Hello, I'm Ted Sides, and this is Capital Allocators.

This show is an open exploration of the people and process behind capital allocation.

Through conversations with leaders in the money game, we learn how these holders of the keys to the

kingdom allocate their time and their capital. You can keep up to date by visiting

Capital Allocatorspodcast.com. My guest on today's show is Andre Perrault, the managing partner

and chief investment officer of High Vista Strategies,

a $4 billion firm with roots in endowment-style investing that searches for inefficiencies across asset classes.

Andre was the second guest on the show, where we discussed his background as a renowned investment professor at Harvard

Business School and the founding of High Vista.

Our second conversation covers the evolution of High Vista over the last few years.

We discussed changes in the business and the firm's response by focusing on inefficient

markets.

We then dive into examples of opportunities in biotech, private credit, and litigation finance,

and close with the perspective on active management and private markets.

Please enjoy my conversation with Andre Perrault.

Andre, thanks so much for joining me again.

That's good to be here.

Well, somehow, it's been 16 years since you started high vista.

And we'll replay our first recording.

So we'll have the high vista story.

What's happened over those 16 years that's kind of changed the way you think about your investing in the business?

You know, that's such a good question. A few things. One is the original idea hasn't changed where we're very much looking opportunistically for returns and having the freedom to look around the world in any asset class, in any type of security for opportunities, is very powerful, provided you have the skill set to pursue those opportunities, that you have the governance to make

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