Money Maze Podcast

Among the world's super-allocators sits a Canadian institution whose scale and investment approach are a powerful counterpoint to the passive-rules-all narrative.  Managing nearly $900 billion, CPP Investments is also one of the world's largest allocators to hedge funds, an area many of its peers have been reluctant to embrace.  In this episode Heather discusses the changed topography of the Hedge...

We are releasing as episodes, two panels from the recent Money Maze Allocator Summit.  This, the second invitation-only event we have held, gathered some of the world's most significant allocators at the London Stock Exchange for two days of intense discussions and debates.  The agenda ranged from Re-militarisation, the Future of Healthcare, Blockages and Remediations in the World of P.E. to the G...

If you are a West Coast based tech start-up, profiled in the Wall Street Journal, Forbes, and Business Insider, are asked to present at JPMorgan's Investor Summit alongside Jamie Dimon, are backed by Google's AI fund, and have a mission to help organizations detect and correct biased or unreliable outputs from AI models and you are not yet 24, something’s going on!  So today the Money Maze meets i...

Today we welcome a reappearance of author Simon Sebag Montefiore. These few lines set the tone for an outstanding book and brilliant guest: “ But even in easier times, the Middle East has the ability to surprise even the most informed observers and intelligence maestros. After all, the experts failed to predict the emergence of Turkey in 1922, the crowning of Reza Shah in Persia in 1925, the creat...

John Claisse explores the evolution of alternative investing, from private markets and hedge funds to AI, digital assets, due diligence and opportunities across Asia. Albourne has expanded from its genesis in Sussex in 1994, to one of the most recognized global investment advisors in the world of alternatives. It is unusual both as an employee-owned organisation, and because it has adhered to its...

“Airlines are a terrible business. They’re capital‑intensive, unionized, and heavily regulated… there’s very little moat.” So Warren Buffett once observed. But is that still true?  In this episode, we examine the thesis for investability and try to understand the direction and shape of flying.   Ed discusses the economics, competition, premiumisation, the case for “a moat” or structural advantage,...

It is already changing how firms conduct research, construct portfolios, manage risk, and make investment decisions.  In this special compilation episode, we bring together three perspectives from across public markets, hedge funds and private markets, to explore how AI is transforming investment management today and where it may lead tomorrow.  Andrew Veglio, founder and CEO of Vantage Investment...

Most CEOs take years to make their mark.   But after three decades dissecting and helping other people’s businesses at PwC, our guest today spent just two years inside Schroders before deciding it was time to sell the 222-year-old business.  In this conversation, Richard Oldfield explains why he was convinced it was the right path to take, and why the family-controlled business and its board were...

In the world of global credit and event-driven investing, there are few firms that have been both quietly competitive, whilst simultaneously successful and long-standing.   Founded over 40 years ago, Davidson Kempner may not be a household name, but they have navigated cycles by identifying the opportunities which emerge from dislocations, and complexity when the power between borrowers and lender...

In a world where investment classification rules supreme, Sixth Street believes that its flexible architecture, approach, and culture make the firm different.     Sixth Street, founded in 2009, manages more than $130 bn, suggesting flexible capital unlocks opportunities in a world that never stands still.      Sixth Street’s Partner, Co-President & Co-CIO Julian Salisbury is a veteran of 25 ye...

BETA Technologies is a Nasdaq-listed aircraft manufacturer breaking new ground with its advanced pursuit of building world-beating electric planes.  Kyle Clark, Founder and CEO, explains the economic advantages of electric aircraft.  He discusses assembly to operating systems, and then explains how oil majors are the beneficiaries of planes constantly refuelling, but those who own and make the ele...

For the first time in our 6-year existence, the MMP wanted to dive into this somewhat opaque world, in line with our mission to de-mystify areas of business and finance vital to us all. Alan discusses the evolution of the top law firms, why US competition is ferocious, why he relocated to the US to help drive their business, and how they can advise global tech clients simultaneously. He answers th...

“Activism” might be one of the less helpful terms in modern investing, a label that conjures everything from boardroom bust-ups, to terse exchanges between disgruntled shareholders and incumbent managements.  However, in this conversation, Lars explains the early insights gained from collaborations with the great Carl Icahn, to building Cevian, and creating a long-term, extremely successful fund,...

