2022 Top Episode #4: Rob Citrone – Emerging Markets, Hedge Funds, and Staying in the Game, EP. 261
Capital Allocators – Inside the Institutional Investment Industry
Ted Seides – Allocator and Asset Management Expert
4.7 • 841 Ratings
🗓️ 27 December 2022
⏱️ 46 minutes
🧾️ Download transcript
Summary
Coming in at number 4 is Rob Citrone - Emerging Markets, hedge funds, and staying in the game.
Rob is the Founder of Discovery Capital Management, a $2 billion global hedge fund investing across equities, fixed income, currencies, and rates with a focus on emerging markets. Rob is one of the longest-standing managers in the space and the largest investor in his fund. He trained under Julian Robertson in the heyday of Tiger Management in the mid-90s before launching Discovery in 1999. Since then, the firm grew to a peak of $15 billion in assets and despite the subsequent reduction in AUM, he and his team of 42 are still going strong.
Our conversation dives into Rob's background, lessons he learned from Fidelity, Julian Robertson, and George Soros, and the launch of Discovery. We discuss his investment strategy, research process, perspective on markets around the world, ups and downs in the business, and managing an organization through change.
Rob doesn't often share his insights in the public forum, so it was a real treat to get inside the mind of one of the best in the business.
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Transcript
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| 0:00.0 | Capital Allocators is brought to you by Ten East, an investment platform for sophisticated investors to access private markets. |
| 0:10.5 | Ten East brings benefits of having your own family office without the cost and headaches of doing so. |
| 0:16.8 | It's founded and led by Michael LaFelle, former deputy executive managing member of Davidson Kempner. |
| 0:24.2 | Michael and his investment team offer members the opportunity to co-invest by offering at their |
| 0:29.1 | discretion. Michael and his team source, diligence, and commit material personal capital to each |
| 0:35.3 | investment. The opportunities shared on the Ten East platform |
| 0:38.9 | offer exposure to private credit, real estate, niche venture and private equity, and other |
| 0:44.5 | idiosyncratic investments that typically aren't available through traditional channels. |
| 0:49.2 | The principles have over a decade track record of investing in these types of exposures |
| 0:53.5 | across more than 350 |
| 0:55.7 | transactions. Post-investment, the Tennis team conducts ongoing monitoring and reporting, |
| 1:01.8 | just as you'd expect from an institutional investment organization. I've known Michael for about a |
| 1:07.0 | decade, and after becoming impressed by the quality of 10 East offerings, its research |
| 1:11.6 | process, and high-quality investment team, I became an advisor to the organization, an investor |
| 1:17.1 | in multiple offerings. You can learn more and join me as a member at 10-east.com. That's the number 10, |
| 1:25.4 | east.co. This week, we're counting down the top five episodes of 2022. |
| 1:33.5 | Coming in at number four is Rob Citrone, Emerging Markets, Hedge Funds, and Staying in the Game. |
| 1:41.1 | Rob is a legendary emerging markets investor with roots to Julian Robertson's Tiger |
| 1:45.9 | Management, and he shares a wealth of insight on markets around the world. Come back tomorrow as we |
| 1:52.5 | get started on the top three shows of 2022. Capital Allocators is also brought to you by SRS |
| 2:00.4 | Aquium. |
| 2:01.8 | Want to make sure your M&A processes aren't stuck in the past? |
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