Capital Allocators – Inside the Institutional Investment Industry

Arjun Sethi is Co-founder and CEO of Tribe Capital, a $1.3B venture capital fund built by engineers and scientists to focus on using product and data science to engineer N-of-1 companies and investments. Arjun was an entrepreneur who founded and sold two businesses and became an active angel investor before turning to venture capital. Our conversation covers Arjun's upbringings in an immigrant family, his early endeavors as an entrepreneur, success as an angel investor, and different way of looking at venture investing. We then turn to his experience implementing this hypothesis at Social Capital and at Tribe, including using data science to identify product growth, qualitative factors, decision making, and working with portfolio companies. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

James Aitken is the Founder 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. He has been a repeat guest on the show, sharing his deep understanding of the inner workings of the financial system. Our first conversation from back in 2018 including his background and process, is replayed in the feed, and the rest of the episodes are available on the website. This time around, our conversation covers James' perspective on the unfolding situation in Ukraine and its implications on markets. We discuss the shift in risk tolerance, friction in the plumbing of the financial system, interaction of energy markets and ESG, inflation and interest rates, reserve currencies and crypto, and his most important takeaways. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

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 in London. In August 2006 he joined UBS, where he deployed his knowledge of the inner workings of the financial system to help his institutional investor clients successfully navigate their portfolios through 2007 and 2008. At the urging of his clients, James established his own firm in June 2009. Our conversation covers James' perspective on the Global Financial Crisis from his seat at its epicenter, the Eurozone crisis in 2011, subsequent process-driven opportunities in Greece, views on Central Banks in the US, China, & Europe, some brief observations on India, positioning for the current environment, and what makes a great macro manager. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership Show Notes 3:03 – The start of his career at AIG Financial Products 7:19 – Move to UBS 9:03 – Influence: The Psychology of Persuasion 10:42 – Sell off of 2006 13:12 – Leaving UBS to go off on his own 24:22 – What makes a great manager 27:55 – What is he seeing in the markets today, especially the US Fed 33:09 – MIDROLL 34:08 – What happens when bond rates normalize 46:36 – China 56:50 - Japan 59:10 – Europe 1:05:28 – Risk in the asset markets 1:08:49 – Advice to allocators 1:11;05 – Why people should be focused on India 1:16:39 – How he spends his time 1:20:56 – Closing Questions

Annie Lamont is a Co-Founder and Managing Partner of Oak HC/FT, a $3.3 billion venture capital firm investing across stages in tech-enable companies in healthcare and financial services. Annie is a legend in the industry. Across her 40 years in venture capital, she has been featured on the Forbes Midas List, the Top 100 Venture Capitalist rankings, and received the Healthcare Private Equity Association's lifetime achievement award. Our conversation covers Annie's beginnings in venture capital, inflection points in the industry, lessons learned, and spinning out to start her own firm. We then turn to her investment process, evaluating CEOs, competitive environment, and opportunities in healthcare and fintech. We close with her perspective on women in the industry and her unique experience as the First Lady of the State of Connecticut. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Occasionally, an event takes place that causes investors to reassess risk. Russian's actions in Ukraine last week could be a tipping point for one of those events. In a divergence from our normal show, I reached out to Marko Papic to see what we could learn. Marko is the Chief Strategist at Clocktower Group, where he provides research on geopolitics, macroeconomics, and markets. He is a past guest on the show, and that conversation is replayed in the feed. Our conversation tackles the implication of the events in the Ukraine on geopolitics and markets over time. We cover Russia, the U.S., oil, China, and answers to the most pressing questions his clients are asking in response to last week's event. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

