Podcasts about co head

Title: Sports Consulting, Brands, and AgenciesGuest: Michael Neuman, Co-Head of Consulting at Playfly Sports

David chats with Tara Davies, Co-Head of European Infrastructure and Co-Head of EMEA at KKR, one of the world's most influential alternative investment firms. Tara's career spans two decades at the top of global infrastructure investing, from Macquarie in the formative years of privatisations to now helping lead KKR through one of the largest capital deployment cycles in history. For investors watching the rapid rise of private markets, particularly those curious about how KKR thinks about risk, returns, leverage, vintages, AI-driven infrastructure, and liquidity in evergreen structures, this is a rare opportunity to hear it directly from someone charged with allocating tens of billions globally. Tara brings depth of cycle-tested judgment and unpacks how KKR underwrites downside, protects capital, and finds differentiated returns across energy transition, digital infrastructure, and private credit–linked opportunities. Listen to hear about: * How KKR defines “true infrastructure” — and where the market is mispricing risk * Why AI is turbo-charging transmission, renewables, and data-center build-out globally * The move from closed-end drawdown funds to evergreen vehicles designed for private clients * The role of vintage-year diversification as the stealth driver of long-term returns * How to think about debt discipline in an era where leverage is the thing that kills good assets This is a masterclass in private markets from one of the most senior women in global investing, and a rare transparent look “inside the room” at KKR's worldview on infrastructure as an asset class for wealth preservation and compounding.

What does it take to build a value-creation engine that scales across portfolios, empowers CEOs, and blends purpose with performance?In this episode, host Linnea Jungnelius sits down with Tory Ramaker, Senior Partner and Co-Head of Vistria PRG, LLC ("Portfolio Resources Group") at The Vistria Group, one of the private-equity industry's most forward-thinking operating leaders.From founding the PRG from the ground up to re-engineering how portfolio teams drive transformation, Tory shares what it really means to create impact in essential industries — where financial returns and societal outcomes go hand in hand.For Operating Partners, CEOs, and investors alike, this conversation breaks down the next generation of value creation, grounded in partnership, empathy, and disciplined execution.What You'll Learn:• How to architect a portfolio operations model that bridges strategy and execution• Why management ownership, not investor direction, determines success• The playbook for aligning boards, sponsors, and CEOs around one value-creation plan• Why the best portfolio leaders blend consulting rigor with real operating experience• The leadership balance between autonomy and accountability that builds lasting trustTimecodes00:00 Intro00:15 Guest Introduction: Tory Ramaker, The Vistria Group00:54 Early Lessons in Resilience and Adaptability02:26 Learning to Influence: From Data and Logic to Empathy07:13 Building the PRG: Founding Vision and Early Model08:04 Evolving the Model: From Generalists to Functional Specialists09:51 Portfolio Priorities: Technology, Talent, and Finance11:06 Hiring Strategy: Product-Minded Tech Leaders and PE-Proven CFOs11:45 Next-Gen Operating Talent: Consulting Rigor Meets Operating Experience13:00 Operating Model Shift: Fewer Companies, Deeper Engagement14:33 Value Creation Planning: It Must Be Management's Plan15:14 Execution and Measurement: Defining Success Metrics17:03 Integrating Impact: Embedding Purpose into Value Creation19:00 Partnering with CEOs: Building Trust and Candid Collaboration21:03 Leadership Alignment: Autonomy with Accountability22:35 Co-Investment Collaboration: Clarity and Over-Communication23:46 Change Leadership: Applying AI and Data to Transformation26:42 Capacity Discipline: Forced Scarcity and Strategic Resourcing29:15 Leadership Standard: Autonomy with Accountability31:39 Human Capital Playbook: Assessments, Coaching, and CEO Readiness36:20 Leadership Evolution: EQ Over IQ38:19 Lightning Round: Personal Reflections Resources:Tory Ramaker:LinkedIn: ⁠https://www.linkedin.com/in/tory-ramaker-a077141/ Linnea Jungnelius:LinkedIn: https://⁠www.linkedin.com/in/linneajungnelius ⁠X: ⁠https://x.com/itslinnea⁠Explore the Podcast:Spotify: ⁠https://acertitu.de/tory-ramaker-spotify-podcastApple Podcasts: ⁠https://acertitu.de/tory-ramaker-apple-podcast⁠Blog: ⁠https://acertitu.de/tory-ramaker-blog⁠Found Value?

David chats with Tara Davies, Co-Head of European Infrastructure and Co-Head of EMEA at KKR, one of the world's most influential alternative investment firms. Tara's career spans two decades at the top of global infrastructure investing, from Macquarie in the formative years of privatisations to now helping lead KKR through one of the largest capital deployment cycles in history. For investors watching the rapid rise of private markets, particularly those curious about how KKR thinks about risk, returns, leverage, vintages, AI-driven infrastructure, and liquidity in evergreen structures, this is a rare opportunity to hear it directly from someone charged with allocating tens of billions globally. Tara brings depth of cycle-tested judgment and unpacks how KKR underwrites downside, protects capital, and finds differentiated returns across energy transition, digital infrastructure, and private credit–linked opportunities. Listen to hear about: * How KKR defines “true infrastructure” — and where the market is mispricing risk * Why AI is turbo-charging transmission, renewables, and data-center build-out globally * The move from closed-end drawdown funds to evergreen vehicles designed for private clients * The role of vintage-year diversification as the stealth driver of long-term returns * How to think about debt discipline in an era where leverage is the thing that kills good assets This is a masterclass in private markets from one of the most senior women in global investing, and a rare transparent look “inside the room” at KKR's worldview on infrastructure as an asset class for wealth preservation and compounding.

Are you wondering how to make your money work for you after retirement? In this episode of Everything Counts, host Motheo Khoaripe sits down once again with Kate Robson, Co-Head of Investec My Investments, and Johan Loubser, Head of Adviser Enablement at Investec, to unpack the realities of managing your money post-retirement. From understanding Regulation 28 of the Pension Funds Act and choosing the right financial advisor, to navigating investment and savings strategies, insurance needs, and avoiding impulsive financial decisions, this conversation is your complete guide to maintaining financial stability in retirement. Learn how to balance spending and investing wisely, when to seek a second opinion on your financial plan, and what to consider if you're supporting loved ones as a breadwinner in your later years. Whether you've just retired, are planning to soon, or want to future-proof your finances, this episode gives you the tools, insights, and confidence to make every Rand count long after you've stopped working. 00:00 Introduction 01:50 Post-retirement financial management 05:00 How careful do you need to be with your money after retirement? 06:00 How to manage retirement funds before you retire 07:30 How a financial adviser can help with financial planning post-retirement 09:21 Understanding Regulation 28 of the Pension Funds Act 10:10 What should you look for in a financial adviser? 12:15 Should you get a second opinion on financial advice? 13:49 Investment and savings strategies post-retirement 17:00 Do you need insurance for retirement? 19:33 Managing retirement funds as a breadwinner 21:35 How to avoid being impulsive with the money you get after retirement 25:00 Key points to consider post-retirement 28:00 Conclusion Investec Focus Radio SA

Andy Hill, Co-Head of Market Practice and Regulatory Policy, discusses bond market axe distribution standards.

Natalie Westerbarkey, Co-Head of Market Practice and Regulatory Policy, explores lessons from the EU consultation on building integrated bond markets and summarises ICMA's vision.

Andy Hill, Co-Head of Market Practice and Regulatory Policy, seeks to address some common misconceptions around repo haircuts.

Natalie Westerbarkey, Co-Head of Market Practice and Regulatory Policy, talks through ICMA's bond market policy mind map & ecosystem.

At the Global Markets Forum hosted at OTC Markets Group's New York office, three leading exchange executives Jason Paltrowitz, Executive Vice President of OTC Markets Group; James Black, Vice President of the Canadian Securities Exchange; and Steve Henney, Co-Head of Business Development for the Aquis Stock Exchange joined Steve Darling from Proactive to discuss the evolving landscape of public market access and global investor engagement. Paltrowitz highlighted the OTC Markets' pivotal role as the largest U.S. stock market for non-U.S. equities, helping early-stage and international companies reach U.S. investors more efficiently. “We preach from the same hymnal,” he said, emphasizing the shared commitment between OTC Markets, CSE, and Aquis to make public markets more open, efficient, and accessible worldwide. Representing the CSE, Black spoke about the exchange's mission to support small and medium-sized enterprises seeking to raise public venture capital. He noted a strong synergy with OTC Markets, which helps CSE-listed issuers expand visibility and attract investment from U.S. capital markets. Henney provided the UK perspective, describing Aquis as a growth-focused exchange designed to give early-stage companies global exposure. He pointed to signs of recovery in both market activity and retail investor confidence, highlighting a robust IPO pipeline building over the next six months. The discussion also touched on improving market dynamics and increasing investor participation across regions. Black shared that the CSE is already $1 billion ahead of last year's performance, while Paltrowitz noted a significant uptick in trading volumes on the OTC particularly in the UK, Canada, and Germany as U.S. investors continue to look abroad for growth opportunities. All three leaders underscored the importance of long-term issuer support, consistent investor engagement, and cross-border collaboration to drive market strength. As Black concluded, “We have to provide optionality to our clients, it's not just happening in our own backyard.” #proactiveinvestors #otcmarkets #cse #aquisstockexchange #GlobalMarkets #PublicListings #InvestorAccess #SmallCapStocks #IPOMarket #StockMarketInsights #CapitalMarkets #MarketRecovery #USInvestors #InternationalListings #EquityMarkets #ProactiveInvestors

