Capital Allocators – Inside the Institutional Investment Industry

Tony Caruso, UTIMCO hedge-fund lead who co-founded Dockside. Derek Drummond, SWIB external public markets head and Dockside co‑founder. Will England, Walleye Capital CEO/CIO and Dockside entrepreneur. They discuss creating Dockside to give allocators direct access to single‑PM talent via managed accounts. Topics include sourcing managers, trade‑level transparency, risk boxes, hedging tools, capital efficiency, onboarding and exit playbooks.

Dave Joerger, CCO who moved from big law to build compliance with a trust-first approach. Sloane Payne, COO who scaled WCM with a people-first, values-driven playbook. They discuss hiring for character, treating trust as operational, making mistakes survivable, generous pay and equity, rituals and offsites that sustain culture, balancing kindness with accountability, and practical succession rules.

Alex Sloane, co-founder of Garnett Station Partners and former Burger King operator, and Matt Perelman, his co-founder with deep roll-up experience, walk through their buy-and-build playbook. They discuss scaling a franchise to national scale, finding lighthouse businesses, moving fast in fragmented markets, integration systems, disciplined capital allocation, and when to layer on debt to grow platforms.

Rodney Comegys, CIO of Vanguard Capital Management and head of global equity indexing, oversees trillions in index assets and long championed low-cost, investor-first solutions. He explains index design and implementation, rebalances and liquidity, tiny tracking-error bets, stewardship and governance, S&P concentration vs total-market benchmarks, IPO integration, and how AI and operations shape indexing’s future.

Randall Stutman, founder of Admired Leadership and longtime executive coach for Wall Street, sports, and government. He explains a behavior-first approach to leadership. He shares how he studied 3,500 admired leaders and practical steps to build habits. He breaks down feedback as low-power advice, timing, and questions that create ownership. He also discusses followership, scaling coaching with ALEX, and advice for investment leaders.

Randall Stutman, founder of the Admired Leadership Institute and longtime executive coach to CEOs across government, finance, and sport. He discusses how he discovered repeatable leadership behaviors, the idea of 'fan-ness' to motivate teams, routines for better decision-making and time management, and practical ways to evaluate and elevate senior leaders.

Joel Holsinger, Co-head of Ares' alternative credit business and founder of Promote Giving, is a seasoned credit investor turned philanthropy mover. He explains a simple pledge: commit up to 5% of fund promote to charity. The conversation highlights how the idea scaled, early grants and signatories, cultural benefits for managers, and ambitions to channel billions to good causes.

Bruce MacDonald, CEO and CIO who built VCU’s $2.5B endowment with a five-person team. He discusses building a portfolio from scratch, leaning into secular tailwinds like India, Vietnam, gold, and AI. He explains prioritizing liquidity to act in dislocations, team-based underwriting, sourcing niche managers, and lessons from past mistakes.

Kieran Goodwin, Partner at Saba Capital and veteran credit trader, shares his decades-long path from credit derivatives to distressed investing. He tackles rapid private credit growth, asset-liability mismatches, liquidity and marking risks. Short sentences cover leverage, drawdown and BDC structures, reflexive redemptions, and how he’s positioned to profit from stress.

Jeremy Grantham, GMO co-founder and legendary value investor, looks back on six decades in markets. He revisits wartime frugality, the rise of Batterymarch and GMO, and the bruising lessons of the dot-com era. He digs into bubble spotting, career risk, indexing, and why the AI boom may still lead to overinvestment. Climate philanthropy and long-horizon investing also take center stage.