Jen Birmingham, Managing Director at PRINCO, describes PRINCO's deliberate operational choice not to hire in-house legal counsel.
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“It's another reason why we actually do not have internal legal counsel. We use external only, and the reason for that is that the investment person, as well as the ops team, has to play quarterback.”
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More from Jen Birmingham
Insight
Birmingham: Career acceleration and deep learning require in-person office work
“I think junior staff members, what they don't appreciate is that, yes, you've been productive, but do you want to catapult your career? Do you want to learn as much as possible? Do you want to be the best XYZ ever? That is going to require you to have some in-…”
Jen BirminghamSep 4, 2023▶ 21:15Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336)
PredictionOpen · timeframe Sep 2028
Birmingham: Remote work will decrease over the next five years
“I think certain fields will get back to what it used to be. I don't think everyone's going to now be hybrid. I don't think the new norm is remote work as much as it is now. Andy always does this to me. If you were going to make a bet that in five years it woul…”
Jen BirminghamSep 4, 2023▶ 21:49Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336)
Insight
PRINCO intentionally preserves inefficient large meetings to improve organizational learning
“It is ok to be inefficient sometimes if you are more effective in the learning process. So we have huge meetings. One might say that would be much more efficient if there was just five of us. We'd probably come to the same decision. Be done with it. However, y…”
Jen BirminghamSep 4, 2023▶ 58:03Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336)
Insight
Birmingham: Overhearing and butting into conversations drives learning at PRINCO
“Overhearing conversations is a big part of our learning and culture. Someone hearing something and then interrupting or butting in is actually what we want people to do.”
Jen BirminghamSep 4, 2023▶ 14:23Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336)
Disclosure
PRINCO's board delegates full investment approval authority to internal team
“So one of the great parts of the governance is that the PRINCO board doesn't approve investments. PRINCO has the ability to invest without constraint as it relates to the board.”
Jen BirminghamSep 4, 2023▶ 22:26Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336)
Disclosure
PRINCO operations team monitors legacy PE managers instead of investment staff
“We still had a lot of managers on our books that had market value, but that we weren't re-upping with their next fund, and so because the operations team understood, dealt with these managers so frequently, They are actually the people who are attending the AG…”
Jen BirminghamSep 4, 2023▶ 33:11Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336)
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