This podcast episode explores the benefits of separately managed accounts (SMAs) and GroveStreet's successful approach to solving their clients' challenges in the private equity market. GroveStreet specializes in lower mid-market buyouts, venture capital, and co-invests, and offers highly customized portfolios that provide a high degree of customization, efficiency, and alignment between the firm and its clients. Their focus on customization, high partnership, and alignment sets them apart in the industry. The episode also discusses the importance of alignment, value-add in venture capital, client management, conflicts of interest, the qualities of a respected portfolio manager, LP-GP relationships, and the significance of peers and global perspectives in investment management.