Host Ed Crooks talks to Jason Liu, Chief Executive of Wood Mackenzie and co-author (with Chief Analyst Simon Flowers) of a new book, Connected, about the fast-changing world of energy. They are also joined by Sunaina Ocalan, formerly Senior Director for Corporate Strategy & Climate at the oil and gas company Hess, now Senior Analyst and Co-Head for Americas Energy & Transition at Bernstein Research. Together, they explore how energy leaders can plan, invest and operate operate in a world where different sectors, technologies and geographies are interconnected in more powerful and complex ways than ever before.They talk about the language of “the energy transition”, and whether it can lead to misconceptions. Global demand for hydrocarbons is still growing, and they will continue to play a critical role in our energy system for decades to come, even as new supply from renewables and other low-carbon sources surges higher. A wider appreciation of that reality is driving a shift from siloed thinking about individual sectors to integrated solutions. For example, companies are increasingly looking at pairing solar and storage with gas generation to meet demand from data centers for reliable low-carbon power.Sunaina takes us inside the the thinking of energy leaders as they assess strategies and investment decisions. She sets out a practical approach to scenario analysis, with “exit ramps” so companies can pivot as facts change. The aim isn't to predict one future, but to be ready for a range of possible outcomes. That means balancing the advantages and disadvantages of a wide range of technologies, and taking a strategic view through short-term fluctuations as far as possible. Effective decision-making is impossible without reliable data. Jason warns about three traps: using too little real data, leaning on synthetic/modelled data without ground truth, and poor integration across different sectors. Data collection technology is advancing rapidly, and with sensors, satellites and market intelligence, decision-makers can increasingly see what's really happening with precision and granular detail, often in real time.Then there's AI. Like other industries, the world of energy is being transformed by the tools that have become available over the past few years. Scenario runs have been cut from months to minutes, with hundreds of models combined to give a comprehensive coherent picture. AI tools can even assess the best models to use on particular data sets: a capability Jason calls hyper-modelling. And still there is a vital role for human intelligence and judgement, to find and interpret the information that the AI tools miss. The challenges in the energy sector today are vast. It is a cliche to say that uncertainty is higher than ever, but today it genuinely seems true. The pace of innovation in AI is changing the world in ways that have never been seen before. But the opportunity is vast, too. The energy industry will need $75 trillion or more in investment over the next 25 years, to meet ever-growing demand while reducing the impact on the environment. The businesses that succeed in making the most of this opportunity will be the ones that get three things right: the right data, the right AI capabilities, and the right people, all brought together to deliver actionable insights. Download the book (free): Connected: Bringing predictability to the increasingly uncertain world of energy.Let us know what you think. We're on X, at @theenergygang and Bluesky, at ‪@theenergygang.bsky.social. Make sure you're following the show so you don't miss an episode.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

After a tremendous rally for US equities, could more gains be ahead – or is it time for investors to protect their portfolios? Ashok Varadhan, Co-Head of Global Banking & Markets, discusses with Chris Hussey on the Goldman Sachs trading floor.  This episode was recorded on October 8, 2025. The opinions and views expressed herein are as of the date of publication, subject to change without notice, and may not necessarily reflect the institutional views of Goldman Sachs or its affiliates. The material provided is intended for informational purposes only, and does not constitute investment advice, a recommendation from any Goldman Sachs entity to take any particular action, or an offer or solicitation to purchase or sell any securities or financial products.  This material may contain forward-looking statements.  Past performance is not indicative of future results. Neither Goldman Sachs nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of the statements or information contained herein and disclaim any liability whatsoever for reliance on such information for any purpose.  Each name of a third-party organization mentioned is the property of the company to which it relates, is used here strictly for informational and identification purposes only and is not used to imply any ownership or license rights between any such company and Goldman Sachs.  A transcript is provided for convenience and may differ from the original video or audio content.  Goldman Sachs is not responsible for any errors in the transcript. This material should not be copied, distributed, published, or reproduced in whole or in part or disclosed by any recipient to any other person without the express written consent of Goldman Sachs.    © 2025 Goldman Sachs. All rights reserved.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Watch the video version on YouTube In today's rapidly evolving investment landscape, understanding how quantitative strategies are shaping asset management is more important than ever. This episode explores the dynamic world of quant investing, offering financial advisors and investors practical insights into how systematic, data-driven approaches are transforming portfolio construction and risk management. Discover how quant models identify market inefficiencies, adapt to shifting macroeconomic conditions, and complement traditional fundamental strategies to deliver robust, diversified outcomes. In this episode, join Gabriela Santos, Chief Market Strategist for the Americas, as she sits down with Grace Koo, Co-Head of Risk Managed and Total Return Portfolios at J.P. Morgan Asset Management. Together, they unpack the opportunities and challenges of quant investing, sharing actionable perspectives for advisors and investors seeking to stay ahead in a changing market. Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify

Bitcoin is hitting new all-time highs—but is this real euphoria, or just a prelude to it? In this double-header episode, we bring you a Bits + Bips roundtable and an in-depth interview on the five companies best positioned to bring crypto onchain. First, the Bits + Bips crew, Lumida's Ram Ahluwalia, FalconX's Joshua Lim, and NYU professor Austin Campbell, break down what's really driving this crypto rally. Is it dollar debasement, asset revaluation, or just pure animal spirits?  They debate how close we are to a true blow-off top, how to spot a real market peak, and what shocks could shelve bitcoin in an instant. Plus, their takes on Zcash, Japan, Coinbase's banking ambitions, and more. Then, Unchained's Steven Ehrlich sits down with Ryan Yi, author of the Onchain 5 series, to discuss the five companies that are leading crypto's push into real-world adoption.  From Coinbase's Base app and token plans, to Robinhood's play for tokenized assets, Stripe's all-in crypto tech stack, Telegram's TON-powered mini-app ecosystem, and Binance's BNB-based loyalty empire, this is the playbook for what going onchain really looks like. Thank you to our sponsor, Aptos! Hosts: Steve Ehrlich, Executive Editor at Unchained Ram Ahluwalia, CFA, CEO and Founder of Lumida Guests: Joshua Lim, Co-Head of Markets at FalconX Austin Campbell, NYU Stern professor and founder and managing partner of Zero Knowledge Consulting Ryan Yi, Ex Coinbase, Coinbase Ventures, and CoinFund For links to all the amazing articles, visit https://unchainedcrypto.com/bits-bips/bits-bips-whats-really-driving-bitcoin-and-whos-driving-crypto-onchain/ Timestamps:  0:00 Intro  4:38 What Josh learned at Token2049 about what's really moving the market  10:12 How the options market is quietly driving bitcoin's price  13:25 Why Ram says this isn't a “debasement trade,” despite what everyone thinks  20:29 Whether we've hit peak euphoria—or not even close  23:54 Why Zcash suddenly exploded in price  26:45 How political changes in Japan are shaping markets  30:30 How to spot the real market top—and why Austin challenges Ram's call on stocks beating gold  35:41 How CME's 24/7 futures could change crypto trading  39:20 The signs Ram thinks would signal when the top is in  43:43 How bitcoin, altcoins, and tech stocks trade together and how they don't  47:59 What kind of shock could finally take bitcoin down  51:34 What to make of Coinbase applying for a banking license  53:34 Whether Galaxy is trying to become the next crypto super app  57:59 Why this cycle might play out completely differently  1:02:04 Why Ram believes banks are about to crush earnings  1:03:03 The biggest risks investors still aren't paying attention to  1:07:56 Meet 5 The Firms Poised to Drive the Next Wave of Crypto Adoption  1:08:53 Why distribution is the key battleground for the next wave of crypto adoption  1:12:24 How Coinbase is rearchitecting its platform around Base  1:15:42 What the upcoming Base token and Base app could unlock for users  1:19:13 How Robinhood is competing in crypto—and why it might have an edge  1:25:56 What the tokenization trend means for Robinhood's future  1:27:52 Why Stripe is building a crypto tech stack of its own  1:35:02 Why Telegram's TON token is central to its survival and growth  1:41:40 What's behind TON's lagging price performance  1:45:13 How Binance uses the BNB token as a cornerstone of its entire ecosystem  1:52:43 Why going fully onchain could be the defining strategy for the next generation of companies Learn more about your ad choices. Visit megaphone.fm/adchoices

