Capital Allocators – Inside the Institutional Investment Industry

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Michael Ovitz – Reinventing Talent and Building Momentum at Treville (EP.455) Jul 07, 2025

Show notes

Michael Ovitz is the legendary co-founder of Creative Artists Agency, where he transformed Hollywood's talent business and built the most powerful force in entertainment. In his time at CAA, Michael shaped the trajectories of artists, filmmakers, and companies, including actors Tom Cruise, Kevin Costner, Bill Murray, Sylvester Stallone, and Barbra Streisand, filmmaker Steven Spielberg, author Michael Crichton, talk show host David Letterman, the Coca Cola Company, and many, many more. Michael transitioned from entertainment to investing thirty years ago, advising Marc Andreesen and Ben Horowitz on the creation of a16z, and most recently, partnering with Ali Hamed as Chairman of Treville Capital Group. Ali has twice been a past guest on the show, and those conversations are replayed in the feed.

Our conversation begins with Michael's formative influences from his upbringing, early lessons that shaped his relentless drive, and origins of CAA. We cover his fascination with creativity, CAA's culture of empowerment, honesty, and momentum, and frameworks for building businesses, assessing talent, focusing on relationships, and learning from new industries.

We then turn to Michael's recent work with Ali at Treville. We discuss the beginning of their partnership, the process of scaling, the building of momentum, and the systems that foster accountability, relentless follow-up, and refreshing of relationships. Michael closes with candid reflections on his mistakes and life lessons that continue to shape his remarkable path.

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

[REPLAY] Ali Hamed – Novel Venture Investing at CoVenture, Venture is Eating the Investment World 5 (Capital Allocators, EP.233) Jul 07, 2025

Show notes

Ali Hamed is the Founder of CoVenture a $2 billion investor across the capital stack of technology start-ups reinventing the economy of the future. Ali first appeared on the show three years ago when CoVenture's assets were around $100 million. That conversation is replayed in the feed. Our second conversation starts with an update on CoVenture's growth and dives into Crossbeam Venture Partners, CoVenture's venture business. We discuss Crossbeam's sweet spot, sourcing, due diligence, deal dynamics, ownership, and decision-making for follow-on rounds. We then turn to examples in fintech and platforms, and close with how CoVenture's taste for novel assets fits into the venture ecosystem. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

[REPLAY] Ali Hamed - Novel Asset Investing (Capital Allocators, EP.40) Jul 07, 2025

Show notes

Ali Hamed is the co-founder of CoVenture and Managing Partner of the CoVenture VC Fund. CoVenture is an innovative company that identifies and invests in novel assets formed by the intersection of technology and finance. The firm manages an early stage venture capital fund, direct lending fund, and crypto asset index fund, with each taking a creative twist on its market.

Our conversation starts with Ali's entrepreneurial path to the creation of CoVenture, and covers examples of previously unpriced investment opportunities, including produce receivables, employee payroll loans, AirBnB accounts, and loans against employee stock options. We walk through the world of crypto assets and the state of the venture capital industry. Ali's fresh lens on the world offers a fascinating perspective on every aspect of early stage investing.

If I didn't say it in advance, you'll be astounded to hear that Ali is only 26 years old. He's one to watch for the long-term.

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

Friends Reunion 3 – Five Allocators Riff on Investing (EP.454) Jun 30, 2025

Show notes

Today's episode brings together four of my oldest friends in the allocator business for the third time for an unscripted conversation on markets, portfolios, and life. My guests are Brett Barth of BBR Partners, Meredith Jenkins of Trinity Wall Street, Jon Harris of AIM, and Casey Whalen of Lazard Wealth. Over two decades, our dinner crew has shared investment ideas and perspectives through cycles, and this conversation continues the tradition two years after their last appearance on the show.

We kick off with a lighthearted round of Final Jeopardy before diving into the current state of private markets and portfolio liquidity, tax considerations for different investor types, public equities, niche ideas, the role of AI in the investment process, and leadership and team building.

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

Hugh MacArthur – Private Equity's Challenges and Opportunities (EP.453) Jun 23, 2025

Show notes

Hugh MacArthur is the Chairman of Bain & Company's Global Private Equity Practice, which he helped found more than thirty years ago. Hugh's consulting team works on around 5,000 investment opportunities every year and comprises the largest practice area at Bain. He also hosts the "Dry Powder" podcast, my favorite in the private equity space.

