10X Capital Podcast
The 10X Capital podcast interviews the world's premier institutional investors to deliver insights on how they manage their capital. Interview topics include investment decision frameworks, capital allocation strategies, GP/LP relationships and many more.
E78: Fmr. CIO of CalPERS ($495 Billion) on Private Markets Investing
Dr. Russell Read, current CIO at 10X Capital, and former CIO at CalPERS, CIO of Alaska Permanent Fund and CIO of the Gulf Investment Corporation sits down with David Weisburd to discuss his extensive career as a premier investment professional. They dive into how large scale pensions allocate to private markets, how those plans structure co-investment programs and design a theoretical allocation strategy.
Key Points
- Being overly conservative in investment strategies can result in significant opportunity costs, as illustrated by the $20 billion difference for Alaska Permanent Fund.
- Effective internationalization of a portfolio begins with modifying benchmarks to include global opportunities, thus addressing currency and political risks inherent in international investments.
- The success of private market investments depends heavily on developing specific expertise and leveraging relationships, as demonstrated by the tailored strategies of Ontario Teachers' Pension Plan and the Alaska Permanent Fund.
Chapters
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| 1:05 | |
| 2:18 | |
| 4:25 | |
| 7:09 | |
| 11:18 | |
| 13:53 | |
| 14:17 | |
| 17:23 | |
| 19:40 | |
| 21:52 | |
| 24:58 | |
| 27:35 | |
| 29:21 |
Transcript
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