pension plan

“Typically what happens is that money goes from a saver to a big asset owner, like a pension plan or an endowment or a sovereign wealth fund, to an asset manager through the publicly traded capital markets into a publicly listed company. In that process, that l…”

“What I found is that, as you know, they're very different investors than pension plans. They're not pension plans. They tend to be much longer term. They tend to be more interested in Total return than other issues like fitting things in boxes and some things …”

“So I'd been trying to build more long-term strategy within our pension plan, but those plans are long cash and short human capital, so it was difficult to get the origination capabilities that we needed And probably more importantly, the value creation and ass…”

“Often, pension plans have ended up in the so-called no regrets, fifty-fifty hedge half approach, which really doesn't make sense.”

“We work with some advisors that I think are more sophisticated than some of the big sovereign wealth funds and pension plans we work with. On the flip side, we work with some advisors that have never allocated to anything other than public equity and public fi…”

“I don't know any plans today that are really good at valuing their private assets. It's incredibly difficult to bring real-time valuation into venture capital, private equity.”

“I have found that pension plan investors, people who don't have a lot of upside, if I make 10 times money for you don't get paid anymore. Your job is hard because you work in an environment that can be bureaucratic, political, disrespectful. Can be. Not all pe…”