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 traditionally make investment decisions. Our conversation covers Marko's upbringing, the flaws of most political analysis, and his constraints-based framework. We then turn to the obvious political topic at hand – next week's U.S. Presidential election. We discuss his views of different possible outcomes on the U.S. equity market, rates, tech stocks, China, private equity, ESG, Europe, and emerging markets. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Josh Wolfe is the Co-Founder and Managing Partner of Lux Capital, a $4 billion venture capital firm that invests in solutions to the most vexing puzzles of our time. Josh described his background and Lux's approach back in 2018 on the show and that conversation is replayed in the feed. This time around, we dive into Josh's cautious perspective on the venture landscape and how it impacts Lux's investment process. We then turn to updates on companies we last discussed and a handful of "directional arrows of progress," including smell, deception and detection, the tech of science, infrastructure for the metaverse, crypto, elemental power, space, and Africa. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Josh Wolfe is the co-founder of Lux Capital, a $1.5 billion venture capital firm formed to support scientists and entrepreneurs who pursue counter-conventional solutions to the most vexing puzzles of our time. Josh's innovative thought process across his activities offers frameworks and insights applicable across the spectrum of investing. Our conversation covers Josh's early passion for science and finance, building a competitive advantage in venture capital from scratch, sourcing ideas, conducting due diligence, making investment decisions, constructing portfolios, making exits, learning from mistakes, navigating a challenging private equity environment, posting on Twitter, active vs. passive management, dinner table conversation, and life lessons. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

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, the launch of Accolade into the dot.com bubble, and its evolution over twenty years. We then discuss her perspectives on the four ways to win in venture capital, assessing culture, adding value as an LP, portfolio construction, re-upping decisions, and investing in the current environment. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Aydin Senkut is the Founder and Managing Partner of Felicis Ventures, a $2 billion early stage venture firm that invests in founders building iconic companies that transcend geographic and industry boundaries. Its success has placed Aydin on the Forbes Midas List for the past 8 years. Our conversation covers Aydin's early exposure to entrepreneurship and international business, experience as the first international product manager at Google, and transition into angel investing and founding Felicis. We discuss his investment philosophy, proactive sourcing, and doing whatever it takes to join the cap table and support founders. We close with Aydin's perspective on competition in the venture capital industry. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Ali Hamed is the Founder of CoVenture a $2 billion investor across the capital stack of technology start-ups reinventing the economy of the future. Ali first appeared on the show three years ago when CoVenture's assets were around $100 million. That conversation is replayed in the feed. Our second conversation starts with an update on CoVenture's growth and dives into Crossbeam Venture Partners, CoVenture's venture business. We discuss Crossbeam's sweet spot, sourcing, due diligence, deal dynamics, ownership, and decision-making for follow-on rounds. We then turn to examples in fintech and platforms, and close with how CoVenture's taste for novel assets fits into the venture ecosystem. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Ali Hamed is the co-founder of CoVenture and Managing Partner of the CoVenture VC Fund. CoVenture is an innovative company that identifies and invests in novel assets formed by the intersection of technology and finance. The firm manages an early stage venture capital fund, direct lending fund, and crypto asset index fund, with each taking a creative twist on its market. Our conversation starts with Ali's entrepreneurial path to the creation of CoVenture, and covers examples of previously unpriced investment opportunities, including produce receivables, employee payroll loans, AirBnB accounts, and loans against employee stock options. We walk through the world of crypto assets and the state of the venture capital industry. Ali's fresh lens on the world offers a fascinating perspective on every aspect of early stage investing. If I didn't say it in advance, you'll be astounded to hear that Ali is only 26 years old. He's one to watch for the long-term. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Fabrice Grinda is an entrepreneur, angel investor, and founder of FJ Labs, a venture capital firm that backs a diversified portfolio of startups in marketplace businesses. The firm takes a founder-friendly, non-institutional approach, employing heuristics to formulate quick decisions. Our conversation covers Fabrice's path as a serial entrepreneur and lessons learned building and investing in marketplaces. We discuss FJ Lab's unique investment process focused on four investment heuristics and expeditious decision making. We then turn to its position in the venture ecosystem and investable themes in the coming years. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

