Funds that Won
Fund Launch
Welcome to Funds that Won. Where we dive deep into some of the world's most renowned investment funds. We talk to investment managers across the alternatives landscape and learn how they built their million and billion dollar asset management empires. We're talking teams, structures, portfolio management, Investment philosophy & best practices in launching and running alternative investment funds.
ABOUT LINCOLN ARCHIBALD
Lincoln helps entrepreneurs & investors start funds. Lincoln is Chief Financial Officer of Fund Launch and Managing Partner & CIO of Black Card Capital Partners
He is an expert in alternative assets and works in real estate, private equity, venture capital, and hedge funds
Lincoln has consulted on more than $2 Billion AUM
Instagram: https://www.instagram.com/lincolnarchibald
To learn more about launching and scaling your own fund, visit www.fundlaunch.com
DISCLAIMER:
All information shared are the sole thoughts and opinions of the author. Do not take any information as legal or financial advice. You should seek a certified accountant and a professional legal team for taking any further action. We are not selling or soliciting a security in any way, shape or form. This content is for educational purposes only and is not to be construed as financial or legal advice. Clients of Fund launch or Black Card Capital Partners may maintain positions and securities discussed on this podcast.
ABOUT LINCOLN ARCHIBALD
Lincoln helps entrepreneurs & investors start funds. Lincoln is Chief Financial Officer of Fund Launch and Managing Partner & CIO of Black Card Capital Partners
He is an expert in alternative assets and works in real estate, private equity, venture capital, and hedge funds
Lincoln has consulted on more than $2 Billion AUM
Instagram: https://www.instagram.com/lincolnarchibald
To learn more about launching and scaling your own fund, visit www.fundlaunch.com
DISCLAIMER:
All information shared are the sole thoughts and opinions of the author. Do not take any information as legal or financial advice. You should seek a certified accountant and a professional legal team for taking any further action. We are not selling or soliciting a security in any way, shape or form. This content is for educational purposes only and is not to be construed as financial or legal advice. Clients of Fund launch or Black Card Capital Partners may maintain positions and securities discussed on this podcast.
Episodes
Mentioned books
4 snips
Dec 6, 2023 • 1h 5min
Funds are Made for Scaling l John S. Pennington Jr. l Ep 22
We have a legend on the show today. John Pennington Jr. John shares his insights from starting over 14 businesses to running a dec-billion dollar family of funds. He shares some incredible nuggets of wisdom about finding the right partners, making the right plays in shifting markets, and why funds are the best way to scale in business. We get into the weeds and talk big picture, you don't want to miss this episode.Learn more about investment funds on our Youtube channel: https://www.youtube.com/channel/UC1_NBRSd-yIX6tyg31RzCew[00:01:03] Starting a hedge fund.[00:06:19] Transition to fund model.[00:07:19] Losing investors during transition.[00:10:13] Predicting the Asian debt crisis.[00:14:48] Becoming an institutional grade firm.[00:17:18] Capital raising strategies.[00:21:12] Pursuing institutional money.[00:25:37] Starting a business selling jeans.[00:28:29] The U.S. dollar as a product.[00:32:21] Going for a supersized idea.[00:34:00] Starting a big idea.[00:38:30] Building a strong team.[00:41:21] Choosing good partners.[00:45:25] The power of a fund.[00:47:26] Clawback in partnerships.[00:53:46] The best place for entrepreneurs.[00:54:08] Fear of being old and poor.[00:57:33] Overcoming obstacles and hard work.[01:01:08] Wasting Opportunities in America.[01:04:27] Educational purposes and legal advice.
Nov 29, 2023 • 37min
Building a $300M Energy Hedge Fund l Dynasty Power & Nancy Morales l Ep 21
From fleeing Vietnam and China with her family to building a $300M energy trading hedge fund, Nancy Morales is a force to be reckoned with. Lincoln and Nancy discuss energy trading, coming from remarkable beginnings, what makes a successful fund manager, and the unique perspective she brings to the industry. [00:01:32] Taking a Risk Together.[00:04:31] Every trade was do or die.[00:10:51] Trading electricity markets.[00:12:03] Leaving Vietnam for a better future.[00:17:00] Three different countries.[00:20:25] Female perspective and growth.[00:24:45] Traders' high earnings and structure.[00:29:22] Puerto Rico investment ventures.[00:34:09] Giving back.[00:36:55] Securities discussed on this podcast.
