Tag: Private Markets

Feature Image Ep 24
Improving Alpha: Catherine Ulozas on Innovating a Billion Dollar Endowment

Improving Alpha: Catherine Ulozas on Innovating a Billion Dollar Endowment

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Information overload can occur in even the most skilled institutional investor when considering the amount of managers and intelligence competing for their time and attention. How can a leading endowment CIO or portfolio manager navigate the volume of financial statements, capital calls, risk/reward ratios, and more? How can they mentor junior analysts to find the diamonds in the rough to help generate alpha?

In our latest Improving Alpha podcast, host Michael Oliver Weinberg sits down with Catherine Ulozas, Chief Investment Officer, Senior Vice President, Investment, Drexel University. Catherine shares her extensive background from the early years at ING Direct prioritizing safety in fixed-income investments and how that brought her to the CIO role at Drexel University.

 Additional highlights from Catherine’s podcast interview include: 

  • how is Catherine looking at the endowment risk today, especially in light of increased inflation, increasing spending rates by the university, and more.
  • why was it a critical mission of the endowment to save St. Christopher’s Children’s Hospital in Philadelphia, and how did the $40 million line of credit get paid back in record time.
  • the innovations that her team is making both on an operational level and through advanced analytics.
  • how Drexel’s endowment considers ESG and why Catherine believes the “G” tends to drive a lot of progress across the environment and social aspects of this acronym.
  • positive aspects in real asset investing and the appeal of emerging markets for future asset allocation.
  • how was Drexel able to overcome the deployment challenges of assets in private markets and what are the red flags that her endowment team uncovers when considering investment opportunities.
  • and more

Resources:

Connect with Michael Oliver Weinberg: 

Connect with Catherine Ulozas:

About Catherine Ulozas:

With over 30 years of investment experience, Catherine Ulozas is a senior executive who has managed pools of capital for endowments, insurance companies, the largest US thrift, and a state pension fund. Catherine is the Chief Investment Officer at Drexel University and has continued to improve the Drexel Endowment’s quality and returns, scoring in the top 10% in the Wilshire Consulting Foundations and Endowment Universe for the last 5 years. 

The information covered and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Vidrio Financial, and/or our host, Michael Oliver Weinberg. The Content has been made available for informational and educational purposes only. The Content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.

The release date may not correspond to the recording date.

Feature Image Ep 13
Improving Alpha: William J. Kelly, CAIA on disrupting data transparency in the institutional markets

Improving Alpha: William J. Kelly, CAIA on disrupting data transparency in the institutional markets

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As institutional investments become increasingly intricate, it is crucial to bring transparency (and perhaps even enlightenment) to both GPs and LPs. Large data sets and the scale of innovative technology shows no signs of decelerating for those seeking alpha. Serving as a cautionary tale for this installment of Improving Alpha, a famous quote by renowned British Economist Ronald H. Coase once said, “ if you torture the data long enough, it will confess to anything”.

Join Michael Oliver Weinberg as he sits down with William (Bill) J. Kelly, CAIA, President & CEO of the CAIA Association, in this captivating episode. In just :40 minutes, Bill shares his insightful perspectives on the ever-increasing regulation of private markets and the importance of data transparency. Dive into the fascinating world of AI and large language models, and explore the latest trends in ESG. Don’t forget to click on the audio play button at the top of this page to uncover even more valuable insights.

Further highlights cover: 

  • a brief overview of CAIA and FDP, explaining their origins and their roles in the alternative investments industry
  • the critical importance of being able to upskill and cross-skill the cast of characters that define the investment process, and how the process has changed over the last 10 years.
  • will artificial intelligence ever be able to build a comprehensive mosaic around cash flow, manager letters, and more.
  • learning what’s on the minds of larger allocators when it comes to increasing regulation by the SEC, and would real opinions be presented better with a ‘truth serum’ cocktail on data transparency.
  • the huge potential of doing well at one pillar of ESG, while simultaneously nuking another pillar. 
  • And more!