Bitcoin is hitting new all-time highs—but is this real euphoria, or just a prelude to it? In this double-header episode, we bring you a Bits + Bips roundtable and an in-depth interview on the five companies best positioned to bring crypto onchain. First, the Bits + Bips crew, Lumida's Ram Ahluwalia, FalconX's Joshua Lim, and NYU professor Austin Campbell, break down what's really driving this crypto rally. Is it dollar debasement, asset revaluation, or just pure animal spirits?  They debate how close we are to a true blow-off top, how to spot a real market peak, and what shocks could shelve bitcoin in an instant. Plus, their takes on Zcash, Japan, Coinbase's banking ambitions, and more. Then, Unchained's Steven Ehrlich sits down with Ryan Yi, author of the Onchain 5 series, to discuss the five companies that are leading crypto's push into real-world adoption.  From Coinbase's Base app and token plans, to Robinhood's play for tokenized assets, Stripe's all-in crypto tech stack, Telegram's TON-powered mini-app ecosystem, and Binance's BNB-based loyalty empire, this is the playbook for what going onchain really looks like. Thank you to our sponsor, Aptos! Hosts: Steve Ehrlich, Executive Editor at Unchained Ram Ahluwalia, CFA, CEO and Founder of Lumida Guests: Joshua Lim, Co-Head of Markets at FalconX Austin Campbell, NYU Stern professor and founder and managing partner of Zero Knowledge Consulting Ryan Yi, Ex Coinbase, Coinbase Ventures, and CoinFund For links to all the amazing articles, visit https://unchainedcrypto.com/bits-bips/bits-bips-whats-really-driving-bitcoin-and-whos-driving-crypto-onchain/ Timestamps:  0:00 Intro  4:38 What Josh learned at Token2049 about what's really moving the market  10:12 How the options market is quietly driving bitcoin's price  13:25 Why Ram says this isn't a “debasement trade,” despite what everyone thinks  20:29 Whether we've hit peak euphoria—or not even close  23:54 Why Zcash suddenly exploded in price  26:45 How political changes in Japan are shaping markets  30:30 How to spot the real market top—and why Austin challenges Ram's call on stocks beating gold  35:41 How CME's 24/7 futures could change crypto trading  39:20 The signs Ram thinks would signal when the top is in  43:43 How bitcoin, altcoins, and tech stocks trade together and how they don't  47:59 What kind of shock could finally take bitcoin down  51:34 What to make of Coinbase applying for a banking license  53:34 Whether Galaxy is trying to become the next crypto super app  57:59 Why this cycle might play out completely differently  1:02:04 Why Ram believes banks are about to crush earnings  1:03:03 The biggest risks investors still aren't paying attention to  1:07:56 Meet 5 The Firms Poised to Drive the Next Wave of Crypto Adoption  1:08:53 Why distribution is the key battleground for the next wave of crypto adoption  1:12:24 How Coinbase is rearchitecting its platform around Base  1:15:42 What the upcoming Base token and Base app could unlock for users  1:19:13 How Robinhood is competing in crypto—and why it might have an edge  1:25:56 What the tokenization trend means for Robinhood's future  1:27:52 Why Stripe is building a crypto tech stack of its own  1:35:02 Why Telegram's TON token is central to its survival and growth  1:41:40 What's behind TON's lagging price performance  1:45:13 How Binance uses the BNB token as a cornerstone of its entire ecosystem  1:52:43 Why going fully onchain could be the defining strategy for the next generation of companies Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome back to the Alt Goes Mainstream podcast.Today's episode dives into the evolution of infrastructure investing with a leading scaled specialist firm in infrastructure.We sat down in Stonepeak's Hudson Yards office with a pioneer in infrastructure investing: Mike Dorrell.Mike is the Chairman, CEO, and Co-Founder of Stonepeak, building the foundations for the firm to achieve a rapid ascent to $76B from its founding in 2011.Mike brings deep expertise to bear in the infrastructure asset class. He has over 20 years of experience investing in infrastructure, starting his career at Macquarie, where he ultimately held the title of Senior Managing Director. He then joined Blackstone, where he was a Senior Managing Director in Private Equity and Co-Head of the Infrastructure Investment group, before striking out on his own to build one of the industry's largest infrastructure investing firms in Stonepeak.Mike and I had a fascinating and thought-provoking discussion about infrastructure investing and why it's becoming an increasingly important part of the private capital ecosystem. We covered:The early days of infrastructure investing.How infrastructure investing has evolved.How Mike's experiences at Macquarie and Blackstone informed how he wanted to build Stonepeak.How institutional investors have approached infrastructure investing and why individual investors should consider exposure to infrastructure assets.Stonepeak's DNA and what makes the firm different from other infrastructure investors.Why being a scaled specialist is a competitive advantage.How Stonepeak was built from scratch to scale.How Stonepeak identified investing in data centers early on and well before the data center boom began.Why launch a wealth solutions business and how it's a reflection of the firm's DNA, culture, and values.Thanks Mike for coming on the show to share your expertise, wisdom, and passion for infrastructure investing.A word from AGM podcast sponsor, Ultimus Fund SolutionsThis episode of Alt Goes Mainstream is brought to you by Ultimus Fund Solutions, a leading full-service fund administrator for asset managers in private and public markets. As private markets continue to move into the mainstream, the industry requires infrastructure solutions that help funds and investors keep pace. In an increasingly sophisticated financial marketplace, investment managers must navigate a growing array of challenges: elaborate fund structures, specialized strategies, evolving compliance requirements, a growing need for sophisticated reporting, and intensifying demands for transparency.To assist with these challenging opportunities, more and more fund sponsors and asset managers are turning to Ultimus, a leading service provider that blends high tech and high touch in unique and customized fund administration and middle office solutions for a diverse and growing universe of over 450 clients and 1,800 funds, representing $500 billion assets under administration, all handled by a team of over 1,000 professionals. Ultimus offers a wide range of capabilities across registered funds, private funds and public plans, as well as outsourced middle office services. Delivering operational excellence, Ultimus helps firms manage the ever-changing regulatory environment while meeting the needs of their institutional and retail investors. Ultimus provides comprehensive operational support and fund governance services to help managers successfully launch retail alternative products.Visit www.ultimusfundsolutions.com to learn more about Ultimus' technology enhanced services and solutions or contact Ultimus Executive Vice President of Business Development Gary Harris on email at gharris@ultimusfundsolutions.com.We thank Ultimus for their support of alts going mainstream.Show Notes00:00 Message from our Sponsor, Ultimus01:18 Welcome to the Alt Goes Mainstream Podcast02:10 Guest Introduction: Mike Dorrell03:58 Mike's Journey to Stonepeak06:46 Challenges in the US Infrastructure Market11:09 Successes and Setbacks in Infrastructure Deals12:06 Privately Held Infrastructure in the US17:05 Public vs. Private Infrastructure18:34 Impact of Infrastructure on Daily Life19:16 Stonepeak's Significant Market Presence22:10 Balancing Public Good and Investor Returns22:53 Regulation and Good Judgment in Infrastructure23:55 Challenges in Privatization25:52 Skills Needed for Infrastructure Investing26:29 Access to Infrastructure for Individual Investors27:10 Institutional Market's Experience with Infrastructure30:50 Asset Allocation and Infrastructure33:40 Private Equity vs. Infrastructure Investments34:10 Institutional Allocation Trends34:46 Patience and Peace of Mind in Investing35:14 Warren Buffet's Investment Philosophy35:38 Biggest Risks in Infrastructure35:50 Electric Utility Asset Risks36:28 Data Center Business Risks37:02 Evaluating Data Center Investments38:46 Economic Differences: Building vs. Buying Data Centers40:21 Pricing Power in Data Centers46:03 Connectivity Data Centers Explained49:16 Navigating Infrastructure as an Asset Class50:09 Finding the Right Assets at Fair Prices50:27 The Evolution of Infrastructure Investing53:31 Founding Stonepeak57:20 Raising Capital in Early Days59:46 Lessons from Blackstone01:01:22 Building a Strong Investment Culture01:03:37 Maintaining Culture While Scaling01:06:20 The Importance of the Wealth Channel01:07:41 Focus on Quality and Customer Experience01:08:33 Cycling and Business Philosophy01:09:26 The Importance of Investment Decisions01:10:27 Final Thoughts on Investment ProcessEditing and post-production work for this episode was provided by The Podcast Consultant.

In this episode, RBC's Graeme Pearson, Co-Head of Global Research, joins Greg Pardy, Head of Global Energy Research, and Robert Kwan, Head of Global Power, Utilities, and Infrastructure Research, to discuss how Canada can solidify its position as a global energy leader. The discussion, based on the Energy Insights report, delves into how enhanced oil export diversification and improved carbon competitiveness in the oil sands are essential to futureproof Canada's energy markets.

John is joined by Dennis Hranitzky, partner in Quinn Emanuel's Salt Lake City, New York, and London Offices, Head of the firm's Sovereign Litigation practice, and Co-Head of the firm's Global Asset Recovery Practice. They discuss various kinds of litigation, arbitration, and collection actions against sovereign states. They discuss collection cases against sovereign states resulting from those states' default on debt instruments, the challenges faced by creditors who hold out after most creditors agree to a debt restructuring arrangement with the sovereign, recent proposed legislation, and any other government actions favoring sovereigns, the current sovereign debt crisis, and concerns about opportunistic funds that seek profit by collecting on devalued sovereign debt. They also discuss investor-state arbitration generally, for example, after a company has invested in a project in a country and the country fundamentally changes the terms under which the investment was made, such as radically raising taxes as Spain did with respect to renewable energy projects after 2008. They discuss the position taken by the EU that EU courts cannot enforce arbitration awards against EU nations even when the nation entered voluntarily into an arbitration treaty, and recent indications that the United States government supports the position of the EU. Finally, they discuss litigation against sovereigns unrelated to sovereign debt, such as litigation against state sponsors of terrorism, including the lawsuit Quinn Emanuel recently filed against Iran on behalf of victims of the October 7, 2023, Hamas attacks. Podcast Link: Law-disrupted.fmHost: John B. Quinn Producer: Alexis HydeMusic and Editing by: Alexander Rossi

On today's episode, Aaron Mulvihill, Global Alternatives Strategist, is joined by Stephen Dulake, Co-Head of Global Fundamental Research at JP Morgan. Together, they discuss private credit, an asset class that has attracted significant investor interest due to its higher yields compared to traditional fixed income. The conversation explores the factors driving growth in the private credit industry, examines how yields compare to public fixed income and where they may be headed and highlights the key risks and opportunities in this evolving market. For more resources on Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Listen to the audio version of the Alternative Realities podcast: Apple Podcasts | Spotify

Geschlechterklischees begegnen uns täglich – im Berufsleben ebenso wie im Alltag. Und immer wieder sind es Frauen, die mit Fragen konfrontiert werden, die Männern in dieser Art nie gestellt würden. Gemeinsam mit der Journalistin, Podcasterin und Autorin Mari Lang sprechen Francine Brogyányi, Managing Partnerin und Gründerin der Initiative women@DORDA, sowie Magdalena Nitsche, Partnerin und Co-Head von women@DORDA, darüber, wie sie diesen sogenannten „Frauenfragen“ begegnen. Immer mit dem Ziel, stereotype Denkmuster sichtbar zu machen und aufzubrechen.