On today's Manager Meeting, Greg Dowling interviews Florian Bartunek. Greg is the Co-CIO and Head of Research for Fund Evaluation Group, an institutional OCIO and investment consultant with $83 billion in assets under advisement. Florian is the founding partner and CIO of Constellation Asset Management, a long-only asset manager focused on Brazil with approximately $3 billion in AUM. Florian founded Constellation in 1999 alongside Jorge Paulo Lemann and 3G and brought in Steve Mandel's Lone Pine Capital as a partner in 2007. Their conversation starts with Florian's career in investment management, his passion for reading, and an overview of Brazil's business environment and equity market. They then turn to Constellation's investment philosophy, team, portfolio construction, and investment examples. Lastly, Florian discussed opportunities and risks in Brazil, and his prediction for Brazil in the next World Cup. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Sean O'Sullivan is the founder of SOSV, a $1 billion global venture capital firm that seeds 150 companies a year through start-up development programs that support entrepreneurs across hardware, bioengineering, China, mobile apps, and the blockchain. Sean has pretty much done it all. He grew up on welfare, found his way to technology in the 1970s, and started his first company in his early 20s. That company, called MapInfo, was the original street map technology well before the days of the internet. Sean formed more companies and began angel investing with the proceeds. Along the way, he created twenty patents for ride sharing, coined the term cloud computing, appeared in Ireland's version of Shark Tank, and formed a series of start-up development programs to support early-stage entrepreneurs. Our conversation covers Sean's path to entrepreneurship and investing, accelerator strategy, sourcing ideas, working with entrepreneurs, preparing businesses to exit SOSV's programs, investing in follow-on rounds, drivers of success, and positioning in the venture ecosystem. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Chris Douvos is the Founder and Managing Director of Ahoy Capital, where he invests in early-stage venture funds and co-invests alongside his managers. Chris has been a fixture in venture capital for nearly two decades and was an early guest on the show back in 2017. That replay is posted in the feed. Our conversation offers an LP perspective on the venture landscape, covering the current environment, range of players in the early stage, and how Chris is navigating the landscape. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

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, available at SuperLP.com. Prior to joining VIA, Chris spent seven years co-heading the private equity program at The Investment Fund For Foundations, or TIFF. In this role, he was responsible for another $1 billion in new capital commitments. Before joining TIFF, Chris worked on Princeton University's endowment team. He started his career as a strategy consultant at Monitor Company. He is a graduate of Yale University and the Yale School of Management. Our conversation starts with Chris' path to venture capital, through strategy consulting, investment banking and an endowment investment office. We talk about perception and reality in venture investing, exciting areas of future innovation, and the nuts and bolts of research, portfolio construction and decision making when running a portfolio of venture funds. When Chris pulls off his suit, the red undershirt of the Super LP remains. He's a charismatic guy with great insight into how the venture capital game is played and draws many parallels from venture to investing in general. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

David Rosenthal and Ben Gilbert are venture capitalists and hosts of the Acquired podcast. Acquired is one of my favorite shows. In it, David and Ben tell stories of great companies in technology with thorough research and a fun, engaging style. Our conversation kicks off the mini-series with their respective backgrounds in venture, the creation of Acquired, and their research process for show. We then dive into the origins of the cottage venture capital industry, inflection point after the tech bubble, rise of an abundance of capital, firms investing across stages, the competitive response of others, the mass introduction of angel investors, businesses staying private for longer, and the potential for crypto to change the game once more. Whenever we're set with this (or when you tell me to), I'll send the next 5 episodes along. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

