The Fiftyfaces Podcast

Stuart Dunbar is a Partner at Baillie Gifford, based in Edinburgh, where he has worked since 2003. He previously held a range of institutional marketing roles, but before that there were some unexpected interests and pursuits.We start there, with his move to Hong Kong and some of the cultural differences that he perceived when working overseas more broadly, much of them to do with self-confidence and presence in the workplace. We move then to discussing the evolving shape of institutional investing and how asset managers can adapt to changing investor needs. We speak about predicting the shape of future demand, seeing where the puck is moving to, and changing how asset managers work with clients. Some of this is the consultative approach, some of this is simply adapting to changing needs. We also discuss the future of active asset management more broadly.Thank you to GCM Grosvenor and Resolute Investment Managers, Inc. for sponsoring Series 3 of 2025.GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity across alternative investments.With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenor leverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.comResolute Investment Managers, Inc. is a diversified, multi-affiliate asset management platform that partners with more than 30 best-in-class affiliated and independent investment managers. Its unique platform delivers strategic value through a full suite of distribution, operational and administrative services available to affiliates and partners.

Jen Choi is CEO of ILPA – the Institutional Limited Partners Association, where she has spent over a decade. She previously spent over 7 years at the Emerging Markets Private Equity Association.Our conversation traces her background and her path to representing LPs and their interests in the fast-pace private asset arena. Our conversation has a strong emphasis on transparency – we open with a quote around sunlight being the best disinfectant.This takes us to a discussion about demystifying the often-opaque world of private assets, the evolution of the position of the LP and the current state of the pendulum in terms of where it is sitting. We hear about the evolving ILPA standards, getting buy-in across a global LP population and the importance of collective action as well as standardization.Thank you to GCM Grosvenor and Resolute Investment Managers, Inc. for sponsoring Series 3 of 2025.GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity across alternative investments.With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenor leverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.comResolute Investment Managers, Inc. is a diversified, multi-affiliate asset management platform that partners with more than 30 best-in-class affiliated and independent investment managers. Its unique platform delivers strategic value through a full suite of distribution, operational and administrative services available to affiliates and partners.

We are delighted to release as a bonus episode this conversation with long-time industry member, mentor and advocate Jennifer Strickland.  Over the course of Jennifer's career she has held a series of roles starting out in the annuity space, moving into private wealth, hedge fund business development, alternative asset business development and most recently was Head of Business Development for Pretium, a $50 bn specialized asset manager focused on real estate, structured credit and legal opportunities. She is a Board Member of Women in Private Credit and an active advocate for mentorship and diversity within the financial services industry. Our conversation traces Jennifer's upbringing in Arizona, her early university career, and her first career at Morningstar which pushed her out of her comfort zone and into the limelight. I have always known Jennifer as an unparalleled business development and client service professional and we talk about what it takes to build relationships of trust and transparency, and the time that needs to be invested in these networks. We note the importance of networks and mentorship and the feedback loop of recognizing the wisdom and learnings that we pick up along the way,We move then to discuss Jennifer's cancer diagnosis in 2022 and Jennifer candidly and openly discusses the cascade of emotions that followed, from its effect on family and friends to what it means to have a career prematurely interrupted, with more work to do, more impact to make.  This deeply personal discussion is a reminder of what it is we live for, and what we leave in our wake. We are encouraged to appreciate what we have learned from others - what we  - how appreciating others' legacies is a step in ensuring our own.Today's podcast release coincides with the launch by Jennifer and her family of the Strickland Fellowship and Foundation, which honors her legacy by supporting the growth of Women in Private Credit and the next generation of private credit talent  through personalized mentorship, education and networking with the industry's top investors and business leaders. You can read more about Women in Private Credit here: https://www.womeninpc.com/

Krishna Mohanraj is International Portfolio Manager at Diamond Hill Capital Management, a $30bn asset manager headquartered in Columbus Ohio. Prior to joining Diamond Hill, Krishna spent time at Sanford C. Bernstein and Exelon corporation and prior to that was a product manager and solution architect.  We start by discussing Krishna's background, starting in South India, how he moved to studying engineering in the US, and working in software and consulting during the .com bubble. He pursued finance in London, covering European equities, before returning to the US to manage a global equity portfolio. He reflects on the role of chance in his career, noting that while he made decisions along the way, crucial jumps happened by accident. Moving to this current role at Diamond Hill we discuss the importance of teams, and how this is often an overlooked aspect of portfolio management. We look at how he nurtures a team – even from a largely remote base – and how autonomy is key to agency and empowerment. Thank you to GCM Grosvenor and Resolute Investment Managers, Inc. for sponsoring Series 3 of 2025.GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity across alternative investments.With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenor leverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.comResolute Investment Managers, Inc. is a diversified, multi-affiliate asset management platform that partners with more than 30 best-in-class affiliated and independent investment managers. Its unique platform delivers strategic value through a full suite of distribution, operational and administrative services available to affiliates and partners.   

Debby Blakey is CEO of Hesta a $91 bn AUD Australian superannuation fund dedicated to the health and community services sector. She is also President of the Australian Council of Superannuation Investors and a director of the International Corporate Governance Network (ICGN). Our conversation traces Debby's personal and career journey from South Africa, where she did consulting work, to build a new life in Melbourne, and how she developed her network from scratch. We move then to her role at Hesta and how it has evolved, and spend some time discussing the unique positioning that Hesta holds, as well as putting the role of all Australian Superannuation Funds into context.We discuss why Hesta is a "Super with Impact" and dig in to how impact is defined, and how and why Hesta engages with its members. We talk about the challenges of the road ahead and how Hesta is preparing for its future journey. Thank you to GCM Grosvenor and Resolute Investment Managers, Inc. for sponsoring Series 3 of 2025.GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity across alternative investments.With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenor leverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.comResolute Investment Managers, Inc. is a diversified, multi-affiliate asset management platform that partners with more than 30 best-in-class affiliated and independent investment managers. Its unique platform delivers strategic value through a full suite of distribution, operational and administrative services available to affiliates and partners.

We are delighted to bring you Series 3 of our 2025 series, which we again are launching amid significant volatility in markets. However, as you will hear, the more things change, the more they stay the same. We start this series down under, hearing from Debby Blakey, CEO of Hesta, who describes what it means to be a “Super with Impact”, and a gutsy advocate for a fair and healthy community.  We turn then to portfolio management, as Krishna Mohanraj of Diamond Hill talks about the power of the team, and how he approaches international investment, and then take the LP perspective, and chat with Jen Choi, CEO of ILPA, about the changing face of private equity and LP advocacy.  Stuart Dunbar of Baillie Gifford talks us through the changing shape of client engagement when it comes to large asset managers, while we dive into the topical issue of LGPS pension fund pooling with long-time LGPS fund leader, Jo Kempton of Lincolnshire Pension Fund. We are back to Diamond Hill with a fascinating interview with Henry Song, who explores the human side of finance and what we get wrong in competency interviews and moving then to the world of quantitative investing, Artemiza Woodgate lifts the veil on quantitative investing, and what we sometimes overlook. We stay somewhat in the world of quantitative investing in our interview with Kristen Van Gelder, who has spent her entire career tracing the evolution of hedge funds, and the relevance of hedge fund of fund solutions for client portfolios from her role at Evanston Capital Management. Then we pull the lens back, with Nick Spencer of Milliman who advocates for a systems thinking approach to risk when it comes to sustainability issues – and we explore what this means for the future of the investing style.  We end then coming full circle with our exploration of values-based investing with a wonderful interview with Lisa Laird, who is CIO of Mercy Investments Services, Inc. Thank you to GCM Grosvenor and Resolute Investment Managers, Inc. for sponsoring Series 3 of 2025.  GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity across alternative investments. With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenor leverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.com Resolute Investment Managers, Inc. is a diversified, multi-affiliate asset management platform that partners with more than 30 best-in-class affiliated and independent investment managers. Its unique platform delivers strategic value through a full suite of distribution, operational and administrative services available to affiliates and partners.

