Today’s guest is David Burt, the CEO and Founder of DeltaTerra Capital and the lead Portfolio Manager for DeltaTerra funds. DeltaTerra provides proprietary financial models, customized portfolio analysis, and unique hedging strategies that enable highly informed climate risk management for asset owners and investors.

Before founding DeltaTerra, David was a Partner and Portfolio Manager at Wellington Management Company. Prior to Wellington, he built investment processes at BlueMountain Capital, AlderTree Capital (a 2006 startup he founded to bet against the mortgage credit bubble), BlackRock Financial Management, and State Street Research and Management. He began his career as a Real Estate Economist at Property & Portfolio Research, Inc. David has spent 22 years applying his imagination, synthesis talents, and quantitative skills to help institutional investors get the most out of their real estate and structured finance investments. David has been a CFA charter holder since 2002 and received a BS in Mathematics, with a minor in Economics, from MIT in 1997.

In today’s episode, we cover:

• Overview of DeltaTerra Capital
• Dave’s background, and what led him to identifying this opportunity and pursuing it
• Dave’s role in the mortgage backed securities market and The Big Short.
• How Dave thinks about purpose and where hedge funds fit in
• The importance of investing in the clean energy transition, and Dave’s bet for what will accelerate that transition the most
• How much exposure asset owners and investors have to climate risk, and in what forms
• How DeltaTerra will help, the business model, and the types of clients it will serve
• What else will help facilitate this transition, beyond DeltaTerra’s work

Links to topics discussed in this episode:

• DeltaTerra Capital: https://deltaterracapital.com/about
• The Big Short: https://en.wikipedia.org/wiki/The_Big_Short_(film)
• mortgage backed securities: https://www.investopedia.com/terms/m/mbs.asp
• Blackrock: https://www.blackrock.com/
• Wellington Management: https://www.wellington.com/en/
• Fannie Mae: https://www.fanniemae.com/portal/index.html'
• Freddie Mac: http://www.freddiemac.com/

You can find me on twitter @jjacobs22 or @mcjpod and email at [email protected], where I encourage you to share your feedback on episodes and suggestions for future topics or guests.

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*Editing and post-production work for this episode was provided by The Podcast Consultant