Chris Heller
person on 1 show · 11 statements across 2 episodes
On the record as a speaker too: Chris Heller across every show, appearances and statements → this page counts the times other people say the name.
11 statements about Chris Heller, every show
Siloed deal sourcing fails when investing across disparate niche alternative assets
“It's not like we can send people off in their own little silos to go find deals and come back and put them in the portfolio because they're so disparate and so different.”
Heller: If a business is easy, others will arbitrage the opportunity away
“If you start something that's easy, other people will come quickly and arbit away. The struggle is the moat. It is what keeps the value in whatever you've started.”
Only one of Cordillera's initial 300 target LPs invested at launch
“Of that list, I think it was close to 300, one of those people actually invested in our business.”
Intellectual thinkers who espouse compelling theses often cannot run operating businesses
“Sometimes these deep philosophical thinkers are not always the right people to run business. They can usually espouse a really interesting view, but they can't run businesses.”
Heller: Initial work product quality strongly predicts management's execution success
“The quality of a work product that comes out of an individual or a group is highly correlated With their success executing whatever they're going to do.”
The best operators always leave behind an easily discoverable wake of superfans
“The best people in the world in any industry always leave behind a wake of superfans. People that just love them, are shouting from the rooftops about them, and it's not hard to find them. When you have to really search to find someone to give a reference, or …”
Heller: Niche alternatives exploit the gap between perceived and actual risk
“And I think our original supposition and now bolstered by 10 years of being in this business is that that's not actually the case. Now, there are absolutely risky things in this niche space, and there are lots of things that you don't want to invest in, but wh…”
Heller: Most PE firms lack time to source and structure niche assets
“I mean, we have to spend a lot of time to find these things. We have to spend a lot of time to structure these things. We have to spend a lot of time to understand these things. And I think it's something that a lot of other Private equity firms, asset manager…”
Heller: Niche strategies covered in books or blogs are likely too crowded
“I think the moment there's a book or a blog about something we're doing, it's likely not for us.”
Heller: Litigation investments take far longer to liquidate than anticipated
“Like, I think the big takeaway, whenever somebody asks me, because we've done lots of things in litigation, what is your takeaway? It's that they take forever. And it takes way longer, no matter where you are in that space. It just generally takes longer to ge…”
Heller: Cordillera requires viable exit markets to exist at underwriting
“When we underwrite a deal, we have to know exactly that there's a viable market to exit that deal today. It can't be, hey, look, this is a great idea. Let's invest in it now and figure out if five years, six years down the road, something will develop to sell …”