YouSaid · the spoken record

Steve Nelson

lines on the record: 42
first: 2020-04-09
most recent: 2020-04-09
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Of the most interesting, most valuable, most important life experiences are the ones you don't plan for. I could go back. I'd loosen my grip a little bit, so to speak. I'd leave a little bit more room in the master plan for the unexpected and be even more willing to embrace some of those unexpected twists and turns. As I think back on the things that have really made a difference in my life, been the most amazing experiences, you know, not a one has been planned for. And I think that's telling.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I think there it's a little bit mom and apple pie, but it's treat others the way you'd like to be treated. I mean, that's foundational stuff, but I feel like my parents did a terrific job of drilling that in early on. I was also really fortunate to have the chance to live overseas when I was younger. And that lesson combined with remembering that it's a big wide world out there with a lot to explore and a lot to understand and not taking anything for granted. I really appreciate that they instilled that in early on.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“I try as much as possible to reflect on choices made and outcomes delivered, and that holds to personally and professionally. I've worked with a leadership coach for years now, and that's been incredibly helpful, helpful both in terms of identifying opportunities to make progress personally and professionally, but also holding my feet to the fire a little bit. So having a partner to nudge every once in a while, ensure a level of accountability. It's good to have that assist. That's been helpful.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Biggest investment pet peeve is related to the conversation we had earlier today, which is private equity can't continue to claim to represent a superior governance model for investing where that greater degree of control and influence leads to outsized returns. And in the same breath, say that we're unable to affect change as it relates to diversity, equity, and inclusion, or some of these ESG impact and investing initiatives. If you think about what's critical to the long-range success of the industry, I think that's at the core of it. And so the teeth mashing that goes on there is definitely a pet peeve. And I think we all have to be a little bit more vulnerable in our approach there. Test some ideas, share the results, and adapt and do better.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“I don't know that it's a single pet peeve, but I would tell you it's all of the small missed opportunities for common courtesy that you see in any given day or week. So reflecting on the current environment, if nothing else, it gives us all plenty of chances to lend a hand and make that extra effort. So being a little bit more human during this time is probably a great thing.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“About anything that is an outdoor activity, so hiking, camping, biking, I think I'd be lying Ted if I said that 100 acres in Montana wasn't part of the long-range daydream. So anything that gets me outdoors and wandering around is close to the top of the list.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Crisis. Obviously, there was a spotlight train on private equity, and that will continue. There's a lot of noise, and I don't mean that in the passing sense, but a return to private equity being in focus should absolutely be expected. And so there are lots of opportunities for us to do well from a reputational standpoint by doing the right things during this crisis. If you think about how workers are going to be treated, our participation in certain industries, all of those can be positives for the industry, but there are also landmines out there. But trying to make sure that we draw the connection short-term actions that also reflect well on the industry as a whole and not losing sight of that in the end.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, there have been. It starts with communication, so communicate, communicate community internally with one another, with your stakeholders, so making sure that investment teams are well connected with their boards, their investment committees. That will help. I think that's an obvious lesson learned from the last downturn. It really is an opportunity, Ted, for all the things that ILPA has been talking about for years now to take a step forward. I think in terms of governance, in terms of transparency, in terms of reporting, that whole notion of alignment of interest, if it's not going to happen now, it's never going to happen. And it matters more than ever. So we've been trying to stress not just in the moment the critical nature of these things and the ways in which GPs and LPs can make some progress on that front, again, pointing back to the principles, guidance, but also trying to be clear that this matters to us from a long term industry perspective. And so coming into this.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, there's no doubt that there is a range. Some GPs have been reasonably conservative in terms of subline usage, have done that to help ease some of the administrative and operational burdens. And in those cases, I don't think there's cause for elevated concern. But there are a whole host of GPs and funds that have been much more aggressive with sublines in terms of size, in terms of duration, and in terms of usage. And so there are a material number of cases where those sublines really should be front and center as part of the risk management conversation that needs to be happening right now.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“In terms of what folks are looking for from their GPs, I think we touched on the lion's share there. I'll just underline the point around sublines. They've become such a significant piece of the industry and represent material risk to us, how those are being treated, whether there are changes there as a result of the crisis. I think that's something that we'll continue to see even more conversations around.