Swimming with Allocators

Mastering Venture Capital in Public Pensions with Tony Meadows


Listen Later

Highlights from this week’s conversation include:

  • Tony's background and entry into institutional investing (1:26)
  • Approaching co-investments and the process at PSERS (3:16)
  • Manager selection process and portfolio construction (6:07)
  • Constructing the private equity portfolio (10:45)
  • Timing and relationship with new managers (12:52)
  • Insider Segment: How could emerging managers benefit from general counsel? (15:27)
  • The importance of track record for LPs (16:48)
  • The first female-owned private equity fund (18:22)
  • The GP Selection Process (18:58)
  • Importance of Deal Flow and Proprietary Deal Flow (23:08)
  • LP to LP Relationships (24:42)
  • Consolidation in Distressed Markets (28:59)
  • Final thoughts and takeaways (00:29:42)
  • Tony Meadows, a seasoned Portfolio Manager with over 17 years of experience in investment accounting, research, and management, most recently worked as Portfolio Manager for the Private Equity team at PSERS, one of the world's largest state-sponsored benefit pension funds. In this role, he oversees a substantial portfolio comprising over $7 billion in commitments and a net asset value of $4 billion, strategically diversified across geographies, strategies, and sectors. Tony's impressive professional qualifications include holding the CPA and CAIA credentials, exemplifying his commitment to financial excellence. His core competencies encompass sourcing, evaluating, recommending, and diligently monitoring private equity fund investments and co-investments, complemented by his adeptness in market analysis, due diligence, and risk assessment. Tony's remarkable achievements include pioneering investments in the Japanese and Korean private equity markets, as well as facilitating PSERS' first foray into a female-owned private equity fund. Furthermore, he has played a pivotal role in institutionalizing the co-investment underwriting process, resulting in over 35 co-investment commitments totaling more than $800 million. 

    Gunderson Dettmer is a law firm specializing in providing legal services to the startup and venture capital communities. With a primary focus on technology and life sciences sectors, the firm is known for its expertise in guiding emerging companies through various stages of growth, from formation to financing and beyond. Gunderson Dettmer's comprehensive legal support includes advice on corporate governance, intellectual property, mergers and acquisitions, and venture capital transactions, making it a trusted partner for innovative enterprises navigating the complex legal landscape. 

    Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. Follow along and subscribe at swimmingwithallocators.com.

    The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.


    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

    Learn more about your ad choices. Visit megaphone.fm/adchoices

    ...more
    View all episodesView all episodes
    Download on the App Store

    Swimming with AllocatorsBy Earnest Sweat, Alexa Binns

    • 5
    • 5
    • 5
    • 5
    • 5

    5

    17 ratings


    More shows like Swimming with Allocators

    View all
    This Week in Startups by Jason Calacanis

    This Week in Startups

    1,289 Listeners

    The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch by Harry Stebbings

    The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

    542 Listeners

    Masters in Business by Bloomberg

    Masters in Business

    2,194 Listeners

    Odd Lots by Bloomberg

    Odd Lots

    1,986 Listeners

    The a16z Show by Andreessen Horowitz

    The a16z Show

    1,094 Listeners

    Founders by David Senra

    Founders

    2,162 Listeners

    Capital Allocators – Inside the Institutional Investment Industry by Ted Seides – Allocator and Asset Management Expert

    Capital Allocators – Inside the Institutional Investment Industry

    799 Listeners

    Alt Goes Mainstream: The Latest on Alternative Investments, WealthTech, & Private Markets by Michael Sidgmore

    Alt Goes Mainstream: The Latest on Alternative Investments, WealthTech, & Private Markets

    29 Listeners

    The Logan Bartlett Show by by Redpoint Ventures

    The Logan Bartlett Show

    187 Listeners

    No Priors: Artificial Intelligence | Technology | Startups by Conviction

    No Priors: Artificial Intelligence | Technology | Startups

    143 Listeners

    Joys of Compounding by Colossus | Investing & Business Podcasts

    Joys of Compounding

    97 Listeners

    How I Invest with David Weisburd by David Weisburd

    How I Invest with David Weisburd

    97 Listeners

    BG2Pod with Brad Gerstner and Bill Gurley by BG2Pod

    BG2Pod with Brad Gerstner and Bill Gurley

    490 Listeners

    Uncapped with Jack Altman by Alt Capital

    Uncapped with Jack Altman

    42 Listeners

    Cheeky Pint by Stripe

    Cheeky Pint

    50 Listeners