The Ledger
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NEPC deploys $5B in private strategies and $26B in public searches
“So in private markets, we expect to put about five billion dollars to work in our highest conviction strategies. Now, our clients have a ton of underlying exposures to some of their own investments that we help them with, but are maybe not our highest convicti…”
NEPC expects to expand private markets deployment to $8B in two years
“We expect to put double the amount of capital to work in private markets in the next two years. So looking at more like eight billion.”
Samuels: NEPC's diligence framework uses 265 questions and data points
“These 265 questions, data points that we calculate are guideposts for our diligence.”
Samuels: Asking 'why' three times bypasses GP marketing scripts
“And another tool that we use is to ask why three times. So if they tell you a story about a stock, You dig a layer deeper and say, well, why is that? Then you can really get to the meat of what is actually happening and go beyond that prepared marketing respon…”
Samuels: NEPC does not evaluate researchers on short-term pick outperformance
“We're not like the asset management institutions that are going to measure our researchers on their outperformance of names that they pick because it's a long-term measurement cycle, especially with private markets.”
Samuels: NEPC underwrote 17 diverse-owned strategies into client portfolios last year
“And last year, we underwrote 17 diverse-owned strategies that are in client portfolios now.”
Girls Who Invest targets 30% of world's capital managed by women by 2030
“We have hundreds of students now each year, and the idea is to have 30% of the world's capital managed by women by 2030.”
Samuels: NEPC Manager Evaluation Framework Has Over 400 Questions
“So that framework is very extensive, and it's upwards of 400 questions that I want each and every analyst to be able to answer.”
Samuels: MassPRIM and Wellesley shared 7% nominal return targets
“The return targets were pretty much the same for the public pension and the endowment, about seven percent nominal, but the investment approaches were really, really different.”
Samuels: Wellesley allocated two-thirds of portfolio to illiquid assets
“Two-thirds in less liquid, either private markets or hedge fund strategies, and the rest, a third or so in tradable.”
Samuels: Committing to 30 Seconds of Bravery Yields Career Benefits
“I wish I knew this much earlier, but the advice that I got from someone once is just have 30 seconds of bravery. If it's asking for a promotion, if it's interviewing for a job, doing something bold, speaking up in a meeting, just be brave for 30 seconds, even …”