On today's Manager Meeting, Eric Upin interviews Jamie Montgomery. Eric is the Co-founder of Point Olema Capital, a private investments office serving multigenerational families. He previously served as the CIO of Makena Capital Management, CIO at Stanford Management Company, and the interim CIO at Washington University in St. Louis, where he remains Executive Board Chair. Jamie is the Co-Founder and Managing Partner of March Capital, a $1 billion Santa Monica-based venture and growth equity firm that invests in AI, cyber, fintech, data infrastructure and gaming. Before they get going, Eric and I discuss his history with Jamie and his frameworks for thinking about investing in March and its positioning in a venture portfolio. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Our second annual review is an audio version of my annual letter to you. After the annual review, stay tuned for a rundown of the top shows of 2021. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Chamath Palihapitiya is the founder and CEO of Social Capital, where he invests in private businesses, public markets, and experiments with that objective of compounding capital at high rates so that he can advance humanity by solving the world's hardest problems. Chamath previously was an early employee at Facebook, a prolific angel investor, and co-founder of the venture capital business that was the first version of Social Capital. He's been in the press of late for raising and deploying a series of large SPACs and for his outspoken views. Our conversation covers Chamath's path to Facebook and Social Capital, his period of self-discovery, and the resulting Social Capital 2.0 to express his views of the world. From there, we dive into SC Emerging Managers, Social Capital's newest program to back managers from diverse backgrounds. Lastly, we circle back to the purpose of Social Capital and how Chamath gets it all done. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Barry Sternlicht is Chairman, CEO, and Founder of Starwood Capital Group, a $95 billion real estate investment firm with 4,000 employees and 16 offices worldwide. Barry has invested nearly $200 billion across every major real estate asset class around the world. The list of related real estate companies he's created, results, and associated accolades are extensive and truly impressive. Our conversation covers Barry's beginnings as an entrepreneur and real estate investor with some great stories along the way. We then turn to the current opportunity set across real estate asset classes and geographies and close with his approach to managing his own capital through his family office, SPACS, and experience during the pandemic. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Katy Milkman, the James G. Dinan Professor at The Wharton School of the University of Pennsylvania, host of Choiceology, Charles Schwab's popular podcast on behavioral economics, the co-founder and co-director alongside Angela Duckworth of the Behavior Change for Good Initiative, and most recently, the author of How to Change: The Science of Getting From Where You are to Where You Want to Be. Our conversation covers Katy's path to studying change and her new book, which is framed around identifying obstacles to change and using scientific principles to get past those obstacles. We outline the eight obstacles in the book and dive in on the challenges of getting started, confidence, conformity, procrastination, laziness, and making changes last. Along the way, we touch on some applications of her research to investing and to her own life. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Yen Liow is the founder and Managing Partner of Aravt Global, a fundamental global equity firm based in New York that manages long-short and long only products. Yen founded Aravt after a long stint at famed family office Ziff Brothers Investments, where he was part of the team that managed a market, neutral long-short hedge fund in a culture of framework thinking and continuous improvement. Our conversation covers Yen's background, experience at ZBI, and lessons about process, competitive edge, and training. We then turn to his application of those lessons to Aravt Global. We discuss three right tail strategies for long positions, the challenges in owning compounders, the art of short selling, portfolio construction, game selection, drivers of success, and challenges going forward. For those lovers of learning about the nuance of public equity investment strategies, you're in for a real treat. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

My guest on the first episode of Private Equity Masters is John Toomey, one of two members of the Executive Management Committee at HarbourVest Partners. For more than thirty years, HarbourVest has invested across all parts of the private equity spectrum - in funds, secondaries, and direct co-invests. Today, it oversees over $75 billion of assets and canvasses the world. Our conversation discusses the early days of private equity investing, evolution of strategies across primaries, co-invests, and secondaries, international expansion, best practices of managers, the next wave of growth opportunities, and risks in the space. John has a unique perch at the top of the industry and offers a wonderful perspective to kick off the mini-series. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

On today's manager meeting, Nat Fraser interviews Justin Fishner-Wolfson. Nat is an Executive Director at Agility, a $15 billion outsourced CIO firm serving 42 endowments, foundations, family offices and corporations. Justin is the Co-Founder and Managing Partner of 137 Ventures, a $2 billion growth-stage venture firm with a differentiated approach to sourcing deals. 137 provides customized liquidity solutions directly to founders, investors, and early employees of private technology companies. Before they get started, Nat and I discuss his diligence process, success of 137's structure, and the evolution of the market. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Paul Black and Mike Trigg from WCM Investment Management are both past guests on the show who have taken an investment philosophy focused on culture and moat trajectory to turn a once struggling boutique into a $100 billion powerhouse. Paul came on the show a few years ago when WCM had quietly grown to $25 billion in assets, and Mike joined a year ago to dive into their research process. Their colleague Mike Tian shared another perspective earlier this year when he described applying WCM's moat trajectory discipline to investing in China. In this continued exploration of WCM, we start with the truly unique facts about the firm's rebirth a decade ago and turn to key features of its success, including embracing change, the importance of culture - alongside some characteristics of toxic cultures, hiring practices, telling the truth, integrating new team members, managing turnover, and transitioning leadership to the next generation. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

