The Investment Diversity Exchange (TIDE)

Featuring the hottest, the most high-profile, the best LPs & GPs in the industry... TIDE SPARK is the first to feature Marcie Frost of CalPERS & Scott Chan, CFA in his new role as CIO of CalSTRS in an exclusive Fireside Chat. Check out the rockstar Speaker Roster. It doesn't get better than this... For those of you who have already signed up for TIDE SPARK, you're in for a treat. TIDE SPARK is SOLD OUT.

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Absolute return strategies have been a constant for some, but for others, they have come back into focus given a prolonged higher rate environment, prospects for increased dispersion and breadth, and the potential for more acute volatility and regime changes. How do allocators and managers build and manage resilient, long-term oriented portfolios as these meaningful shifts occur? The Investment Diversity Exchange (TIDE) panel on absolute return, featuring Raj Kohli, CFA from University Pension Plan Ontario, Ravi Chopra of Azora Capital LP and Jorge de Lafuente from Texas Treasury Safekeeping Trust Company, tackled these questions and plenty more. They were brilliant and gracious in sharing their views of the opportunity set, regulatory environments and diversity at this year's SPARK conference (and made my job as moderator incredibly easy). Thanks to everyone who joined us!

“How diversity can boost returns and opportunities” There is no shortage of things to focus on in the investment world currently. Geopolitics. Equity market concentration. Evolving regulation and client attitudes towards sustainable investing. New policies and goals emanating from a record year of elections across the globe. Unfortunately, Diversity, Equity and Inclusion appears to have fallen off the agenda for many in the asset management industry. Professional Wealth Management (PWM) published this recent piece exploring how Diversity can boost returns and opportunities; the opportunities remain significant and are supported by strong historic evidence. Article linked in the comments section by WTW 🔁 Chris Redmond Rima Sen

🌟 Key Takeaways from The Investment Diversity Exchange (TIDE) 2024 Conference 🌟 Over the two-day conference, and in between LP meetings, I attended some insightful sessions at this year's #TIDESpark2024. Here are some summarized strategic considerations for #capitalformation: 🔍 What LPs Look for in GPs: - Discipline in pricing and leverage, strong hiring practices, and consistent returns regardless of economic conditions. - A partnership mentality where economics and LP alignment are prioritized. - Adaptability: GPs should continually strive for improvement. - Ensure strategic differentiation and that teams are uniquely positioned for success. - Evaluate teams on their support of key personnel, organizational structure, communication, and in some cases DEI practices. 🤝 What Defines a Good LP/GP Partnership: - Meeting client needs comprehensively while maintaining open communication and transparency. - Avoiding conflicts of interest and ensuring managers profit only when LPs do. - Being strategic about fee considerations, especially in emerging and frontier markets. 💬 How Should GPs Build and Maintain Relationships with LPs: - Develop relationships across teams, ensure transparency, and hold productive meetings beyond fundraising periods. - Maintain open and consistent dialogue, particularly when performance is under scrutiny. - Engage with the research and advisory teams and manage expectations realistically. - Avoid subverting the diligence process. 🚀 GPs on Succesful Fundraising Strategies: - Internal team partnership is crucial. Establishing a collaborative framework focused on the bigger picture and long-term goals is very important: "An all-hands-on-deck approach is critical in this environment." - Good meetings don’t immediately convert, but managing relationships with regular communication and insight into your process will help set you up for success over time. -  What does a good meeting look like? It includes good chemistry, showing engagement through active listening and directly addressing questions, defining tangible next steps, and ending with a plan for follow-up. - Utilize placement agents wisely in tandem with an existing IR point of contact on your team. Consider their fees, which have evolved in this market, and their effectiveness based on a tactical approach: Are they region-specific? Are they geographically specific? Etc. - Leverage Investor Relations strategically by hosting frequent LPAC meetings to benefit from more in-person time, and creatively by keeping the dialogue open through events and short-form communications. - Creating a sense of urgency can be an effective tactic to close deals, including offering size and close discounts.

UPP’s Raj Kohli, CFA, Associate Director, Absolute Return Strategies, recently participated in the The Investment Diversity Exchange (TIDE) SPARK conference. He joined other institutional investors and finance industry experts to discuss approaches to building resilient absolute return portfolios while incorporating key aspects of diversity and inclusion. TIDE's mission is to advance connection and drive racial, ethnic, and gender diversity within the investment sector. Read more about TIDE here: https://lnkd.in/gT9kGuw

Two weeks after The Investment Diversity Exchange (TIDE) conference and I’m finally back in London reflecting on a fantastic couple of days in Dana Point, connecting with industry leaders who are committed to promoting diversity and inclusion in investments. Congratulations to Grace Reyes and the TIDE team for a very successful event, and thank you for having me. Thank you to Kelly Baldoni for moderating Ananya Handa, CFA, CAIA, Josh Charlson, CFA, CAIA and yours truly in the public markets panel. It was a pleasure to be able to share some views from the perspective of a European Asset Owner. The panels provided plenty of food for thought and I am taking away a few ideas (and a long list of follow ups!), but there’s a question that was asked and has been stuck in my mind (for any takers who’d like to answer): “Do you love to win or hate to lose?” People's Partnership

I asked audience members to think back to March 2020 as I set the stage for our panel discussion on the “New World of Work” at The Investment Diversity Exchange (TIDE) Spark 2024 Conference. Then I asked them to raise their hands if they were in a different role or at a different organization today.... Almost HALF of them did so.   That was one visual demonstration of how fundamentally the employer-employee social contract has evolved in recent years as it’s been influenced by changing workforce demographics, technological advancements and economic disruption. Thanks Natalie Jenkins Sorrell, Michael Hitchcock and F Vinzons for sharing some of the strategies you’re using to nurture, engage and retain talent in alignment with your organizations’ strategic and cultural priorities.    Kudos to Grace Reyes for coordinating such great content and camaraderie, and for a sold-out conference.  Getting time to kick it with a few of my partners and friends (Marc Feliciano, Maggie Coleman, Jennifer Taylor) for a few days was another huge plus...

Thanks so much to Grace Reyes and the entire The Investment Diversity Exchange (TIDE) team for an amazing #TIDESpark2024 in Dana Point CA! It was great to reconnect with other emerging managers from Features Capital, The Artemis Fund , Kaleida Capital and more while connecting with LPs and GPs alike over karaoke, pickle ball and yoga! A key insight is that while there have certainly been challenges in the VC industry recently, gender and diversity lens investing is one of the most exciting opportunities for achieving outsized returns. Looking at problems from unique, diverse perspectives results in better solutions and business outcomes. Onward!

CalSTRS are hiring! Apply now using the link in the comments. Fixed Income Quantitative Analyst, accepting applications through July 29. Private Equity Investment Officer, accepting applications through August 14. 🔁LaShae Badelita