Tax-aware strategies reshape wealth portfolios

How do tax efficiency, private markets, and structural change intersect in modern portfolio construction? David Weisburd speaks with Jeffrey Fulk about his career across hedge funds, fund-of-funds, and wealth platforms, and how AlTi Global approaches tax-aware investing, private credit, evergreen structures, and evolving access to private markets. Jeff shares insights on where opportunity is emerging as markets shift and why after-tax outcomes increasingly drive investment decisions.

The views expressed herein are those of Jeffrey Fulk and do not necessarily reflect the views of AlTi Global, Inc. or its affiliates (“AlTi”). This is for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial product, a solicitation to become an advisory client of AlTi or an investor in any AlTi-advised fund, or an endorsement of AlTi, its advisory services, or investment strategies, including AlTi-advised funds. While the information and views presented are believed to be accurate and expressed in good faith, there is no assurance that they are correct, complete, or will not change over time. All investments carry risk, including loss of principal. Past performance is not indicative of future results.

Highlights:

• Jeff’s unconventional path into finance and early hedge fund investing
• Lessons from the LTCM collapse and market dislocations
• Why tax-aware strategies are reshaping wealth portfolios
• Mechanics and risks of long-short tax loss harvesting strategies
• The growing role of private credit and credit secondaries
• ETFs, correlation risk, and implications for portfolio construction
• Evergreen structures versus closed-end private funds
• Why operational simplicity matters for wealth clients
• Continuation vehicles and selective buyout opportunities
• The potential impact of private assets entering 401(k)s

Guest Bio:

Jeffrey Fulk is a senior investment professional at AlTi Global, a global wealth and asset management platform with approximately $100 billion in assets under management. He has held senior roles across hedge funds, fund-of-funds, and wealth management, including positions at Guggenheim Partners and Hightower. Jeff focuses on portfolio construction, tax-efficient investing, and integrating private markets into long-term wealth strategies.

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Sponsor:

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LinkedIn: https://www.linkedin.com/in/jeffreyfulk/

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Disclaimer:

This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Capital. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.

(0:00) Introduction (5:40) Key asset classes and strategies at Alti Global (9:56) Tax strategies in investing: Long short tax loss harvesting (17:54) Exploring the private credit market and secondaries (20:41) The rise of fixed income ETFs (24:07) 401(k)s and private assets: A new frontier (28:08) Innovations in investment structures (31:04) Evergreen structures vs. managing capital calls (34:35) Analyzing current trends in private equity (37:55) How to access top private companies (39:33) Reflections: Advice for the younger self (41:30) Closing remarks