Adam Fisher – Blending Global Macro and Real Estate at Commonwealth Asset Management (First Meeting, EP.21)
Capital Allocators – Inside the Institutional Investment Industry
Ted Seides – Allocator and Asset Management Expert
4.7 • 841 Ratings
🗓️ 13 July 2020
⏱️ 62 minutes
🧾️ Download transcript
Summary
Adam Fisher is the CIO of Commonwealth Asset Management, which he founded as Commonwealth Opportunity Capital in 2008 and re-launched in 2019 after a two-year interlude Soros Fund Management. Commonwealth manages both a global macro hedge fund and private real estate assets with a thematic bent. In getting there, Adam traded his bar mitzvah money, attended law school, and started real estate investment companies in the U.S. and Asia.
Our conversation covers Adam's self-taught trading, early stumbles in private equity, and a one-off encounter with Richard Rainwater that led to his creating his first business. From there, we touch on thematic real estate investing, hedging his investments leading into the financial crisis, and pivoting back to trading alongside real estate investing thereafter. We discuss the challenges of traditional global macro businesses, the benefits of investing in one-off big ideas, the synergies across real estate and macro investing, interest rates, and Adam's outlook on the markets and industry.
Learn More
Read the Transcript
Subscribe to the Capital Allocators Blog or Monthly Mailing List
Don't Subscribe, but Let Us Know Who You Are
Write a review on iTunes
Follow Ted on twitter at @tseides
Review past episodes of the Podcast
Transcript
Click on a timestamp to play from that location
| 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.O. |
| 1:33.4 | Capital Allocators is also brought to you by SRS Aquium. |
| 1:37.2 | Want to make sure your M&A processes aren't stuck in the past? |
| 1:43.6 | How about partnering with a company that's been defining the future of dealmaking for nearly two decades instead? |
| 1:46.0 | When it comes to M&A innovation, |
| 1:52.7 | SRS Aquium has reshaped the way deals get done more than anyone else, streamlining processes for maximum efficiency and minimum headaches. Professional shareholder representation, online |
| 1:59.2 | M&A payments, digital stockholder solicitation, |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Ted Seides – Allocator and Asset Management Expert, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Ted Seides – Allocator and Asset Management Expert and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.