In this conversation we discuss both the changing nature of demand for alternative assets as well as their supply. Matt explains how CAIS is creating the bridge between the alternative investment firms and the wealth management community, whose portfolio allocations to these investments are a fraction of their institutional counterparts.

Matt discusses the size of the market opportunity, how technology is enabling this rapid transition, and helping solve the problem of unequal access to alternatives.

He talks about branding within this space, competition, regulation and how Mercers are providing core due diligence to introduce independence to the arena. The discussion then moves to how investors are re-appraising the traditional 60/40 allocation to bonds and stocks, to incorporate a wider portfolio including alternative investments.

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The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, and LiveTrade.

We’re also pleased to be highlighting & supporting GAIN as our 2023 Charitable Partner. 

RELATED IN-PERSON EVENT: On 16th-18th October, CAIS will be hosting its second annual  Alternative Investment Summit in Los Angeles, at the Beverly Hilton.  The event will attract over 500 independent financial advisors, along with some of the biggest names across alternative asset management, including Apollo, Ares, Carlyle, Franklin Templeton, Partners Group.

In the world of alternative assets, TPG almost needs no introduction. Founded in 1992 by Jim Coulter and David Bonderman, today they manage a towering $139bn in alternative assets (as of 30/06/23). Less well-known is their significant push into backing and investing in the next generation of underrepresented alternative asset managers.  

In this conversation, Pamela Pavkov (Partner & Head of TPG NEXT) and Anilu Vazquez-Ubarri (COO), discuss the opportunity to invest with and address what CEO John Winkelried highlights as “the lack of diverse people sitting in the capital allocation seat.” 

TPG, along with CalPERS (who are providing $500m of financing), are deploying new capital in an area they believe offers significant potential returns, via their new TPG NEXT unit. 

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The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, and LiveTrade. We’re also pleased to be highlighting & supporting GAIN as our 2023 Charitable Partner. 

Just as the Nasdaq was launched in 1971 to automate the market for securities which were not exchange-listed, so in 2013 the Nasdaq Private Market was created to help solve private company liquidity.

Tom discusses how the introduction of the JOBS Act during Obama’s reign accelerated the need to have a market place for buyers and sellers to meet, as well as supporting price discovery & settlement. 

Tom explains their growth, rationale, technology and trajectory and why they were spun off in 2021 . He discusses their cornerstone investors and how employees of private companies to early VC backers stand to gain from increased transparency and liquidity.

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The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, and LiveTrade. We’re pleased to also be supporting GAIN as our 2023 Charitable Partner!

DISCLAIMER:

NASDAQ PRIVATE MARKET, LLC IS NOT A REGISTERED EXCHANGE UNDER THE SECURITIES EXCHANGE ACT OF 1934. NASDAQ PRIVATE MARKET IS OPERATIONALLY INDEPENDENT AND DISTINCT FROM THE NASDAQ STOCK MARKET LLC. SECURITIES-RELATED SERVICES ARE OFFERED THROUGH NPM SECURITIES, LLC, A MEMBER OF FINRA AND SIPC. NONE OF THE INFORMATION PROVIDED REPRESENTS AN OFFER TO BUY OR SELL, OR THE SOLICITATION OF AN OFFER TO BUY OR SELL, ANY SECURITY, NOR DOES IT CONSTITUTE AN OFFER TO PROVIDE INVESTMENT ADVICE OR SERVICE. INVESTING IN PRIVATE COMPANY SECURITIES IS NOT SUITABLE FOR ALL INVESTORS. IT IS HIGHLY SPECULATIVE AND INVOLVES A HIGH DEGREE OF RISK.

We are delighted to welcome KKR, and its Co-Head of European Private Equity, Philipp Freise, onto the show.

Philipp discusses his wide and impressive education, his journey through management consulting at McKinsey, and a dotcom adventure as an entrepreneur, before joining KKR over 20 years ago.

KKR today is a leading global investment firm with $510 billion of assets (as of 31/03/23), invested across multiple alternative asset classes, including private equity, infrastructure, real estate and credit.

The conversation begins with Philipp deciphering the European paradox posed to him; namely reconciling European economic sclerosis, political dissension, energy disruption, and one-size-fits-all monetary policy, with his statement that it’s “never been more interesting to invest in Europe”.

He answers emphatically that entrepreneurial capital is needed in Europe, and why private equity offers that. He explains that with the preponderance of privately owned companies in Europe, public markets do not offer the core of the solution.

He provides specific examples of companies in which they have invested, from e-biking to supply chain software solutions, and why attitudes to private equity in Europe have changed dramatically over the last twenty years.

He discusses KKR’s track record, the imperative for portfolio diversification, their thematic and sector priorities and why private equity is woven into the fabric of business today (an observation not always understood). Originally recorded in August 2022.

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 The Money Maze Podcast is kindly sponsored by Schroders, Bremont Watches,  and LiveTrade. We’re also pleased to be highlighting & supporting  GAIN as our 2023 Charitable Partner.

