October 22, 2024
The Long View—a series from GEM’s Co-CIO, Matt Bank— explores a range of topics relevant to the fiduciaries and allocators of institutional capital.
In Part I of his three-part series on the Endowment Model, Co-CIO Matt Bank argued that the Endowment Model is better thought of as a set of investment principles than a recipe to be followed. Merely replicating the asset allocation of Yale’s Investment Office or another leading institutional investor has always been an unlikely path to success for the average investor. Nevertheless, blaming the model for the disappointing performance of institutional funds over the last decade-and-a-half has become sport.
Active management in any form is, for the most part, doomed in aggregate.
But that’s not the whole story.
In Part II of the series, Bank unpacks the flawed quantitative arguments often used by the Model’s detractors in assessing endowment performance and presents a better framework for evaluating long-term success.
As university endowments brace for tighter liquidity constraints amid federal funding cuts, Co-CIO Matt Bank spoke with FundFire about how these changes will impact portfolio construction and spending strategies going forward.
Caroline Dallas was featured in McGuireWoods’ latest “Women in PE and Finance to Know.” She shares what drew her to institutional investing, her observations on the challenges facing women in private equity, and the various ways GEM seeks to support emerging managers.
Our 2024 Impact Report highlights how our continued commitment to impact investing is helping us navigate challenges and drive positive change.
Let’s start a conversation about how we can help.
