Hansen Ringer, Managing Partner at Sepio Capital, discusses how family offices can construct resilient portfolios, the role of hedge fund allocations, strategies for managing end-of-lifecycle funds, and what sets great GPs apart. He also shares insights into private equity tactics, asset allocation, and the dynamics behind successful investment partnerships.

(0:00) Introduction to Cepio Capital and Investment Strategies

(3:20) Insight into Family Office Portfolio Construction and Decision Making

(13:18) Sponsor: Reed Smith

(13:56) Hedge Funds and Private Market Allocations

(17:25) Managing End-of-Lifecycle Funds and Evergreen Structures

(22:17) Private Equity and Venture Capital Portfolio Strategies

(28:38) Sponsor message: Carta

(29:24) Asset Allocation and the Role of Benchmarks

(33:19) Key Takeaways from Cepio Capital's Experience

(37:46) GP Selection Process and Partnership Dynamics Evaluation

(41:29) Conclusion and Final Thoughts from Hansen Ringer

(41:56) Sponsorship Information and Closing Remarks

Victor Mayer, Managing Director, Head of Private Wealth at Pantheon sits down with David Weisburd to discuss why top GPs are rushing to evergreen funds, how Pantheon balances small-cap potential and large-cap stability, and the benefits of Pantheon’s no-cost co-investment deals.

(0:00) Introduction and Pantheon Overview

(1:32) Exploring Evergreen Funds and Their Advantages

(5:08) The Future and Tax Implications of Evergreen Funds

(7:01) Target Demographic and Concerns in Evergreen Fund Management

(10:50) Allocation Policies and Investment Theses in Bio Funds

(16:17) Strategies in Portfolio Construction for Small to Middle Market Buyouts

(17:43) Fee Structures in Continuation Vehicles and Secondary Investments

(22:24) Co-investment Procedures and Diversification Tactics

(26:16) Evergreen Structures in Venture Capital and Market Comparisons

(32:44) Final Insights and Future Directions for Pantheon

(34:23) Closing Remarks

James Langer, Chief Executive Officer and Chief Investment Officer at Redmont Wealth Advisors sits down with David Weisburd to discuss how Reason small cap stocks are crushing large caps, the academic approach to outperforming with small cap strategies, and the history of top stocks since 1926.

(0:00) Historical performance of small cap value vs. large cap growth

(0:46) Why the strategy isn't widely adopted and introduction of James Langer

(2:11) Explanation of Fama and French's three factor model and its practical impact on returns

(4:29) Small cap value performance in various market conditions

(6:06) Intuition behind small cap value outperformance and practical investment advice

(10:19) Benefits of equally weighted index and active strategy in small cap value investing

(14:23) Redmond's investment strategy and ideal portfolio profile

(18:06) Indexing vs. active management for large stocks and Redmond's approach

(24:13) Activist investing, governance, and the role of fees and asset allocation

(27:07) Analysis of David's public portfolio and Redmond Wealth Advisors' tools

(28:45) Dedication to Ken French

(29:41) Closing remarks and sponsorship information

Chris Dion, Co-Chief Investment Officer and Managing Partner at Brockenbrough sits down with David Weisburd to discuss what makes small buyout funds resilient, how small buyouts outperform big private equity deals, and why the deal leader matters more than the firm.

(0:00) Introduction to Buyout Strategies and the Endowment Model

(1:23) Client-First Approach and Long-Term Retention Strategies

(3:03) Evolving Practices in OCIO and Endowment Success Factors

(8:05) Team Decision-Making and Future Endowment Performance

(9:26) Deep Dive into Small Buyouts and Manager Performance

(17:49) LPs' Focus on Small vs. Large Buyouts and Anatomy of Returns

(20:40) Conclusion and Repeatable Small Buyout Processes

(20:51) Sponsor: ${name}

Christopher Zook, Founder, Chairman, & Chief Investment Officer at CAZ Investments sits down with David Weisburd to discuss the cost of keeping the wrong person on the team, the crucial mistake CEOs make when building a strong culture, and the secret behind faster growth and success.

