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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Blythe Masters - Fintech Innovation at Motive Partners (EP.376)
Jonathan Tepper - Buying Monopolies at Prevatt Capital (EP.375)
[REPLAY] Jonathan Tepper - Variant Perception of Capitalism (Capital Allocators, EP.110)
Mike Freno – Confident Humility at Barings (EP.374)
Michael Leffell – Opening Doors to Niche Private Opportunities at 10 East (EP.373)
Richard Sandler – The Prosecution of Michael Milken (EP.372)
Michael Milken – Innovations in Finance, Medicine, and Education (EP.371)
Michael Mauboussin - Pattern Recognition and Public Markets (EP.370)
[REPLAY] Michael Mauboussin – Active Challenges, Rational Decisions and Team Dynamics (Capital Allocators, EP.36)
Magnus Grimeland – Day Zero Investing at Antler (EP.369)
Brad Jacobs – Masterclass on Leadership and Management (EP.368)
Ron Biscardi – Inside iConnections Global Alts (EP.367)
Sanjay Ayer – Think Different and Get Better at WCM (EP.366)
[REPLAY] Paul Black and Mike Trigg – How to Build a $100B Money Manager (Capital Allocators, EP.227)
[REPLAY] - Mike Trigg – Defying the Fade at WCM (Capital Allocators, EP.162)
[REPLAY] Paul Black - Gratitude, Fun, and Growth Stocks (Capital Allocators, EP.51)
Raphael Arndt – The Death of Traditional Portfolio Construction? (EP.365)
[REPLAY] Raphael Arndt – Australia’s Sovereign Wealth Fund CIO (EP.70)
Chad Summe and Mike Veith – Corridor of Commerce at eGateway Capital (EP.364)
Tilly Franklin – Endowment Model at Cambridge University (EP.363)
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