LP10X - Advising $90 Billion in Institutional Capital - Nolan Bean, CIO, FEG Investment Advisors

Feb 10, 2026

39:23

forum

Ask episode

view_agenda

Chapters

auto_awesome

Transcript

info_circle

Episode notes

How do the world’s smartest institutional investors actually allocate capital?

In this episode, we sit down with Nolan, a veteran CIO with over two decades of experience allocating capital for endowments, foundations, family offices, and healthcare systems — overseeing more than $90B in assets across public and private markets.

We go deep into how institutions think about risk, liquidity, and long-term returns, why venture capital remains a power-law game, and how investors are navigating today’s biggest shifts — from AI and private credit to diversification risks and market cycles.

This conversation pulls back the curtain on how capital is really deployed behind closed doors — especially in a world where exits are slower, fundraising is harder, and everyone is asking whether we’re closer to 1997… or 1999.

⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.com

What you’ll learn in this episode:

- How institutions decide how much risk they can truly take

- Why venture capital allocations haven’t disappeared — but have slowed

- Private credit vs venture capital: how LPs actually think about the trade-off

- How AI is reshaping portfolios across public and private markets

- Why diversification matters more now than during bull markets

- What CIOs are watching for as we head into 2026

Whether you’re a fund manager, LP, founder, or just curious about how institutional money really works, this episode offers rare, first-principles insight into long-term capital allocation.

(00:00) - Podcast Teaser: Risk, Returns, and Venture Capital

(00:48) - Introduction to Nolan Bean and FEG Investment Advisors

(02:20) - Nolan's Career Journey: From Associate to CIO

(03:16) - What is FEG and the Outsourced CIO (OCIO) Model?

(05:18) - The Four Key Risks for Institutional Investors

(08:32) - Ranking Institutions by Risk Appetite

(10:20) - A Breakdown of Institutional Asset Classes

(13:05) - Institutional Openness to New Investment Strategies

(15:30) - The Evolving Landscape of Venture Capital

(17:36) - Why VC Fundraising Has Slowed Down

(19:12) - Venture Capital vs. Private Credit: An Institutional Debate

(21:32) - Current Institutional Preferences in VC Funds (Stage & Sector)