Hosts: Nicola Yeomans (KWM Partner & Co-Head of Private Capital) and Will Heath (KWM Partner) Duration: [16:38]Summary: Asian capital is increasingly shaping Australia's biggest deals. In this episode of KWM's View from Asia, Nicola Yeomans and Will Heath share insights from the AFR Asia Summit — exploring inbound investment trends, key sectors and the regulatory landscape.They discuss why Japanese, Singaporean and other Asian investors are active in Australia, the growing role of Singapore as a financial hub, and how intra-Asia investment is expanding. Regulatory developments and sector hotspots like data centres are also in focus. You can read their key takeaways in full here: https://www.kwm.com/global/en/insights/latest-thinking/asias-capital-is-on-the-move-the-view-from-australia-and-singapore.html  Key topics:How Asian capital is driving Australia's largest dealsInbound investments to Australia from Japan, Singapore and beyondSector hotspots — from data centres to digital assetsThe regulatory backdrop — FIRB, ACCC and deal timelinesIntra-Asia investment growth and Singapore's role as a regional hub.Listen in for a clear take on Asia's capital flows — and what they mean for your next move. For more regional insights, subscribe to KWM's View from Asia: https://landing.kwm.com/Subscribe-view-from-asia

In this episode, Escala Investment Analyst Holly Brenchley speaks with Roy Keenan, Co-Head of Fixed Income at Yarra Capital and Portfolio Manager of the Yarra Enhanced Income Fund, a core Australian credit strategy. Roy discusses the investment philosophy that underpins Yarra's approach, including its rigorous internal credit rating system, the importance of ESG and documentation analysis, as well as how the team captures attractive risk-adjusted returns within the changing Australian credit landscape.

Our Co-Head of Securitized Products Research James Egan joins our Chief Economic Strategist Ellen Zentner to discuss the recent challenges facing the U.S. housing market, and the path forward for home buyers and investors. Read more insights from Morgan Stanley.----- Transcript ----- James Egan: Welcome to Thoughts on the Market. I'm James Egan, U.S. Housing Strategist and Co-Head of Securitized Products Research for Morgan Stanley. Ellen Zentner: And I'm Ellen Zentner, Chief Economic Strategist and Global Head of Thematic and Macro Investing at Morgan Stanley Wealth Management. James Egan: And today we dive into a topic that touches nearly every American household, quite literally. The future of the U.S. housing market. It's Thursday, September 25th at 10am in New York. So, Ellen, this conversation couldn't be timelier. Last week, the Fed cut interest rates by 25 basis points, and our chief U.S. Economist, Mike Gapen expects three more consecutive 25 basis point cuts through January of next year. And that's going to be followed by two more 25 basis point cuts in April and July. But mortgage rates, they're not tied to fed funds. So even if we do get 6.25 bps cuts by the end of 2026, that in and of itself we don't think is going to be sufficient to bring down mortgage rates, though other factors could get us there.Taking all that into account, the U.S. housing market appears to be a little stuck. The big question on investors' minds is – what's next for housing and what does that mean for the broader economy? Ellen Zentner: Well, I don't like the word stuck. There's no churn in the housing market. We want to see things moving and shaking. We want to see sellers out there. We want to see buyers out there. And we've got a lot of buyers – or would be buyers, right? But not a lot of sellers. And, you know, the economy does well when things are moving and shaking because there's a lot of home related spending that goes on when we're selling and buying homes. And so that helps boost consumer spending. Housing is also a really interest rate sensitive sector, so you know, I like to say as goes housing, so goes the business cycle. And so, you don't want to think that housing is sort of on the downhill slide or heading toward a downturn [be]cause it would mean that the entire economy is headed toward a downturn. So, we want to see housing improve here. We want to see it thaw out. I don't like, again, the word stuck, you know. I want to see some more churn. James Egan: As do we, and one of the reasons that I wanted to talk to you today is that you are observing all of these pressures on the U.S. housing market from your perspective in wealth management. And that means your job is to advise retail clients who sometimes can have a longer investment time horizon. So, Ellen, when you look at the next decade, how do you estimate the need for new housing units in the United States and what happens if we fall short of these estimated targets? Ellen Zentner: Yeah, so we always like to say demographics makes the world go round and especially it makes the housing market go round. And we know that if you just look at demographic drivers in the U.S. Of those young millennials and Gen Z that are aging into their first time home buying years – whether they're able to immediately or at some point purchase a home – they will want to buy homes. And if they can't afford the homes, then they will want to maybe rent those single-family homes. But either way, if you're just looking at the sheer need for housing in any way, shape, or form that it comes, we're going to need about 18 million units to meet all of that demand through 2030. And so, when I'm talking with our clients on the wealth management side, it's – Okay, short term here or over the next couple of years, there is a housing cycle. And affordability is creating pressures there. But if we look out beyond that, there are opportunities because of the demographic drivers – single family rentals, multi-family. We think modular housing can be something big here, as well. All of those solutions that can help everyone get into a home that wants to be. James Egan: Now, you hit on something there that I think is really important, kind of the implications of affordability challenges. One of the things that we've been seeing is it's been driving a shift toward rentership over ownership. How does that specific trend affect economic multipliers and long-term wealth creation? Ellen Zentner: In terms of whether you're going to buy a single-family home or you're going to rent a single-family home, it tends to be more square footage and there's more spending that goes on with it. But, of course, then relatively speaking, if you're buying that single family home versus renting, you're also going to probably spend a lot more time and care on that home while you're there, which means more money into the economy. In terms of wealth creation, we'd love to get the single-family home ownership rate as high as possible. It's the key way that households build intergenerational wealth. And the average American, or the average household has four times the wealth in their home than they do in the stock market. And so that's why it's very important that we've always created wealth that way through housing; and we want people to own, and they want to own. And that's good news. James Egan: These affordability challenges. Another thing that you've been highlighting is that they've led to an internal migration trend. People moving from high cost to lower cost metro areas. How is this playing out and what are the economic consequences of this migration? Ellen Zentner: Well, I think, first of all, I think to the wonderful work that Mark Schmidt does on the Munis team at MS and Co. It matters a great deal, ownership rates in various regions because it can tell you something about the health of the metropolitan area where they are. Buying those homes and paying those property taxes. It can create imbalances across the U.S. where you've got excess supply maybe in some areas, but very tight housing supply in others. And eventually to balance that out, you might even have some people that, say, post-COVID or during COVID moved to some parts of the country that have now become very expensive. And so, they leave those places and then go back to either try another locale or back to the locale they had moved from. So, understanding those flows within the U.S. can help communities understand the needs of their community, the costs associated with filling those needs, and also associated revenues that might be coming in. So, Jim, I mentioned a couple of times here about single family renting, and so from your perch, given that growing number of single-family rentals, how is that going to influence housing strategy and pricing? James Egan: It is certainly another piece of the puzzle when we look at like single family home ownership, multi-unit rentership, multi-unit home ownership, and then single family rentership. Over the past 15 years, this has been the fastest growing way in which kind of U.S. households exist. And when we take a step back looking at the housing market more holistically – something you hit on earlier – supply has been low, and that's played a key role in keeping prices high and affordability under pressure. On top of that, credit availability has been constrained. It's one of the pillars that we use when evaluating home prices and housing activity that we do think gets overlooked. And so even if you can find a home to buy in these tight inventory environments, it's pretty difficult to qualify for a mortgage. Those lending standards have been tight, that's pushed the home ownership rate down to 65 percent. Now, it was a little bit lower than this, after the Great Financial Crisis, but prior to that point, this is the lowest that home ownership rates have been since 1995. And so, we do think that single family rentership, it becomes another outlet and will continue to be an important pillar for the U.S. housing market on a go forward basis. So, the economic implications of that, that you highlighted earlier, we think that's going to continue to be something that we're living with – pun only half intended – in the U.S. housing market. Ellen Zentner: Only half intended. But let me take you back to something that you said at the beginning of the podcast. And you talked about Gapen's expectation for rate cuts and that that's going to bring fed funds rate down. Those are interest rates, though that don't impact mortgage rates. So how do mortgage rates price? And then, how do you see those persistently higher mortgage rates continuing to weigh on affordability. Or, I guess, really, what we all want to know is – when are mortgage rates going to get to a point where housing does become affordable again? James Egan: In our prior podcast, my Co-Head of Securitized Products Research, Jay Bacow and myself talked about how cutting fed funds wasn't necessarily sufficient to bring down mortgage rates. But the other piece of this is going to be how much lower do mortgage rates need to go? And one of the things we highlighted there, a data point that we do think is important. Mortgage rates have come down recently, right? Like we're at our lowest point of the year, but the effective rate on the outstanding market is still below 4.25 percent. Mortgage rates are still above 6.25 percent, so the market's 200 basis points out of the money. One of the things that we've been trying to do, looking at changes to affordability historically. What we think you really need to see a sustainable growth in housing activity is about a 10 percent improvement in affordability. How do we get there? It's about a 5.5 percent mortgage rate as opposed to the 6 1/8th to 6.25 where we were when we walked into this recording studio today. We think there will be a little bit response to the move in mortgage rates we've already seen. Again, it's the lowest that rates have been this year, and there have been some… Ellen Zentner: Are those fence sitters; what we call fence sitters? People that say, ‘Oh gosh, it's coming down. Let me go ahead and jump in here.' James Egan: Absolutely. We'll see some of that. And then from just other parts of the housing infrastructure, we'll see refinance rates pick up, right? Like there are borrowers who've seen originations over the course of the past couple years whose rates are higher than this. Morgan Stanley actually publishes a truly refinanceable index that measures what percentage of the housing market has at least a 25 basis point incentive to refinance. Housing market holistically after this move? 17 percent? Mortgages originated in the last two years, 61 percent of them have that incentive. So, I think you'll see a little bit more purchase activity. Again, we need to get to 5.5 percent for us to believe that will be sustainable. But you'll also see some refinance activity as well, right? Ellen Zentner: Right, it doesn't mean you get absolutely nothing and then all of a sudden the spigot opens when you get to 5.5 percent. Anecdotal evidence, I have a 2.7 percent 30-year mortgage and I've told my husband, I'm going to die in this apartment. I'm not moving anywhere. So, I'm part of the problem, Jim. James Egan: Well, congratulations to you on the mortgage… Ellen Zentner: Thank you. I wasn't trying to brag, But yes, it feels like, you know, your point on perspective folks that are younger buyers, you know, are looking at the prevailing mortgage rate right now and saying, ‘My gosh, that's really high.' But some of us that have been around for a lot longer are saying, ‘Really, this is fine.' But it's all relative speaking. James Egan: When you have over 60 percent of the mortgage market that has a rate below 4.5 percent, below 4 percent, yes, on a long-term basis, mortgage rates don't look particularly high. They're very high relative to the past 15 years, and to your point on a 2.7 percent mortgage rate, there's no incentive for you... Or there's limited incentive for you to sell that home, pay off that 2.7 percent mortgage rate, buy a new home at higher prices, at a much higher mortgage rate. That has – I know you don't like the word stuck – but it has been what's gotten this housing market kind of mired in its current situation. Price is very protective. Activity pretty low. Ellen Zentner: Jim, we've been talking about all the affordability issues and so let's set mortgage rates aside and talk about policy proposals. Are there specific policies that could also help on the affordability front? James Egan: So, there's a number of things that we get questions about on a pretty regular basis. Things like GSE reform, first time home buyer tax credits, things that could potentially spur supply. And look, the devil is in the details here. My colleague, Jay Bacow, has done a lot of work on GSE reform and what we're really focusing on there is the nature of the guarantee as well as the future of regulation and capital charges. For instance, U.S. banks own approximately one-third of the agency mortgage-backed securities market. Any changes to regulatory capital as a result of GSE reform, that could have implications for their demand, and that's going to have implications on mortgage rates, right? First time home buyer tax credits. We have seen those before – the spring of 2008 to 2010, and if we use that as a case study, we did see a temporary rise in home sales and a pause in the pace with which home prices were falling. But the effects there were temporary. Sales and prices wouldn't hit their post housing crisis lows until after those programs expired. Ellen Zentner: Right. So, you were incentivized to buy the house. You get the credit; you buy the house. But then unbeknownst to any economist out there, housing valuations continued to fall. James Egan: You could argue that it maybe pulled some demand forward. And so, you saw a lot of it concentrated and then the absence of that demand afterwards. And then on the supply side, there are a number of different programs we have touched on, some of them in these podcasts in the past. And then some of those questions become what needs to go through Congress, what is more kind of local municipality versus federal government. But look, the devil's in the details. It's an incredibly interesting housing market. Probably one that's going to be the source of many podcasts to come. So, Ellen, given all these challenges facing the U.S. housing market. Where do you see the biggest opportunities for retail investors? Ellen Zentner: So, in our recent note Housing in the Next Decade, we took a look at single family renting; you and I have talked about how that's likely to still be in favor for some time. REITs with exposure to select U.S. rental markets; what about senior housing? That is something that you've done deep research on, as well. Senior and affordable housing providers, home construction and materials companies. What about building more sustainable homes with a good deal of the climate change that we're seeing. And financial technology firms that offer flexible financing solutions. So, these are some of the things that we think could be in play as we think about housing over the long term. James Egan: Ellen, thank you for all your insights. It's been a pleasure to have you on the podcast. And I guess there's a key takeaway for investors here. Housing isn't just about where we live, it's about where the economy is headed. Ellen Zentner: Exactly. Always a pleasure to be on the show. Thanks, Jim. James Egan: And thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.

