Private Market Talks: Conversations and insights on the private markets with private capital’s leading figures.

Welcome back to Private Market Talks!  In this episode, we are joined by Shanna O’Reilly, co-head of Private Investments at Wellington Management, one of the world’s largest investment managers.  Shanna helped drive the growth of Wellington’s Private Investment platform to where it now manages over $8.5 billion of AUM. During our conversation, we discuss how she built the platform by leveraging the firm’s public market expertise, particularly in late stage venture capital. 

We cover the nuances of venture investing, risk diversification, the challenges of managing growth, and her strategy to lean into some of today’s hottest areas like credit real estate, debt and secondaries. To wrap up, we reflect on the keys to navigating a competitive landscape and essential qualities for building a unified and dynamic investment team.

In this episode, we are joined by David Golub, President of Golub Capital and one of the first movers in the private credit industry. Since its founding over 30 years ago, Golub Capital has made over $150 billion in loans and won over 40 industry awards. Today, the firm has over $70 billion of capital under management.

During our conversation, David discusses how he and his brother, Lawrence, started Golub Capital and the drivers of its consistent performance year-over-year. We discuss the current state of the leveraged loan market, including impact of the higher-for-longer interest rate environment, the resiliency of middle market companies, and the recent resurgence of the broadly syndicated loan market. We also explore key industry trends, including the potential for consolidation, the competitive advantage of scale, and the growing retail market for alternative assets. Finally, David reflects on the future of Golub capital.

In our newest episode of Private Market Talks, we’re joined by Steven Batchelor and Martina Sanow of Hg Capital, one of the largest and most successful private equity firms in the world. Specializing in technology, financial services software, and healthcare software companies in Europe and North America, Hg manages approximately $65 billion in funds and supports a portfolio of about 50 businesses worth an aggregate enterprise value of over $140 billion.

During our conversation with Steven and Martina, we discuss Hg’s investment strategy; its innovative, disciplined approach to realization on investments; and the emerging trend in private capital to attract wealthy individual investors. 

Generative AI is no longer a theoretical technology. It’s here and now, and moving fast. Private funds are moving quickly to figure out how best to use it. During this episode, we explore with Dr. Mohammad Rasouli practical considerations for private funds as they consider how to adopt and implement AI, including issues of risk management, security and confidentiality, and practical implications for human capital.

Dr. Rasouli is an AI researcher at Stanford University and founder/CEO of AIx2, a firm focused on helping funds tackle the transformative nature of AI. During our conversation, we examine how asset managers can responsibly integrate generative AI into their operations and ultimately their investment functions, the challenges and opportunities presented by this new technology, and how increasingly sophisticated AI models will reshape virtually every aspect of how private funds attract, invest and manage capital.

In this episode, we’re joined by Caroline Cooley, managing partner and CIO for Crestline Summit Strategies. Caroline joined Crestline in 1998 and has since helped build the firm into a multi-strategy, multi-portfolio and multi-billion-dollar asset manager.

During our conversation, we explore Crestline’s “platform model” and how that model allows the hedge fund to manage risk and engage and retain top talent in the industry. We also discuss Crestline’s strategy for delivering alpha through an equity-oriented, market-neutral investment philosophy. We finish with Caroline’s views on what it takes to be a successful CIO and insights into some of the formative aspects of her career.

Also joining us to lend her insights on the evolving hedge fund industry is Proskauer partner Kelli Moll. Kelli is co-head of the Firm’s Hedge Funds practice and co-lead of the global credit funds initiatives and has more than 25 years of experience advising clients across the spectrum of asset classes.

Digital Infrastructure – the cell towers, data centers, fiber and small cells that power our wireless and mobile data  – is one of the fastest growing investment sectors today.  New technologies such as 5G and IoT have put increasing demands on what many call the fourth utility and now, comes AI – the most demanding technology yet.  As the global economy transitions to all things digital, powering this revolution has become mission-critical. On this episode of Private Market Talks, we explore what is required to operate, build and scale the infrastructure at the heart of a converging digital ecosystem. We also discuss the unique real estate, energy and regulatory challenges of developing this infrastructure. 

Our guest on this installment is Kyle Colvin, managing director at DigitalBridge, an $80 billion global asset manager specializing in investing in digital infrastructure. DigitalBridge is a pioneer in the digital infrastructure landscape – not just as an investor but also as an operator through active management of its portfolio companies. Also joining us today on this episode to lend his insights is Kunal Dogra, a partner in Proskauer’s M&A group who focuses on digital infrastructure.

On this episode of Private Market Talks, we’re joined by Tim Flynn, Co-Founder and CEO of Hayfin, an alternative asset manager that has invested €35 billion of capital across more than 470 portfolio companies since its founding in 2009. Over the course of the conversation, we cover a wide range of topics, including the investment principles that have made Tim and his team so successful in private credit and leveraged finance.

Tim also describes what may be one of the most interesting career paths we’ve heard on Private Market Talks – from beekeeper to investor, and stops in between, and talks about the learnings from each experience that he still applies to this day. And of course, Tim discusses his view of the state of the private market and how it shapes Hayfin’s nimble investment strategy. It’s a great conversation and all happening on this episode of Private Market Talks!

Sengal Selassie is the founder and CEO of Brightwood Capital Advisors, a private credit firm with more than $5 billion in assets under management. Brightwood is a unique investor, providing financing to both non-sponsored-backed businesses as well as sponsor-backed companies across the middle market. They also invest in just five distinct industry verticals: technology & telecommunications, healthcare, business services, transportation & logistics and franchising.

Our conversation covers Sengal’s path to the creation of Brightwood, the evolution of its investment strategy and how he thinks about investing with sponsor-backed and non-sponsor-backed companies. We also explore the unique challenges and special gratification of working with family-founded, entrepreneur-owned businesses, including Brightwood’s sourcing, underwriting and risk management strategies. Finally, Sengal discusses what he looks for in prospective team members and his thoughts on the importance of diversity in building a strong asset management team.