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“where we were was meaning real momentum making real strides i think in in that collection of areas which we have a strong interest in thinking about the long term health and well-being of the industry and so there were encouraging signs on that front i'd say in the moment the past several weeks those topics understandably haven't been front of mind for folks and i think we can all understand why that that is but to have them slip from view on a more significant basis would be disappointing and would be a setback for the industry so we saw more folks engaging on these topics it'd be a real shame to lose that thread here”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Our perspective there is probably a little bit biased given the nature of the membership base. I think by default traditional buyouts are probably attracting the most attention. But I think the areas where there's real interest and opportunities that could emerge given how the environment could shape up. So distressed credit opportunity funds secondaries down the line. I think that there's flooding interest going to be growing interest in those areas as we go forward, but relative impact and weight within member portfolios, traditional buyouts is where the focus is dominated at the moment.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“And what we heard from RLP members last week is that monthly is probably a reasonable expectation. I mean, as long as there is the opportunity to have conversations in the interim. We talked about the notion of bi-weekly that felt to most involve to be too much, probably not getting great information and probably putting a burden on both sides and trying to collect and process that information. So no right answer, and I think it depends somewhat, obviously, on the nature of the strategy GP, underlying portfolio, you know, what's happening there and how often should we be catching up, but monthly seem to be the rhythm that most we're gravitating towards.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Verbal basis. Much of that is happening on one on one calls and exchanges, which is fine, but probably not as much as we'll need as things progress. So taking that initial positive momentum and translating it into coordinated, effective communications and reporting going forward, we're going to have to continue to take steps in that direction, but I think the early results are rather encouraging.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, in general, encouraging in the sense that most reported GPs being more responsive, making a real effort to provide information and going further in terms of the level of transparency being provided at that portfolio company level. So we're glad to hear that, of course, and would love to see that continue. The other thing that I think is a reason for some optimism is a real two-way conversation between LTs and GPs in terms of what the right cadence is for that discussion, what the right level detail might be for the current state of affairs. And so anytime we see that genuine exchange in terms of what's going to work best on both sides, I think that just reinforces the best of what the private equity relationship can be when the partnership is worth. So I think reason for optimism now, what we've also seen and heard is that much of that is taking place on a variety of”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“One of the key things you mentioned in your efforts, one of those three key principles of transparency, I'm curious what the distribution is that you heard from the LPs about the quality of transparency coming from the GPs.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“that will be best guesses for the time being and we'll have to wait until September year end before we have real clarity on that.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Doing a couple things. First, I'm reaching out to GPs to have that conversation early and often, recognizing there's a fair amount of estimation and involved for the near term, but trying to get a sense of what those shadow valuations look like, what's happening at the portfolio company level that might give us an indication as to what that next set of quarterly evaluations could look like. So that's one sort of the bottom-up exercise and direct conversation with the general partners. And then in addition to that, trying to take the experience from the global financial crisis and applying some of those rough experiences to the current situation and saying, what did we see then in terms of lag and severity of the markdowns? What would that look like if a similar situation played out, recognizing that it's a different environment? But what would that sound like? What would that look like for the current portfolio? So some modeling going on at the moment, but also a recognition that a lot of”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“And when we went through the financial crisis, it was a different state of affairs and where people were in their desired allocations. But you did have this markdown of the public assets and a much more delayed markdown if there even was of the private assets which caused those allocations to go up and some concern over those commitment lines. How are people thinking about valuation of all of their private assets in the context of their whole portfolios?”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“It's very early days, but that's obviously something that peas are focused on. We just gathered about 500 folks per town hall conversation late last week and asked that question. And the early read is that calls haven't changed dramatically in the short term, but folks are expecting to see some of that. LPs are asking their GPs, what's the current situation in terms of the reserves for follow-on investments? How are they thinking through those considerations? What's being done at the fund level? versus what direction is being given to the portfolio companies themselves. Where is that reserve management really taking place? So at the moment, again, given how early we are in this most likely, there's some of that reestimation of capital call, pace, and volume, but it's foggy. I think that's the easiest way to put it.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Organizations came into this current period either at or very close to their desired allocations within private equity. And I think that makes the situation a little bit different than what we saw with the global financial crisis. And so really trying to have as clear-eyed a conversation as they can about what can they tolerate in terms of allocations over the near term, what is the liquidity picture look like, what spending needs might be out there for the organization, and how do they need to adapt their policies, actions accordingly.