Capital Allocators – Inside the Institutional Investment Industry
Business:Investing
Today’s show is the first in an ongoing mini-series discussing Breeding Grounds, organizations that have developed and spawned future industry leaders. We’ll cover both allocators and managers to see what we can learn about developing talent.
In the first episode of the mini-series, we discuss Carnegie Corporation of New York. Ellen Shuman became Carnegie’s first CIO in 1999 after working for David Swensen at Yale. Over her dozen year tenure and that of Meredith Jenkins and Kim Lew for the next dozen, and incredible 8 of the 17 investment professionals that walked in the door have become CIOs, and the rest appear either on their way or found their passion as leaders in complimentary roles or outside the industry. Those who became sitting CIOs are Meredith at Carnegie and Trinity Wall Street, Kim at Carnegie and Columbia, Jon Michael Consalvo at Carnegie, Alisa Mall at Michael Dell’s Family Office, Niles Bryant at Bowdoin College, Brooke Jones at Bryn Mawr College, Ken Lee at Children’s Healthcare, and Li Tan at Radian X. Carnegie is a lesser-known allocator training ground than Yale, but it’s produced half the number of future CIOs from fraction of the team size.
My guests to discuss how this happened are Ellen Shuman, Meredith Jenkins, Kim Lew, and Alisa Mall. We cover the chronology of their paths, and the Carnegie organization and investment process, including recruiting, culture, research, decision-making, and succession. Alongside the many applicable lessons they share, their palpable love and respect for each other is evident from the get go.
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Michael Rees – Inside GP Stakes at Dyal Capital (Capital Allocators, EP.278)
JUST RELEASED: Berkshire Partners on Private Equity Deals
Jon Ballis – In the Room Where Private Equity Happens at Kirkland & Ellis (Capital Allocators, EP.277)
Jack Sommers – Core Fixed Income at IR+M (Manager Meetings, EP.39)
Reade Griffith – Managing Assets and Partnerships at Tetragon (Capital Allocators, EP.276)
JUST RELEASED: Stone Point Capital on Private Equity Deals, EP.03
Louis-Vincent Gave – The Case for Emerging Markets (Capital Allocators, EP.275)
[REPLAY] Louis-Vincent Gave – Macro Consequences of Government Sanctions (Capital Allocators, EP.247)
Andy Acker - Empty Rooms: Investing in Biotech at Janus Henderson (Capital Allocators, EP.274)
Annie Duke – The Power of Quitting (Capital Allocators, EP.273)
[REPLAY] Annie Duke - Improving Decision Making [Capital Allocators, EP.39]
JUST RELEASED: Thoma Bravo on Private Equity Deals, EP.02
Matt Brown – Tidal Wave of Capital for Alternatives from Retail (Capital Allocators, EP.272)
[REPLAY] Matt Brown – Democratization of Alternatives at CAIS (Capital Allocators, EP.214)
Adam Wyden - ADW Capital (Manager Meetings, EP.37)
Friends Reunion 2 – Five Allocators Riff on Investing with Meredith Jenkins, Casey Whalen, Brett Barth, Jon Harris, and Ted Seides (Capital Allocators, EP.271)
SPECIAL ANNOUNCEMENT: Private Equity Deals Podcast
Greg Lippmann – The Big Short and Structured Credit at LibreMax (Capital Allocators, EP.270)
Ted Seides – Insights on investing and podcasting (Capital Allocators, EP.269)
Allan Jean-Baptiste and Marco DeMeireles – Under-covered Venture Markets and Teams at Ansa Capital (Manager Meetings, EP.36)
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