The number one question when portfolios don’t deliver outcomes as expected is ‘why?’ A newly updated analysis of nearly 300 institutional equity portfolios totalling $250+ billion of assets reveals the six common drivers of unexpected investment results. Join Northern Trust Asset Management as they uncover the six key…

Josh Fenton is the CIO of the Leona M. and Harry B. Helmsley Charitable Trust, an $8 billion pool he began leading earlier this year upon the retirement of Roz Hewsenian, who served as CIO for the prior twelve years. Roz was a past guest on the show, and that conversation is replayed in the feed. Our conversation follows…

In this OUTThinking Investor episode, David Rubenstein, co-founder of The Carlyle Group, joins David Hunt, PGIM’s President and CEO, for a wide-ranging conversation about private equity and alternative investing, inflation and the probability of a recession, the future of globalization, and philanthropy.

The Canada Pension Plan has prospered by investing in alternative markets such as private equity and debt, becoming a model for institutional investors around the world. Today, global pools of private capital stand at over $12 trillion, doubling in just six years.

The Yale Investments Office will soon select its first round of Prospect Fellowship recipients, where Yale will offer working capital, investment capital, and training to a cohort of five emerging managers. I’ve been thinking about why Yale launched the Fellowship and what might happen as it rolls out. Yale, emerging…

Letitia Johnson is the CIO of Amherst College, where she manages the school's $4 billion endowment. Our conversation covers the subtleties of managing an endowment with a concentrated, bottom-up manager-selected approach for the long-term, including portfolio construction, risk and liquidity management, long-term…

Rosalind M. Hewsenian is the CIO of the Helmsley Charitable Trust, responsible for the strategic direction & implementation of its investment programme. Prior to joining Helmsley as deputy CIO in 2010, Roz was the former CEO of Clay Finlay LLC, former principal at Wilshire Associates for 21 years, as well as former lead…

Alan Forman is the former Director of Real Estate at the Yale Investments Office, where he spent 31.5 years before retiring last year. For three decades, Alan was one of the core four at Yale alongside David Swensen, Dean Takahashi, and Tim Sullivan.

Anyone adopting the “Yale Model” is well served to revisit David Swensen's writing from time to time. Perspectives on illiquid investments, asset allocation, active management, private equity, and rebalancing that differ from the conventional wisdom define the Yale Model.

Mike Lukasek is a Managing Director and the COO for the University of Pennsylvania’s Office of Investments. Mike has been the COO of Penn’s Endowment for over 14 years. Prior to that, he was a VP at Goldman Sachs for their private equity fund of funds business and a VP of Finance at Summit Partners. Given his tenure at Penn…

Our conversation covers David’s background and path to Baylor, the three styles of endowment management pursued in the industry, and the thematic top down approach he employs. We discuss his implementation of that approach across risk management, portfolio construction, private markets, manager selection, and turnover.

Tilly Franklin is the CEO and Chief Investment Officer at University of Cambridge Investment Management, where she oversees the £4.0B Cambridge University Endowment Fund. UCIM applies an endowment model approach primarily investing in managers and with an overall emphasis on sustainability. We discuss Tilly’s background that…

Sandra Robertson is the CEO and CIO of Oxford University Endowment Management. Prior to her time at OUem, she spent 14 years at the Wellcome Trust, where she held various positions including, Head of Private Equity, Head of Alternative Assets, and most recently, Co-Head of Portfolio Management.

Ana Marshall is the CIO for the $14 billion William and Flora Hewlett Foundation and a two-time past guest on the show. This time around, we discuss Ana’s recently published book, The Climb to Investment Excellence. It is an outstanding, thorough guide for any leader overseeing a pool of institutional capital.

Allison Thacker is the President and Chief Investment Officer of Rice Management Company, where she oversees Rice University's $8 billion dollar endowment. Allison spent eleven years picking growth stocks before joining Rice eleven years ago.

Stan Miranda is the Founder and Chairman of Partners Capital, a $50 billion OCIO that started in 2001 as a solution for private equity founders. We discuss the firm’s original interpretation of the endowment model, manager selection process, evolution of the endowment model since.

Kimberly Sargent is the Chief Investment Officer of the Packard Foundation where she oversees $10 billion. She is a well-respected member of the Yale diaspora, having started her career under David Swensen. Our conversation covers Kim's time at Yale, some lessons learned from David Swensen, and her application of them…

Amy Falls is the CIO at Northwestern University, where she oversees the school’s $14.2 billion endowment that supports university operations and funds about a quarter of the University’s annual revenue. She also serves on the Board of Harvard Management Company, the Ford Foundation, Phillips Academy, and the Pete Peterson…

Scott Wilson is the CIO of Washington University’s endowment. Scott discusses what he looks for in good partners, what he's learned from investing in China and emerging markets, and red flags in the venture space.

Sean Arp is the Chief Operating Officer of the University of Wisconsin Foundation. He oversees all investment operations, analytics, reporting, technology, personnel, and strategic initiatives. Prior to joining UWF in 2022, Sean spent eight years at Washington University in St. Louis Investment Management Company (WUIMC)…