Capital Allocators – Inside the Institutional Investment Industry

Listen to Yellowstone Club on Private Equity Deals The fourth episode of Season 2 of Private Equity Deals drops today on the Private Equity Deals podcast feed. This time around Sam Byrne from CrossHarbor Capital Partners joins me to discuss the Yellowstone Club. The Yellowstone Club is a private ski mountain located in Big Sky, Montana, whose exclusive members reportedly include Bill Gates, Eric S...

Tom Joy is the Chief Investment Officer at the Church Commissioners of England, where he is responsible for the stewardship of the Church of England's £10.1 billion endowment fund. Our conversation covers Tom's background, the history and goals of Church Commissioners to achieve sound returns with modest volatility and invest responsibly. We discuss Tom's four pillars to achieve these objectives a...

My guest on today's sponsored insight is Andy Lee, the Founder and CIO of Parallaxes Capital. Andy spun out of Lone Star in 2017 to focus on the niche opportunity to invest in Tax Receivable Agreements or TRAs. Our conversation covers Andy's background and path to the hidden gem of TRAs. We cover the basics of a TRA, rationale for their use, drivers of return, and risks. We then discuss Parallaxes...

Adam Rodman is the Founder and Chief Investment Officer of Segra Capital Management, the largest fund dedicated to investing in nuclear power across public and private markets. Adam founded Segra in 2013 to focus on a concentrated portfolio of contrarian, underfollowed investment ideas. In turn, this led to a dedicated focus on nuclear power. Both Tom Steyer and Bill Orum discussed nuclear power a...

Since I wrote  Short-Term Gain, Long-Term Pain three weeks ago, we certainly hit a big one. I had a chance to take a step back and draw from my experience working at Yale for some parallels. Suffice it to say David Swensen didn't play the game like SVB did, but I think I know how he would've been spending his time to prepare for what comes next. Read Short-Term Gain, Long-Term Pain, Part 2   Learn...

This sponsored insight features David Abrams, Founding Partner of Velocity Capital Management. Velocity is a newly formed firm that focuses on investing with founders to build best-in-class sports, media, and entertainment companies. Our conversation covers David's background, long experience in distressed investing on Wall Street and at Apollo, and personal investments in sports-related businesse...

Colin Campbell is a Partner at Bain Capital and co-head of the Partnership Strategies team that manages assets primarily for Bain Capital's partners in strategies that diversify away from the equity-orientation of the firm's core. In its search for attractive, uncorrelated assets, the Partnership Strategies team became an early mover in environmental markets. Both Tom Steyer and Bill Orum cited ca...

Listen to TaylorMade on Private Equity Deals It's almost golf season, and what better way to get mentally prepared for the game than listening to the turnaround story of TaylorMade.  Episode 3 of Season 2 of Private Equity Deals released this morning, in which David Shapiro from KPS discusses the firm's investment from a colorful history, broken process, and laundry list of repairs. Subscribe to P...

Bill Orum is a Partner at Capricorn Investment Group, one of the largest and longest standing mission-aligned investment organizations. Capricorn oversees $9 billion across three distinct but related investment strategies - an OCIO serving families and foundations, a seeding business that backs impact asset managers, and the Technology Impact Fund, a venture capital fund focused on clean technolog...

Tom Steyer is the founder and former head of Farallon Capital Management, climate activist, candidate for President of the United States in 2020, and most recently, co-founder of Galvanize Climate Solutions, a mission driven investment platform addressing urgent climate solutions. Our conversation covers Tom's early career and founding of Farallon in 1986. We discuss his original strategy, history...

Listen to Blue Triton Brands on Private Equity Deals.  On the second episode of season 2 of Private Equity Deals, Scott Spielvogel from One Rock Capital discusses their carveout of Blue Triton Brands, a business that formerly comprised Nestle Water North America. Its brands collectively have the top market share in North American bottled water and include Poland Spring, Deer Park, Arrowhead, Pure...

Beezer Clarkson, Chris Douvos, and Joelle Kayden are three of the most respected investors in venture capital funds, manning their forts at Sapphire Ventures, Ahoy Capital, and Accolade Partners, respectively. Each is a past guest on the show and we're replayed those conversations in the feed. In a far more challenging environment after last year's public market growth selloff and tightening of pu...