You may remember my popular first meeting from a few years ago with Paul Black of WCM, then a $25 billion asset manager in Laguna Beach, CA. Since then, WCM has gone up and to the right in every way, they sold a minority piece of the business to Natixis, continue to put big numbers on the board, and have grown to north of $66 billion, defying the fade of active management outflows. My guest on today's show is Mike Trigg, a partner and portfolio manager of WCM's Focused International Growth strategy that comprises the majority of the firm's assets. We discuss Mike's background, arrival at WCM in 2005, near implosion of the firm shortly thereafter, and the rising of the international strategy from those ashes. We then dive in deeper to the core tenants of WCM's approach, discussing how the firm analyzes widening moats and cultures tied to competitive advantage. Lastly, we talk about how WCM's growth has impacted the firm. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Paul Black is Co-CEO and portfolio manager at WCM Investment Management, a $26 billion manager of global equities that he joined when it was a $200 million boutique in 1989. With so much of the institutional world, including my own training, focused on value investing, I was pleasantly surprised to learn about a large, high performing growth stock manager located in a non-descript building in Laguna Beach, California. Our conversation starts with Paul's trial-by-fire entry into the business and turns to growth stock investing, including defining a great growth company, searching for widening moats, assessing a culture tied to competitive advantage, creating a positive culture, learning from mistakes, identifying tailwinds, and protecting the downside. Paul embodies the principals he preaches and offers some tasty food for thought. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

On today's Manager Meetings, Jason Klein sits down with Jarrid Tingle and Henri Pierre-Jacques. Jason is is the CIO at Memorial Sloan-Kettering Cancer Center and a past guest on Capital Allocators. Jarrid and Henri are co-founders and Managing Partners of Harlem Capital, a venture capital firm seeking to change the face of entrepreneurship by investing in 1,000 diverse founders over the next 20 years and creating a community to support diversity across the industry. Before they get going, Jason and I discuss the attributes that attracted him to Harlem, monitoring and evaluating a first time fund manager, and sizing the position in his portfolio. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Christopher Zook is the Chairman and CIO of CAZ Investments, a twenty-year old, non-traditional multi-family office that has $3 billion invested in a series of thematic strategies, including $500 million from the CAZ team and its shareholders. Our conversation covers Christopher's self-determined path to creating CAZ, a thematic model that creates raving fans, and some of CAZ's investment themes, including GP stakes, midstream energy, disruptive technology, and changing consumer behavior. Along the way, we touch on CAZ's investment philosophy, sourcing, research, and implementation of themes. We close with Christopher's relationship with Tony Robbins, and the future of CAZ with Tony as a partner. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

On today's Manger Meeting, Chris Douvos interviews Bill Trenchard. Chris was an early guest on Capital Allocators and is the Founder of Ahoy Capital, a boutique fund of funds focused on early-stage venture. Bill is a Partner at First Round Capital, which focuses on seed-stage investing in technology companies. Bill joined First Round after starting five companies and led First Round's investments in Uber, Flexport and LendingHome. Before they get going, Chris and I discuss his initial discovery of First Round, the evolution of the firm, and his ability to get capacity in what has become a first-tier, oversubscribed venture capital firm. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Ian Charles and Doc O'Connor are the Co-Founders and Managing Partners of Arctos Sports Partners, a private equity firm dedicated to buying minority stakes in professional sports franchises. From its founding just two years ago, Arctos quickly has become the market leader in the space, raising a $2.1 billion first-time fund and a SPAC alongside Executive-in-Residence Theo Epstein, and buying stakes in MLB teams including the Boston Red Sox, the Golden State Warriors and Sacramento Kings in the NBA, and a compliment of other sports assets. Our conversation covers their backgrounds and the formation of Arctos, the investment opportunity in sports franchises, and the underlying business and ownership structure. We then turn to the unique characteristics look of the asset, investment process, and growth strategy. Full disclosure, I am a personal investor in Arctos' fund and am a fan of their strategy and team, pun intended. I hope you'll enjoy this conversation with Doc O'Connor and Ian Charles as much as I did. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

