CIO Greatest Hits: Public Pensions – Ash Williams (Florida SBA) | Capital Allocators – Inside the Institutional Investment Industry

In this episode of Capital Allocators, Ted Seides interviews Ash Williams, the former CIO of the Florida State Board of Administration. Williams shares his early life in Florida and how he transitioned into the investment world through a series of unexpected opportunities in state government. He discusses his experiences working with the Florida legislature and the State Board of Administration, including modernizing the state pension fund's investment authority and navigating the Savings and Loan crisis. Williams also recounts his time in the private sector at Schroeders and Fur Tree Partners, before returning to lead the SBA again during the 2008 financial crisis. The conversation covers various aspects of managing a large public pension fund, including asset allocation, team building, compensation strategies, governance, and investment decisions in private equity and hedge funds, as well as his views on social media, cyber risk, and life lessons.

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CIO Greatest Hits: Public Pensions – Ash Williams (Florida SBA)

Capital Allocators – Inside the Institutional Investment Industry

Introduction to WCM Investment Management, AlphaSense, and Ash Williams

Ash Williams' Early Life and Serendipitous Entry into Public Service

Initial State of the Florida Pension Fund and the Tobacco Divestiture Conflict

Transition to the Private Sector and Experience at Schroeders and Fur Tree Partners

Return to the Florida State Board of Administration Amidst Financial Crisis

Investment Program and Asset Allocation Strategy

Advantages of Internal Management and Low-Cost Operating Environment

Navigating Underperformance and the Importance of Character

Key Initiatives and Governance

Private Equity Strategy and Hedge Fund Performance

Closing Questions and Life Lessons

Podcast Outro

CIO Greatest Hits: Public Pensions – Ash Williams (Florida SBA)

Capital Allocators – Inside the Institutional Investment Industry

00:01Introduction to WCM Investment Management, AlphaSense, and Ash Williams

Introduction to WCM Investment Management, AlphaSense, and Ash Williams

05:30Ash Williams' Early Life and Serendipitous Entry into Public Service

Ash Williams' Early Life and Serendipitous Entry into Public Service

16:33Initial State of the Florida Pension Fund and the Tobacco Divestiture Conflict

Initial State of the Florida Pension Fund and the Tobacco Divestiture Conflict

24:13Transition to the Private Sector and Experience at Schroeders and Fur Tree Partners

Transition to the Private Sector and Experience at Schroeders and Fur Tree Partners

32:34Return to the Florida State Board of Administration Amidst Financial Crisis

Return to the Florida State Board of Administration Amidst Financial Crisis

39:42Investment Program and Asset Allocation Strategy

Investment Program and Asset Allocation Strategy

47:44Advantages of Internal Management and Low-Cost Operating Environment

Advantages of Internal Management and Low-Cost Operating Environment

53:55Navigating Underperformance and the Importance of Character

Navigating Underperformance and the Importance of Character

1:00:53Key Initiatives and Governance

Key Initiatives and Governance

1:07:19Private Equity Strategy and Hedge Fund Performance

Private Equity Strategy and Hedge Fund Performance

1:15:32Closing Questions and Life Lessons

Closing Questions and Life Lessons

1:20:46Podcast Outro

Podcast Outro