Connect with Michael Oliver Weinberg: 

Connect with William (Bill) Kelly:

About William (Bill) Kelly:

William (Bill) J. Kelly, CAIA is the President & CEO of the CAIA Association. Bill has been a frequent industry speaker, writer, and commentator on alternative investment topics around the world since taking the leadership role at the CAIA Association in January 2014. Previously, Bill was the CEO of Boston Partners and one of seven founding partners of the predecessor firm, Boston Partners Asset Management which, prior to a majority interest being sold to Robeco Group in Rotterdam in 2002, was an employee-owned firm. Bill’s career in the institutional asset management space spans over 30 years where he gained extensive managerial experience through successive CFO, COO, and CEO roles. In addition to his current role, Bill is a tireless advocate for shareholder protection and investor education and is currently the Chairman and lead independent director for the Boston Partners Trust Company. He has previously served as an independent director and audit committee chair for ’40 Act Mutual Funds and other financial services firms. He is also currently an Advisory Board Member of the Certified Investment Fund Director Institute which strives to bring the highest levels of professionalism and governance to independent fund directors around the world. A member of the board of the CAIA Association, Bill also represents CAIA in similar capacities via their global partnerships with other associations and global regulators. Bill began his career as an accountant with PwC and is a designated Audit Committee Financial Expert in accordance with SEC rules. 

The information covered and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Vidrio Financial, and/or our host, Michael Oliver Weinberg. The Content has been made available for informational and educational purposes only. The Content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.

The release date may not correspond to the recording date.

Feature Image Ep 10
Improving Alpha: Scott Pittman on Maintaining Convictions and Balancing Portfolio Diversification at Mount Sinai’s Endowment

Improving Alpha: Scott Pittman on Maintaining Convictions and Balancing Portfolio Diversification at Mount Sinai’s Endowment

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In today’s ever-changing investment landscape, not all institutional investors can conform to a one-size-fits-all approach. This is particularly evident in the healthcare endowment sector, where our esteemed specialist oversees a staggering $2.3 billion portfolio of endowed funds and long-term capital. When you add in the support for insurance-related assets, totaling approximately $4.0 billion, and benefit plan assets amounting to around $6 billion, it becomes clear that strong investment convictions are essential for navigating diversification challenges and driving innovation.

In this highly anticipated episode of the Improving Alpha podcast, join Michael Oliver Weinberg as he engages in a compelling conversation with Scott Pittman, SVP and Chief Investment Officer at Mount Sinai Medical Center. Gain valuable insights into Scott’s visionary objectives for the future and discover how he strategically harnesses the power of research, fundamental and quantitative analysis to drive exceptional performance and unlock investment value.

Scott discusses:

  • his career evolution and how his passion for investing and science led him to Mount Sinai’s endowment.
  • how a medical endowment compares and contrasts against other allocators and how the complexity of the healthcare industry impacts the team’s investment decisions.
  • where do directional risk taking strategies help to improve alpha across public and private markets, non-equity markets, and even credit.
  • his insightful perspective on diversification and its correlation with manager relationships, encompassing market exposure and active fees.
  • what sort of sector and industry trends does Mount Sinai research before diving into the regional investments in Europe, Asia, and other areas.
  • the significance of ESG considerations and the effective two-step process employed to align Mount Sinai’s views on ESG with their future investments
  • And more!

Connect with Michael Oliver Weinberg: 

To learn more about our host visit: https://www.vidrio.com/blog/improving-alpha-podcast-scott-pittman-convictions-diversification-mount-sinai-portfolio

Connect with Scott Pittman:

About Scott Pittman:

Scott Pittman joined the Mount Sinai Health System as the SVP and Chief Investment Officer in December 2008.  The Investment Office is charged with managing the institution’s $2.3 billion endowment and long-term capital.  The office also helps advise on $5.0 billion of insurance-related assets and $5.5 billion of benefit plan assets.  Scott serves as the Chairman of the FOJP Investment Committee as well as the Investment Committee Chairman for Healthfirst.  Scott also serves on the Investment Council for TIAA-Nuveen.

Prior to joining Mount Sinai, Scott was the Director of Investments at Baylor University.  He also served as an instructor in the Hankamer School of Business and taught Baylor’s Portfolio Practicum course where students actively managed a $6.5 million investment portfolio.  Before joining Baylor’s Investment Office, Scott taught Corporate Finance and Economics at the University’s business school, and he spent several years in the healthcare industry.

The information covered and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Vidrio Financial, and/or our host, Michael Oliver Weinberg. The Content has been made available for informational and educational purposes only. The Content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.