Our Head of India Research Ridham Desai and leaders from Morgan Stanley Investment Management Arjun Saigal and Jitania Kandhari discuss how India's promising macroeconomic trajectory and robust capital markets are attracting more interest from global investors. Read more insights from Morgan Stanley.----- Transcript ----- Ridham Desai: Welcome to Thoughts on the Market. I'm Ridham Desai, Morgan Stanley's Head of India Equity Research and Chief India Equity Strategist. Today, the once in a generation investment opportunities Morgan Stanley sees in India. Joining me in the studio, Arjun Saigal, Co-Head of Morgan Stanley Investment Management at India Private Equity, and Jitania Khandari, Morgan Stanley Investment Management, Head of Macros and Thematic Research for EM Public Equity. It's Tuesday, September 23rd at 4pm in Mumbai. Jitania Kandhari: And 6:30am in New York. Ridham Desai: Right now, India is already the world's fourth largest economy, and we believe it's on track to becoming the third largest by the end of this decade. If you've been following our coverage, you know, Morgan Stanley has been optimistic about India's future for quite some time. It's really a perfect storm – in a good way. India has got a growing young workforce, steady inflation, and is benefiting from some big shifts in the global landscape. When you put all of that together, you get a country that's set up for long-term growth. Of course, India is also facing pressure from escalating tariffs with the U.S., which makes this conversation even more timely. Jitania, Arjun, what are the biggest public and private investment opportunities in India that you'd highlight. Jitania Kandhari: I'd say in public equities there are five broad thematic opportunities in India. Financialization of savings and structurally lower credit costs; consumption with an aspirational consumer and a growing middle-class; localization and supply chain benefits as a China +1 destination; digitization with the India stack that is helping to revolutionize digital services across industries; and CapEx revivals in real estate and industrials, especially defense and electrification. Arjun Saigal: I will just break down the private markets into three segments. The first being the venture capital segment. Here, it's generally been a bit of hit or miss; some great success stories, but there've also been a lot of challenges with scale and liquidity. Coming to the large cap segment, this is the hundred million dollars plus ticket size, which attracts the large U.S. buyout funds and sovereign wealth funds. Here target companies tend to be market leaders with scale, deep management strength, and can be pretty easily IPO-ed. And we have seen a host of successful PE-backed IPOs in the space. However, it has become extremely crowded given the number of new entrants into the space and the fact that regional Asia funds are allocating more of their dollars towards India as they shift away from China. The third space, which is the mid-market segment, the $50- to $100 million ticket size is where we believe lies the best risk reward. Here you're able to find mid-size assets that are profitable and have achieved market leadership in a region or product. These companies have obvious growth drivers, so it's pretty clear that your capital's able to help accelerate a company's growth path. In addition, the sourcing for these deals tends to be less process driven, creating the ability to have extended engagement periods, and not having to compete only on price. In general, it's not overly competitive, especially when it comes to control transactions. Overall, valuations are more reasonable versus the public markets and the large cap segment. There are multiple exit routes available through IPO or sale to large cap funds. We're obviously a bit biased given our mid-market strategy, but this is where we feel you find the best risk reward. Ridham Desai: Jitania, how do these India specific opportunities compare to other Emerging Markets and the developed world? Jitania Kandhari: I will answer this question from two perspectives. The macro and the markets. From a macro perspective, India, as you said, has better demographics, low GDP per capita with catchup potential, low external vulnerability, and relatively better fiscal dynamics than many other parts of the world.It is a domestic driven story with a domestic liquidity cycle to support that growth story. India has less export dependency compared to many other parts of the emerging and developed world, and is a net oil importer, which has been under pressure actually positively impacting commodity importers. Reforms beginning in 2017 from demonetization, GST, RERA and other measures to formalize the economy is another big difference. From a market standpoint, it is a sectorally diversified market. The top three sectors constitute 50 percent in India versus around 90 percent in Taiwan, 66 percent in Brazil, and 57 percent overall in EM. Aided by a long tail of sectors, India screens as a less concentrated market when compared to many emerging and developed markets. Ridham Desai: And how do tariffs play into all this? Jitania Kandhari: About 50 percent of exports to the U.S. are under the 50 percent tariff rate. Net-net, this could impact 30 to 80 basis points of GDP growth.Most impacted are labor intensive sectors like apparel, leather, gems and jewelry. And through tax cuts like GST and monetary policy, government is going to be able to counter the first order impacts. But having said that, India and U.S. are natural partners, and hence this could drag on and have second order impacts. So can't see how this really eases in the short term because neither party is too impacted by the first order impacts. U.S. can easily replace Indian imports, and India can take that 30 basis point to 50 basis points GDP impact. So, this is very unlike other trade deals where one party would have been severely impacted and thus parts were created for reversals. Ridham Desai: What other global themes are resonating strongly for India? And conversely, are there themes that are not relevant for investing in India? Jitania Kandhari: I think broadly three themes globally are resonating in India. One is demographics with the growing cohort of millennials and Gen Z, leading to their aspirations and consumption patterns. India is a large, young urbanizing population with a large share in these demographic cohorts. Supply chain diversification, friend-shoring, especially in areas like electronics, technology, defense, India is an integral part of that ecosystem. And industrials globally are seeing a revival, especially in areas like electrification with the increased usage of renewables. And India is also part of that story given its own energy demands. What are the themes not relevant for investing in India is the aging population, which is one of the key themes in markets like North Asia and Eastern Europe, where a lot of the aging population drivers are leading to investment and consumption patterns. And with the AI tech revolution, India has not really been part of the AI picks and shovels theme like other markets in North Asia, like Korea, Taiwan, and even the Chinese hardware and internet names. Globally, in selected markets, utilities are doing well, especially those that are linked to the AI data center energy demand; whereas in India, this sector is overregulated and under-indexed to growth. Ridham Desai: Arjun, how does India's macro backdrop impact the private equity market in particular? Arjun Saigal: So, today India has scale, growth, attractive return on capital and robust capital markets. And frankly, all of these are required for a conducive investment environment. I also note that from a risk lens, given India being a large, stable democracy with a reform-oriented government, this provides extra comfort of the country being an attractive place to invest. You know, we have about $3 billion of domestic money coming into the stock market each month through systematic investment plans. This tends to be very stable money, versus previously where we relied on foreign flows, which were a lot more volatile in nature. This, in turn, makes for some very attractive PE exits into the public markets. Ridham Desai: Are there some significant intersections between the public and private equity markets? Arjun Saigal: You know, it tends to be quite limited, but we do see two areas. The first being pre-IPO rounds, which have been taking place recently in India, where we do see listed public funds coming into these pre-IPO rounds in order to ensure a certain minimum allocation in a company. And secondly, we do see that in certain cases, PE investors have been selectively making pipe investments in sectors like financial services, which have multiple decade tailwinds and require regular capital for growth. Unlike developed markets, we've not seen too many take private deals being executed in India due to the complex regulatory framework. This is perhaps an area which can open up more in the future if the process is simplified. Ridham Desai: Finally, as a wrap up, what do you both think are the key developments and catalysts in India that investors should watch closely? Arjun Saigal: We believe there are a couple of factors, one being repeat depreciation. Historically this has been at 2.5 to 3 percent, and unfortunately, it's been quite expensive to hedge the repeat. So, the way to address this is to sort of price it in. The second is full valuations. India has never been a cheap market, but in certain pockets, valuations of listed players are becoming quite concerning and those valuations in turn immediately push up prices in the large ticket private market space. And lastly, I would just mention tariffs, which is an evolving situation. Jitania Kandhari: I would add a couple more things. Macro equilibrium in India should be sustained – as India has been in one of the best positions from a macroeconomic standpoint. Private sector CapEx is key to drive the next leg of growth higher. Opportunities for the youth to get productively employed is critical in development of an economy. And India has always been in a geopolitical sweet spot in the last few years, and with the tariff situation that needs some resolution and close monitoring. All of this is important for nominal growth, which ultimately drives nominal earnings growth in India that are needed to justify the high valuations. Ridham Desai: Arjun, Jitania, thank you both for your insights. Arjun Saigal: Great speaking with you Ridham. Jitania Kandhari: Thank you for having us on the show. Ridham Desai: And thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.

