Rosemont Roundtable: Exploring the Business of Investment Management (Formerly Global Investment Leaders‪)‬ Rosemont

In the latest episode of the Rosemont Roundtable: Exploring the Business of Investment Management (formerly known as Global Investment Leaders), Chas Burkhart sat down with Barclay Douglas, an investment industry veteran with over 15 years at the helm of Criterium Advisors, a firm offering traditional consulting services, but focused on Outsourced Chief Investment Officer (OCIO) search. 
During their conversation, Barclay shares his wisdom into various aspects of the investment management industry, and specifically his wide-ranging observations on the OCIO space.

Specifically, they discuss:
Barclay's background and his career trajectory, from his early days as a trainee stockbroker, to investment management marketing and business leadership, to founding Criterium Advisors, which initially focused on total fund management consulting but expanded into traditional institutional consulting and OCIO search services in 2013.Perspectives on the growing demand for OCIO services, competitive dynamics, business models, distinguishing characteristics, scale and offerings.How Criterium and Rosemont evaluate OCIO businesses and performance and the challenges in comparison, highlighting the need for a more nuanced approach beyond traditional benchmarking.The potential future of private equity; the importance of finding an OCIO with an understanding of the space and significant outperformance in U.S. markets.The risks associated with finding the right OCIO, including undervaluing the importance of expertise in alternative investments, over-reliance on quantitative metrics, inadequately assessing fee structures and underestimating the dynamic nature of the asset management industry.Industry developments and trends that are top of mind and views on current sales and marketing strategies.
Overall, the conversation provides insights into the complexities and dynamics of the OCIO industry, emphasizing the importance of client relationships, investment integrity and sustainable business practices.

In the latest episode of the Rosemont Roundtable: Exploring the Business of Investment Management (formerly known as Global Investment Leaders), Brad Mook sat down with Wes Gallup, managing director and chief operating officer of Cary Street Partners, an independent wealth management firm based in Richmond, Virginia, with more than $8 billion in assets under management.* Their conversation centers around the evolution of Cary Street and offers insights into industry trends, growth strategy and technology's role in modern wealth management firms.
 
Specifically, Brad and Wes discuss:
How Cary Street pivoted from a corporate advisory firm to a full-service wealth management firm after an acquisition in 2007.The firm's focus on both organic and inorganic growth, including prioritizing acquisitions that enhance capabilities and improve client service over raw scale.Managing growth by providing advisor independence while maintaining a cohesive brand.The importance of technology adoption for operating efficiencies and staying competitive in the modern wealth management industry.The potential for AI and emerging technologies to enhance productivity, even while recognizing the irreplaceable value of human relationships in the advisor-client dynamic. 
Overall, the conversation underscores the importance of client-centricity, organic growth and thoughtful implementation of technology to achieve long-term success in the evolving industry landscape.
 
All episodes of the Rosemont podcast—including Rosemont Roundtable and Global Investment Leaders—are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.
 
*As of March 25, 2024, Cary Street Partners manages approximately $8 billion in assets. 

In this episode of the Global Investment Leaders podcast, Chas Burkhart, CEO of Rosemont, sat down for a conversation with Jan van Eck, CEO of VanEck, a roughly $90 billion* multi-asset firm headquartered in New York. Founded in 1955 by Jan's father, John van Eck, VanEck has gradually diversified, with the ETF business becoming dominant since its inception in 2006. Their conversation covers Jan's leadership evolution, the importance of culture and building strong teams, the strategic focus on the ETF business and the importance of being able to pivot in the rapidly changing financial services space.
 
Specifically, Chas and Jan discuss:
The evolution of VanEck over its nearly 70-year history, from a pioneering gold business to a diversified provider of niche investment offerings.Jan's role as CEO and the growth of VanEck as a leader in the industry, including the importance of focusing on personal and organizational strengths.The culture at VanEck, highlighting the importance of hiring industry experts and the resilience fostered by the tolerance for cyclicality in resource-based businesses, leading to a remarkably low turnover rate.VanEck's approach to growing and pivoting the ETF business, including their two phases of product design and the current shift towards a more distribution-oriented industry.The role of performance in driving investor sentiment and flows, and how market direction, whether income or equity-oriented, plays a crucial role in decision-making.Identifying industry disruptors and VanEck's positioning in the cryptocurrency and blockchain space.The broader industry trend of consolidation through mergers and acquisitions, and the benefits of being a private, employee-owned company with a long-term perspective. 
Overall, this episode highlights a business-minded leader who understands the importance of firm culture, building a strong team and taking strategic risks.
 