Daniel Gore is a Founding Partner of Orthogonal Partners, a boutique asset manager investing in "next generation" alternative investment strategies.  He has had an extensive career in investing, including time spent in angel investing, in a family office and in film finance. He is currently pursuing opportunities in small and mid market UK firms.   Our conversation starts with the path that Dan took to this point, which included numerous different opportunities for learning – and we hear about the importance of trust and integrity as values that transcend different investment areas. Dan reflects on his unconventional career, gaining a broad understanding of different asset classes and the importance of backing the right teams. Moving now to Orthogonal partners, we speak about its range, and why it is a source of unconventional returns, and we discuss the structural funding gap in the UK SME market and the government's efforts to address it through the British Business Bank. We dive in to some details of the UK SME market, which presents a meaningful opportunity set with 5.6 million SMEs accounting for 99% of all businesses and 60% of private sector jobs.  We conclude with some reflections on the power of networking and the value of building relationships from the start of one's career. Thank you Eagle Point Credit and Benefit Street Partners for supporting this series!With over $12 billion of AUM, Eagle Point Credit Management is a premier investment firm focused on generating strong returns for its clients through sourcing, evaluating and executing investments in CLOs, Portfolio Debt Securities and other credit investments that it believes shave the potential to outperform their respective markets generally.Benefit Street Partners is a leading global alternative credit asset manager offering clients investment solutions across a broad range of complementary credit strategies, including direct lending, special situations, structured credit, high yield bonds, leveraged loans and commercial real estate debt and equity. As of December 31, 2024, BSP-Alcentra had $76 billion of assets under management.

Fernando Vinzons is Chief Investment Officer at the Chicago Teacher's Pension Fund, a role he has held for almost 3 years. He previously spent over 13 years at the Cook County Pension Fund and started his career in investment research. Our conversation starts with Fernando's initiation into stock picking, and how he earned the ropes pitching stock ideas to a legendary hedge fund manager. We move then to his move to an allocator role, and the entrepreneurial nature of his formative years, when resource constraints required the wearing of many hats.We move then to the Chicago Teachers Pension Plan and we discuss their diversity program in detail - we hear how the pension fund is leading the way in diversity, with over 51% of their portfolio managed by MWBE firms. The Fund's "First Look" program gives smaller investment firms a platform to showcase their talents and break through traditional industry barriers.  We discuss the benefit that this dialogue can create for these emerging managers who still struggle to get air time. Ending with advice and reflections, Fernando offers a reminder to stay calm, focus on long-term strategies, and remember that there's more to life than work stress. He also touts the benefit of travel to broaden the mind and offer more perspective. Thank you Eagle Point Credit and Benefit Street Partners for supporting this series!With over $12 billion of AUM, Eagle Point Credit Management is a premier investment firm focused on generating strong returns for its clients through sourcing, evaluating and executing investments in CLOs, Portfolio Debt Securities and other credit investments that it believes shave the potential to outperform their respective markets generally.Benefit Street Partners is a leading global alternative credit asset manager offering clients investment solutions across a broad range of complementary credit strategies, including direct lending, special situations, structured credit, high yield bonds, leveraged loans and commercial real estate debt and equity. As of December 31, 2024, BSP-Alcentra had $76 billion of assets under management.

Peter Wilson is Managing Director at HarbourVest Partners, a private markets specialist firm with over $140 billion in assets across 14 offices. Peter has worked at HarbourVest for most of his career, in a series of roles, most recently as one of two members of the firm's Executive Management Committee which ran the firm from 2012 to 2024. In this broadranging discussion, Peter discusses his career journey and the firm's evolution as well as that of the private equity industry more broadly. We discuss the shift from standardized to bespoke investment strategies, catering to institutional and high net worth clients and some of the more derivative strategies that have emerged, such as secondaries, NAV lending and co-investments. We discuss the the importance of authenticity in leadership and why pushing outside one's comfort zone and taking on stretch challenges is so important to continue to grow in one's career. Thank you Eagle Point Credit and Benefit Street Partners for supporting this series!With over $12 billion of AUM, Eagle Point Credit Management is a premier investment firm focused on generating strong returns for its clients through sourcing, evaluating and executing investments in CLOs, Portfolio Debt Securities and other credit investments that it believes shave the potential to outperform their respective markets generally.Benefit Street Partners is a leading global alternative credit asset manager offering clients investment solutions across a broad range of complementary credit strategies, including direct lending, special situations, structured credit, high yield bonds, leveraged loans and commercial real estate debt and equity. As of December 31, 2024, BSP-Alcentra had $76 billion of assets under management.

Tom Doyle is Partner and Head of NAV Financing at Pemberton Asset Management, a role he has held for over three years. He previously held a similar role at 17Capital. Our conversation takes us on a tour through the evolution of private markets, the role of innovation in it and some of the dynamics that have driven NAV financing. We dig in to the evolving nature of client demand and understanding of some of these strategies and look to parallels such as the development of secondary markets in terms of the speed of acceptance and normalization of some private equity strategies.Moving then to career progression, Tom discusses some of the key figures who inspired him throughout his career, including some leaders who taught him how to analyze complex situations, and think critically. We end with the pursuit of excellence in delivery of client interactions, and the power to "elevate" every interaction, every pitch, every client experience.Thank you Eagle Point Credit and Benefit Street Partners for supporting this series!With over $12 billion of AUM, Eagle Point Credit Management is a premier investment firm focused on generating strong returns for its clients through sourcing, evaluating and executing investments in CLOs, Portfolio Debt Securities and other credit investments that it believes shave the potential to outperform their respective markets generally.Benefit Street Partners is a leading global alternative credit asset manager offering clients investment solutions across a broad range of complementary credit strategies, including direct lending, special situations, structured credit, high yield bonds, leveraged loans and commercial real estate debt and equity. As of December 31, 2024, BSP-Alcentra had $76 billion of assets under management.

Cathy Bevan is Head of Structured Credit at Benefit Street – Alcentra.  She has spent most of her career in credit structuring with roles on the sell side and buy side. Our conversation starts with her university study of math, and the career trajectory which was not specifically planned but assumed its own momentum quite quickly. We speak about the details of structured credit, how it appealed to her, and why it represents an attractive opportunity set today. In examining career trajectories we look at the importance of taking risks, moving outside one's comfort zone and winning the trust of leaders who may ultimately encourage bold moves. We speak about enjoying the journey, not just the destination, and about the way the industry has changed for the better, but still have space to change some more. Thank you Eagle Point Credit and Benefit Street Partners for supporting this series!With over $12 billion of AUM, Eagle Point Credit Management is a premier investment firm focused on generating strong returns for its clients through sourcing, evaluating and executing investments in CLOs, Portfolio Debt Securities and other credit investments that it believes shave the potential to outperform their respective markets generally.Benefit Street Partners is a leading global alternative credit asset manager offering clients investment solutions across a broad range of complementary credit strategies, including direct lending, special situations, structured credit, high yield bonds, leveraged loans and commercial real estate debt and equity. As of December 31, 2024, BSP-Alcentra had $76 billion of assets under management.

