It has been an eventful week, and it's easy to fall behind. Here are the 10 most important reads of the week.
Money-Manager Purge Boosts University Of California's Return. The University of California’s decision to cut back on outside money managers is paying off. The state system, which oversees more than $110 billion of assets, slashed about 100 funds in three years to reduce fees and better concentrate its bets, according to Chief Investment Officer Jagdeep Bachher.
A Look At Carnegie Corporation's ‘Cognitive Diversity’ | Ken Lee, Director Of Investments | Exclusive Q&A. Ken Lee is the director of investments at Carnegie Corporation of New York. He is one of five senior investment professionals managing a $3.3 billion endowment allocated to a range of traditional and alternative assets. In this interview, Lee discussed the ins and outs of working within a smaller investment team; identifying great managers and idiosyncratic opportunities; and why Carnegie’s investment team is fond of cognitive diversity.
Worst Drawdown Ever? Hedge Fund Losers Down More In 2017 Than 2016. Hedge funds on the losing end of the scale are more pronounced on a year over year basis, with the worst drawdown fat left tail nearly 20% larger.
10 Family Offices Committed To Impact Investing. There is a growing trend among family investment groups to invest more into impact investment initiatives. Here are ten family-linked investment groups - in no particular order - that are leading the pack in impact investing and venture philanthropy.
Why Family Offices Dislike Actively Managed Funds. Here’s what one family office CEO says about active asset managers: “We find they’re not good fiduciaries. They’re in the business of collecting management fees.”
Growth Factors In Major Emerging Markets | Investor Panel - Part I. Emerging markets bear high growth potential for institutional investors while having their country-specific restraints, such as poor infrastructure, regulatory barriers and so on. In this panel, two venture capitalists from India and Brazil, and a U.S. family office investor identify areas of growth in markets they specialize in and the parameters they use to evaluate these sectors.
Greylock COO Steps Down Over ‘Significant Lapse Of Judgement’. Another Silicon Valley venture capitalist is out of a job over allegations that he engaged in inappropriate behavior. Tom Frangione, chief operating officer of Menlo Park-based VC firm Greylock Partners, has resigned afer engaging in behavior that a firm spokeswoman said “would represent a significant lapse of judgement that is inconsistent with our values."
Social Capital Co-Founder To Join Kleiner Perkins. Mamoon Hamid, a longtime partner at U.S. Venture Partners who went on to co-found Social Capital with Chamath Palihapitiya in 2011, is reportedly moving on to Kleiner Perkins Caufield & Byers. Here's what his new role will entail.
Hedge Fund Manager Charged For Scamming Investors Out Of Millions. A Ponzi-like scheme that would make Bernie Madoff proud has been uncovered in Boston, authorities say. Massachusetts officials have charged hedge-fund manager Raymond Montoya with scamming investors out of millions of dollars.
Silicon Valley Luminaries Preparing For Robot Take Over. Reid Hoffman, co-founder of LinkedIn and influential investor, told The New Yorker earlier this year that around half of all Silicon Valley billionaires have some degree of ‘apocalypse insurance.’