On today's Manager Meeting, Ben Cooper interviews Will Cook. Ben is the Head of Manager Research at Cardano Group, a market leading investment adviser for pension schemes in the UK and Netherlands that oversees GBP 15 billion of discretionary assets and advises on GBP 50 billion of assets. Will is the portfolio manager at Sunriver Management, a fundamental long-short equity investment firm he founded in 2014 after a long tenure at Ziff Brothers Investments. Sunriver focuses on underfollowed mid and small cap stocks. Before they get going, Ben and I discuss long-short equity investing, selecting Sunriver, Cardano's exhaustive research process, and the fit of Sunriver in their client portfolios. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

Chas Cocke is the founder of LB Partners and a former co-founder of Investure, one of the original scaled OCIO businesses. Chas has followed an atypical path from a decade as an allocator to a focus on stock picking, first building an internal direct team at Investure and then launching LB in 2019. Chas opened and closed LB to new capital on day one, and recently created a digital infrastructure index that trades as an ETF under the ticker BYTE. You can learn more about it at iodigitalindex.com Our conversation covers Chas' path to allocation, lessons learned at UVIMCO, key aspects of successful manager selection at Investure, and his passion for and transition to direct investing. We close with the application of lessons to his investment process. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

On today's Manager Meeting, Tarik Serri interviews Brian Higgins. Tarik is a Senior Director at Trans-Canada Capital, a $23 billion investment management firm that oversees the pension assets of Air Canada and outside organizations. Brian is co-founder and co-portfolio manager of King Street Capital, a 25-year-old, credit-focused hedge fund that manages $20 billion in assets. Before they get going, Tarik and I discuss King Street's distinctive features, TCC's ongoing due diligence, and the fit of King Street in TCC's portfolio. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

Todd Boehly is the Co-founder, Chairman, and CEO of Eldridge, a multi-billion dollar permanent capital holding company with investments in eighty businesses, including high profile brands like the Los Angeles Dodgers, Dick Clark Productions, and The Hollywood Reporter, and an array of companies across other industries, including media, insurance, real estate, asset management, and technology. Combining its structure and Todd's acumen, CNBC recently postured that Eldridge may be the next Berkshire Hathaway. Our conversation covers Todd's early beginnings in structured credit, growing an asset management business at Guggenheim, and the formation of Eldridge. We then turn to his investment strategy and investments in asset management, media, gaming, and technology. Along the way, we discuss Todd's thoughts on sourcing, negotiation, structure, management, capital allocation, and the future of Eldridge. Learn More Three treats from Capital Allocators for the holiday season Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

On today's Manager Meeting, Michael Liddy speaks with Kyle Samani and Tushar Jain. Mike is a Partner at Evanston Capital Management, a $4.5 billion hedge fund of funds, whose CIO Adam Blitz was a past guest on Capital Allocators. Kyle and Tushar are Co-Founders and Managing Partners of Multicoin Capital, a $4.5 billion thesis-driven manager of cryptocurrencies, tokens, and blockchain companies. Kyle and Tushar founded Multicoin in 2017 and have grown its hedge fund and venture businesses to one of the largest in the space. Before they get going, Mike and I discuss Evanston's process to invest in the space, diligence specific to crypto strategies, selection of Multicoin, and fit in their portfolio. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

