[REPLAY] Mario Giannini – View from the Top of Private Equity at Hamilton Lane (Capital Allocators, EP.262)
Capital Allocators – Inside the Institutional Investment Industry
Ted Seides – Allocator and Asset Management Expert
4.8 • 806 Ratings
🗓️ 17 April 2023
⏱️ 67 minutes
🧾️ Download transcript
Summary
Mario Giannini is the CEO of Hamilton Lane, where he oversees nearly $1 trillion of assets under management and advisement in private capital, making it perhaps the largest investor in private equity in the world. Mario joined Hamilton Lane thirty years ago and has spent the last 21 as its CEO. His breadth of knowledge and experience, alongside at times unconventional views, offers an unparalleled bird’s eye view into this powerful area of investing.
Our conversation covers Mario’s background and a brief history of the private equity industry over the last thirty years. We discuss three characteristics of private equity firms that struggle: decision-making, concentration, and greed, and views on private equity firms across turnover, GP/LP relationships, LP Advisory Boards, and the pricing environment. We then turn to Mario’s perspective on constructing private equity portfolios, data analytics, the middle market, continuation funds, LP appetite, and opportunities across sub-categories and geographies. We close with aspects of Hamilton Lane’s evolution across co-investing, customization, going public, ESG, democratization, and the future of the industry.
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 10east.com. That's the number 10, |
| 1:25.0 | east.co. |
| 1:38.0 | Hello, I'm Ted Sides, and this is Capital Allocators. |
| 1:43.9 | This show is an open exploration of the people and process behind capital allocation. Through conversations with |
| 1:45.9 | leaders in the money game, we learn how these holders of the keys to the kingdom allocate |
| 1:51.3 | their time and their capital. You can join our mailing list and access premium content |
| 1:56.8 | at capital allocators.com. My guest on today's show is Mario Giannini, the CEO of Hamilton Lane, where he oversees |
| 2:07.1 | nearly a trillion dollars of assets under management and advisement in private capital, |
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