Capital Allocators – Inside the Institutional Investment Industry

Bob Oros is the outgoing Chairman and CEO of Hightower Advisors, a leading RIA platform with over $165 billion in assets under management. Bob has spent three decades in the wealth management industry, including stints at Charles Schwab, LPL, and Fidelity before joining Hightower in 2019. During the last six years, he oversaw fifty acquisitions of RIAs that he integrated under Hightower's Well-th...

Josh Koplewicz is the Managing Partner of Thayer Street Partners, a boutique private equity firm he founded in 2012 that provides flexible growth capital to lower middle market companies in financial and business services. Our conversation traces Josh's journey from his early fascination with business and real estate to building Thayer Street into an institutional platform. We discuss the lessons...

David Breach is the President and Chief Operating Officer of Vista Equity Partners, a leading specialist in enterprise software investing with over $100 billion in assets. David joined Vista a decade ago when it managed $13 billion and has been instrumental in helping manage its rapid growth. Robert Smith, Vista's founder, was a past guest on the show, and that conversation is replayed in the feed...

Robert F. Smith is the Founder, Chairman and CEO, Vista Equity Partners. Vista is a private investment firm that focuses entirely on enterprise software companies and manages $75 billion in assets across private equity, permanent capital, credit and public vehicles. Taken together, Vista's current portfolio companies are about 70 in number and house 70,000 employees, 700,000 customers across 175 c...

Kipp deVeer is the Co-President of Ares Management, a leading global public alternative investment firm that manages $500 billion across credit, private equity, real assets, and infrastructure. Kipp came on the show last year to share the Ares story, and that conversation is replayed in the feed.   Our conversation covers Ares' credit-centric approach to serving the wealth channel. We discuss Ares...

Kipp deVeer is a Director and Partner of Ares Management, the $30 billon market cap public company (ARES) that manages $360 billion in assets, including $250 billion in credit. Kipp joined Ares twenty years ago and serves as the Head of Ares Credit Group, CEO of the public BDC Ares Capital Corporation (ARCC), and a member of the Executive Management Committee. Our conversation covers Kipp's path t...

Jon Madorsky is Managing Partner and Co-Portfolio manager of the secondaries strategy at RCP Advisors, one of the largest managers focused exclusively on North American lower middle market buyouts. Jon joined the firm 21 years ago and has participated in the growth of the secondaries business from its earliest stages. His partner, Alex Abell, joined me on the show last year and that conversation i...

Alex Abell is a Managing Partner at RCP Advisors, which at $14 billion of committed capital, is one of the largest firms focused exclusively on lower-middle market buyouts. Alex has spent twenty-three years in the business, starting on the LP side, building Atlas Diligence – a research and advisory platform focused on advanced analytics, and then merging Atlas with RCP a decade ago. Today, he help...

Kristin Kallergis Rowland is the Global Head of Alternative Investments for J.P. Morgan Wealth Management, where she oversees $180 billion of alternative investments within the $500 billion managed in J.P. Morgan's $3 trillion private bank. The Private Bank's investment approach resembles that of many institutions, with centralized research, manager selection, and portfolio construction that its f...

In offering a rare take on the current market, I come back to one of my investment truths: the hardest day to invest is always today. Allocators can register for our next cohort of Capital Allocators University here , July 7th in New York City. Read Ted's blog  here . Editing and post-production work for this episode was provided by The Podcast Consultant ( https://thepodcastconsultant.com )

Eric Mogelof is the head of Global Client Solutions at KKR, one of the world's leading alternative asset firms with roots in private equity dating back to 1976. KKR currently manages $640 billion in assets, across approximately $250 billion in credit, $200 billion in private equity, and $160 billion in real assets. The firm's objective in private wealth is to deliver the same strategies, performan...

James Clarke is the Global Head of Institutional Capital at Blue Owl, a leading public alternative asset manager with $270 billion in assets under management. James joined Doug Ostrover and Mark Lipschultz shortly after the firm's launch and has been instrumental in its explosive growth over the last eight years. Doug was a past guest on the show, and that conversation is replayed in the feed. Our...