Richard Tedlow is the Class of 1949 Professor of Business Administration Emeritus at the Harvard Business School, where he spent three decades teaching business history. Richard left HBS in 2010 to join the faculty of the new Apple University and retired in 2018. Earlier this year, he published The Emergence of Charismatic Business Leadership, which is the subject of the show. Our conversation covers Richard's background and lessons learned teaching for four decades. We then turn to his latest tome, discussing the American history of business leaders without charisma, transitional period introducing charisma, and the modern era of superstar CEOs. Along the way, we discuss the definition, traits, downside, and future of charismatic business leadership. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

On today's Manager Meeting, Craig Bergstrom interviews Himanshu Gulati. Craig is the Chief Investment Officer at Corbin Capital Partners, a $9 billion investor in hedge funds and opportunistic credit strategies. Himanshu is the Founder and CIO of Antara Capital, an event driven hedge fund that invests across the capital structure in loans, bonds, distressed credit, and special situation equities. Antara combines a fundamental approach with active trading, dynamic asset allocation, and risk management. Before they dive in, Craig and I discuss getting to know Himanshu, investing alongside him as part of due diligence, and the fit of Antara in Corbin's portfolio. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

Jordi Visser is the President & CIO of Weiss Multi-Strategy Advisers, a $4 billion hedge fund focused on an innovative investment process, insightful data analytics, and cutting-edge thought leadership. Jordi came on the show and discussed his background and Weiss' strategy back in 2019. That conversation is replayed on the feed. This time around we get a glimpse of Jordi's thoughtfulness and rigor across work and life, including baseball cards for portfolio managers, the adaptability quotient or AQ, analytics for business development, and the great resignation in asset management. We then turn to Jordi's market views on inflation and interest rates, blockchain and decentralization, health and longevity, and mental health and anxiety. We close with his passion for horseracing and its application to money management. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

Jordi Visser is the President & CIO of $1.7 billion Weiss Multi-Strategy Advisers, an asset management firm with a 40-year history of focusing on innovative investment processes and cutting edge thought leadership. Our conversation covers Jordi's decade of learning at Morgan Stanley, and then turns to a deep dive on all aspects of Weiss' equity market neutral, multi-manager process, including the importance of data visualization to risk management, behavioral alpha, improving portfolio manager performance, blending macro insights with a multi-manager team, factor-based replication, hiring managers, ranking managers, and knowing when to move on. We then discuss issues with the use of analytics outside of public equities, pending problem caused by high corporate leverage, opportunities in biotech and healthcare, the future of the hedge fund industry, and positioning an asset manager for the future. Jordi leads a rigorous approach to identifying, assessing, and improving an internal multi-manager team using data analytics. The transparency and tools he employs are a few steps ahead of where most allocators find themselves today, and as such, his insights can shine a light on the path where all allocators can develop going forward. Learn More Discuss show and Read the Transcript Join Ted's mailing list at CapitalAllocatorsPodcast.com Join the Capital Allocators Forum Write a review on iTunes Follow Ted on twitter at @tseides For more episodes go to CapitalAllocatorsPodcast.com/Podcast

On today's manager meeting, Tim Recker interviews Satya Patel. Tim is the Chief Investment Officer of the $4 billion James Irvine Foundation. Satya is a Partner and Co-Founder of Homebrew, a $190 million seed stage venture capital firm that takes a concentrated, hands-on, and thesis driven approach. Satya also is a Venture Advisor to Screendoor Partners, an investment vehicle designed to back underrepresented first-time venture capitalists. Before they get going, Tim and I discuss his interest in Homebrew, distinction from other operator-led VCs, and his perspective on Screendoor. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

Savneet Singh is the President and CEO of PAR Technology Corp and a Partner at CoVenture. PAR is a $1.6 billion market cap public company whose technology services over 10,000 restaurant locations in over 110 countries. And CoVenture is a $2 billion investment firm focusing on novel asset classes whose founder, Ali Hamed, was a past guest on the show. Savneet previously co-founded GBI, an electronic platform for the trading of real assets, and Tera Holdings, a holding company of niche software businesses. He is an unusual talent whose achievements have been recognized on the Forbes 30 under 30 and Crain's 40 under 40. Our conversation covers Sav's early love of investing, time on Wall Street, transition to operator, and lessons learned along the way. We then turn to PAR, discussing its history, corporate culture, and trends in software. We close Savneet's thoughts on crypto, advice for managers and allocators, and his growth as an investor from serving as an operator. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

