Letti de Little is the Chief Compliance Officer for Grain Management, a private equity firm that invests in telecom, infrastructure, and wireless spectrum assets.
Today’s LP is focused on finding uncorrelated assets more than ever. But doing so often requires an understanding of the operational nuances which are different from buying traditional, tradable securities. I spent some time with Letti to unpack some of the common legal and operational elements for investing in this asset class.
We cover how wireless spectrum auctions work and how Grain manages the dual regulatory oversight of the Securities and Exchange Commission and the Federal Communications Commission. We also talk about what ODD practitioners should know about with this lesser-known strategy.
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45:01
John Fitzpatrick, Sr. Managing Director & CTO AAMT – Blackstone (EP.51)
John Fitzpatrick is a Senior Managing Director and Chief Technology Officer of Alternative Asset Management Technology at Blackstone.
These are exciting times in technology with a lot of moving parts so I was excited to sit down with John to get his perspective on where we are today and where we’re going.
John shares his thoughts on the big picture with trends in data acquisition, automation and process improvement. Whether you are a technologist or someone accountable for technology there are some great takeaways.
We also discuss common challenges of technology selection and adoption, budgeting, and how one can effectively manage expectations with non-technical leaders.
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40:47
Melissa Dickerson, MD Operations & CFO – Genstar Capital (EP.50)
Melissa Dickerson is the Managing Director of Operations and CFO at Genstar Capital, a private equity firm based in San Francisco and founded in 1988.
In today’s competitive market, a common road map to revenue diversification is product expansion or adding a new office overseas.
This conversation is a case study on having one strategy and one office.
Melissa shares her thoughts on how the industry has changed and how their operations, reporting and service provider model have evolved while expanding their LP base globally.
We then go further down the chain to explore the current state of portfolio companies and how go-to-market playbooks have changed from an all-in-one approach to using a specialist model on things like talent management, capital markets and finance.
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43:47
Scott Farden, COO – Nonantum Capital (EP.49)
Scott Farden is the COO of Nonantum Capital Partners, a Boston-based private equity firm that spun out of Charlesbank Capital Partners in 2018.
Launching a first-time private equity fund has a myriad of challenges from leaving your old firm, raising capital, finding talent and activating operations, so I turned to Scott to share his experience.
We also cover topics like proper preparation and common pitfalls when pitching LPs, building a team that can evolve with future organization complexity and things one can do to proactively build culture for firm durability.
After our sit down, Scott shared that he believes that Operations can add alpha to a PE portfolio by running it so well that it leaves the investment team out of the back office.
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48:05
Kathleen Servidea, GC & CCO – Gallatin Point Capital (EP.48)
We can’t ignore the fact that AI is playing an increasing role in our day-to-day lives. But the question is how do we do it properly?
So I turned to Kathleen to get her insights on bringing AI in house. We cover a range of topics like how to develop an AI policy, how do we identify and assess the growing list of AI service providers. Once selected, how does one perform proper legal and technical due diligence?
As an ops or legal professional what can you do yourself and when to bring in third-party vendor due diligence providers.
We also discuss the state of legal tech today and how things like ChatGPT and Perplexity AI can play a role in the fast-moving pace of investing in our highly regulated world.
This information provided is for general informational purposes only and should not be considered legal advice. For specific legal guidance, please consult your own legal counsel.
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Discover how investment organizations are run from the industry’s top operating partners. We dive into the business of investment management by exploring functional areas across operations, investor relations, legal, finance, and technology. Key stakeholders provide insight on the business today and look to what the future may hold for capital allocators and their investment partners. Longtime operator, Scott MacDonald, hosts in-depth interviews with key non-investment principals across public and private markets. Learn more and join our community from www.capitalallocators.com.