In today’s episode, the Money Maze Podcast takes a short trip back to summer 2022 in light of the upcoming release of our second Private Markets Miniseries! 

Last year, we released our first season, delving deep into the far reaching ramifications of the industry, and sharing fascinating conversations with guests from the likes of Schroders Capital, Petershill Partners, KKR, Bain Capital, Permira, and CD&R. 

We have compiled together some of the highlights from those episodes, discussing alternative assets, branding & consumers, as well as geographical and sector considerations. Also discussed are some key examples of high profile acquisitions, including CD&R's £7bn takeover of Morrisons, and Permira's £300m buyout of Dr. Martens.

Season 2 of Private Markets starts next week, and the 6-part series will run until October. You can listen to both seasons via www.moneymazepodcast.com/series/private-markets. Season 1 was originally recorded in Summer 2022.

The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, and LiveTrade. We’re also pleased to be highlighting & supporting GAIN as our 2023 Charitable Partner. 

We last spoke about gold on the show 3 years ago, with Evy Hambro, who runs the BlackRock natural resources team. The discussion highlighted that paper currencies have a 100% track record of losing purchasing power, whereas gold has a 100% record of permanence.

In this conversation, we ask Randy Smallwood to address several important issues around gold. His perspectives on supply and demand, lessons from history, current central bank actions and why he recently observed that “gold is in a perfect position right now”.

We then discuss currency debasement, gold’s role in portfolios, and how to own and access it, as well as the potential for tokenisation. Randy then discusses the investment parameters around mining stocks and how streaming companies such as Wheaton Precious Metals where he is CEO, offer a different way of investing in the gold universe.

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The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, and LiveTrade. We’re also pleased to be highlighting & supporting GAIN as our 2023 Charitable Partner. 

In the third and final episode of our 'July With Jen Series', guest hosted by Jen Prosek, we welcome Mike Pompeo onto the show. Mike is the only man to ever have served as both the US Secretary of State (2018-21) and CIA Director (2017-18).

In this episode, Mike and Jen have a riveting conversation, discussing a range of key geopolitical topics, such as; US-China relations, what to expect from the Ukraine/Russia conflict in light of the recent mutiny, and his hopes for the future of the United States.

He goes on to defend the recent history of US interventionism in the Middle East  - suggesting that it was underpinned by just intentions - before explaining how his experience in business prior to politics helped him truly understand the USA's unique economic advantages.

In addition, Mike discusses how his faith has impacted his outlook on the world, why he preferred working as Director of the CIA over being the Secretary of State under Trump, and how the US media should focus on policy - not just personalities - in its election coverage. 

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The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, and LiveTrade. We’re also pleased to be highlighting & supporting GAIN as our 2023 Charitable Partner. 

In the second episode of our ‘July With Jen’ miniseries, we welcome two leading entrepreneurs on the show for a varied discussion on the US economy, geopolitics, tech and more.

The episode brings together Joe Lonsdale, Managing Partner of 8VC and Co-Founder of Palantir, and Thomas Tull, Founder of Tulco LLC and Former CEO of Legendary Entertainment. The discussion is moderated by Jen Prosek, Founder of Prosek Partners, who is kindly guest hosting the podcast this month.

The two entrepreneurs offer some thoughtful insights on emerging technologies, AI, synthetic biology, the private and public sectors, as well as the rise of China and America’s response. They also discuss the impact of COVID-19 on supply chains & manufacturing, philanthropy, and leadership. 

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The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, and LiveTrade. We’re also pleased to be highlighting & supporting GAIN as our 2023 Charitable Partner. 

In this episode, we welcome Lynn Martin, the second woman in history to run the New York Stock Exchange (NYSE). 

The session is moderated by Jen Prosek, Founder of Prosek Partners, who is kindly guest hosting the podcast this month. Lynn enlightens Jen on her experience as the 68th President of the NYSE, and her navigation of an often-male dominated field. 

The two also discuss the IPO market, what makes a company ready for public markets, ESG, and board diversity. Lynn also offers insights into emerging technologies, AI, and the importance of creating accessible courses for young girls. 

We are proud to have Lynn as a guest on the show, discussing the importance of creating opportunities for young women to break into and grow within male dominated fields. The Money Maze Podcast is also now in partnership with, and supporting GAIN - Girls Are Investors, as our 2023 Charitable Partners! 

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The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, and LiveTrade. 

Oscar Wilde defined a cynic as someone who knew the price of everything, and the value of nothing. In today’s episode, we discuss value investing with David Einhorn, Founder and President of Greenlight Capital. 

David talks about the irreparable damage caused to the value investment industry, passive investing, returns, and bonds trading. He also discusses index and short investments, as well as undervalued products. 

This episode is an excerpt from the session recorded at the London Value Investor Conference in May. Many thanks to the LVIC team for allowing us to share this content for free! Find out more about their upcoming sister conference, the Quality Growth Investor Conference, here. 

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The Money Maze Podcast is kindly sponsored by Schroders,  Bremont Watches, and LiveTrade. We’re pleased to also be supporting GAIN as our 2023 Charitable Partner!