(0:00) Investing in sports franchises

(0:39) Introduction and welcome

(0:54) The real reason behind investing in sports

(2:13) Partnering and opportunities in sports investments

(3:50) Underwriting and growth in sports franchises

(8:00) Insights from "The Holy Grail of Investing"

(10:23) Compounding in investment firms

(12:06) Investing in asset managers' careers and specialization

(15:20) Risk management and maintaining a high batting average

(20:57) Finding positive asymmetry in investment opportunities

(21:06) Unpacking the details of the trade referenced in The Big Short

(23:39) The significance of the John Paulson trade for CAS

(24:44) Avoiding market gaslighting and sticking to first principles

(26:14) Sponsor: Carta

(27:01) Current non-obvious investment themes

(30:03) CAS culture and core values

(32:23) Enforcing and maintaining an excellent culture

(37:08) The difference between good managing and good coaching

(39:25) Turnover expectations and transforming bad culture

(41:34) Hiring slowly and firing quickly with feedback systems

(44:14) Utilizing annual 360 reviews for growth

(46:35) Christopher Zook's partnership with Tony Robbins

(48:46) Aligning stated and actual culture in organizations

(49:02) Expanding alternative investment access to the masses

(51:27) How to stay connected with CAS and final thoughts

Jake Paul and Joey Levy, Co-Founders of Betr, sits down with David Weisburd to discuss Jake Paul’s bold vision for the future of sports betting and how the company seeks to become the market leader in the space.

(0:00) Introduction and Jake Paul's ambitions in boxing and business

(2:28) Jake Paul's drive and the vision for his sports betting company

(5:53) The competitive edge and role of psychedelics in business leadership

(7:37) Marketing strategies and the partnership with Joey Levy

(12:22) Values, commitment, and the unique value proposition of Better

(16:23) Expanding markets and customer acquisition strategies

(21:49) Efficiency in marketing and monetization

(25:04) Better's financial performance and product initiatives

(27:31) The journey to a $100 billion company and what drives Joey Levy

(31:43) Entrepreneurship reflections and concluding remarks

(32:26) Sponsor: [Insert Sponsor Name]

Dean Duchak, Chief Investment Officer at KFF sits down with David Weisburd to discuss the lessons learned from 13 years at KFF, how to create a culture of collaboration in endowments, and Dean’s perspective on diversifying investment strategies.

(0:00) Introduction to $700 million endowment and venture capital allocation

(1:27) Overview of KFF and asset allocation strategies

(3:46) Correlation between assets and macroeconomic trends

(7:07) Thematic investing in healthcare and AI

(8:29) Sponsor: Carta

(9:21) Leveraging GP relationships for investment insights

(10:27) Daily portfolio management activities

(15:14) Strategies for managing a $700 million endowment

(20:47) Challenges of illiquidity in venture capital

(22:24) Persistence of returns and tax policy impact

(24:29) Navigating through different market cycles

(26:16) Timing and diversifying the venture market

(29:43) Exploring new asset classes and investment processes

(31:27) Key lessons from 13 years at KFF

(33:09) Developing skills for new institutional investors

(35:54) The role of networking in investment success

(36:50) Closing remarks and sponsor message

David Sawyer, Chief Operating Officer & Managing Partner at Legacy Knight : Multi-Family Office sits down with David Weisburd to discuss the top mistakes investors make in GP stakes, why middle-market GP stakes could be a game-changer for investors, and how GP stakes outperform traditional investments in 2024.

(0:00) Introduction to Legacy Knight and competitive landscape

(0:24) Overview and explanation of GP Stakes investing and Legacy Knight's dual platform

