Margaret Chen discusses why fund manager capacity and access are not constrained by a fixed pool of elite managers.
Opinion
Early financial success blinds young institutional trustees to their own inexperience
“There's so many of even our peers who earn so much wealth at a very young age. Instead of going through the training program and going through the apprentice, you know, everyone says yes to you because you have been so successful so early.”
Insight
The initial liquidity phase is critical when managing spend-down portfolios
“The most important concept that I always wanted to, you know, make sure we protected against was the first phase, whatever that is, one, two, three, five, whatever that first phase is, is the absolute most important critical phase. Because if you don't get tha…”
Disclosure
Cambridge Associates lets fund managers decide how to allocate limited client capacity
“So the mechanism is pretty straightforward, and that has to do with, you know, we ensure we're compliant too, but the manager decides. So that fund, the GP, decides who ultimately, as the manager does for any client outside of Cambridge or, you know, within Ca…”
Prediction Held up
The OCIO industry and its service models will consolidate by 2028
“If we looked up five, 10 years, I'd say we're in the early innings in the sense of there will be consolidation in the industry. And there also, there will be a consolidation of models, you know, in terms of, you know, what clients want in terms of their OCIO p…”
Insight
Great investment ideas are useless without stakeholder buy-in
“Management consulting is actually excellent for process and being able to take a institution or a group of people through a decision, you know, and so, Advocating for a recommendation. Those are really important skills because you have, you can have the most f…”
Disclosure
Nearly one-third of Cambridge Associates OCIO clients have SRI mandates
“Almost a third of them have some sort of unique, what folks would call a mission oriented SRI, you know, as whether it's minority managers or whether it's environmental.”