Capital Allocators – Inside the Institutional Investment Industry Sarah Samuels – Framework and Rigor at NEPC (Capital Allocators, EP.264)
Aug 1, 2022
Sarah Samuels is the Head of Investment Manager Research at NEPC, bringing extensive experience from top endowments and public pension funds. In their conversation, she delves into her unique investment framework, blending qualitative and quantitative analysis. Key topics include her approach to second-level thinking, the challenges of managing extensive investment teams, and the evolving landscape of private markets. Additionally, Sarah discusses her commitment to diversity and inclusion, particularly through initiatives like Girls Who Invest, underscoring the importance of alignment in investment strategies.
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Second-Level Thinking
- Avoid first-level thinking (e.g., past performance dictates future results).
- Engage in second-level thinking, considering complex variables and contrarian viewpoints.
CIO Mindset
- Encourage every team member to adopt a CIO mindset, understanding the entire portfolio.
- Establish a common language across asset classes for robust discussions.
Alignment of Interest
- Ensure alignment of interests with private market managers by examining terms, succession risk, and key person provisions.
- In public markets, consider fee allocation and liquidity matching.