(1:04) Flexibility in advising families and limitations of big banks

(2:39) Drivers and succession planning in GP stakes sales

(5:26) Management fee revenue and deal quality in GP Stakes

(7:38) Underwriting LP re-up rates and diligence processes

(10:01) Differences between GP Stakes and other fund investments

(11:11) Revenue streams and financial targets in GP Stakes

(17:03) Downside protection strategies and base case scenarios

(18:38) LP preferences and role of investment bankers in GP stakes

(19:21) Sponsor: Carta

(20:07) Common mistakes and valuation metrics in GP stakes

(23:23) Trends and market differences in GP stake sales

(26:11) Trends in preferred equity and value addition by GP stakes funds

(28:31) Fundraising assistance and due diligence in GP stakes

(31:01) Banks' involvement and market correlation errors in GP stakes

(32:31) Fragmentation and opportunities in the GP stakes market

(35:18) Exit strategies and market performance in GP stakes

(36:28) GP stakes across asset classes and infrastructure investments

(38:42) Advantages of GP stakes and market innovation

(40:08) Portfolio construction evolution in GP stakes funds

(41:18) Deal size relationship with AUM

(42:27) Final thoughts on the GP stakes market

(42:58) Podcast closing and sponsorship information

Ben Challgren, Principal at Top Tier Capital Partners sits down with David Weisburd to discuss what makes a top-performing fund, the surprising role of local managers in European venture success and the secrets to spotting a winning startup before it’s big.

(0:00) Introduction to Ben Challgren and his venture capital insights

(0:04) Risk Management in Venture Capital

(0:09) Evaluating and Selecting New Venture Managers

(0:16) Secrets to Uncovering Top VC Talent

(0:32) Top Tier Capital's Operations and Global Reach

(0:52) The Significance of Local Market Presence

(1:17) Top Tier Capital's Diverse Investment Products

(1:49) Investment Focus: Primary, Secondaries, and Directs

(2:42) Opportunities and Valuation Trends in Secondaries

(4:01) Pricing Mechanisms in the Secondary Market

(5:23) Strategies for Evaluating New Investment Managers

(6:42) Sourcing Talent from Top-performing Companies

(7:45) The Edge of Investing in Startups by Former Successful Company Employees

(8:19) Angel Investing and Supporting Emerging Managers

(9:43) Consistency and Performance in Investment Strategies

(10:01) Client Categories and Sector Fund Considerations

(11:02) The Role of Expertise in Selecting Biotech and Cybersecurity Investments

(12:33) Sponsor: Carta

(13:18) Decision Making for One-time and Long-term Fund Commitments

(14:06) Navigating Relationships and Commitments with Venture Franchises

(15:00) The Importance of In-person Interactions and Team Development in VC

(16:11) How LPs View Investment Portfolios and Early AI Ecosystem Trends

(17:27) Strengthening GP/LP Relationships and Data-Driven VC Decisions

(18:32) Scout Programs, Market Beta, and Benchmarking Performance

(19:55) The Evolution of Fund of Funds and European Investment Strategies

(20:33) Constructing Portfolios to Capture Outperformers in VC

(21:02) Final Reflections on Manager Meeting Criteria

Charles Hudson, Managing Partner at Precursor Ventures sits down with David Weisburd to discuss how to support first-time fund managers, innovative strategies for sourcing deals in venture capital and tips for success on building relationships with limited partners.

(0:00) Introduction and the role of stubbornness in entrepreneurial success

(0:21) Merging cultural trends and storytelling in investment pitches

(1:37) Founding Precursor Ventures and tackling adverse selection

(3:04) Impact of startup experience on founder success

(4:54) Evaluating valuations and portfolio construction at Precursor Ventures

(7:20) Understanding founders' fundraising challenges

(9:30) Navigating between vision and execution in startup pitches

(10:50) Analyzing company growth and total addressable market

(13:00) The relationship between founder feedback and startup success

(14:02) Tracking Precursor's fund performance

(16:03) Sponsor: Carta

(16:49) Strategies for high returns at the pre-seed stage

(18:03) Portfolio size, investment strategy, and the Carrot Fertility case study

(21:08) Leveraging information for early-stage investing

(22:25) The fine line between nonconsensus investing and trend chasing

(24:10) Investment trends and the introduction of Screen Door

(26:05) Insights from being a Limited Partner

(27:13) Differentiation in pitches and investment strategies

(29:53) Sponsor message

(30:01) Discussing TAM expansion and supporting emerging managers

(31:00) Navigating the challenges faced by VCs leaving established firms

(34:36) Assessing the potential of GPs creating their own firms

(35:22) Personal career growth and industry insights

(37:03) Experiences and lessons from chairing the NVCA

(38:30) Conclusion, contact information, and call for sponsors