UTIMCO

“Another thing that we've done is we partnered with one of our multi pad hedge funds. They basically spun out their technology and created a separately managed account platform. So us and UTIMCO together basically anchored this new manager, and as a result of t…”

“Our average hedge fund relationship is 10 plus years.”

“I manage the zero beta hedge fund portfolio. It's roughly eleven billion in size.”

“Overconfidence. People who think they can predict the unpredictable. If you've read any books by Nate Silver or Philip Teplot, they call it the hedgehogs. The great storytellers, not the ones who actually assign probabilities and understand that there's uncert…”

“The real unlock when you think of an overall plan like UTIMCO or SWIB, you're implicitly borrowing money at Fed funds plus like 20 basis points.”

“Across a number of lowish sharps, you get a good net final sharp. The overall portfolio sharp can grow from any single PM is .nine, but the overall portfolio is two and a half plus.”

“Derek and I have joked before, you learn more about a manager on three days on Dockside than three years if you invested in a fund. You understand what they do, what their portfolio looks like, how it evolves.”

“It's currently around seven billion of GMV.”

“It's an eighty-eight billion dollar endowment. Manages money for 22 academic and health institutions.”

“We can't grow much more with these multi-managers, A, because they're closed, B, because their liquidity terms are a three-year or five-year slow pay.”

“For the manage account platform, we're not looking for 350 PMs. We're looking for 20 to 30. We're going to do a lot of work on them.”