Money Maze Podcast

Among the world's super-allocators sits a Canadian institution whose scale and investment approach are a powerful counterpoint to the passive-rules-all narrative. 

Managing nearly $900 billion, CPP Investments is also one of the world's largest allocators to hedge funds, an area many of its peers have been reluctant to embrace. 

In this episode Heather discusses the changed topography of the Hedge Fund World. She explains their approach to diversification, conviction, manager selection, liquidity, fees and how CPP calibrates risk  

She discusses how this allocation is married within the total portfolio, their red lines, why a manager might be included or excluded and the usual length of investment once made.

The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management*, IFM Investors, World Gold Council and LSEG.

*During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

We are releasing as episodes, two panels from the recent Money Maze Allocator Summit. 

This, the second invitation-only event we have held, gathered some of the world's most significant allocators at the London Stock Exchange for two days of intense discussions and debates. 

The agenda ranged from Re-militarisation, the Future of Healthcare, Blockages and Remediations in the World of P.E. to the Golden Age of Absolute Return and Fixed Income in the Crosshairs, and many more.

When we polled the audience, this episode ranked above all others, in which Peter Frankopan, Head of Global History at Oxford interviews Sir Anthony Seldon, one of the UK's leading educationalists.

Both are former guests, and in this exchange, Sir Anthony offers his unambiguous views on why we fail our children, what needs to change, how we must think about better equipping all children for the future and which countries and approaches are leading the way.

Watching this might be even better than listening!

The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management*, IFM Investors, World Gold Council and LSEG.

*During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

If you are a West Coast based tech start-up, profiled in the Wall Street Journal, Forbes, and Business Insider, are asked to present at JPMorgan's Investor Summit alongside Jamie Dimon, are backed by Google's AI fund, and have a mission to help organizations detect and correct biased or unreliable outputs from AI models and you are not yet 24, something’s going on! 

So today the Money Maze meets its youngest guest, Cyril Gorlla, founder of CTGT. Joining as a co-interviewer is J.P. Morgan Asset Management's Head of Investment Platform, Kristian West. 

In an extremely complex area, Cyril discusses 8 key items; 

The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management*, IFM Investors, World Gold Council and LSEG.

*During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

Today we welcome a reappearance of author Simon Sebag Montefiore.

These few lines set the tone for an outstanding book and brilliant guest:

“But even in easier times, the Middle East has the ability to surprise even the most informed observers and intelligence maestros. After all, the experts failed to predict the emergence of Turkey in 1922, the crowning of Reza Shah in Persia in 1925, the creation of Israel in 1948, Gamal Abdel Nasser’s Suez gambit in 1956 and his union of Egypt and Syria in 1958, Israel’s victory in 1967, the fall of Shah Mohammad Reza Pahlavi and rise of Ruhollah Khomeini, 9/11, the Arab Spring, October 7, 2023, Midnight Hammer, and much that has followed.”

The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management*, IFM Investors, World Gold Council and LSEG.

*During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

John Claisse explores the evolution of alternative investing, from private markets and hedge funds to AI, digital assets, due diligence and opportunities across Asia.

Albourne has expanded from its genesis in Sussex in 1994, to one of the most recognized global investment advisors in the world of alternatives. It is unusual both as an employee-owned organisation, and because it has adhered to its original vision of advising only and never to manage capital. 

John Claisse frames the alternative industry today. He discusses institutional priorities, the change in allocating behaviour, the secular shift of retail flows into private assets, and what clients want across the alternative assets spectrum. 

He discusses private equity and private credit trends in light of the current malaise, and why he expects further growth in these asset flows in the years ahead.  He weighs some of the investment dilemmas facing allocators, why Hedge Fund interest is strong, why digital assets are being increasingly scrutinised for their potential appeal, and where investment allocations might be headed. 

*Please note that at the 53:00 mark, Simon Sebag Monetfiore's upcoming book is mistakenly titled The Crucible. The correct title is The Cauldron: The Making of the Modern Middle East

The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management*, IFM Investors, World Gold Council and LSEG.

*During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

He also explains why the competitive landscape has changed, why new entrants will find it much harder, the opportunity with retail-in-flight, the extraordinary partnership with American Express via Sky Miles, and the reason why future returns might well be higher than those of the past. ‍

The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management*, IFM Investors, World Gold Council and LSEG.

*During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

It is already changing how firms conduct research, construct portfolios, manage risk, and make investment decisions. 

In this special compilation episode, we bring together three perspectives from across public markets, hedge funds and private markets, to explore how AI is transforming investment management today and where it may lead tomorrow. 

Andrew Veglio, founder and CEO of Vantage Investment Management, examines where AI sits in the evolution of technologies and argues the end game is replacement not improvement of much of what we, as investors, do. 

Kristian West, Head of Investment Platform at J.P. Morgan Asset Management discusses how they are embedding AI across their global investment platform, sharpening research, investment process and execution.  

Then Lucia Soares, Chief Information Officer and Head of Tech Transformation, shares how Carlyle is using AI to accelerate decision-making, improve portfolio and risk management, and create value across its portfolio companies. 

Together, they discuss AI's impact on alpha generation, research, trading, portfolio construction, productivity, and the implications for the role of human judgement in our investing world.

The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management*, IFM Investors, World Gold Council and LSEG.

*During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

He discusses the footprint, asset mix and culture which Nuveen offers and how the combined group will manage $2.5tn, becoming one of the world’s largest active managers.  

He explains why public markets are essential, how AI is being implemented in their business, the important Asian opportunity, and why benchmarks can provide the wrong skew in understanding risks.   

The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management*, IFM Investors, World Gold Council and LSEG.

*During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

In the world of global credit and event-driven investing, there are few firms that have been both quietly competitive, whilst simultaneously successful and long-standing.  

Founded over 40 years ago, Davidson Kempner may not be a household name, but they have navigated cycles by identifying the opportunities which emerge from dislocations, and complexity when the power between borrowers and lenders shifts.  

In this conversation, we discuss if it’s possible to assess where we are in the economic cycle. Tony then disentangles the term “private credit” and explains where he believes blockages and problems exist.  

He talks about the interdependence of private equity and private debt, and why he thinks the market may be underestimating the time needed to work through these issues.  

He explains where he sees capital is as scarce and where it has been abundant, and what that means for risk-taking.  

Finally, he discusses why Europe may have less growth but has many opportunities, why lending in India appeals, and most interestingly why we may be in “a golden age of absolute return.” 

The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management*, IFM Investors, World Gold Council and LSEG.

*During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.

In a world where investment classification rules supreme, Sixth Street believes that its flexible architecture, approach, and culture make the firm different. 
  
Sixth Street, founded in 2009, manages more than $130 bn, suggesting flexible capital unlocks opportunities in a world that never stands still.  
  
Sixth Street’s Partner, Co-President & Co-CIO Julian Salisbury is a veteran of 25 years at Goldman Sachs, including former head of its asset management and merchant banking businesses.  
  
Julian discusses how Sixth Street works as One Team with a shared mission to deliver the best investment opportunities for its investors, as well as Sixth Street’s priorities when identifying and sourcing opportunities, industry preferences, timelines, and exits.  
  
He then explores the conundrum of growing assets and preserving alpha and reflects on current obstacles in the private markets.

He also describes “the complexity premium,” changes in the world of direct lending, calibrating risk in an untraditional fund structure and private markets, and more.

The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management*, IFM Investors, World Gold Council and LSEG.

*During the episode we cite J.P. Morgan Asset Management as Europe’s leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.