolving dynamics of fundraising, particularly in regions like the Middle East. Additionally, they share insights on defining success metrics and forming valuable partnerships for future conferences.

Scott Bessent, CEO and Chief Investment Officer of Key Square Group, is a seasoned global macro investor with a 40-year track record, including a notable tenure at Soros Fund Management. In this conversation, he reflects on his nomination for Secretary of Treasury and its potential impact on the economy. Bessent shares insights on navigating investment landscapes, discusses pivotal life experiences and mentorship, and explores the historic currency trade against the British pound. He emphasizes the importance of adaptability and long-term relationships in both finance and life.

Michael Milken, a legendary financier and philanthropist, transformed the high-yield bond market, fueling private equity's growth. He reflects on his career's impact and the importance of mentorship in investment leadership. Milken shares insights on nurturing curiosity in finance, advocating for democratizing capital access, and illustrates the critical role of human capital in achieving business success. He also opens up about his personal battle with cancer and his commitment to cancer research, emphasizing early intervention and the importance of education in societal progress.

In this engaging discussion, Cliff Asness, the innovative mind behind AQR, dives into his amusing journey through academia and the investment world. He challenges the myth of perfect market efficiency and discusses the nuances of AI in finance, likening it to the strategic depth of Go. Asness also tackles the rise of pod shops, sharing insights on managing investor expectations. The conversation is peppered with humor, as he reflects on personal hobbies like comic book collecting and the intricacies of navigating modern streaming frustrations.

Join Ricky Sandler, CEO and chief investment officer at Eminence Capital, as he shares insights from his 30-year journey in long-short equity investing. He discusses the evolution of investment strategies amidst changing market dynamics and the importance of firm culture. Ricky emphasizes the blend of quantitative analysis with fundamental research and illustrates how adaptive thinking can lead to success. He also reflects on parenting philosophies, personal growth, and the balance between competition and well-being, all while navigating a dynamic financial landscape.