Maul: In 2008, Carnegie's private portfolio faced capital calls without distributions
Elisa Maul · Training Grounds – Carnegie Corporation of New York (EP.377) · Apr 1, 2024 · at 17:00
Elisa Maul, former managing director at Carnegie Corporation of New York, describes interviewing with CIO Ellen Schumann during the 2008 financial crisis.
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“This was oh eight, and distributions had just totally stopped. She showed me this chart of the private portfolio. Of what should be a self-funding portfolio with capital calls matching distributions. And the chart was wildly out of whack because calls had continued and distributions had dried up.”
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