E73: John Merrill on GroveStreet’s $10.5 Billion Investment Strategy

John Merrill, Partner at GroveStreet sits down with David Weisburd to discuss GroveStreet’s $10.5B SMA model. In addition, they talk about the keys to building long-term SMA relationships, a highly selective set of criteria for managers and reasons why GP’s should prefer rigorous, discerning LPs vs. fast-followers.

Speakers

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John Merrill

Guest • 86%

David Weisburd

Host • 13%

Unidentified

David Weisburd

Host • 1%

Chapters

0:00	Introduction and background of John Merrill and Grove Street
1:34	Benefits of separately managed accounts (SMAs) for institutional investors
3:39	The problem Grove Street is solving for clients
5:03	Importance of alignment in asset management
6:30	Investment process and criteria for selecting funds
10:13	Client management and characteristics Grove Street looks for in clients
13:25	Benefits of a boutique client model
16:17	Studying under David Swenson and his impact
20:14	The give and take in LP-GP relationships
22:27	Importance of landing an anchor investor for new funds
24:25	Characteristics of a good partnership between LPs and GPs
29:43	Characteristics of a top limited partner
33:17	Global investment insights and local biases
35:09	Final thoughts and closing remarks

Transcript

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