Mario Giannini
33 statements across 2 episodes · 10 bullish · 13 bearish · 1 people on the record · first statement Jul 18, 2022 by Mario Giannini · said 5 times in 3 episodes since 2024 · across every show →
On the record as a speaker too: Mario Giannini's record, appearances and statements → this page counts the times other people say the name.
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Everything said about Mario Giannini, oldest first
Jul 18, 2022 positive
Jul 18, 2022 negative
Jul 18, 2022
Giannini: Hamilton Lane touches nearly $1T across AUM and advisement
“We are now about 550 people, which doesn't sound very large compared to a lot of companies, but when you're from four, it sounds huge. We are 150, hundred sixty billion under assets under management with another eight hundred billion under advisement, so we're…”
Jul 18, 2022 positive
Giannini: Sector concentration in software is acceptable due to diverse sub-segment dynamics
“Is the sector, when they say they're in infotech or software, it's so vast that the drivers of return, the drivers of what will make, the industry will not rise or fall. The multiples may in the public markets because they lump them in together, but the indust…”
Jul 18, 2022 negative
Giannini: PE hypocritically resists tech and data internally
“To a private equity person, we're the only industry that does not believe technology and data will change the way we operate. And yet we tell every other industry that we buy or control that, oh my god, technology and data are going to change your industry.”
Jul 18, 2022
Giannini: Private investors overemphasize entry valuation to their own detriment
“And so I think from a pricing perspective, we spend so much time on pricing and obsess on it as the only thing that matters, and it just is not. It's important, especially at the extreme. So late last year, especially in some of the high growth areas, you kind…”
Jul 18, 2022 negative
Giannini: Concentration risk is dangerous when driven by single-factor commodity exposures
“I think where you worry about concentration in an industry is where there is one thing that happens. So if I'm concentrated in banks, well, they rise or fall kind of at the same time. If I'm in, natural resources was a big thing. Everyone was in oil and gas fo…”
Jul 18, 2022 neutral
Jul 18, 2022 positive
Jul 18, 2022 negative
Giannini: LP advisory boards are a total waste of time
“I think advisory boards are a total effing waste of time. I have learned nothing. Here's what I've learned. Zero. Advisory boards are a place where LPs want to feel important and feel really good, and GPs want to make them feel important and really good, and s…”
Jul 18, 2022 positive
Jul 18, 2022 bullish
Jul 18, 2022 negative
Giannini: Mid-Sized PE Firms Lag on Seamless Succession Planning
“I think it's the middle size firms where Then we're really going to have to see, because many of those firms really are, at the end of the day, dominated by a couple of people, and I'm not sure that a lot of them are setting up the kind of succession planning …”
Jul 18, 2022
Giannini: Scaling in a growing industry is harder than a corporate turnaround
“What I've learned about a growing company in a growing industry is that it is much harder than a turnaround, oddly enough. A turnaround focuses you on sort of the existential crisis. The problem and the challenges for growing a company is that you have a numbe…”
Jul 18, 2022 neutral
Jul 18, 2022 bullish
Jul 18, 2022 neutral
Giannini: Public market stock movements falsely dictate perceptions of management intelligence
“What I didn't realize, because we're not, I'm not a public company person, is stock price may or may not have anything to do with the underlying company, but it becomes something people look at, and so when it's going up, the company may be doing what it was d…”
Jul 18, 2022 bearish
Giannini: Venture capital is entering a difficult five-year downturn
“That cyclicality has not been changed, and I suspect we're in for a fairly difficult period of time in the venture world. And unfortunately, That takes time. Look at the 2000 and I'm not at all suggesting we're going to be like 2000. I don't think we are, but …”
Jul 18, 2022
Giannini: Hamilton Lane listed as controlled company to prevent activist interference
“We went public as a controlled company. And that means that there's an unequal balance between economic ownership and voting control. And that was a big deal for us. It was a big deal for our clients because what people didn't want is hedge fund X decides, oh,…”
Jul 18, 2022 bearish
Jul 18, 2022 positive
Giannini: Continuation funds are currently used for GPs' better-quality portfolio companies
“Why I think continuation deals are really interesting is that by and large, today, you are seeing the better companies go out in those deals. I think where you worry is when it starts to be, oh shoot, this is so easy, I'm just going to throw out any deal. I do…”
Apr 17, 2023 neutral
Giannini: Private Markets Face a Widespread Lack of Downcycle Experience
“To me, one of the big challenges has been the relative inexperience of a huge, huge segment of the private markets universe, whether it's at Hamilton Lane, whether it's at our clients, whether it's in the general partner community. When you think about people …”
Apr 17, 2023 neutral
Giannini: Private Equity Currently Lacks a Predominant Theme
“One of the curious things about at least this cycle right now is that there really isn't any predominant theme that says, oh, here's an incredible opportunity space like in tech. As John was describing, there are great characteristics behind these industries t…”
Apr 17, 2023 positive
Giannini: Disciplined Portfolio Construction Lags Hype Cycles but Wins Long Term
“There are periods of time when someone who's doing portfolio construction, the way you're hearing here, will underperform because you're not 80% in venture, and venture's having a great time, and everyone goes, how come my portfolio's not up 800%? It's only up…”
Apr 17, 2023 negative
Apr 17, 2023 bullish
Apr 17, 2023 negative
Apr 17, 2023 negative
Giannini: Most institutions lack the resources to pick direct co-investments
“The reality is for most institutions, not all, but for most institutions, they're simply not resourced enough to do co-investments. And so our view is they either ought to do every co-investment that walks in the door and just make sure you do enough of them, …”
Apr 17, 2023 bearish
Giannini: Recent PE Vintages Will Deliver Lower IRRs and Disappointing Returns
“We will have elongated hold periods, which means IRRs are coming down. Now, presumably the public market returns are also coming down from what they were the last five, 10 years. But I think people need to recognize that. I know general partners in particular …”
Apr 17, 2023 negative
Giannini: PE Investors Should Cut Manager Relationships and Concentrate Capital
“I'm not a big believer in the amount of diversification that most of this industry says you got to have. You have to cut back the number of relationships you have and concentrate them on those groups that right or wrong you believe are going to get you through…”
Apr 17, 2023 negative
Apr 17, 2023 bullish
Giannini: Global Economies Face Shallow Recession, Not 2008 Crisis
“I think that inflation peaked a while back and is headed down. I don't know if it'll get down to two percent. I don't think it really matters. I think the most global economies outside of perhaps China are going to go into a recession and it will be a shallow …”
Apr 17, 2023 neutral
Giannini: Active Co-Investor Demand Per Deal Dropped From 50 to 12
“Three years ago, on any deal, there were a 150 people that said they wanted to do a co-invest on that deal. Maybe 50 of them actually ended up answering the phone and doing it, and now it's down to 10, eight, 12. It has very, very significantly shrunk the univ…”