Podcast
Investment Management Operations
Hosted by Ted Seides – Allocator and Asset Management Expert · EN
Discover how investment organizations are run from the industry’s top operating partners. We dive into the business of investment management by exploring functional areas across operations, investor relations, legal, finance, and technology. Key stakeholders provide insight on the business today and look to what the future may hold for capital allocators and their investment partners. Longtime operator, Scott MacDonald, hosts in-depth interviews with key non-investment principals across public and private markets. Learn more and join our community from www.capitalallocators.com.
25episodes
Episodes
Newest firstAll episodes
Cesar Estrada, Head of Private Markets – Arcesium (EP.76)
4d ago00:36:32Tap to summarizeCesar Estrada is the Head of Private Markets at Arcesium, the data and operations platform built to help private market firms scale their reporting, analytics, and oversight at an enterprise level.In today’s conversation, Cesar walks us through Arcesium’s role in private markets from its beginnings as a company spun out of DE Shaw. We discuss why “unifying the data” is front and center today and how Arcesium helps its clients with reconciliation to centralizing NAV oversight across internal teams and fund admins.From there, we turn to all things AI — how Arcesium launched a Copilot feature, what it means to move from natural language queries toward full agents, and who Cesar thinks wins and loses as AI reshapes investment operations software.For anyone building or running operations at a private markets firm, this is a sharp conversation on where the data problem really lives — and what solving it actually looks like in practice.Learn More Follow Capital Allocators at @tseides or LinkedInSubscribe to the mailing listAccess transcript with Premium MembershipEditing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)
Transcribe →Matt Shaia, Director of Investment Operations – Brockenbrough (EP.75)
3w ago00:34:46Tap to summarizeMatt Shaia is a Managing Director and the Director of Investment Operations at Brockenbrough, a Richmond-based wealth management and OCIO firm serving both institutional clients and ultra-high-net-worth families.One of the more interesting structural questions in investment management today is how a firm serves two very different client types – institutions that demand performance transparency and risk analytics, and families that want holistic, trust-based relationships, without building two separate businesses.Brockenbrough has found a way to do exactly that, and Matt has been at the center of building the operational infrastructure that makes it work.We cover how Matt evolved from research analyst to firm-wide operations leader, how Brockenbrough runs a shared investment engine across its OCIO and private wealth platforms, and the technology and data philosophy they’re using as AI tools proliferate. We also get into what it actually takes to differentiate in the private wealth market when everyone is chasing the same technology stack.Learn MoreFollow Capital Allocators at @tseides or LinkedInSubscribe to the mailing listAccess transcript with Premium MembershipEditing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)
Transcribe →Sloane Payne, COO, & David Joerger, CCO – WCM Investment Management (EP.74)
Apr 2100:57:08Tap to summarizeSloane Payne and Dave Joerger are the COO and CCO respectively at WCM Investment Management, an independent investment firm managing $120 billion in assets. WCM has built something unique – a firm culture that actually gets stronger as it grows. Sloane and Dave share the team’s simple, trust-first approach to building organizations. They’ve stripped away unnecessary layers to create a repeatable process for scaling culture. In our conversation, we unpack the lessons from the founder’s past that shaped WCM’s philosophy of hiring for character over credentials. They share what it really takes to lead through growth without losing the essence of what made the firm special. We then turn to the mechanics – how modeling behavior, candid feedback, “honoring the absent in a meeting” and accountability have made WCM what it is today and how that mindset influences the leadership’s approach to compensation, ownership, and succession. Finally, Sloane and Dave explain how WCM’s anti-corporate ethos guides everything from product design to talent decisions – and what that means in an industry drifting toward more systematized management cultures. Learn More Follow Capital Allocators at @tseides or LinkedInSubscribe to the mailing listAccess transcript with Premium MembershipEditing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)
Transcribe →Henry Ward, CEO – Carta (EP.73)
Apr 700:40:32Tap to summarizeHenry Ward is the CEO and co-founder of Carta, the platform that began as a cap table tool and has since evolved into what Henry describes as the ERP for private markets. His path to building private market infrastructure is a masterclass in knowing when to pivot and when to double down. Given his product-led approach, I had to dig into Carta’s distinct chapters. Henry shares how he thinks about recognizing inflection points, the aha moment behind the ERP thesis, and what it actually takes to lead a company through multiple reinventions without losing steam. From there, we turn to Carta’s three-layer network spanning companies, funds, and allocators, the thinking behind its latest acquisitions and how Henry balances build versus buy in a market that is accelerating. He also shares how AI is reshaping product development at Carta and who he thinks wins and loses in the AI-driven SaaS disruption ahead. For operators and allocators alike, Henry offers a sharp perspective on where private market tech is maturing, where the real disruption is still to come, and how leadership style shapes hiring, culture, and outcomes at scale. Learn More Follow Capital Allocators at @tseides or LinkedInSubscribe to the mailing listAccess transcript with Premium MembershipEditing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)
Transcribe →Griff Norville, Head of Technology Solutions – Hamilton Lane (EP.72)
