Capital Allocators – Inside the Institutional Investment Industry

Tim Sullivan, recently retired after 39 years managing Yale's private market portfolios, shares his legendary journey alongside David Swensen. He recounts navigating significant events like the 1987 crash and the dot-com bust while pioneering strategies in private equity and venture capital. Tim discusses the evolution of investment dynamics, emphasizing risk management and partnerships forged during downturns. Reflecting on his legacy, he offers insights into the challenges of future investing and the importance of collaboration in a changing landscape.

Reflecting on a historic bet with Warren Buffett, the discussion contrasts hedge funds and the S&P 500, revealing unexpected outcomes. The focus shifts to a new challenge: comparing private equity against the S&P 500. Key performance factors like leverage and size are analyzed, alongside a clever betting proposal centered on North American buyouts. Engaging the audience, the hosts invite predictions about the future dynamics of investing.

Michael Ovitz, co-founder of Creative Artists Agency and former president of Disney, shares his transformative journey in Hollywood and investing. He discusses the empowering culture at CAA and the importance of relationships while transitioning to Treville Capital Group. Michael reflects on his early influences and lessons learned from failures, revealing insights about building momentum in businesses. He emphasizes mentorship, creativity, and the need for accountability, all while showcasing his unique perspectives shaped by his experiences.

Ali Hamed, Founder of CoVenture, shares insights on transforming his firm from $100 million to $2 billion, focusing on tech-enabled asset-backed credit. He discusses their innovative venture arm, Crossbeam, detailing unique sourcing and due diligence strategies. The conversation covers the burgeoning international fintech landscape, including the buy now, pay later model, and the dynamics of crypto investments in DeFi. Hamed also reflects on mentorship influences and the importance of balancing work and life in today’s fast-paced market.

Ali Hamed, co-founder of CoVenture and a young trailblazer in the venture capital world, explores unique investment opportunities formed at the intersection of technology and finance. He shares his entrepreneurial journey, including insights into untraditional assets like produce receivables and loans against employee stock options. Ali discusses the challenges in the tech investment landscape, the evolving nature of venture capital, and the dual dynamics of cryptocurrency. His fresh perspective is both captivating and thought-provoking for investors and entrepreneurs alike.

Join seasoned allocators Brett Barth, Meredith Jenkins, Jon Harris, and Casey Whalen as they reflect on the ever-evolving investment landscape. They tackle the current state of private markets and portfolio liquidity, emphasizing the importance of secondary sales. The conversation dives deep into niche investment strategies, the impact of AI on decision-making, and emerging sectors like defense technology. Personal insights mix with market trends, all while keeping the mood light with trivia. It's a candid look at investing through the eyes of industry veterans.

Hugh MacArthur, the Chairman of Bain & Company’s Global Private Equity Practice and host of the 'Dry Powder' podcast, shares insights on the evolving landscape of private equity. He discusses Bain's strategies in due diligence and sourcing, along with findings from the latest Global Private Equity Report, highlighting market trends like liquidity issues and AI integration. Hugh emphasizes the crucial role of collaboration between general and limited partners and predicts the winners and losers in the industry’s next era.

Bob Oros, the outgoing Chairman and CEO of Hightower Advisors, shares his extensive experience in wealth management spanning three decades. He discusses the evolution of Registered Investment Advisors, highlighting the shift towards holistic planning and alternative investments. Bob reveals insights into Hightower's acquisition strategy, emphasizing advisor retention and cultural integration. He reflects on leadership lessons, including adaptability and transparency, as he prepares to step down in a pivotal moment for the firm.

Josh Koplewicz, Managing Partner of Thayer Street Partners, shares his journey from Goldman Sachs to founding a boutique private equity firm in 2012. He dives into strategic capital allocation, the challenges of scaling a smaller firm, and innovative investment structures that balance risk and reward. Josh discusses the importance of building relationships in finance and navigating market liquidity issues. With personal anecdotes about hiking and DJing, he reflects on his aspirations for future impact within his firm and its portfolio.

David Breach, President and COO of Vista Equity Partners, shares his journey from modest beginnings in Canada to leading a transformation in private wealth investing. He discusses Vista's strategic shift into the private wealth sector, highlighting lessons learned from industry pioneers. Breach emphasizes the explosive growth of enterprise software and the crucial role of alternatives in capital allocation. He also tackles the challenges of balancing institutional and private wealth needs while building brand recognition and maintaining operational discipline.