Nov 22, 2023 • 51min
Fixed Income Strategies l Saint Investment Group & Nic DeAngelo l Ep 20
In this episode of Funds That Won, Lincoln interviews Nic DeAngelo, President of Saint Investment Group. Nick shares the story of how Saint Investment Group started as an acquisition-focused business and later expanded to include asset management and capital raising. With over $200 million in assets under management and a successful track record of exiting projects, Nick discusses the syndication side of their business. He also highlights the shift towards a fixed income approach and the package of real estate assets they have put together. Tune in to learn more about the growth and strategies of Saint Investment Group.[00:01:17] Syndication and project performance.[00:06:19] Real estate acquisitions and underwriting.[00:07:33] Residential mortgage market exploration.[00:10:51] Non-performing debt in banks.[00:16:35] Defense against risk-free rate.[00:19:05] Housing market misconceptions.[00:23:40] Starting a fund.[00:26:00] St. Investment Group's future.[00:30:51] Industrial growth and scalability.[00:33:08] Finding leverage points and buttons.[00:38:05] Adding value through networking.[00:40:13] Getting your foot in the door.[00:43:00] Balancing work and family.[00:46:29] Efficient calendar management.[00:49:37] Communication and teamwork in business.
Nov 15, 2023 • 43min
Helping Entrepreneurs WIN l Pelion Venture Partners & Blake Modersitzki
In this episode of Funds That Won, Lincoln interviews Blake, an Managing Partner at Pelion. Blake shares the elevator pitch for Pelion, a renowned investment fund that focuses on early-stage software companies. With over $2 billion in assets under management, Pelion has experienced tremendous growth over the past two decades. Blake also discusses his journey with the firm. Tune in to learn more about the success story of Pelion and their investment strategies.Blake Modersitzki is a managing partner at Pelion Venture Partners. He has served on several public and privately held company boards. He was managing director of Novell Ventures and vice president of corporate development for Novell. Blake previously held global sales and marketing positions at WordPerfect. He earned his bachelor's degree in economics from BYU. Blake and Sandy have three children.[00:01:36] Investment success.[00:05:01] Decision-making and hiring process.[00:07:23] Decision-making process and unanimous votes.[00:12:46] Shared assets among the funds.[00:16:06] Taking companies to IPO.[00:19:22] Entrepreneurs changing the world.[00:24:07] Christmas cards and CEOs.[00:27:06] Group think and Theranos.[00:30:46] Fund size and investment strategy.[00:35:11] Get rich slow.[00:40:26] Watching movies while exercising.[00:42:58] Educational purposes and financial advice.
Nov 8, 2023 • 15min
Winner's Circle: The Pioneers of The LBO: KKR l Ep 18
In this episode, we dive into the fascinating journey of KKR, one of the largest private equity firms in the world. Founded in the 1970s by Jerome Kohlberg, Henry Kravis, and George Roberts, KKR has grown to manage an impressive $488 billion across various strategies. We explore their initial strategies, including their pioneering role in the leveraged buyout (LBO). Join us as we uncover the secrets behind their success and how they built their empire from humble beginnings with just $120,000.[00:02:09] LBO pioneers in private equity.[00:06:54] The buyout of RJR Nabisco.[00:09:14] Bidding war for RJR Nabisco.[00:13:29] Infrastructure assets.[00:17:57] RJR Nabisco acquisition.
