Jenkins: Back managers who sacrifice their own economics for LPs
Meredith Jenkins · Meredith Jenkins – A Path to Trinity (Capital Allocators, EP.31) · Nov 13, 2017 · at 17:26
Meredith Jenkins, CIO of Trinity Wall Street and former Carnegie Corporation investor, explains how institutional allocators evaluate manager alignment when deciding to back managers through tough periods.
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“And the other circumstances, you know, that, that tended to work out back to sort of the alignment is the, when we could point to examples of when a manager did something that was either personally or economically painful to them in their firm to do right by their LPs or their investors. And so, you know, didn't take the carry for a long time, even though by rights in the document, they could have taken the carry.”
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