We were surprised, when researching for this interview, to learn that State Street Investment Management are the fourth largest asset manager globally, with circa $6 Trillion of assets.  Size confers both opportunity and challenges, however, and in this conversation Yie-Hsin talks about the global savings gap and the evolution of Asset Management. She addresses the place of the historic 60/40 allo...

Rob Arnott, Founder & Chair of Research Affiliates, discusses where AI works well & can assist across the money management ecosystem, the risk of ‘AI hallucination’ & over-reliance, quant vs human judgement, and the future of work.  Amidst the volumes written about AI’s impact on the business and investing worlds, we wanted to ask some specific questions about adoption, learning, imple...

Sport is one the world’s most powerful convening forces, but the way fans connect and engage is evolving, technology is offering new experiences and the investing world increasingly wants a piece of the action.  One of the powerful new players, is SURJ, Saudi Arabia’s sports investment arm, and leading their team is Danny Townsend, CEO, whose career has moved from professional football, to leading...

Some lives trace the currents of history; a childhood in Wales, growing up in the shadow of parents who had escaped Nazi Germany, academic distinction at Oxford and Wharton, followed by a career that moved from journalism to the apex of Silicon Valley venture capital and a philanthropic record that speaks quietly, but profoundly.  In this episode, we also welcome co-interviewer, Sandra Robertson,...

Moreover, if executed well, it offers the potential to act with a long-term horizon as true asset owners, and to unlock investment opportunities that individual funds might struggle to access alone.  Today in the UK, one of the most consequential organisations in UK pensions, is Border to Coast. They sit at the centre of one of the most significant shifts in UK institutional investing in a generat...

We have had some extremely distinguished guests over the last 6 years, but we haven’t secured one who combines, a Rhodes Scholar, US Army Colonel, Counter terrorism expert, leading the US’s cyber intelligence defence agency, and a lecturer at Oxford and beyond, whilst also having worked at Morgan Stanley, and now CEO at RSAC.  Jen plots a journey from Oxford to Westpoint, from Colonel of the US’s...

A first! For the first time since our inception 6 years ago, we welcome back a guest for their third visit. General David Petraeus, once described by Simon Sebag Montefiore as the ultimate soldier-scholar, is Chairman of the KKR Global Institute.  Prior to this, David had a distinguished US military career and was the CIA Director during the Obama administration.  He assesses the heat map of geopo...

While women leaders in finance are gradually becoming more common, that cannot be said the alternatives industry.  But as traditional investment firms increasingly acquire alternatives and private markets firms, their leaders, styles and backgrounds are experiencing a changing topography.  One of those to have been instrumental in helping build some well-known alts firms, from GLG to Moore Capital...

Emerging Markets, once the darling of the asset allocators world, have found themselves increasingly discarded by those same allocators.  Such became the re-allocation away from them and the magnetism of the US & its technology companies, that as recently as the end of 2024, Emerging Markets were at a 50 year low, relative to the S&P 500.  With some improved relative performance, it may be...

As Mike Milken said on this podcast, “the greatest achievement of humankind in the 20th century, was the doubling of life expectancy.” If living longer seems a powerful goal, the caveat would be only if it goes hand in hand with being healthy whilst being older, AND in not running out of money! In this conversation, Dr Andrew Steele examines, diagnoses, evaluates, and prescribes the implications,...

In this Christmas special, we reshare our conversation with Nicky Gumbel!  Very occasionally one individual can have a disproportionately powerful impact on a collection of people, but very rarely does that person’s impact grow in time and reach, and expand beyond anyone’s expectations and for millions, be responsible for enhancing their lives. In this episode we explore a slightly different realm...

When we interviewed Howard Marks in March of 2025, he observed, “It's the pioneers who get the arrows”. Many consider a 21st century investment pioneer to be Cathie Wood. She embraces disruptive innovation themes early, has faced intense criticism during large drawdowns, has reshaped ETF thinking and is characterised as bold, influential, and controversial.  Cathie explains why studying under Arth...