E223: The Art of Capital Allocation at $86 Billion Scale

In this episode of the podcast, David Weisburd interviews a speaker from Future Standard, an investment firm with $86 billion in assets under management. The speaker discusses Future Standard's client base, which ranges from high-net-worth individuals to large institutional allocators, and how the firm aims to provide similar investment opportunities to both. The conversation explores the trend of wealth investors accessing alternative investments, specifically private equity, and the nuances of investing in large-cap versus mid-market buyout funds. The speaker emphasizes Future Standard's focus on mid-market PE and the importance of specialization and innovation for fund managers to maintain an edge and deliver returns. They also discuss the firm's approach to finding and building relationships with emerging managers, the value of secondaries and co-investments, and the benefits of evergreen fund structures. The episode concludes with advice for emerging managers and insights into the qualities that make GPs successful over multiple fund cycles.