Chestnut Carbon CFO Greg Adams and Co-Head of Infrastructure Finance and Advisory at JP Morgan, Fuat Savas, discuss their recent pioneering forest carbon removal credit project financing.

Matt McLennan, Co-Head of Global Value Investing at First Eagle Investments, joins Bilal Little, Director of Exchange Traded Products at the NYSE, to share his path from Australia and Goldman Sachs to leading one of the industry's most respected value teams. He discusses First Eagle's philosophy of resilient wealth creation, with an emphasis on capital preservation, scarcity-driven opportunities, and real assets. McLennan also explores today's challenging macro backdrop of inflation, debt, and geopolitical risk, and why gold remains a critical hedge.

Rising long rates globally have caused some concern among investors. We discuss why meaningfully higher long rates are a tail risk, but not our base case. Plus, we talk to Hemant Baijal, Head of Macro Alpha and Co-Head of Emerging Markets Debt, about some big shifts this year in international market performance and the US dollar. (Invesco Distributors, Inc.)

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, welcomes Kevin Egan, CPA, Managing Director, Senior Portfolio Manager, and Co-Head of Credit Research for Invesco's Global Private Credit Team. Together, they take a deep dive into senior loans—an often misunderstood but increasingly relevant market for insurers. Kevin explains the fundamentals of the asset class, including the security and recovery profile of senior loans, their relative value compared to high yield, and how they've historically performed across market cycles.   The conversation also explores current dynamics shaping the space: demand from CLOs, shifts in direct lending, and sector trends insurers should be paying attention to. Kevin shares Invesco's outlook on where opportunities lie today, what risks are emerging, and how insurers can position themselves in a market environment defined by both resilience and competition.   Whether you're looking to better understand the mechanics of senior secured loans or gain insights into how they may fit within an insurance portfolio, this discussion offers practical takeaways from one of the leading voices in private credit.

The US healthcare system is under siege, financial distress and rising frustration and dissatisfaction by the public to name a few challenges. My guest today is leading the way to a different approach. Rob Roy is SVP, Chief Investment Officer and Co-Head of Environmental Sustainability for AdventHealth, a non-profit healthcare system which employs 3,800 physicians and provides healthcare services to over 8 million patients through 52 hospital campuses in 9 states and 22 home health and hospice agencies. Rob, who has 36 years of institutional investment experience, oversees AdventHealth investments, which include operating capital and employee retirement portfolios totaling approximately $20 billion.

In today's podcast we dive into the rapidly evolving world of infrastructure investment — a space that has moved from the periphery of specialist portfolios to the centre of global capital markets.Once the preserve of a relatively narrow group of pension funds and specialist investors, infrastructure has now become a truly universal asset class, attracting sovereign wealth funds, institutional investors, private equity houses and retail capital. And it's an asset class that promises stable, long-term returns while underpinning the physical and digital systems that our economies depend upon.Joining me to today to help understand why we are seeing these huge and profound changes – and why they matter - is Charlotte Madden, Partner and Co-Head of the Infrastructure Sector at global law firm Clifford Chance. Charlotte specialises in advising private equity and infrastructure funds on complex domestic and cross-border M&A, often involving highly regulated transactions. She has helped deliver the deals that make critical infrastructure happen, from the earliest structuring stages through to completion.And in the UK, the stakes could not be higher. The government has set out an ambitious £725 billion infrastructure pipeline, with more than half of that expected to come from the private sector. From energy security and clean transport to housing and digital connectivity, these projects are central to national growth plans — yet the tension between private investment and public service delivery remains a live and often polarising debate.It's a complex subject so let's dig in …ResourcesClifford Chance infrastructure 10 year infrastructure strategyUK infrastructure PipelineNISTA websiteUK National Wealth Fund

The CPG Guys are joined in this episode by returning guest Nik Modi, Co-Head of Global Consumer & Retail Research at RBC Capital Markets. We actually cover 12 publicly traded company stocks and get Nik's opinion on what's working / not.Follow Nik Modi on LinkedIn at: https://www.linkedin.com/in/nik-modi-675926/Follow RBC Capital Markets on LinkedIn at: https://www.linkedin.com/company/rbc-capital-markets/Follow RBC Capital online at: https://www.rbccm.com/en/Here's who we cover : General Mills, P&G, Church & Dwight, Coca-Cola, Kenvue, Monster Energy, Brown Forman & Hershey.CPG Guys Website: http://CPGguys.comFMCG Guys Website: http://FMCGguys.comCPG Scoop Website: http://CPGscoop.comRhea Raj's Website: http://rhearaj.comLara Raj in Katseye: https://www.katseye.world/DISCLAIMER: The content in this podcast episode is provided for general informational purposes only. By listening to our episode, you understand that no information contained in this episode should be construed as advice from CPGGUYS, LLC or the individual author, hosts, or guests, nor is it intended to be a substitute for research on any subject matter. Reference to any specific product or entity does not constitute an endorsement or recommendation by CPGGUYS, LLC. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent.CPGGUYS LLC expressly disclaims any and all liability or responsibility for any direct, indirect, incidental, special, consequential or other damages arising out of any individual's use of, reference to, or inability to use this podcast or the information we presented in this podcast.

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, speaks with Jeff Miller, Co-Head of Fixed Income and Portfolio Manager, and Stephen “Fitz” Fitzsimmons, Executive Director of Insurance Solutions, both at Morgan Stanley Investment Management. The discussion centers on how insurers can navigate the evolving role of fixed income within multi-asset portfolios, with insights into ALM optimization, yield curve dynamics, and opportunities across public and private credit.   Miller and Fitz highlight the impact of regulatory changes, the balance between transparency and complexity in fixed income markets, and how insurers can thoughtfully integrate alternatives alongside traditional allocations. Their perspectives provide insurance CIOs and investment leaders with actionable guidance for building resilient portfolios in today's fast-changing environment.