Series 2 of the 2025 podcast was born into a time of tremendous market turbulence. In our ten conversations with a diverse range of guests – sourced globally, we go top down, and bottom up – into the weeds, and take helicopter views. Tune in to hear about the technologies in venture capital and climate tech that excite even the most experienced investors who have seen multiple cycles with podcasts featuring Hunter Somerville and Beverley Gower-Jones, OBE on topics of big swing innovation in venture capital and what is on the cutting edge of climate tech. Erik Hirsch of Hamilton Lane describes private equity's evolution, the essential role of data and what lies ahead, while Peter Wilson of Harbourvest shares his views on the topic as well as the importance of authenticity.Fernando Vinzons, CIO at Chicago Teachers Pension Fund updates us on the fund's growth and in particular the resilience of its emerging manager strategy, while Dan Gore of Darwin Alternative Asset Management describes the opportunity in small and mid-cap UK firms. Rich Byrne seamlessly marries lessons from Brazilian Jiu Jitsu (in which he is a decorated champion) with lessons from the private credit world, while Cathy Bevan, also of Benefit Street, walks us through the evolution of structured credit over the past decade. Staying on credit, Sonali Pier of PIMCO describes her own journey from working as a credit trader into her current role, and we dive into the fascinating and emerging area of NAV lending with a discussion with Tom Doyle of Pemberton Asset Management.Please follow us for the launch of the second part of Series 2 next week: You can find all of our podcasts on The Fiftyfaces Hub, Apple Podcasts, Spotify or wherever you get your podcasts. Thank you Eagle Point Credit and Benefit Street Partners for supporting this series! With over $12 billion of AUM, Eagle Point Credit Management is a premier investment firm focused on generating strong returns for its clients through sourcing, evaluating and executing investments in CLOs, Portfolio Debt Securities and other credit investments that it believes shave the potential to outperform their respective markets generally.Benefit Street Partners is a leading global alternative credit asset manager offering clients investment solutions across a broad range of complementary credit strategies, including direct lending, special situations, structured credit, high yield bonds, leveraged loans and commercial real estate debt and equity. As of December 31, 2024, BSP-Alcentra had $76 billion of assets under management.

Victoria Barbary  is Director of Strategy & Communications for the International Forum of Sovereign Wealth Funds (IFSWF) in which her focus is to help sovereign wealth funds become better investors for the benefit of their citizens.  She formerly worked in research roles relating to Sovereign Wealth Funds and prior to that was a PhD student in the field of Victorian History. Our conversation starts by setting the stage with sovereign wealth funds around the world, setting out the different sizes, structures and objectives that characterize the landscape. We move then into the goals of IFSWF, which are standard setting, knowledge sharing and representation, and describe what each goal means in real terms. Given the reach of sovereign wealth funds and their influence on local economies, we focus on the current trends around productive finance, sustainability, governance and staffing, and look to the future in terms of the surge of influence of these institutional investors.This podcast - a throwback to our first Series is is proudly brought to you by bfinance—a trusted partner to the world's leading institutional investors. With a proven track record in strategy, implementation, and oversight, bfinance delivers bespoke investment consultancy that empowers asset owners to achieve their unique objectives. Whether it's refining portfolio strategy, selecting fund managers, monitoring performance or getting better value for money, bfinance combines global expertise with tailored solutions to unlock value for their clients. To learn more about how they've supported over 500 clients in 45 countries, managing assets totalling over $9 trillion, visit bfinance.com.

Rich Byrne is President and CEO of Benefit Street Partners as well as a decorated Brailian Jiu Jitsu champion. In this fascinating podcast we discus his journey from a fine arts major to a leading figure in finance and the many twists and turns in between. We discuss his previous roles such as his internship with Manufacturers Hanover Trust, which is now JP Morgan, and his first job at Wall Street at Merrill Lynch in Chicago to becoming one of founding members of Merrill Lynch's high yield research department.We discuss his interest in Brazilian Jiu Jitsu and he emphazises the importance in fostering creativity and innovation in finance, along with the positive impact that a unique background can have in the finance field.We talk about his role at Benefit Street Partners' and their focus on credit and alternative investments, particularly in real estate lending. Rich stresses the importance of leading by example and maintaining a strong company culture.We round up with a few motivational messages from Rich, reflecting on the value of staying in the game for the long term, attributing his success to his perseverance and focus on continuous improvement.Thank you Eagle Point Credit and Benefit Street Partners for supporting this series!With over $12 billion of AUM, Eagle Point Credit Management is a premier investment firm focused on generating strong returns for its clients through sourcing, evaluating and executing investments in CLOs, Portfolio Debt Securities and other credit investments that it believes shave the potential to outperform their respective markets generally.Benefit Street Partners is a leading global alternative credit asset manager offering clients investment solutions across a broad range of complementary credit strategies, including direct lending, special situations, structured credit, high yield bonds, leveraged loans and commercial real estate debt and equity. As of December 31, 2024, BSP-Alcentra had $77 billion of assets under management.

Sonali Pier is a Managing Director at PIMCO in Newport Beach, with a particular focus on Multi-Sector Credit.  She previously worked as a credit trader and was named recently to the Marketwatch 50 most influential people in markets.  Our conversation starts with her education, and a stock picking competition at the tender stage of sixth grade, which launched an interest in finance and economics.She moved then through various trading and finance roles into a credit specialty, and shares some of the insights that she learned along the way. Now at PIMCO we discuss the current landscape for multi-sector credit and some of the opportunity set. We discuss how PIMCO strives in particular to hone the culture within its investment teams to optimize contributions from every level of the organization. In looking back at her career in financial markets,  Sonali emphasizes the importance of adaptability, citing her exposure to six bosses in five years.We round up by highlighting the need for diverse investment teams and the importance of embracing change in the financial industry. Thank you Eagle Point Credit and Benefit Street Partners for supporting this series! With over $12 billion of AUM, Eagle Point Credit Management is a premier investment firm focused on generating strong returns for its clients through sourcing, evaluating and executing investments in CLOs, Portfolio Debt Securities and other credit investments that it believes shave the potential to outperform their respective markets generally. Benefit Street Partners is a leading global alternative credit asset manager offering clients investment solutions across a broad range of complementary credit strategies, including direct lending, special situations, structured credit, high yield bonds, leveraged loans and commercial real estate debt and equity. As of December 31, 2024, BSP-Alcentra had $77 billion of assets under management.

Erik Hirsch is Co-Chief Executive Officer of Hamilton Lane, where he is responsible for the firm's strategic direction and operations. The firm currently has over $900 billion in assets under management and supervision and is committed to driving meaningful change in private markets for the institutions and other clients that it serves. We start with discussing Erik's unconventional path into finance, starting from a government and philosophy background.  We hear about his journey that led him to this senior role at Hamilton Lane,  and the firms evolution from a consulting company into the diversified financials firm it is today. We also get fairly deep into our discussion of private markets and Erik emphasizes the importance of data in this new, more mature, phase of the private markets. Returning to the culture at Hamilton Lane, we discuss the importance of culture, collaboration, and data in decision-making as well as establishing cognitive diversity within the teams at the firm. In a discussion of governance and the various board roles that Erik has held and holds, he highlights the need for boards to understand their decision-making environment and have a clear North Star, believing in simplicity, getting people aligned and understanding of the goal.  These are, he believes, central to building a better organization.We cover the significance of self-awareness and mentorship in leadership. before rounding up the conversation on Hamilton Lane's culture, and how it is reflected in its humorous videos, showcasing a team-oriented, non-serious approach to finance.Thank you Eagle Point Credit and Benefit Street Partners for supporting this series! With over $12 billion of AUM, Eagle Point Credit Management is a premier investment firm focused on generating strong returns for its clients through sourcing, evaluating and executing investments in CLOs, Portfolio Debt Securities and other credit investments that it believes shave the potential to outperform their respective markets generally. Benefit Street Partners is a leading global alternative credit asset manager offering clients investment solutions across a broad range of complementary credit strategies, including direct lending, special situations, structured credit, high yield bonds, leveraged loans and commercial real estate debt and equity. As of December 31, 2024, BSP-Alcentra had $77 billion of assets under management.

Beverley Gower-Jones, OBE FEI is Managing Partner at The Clean Growth Fund and Chief Executive Officer at Carbon Limiting Technologies. She is an independent member on Governments Net Zero Innovation Board (NZIB). The Board provides strategic oversight of government funding of net zero innovation programs. Our conversation starts with Beverley's start studying geology and working in industry in emerging markets, and chart her transition to corporate ventures and then venture capital.  We discuss the prevailing backdrop (culturally) to her moves and how that may or may not have influenced her. We move then to the consulting work being done by Carbon Limiting Technologies and how this squares with raising and running the Clean Growth Fund. We focus then on that fund's investment across sectors like power, transport, and agriculture.  We discuss the importance deep sector expertise, particularly in industrial biotechnology and carbon capture technologies.  We conclude with discussing the role of governance, the ongoing need for diverse, supportive boards and the significance of perseverance in overcoming challenges. With over $12 billion of AUM, Eagle Point Credit Management is a premier investment firm focused on generating strong returns for its clients through sourcing, evaluating and executing investments in CLOs, Portfolio Debt Securities and other credit investments that it believes shave the potential to outperform their respective markets generally. Visit www.eaglepointcredit.com to find out more.Benefit Street Partners is a leading global alternative credit asset manager offering clients investment solutions across a broad range of complementary credit strategies, including direct lending, special situations, structured credit, high yield bonds, leveraged loans and commercial real estate debt and equity. As of December 31, 2024, BSP-Alcentra had $77 billion of assets under management.