Nov 1, 2023 • 50min
Looking Ahead l Summit Global Investments & Bryce Sutton l Ep 17
In this episode, Bryce, the co-founder of Summit Global Investments, joins Lincoln to discuss the firm's background and investment strategies. Bryce shares that Summit Global is a registered investment advisory firm managing $2 billion of clients' assets. He mentions working with a team of advisors and various fund structures. The conversation dives into the firm's inception during the market crisis in 2007-2008 and how Bryce and his partner developed their investment approach. Bryce is a member of the Fund Launch Whale Group, a group of fund managers with over $10M AUM. Bruce is an incredible member of the Fund Launch community.[00:01:03] Starting the company idea.[00:05:21] The size of fixed income market.[00:09:07] Clientele base breakdown.[00:12:05] Fragmentation in investment advisory business.[00:16:24] Growing independent advisory firms.[00:20:09] Starting a new firm.[00:25:48] What makes a fund win?[00:28:14] Following specific investment rules.[00:33:20] Starting a public product.[00:37:22] Growth objectives for Summit Global.[00:41:10] Focusing on revenue generating items.[00:45:49] The Fed's next move.[00:48:05] Follow-up as a pet peeve
Oct 25, 2023 • 15min
Winner's Circle: Informational Alpha with the Carlyle Group l Ep 16
In this episode of Funds That Won, Lincoln breaks down the Carlyle Group, a prominent private equity firm with $385 billion under management. We delve into the backgrounds of the three founders - David Rubenstein, William Conway, and Daniel Daniello - who came from diverse industries such as politics, law, venture capital, and finance. Despite the unavoidable headwinds of business, they managed to build a multi-billion dollar investment empire. Tune in to learn more about their strategies and the success of the Carlyle Group.[00:01:01] Founding of Carlyle Group. [00:04:28] Private credit opportunities. [00:09:06] Government contracts and political influence. [00:11:49] Behavioral alpha in investing.
Oct 18, 2023 • 54min
Venture Capital is Winner Take All l David Frazier & Frazier Group l Ep 15
In this episode of Funds That Won, David Frazier from the Frazier Group shares the story behind their success as a family office turned venture capital fund.. He discusses the challenges faced by angel investors and the importance of keeping track records. David highlights their approach of "shooting fish in a barrel, not throwing darts" as their core mantra for investment strategies. [00:02:01] Shooting fish in a barrel. [00:06:23] Fund structure and LP expectations. [00:09:00] Piling money into a company. [00:16:38] Valuing companies in secondaries. [00:20:11] QSBS tax treatment. [00:23:55] Finding true competitive moats. [00:27:10] Build relationships with smart people. [00:32:07] California deals and personal connections. [00:37:17] The current state of VC market. [00:40:05] The promise of AI. [00:44:09] Real estate investment committee. [00:48:29] Excessive posturing in business. [00:52:22] Fund Launch Partners appreciation.
Oct 11, 2023 • 50min
GP Stakes l Fund Launch Partners & Lincoln Archibald l Ep 14
In this episode, we are flipping the script. My long-time friend and colleague, Bridger Pennington interviews me about Fund Launch Partners, a GP stakes fund launched just this month. We get into the nitty gritty of this kind of fund, our investment thesis and what I see in the future. [00:00:58] GP stakes Fund Launch Partners. [00:03:22] The Greenwich Economic Forum. [00:08:03] Emerging managers and outlandish returns. [00:10:46] Betting on the jockey. [00:13:09] GP stakes industry. [00:18:59] Returns for limited partners. [00:21:15] GP stakes fund explanation. [00:25:10] Long-term partnership with portfolio funds. [00:28:16] Emerging managers in turbulent times. [00:30:55] Partnering with FunLaunch and beyond. [00:34:20] Favorite business book. [00:39:29] GP stakes fund expansion. [00:42:06] Growing up and empathy. [00:46:17] Life's suitcase and its contents. [00:48:07] Be intentional about your suitcase.
Oct 4, 2023 • 13min
From $265K to $67 Billion: Citadel Capital & Ken Griffin l Ep 13
In this episode of Funds That Won, Lincoln dives into the success story of Ken Griffin and his hedge fund Citadel. With $67 billion in assets under management and $16 billion in net income last year, Citadel has become one of the giants in the hedge fund industry. We explore how Ken started trading in college and discovered a successful convertible bond trading strategy that propelled his success. Tune in to learn more about Citadel's products, strategies, and how they ultimately became winners in the hedge fund game.Don't forget to rate and review![00:01:37] The convertible bond trading strategy. [00:04:12] Citadel's near bankruptcy. [00:08:09] Ken's robust empire and strategies. [00:11:15] Phone carrier example.
