CIO Greatest Hits: Multi-Family Offices – Stan Miranda (Partners Capital) | Capital Allocators – Inside the Institutional Investment Industry

Ted Seides introduces the Capital Allocators University for investor relations and business development professionals and announces the summer series featuring CIOs, including Stan Miranda from Partners Capital and Jenny Heller from Brandywine. The episode replays conversations with Miranda, who recounts the founding of Partners Capital, driven by a need for independent, transparent investment management, and Heller, with additional content. Miranda discusses the firm's early strategies, growth, and investment philosophy, emphasizing diversification, a focus on specialized managers, and a data-driven approach. He also shares lessons learned across various asset classes, including private equity, hedge funds, and real estate, and discusses the evolution of the endowment model and the importance of risk management.

Outlines

Part 1: Introduction

Part 2: Partners Capital - Founding and Early Strategy

Part 3: Investment Approach and Manager Selection

Part 4: Managing Growth and Future Outlook

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CIO Greatest Hits: Multi-Family Offices – Stan Miranda (Partners Capital)

Capital Allocators – Inside the Institutional Investment Industry

Part 1: Introduction

Introduction to the Episode Sponsors: WCM Investment Management and AlphaSense

Introduction to Capital Allocators and the Summer Series Featuring CIOs

Part 2: Partners Capital - Founding and Early Strategy

Founding of Partners Capital: Identifying a Need for Independent Investment Management

Early Strategy and Growth: Absolute Return Hedge Funds and the Endowment Model

Customization, the Yale Model, and Early Mistakes in Equities

Part 3: Investment Approach and Manager Selection

Venture Capital, Manager Selection, and Quantitative Techniques

Psychometrics, Risk Management, and Tactical Asset Allocation

Fee Structures, Value-Added LPs, and Internal Capabilities

Team Structure, Private Equity Landscape, and Earnings Growth

Hedge Funds, Alternative Alternatives, and Uncorrelated Returns

Real Estate, Real Assets, and Crypto

Part 4: Managing Growth and Future Outlook

Managing a Large Asset Base, Succession Planning, and Future Directions for Partners Capital

Closing Questions: Hobbies, Pet Peeves, and Life Lessons

Outro

CIO Greatest Hits: Multi-Family Offices – Stan Miranda (Partners Capital)

Capital Allocators – Inside the Institutional Investment Industry

Part 1: Introduction

00:01Introduction to the Episode Sponsors: WCM Investment Management and AlphaSense

Introduction to the Episode Sponsors: WCM Investment Management and AlphaSense

01:51Introduction to Capital Allocators and the Summer Series Featuring CIOs

Introduction to Capital Allocators and the Summer Series Featuring CIOs

Part 2: Partners Capital - Founding and Early Strategy

06:37Founding of Partners Capital: Identifying a Need for Independent Investment Management

Founding of Partners Capital: Identifying a Need for Independent Investment Management

11:14Early Strategy and Growth: Absolute Return Hedge Funds and the Endowment Model

Early Strategy and Growth: Absolute Return Hedge Funds and the Endowment Model

15:34Customization, the Yale Model, and Early Mistakes in Equities

Customization, the Yale Model, and Early Mistakes in Equities

Part 3: Investment Approach and Manager Selection

22:43Venture Capital, Manager Selection, and Quantitative Techniques

Venture Capital, Manager Selection, and Quantitative Techniques

27:00Psychometrics, Risk Management, and Tactical Asset Allocation

Psychometrics, Risk Management, and Tactical Asset Allocation

32:08Fee Structures, Value-Added LPs, and Internal Capabilities

Fee Structures, Value-Added LPs, and Internal Capabilities

38:52Team Structure, Private Equity Landscape, and Earnings Growth

Team Structure, Private Equity Landscape, and Earnings Growth

43:41Hedge Funds, Alternative Alternatives, and Uncorrelated Returns

Hedge Funds, Alternative Alternatives, and Uncorrelated Returns

47:20Real Estate, Real Assets, and Crypto

Real Estate, Real Assets, and Crypto

Part 4: Managing Growth and Future Outlook

51:18Managing a Large Asset Base, Succession Planning, and Future Directions for Partners Capital

Managing a Large Asset Base, Succession Planning, and Future Directions for Partners Capital

54:42Closing Questions: Hobbies, Pet Peeves, and Life Lessons

Closing Questions: Hobbies, Pet Peeves, and Life Lessons

1:00:04Outro

Outro