Hunter Somerville, a partner at Stepstone Group, where he focuses on venture capital investing with a particular specialty of digital assets and micro venture capital. Based in the Baltimore area, we reflect on what made him stay in and return to that area and the path he took to get to venture capital. Our conversation digs into the weeds of venture capital investing including digital assets, blockchain as well as the market in secondary venture capital interests. We discuss liquidity, M&A, the IPO window and current headwinds for the venture capital industry as well as how investor use of these strategies is changing. We turn then to innovation and how people have started to embrace "big swing innovation" - innovation that can tackle big problems in categories such as defense, climate, aerospace and energy. AI does feature, but not as a lead character, more in a supporting role.  This Series is sponsored by Eagle Point Credit Management and Benefit Street Partners. With over $12 billion of AUM, Eagle Point Credit Management is a premier investment firm focused on generating strong returns for its clients through sourcing, evaluating and executing investments in CLOs, Portfolio Debt Securities and other credit investments that it believes shave the potential to outperform their respective markets generally. Visit www.eaglepointcredit.com to find out more.Benefit Street Partners is a leading global alternative credit asset manager offering clients investment solutions across a broad range of complementary credit strategies, including direct lending, special situations, structured credit, high yield bonds, leveraged loans and commercial real estate debt and equity. As of December 31, 2024, BSP-Alcentra had $77 billion of assets under management.

This summary is less a trailer than a highlight reel. The year started with a new administration in the US and an explosion of the culture wars and backlash against DEI and ESG labelling. Even engagement has become more cumbersome and some may feel the hard won policies of years ago are going into reverse.  Because we had lined up a list of industry experts with a focus on sustainable investing for this series, we had an excellent opportunity to ask them about the headwinds and the view of them. The views were surprisingly nuanced and positive, from the insights of a sustainable equity manager about the impact that was still happening, to the views of two founders of a nature based solutions manager about the decline of net zero alliances and how the shift of focus from carbon might be a good thing. The guests of Series 1 are Chelsea Smith of Bernstein Private Wealth, Anastasia Guha of Redington, Denise Le Gal of Brightworth, Abdiel Santiago of the Panama Sovereign Wealth Fund, Bjorn Thelander (formerly of the Dyson Family Office), Stephanie Niven of Ninety One, Rob Gardner and Eoin Murray of Rebalance Earth and Steve Neel of New Mexico Educational Retirement Board and Stephen Oxley of OXC. This series of the Fiftyfaces Podcast is proudly brought to you by bfinance—a trusted partner to the world's leading institutional investors. With a proven track record in strategy, implementation, and oversight, bfinance delivers bespoke investment consultancy that empowers asset owners to achieve their unique objectives. Whether it's refining portfolio strategy, selecting fund managers, monitoring performance or getting better value for money, bfinance combines global expertise with tailored solutions to unlock value for their clients. To learn more about how they've supported over 500 clients in 45 countries, managing assets totalling over $9 trillion, visit bfinance.com.

Chelsea Smith is Senior National Director, Family Office Services at Bernstein Private Wealth Management, based in Chicago. She started her career as an equity trader, and in recent years has been heavily involved in diversity initiatives designed to attract a more diverse pipeline into the finance industry. Our conversation starts with Chelsea's upbringing - as one of three triplet girls, she had a unique family structure from the very beginning and spent her childhood cycling through different schools and neighborhoods with her father's work. We follow then the mentor that advised her to work in finance and the ongoing role that mentors like that played in shaping her career.Now in private wealth, we discuss the evolution of the private wealth product offering, where alternatives fit, and where values fit. We also talk about values in the workplace and some of the ways that Chelsea is instilling her values in the pipeline of talent, by nurturing it and helping it grow. This is a poignant story of triumph and grit, which should serve as an inspiration for future generations. It is particularly appropriate that we are releasing this in Women's History Month and in celebration of International Women's Day. This episode of the Fiftyfaces Podcast is proudly brought to you by bfinance—a trusted partner to the world's leading institutional investors. With a proven track record in strategy, implementation, and oversight, bfinance delivers bespoke investment consultancy that empowers asset owners to achieve their unique objectives. Whether it's refining portfolio strategy, selecting fund managers, monitoring performance or getting better value for money, bfinance combines global expertise with tailored solutions to unlock value for their clients. To learn more about how they've supported over 500 clients in 45 countries, managing assets totalling over $9 trillion, visit bfinance.com.

Denise Le Gal is Independent Chair at Brightwell as well as a Chair and Trustee Director of JP Morgan Chase Retirement Plan among other portfolio roles  She was Chair of the Brunel Pension Partnership Limited for close to 8 years.Our conversation goes back to Denise's roots, and she describes how she grew up in a large family on a farm near Winnipeg - a place where nature and its force loomed large. This taught a deference towards nature and the impact of climate, and it has been something that Denise has remembered throughout her life.We trace then her academic path through music and business, and how she ultimately found her way into finance, and then eventually into the type of finance that suited her.  International moves, a stint in politics and a long term role in public pensions followed.We discuss the current outlook for governance and public pensions as well as the likely further role of pooling in the UK LGPS. This is a rich conversation with many twists and turns.This episode of the Fiftyfaces Podcast is proudly brought to you by bfinance—a trusted partner to the world's leading institutional investors. With a proven track record in strategy, implementation, and oversight, bfinance delivers bespoke investment consultancy that empowers asset owners to achieve their unique objectives. Whether it's refining portfolio strategy, selecting fund managers, monitoring performance or getting better value for money, bfinance combines global expertise with tailored solutions to unlock value for their clients. To learn more about how they've supported over 500 clients in 45 countries, managing assets totalling over $9 trillion, visit bfinance.com.

In this special episode we are thrilled to share the stage with Robert Morier, host of the Dakota Live Podcast and Professor of Entrepreneurship and Venture Capital at Drexel University. We reflect on what podcasting has taught us, how our respective platforms have evolved, how diversity factors in to our guest list and our approach, and what the future looks like for podcasting, for our industry and for how we talk about it. You can find out more about the Dakota Live Podcast here: https://www.youtube.com/channel/UCQXvBjpCC80gqthSXD3BSjA

Abdiel Santiago is Secretary (CIO) of the Fondo de Ahorro de Panama, a role he has held for over 11 years. He holds a number of board roles in addition – including Advisory Committee Member of the Export-Import Bank of the US, a Board Advisory Committee Member of the International Forum of Sovereign Wealth Funds and a Committee Member of the Milken Institute. He is also a Board Leadership Fellow at the National Association of Corporate Directors.Our conversation starts with his early years in the US military, and the lessons learned there around leadership, team work and chain of command. We cycle through his career in finance, some of its ups and down and what led to the offer he couldn't refuse to join the start up sovereign wealth funding his home country of Panama.This series we have a special focus on sovereign wealth funs with the coming podcast with Victoria Barbary, Director of Strategy & Communications for the International Forum of Sovereign Wealth Funds, and Abdiel provides on the ground insight into building a fund from scratch, responding to governance concerns and considering local impact. Our discussion ends with a discussion of board roles and governance, and how the allure of these roles might not be always as they seem. This episode of the Fiftyfaces Podcast is proudly brought to you by bfinance—a trusted partner to the world's leading institutional investors. With a proven track record in strategy, implementation, and oversight, bfinance delivers bespoke investment consultancy that empowers asset owners to achieve their unique objectives. Whether it's refining portfolio strategy, selecting fund managers, monitoring performance or getting better value for money, bfinance combines global expertise with tailored solutions to unlock value for their clients. To learn more about how they've supported over 500 clients in 45 countries, managing assets totalling over $9 trillion, visit bfinance.com.

