110: Backing the Next Generation of Underrepresented Alternative Asset Managers - With Pamela Pavkov & Anilu Vazquez-Ubarri

Money Maze Podcast

Business, Investing, Management, News, Business News

4.8 • 216 Ratings

🗓️ 7 September 2023

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the world of alternative assets, TPG almost needs no introduction. Founded in 1992 by Jim Coulter and David Bonderman, today they manage a towering $139bn in alternative assets (as of 30/06/23). Less well-known is their significant push into backing and investing in the next generation of underrepresented alternative asset managers.

In this conversation, Pamela Pavkov (Partner & Head of TPG NEXT) and Anilu Vazquez-Ubarri (COO), discuss the opportunity to invest with and address what CEO John Winkelried highlights as “the lack of diverse people sitting in the capital allocation seat.”

TPG, along with CalPERS (who are providing $500m of financing), are deploying new capital in an area they believe offers significant potential returns, via their new TPG NEXT unit.

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Transcript

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0:00.0	We don't view any trade-off on account of embracing diversity and augmenting diverse representation at the leadership seat.
0:09.0	In fact, based on our pipeline and the conversations that we've had with the high-quality investor entrepreneurs we've underwritten,
0:16.6	we would argue that these individuals have more humility, more grit than the average investor
0:23.6	on account of their diversity.
0:25.6	Welcome to the Money Maze podcast.
0:28.1	I'm Simon Brewer and Will Campion and I have created this show to explore and unravel
0:33.0	some of the mysteries surrounding the investment business.
0:35.9	You can keep up to date by visiting Moneymayspodcast.com
0:39.1	and please sign up to our newsletter to ensure you won't miss a release.
0:43.6	If you enjoy this show, please subscribe,
0:45.7	and we'd love you to tell a friend or colleague about it.
0:48.4	Thank you for listening.
0:50.0	In the world of alternative assets,
0:52.5	TPG almost needs no introduction.
0:55.7	Founded in 1992 by Jim Coulter and David Bonderman, their first offices opened in San Francisco.
1:02.9	Less well known is their significant push into backing and investing the next generation of underrepresented alternative asset managers.
1:11.8	The investment industry has been grappling with ESG and sustainability questions,
1:17.5	but if the industry turns the mirror on itself,
1:21.1	the data shows it looks significantly less representative of the societies in which they operate.
1:27.1	That should be no surprise for finance
1:29.0	generally has been a less pluralist occupation forever. So TPG has decided it wants to address this
1:35.1	and has put its money behind it with a plan and with culpros providing $500 million of financing
	...

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