My guest on the 7th episode of Venture is Eating the Investment World is Joelle Kayden, the Founder and Managing Partner of Accolade Partners, a $3.6 billion venture fund of funds that invests across early stage, growth, blockchain, and empowerment strategies and one of the most respected firms in the business. Our conversation covers Joelle's nearly two decades in technology investment banking, t...

Beezer Clarkson is Managing Director at Sapphire Ventures where she is responsible for the management of Sapphire's fund investments in early stage venture funds globally.  Her career through direct and fund investing has left her with unusually deep knowledge and insights in the space. Our conversation starts with Beezer's meandering career and turns to her work at Sapphire, including its structu...

Chris Douvos is Managing Director at Venture Investment Associates, a fund that invests $1B in commitments to venture capital funds. Chris is responsible for the management of relationships with the funds' managers and the identification and development of new manager relationships. He is the author of an entertaining blog about venture capital entitled  SuperLP – Adventures in Investing, availabl...

Dan Ivascyn is the Group-CIO of PIMCO, the legendary bond shop with nearly $2 trillion in assets under management. Dan arrived at PIMCO 25 years ago and assumed the Group-CIO seat in 2014, where he leads portfolio management for the firm's income strategies, credit hedge fund, and mortgage opportunistic strategies. Today's guest host is Ana Marshall the CIO of the $13 billion Hewlett Foundation an...

Season 2 of PE Deals starts this week with Fenway Sports Group . On Season 1, we shared stories of eight recent deals conducted by some of the premier private equity firms. The show already has received accolades as the #1 must-listen podcast for private equity dealmakers. In season 2, we're shifting from sponsors you know to companies you know. Our first episode releases today. It's a discussion...

José E. Feliciano is the Co-Founder and Managing Partner of Clearlake Capital Group. Clearlake manages $75 billion in assets in a flexible strategy across private equity, credit, and special situations in the technology, industrial, and consumer sectors. Our conversation covers José's background, operational experience, and launch of Clearlake in 2006 to pursue a flexible strategy. We turn to the...

Today's show is a sponsored insight from AgAmerica, the largest independent agricultural loan lender and servicer in the US. I sat down with President and CEO, Brian Philpot. Brian invested for twenty-four years in timberland, agricultural, and real estate before turning to a sole focus on farmers. AgAmerica helps farmers thrive in good times and sleep well in tough times, having originated $2 bil...

Marshall Boyd is the Co-President and CIO at Interstate Equities Corporation, a real estate investment firm that manages $1 billion focusing exclusively on multi-family apartments on the California coast. IEC is one of those little-known gems for those in the know. It's an endowment darling with just a dozen or so of the most elite LPs in the business exploiting an attractive, little corner of the...

John-Austin Saviano is the founder of High Country Advisors, where he serves as a strategic advisor to both investment firms and the institutional pools of capital that back them. Before starting High Country in 2017, John-Austin served as an allocator for nearly two decades at the Moore Foundation, Cambridge Associates, and as the first CIO of UC-Berkeley's Endowment. Our conversation covers John...

Shundrawn Thomas is the Founder and Managing Partner of Copia Group, a new private investment firm that provides capital solutions to lower middle market companies and drives social impact. Shundrawn was a past guest on the show while in his prior seat as President of Northern Trust Asset Management, a leading global investment manager with over $1.3 trillion in assets. That conversation is replay...

Shundrawn Thomas, President of Northern Trust Asset Management, where he oversees the $900 billion organization. Shundrawn joined Northern Trust Corporation in 2004 and rose to the leadership team in 2008. Over the last 8 years, he has hired and promoted much of Northern Trust Asset Management's executive team, whose fifteen members include nine women and minorities. Shundrawn is deeply involved i...

Anthony Scaramucci is the Founder and Managing Partner of Skybridge Capital and the SALT conference, and for a brief period in 2017, the White House Communications Director. Anthony and I were scheduled to record a conversation the Friday morning he was named to the White House. That clearly didn't happen, but we circled back a few months after his return to Skybridge, and that conversation is rep...

The name Anthony Scaramucci currently has 55% name recognition in the U.S. according to Politico. Anthony has been an entrepreneur in the hedge fund industry for 23 years, growing to prominence within the industry through his oversight of fund of funds Skybridge Capital, creation of the popular SALT conference, regular television appearances, and rejuvenation of the iconic television show Wall Str...