Stephen Oxley is founder of Oxley Capital Connections (OXC) a firm he founded in the UAE in 2024 dedicated to helping global investment managers raise capital in the Middle East. He was formerly held a serious of business development functions in the Middle East and Europe and worked as an investment consultant.I have known Stephen for many years, and have always known about his fascinating backstory as an actor – and a performer in a one man show at that – Stephen starred in The Life and Opinions of Tristram Shandy. This seemed like a natural launch point for a discussion around the lessons learned through building a career as a successful actor, and in particular the skills needed to connect with a crowd when you are quite literally a “one man show”. Stephen describes the tactics of connecting with an audience, and a different audience every night, and the kind of rejection that hurt more than others. We move then to discuss OXC and the marketplace of the Middle East where he is now focused. We learn about asset allocation preferences, relationship building and the fast-moving dynamic of this region.This episode of the Fiftyfaces Podcast is proudly brought to you by bfinance—a trusted partner to the world's leading institutional investors. With a proven track record in strategy, implementation, and oversight, bfinance delivers bespoke investment consultancy that empowers asset owners to achieve their unique objectives. Whether it's refining portfolio strategy, selecting fund managers, monitoring performance or getting better value for money, bfinance combines global expertise with tailored solutions to unlock value for their clients. To learn more about how they've supported over 500 clients in 45 countries, managing assets totalling over $9 trillion, visit bfinance.com.

Why does every organization have to be a "learning organization"? What is the future of computing? How can quantum computing be a force for good? This bonus episode with Kelly Richdale is a master class in the potential of quantum computing how the essence of cyber security has changed - to become cyber resilience. Kelly is an independent board director and advisor with a portfolio of international mandates based on technology innovation and digital transformation, with a particular focus on quantum, AI, blockchain, crypto and cybersecurity. Based in Geneva, she is an executive fellow at the WEF, a Senior Advisor at Sandbox AQ and has various board roles.  We are also fellow alums of INSEAD.Our conversation cycles through the promise and challenges of AI, and the future of quantum computing.  Given Kelly's board roles we discuss how best to get board members on the learning curve on these complex and ever changing topics and discuss the challenges of building cyber resilience in the current climate. We end with a discussion of the level of diversity within STEM and what can be done to move the needle.This is an outstanding study of a career defined by non-conformity but evidenced by brilliance, advocacy and a sense that nothing is impossible. 

Stephanie Niven is a Global Sustainable Equity Portfolio Manager at Ninety One. She started her career as an equity analyst and subsequently held a series of portfolio management roles.  She was previously an ambassador for the Diversity Project and sits on the Advisory Board of Girls Who Invest. Our conversation traces Stephanie's love of sport, and water polo in particular, and we discuss how that primed her for a career in investing.  We dig in then to what is sustainable equity and what sustainable investing means to her today, tackling head on the headwinds that this strategy is facing.Because this is a subject that is core to the mission and purpose of Ninety One we also cover culture in an investment team, how to nurture it and how to know when it is working. This episode of the Fiftyfaces Podcast is proudly brought to you by bfinance—a trusted partner to the world's leading institutional investors. With a proven track record in strategy, implementation, and oversight, bfinance delivers bespoke investment consultancy that empowers asset owners to achieve their unique objectives. Whether it's refining portfolio strategy, selecting fund managers, monitoring performance or getting better value for money, bfinance combines global expertise with tailored solutions to unlock value for their clients. To learn more about how they've supported over 500 clients in 45 countries, managing assets totalling over $9 trillion, visit bfinance.com.

Our guests on this episode, Rob Gardner and Eoin Murray, both previous guests on this podcast, join us again to discuss how they have come together at Rebalance Earth.  Rob is the CEO and CoFounder of Rebalance Earth, which redirects the flow of capital to protect and restore nature at scale. He was a guest on this podcast in 2021 when we discussed his Redington journey and again last year when we discussed his book EARN IT, KEEP IT, GROW IT. Eoin is the incoming CIO of Rebalance Earth, and was also a guest on this podcast in 2021.  He was formerly Head of Investments at Federated Hermes International. I have gathered Eoin and Rob together to discuss the vision and future outlook for Rebalance Earth, and we start by looking at the case for investing in nature and how instruments and markets have evolved to make this doable. We speak about the hydrology cycle, and how water, not carbon, lies at the heart of bio-diversity preservation as well as many of the risk factors facing companies whether from a shortage of water or an excess of it (flooding). We address the current zeitgeist, and the push back around net zero alliances and sustainable finance in general, and Rob and Eoin share some interesting perspectives. You can listen to Rob's previous podcasts here: https://www.fiftyfaceshub.com/281-rob-gardner-on-attaining-financial-freedom-the-secret-of-earn-it-keep-it-grow-it/ (on Financial Freedom) and here: https://www.fiftyfaceshub.com/robert-gardner-how-to-make-money-a-force-for-good/ and Eoin's podcast is here: https://www.fiftyfaceshub.com/eoin-murray-of-federated-hermes-sustainable-investing-and-mountain-and-water-rescue/This episode of the Fiftyfaces Podcast is proudly brought to you by bfinance—a trusted partner to the world's leading institutional investors. With a proven track record in strategy, implementation, and oversight, bfinance delivers bespoke investment consultancy that empowers asset owners to achieve their unique objectives. Whether it's refining portfolio strategy, selecting fund managers, monitoring performance or getting better value for money, bfinance combines global expertise with tailored solutions to unlock value for their clients. To learn more about how they've supported over 500 clients in 45 countries, managing assets totalling over $9 trillion, visit bfinance.com.

Anastasia Guha is a sustainable investing expert at Redington with over 17 years of experience.  She advises on sustainable investing strategy and beliefs, best practices for integrating ESG factors into investment projects, engagement and ESG reporting and measurement. Our conversation starts with Anastasia's roots and the discipline of learning that was laid down within her family. We then trace her career moves through consulting into her current sustainable finance expertise and start a whistle stop tour of the topics, controversies and progress that has been made in sustainable finance throughout her career to date, and we craft an outlook as to what is on the horizon.We examine the disconnect between volume of data and saliency, and discuss this as a continuously iterative discipline of always asking what the meaning of certain data and its intended use is. We move then to the role of engagement and the possibility of making change - whether on the social side through engagement and in other areas. We discuss the effectiveness of emissions disclosures, the current backlash against ESG investing and the likely evolution of this area over coming years. This is a riveting discussion grounded in common sense that is more important now than ever.

In this podcast - which was recorded with co-host Tom Raber of Alvine Capital, the co-hosts sit down with Björn Thelander, who is an experienced Family Office manager with broad international investment and industrial experience. His background is varied and involved many stints in emerging markets, punctuated by market crises which often necessitated a pivot - or two. We discuss how this shaped Björn in terms of his world view, his appetite for risk and his tolerance for volatility. We then trace his journey through investment banking, investment management, time at food-packaging giant Tetra Laval, a stint as an entrepreneur and his most recent role, as CIO at the James Dyson family office, Weybourne. He recently left this role and we discuss what the next chapter holds. Björn has a wide range of interests and experience, and this is reflected in his taste for "off the run" investments. We discuss the opportunity in Argentina and the reforms ushered in by Javier Milei, and debate the promise of Bitcoin and other digital assets, where Björn has had an early interest. On the personal side we examine Björn's competitive nature, his love of sports and recent books and other interests.This episode of the Fiftyfaces Podcast is proudly brought to you by bfinance—a trusted partner to the world's leading institutional investors. With a proven track record in strategy, implementation, and oversight, bfinance delivers bespoke investment consultancy that empowers asset owners to achieve their unique objectives. Whether it's refining portfolio strategy, selecting fund managers, monitoring performance or getting better value for money, bfinance combines global expertise with tailored solutions to unlock value for their clients. To learn more about how they've supported over 500 clients in 45 countries, managing assets totalling over $9 trillion, visit bfinance.com.