Our Co-Heads of Securitized Products Research Jay Bacow and James Egan explain why the macro backdrop could be changing in favor of agency mortgages after the Fed's annual meeting in Jackson Hole. Read more insights from Morgan Stanley.----- Transcript -----Jay Bacow: Welcome to Thoughts on the Market. I'm Jay Bacow, Co-Head of Securitized Products Research at Morgan Stanley. James Egan: And I'm Jim Egan, the other Co-Head of Securitized Products Research at Morgan Stanley. Jay Bacow: Today we're here to talk about why mortgages offer value after Jackson Hole. It's Tuesday, September 2nd at 2pm in New York. James Egan: So, Jay, let's start with the big picture after Jackson Hole, the Fed seems like it's leaning towards cutting rates in a steady, almost programmatic fashion. And in prior episodes of Thoughts on the Market, you've heard different strategists at Morgan Stanley talk about the potential implications there.But for mortgages, what does this mean? Jay Bacow: Well, it takes a lot of the uncertainty out of the market, and that's a big deal. One of the worst-case scenario[s] for agency mortgages – that the investors are buying not mortgages that homeowners have – would've been the Fed staying on hold for much longer than expected. With that risk receding, the backdrop for investors owning agency mortgages feels a lot more supportive. And when we look at high quality assets, we think mortgages look like the cheapest option. Jim, you mentioned some of the previous strategists that come on Thoughts on the Market. Our Global Head of Corporate Credit Strategy, Andrew Sheets had highlighted recently how credit spreads are trading at basically the tights of the past 20 years. Mortgages are basically at the average level of the past 20 years. It seems attractive to us. James Egan: And that relative value really does matter. Investors are looking for places to earn yield without taking on too much credit risk. Mortgages, particularly agency mortgages with government guarantee there, they offer that balance. Jay Bacow: Right. And it's not just that balance, but when we think about what goes into the asset pricing, the supply and demand picture makes a big difference. And that we think is changing. One of the reasons that mortgages have underperformed corporate credit is that when you look at the composition of the buyers, the two largest holders of mortgages are the Fed and domestic banks. The Fed's obviously going to continue to run their portfolio down, but domestic banks have also been on the sidelines. And that's meant that money managers, and to a lesser extent overseas, have had to be the largest buyers. But we think that could change. James Egan: Right, with more clarity on Fed policy, banks in particular may get more comfortable adding mortgages to their balance sheets, though the exact timing depends on regulatory developments. REITs might also find this more compelling? Jay Bacow: Right. If the Fed's cutting rates, the front end is going to be lower, and that's going to mean that the incentive to move out of cash should be higher, and that's going to help both banks and likely REITs. But then there's also the supply side.Net issuance of conventional mortgage has been negative this year. That's obviously good. And some of the other technicals are improving as well. Vols are trading better, and all of this just contributes to a healthier landscape. James Egan: Right. And another thing that we've talked about when discussing mortgage valuations is the importance of volatility. If you're buying mortgages, you're inherently short rate volatility – and volatility has come down meaningfully since last year, even if it's still above pre-COVID norms. Lower volatility supported for mortgage valuations, especially when paired with a Fed that's cutting rates steadily. Though Jay, some of that already in the price? Jay Bacow: Yeah, look. We didn't say mortgages were cheap. We just said mortgages are trading at the long-term averages. But in an environment where stocks are near the all time high and credits near the tights of the past 20 years, we do see that value. And the Fed cutting rates, as we said, should incentivize investors to move out of cash and into securities. Now, there are risks when valuations and other asset classes are as tight or as high as they are. You could see risk assets broadly underperform and mortgages are a risk asset. So, if credit widens, mortgages would not be immune. James Egan: And timing is important here too, right? Especially we think about banks coming back if they wait for full clarity on Basel III proposals – that could be delayed. On top of that, there's prepayment risk… Jay Bacow: Yeah, if rates rally, then speeds could pick up and investors are going to demand more compensation. But summing it up. Mortgages look wide to alternative asset classes. The demand picture we think is going to improve, and more clarity around the Fed's path is going to be supportive as well. All of that we think makes us feel confident this is an environment that mortgages should do well. It's not about a snap tighter and spread, it's more about getting paid carry in an environment where spreads can grind in over time. But Jim, we like mortgages. It's been a pleasure talking to you. James Egan: Pleasure talking to you too, Jay, and to all of you regularly hearing us out. Thank you for listening to another episode of Thoughts on the Market. Please leave a review or a like wherever you get this podcast and share Thoughts on the Market with a friend or colleague today. Jay Bacow: Go smash that subscribe button.

Most AI investment flows to infrastructure while founders ignore energy constraints that will determine who survives. George Lee, Co-Head of Goldman Sachs Global Institute, breaks down the bottlenecks choking AI deployment from silicon to grid capacity.George reveals flexible demand management frameworks that could unlock 75-125 gigawatts of slack capacity, eliminating energy bottlenecks. He and Tom go on to discuss why Middle Eastern sovereign wealth funds are building strategic energy advantages, and how nondeterministic AI systems require continuous sampling protocols.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Eversheds Sutherland's Thomas Warren, Partner and Co-Head of Global Energy and Frank Comparetto, Counsel in the US Tax Practice Group, join Jon Berke on the podcast this week.The duo discuss some of the impacts from the IRS guidance released on August 15th regarding safe harboring, how storage developers are going to map out their game plan despite getting favorable treatment under the One Big Beautiful Bill Act (OBBBA) and later how clean energy developers will tap the capital markets in the back half of the year.NPM is a leading data, intelligence & events company providing business development led coverage of the US & European power, storage & data center markets for the development, finance, M&A and corporate community.Download our mobile app.

In this episode of Private Markets 360°, we welcome Daniel Berglund, Head of US and Co-head of Healthcare at Nordic Capital. Daniel shares his extensive expertise and unique insights into the rapidly evolving healthcare investment landscape. As a key player in shaping and growing investments in this sector, he discusses the recent announcement of Nordic Capital's latest deal with Arcadia, a leading healthcare data platform. Daniel provides valuable insights into disrupting pharmacy benefit managers, which operate as intermediaries between insurers and pharmaceutical companies, and emphasizes the importance of adapting to market dynamics.   Credits:  Host/Author: Chris Sparenberg, Jocelyn Lewis Guests: Daniel Berglund, Nordic Capital Producer: Georgina Lee www.spglobal.com www.spglobal.com/market-intelligence

In this special episode of The Data Minute, Peter sits down with Dave Chen, Co-Head of Global Technology Investment Banking at Morgan Stanley, for a tactical deep dive on how today's founders should think about going public.Dave shares what IPO prep really looks like in 2025 and beyond, why the best companies start working with bankers 2–3 years ahead of a listing, how institutional investors actually evaluate growth-stage companies, and which metrics every founder needs to start tracking long before they file a public S-1. He also breaks down the difference between “lean in” and “sobering” market windows, how valuation strategy works behind the scenes, and what happens in the high-pressure decision days right before a public debut.If you're leading an aspirational company, or running growth-stage finance, this is the IPO playbook you've been waiting for.Subscribe to Carta's weekly Data Minute newsletter: https://carta.com/subscribe/data-newsletter-sign-up/Explore interactive startup and VC data, with Carta's Data Desk: https://carta.com/data-desk/Chapters:01:12 – Dave Chen's path from pre-med to tech investment banking02:53 – The enduring founder journey from startup to IPO04:16 – IPO timelines have changed06:21 – How scale has shifted in the public markets07:28 – Is there still room for smaller IPOs?08:31 – Lean in vs. sober & clinical10:03 – Why companies now engage banks years before IPO12:00 – How founders can gauge IPO readiness13:08 – Building investor relationships years ahead of a roadshow14:34 – What happens when the IPO timeline shifts16:11 – 2024 recap: What happened, and what didn't, in tech IPOs17:32 – The real reason we didn't see more IPOs18:44 – Private capital changed the game for late-stage companies20:01 – The rise of structured late-stage rounds21:03 – How growth + downside protection are unlocking new deals22:53 – Why public investors love private exposure early23:06 – Does IPO prep differ for tech vs. non-tech companies?24:15 – 2–3 years out: What founders should focus on first25:13 – Most teams don't optimize metrics correctly26:02 – The management team matters before and after the IPO27:26 – Designing a board that adds real support28:12 – Why predictable revenue matters pre-IPO29:34 – The fuel founders need to operate like a public company30:53 – The small M&A move that delayed an IPO by six months33:14 – Biggest mistake? Letting the IPO process control you35:15 – The point of no return36:32 – How banks help guide IPO valuation strategy38:15 – What to do when you don't have direct comps40:01 – Getting credit for your company's future performance43:28 – Should you raise the price range?44:26 – Press coverage and the IPO signal vs. noise45:19 – Start IPO readiness years before you need itThis presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only.  This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2025 eShares, Inc., dba Carta, Inc. All rights reserved. Initial public offerings (IPOs) and secondary offering suitability requirements apply. There is no guarantee of receiving IPO shares. Please be advised that public offerings are not suitable for all investors. IPOs are highly volatile and risky and should not be considered by investors with conservative investment objectives or low tolerance for risk. CRC 4745633 (08/2025)

Thrilled to welcome Daniel Ballen, General Partner & Co-Head of Portage Capital Solutions, to the Fintech Newscast! He shares deep insights on the current fintech investment climate, where the market is headed, and what it takes to expand internationally in today's competitive landscape https://portageinvest.com Click Subscribe to keep up to date on the world of … Continue reading Ep 262- Portage Capital Solutions GP Daniel Ballen

Kohsuke Kawaguchi is a prominent software engineer, best known as the creator of Jenkins, an open-source automation server that is widely used for continuous integration and continuous delivery (CI/CD). He is currently the Co-Head of AI at leading DevOps provider, CloudBees and the former Co-CEO of Launchable, an AI platform that speeds up testing to help teams expedite their continuous integration (CI) and delivery pipelines, which was acquired by CloudBees in 2024.Kawaguchi developed Jenkins as a side project when working at Sun Microsystems in 2011. Since then, it has become an essential tool for developers and DevOps professionals around the world helping teams automate parts of software development, testing, and deployment.In addition to his work on Jenkins, Kawaguchi has contributed to the broader open-source community and has worked with various technologies related to software development, automation, and cloud computing. He is also known for his contributions to the world of Java and DevOps.You can find Kohsuke on the following sites:WebsiteXLinkedInGitHubHere are some links provided by Kohsuke:CloudBeesPLEASE SUBSCRIBE TO THE PODCASTSpotifyApple PodcastsYouTube MusicAmazon MusicRSS FeedYou can check out more episodes of Coffee and Open Source on https://www.coffeeandopensource.comCoffee and Open Source is hosted by Isaac Levin

This episode is also available as a podcast, search "Global Viewpoint" on your preferred podcast player to watch, listen, and subscribe.Join Laura Acres, Managing Director, Head of APAC Corporate Finance at Moody's Ratings, and Sean Henderson, Co-Head of Debt Capital Markets Asia Pacific at HSBC, as they explore the latest trends shaping the credit landscape. In this insightful discussion, recorded at the HSBC Asia Credit Conference 2025, they delve into key macro trends, fundamental shifts in global debt markets, and the impact of geopolitics and tariffs across Asia. Discover where value and hidden opportunities lie in today's dynamic markets.Find out more here: https://www.business.hsbc.com/en-gb/campaigns/asia-credit-conferenceDisclaimer: Views of external guest speakers do not represent those of HSBC.

