Tim Sullivan – Yale’s Private Portfolio (EP.456)

In this episode of Capital Allocators, Ted Seides interviews Tim Sullivan, who recently retired from overseeing Yale University's private market portfolios for 39 years. Sullivan discusses his early days at Yale, the evolution of private equity and venture capital, lessons learned from market crashes and booms, and the importance of partnering with the right people. He shares insights on measuring operational improvements, the challenges of firm growth, and the changing dynamics between entrepreneurs and funding sources. Sullivan also touches on the liquidity bottleneck in private equity and offers advice for institutions allocating to these asset classes, emphasizing the need for realism and a focus on people.