Capital Allocators – Inside the Institutional Investment Industry

Eli Casdin, Founder and CIO of Casdin Capital, and Joel Wittenberg, former CIO of the W.K. Kellogg Foundation, dive into the world of life sciences investments. They discuss the transformative power of biotech and the strategic relationship between diagnostics and therapeutics. Eli shares insights on evaluating company management and private market strategies, while also exploring the game-changing role of AI in drug development. Their conversation highlights the promising growth in this sector and the evolving dynamics of the investment landscape.

David Rubenstein, Co-Founder and Co-Chairman of The Carlyle Group, shares his fascinating journey from law to private equity, emphasizing the importance of firm culture and fundraising strategies. He reveals insights on recruiting talent and balancing internal and external expertise amidst evolving market demands. The conversation also explores his philanthropic efforts, personal passions in writing, and the establishment of his family office, Declaration Partners. Rubenstein highlights the joy of interviewing and empowering the next generation of leaders.

Jeremy Grantham, a legendary investor leading GMO with $60 billion in assets, shares his insights alongside Alex Shahidi, Co-CIO of Evoke Wealth. They dive into the current market bubble, discussing its uniqueness and the implications of climate change on investing. The duo explores value investing's resurgence, the promise of emerging markets, and the critical need for sustainable financial strategies. Additionally, they highlight the advantages of venture capital in green technology and the influence of inflation on investment decisions.

Discover the fascinating dynamics of money managers and their institutional clients in this new series. Hear firsthand insights and strategies that have captivated investors. Uncover exciting investment opportunities from both prominent and lesser-known managers. This series delves into the relationships that shape the investment landscape, offering a unique perspective on value creation. Tune in for engaging conversations that reveal what drives success in capital allocation.

Robert F. Smith, the Founder, Chairman, and CEO of Vista Equity Partners, dives deep into the world of enterprise software investment. He shares insights on the characteristics of enterprise software and strategies for target screening. Their discussion spans operational versus financial leverage and the importance of management teams. Smith reflects on personal mistakes, the role of philanthropy in his life, and unique experiences that shape his leadership, including the value of community and transformative support for institutions like Morehouse University.

Join John Connaughton, Co-Managing Partner at Bain Capital, as he shares insights from his extensive experience in private equity. He discusses the firm's evolution and strategic growth amidst a competitive landscape. John highlights the importance of operational excellence and long-term resilience during economic cycles. Personal anecdotes reveal his punk rock past and transformative fitness journeys, while he emphasizes the role of accountability and diversity in both investing and life. Prepare for a thoughtful exploration of investing and personal growth!

John Toomey, a key player at HarbourVest Partners with over thirty years of experience in private equity, discusses the evolution of investment strategies in the field. He shares insights about the transformative impact of data analytics and operational due diligence. The conversation touches on the complexities of co-investments, emphasizing alignment with fund managers. Toomey also highlights the challenges of ESG practices and the secondary market's strategic advantages, revealing how these factors shape the future of private equity investing.

Katy Milkman, a professor at The Wharton School and author of How to Change, dives into the science of behavior change. She outlines eight obstacles to transformation, exploring procrastination, confidence, and conformity. Katy shares innovative strategies like 'temptation bundling' and commitment devices to combat procrastination. She discusses the influence of social dynamics on performance and the significance of fresh starts for lasting change. With personal insights, Katy illustrates how her research applies to investing and everyday life challenges.

In this enlightening discussion, Alex Rodriguez, a former MLB superstar and current CEO of A-Rod Corp, shares his transition from baseball to business. He reflects on key mentorship moments with icons like Warren Buffett and Magic Johnson. Rodriguez elaborates on his investment strategies spanning real estate, venture capital, and ownership of the Minnesota Timberwolves. He also discusses the importance of leadership, personal accountability, and resilience, while emphasizing how past mistakes have shaped his path to success.

Charley Ellis, founder of Greenwich Associates and author of sixteen investment books, reflects on his long-time friend, David Swensen, in a heartfelt tribute. They discuss the transformative impact of Swensen on Yale University’s investment strategy, the importance of integrity and strong relationships in investing, and the dynamics of effective decision-making within investment committees. Ellis also touches upon his latest book and the evolution of investment practices, including the growing shift toward private equity strategies.