In this second of our short series reflecting on the lessons and takeaways of the 2024 year in The Fiftyfaces Podcast, we chat with Jeanie Coomber, executive coach and podcast host who featured on our podcast this year in Episode 278 (https://www.fiftyfaceshub.com/278-jeanie-coomber-a-chief-igniter-encourages-us-to-become-warriors-at-work/). Jeanie is the founder of the Warriors at Work platform, and an executive coach and we take this time to reflect on intention and using the year that was to shape the year that is to come.Jeanie's style as a coach shines through brightly in this conversation, where she asks Aoifinn what she wants to do, to be and to have in 2025.  We discuss the matter of personal brand, finding voice and making an impact as well as the need to evolve with any communications format. We end our interview with turning the tables back to Jeanie to hear about her own plans with respect to her own podcast (now celebrating its fifth anniversary) and her coaching business (now celebrating its 20th year), to reflect the current world of work. 

In this podcast John Harney, associate partner at AON, actuary and expert on pensions - see https://www.linkedin.com/in/johnwilliamharney/ leads the discussion on what was learned over the course of 2024 - how we separated the wood from the trees and what trends we perceived. Both Episode 270 Penny Green (https://www.fiftyfaceshub.com/270-penny-green-pensions-and-trustee-veteran-putting-members-at-the-heart-of-everything/) and Episode 289 Carol Geremia (https://www.fiftyfaceshub.com/289-carol-geremia-of-mfs-investment-management-why-fiduciary-responsibility-is-always-in-fashion/) have as their touchstones the end use - whether the beneficiaries of pension funds or consumers of investment products. Getting back to the wood from the trees we look at the growth of Total Return investing, in two conversations with sovereign wealth funds - both Derek Walker of CPP Investments (Episode 260 https://www.fiftyfaceshub.com/260-derek-walker-of-cpp-investments-total-return-for-the-portfolio-of-tomorrow/) as well as former CEO of NZ Super Fund Matt Whineray (Episode 287, https://www.fiftyfaceshub.com/287-matt-whineray-former-ceo-of-nz-super-fund-towards-a-total-fund-portfolio-aproach/). In the discussion with emerging managers spotting opportunity we cite the podcasts with Raudline Etienne (Episode 291 https://www.fiftyfaceshub.com/291-raudline-etienne-of-daraja-capital-the-power-of-being-first-when-scouring-for-talent/) and Hallie Label (Episode 249 https://www.fiftyfaceshub.com/249-hallie-label-of-expect-equity-what-to-expect-when-youre-nurturing-investment-managers/) We also cite the most downloaded podcast of the year Episode 261 with David Golub (https://www.fiftyfaceshub.com/261-david-golub-of-golub-capital-giving-culture-the-credit/) and its focus on culture as well as the emerging importance of private credit made for a fascinating discussion.

Steve Neel is Deputy Chief Investment Officer at the New Mexico Educational Retirement Board.  He spearheads the substantial alternative investing program at the fund. Our conversation starts with Steve's childhood in the wettest state in the US – Hawaii – and how he ended up in one of the driest – New Mexico.   We discuss his ascent through the ranks at the New Mexico Educational Retirement Board, some of the mentors who helped to shape his approach and the approach to building a diversified alternatives portfolio that the fund has adopted. From what to order on a menu in New Mexico to how to build a fruitful strategic partnership this discussion is packed with fresh, relatable insights about the world of investing and beyond.  This podcast is brought to you with the kind support of bfinance—a trusted partner to the world's leading institutional investors. With a proven track record in strategy, implementation, and oversight, bfinance delivers bespoke investment consultancy that empowers asset owners to achieve their unique objectives. Whether it's refining portfolio strategy, selecting fund managers, monitoring performance or getting better value for money, bfinance combines global expertise with tailored solutions to unlock value for their clients. To learn more about how they've supported over 500 clients in 45 countries, managing assets totalling over $9 trillion, visit bfinance.com. 

Do you ever over order? This year, as is the case every year we were bursting at the seams with guests and talent here at Fiftyfaces Productions and were delighted to produce a bonus series featuring 8 inspiring guests at the end of 2024. We hope you can take some time over the break to listen back to some big themes – neurodivergence and the workforce, system change, moonshots and deep dives - all delivered in bite size chunks. From an asset management president who started out in fashion and used that to put the client at the heart to a stewardship expert who pursued his moon shot, each story is unique and fascinating. We hear from the CEO of the NZ Super Fund about the philosophy that guided him towards a total portfolio approach at the 77 Billion NZ fund and an expert on system change on the challenge and opportunity that it presents. We speak with an economist who translates the volatility of markets into a professional context and an investment consultant who defied expectations to forge a stellar career despite losing his site at the age of 7. Returning to the theme of neurodivergence in the workforce we speak with the founder of a new website for neurodivergent individuals and we end with the compelling tale of an allocator who learned how to spot talented investors and is using her position now to fuel their growth.The Bonus series features: Lindsey Stewart, Raudline Etienne, Matt Whineray, Carol Geremia, Steve Foresti, Frank Dixon and Tiffany Wilding as well as special guest Veena Aiyer.  So take some time to listen back to our 58 podcasts of 2024, send us your comments, feedback and ideas for new guests, and if you can, please support us on Patreon.  Thank you to Apollo, Resolute Investment Management, Alvine Capital, PIMCO, GCM Grosvenor, Nuveen, JP Morgan Chase, Ninety One, Eagle Point, Ruffer, With Intelligence, Longview Productions and all of our supporters over the course of 2024 

Raudline Etienne is the Founder and CEO of Daraja Capital, an investment and advisory firm providing seed capital to new, diversely owned, private fund managers and independent sponsors. She has over 25 years of experience in institutional investing and consulting and previously served as CIO for the New York State Common Retirement Fund, the third largest public fund in the U.S. Prior to her role as CIO, she spent more than a decade advising institutional investors at various firms and holds a number of trustee and board roles.  We start by discussing her roots in architecture and the structure and scaffolding as well as discipline that it enabled her to bring to her investing career. When discussing managing a team at the New York State Common Retirement Fund she discusses developing green and opportunity portfolios, and how this open door approach enabled them to identify new and original talent. Moving then to her work at Daraja, we trace the discipline of “spotting talent” which was enabled through her time as a consultant and as an allocator.  We also talk about the art of growing an investment management business, the barriers to entry and how to overcome them. This podcast is brought to you with the kind support of Longview Productions. At Fiftyfaces Productions Ltd. we want to hear from you!We are now at over 290 podcasts in the main  #fiftyfacespodcast and over 300 including our spin-off series and special themes.We have championed hundreds of stories and amplified hundreds of role models. We have discussed difficult topics and empowering ones, and have moved the conversation on at every turn.Now, as we look to 2025, we want to continue to improve and develop content that adds to the richness of our professional lives with no agenda other than to enable more people to achieve their potential.Please #write to us, #comment here or #complete the google form here https://lnkd.in/gj54v3Zz to tell us what you like, dislike and how we can improve. And you can always support us on Patreon here https://lnkd.in/gQ7zmEuB. Every little helps.

Frank Dixon is an expert on Systems Change.  He has been interested in sustainability since his MBA, joined one of the first ESG research firms, saw ESG wasn't enough, and has been working on system change ever since.  Our conversation traces the evolution of Frank's thinking around the need for system change and what this actually means. He established Global System Change and developed the System Change Investing (SCI) approach. It provided the first model for rating companies on system change performance and integrating system change into corporate sustainability strategies.He also developed a true whole system approach to sustainability, described in the Global System Change books. It provides systemic solutions for all major areas of society. In the financial and corporate sectors, SCI offers the most advanced and effective sustainability strategies.We discuss the rising pushback against responsible investing/corporate sustainability and Frank argues that current approaches were not coming close to resolving SDG problems, even under supportive administrations.   He now is of the opinion that system change will dominate the sustainability field at some point, arguing that as our systems continue to break down and cause growing problems for companies, investors and society, we'll realize that we must change them to turn things around and avoid catastrophic collapse.  This podcast is brought to you with the kind support of Longview Productions. 