On today's manager meetings, Ellen Ellison speaks with Rashmi Kwatra. Ellen is a past guest on Capital Allocators when she was Chief Investment Officer of the University of Illinois Foundation. Rashmi is the founder and CIO of Sixteenth Street Capital, a Singapore based manager focused on emerging and frontier markets in South and Southeast Asia with $240 million under management. Sixteenth Street manages a concentrated fundamental equity portfolio with a long-term focus on Asia's fastest growing capital markets. Before they kick it off, Ellen and I discuss her due diligence process and the fit of Sixteenth Street in her portfolio. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

Paula Volent is the recently named Chief Investment Officer for Rockefeller University's $2.5 billion endowment. Paula previously oversaw Bowdoin College's endowment for twenty years as it grew from $450 million to $2 billion during her tenure and generated returns at the very top of the industry. Bowdoin's Investment Committee Chair, Stan Druckenmiller, describes Paula as an innovative, outside-of-the-box thinker, an aggressive risk taker, and a workaholic whose passion is unlike anyone he has ever seen. Paula is also one of my oldest friends in the business from our time crossing paths at Yale in the mid '90s. Our conversation covers Paula's unique career path from art conservation to endowment management and the transferable lessons she learned along the way. In the process, we discuss her approach at Bowdoin and plans for Rockefeller University. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

On today's Manager Meetings, Kim Lew speaks with Stefan Kaluzny. Kim is the President and Chief Executive Officer of the Columbia Investment Management Company, where she is responsible for managing the University's $11 billion endowment. She also recently received Institutional Investor's Lifetime Achievement Award. Stefan is a Founder and Managing Director of Sycamore Partners, a private equity firm specializing in consumer, distribution, and retail with approximately $10 billion in assets under management. Sycamore's sector-oriented strategy focuses on partnering with management teams to improve operating profitability and strategic value in their business. To kick it off Kim and I discuss her due diligence process at Carnegie and her upcoming re-underwriting of Sycamore at Columbia, both with an eye on her longstanding friendship with Stefan. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

Erik Serrano Berntsen is the Founder and CEO of Stable Asset Management, whose mission is to back the Founders of tomorrow's leading investment firms. Our conversation starts with Erik's own experience from launch to around $3 billion in assets under management today. We turn to the lessons he's learned providing strategic capital, advice, and support to investment Founders early in their lifecycle. We discuss the qualities that make for successful Founders and the factors to maximize the probability of success across building teams, attracting capital, and staying resilient. We close with Erik's perspective on the seeding business. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

On today's episode of Manager Meetings, Ethan Berman interviews Hamish Corlett. Ethan was the founder and CEO of NYSE-listed RiskMetrics Group until it was bought by MSCI in 2010. Upon the sale of the business, Ethan invested in just one money manager, TDM, a shareholder of RiskMetrics at the time. Hamish is a co-founder of TDM Growth Partners, an Australia-based investment firm that manages $1.5 billion in growth companies ranging from early-stage privates to publicly-listed companies on behalf of just 20 individuals. Before they get going, Ethan and I discuss how he met TDM, their research process from his perspective as a CEO of a public company, and his decision to invest personally. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts

Matt Brown is the Founder CEO of CAIS, a leading alternative investment platform on which thousands of financial advisors have invested over $12 billion in alternatives across private equity, private credit, hedge funds, and real estate. Our conversation covers Matt's background as both a financial advisor and distributor of alternatives that collectively led to the idea behind CAIS. We discuss the development of a two-sided platform, structural features for both financial advisors and managers, and challenges along the way. We then turn to the wave of capital coming from this community and what it means for investors. Lastly, we discuss Matt's perspective on leadership and the future of CAIS. Learn More Subscribe: Apple | Spotify | Google Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Read the transcripts