Matt Botein, former CIO of BlackRock Alternatives, details opportunistic investments made through an internal CIO special-situations allocation.
0:00 / 0:20exact quote · 20.5s
720p mp4 · rendered on demand · StarZero watermark
“We did a wireless spectrum deal with Charlie Ergen and Dish Networks, where he was entering the spectrum auctions for the AWS three band, back to media and communications roots. And we backed a small business, which entered the auction as a small business eligible for big discounts.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
(the analysis reads context, assessments check outside sources). how →
More from Matt Botein
AssertionNot checkable as stated
BlackRock studies showed PE delivered 300 to 400 bps of pure alpha
“First of all, empirically, the private equity industry has delivered a premium. We did these studies at BlackRock, and even when you controlled for Cap selection, industry focus, leverage adjustments, fees. It still delivered, you know, three to 400 basis poin…”
Matt BoteinFeb 25, 2019▶ 50:33Matt Botein – Flexible Investing and Institutional Challenges (Capital Allocators, EP.88)
Insight
Opportunity Zone challenge is finding deals, not raising capital
“I think the opportunity zone thing, the challenge is going to be finding good deals, not finding capital.”
Matt BoteinFeb 25, 2019▶ 45:06Matt Botein – Flexible Investing and Institutional Challenges (Capital Allocators, EP.88)
Opinion
Family offices cannot replicate large-cap direct PE with two-person teams
“Having said that, I'd be pretty critical of some of the efforts to try to internalize and do it directly. Not that the people who are doing it aren't great, but if you look at Blackstone, I don't know how many people they have in the private equity department …”
Matt BoteinFeb 25, 2019▶ 52:53Matt Botein – Flexible Investing and Institutional Challenges (Capital Allocators, EP.88)
Insight
Passive indexing growth makes fundamental hedge fund alpha harder to generate
“If you're halfway there, there's half as many shares being sold into that news event than there used to be. Or, like, way more cynically, there's fewer dumb decisions being made in one part of the world That can be profited on from the other. And at the same t…”
Matt BoteinFeb 25, 2019▶ 56:58Matt Botein – Flexible Investing and Institutional Challenges (Capital Allocators, EP.88)
AssertionNot checkable as stated
Fed refused new bank charters for PE and hedge fund applicants
“It was clear to me that it was not the direction of travel in the Federal Reserve System at the time to give new banking charters to anyone. But if they were going to give them to anyone, it wasn't going to be somebody whose pedigree said, hedge fund, private …”
Matt BoteinFeb 25, 2019▶ 22:06Matt Botein – Flexible Investing and Institutional Challenges (Capital Allocators, EP.88)
Insight
Rent-to-own minimizes breakage costs compared to subprime mortgage foreclosures
“No one should really lend to someone who might default because the foreclosure process has been proven to be too expensive, and so the right answer really is a rent to own, as with furniture. Rent the house. Establish your credit history. You have an option, a…”
Matt BoteinFeb 25, 2019▶ 29:04Matt Botein – Flexible Investing and Institutional Challenges (Capital Allocators, EP.88)
Made with StarZero
Turn any episode into a week of clips.
This entire site, over 700 episodes transcribed, diarized, checked and made playable,
runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the
moments worth sharing, cuts them, captions them, and reframes them for every feed.
We use essential cookies to make the site work. With your permission we
also use analytics cookies (Google Analytics and Mixpanel) to understand
usage and improve StarZero. See our Cookie Policy.