Scott Malpass

Managing Partner, Grafton Street Partners · 1 appearance on the record.

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For 32 years, Malpass served as Chief Investment Officer of the University of Notre Dame, growing its endowment from roughly $400 million to over $14 billion. Following his retirement, he co-founded investment firm Grafton Street Partners and serves on major corporate and institutional boards, including Vanguard.

35statements → 12claims → 6claims resolved → 50%fully supported → 3.94/5average certainty → 2.03/5average debate potential → ≈4.0/5argument clarity, estimated → 20said about them ↓

3 supported 2 partly supported 1 contradicted 1 not yet assessed 5 not checkable as stated how the 12 claims stand · each chip opens the sources

1 prediction · 11 assertions · 5 opinions · 6 insights · 12 disclosures · every statement was checked. The prediction and assertions are the 12 claims: statements the public record can support or contradict. 6 are resolved, 1 is not yet assessed, and 5 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Scott argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported

Notre Dame's entire core endowment investment team consists of alumni

“All of the core investment team are Notre Dame alumni.”

Scott Malpass Sep 18, 2017 ▶ 10:19 Scott Malpass – The Fighting Irish's Twelfth Man (Capital Allocators, EP.25)

Their most notable contradicted claim

Assertion Contradicted

Malpass estimates that 80% to 90% of unicorn startups fail

“You know, I think the data shows that 80 plus percent, maybe 90% of unicorns don't make it, so I don't get too high and fired up.”

Scott Malpass Sep 18, 2017 ▶ 37:49 Scott Malpass – The Fighting Irish's Twelfth Man (Capital Allocators, EP.25)

Expressed certainty vs assessment result

none yet certainty 1

none yet certainty 2

25% certainty 3

75% certainty 4

100% certainty 5

weighted support: a fully supported claim counts one, a partly supported claim counts half. Each filled bar is clickable and opens exactly those claims; "none yet" means nothing said at that certainty level has resolved yet

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Scott Malpass on measured tape to publish a rate. This says nothing about how they speak.

What they said35 What others said20 Episodes1

Everything Scott Malpass said on Capital Allocators that made the record, most notable first. Filter by type, assessment or year in the ledger →

Disclosure

Notre Dame sizes private fund commitments based on absolute downside risk tolerance

“I look at almost any private fund, how much can we afford to lose? I know that's probably Too conservative, to be honest, because we do such a great job of getting the right people, but I do think of that. So we probably could be a little more aggressive there…”

Scott Malpass Sep 18, 2017 ▶ 1:05:27 Scott Malpass – The Fighting Irish's Twelfth Man (Capital Allocators, EP.25)

Assertion Supported

Notre Dame's endowment rebounded from under $6 billion post-crisis to $12 billion

“We went a little over seven billion pre-crisis to high fives, and now we're at 12.”

Scott Malpass Sep 18, 2017 ▶ 15:35 Scott Malpass – The Fighting Irish's Twelfth Man (Capital Allocators, EP.25)

Disclosure

Notre Dame strictly limits direct real estate investments to nearby Chicago

“In our size, look, we're not going to have 10 of those in our portfolio, and Chicago's a great market for us. We wouldn't probably do that anywhere else, or it'd be very limited because it's so close to us.”

Scott Malpass Sep 18, 2017 ▶ 17:38 Scott Malpass – The Fighting Irish's Twelfth Man (Capital Allocators, EP.25)

Assertion Not checkable as stated

Notre Dame is one of Sequoia Capital's largest domestic investors

“Now we're, you know, one of the largest investors with Sequoia in the country, and it's been a fabulous friendship and partnership.”

Scott Malpass Sep 18, 2017 ▶ 19:19 Scott Malpass – The Fighting Irish's Twelfth Man (Capital Allocators, EP.25)

Disclosure

Notre Dame's endowment is doing record amounts of PE and real estate co-investing

“We do more co-investing in real estate and private equity than we've ever done, you know.”

Scott Malpass Sep 18, 2017 ▶ 22:12 Scott Malpass – The Fighting Irish's Twelfth Man (Capital Allocators, EP.25)

Assertion Partly supported

Notre Dame's endowment grew from $400 million to over $12 billion

“Like I said, I was, it was four hundred million dollars when I started. Now we're, our pool's over twelve billion.”

Scott Malpass Sep 18, 2017 ▶ 23:13 Scott Malpass – The Fighting Irish's Twelfth Man (Capital Allocators, EP.25)

Disclosure

Public equity represents roughly 40% of Notre Dame's endowment portfolio

“So our public equity bucket, which includes long short equity, is about 40%. But long short's about 10%, so a quarter of that.”

Scott Malpass Sep 18, 2017 ▶ 26:26 Scott Malpass – The Fighting Irish's Twelfth Man (Capital Allocators, EP.25)

Disclosure

Notre Dame uses passive ETFs temporarily for tactical exposures and transitions

“We'll do some passive ETFs temporarily when we're looking at exposures or transitioning some managers, or we might have a theme we want to put in place that's opportunistic for a shorter period. We've done some of that, and we'll continue to do that, and I act…”

Scott Malpass Sep 18, 2017 ▶ 30:05 Scott Malpass – The Fighting Irish's Twelfth Man (Capital Allocators, EP.25)

Disclosure

Notre Dame builds relationships with distressed managers well before market collapses

“We're talking with managers now that we won't use until the next collapse. But when that happens, we'll be ready, they'll be ready, and we'll be able to put a lot of capital to work.”

Scott Malpass Sep 18, 2017 ▶ 32:02 Scott Malpass – The Fighting Irish's Twelfth Man (Capital Allocators, EP.25)

Disclosure

Pope Francis appointed Scott Malpass to the Vatican Bank board in 2016

“I, I'm, I serve on the board of the Vatican Bank, I think you might know. I was appointed by Pope Francis to that last year.”

Scott Malpass Sep 18, 2017 ▶ 1:20:52 Scott Malpass – The Fighting Irish's Twelfth Man (Capital Allocators, EP.25)

Assertion Supported

Malpass became Notre Dame's endowment CIO at age 26 in 1989

“So in April of 89, I became CIO at age 26.”

Scott Malpass Sep 18, 2017 ▶ 8:16 Scott Malpass – The Fighting Irish's Twelfth Man (Capital Allocators, EP.25)

The other half of the tape: Scott Malpass's own voice is left out of every number here. Other people bring the name up 18 times in 10 episodes on Capital Allocators. 2 statements on the record name them. every mention, with the transcript →

Who brings them up most Ted Seides 4 Baroness Dambisa Moyo 3 Michael Mauboussin 2 Margaret Chen 2 Ellen Ellison 2 Bill Spitz 2 Muthu Muthiah 1 Kip McDaniel 1

Statements about Scott Malpass, by other people (2)

Insight

Ellison: Leadership turnover is deadly for institutional endowment performance

“I think turnover is deadly in our business, and so to the extent that you can keep Leadership and strategy intact and going for at least a decade, and in Scott's case, what, three decades? I mean, it's amazing.”

Ellen Ellison Oct 2, 2017 ▶ 46:42 Ellen Ellison – Playing to Your Strengths (Capital Allocators, EP.27)

Prediction Didn’t hold up

McDaniel predicts Scott Malpass will never leave Notre Dame

“Some people, Scott Malpass, will never leave Notre Dame. He's in his dream job.”

Kip McDaniel Aug 7, 2017 ▶ 14:04 Kip McDaniel – CIO Whisperer (Capital Allocators, EP.20)