Carol Geremia is president of MFS Investment Management® (MFS®) and head of Global Distribution. She leads the firm's worldwide client-facing teams as well as product and marketing strategy. Since joining MFS in 1984, Carol has held roles focused primarily on fiduciary responsibility, stewardship and sustainability, and she has actively engaged with clients at all levels to ensure that the firm builds products and services aligned with their needs. Carol is a member of the Investment Company Institute's Board of Governors, the City Year Seven Generations Board, the MFS Charitable Oversight Committee and as an Advisory Council member for Bridge Over Troubled Waters, Inc. Carol's career journey had an unconventional start in that she initially pursued a career in fashion.  We probe this intriguing fact and consider the similarities between the two worlds of fashion and investing. One aspect that is similar is the existence of trends and fads – and the importance of developing an eye to detect one forming and then of discerning which ones are likely to endure.  When we translate this into the world of investment products it is clear that investing also has cycles, fads and fashions and that “reading the room” or client appetite in this respect is a critical skill.  Carol charts her rise through MFS by referring back to a common touchstone – the importance of putting clients first.  She describes her mentors, and how she learned to overcome anxiety around performance in front of clients and how critical it was that she had found a home in which it was possible for her to be her authentic self.  This is a searing portrait of leadership through compassion and self-awareness.   This podcast is brought to you with the kind support of Longview Productions. 

Steve Foresti is a Senior Advisor, Investments, at Wilshire, where he has spent almost 30 years.  He previously held a role as Chief Investment Officer, among other roles and is currently in a part-time role as he pursues other interests.  Steve was recommended to us as a guest because of his extraordinary career arc in which he overcame a substantial loss of vision as a child to pursue a fulfilling career. We begin by discussing Steve's career journey and turn then to the nature of the condition that caused his loss of vision from the age of around 7 and his family's coping strategy at that time.  We hear about his parents' efforts to ensure he was in the right educational stream and challenged at every opportunity. It was at this stage that it became clear how much setting the bar high and having high expectations mattered.  Taking this theme forward into his career, we hear about the colleague whose small gestures such as giving him a ride to work and allowing him to avoid a long commute made a massive difference to his quality of life, and then discuss the technological advances that have made impaired vision less of a hindrance in the work place. This podcast is brought to you with the kind support of Longview Productions.  

Matt Whineray recently retired from the role of Chief Executive Officer at the NZ$77 bn NZ Super Fund, where he had spent close to 16 years in a series of roles, culminating in CEO but which included 4 years as CIO. He previously worked in a series of corporate finance roles, and currently holds a number of Chair and Board roles. Our conversation starts with his early career in finance, which saw him move from New Zealand to New York and Hong Kong.  We discuss the moment he knew that he wanted to take his family back to New Zealand and its natural bounty and how he acted upon that.  Moving then to his role at the NZ Super Fund we discuss the nature of the entity, its governance and overarching objective.   As one of the instigators of a total fund portfolio approach, we dig in in some detail as to what that means and how it evolved. There are various other unique characteristics of NZ Super too and Matt discusses its commitments around sustainable investing and what return and volatility it could tolerate. We end with Matt's current chapter, a retirement that includes a portfolio of board roles including Netball New Zealand as well as a good deal of travel. This is a fascinating insight into a unique institution that punches well above its weight in investment innovation. At Fiftyfaces Productions Ltd. we want to hear from you!We are now at 284 podcasts in the main  #fiftyfacespodcast and over 300 including our spin-off series and special themes.We have championed hundreds of stories and amplified hundreds of role models. We have discussed difficult topics and empowering ones, and have moved the conversation on at every turn.Now, as we look to 2025, we want to continue to improve and develop content that adds to the richness of our professional lives with no agenda other than to enable more people to achieve their potential.Please #write to us, #comment here or #complete the google form here https://lnkd.in/gj54v3Zz to tell us what you like, dislike and how we can improve. And you can always support us on Patreon here https://lnkd.in/gQ7zmEuB. Every little helps. 

Tiffany Wilding is a managing director and economist based in the Newport Beach office of PIMCO.  She leads PIMCO's Cyclical Forum, crafts the firm's outlook for the global economy, and analyzes key macro risks for the firm's Investment Committee. Previously, she was a U.S. interest rate strategist in two firms and a Treasury market policy analyst for the Federal Reserve Bank of New York, where she helped structure and implement the central bank's response to the 2008 financial crisis.Our discussion starts with Tiffany's path through finance and spends quite a bit of time discussing her learnings from her time at the Federal Reserve Bank of New York during the financial crisis. We speak about the toolbox available to an institution like this during a crisis and how calm heads must prevail.  Moving then to her role at PIMCO we discuss client needs and how they are evolving as well as the work of the secular forum and what is on their mind against the current backdrop. At Fiftyfaces Productions Ltd. we want to hear from you!We are now at 284 podcasts in the main  #fiftyfacespodcast and over 300 including our spin-off series and special themes.We have championed hundreds of stories and amplified hundreds of role models. We have discussed difficult topics and empowering ones, and have moved the conversation on at every turn.Now, as we look to 2025, we want to continue to improve and develop content that adds to the richness of our professional lives with no agenda other than to enable more people to achieve their potential.Please #write to us, #comment here or #complete the google form here https://lnkd.in/gj54v3Zz to tell us what you like, dislike and how we can improve. And you can always support us on Patreon here https://lnkd.in/gQ7zmEuB. Every little helps.

Veena Aiyer has launched a community app for neurodiverse audiences called QRKIEZ.  The goal of QRKIEZ is to be an innovative platform designed to support neurodivergent individuals by fostering social connections, providing mentorship and offering tailored professional services. She previously worked in a series of startups  and tech companies. In our conversation Veena describes her upbringing in India and the path that took her to the US.  She describes her own discovery of neurodivergence and what prompted her to seek to create a means for other neurodivergent individuals to connect and exchange ideas.  We discuss what is missing in the job market and social media universe for this cohort and how simple features of an app can make such a difference. The app aims to connect neurodivergent individuals who share similar interests and passions and has a mission to facilitate the formation of friendships, mentorships, and support services for the neurodivergent, and gain access to service providers, job postings, and other information of interest, help, and fun. Parent and family support are offered as well, and all allies are welcome. There is more information about QRKIEZ on https://www.qrkiez.com/, where you can also sign up in advance for the soon-to-be launched App.

Lindsey Stewart is Director of Stewardship Research and Policy at Morningstar Sustainanalytics, where he is a sustainability and governance specialist. Based in London he writes regularly about how institutional investors engage with companies and policymakers on environmental, social and governance themes and is a regular speaker on these topics. He previously was head of Stakeholder Engagement at the Financial Reporting Council and spent 8 years at KPMG in various engagement roles. Our conversation starts with Lindsey's unconventional background where he approached finance straight from school instead of via a traditional college degree.  He describes it as a “moon shot” and details his journey into a governance specialists role, and some of the disorientation he experienced once he “landed” on the moon. This leads to a discussion around socio-economic mobility and the profession more generally and we look at the scaffolding that can enable such moves. We turn then to a discussion of the current state of sustainability data, where the world of engagement has moved to and challenges and opportunities that lie ahead for the area of sustainable investing.

Julie Koeninger is Managing Director and Senior Portfolio Manager in Agriculture at Manulife Investment Management, where she serves as the senior agricultural portfolio manager for the Hancock Timberland and Farmland Fund and leads business development for Manulife Investment Management global agriculture strategy.  She has over 30 years of experience in agriculture investing, having worked in a series of roles at other institutions prior to joining Manulife and led the first ever securitization of US Agricultural mortgages.   Our conversation traces Julie's career at the intersection of infrastructure and finance and the evolution of those industries in terms of product creation and understanding of the asset class. We examine some of the lateral moves that Julie made throughout her career and how they contributed to her growth as a professional.  We spend some time on the innovations in products centered around agriculture and look at how investors are treating agriculture within the context of their overall portfolio.  This podcast is kindly supported by GCM Grosvenor. GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity across alternative investments.  With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenor leverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.com.