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think there it starthens not just similar from the global financial crisis, hopefully lessons learned and lessons being applied now, but viewing the private equity program not in isolation, but as part of the entire investment portfolio. And so making sure that across teams, across asset classes, there's a robust conversation going on in terms of risk management, possible actions to be taken, things that could crop up that would be relevant for multiple areas within the investment program. So that coordination across teams is really critical. Specific to the PE program, as you'd expect, most are trying to get a handle on what that next of quarterly marks might look like and what that means for target allocations, allowable bands, and thinking about at the macro level, where does the private equity program sit and what might the response might need to look like? And so a lot of or”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Like you and me, I think at the top of the list for them is how to work and work effectively in a remote environment. And so I think that adjustment that most of us are going through in terms of trying out new technology, new sort of paths for communications. I mean, that's front and center for everyone at the moment. And I think it's fair to say some are well positioned coming into this and others not, but priority placed on communicating effectively in a routine manner, trying to stay connected in creative ways. I'm part of virtual happy hours. We've done a couple of our own and hoping that the need for those goes away very quickly. But in the interim, recognizing that it's a grand social experiment that we sort of all embarked on here and trying our best to stay connected. So it's easy to say it's a people business. It really is a people business. And I think if anything, the current environment, it's just reinforced that notion. So I think it starts there.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, it's difficult one. I think that's the first thing to say. And that imbalance does exist. I mean, I think for a number of years now, the playing field has been tilted for a whole host of reasons, and it's been difficult for LPs in terms of terms, negotiations, frankly, in some of the core aspects of the LPGP relationship. So I think the approach that many LPs have taken is to be targeted in terms of what they care about and really go to their GPs with as strong a message as possible on fiduciary duty or reporting or LPAC rights and try and make sure that what they're asking for is what they see as being most impactful in the current environment and not losing sight of the broader range of issues that are worth spending time on over time. But being realistic, frankly, about what's achievable.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“How do you find that, again, before the last month, because the world certainly changed, in an environment where the relative power seems to be in the hands of the GPs, there's so much demand, particularly for established performing funds. How do your members embrace the notion of best practices if they're not seeing that on the GP side with the need and desire for them to commit capital?”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“But I think some of the things that the industry is most familiar with are the tools and templates that we produce, whether it's routine GP reporting or capital notices, our due diligence questionnaire, those types of things which can be leveraged in their current form by just about any institution, but can also be modified to some extent depending on the unique needs. We hope those are more than a starting point for some of those common tasks and in some cases can be employed in their current form. One other sort of avenue I'll mention is our education platform, the OLPA Institute. And so coursework, materials, classroom time, group discussions around areas that are really critical to the health of an investment program, all of what we do, again, in some form, finds its way into our educational work as well.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Last year, we published the third version of our principles document, which is really the foundation for just about everything that we do in some form. And so that really speaks to three things on an industry-wide basis, governance, transparency, and alignment of interest. And the hope is that that principles document those guidelines, so to speak, for the industry are then something that we can collectively put into action. And it's not meant to be a straightjacket for an organization or a relationship, but rather a starting point for a more collaborative, strong, long-term partnership for LPs and GPs. So that principle is document is really important to us and in many ways sits at the heart of all our efforts. That's one example. The standards and best practices work that we do is core to the mission of ILPA. And there, that takes a variety of...”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm curious how that typically gets packaged in that you started off by saying effectively every pool of capital, every LP has some uniqueness in their own way. And so if you're trying to collectively speak for this humongous group of LPs that command so much capital behind them, what's the output that you try to deliver that can serve such a wide constituency?”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“The LP experience, the LP perspective, I think a lot of the topics that our members flag for us are not necessarily unique, but their angle on those issues is unique. Their take on how to address the potential solutions there is unique. And so hopefully what we're able to help offer is just a collection of ideas, a different sort of conversation that is really from the LP point of view.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“It starts with doing as best we can to listen to the member challenges. And so last year we instituted a program called LP Insights, which in its most basic form is an outbound calling program. So we're trying to talk with 200 of our members every year in a fairly structured way the year what issues they're facing, how we might be able to support them and then boil that down to a handful of topics that are truly strategic. We're given our unique perspective and really fortunate perch within the industry we might be able to offer something unique.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Sure, things you might expect, but trying to navigate what had been a market with a ton of pace and a ton of volume. And so keeping up with fundraising cycles that were fairly compressed, keeping up with all of the re-up activities for existing relationships, trying to carve out a little bit of time to stay focused on new opportunities emerging and interesting ideas, and then also trying to express some other things within the investment program like ESG principles, like diversity and inclusion and trying to figure out how best to incorporate those into the fabric of investment programs.