Our conversation covers Bain's work in private equity across due diligence, sourcing, value added support, and strategy for both GP and LP organizations. We then discuss findings from Bain's latest Global Private Equity Report, including data on the slowdown in deal activity, liquidity bottleneck, private wealth inflows, carveouts, AI, and competitive positioning. We close with Hugh's perspective on the winners and losers of the next era, and the strategies GPs and LPs need to pursue to come out on the right side of a changing industry.

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452) Jun 16, 2025

Show notes

Bob Oros is the outgoing Chairman and CEO of Hightower Advisors, a leading RIA platform with over $165 billion in assets under management. Bob has spent three decades in the wealth management industry, including stints at Charles Schwab, LPL, and Fidelity before joining Hightower in 2019. During the last six years, he oversaw fifty acquisitions of RIAs that he integrated under Hightower's Well-th Rebalanced culture.

Our conversation shares a perspective on how RIAs function and allocate capital at scale. We cover the evolution of private wealth from product sales to holistic planning, the founding and transformation of Hightower, and Bob's approach to building a scalable, advisor-focused platform. We discuss Hightower's acquisition strategy and process, advisor retention, and private equity ownership, and then turn to its investment approach that blends centralized oversight with advisor flexibility. We close with Bob's decision to step down as CEO in an exciting time for the business and some leadership lessons he's picked up along the way.

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

Josh Koplewicz – Flexible Capital and Creative Structures at Thayer Street (EP.451) Jun 12, 2025

Show notes

Josh Koplewicz is the Managing Partner of Thayer Street Partners, a boutique private equity firm he founded in 2012 that provides flexible growth capital to lower middle market companies in financial and business services.

Our conversation traces Josh's journey from his early fascination with business and real estate to building Thayer Street into an institutional platform. We discuss the lessons he learned at Goldman Sachs and his transition from scrappy dealmaker to fund manager. We cover Thayer Street's thematic sourcing, deal structuring, and portfolio construction, the evolving landscape for non-bank growth capital, challenges of scaling a boutique firm, and Josh's vision for Thayer Street's future.

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

David Breach – Software Specialist Enters Private Wealth (Private Wealth 6, EP.450) Jun 09, 2025

Show notes

David Breach is the President and Chief Operating Officer of Vista Equity Partners, a leading specialist in enterprise software investing with over $100 billion in assets. David joined Vista a decade ago when it managed $13 billion and has been instrumental in helping manage its rapid growth. Robert Smith, Vista's founder, was a past guest on the show, and that conversation is replayed in the feed.

Our conversation centers on Vista's strategic expansion into the private wealth channel. David shares the firm's rationale for moving beyond its institutional roots, the lessons learned from other industry leaders, and the operational buildout required to serve private wealth investors. We discuss Vista's approach to product design and the pitch to offer differentiated exposure. David also addresses the challenges of balancing the needs of institutional and private wealth investors and maintaining discipline as more capital flows into alternatives.

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

[REPLAY] Private Equity Masters 3: Robert F. Smith – Vista Equity Partners (Capital Allocators, EP.202) Jun 09, 2025

Show notes

Robert F. Smith is the Founder, Chairman and CEO, Vista Equity Partners. Vista is a private investment firm that focuses entirely on enterprise software companies and manages $75 billion in assets across private equity, permanent capital, credit and public vehicles.

Taken together, Vista's current portfolio companies are about 70 in number and house 70,000 employees, 700,000 customers across 175 countries, and 200 million global users. Its combined revenue would make the portfolio one of the largest enterprise software companies in the world.

Our conversation covers Robert's background, the special characteristics of enterprise software, screening potential targets, adding value through industry expertise, assessing management teams, employing operational and financial leverage, and exiting investments. We then turn to managing Vista and the competitive landscape, and close with reflections on Robert's past mistakes and impact through philanthropy.

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

Kipp deVeer – Scaling for Private Wealth Globally in Credit (Private Wealth 5, EP.449) Jun 02, 2025

Show notes

Kipp deVeer is the Co-President of Ares Management, a leading global public alternative investment firm that manages $500 billion across credit, private equity, real assets, and infrastructure. Kipp came on the show last year to share the Ares story, and that conversation is replayed in the feed.

Our conversation covers Ares' credit-centric approach to serving the wealth channel. We discuss Ares' dedicated focus and expansion in private wealth alongside a strategic acquisition five years ago, the resources and strategies Ares has developed since, the firm's approach to scaling distribution, servicing financial advisors, navigating procyclical capital flows in credit, and maintaining underwriting discipline amidst rapid growth. We discuss the challenges of building brand recognition in the channel and opportunities ahead in wealth for real assets and infrastructure investments, and in Europe and Asia.

Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)

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