Capital Allocators – Inside the Institutional Investment Industry Jon Hirtle – The Pioneer of OCIO (Capital Allocators, EP.98)
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May 6, 2019 Jon Hirtle, Executive Chairman at Hirtle, Callaghan & Co., is the pioneer behind the OCIO model in institutional investing. He shares leadership lessons from his Marine Corps days and Goldman Sachs, emphasizing integrity and teamwork. The conversation dives into dynamic asset allocation and risk management strategies, with insights on navigating venture capital complexities. Hirtle also discusses today's public debt landscape, advocating for equities and private credit while underscoring governance in investment decisions and the importance of customized client strategies.
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Genesis of Hirtle Callaghan
- Jon Hirtle's observation of Arthur Miltonberger consistently outperforming Goldman Sachs sparked the idea for Hirtle Callaghan.
- This led to emulating the independent investment office model with its advantages.
Emulating Independent Investment Offices
- Replicate the advantages of a multi-billion dollar independent investment office, such as cherry-picking top managers.
- Combine this with dynamic asset allocation for better security selection and risk management.
Investment Philosophy and Building Blocks
- Maximize breadth in equity investments and dampen volatility with income assets and diversifiers.
- Hirtle Callaghan uses a building block approach and factors like valuation, momentum, and quality.