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“So before we dive into the current environment, meaning real recent environment and how what LPs are thinking about and how they're navigating it, I'd love to hear your sense of, if you take us back to a century ago, which we'll call February, what were the key things on the minds of LPs and private equity?”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“We have a rough estimate, as you can imagine. It's hard to get out two decimal places on this sort of thing. But on an aggregate basis, our membership base probably represents somewhere north of $2 trillion in private equity, AUM. And again, depending on how you size up the market as a whole, we probably are somewhere in the neighborhood of half of all private equity activity.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Today is an organization that is dedicated exclusively to limited partners in private markets around the globe and has been for many years, but has grown pretty dramatically, partly in reflection of the expansion of the asset class, but I think more than anything else for the good work of the organization over these years. So we support over 550 limited partner organizations. That represents over 5,500 investment professionals, and that's front office professionals, legal and compliance operations. It really is the whole of the organization. And they're located in 50 countries around the globe. So it's diversified from just about every angle you'd want to analyze it from size, location, type, nature of program, et cetera.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Me, it starts with being closely connected with the team, so making sure that we have a joint view of where we're going and why, how each of us is contributing to that vision day in and day out and making sure that everyone understands that I'm alongside them for the work. So there's no separation in terms of what we're trying to achieve and in terms of what I'm here to help contribute. I think that's the foundational principle”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“The first lesson learned at Cambridge has come over with Opa is no two organizations are alike, no two investment programs. And so important not to go into any Relationship, any conversation With any hardwired assumptions About what's right for the organization or the investment program. And I think that alone Serve me well, you know, during the time at Cambridge, but also in these relatively early days.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Was equal parts exciting and scary. So, you know, I really grew up with Cambridge. A little tongue in cheek, but it's true. I joined when I was 21 years old. And so everything, every memory that I had in some way, shape or form involved Cambridge. Expected to be a challenge Parts of it were, but on the whole, it's been an amazing transition. Lots of overlap in terms of Content as you'd expect lots of overlap in terms of Clients Cambridge served on the membership base. So, the things that I thought might Translate well really Translated well. The benefit of a really terrific working relationship with Cambridge at ILPA. Colleagues from Cambridge aren't ever too far away.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Came back again thinking that it might be time to think about heading back to school. So I hadn't completely given up on that just yet, but probably had picked up a little bit along the way during those eight years in Asia. But as was the case with Cambridge over my nearly 20 years, another incredible opportunity sort of presented itself. And so we created. Co directors of our consulting practice, and I was asked to. To that role along with the colleagues from Boston. That for a couple of years And then ended up becoming the chief operating officer. Cambridge, and that was the position I had held at the time of making the move to Ilba.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Initially, pretty significantly different. I mean, our expectation early on was that we really needed to establish ourselves from a research perspective in the Asia Pacific and be in a credible position to advise existing clients. Now, none of that was new. Cambridge, but I think that as the lead in to relationships, we just didn't have the same Recognition in Asia. And so needed to spend some time focused on building out that foundation. Before getting into what is the business of Cambridge, helping to. On client portfolio. So it started in a slightly different way, but as you can imagine, the approach Was largely the same”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Year assignment turned into eight fantastic years, so nearly eight years in total, all in Singapore, but the business grew quite a bit over that time and was really a regional presence by the time”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“Sure, yeah. Happy to provide a little color on that. So I was lucky enough to find Cambridge Associates just after finishing school with Boston College and really didn't know what I wanted to do or where I wanted to be, but it seemed like a terrific organization focused on the right things. And so I joined their DC office at the time, spent a couple of years there, was thinking about going back to get my MBA. Had always been the plan, and was afforded this amazing opportunity to help do a little bit of the business planning work for an Asia Pacific presence had absolutely no experience, really had no business of being involved in that work, but was paired with one of the managing directors at the time, spent a couple of weeks in Asia and thought, wow, this would be an amazing opportunity. Had no expectations but series of happy circumstances allowed me to move over to Singapore in early 2001 to help set up the office there.”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source
“My guest on today's show is Steve Nelson, the CEO of the Institutional Limited Partners Association, or ILPA. ILPA is a nonprofit that engages, empowers, and connects limited partners to maximize their performance. It has over 500 member institutions who represent $2 trillion in private assets under management or approximately half of the global institutional market. ILPA is the only global organization dedicated exclusively to advancing the interests of LPs and their beneficiaries through best-in-class education, research, advocacy, and events. Our conversation covers Steve's 20 years at Cambridge Associates leading to his time at OPA, the mission of OPA, and the ways it achieves that mission. We then turn to the most important needs of private asset allocators before the”
2020-04-09 · Capital Allocators · Steve Nelson – Assisting Private Equity Allocators Through Turbulent Times at ILPA (Capital Allocators, EP.129) · IDENTIFIED FROM THE TRANSCRIPT · source