Mike Tiedemann was a Founding Partner, CEO and Chairman of the Internal Investment Committee at Tiedemann Advisors, as well as CEO at Tiedemann Investment Group (TIG), before leading the merger that created AlTi. Early in his career, Mike lived and worked in Brazil as part of the equity research group at Banco Garantia and later ran the equity sales and trading operations for Latin America.Mike serves on the board of multiple organizations and has been recognized multiple times for his contributions to charitable causes. He founded and chairs The River Fund, a nonprofit that provides food, education and support services to help families in New York City break the cycle of poverty.Our conversation starts with Mike's experience in emerging markets and how that set the tone for the rest of his career – leading to a comfort level with uncertainty and a tolerance for volatility. We move then to discuss his founder role in a financial firm, and how he experienced a merger of that firm and the dynamics that went with it. Finally we end our discussion with a deep dive into the issues that are close to Michaels' heart and why.  This podcast is kindly supported by GCM Grosvenor. GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity across alternative investments.  With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenor leverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.com. 

Sarah Fromson, who is Chair of the Cambridge University Endowment Fund Investment Advisory Board.  She also holds a number of other Non Executive Board roles, including at the Calouste Gulbenkian Foundation, Quilter Investors, Capital Generation Partners among others. She spent 11 years as head of Investment Risk at the Wellcome Trust and prior to that was a Chief Investment Risk Officer at RBS Asset Management.  Our conversation starts with Sarah's ascent through the City in various investment and risk roles and discuss the evolution of the risk management function. We discuss how norms and corporate culture changed during this time, and how risk was handled at Wellcome Trust. We move then to discuss her portfolio career and what it takes to be an effective board member and chair.    This podcast is kindly supported by GCM Grosvenor. GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity across alternative investments.  With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenor leverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.com.

Rob Gardner is the CEO and Co-Founder of Rebalance Earth, which redirects the flow of capital to protect and restore nature at scale, He was a guest on this podcast in 2021, and that show is available here.  He has recently written a book with the title FR££DOM, which advocates three money moves to transform your finances. EARN IT, KEEP IT, GROW IT. This is just one part of his career-long mission to further financial literacy, education and investing for a world worth living in.  This podcast is mainly focused on the book FR££DOM, which is designed as a toolkit for young people to enjoy financial freedom.  We talk about the different attitudes to money and different needs as well as the shifting priorities of generations – e.g. the current young generation seeking to own less and experience more.  On the topic of saving, we discuss how most people are not wired to save and the rise of credit – such as Buy Now Pay Later Schemes. We move then to discuss previous economic crises/property market crashes and what they teach us in terms of fiscal discipline and then discuss the two chapters in the book dedicated to digital assets and crypto currencies. This podcast is kindly supported by GCM Grosvenor. GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity across alternative investments.  With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenor leverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.com.

"An investment in education gives the best returns” Benjamin FranklinTony Miller is managing director of Excolere Equity Partners, a private equity firm focused on the education space.  He holds a number of board roles including Apollo Education group, ACT, Criteria Corp and Go Guardian.  He was co-founder of the Vistria Group, a Chicago based private equity firm and prior to that was Deputy Secretary and Chief Operating Officer in the US Department of Education.  Our conversation traces his extensive career in education, including roles at McKinsey, Silver Lake, Vistria and the US Department of Education. He emphasizes the importance of deploying private capital in education to achieve significant impact at scale and highlights the need for innovative solutions that can be scaled across various educational sectors.  We turn then to the potential role of AI in transforming education, and how to align financial returns with educational outcomes. Miller underscores the significance of diversity and inclusion in education and shares personal reflections on career highs and lows. This podcast is kindly supported by GCM Grosvenor. GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity across alternative investments.  With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenor leverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.com. 

Ilya Zaides is CIO and Founder of 14B. He started his career as a lawyer, eventually transitioning to an allocator role within two leading hedge fund allocators. He then made a switch into fund management, founding 14B 15 years ago.Our conversation starts with Ilya's childhood and the impact of his parent's immigrant's journey – in which they   traveled from the former Soviet Union. We examine the impact that this has on work ethic, subject choice, and some of the philosophical underpinnings that he inherited from his parents.We speak about his own journey from law, what it was that he didn't enjoy about this area of study, and how he transitioned into the world of investment. We turn then to his current focus at 14B and the challenge of navigating the current turmoil in markets. This podcast is kindly supported by GCM Grosvenor. GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity acrossalternative investments. With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenor leverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.com.

Jeanie Coomber is the founder of the Warriors at Work platform, and an executive coach.  Our discussion charts her journey from a corporate career at Alliance Bernstein to becoming a coach. We talk about the personality type necessary to be a coach, and Jeanie Coomber highlighted her unique approach to coaching, integrating her mother's psychotherapy expertise. There is more information on the Warriors at Work platform here: https://jeaniecoomber.com/warriors-at-work-show/In discussing what she is tackling in her coaching conversations today, we also discussed the evolving needs of executives, such as navigating politics and fostering human-oriented conversations. Jeanie emphasized the importance of courageous conversations and self-reflection. She shared challenges that have been faced, including starting her business post-maternity leave and managing her family medical issues.  This podcast is kindly supported by GCM Grosvenor. GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity across alternative investments.  With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenor leverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.com.

Shan Chen was until recently a portfolio manager focused on mostly private investments at the Arizona Public Safety Personnel Retirement System, where he spent over 17 years. He previously worked primarily within information technology and did research work in biochemistry. He has recently retired from the PSPRS and is focusing full time on developing AI solutions for investment management.  Our conversation traces his route into the investment world from his science background and his years of learning under the leadership of Mark Steed, CIO at the PSPRS, whose podcast we captured in July 2021.  We move then to the innovation in place at the PSPRS investment process including the development of more refined and reliable predictions and the embrace of machine learning. We examine the potential for this in the asset allocation function  as well as how AI can assist allocators with getting through the sheer mass of information and documents that they face.  This is a self-aware retrospective by a member of the most forward thinking investment offices in the US public fund arena. This podcast is kindly supported by GCM Grosvenor. GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity across alternative investments.  With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenor leverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.com.

Wendy Li is the co-founder and CIO of Ivy Invest, a FinTech asset management firm.  She previously worked in the investment office of the endowment of New York's Metropolitan Museum of Art. In our discussion we start with her immigrant background in Pennsylvania, and her ascent through studying finance to a role in an allocator. Our discussion then turns to the founder's journey - the challenge and opportunity that FinTech and WealthTech present, and why the human element is unlikely to be replaced fully.  Wendy emphasized the value of mentorship and the significance of giving back to the community through nonprofits like EWAAB and Flight Path Dance Project. Wendy has a newsletter, which can be accessed here: askacio.ivyinvest.coThis podcast is kindly supported by GCM Grosvenor. GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity across alternative investments.  With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenor leverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.com.

Jennifer Ryan is Head of North American Distribution at Lazard Asset Management.  She previously was Head of UK Institutional Sales at BlackRock and Head of the US Institutional Pensions at Blackrock, and started her career at Goldman Sachs.In our conversation we tackle the craft of fund distribution, and Jennifer highlights the importance of understanding client ecosystems, building trust, and adapting to evolving client needs. She stresses the significance of team-based approaches and mentorship in her success. Moving to the changing shape of the institutional landscape Jennifer notes the impact of market changes, such as the shift to private markets and the generational shift in CIOs, on client needs. We talk about the importance of honesty and transparency in client relationships and return to the oft-repeated themes of risk-taking and investing in networks.GCM Grosvenor is a global alternative asset management firm with a longstanding commitment to supporting small, emerging, and diverse investment managers. For over 30 years, the firm has developed expertise in funding and guiding these managers as part of its broader activity across alternative investments. With over $20 billion in AUM dedicated to small and emerging managers and $16 billion in AUM dedicated to diverse managers, GCM Grosvenorleverages its experienced team, broad network, and proprietary sourcing capabilities to support their success. Through the Small, Emerging, and Diverse Manager Program, the firm creates opportunities for investors to access a wide range of talent while seeking to drive strong returns and impact. For more information, visit www.gcmgrosvenor.com.