Doug Ostrover is the Co-Founder and CEO of Blue Owl Capital, a public company borne out of a merger combining Owl Rock Capital and Dyal Capital. Doug is also the CEO and Co-CIO of Owl Rock Capital Partners, a direct lender to middle-market companies that he co-founded in 2016 and today manages $30 billion in permanent capital assets. The combined Blue Owl manages approximately $53 billion in asset...

John Mathews is the Head of Private Wealth Management in the Americas for UBS. UBS is the world's largest global wealth manager with $6 trillion in assets, of which $2 trillion are in the Americas. Private Wealth Management is comprised of roughly 230 teams and 661 financial advisors. Our conversation explores how the largest wirehouse empowers its financial advisors to act as entrepreneurs to bri...

Michael Sidgmore is the Co-Founder of Broadhaven Ventures and the creator of the Alt Goes Mainstream podcast, which explores the intersection of private markets, technology, and wealth management. His career spans early roles at Goldman Sachs and iCapital, experience building businesses in fintech and asset management, and investing across the private market ecosystem. Our conversation offers an i...

Two weeks ago, James Aitken suggested sharpening your pencil to find specific individual assets that have been beaten down, while Louis-Vincent Gave declared Latin America an attractive place to look. Combining these themes, I reached out to today's guest, Rodrigo Bitar, Co-founder of 3B1 Partners, to get his perspective on opportunities in the region. Rodrigo was a past guest on the show three ye...

Original Release Date: 08/29/2022   On today's show we'll discuss a classic empty room – an opportunity ignored by most investors. In this case, we dive into the investment case for Venezuela, a non-starter for pretty much every institution because of the country's autocratic political regime, sanctions, and headline risk. But alongside those known risks are the potential for significant rewards....

No one wants to invest in a small manager. There, I said it. But everyone wants to invest in a great small manager. So how does a small manager try to prove that they're great? Read Ted's blog  here . Editing and post-production work for this episode was provided by The Podcast Consultant ( https://thepodcastconsultant.com )

Ben Forman is the Founder and Managing Partner of ParaFi Capital, a $1.5 billion manager of financial applications of blockchain technology and digital assets across long, arbitrage, venture, and GP seeding strategies. Ben last came on the show in 2022 as part of our Crypto for Institutions mini-series, and that conversation is replayed in the feed.   Our conversation dives into the evolution of b...

Ben Forman is the Founder and Managing Partner of ParaFi Capital, a $1 billion investment and technology firm that focuses on decentralized finance across digital assets, venture equity, and quantitative strategies. Ben launched ParaFi in 2018 after a decade in traditional finance roles across investment banking, credit investing, and private equity at venerable institutions such as Rothschild, TP...

Last week was one of the most volatile in market history. In the last twenty-five years, it's likely matched only by the pandemic and Global Financial Crisis in the breadth of potential outcomes for the future. In a change from our typical market-insensitive conversations, I was fortunate to gather three of the most insightful thinkers on global macroeconomics and geopolitics on Friday to share th...

Louis-Vincent Gave is the Founding Partner and CEO of GaveKal, one of the world's leading independent providers of macro research, and GaveKal Capital, a manager of $2.7 billion in assets. Louis launched GaveKal alongside his father in 2000 and has become a go-to source for creative research on global economics and asset allocation, particularly in China. He recently penned  CYA as a Guiding Princ...

Marko Papic is the Chief Strategist at Clocktower Group, where he provides research on geopolitics, macroeconomics, and markets. Marko recently published Geopolitical Alpha: An Investment Framework for Predicting the Future, an imminently readable book with colorful examples of political analysis. Marko's approach is akin to Moneyball for politics, challenging the orthodoxy of how others tradition...

Australian James Aitken is the Founder and Managing Partner of Aitken Advisors, a one-man macroeconomic consultancy based in Wimbledon, England that works with approximately one hundred of the most influential pools of capital in the world. James started his career in 1992 as a foreign exchange trader, moved to London in May 1999, and in March 2002 joined the infamous AIG Financial Products team i...

Howard Marks is a renowned investment thinker and the co-founder and co-chairman of Oaktree Capital Management, a leading global investment firm overseeing $200 billion primarily in credit investments that is majority owned by Brookfield Asset Management. Our conversation covers Howard's journey from his early days in finance to his current insights on the evolving credit landscape. We dive into t...