What does it really take to spin out and start your own private equity firm?Stephanie Srulowitz, co-head of U.S. private funds at Weil, Gotshal & Manges, joins The Data Minute to break it all down. From legal structure to fundraising strategy to LP negotiation tactics, she and Peter walk through the three common paths to fund launch (and which is the hardest), why some seed capital can come at a steep cost, and how new managers should think about anchor LPs, placement agents, and fund terms that will echo into fund two and fund three.Stephanie also shares inside-the-room stories on restrictive covenants, compensating service providers before a fund closes, and why being “too creative” in today's market can actually limit your LP base. Whether you're thinking about breaking out or just understanding how PE firms begin, this is your private equity masterclass.Subscribe to Carta's weekly Data Minute newsletter: https://carta.com/subscribe/data-newsletter-sign-up/Explore interactive startup and VC data, with Carta's Data Desk: https://carta.com/data-desk/01:08 – Willkie's view of the PE landscape and emerging managers02:30 – Who starts PE funds? Mostly spinouts04:49 – Why top performers are leaving their posts to go solo06:27 – LPs and seed capital: Are they finally warming to first funds?07:42 – Step one in starting a fund? Figure out where your capital is coming from08:46 – Placement agents: what they do, how they work, and how they get paid11:01 – Why PE sponsors must still sell themselves13:15 – What it really means to “go down market”14:01 – Step two: restrictive covenants, forfeited carry, and what you're leaving behind15:44 – Risk tolerance vs. relationship management: how managers differ in how they leave17:08 – When can you have fundraising conversations18:57 – Fundless deals, seed capital, and three different launch strategies20:59 – The tradeoffs of giving up equity in your management company22:28 – Is creative fundraising becoming more common?23:14 – What a “smart” fund target looks like right now26:20 – Fund two timelines: why they're stretching again27:20 – How do sponsors cover Fund I startup costs?28:39 – Why service providers understand the game29:50 – The most important part of the fundraise: differentiation and focus31:21 – The challenge of DBMs: Differentiated But Middling32:03 – Track records and SEC rules: why it's hard to talk about your wins33:47 – LPs still want standard PE terms35:00 – How institutional LPs think about silos, comparisons, and mandates36:43 – Fundraising strategy 101: anchor first vs momentum building38:19 – The hidden cost of big anchors: equity, carry, and long-term economics40:04 – What anchor term sheets usually ask for41:39 – “Forever” is a very long time: sunset clauses and Fund IV reality43:00 – Fund terms are hard to walk back44:57 – What actually trips up LP negotiations46:09 – Holding periods, evergreen funds, and how structures are evolving48:38 – Behind the curtain: how top counsel help sponsors differentiate49:47 – Lessons from the compliance side: RA registration and when it kicks in52:16 – Why a strong advisory bench is a force multiplierThis presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only.  This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2025 eShares, Inc., dba Carta, Inc. All rights reserved

On this episode of Deal Debrief, we're featuring two recent transactions within our real estate business, the sales of Livensa, a student accommodation platform in Southern Europe, and Aveo, one of the leading senior living platforms in Australia. To dive into these deals, we're joined by Ruban Kaneshamoorthy, Co-Head of Brookfield Real Estate in Australia, and Alberto Nin, Managing Director of Real Estate in Southern Europe. Read disclaimers (https://www.brookfield.com/brookfield-perspectives-podcast-disclaimer) for this episode.

Natalie Westerbarkey, Co-Head of Market Practice and Regulatory Policy, ICMA, outlines ICMA's response to the European Commission's consultation on EU capital markets integration, offering insights into key challenges and strategic recommendations.

Andy Hill, Managing Director, Co-Head of Market Practice & Regulatory Policy, discusses the ongoing work of the Bond Market Liquidity Taskforce (BMLT), focusing on the European investment grade corporate bond market.

AEW's Chief Investment Officer and Head of Private Equity and Private Debt in North America, Mike Byrne and CBRE's Vice Chairman and Co-Head of US Large Loans in Debt & Structured Finance, Tom Traynor provide insights on how real estate investors today can mitigate risk and uncover opportunities by strategically deploying capital across diverse asset classes and regions.insights on deploying global capital:· Today's market demands flexible investment strategies that can adapt quickly to geopolitical shifts, interest rate changes and capital market volatility.· High-quality office assets in prime locations are piquing investor interest, offering potential upside while demand for class B/C assets remains muted.· Debt capital availability is improving, with both traditional capital sources and alternative lenders actively competing to finance deals.· Investors are increasingly targeting high-growth submarkets, prioritizing local demand drivers over broad asset class preferences.· Technology and AI are influencing investment decisions, with growing potential to enhance underwriting and portfolio strategy.

This episode features Alice Pope, Executive Vice President and Chief Financial Officer at Novant Health, and David Krauss, Executive Vice President of Development and Co-Head of Healthcare at ENFRA. They discuss how Novant's innovative energy-as-a-service partnership unlocked $855 million in capital, allowing the system to invest in sustainability, infrastructure, and long-term strategic growth.This episode is sponsored by ENFRA.

Jordan Brooks serves as Principal and Co-Head of the Macro Strategies Group at AQR Capital Management. With no shortage of macroeconomic and geopolitical risks out there for investors to consider, Jordan explains what is top of mind for his team at AQR, and shares guidance when it comes to navigating these types of risks accordingly (including the role alternative investments can play in a portfolio). Host: Daniel Cassidy

Twenty Minute VC: Read the notes at at podcastnotes.org. Don't forget to subscribe for free to our newsletter, the top 10 ideas of the week, every Monday --------- Philipp Freise is Co-Head of European Private Equity at KKR, where he manages the largest private fund in Europe with $8BN in the latest fund. Philip has led KKR's investments in FGS Global, Superstruct, Axel Springer SE, BMG Rights Management, Fotolia, GetYourGuide, GfK SE, Leonine, Mediawan SAS, Scout24 Switzerland and Trainline. Previously, Philip worked at McKinsey & Company in and co-founded Berlin-based VC firm Venturepark, Europe's first pan-European incubator. Agenda: 00:00 – "We Lost $500M in Turkey. Here's Why We'll Never Do It Again." 01:40 – Inside Europe's Biggest PE Fund: $8B of Pure Firepower 03:55 – The $100M Dot-Com Failure That Changed My Career 06:45 – Why Picking the Wrong VC Will Destroy Your Company 10:20 – KKR's $500M COVID Gamble: Genius or Insane? 12:35 – Why We Ignored the Market & Deployed 40% of Our Fund 15:55 – KKR's Ruthless Portfolio Discipline: Love Doesn't Matter 17:10 – Do Power Laws Apply in PE? Freise Destroys the Myth 18:45 – The Truth About Capital Intensity in the Age of AI 20:10 – Can AI Kill the PE Model? Here's What Philipp Says 26:00 – The Secret to Great Investment Decisions at KKR 32:40 – Why There's a $3T Liquidity Time Bomb in Venture 34:25 – The Death of IPOs? How KKR Exits Without Going Public 40:05 – Will KKR Europe Hit $20B? Freise's Bold Prediction 43:45 – Helsing, Space, and Defense: The New Age of DeepTech Bets 45:30 – Tariffs, China, and the Future of the German Car Empire 47:00 – Freise vs. Bitcoin: Will USD Still Rule in 10 Years? 48:15 – 4 Global Shocks Happening Right Now That You Need to Know 51:30 – KKR Missed Spotify AND Alibaba?! The Painful Stories 53:00 – Do Andreessen & General Catalyst Scare KKR? Freise Responds 54:30 – The One Metric That Will Define KKR's Next Decade  

Philipp Freise is Co-Head of European Private Equity at KKR, where he manages the largest private fund in Europe with $8BN in the latest fund. Philip has led KKR's investments in FGS Global, Superstruct, Axel Springer SE, BMG Rights Management, Fotolia, GetYourGuide, GfK SE, Leonine, Mediawan SAS, Scout24 Switzerland and Trainline. Previously, Philip worked at McKinsey & Company in and co-founded Berlin-based VC firm Venturepark, Europe's first pan-European incubator. Agenda: 00:00 – "We Lost $500M in Turkey. Here's Why We'll Never Do It Again." 01:40 – Inside Europe's Biggest PE Fund: $8B of Pure Firepower 03:55 – The $100M Dot-Com Failure That Changed My Career 06:45 – Why Picking the Wrong VC Will Destroy Your Company 10:20 – KKR's $500M COVID Gamble: Genius or Insane? 12:35 – Why We Ignored the Market & Deployed 40% of Our Fund 15:55 – KKR's Ruthless Portfolio Discipline: Love Doesn't Matter 17:10 – Do Power Laws Apply in PE? Freise Destroys the Myth 18:45 – The Truth About Capital Intensity in the Age of AI 20:10 – Can AI Kill the PE Model? Here's What Philipp Says 26:00 – The Secret to Great Investment Decisions at KKR 32:40 – Why There's a $3T Liquidity Time Bomb in Venture 34:25 – The Death of IPOs? How KKR Exits Without Going Public 40:05 – Will KKR Europe Hit $20B? Freise's Bold Prediction 43:45 – Helsing, Space, and Defense: The New Age of DeepTech Bets 45:30 – Tariffs, China, and the Future of the German Car Empire 47:00 – Freise vs. Bitcoin: Will USD Still Rule in 10 Years? 48:15 – 4 Global Shocks Happening Right Now That You Need to Know 51:30 – KKR Missed Spotify AND Alibaba?! The Painful Stories 53:00 – Do Andreessen & General Catalyst Scare KKR? Freise Responds 54:30 – The One Metric That Will Define KKR's Next Decade  

988: In this episode of Technovation, we feature a panel from the Metis Strategy Summit moderated by Metis Strategy's Co-Head of Executive Networks, Media, and Research Steven Norton, exploring how senior technology executives are aligning AI to their business strategy. Joining the conversation are Ryan Snyder, CIO of Thermo Fisher Scientific; Ramkumar Rayapureddy, CIO of Viatris; and Allen Fazio, CIO of Houlihan Lokey. Together, they share how their organizations are evolving from isolated AI pilots to holistic strategies grounded in business value, robust governance, and relentless data modernization. The panelists discuss the practical realities of establishing clear measurement frameworks, navigating the tension between centralized control and decentralized innovation, and leading cultural change as AI adoption accelerates across regulated and fast-moving industries.