Mar 2400:45:44Tap to summarizeGriff Norville is the Head of Technology Solutions at Hamilton Lane, one of the world’s largest alternative asset managers.Today’s investment leaders are navigating a technology landscape that is moving faster than ever: from AI adoption to tokenization to digital investment workflows.I sat down with Griff to explore how Hamilton Lane has built a data and technology infrastructure that is reshaping how allocators think about private markets.We cover how Hamilton Lane developed its Cobalt platform, why private market data is still a frontier problem, how AI is beginning to change the way allocators analyze and act on information, and leaders at asset managers and allocators should be paying attention to right now.Learn More Follow Capital Allocators at @tseides or LinkedInSubscribe to the mailing listAccess transcript with Premium MembershipEditing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)
Transcribe →Stuart Chapman, Director & Head of ODD – Strategic Investment Group (EP.71)
Mar 1000:54:43Tap to summarizeStuart Chapman is a Director and Head of Operational Due Diligence at Strategic Investment Group, a $30B OCIO serving a mix of pension, endowment, and nonprofit clients.Operational due diligence doesn’t always get the spotlight, but it should. Stu shares his insight on his process that sits completely outside the investment function — giving ODD a genuine seat at the table and, veto rights when necessary.We cover how Stu thinks about operational risk, when to work with a manager to improve processes, the current state of continuous dynamic monitoring, and why the onsite visit still matters — from building true long-term partnerships to seeing firm culture in a live environment.We also get into emerging manager infrastructure, the operational implications of offering retail products to the wealth channel, and why alpha without real infrastructure and operational leadership can slow you down.Learn MoreFollow Capital Allocators at @tseides or LinkedInSubscribe to the mailing listAccess transcript with Premium MembershipEditing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)
Transcribe →Alex Harstrick & Jonathan Bronson, Co-Founders – J2 Ventures (EP.70)
Feb 300:50:42Tap to summarizeAlex Harstrick and Jonathan Bronson are the co-founders of J2 Ventures. J2 is an early-stage venture capital firm built at the intersection of the private sector and defense tech. A common question we often get is “how do you get out of the gate, raise money, and launch”. Every firm is different but there are common ingredients, so I turned to Alex and Jon to learn how it all came together for them. We discuss raising capital which began with what they call “tin cup” fundraising, finding first institutional checks and when to cut off low-signal LP meetings before they drain time and opportunity. From there we cover selection of service providers, team hiring, retention, and why they treat every ODD process as a form of free consulting. Whether you’re contemplating your first fund or trying to sharpen a differentiated thesis in a noisy market, this conversation offers a candid look at what it really takes to launch a firm from zero. Learn More Follow Capital Allocators 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)
Transcribe →David Li, CTO – WashU IMC (EP.69)
Jan 2001:04:32Tap to summarizeDavid Li is the CTO at Washington University Investment Management Company, where he’s led a lean, data‑driven build of the endowment’s tech stack. David’s path runs from Harvard Management Company to independent consulting to WashU, bringing a builder’s mindset to the role.For those not familiar with WashU’s concentrated, co-invest heavy approach, Ted sat down with CIO Scott Wilson a while back, and that conversation is replayed in the feed.David shares how a modular architecture with Snowflake at the center gives his team cleaner data, faster changes, and less technical debt; and how clear governance and practical security can make for efficient workflows.We also get into AI adoption in the endowment world - where to use “walled gardens,” and how to spot tools that look great in demos but fall down on data quality. For emerging and seasoned institutions, David shares concrete advice on buy‑versus‑build, vendor selection, and running pilots that surface issues early, plus how to set expectations and give business owners real responsibility so technology actually matches how investors see their portfolios.Learn More Follow Capital Allocators at @tseides or LinkedInSubscribe to the mailing listAccess transcript with Premium MembershipEditing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)
Transcribe →[REPLAY] Scott Wilson – Concentrated Investing at Washington University-St. Louis (Capital Allocators, EP. 159)
Jan 2000:54:49Tap to summarizeScott Wilson is the CIO at Washington University of St. Louis, where he oversees a $10 billion endowment. Scott joined Wash U three years ago from Grinnell College, where he learned a completely different style of endowment investing than is practiced by others.Our conversation covers Scott’s upbringing, early Wall Street career in equity research and derivatives across New York, London and Tokyo, and his leap to Grinnell. We then turn to his applying the Grinnell model at Wash U, transitioning an endowment model portfolio to a concentrated book. We touch on hedge funds and frontier markets and turn to the process of underwriting individual ideas and managers in the context of a concentrated endowment portfolio.Learn MoreFollow Capital Allocators at @tseides or LinkedInSubscribe to the mailing listAccess transcript with Premium MembershipEditing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)
Transcribe →Bill Krueger, CTO – Yale Investments (EP.68)
Jan 601:09:26Tap to summarizeBill Krueger is the CTO at Yale’s Investment Office. Bill’s unconventional path spans defense contracting, tech consulting, and a 13-year run at Bridgewater Associates before landing at Yale.Bill shares how to operate in a radically transparent culture, tighten feedback loops between decisions and outcomes, and managing the messy realities of growth, bureaucracy, and leadership. Those experiences shaped Bill’s views on trust, talent, and where technology truly differentiates.We turn to Bill’s move to the LP side at Yale where his mandate is to modernize and innovate. He explains his approach to enhancing infrastructure while partnering with key stakeholders; why he favors deep vendor partnerships over a large in-house tech team, and his views on taking a pragmatic approach to AI and the limits of traditional data lake thinking in an allocator context.For GPs and LPs, Bill offers actionable advice on avoiding the speed-versus-quality trap, staying close to the work as a practitioner, and designing tech and data foundations that can scale over time.Learn MoreFollow Capital Allocators at @tseides or LinkedInSubscribe to the mailing listAccess transcript with Premium MembershipEditing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)
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