All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.
 
*As of February 7, 2024, VanEck manages approximately $90 billion in assets. 
 

In this episode of the Global Investment Leaders podcast, Rosemont’s Brad Mook sits down with Todd Briddell, chief executive officer and chief investment officer of CenterSquare Investment Management. CenterSquare is an employee-owned global real estate investment firm founded in 1987, managing over $14 billion in equity capital. The firm operates domestically and globally and offers a range of solutions for institutional investors.
 
During the conversation, Briddell sheds light on CenterSquare's evolution and how they navigated functional and ownership succession through a sale of the firm, a management buyout and rebranding.
 
Specifically, Briddell and Mook discuss:
CenterSquare's commitment to thematic investing, bringing a macro view to the table, and the importance of a client-first mentality to meet client needs effectively.CenterSquare's ownership journey, starting as a founder-owned entity, being acquired by BNY Mellon in 2006, and executing a management buyout in 2018.Details on the ownership structure post-management buyout, emphasizing inclusivity and the participation of a larger group of individuals.CenterSquare's strategic position between large corporate-owned firms and smaller, founder-led entities.The significance of cross-fertilization within the organization and how teams are brought together to prevent silos.Overall, the conversation offers valuable insights into CenterSquare's unique trajectory and broader lessons for small and mid-size firms seeking sustainable growth and strategic positioning in today's evolving landscape.
All Global Investment Leaders podcast episodes are available on Apple Podcasts, Spotify, Google Podcasts and more. Access episodes as soon as they release by subscribing today.

In this special year-end episode of the Global Investment Leaders podcast, Rosemont CEO Chas Burkhart and Rosemont Managing Director Brad Mook sit down to reflect on the industry trends and developments they observed this year. 2023 marks five years with Markel as the firm's permanent capital provider, and Rosemont has evolved from a legacy PE fund structure to a permanent capital approach. Brad and Chas discuss the benefits of long-term sustainability in contrast to the traditional exit-focused models.
 
Specifically, they discuss:
The unique relationship they've built with Markel since beginning their relationship five years ago and the importance of alignment and shared values in a partnership.The evolving motives and agendas shaping investment decisions, emphasizing the importance of patience and understanding in fostering successful, long-term relationships.The industry focus on volume and valuation, and Rosemont's views on measuring success beyond traditional metrics.The state of the marketplace, opportunities in wealth management alternatives and the role of smaller players in the industry.How Rosemont has continued to refine the characteristics and values that make potential partners a good fit. 
Burkhart and Mook also share exciting firm updates, including the addition of new team member Chris Banholzer, as well as a pending investment.
 
All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.

In the latest episode of the Global Investment Leaders podcast, Chas Burkhart, CEO of Rosemont, sits down for a conversation with Kane Brenan, CEO of TIFF Investment Management. TIFF offers outsourced CIO (OCIO) and private equity investment solutions primarily to endowments, foundations, and other charitable organizations, and manages or advises on $8 billion in assets*. The conversation between Chas and Kane revolves around TIFF's structure, investment philosophy and the challenges and opportunities in the industry.

Throughout this episode, Kane and Chas discuss:
Differentiators in the Competitive OCIO Space: The three main differentiators that set TIFF apart in this fieldLeadership Approach: His approach to his role as CEO and how he divides his time between strategy and direction, team development and mentoring, client engagement and investment activitiesLong-Term and Short-Term Strategy: TIFF's evolving short-term and long-term strategies and how they meet the needs of their diverse client baseTransition to Employee Ownership: TIFF's conversion to an employee-owned public benefit limited liability company, the benefits from the conversion and how it cultivates a more forward-looking company culture to attract talentEquity, Active Returns, and Illiquidity: The importance of equity as a cornerstone of portfolios, the value of active returns and the role of illiquidity in investments, particularly in private equity and venture capital marketsSales, Marketing and Client Service: The often-overlooked role of sales, marketing, and client-facing positions within the OCIO industry 
All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.

*As of June 30, 2023, TIFF managed approximately $8 billion, including committed capital, on behalf of its members.