[REPLAY] Matt Bank - "GEMs" of Risk, Asset Allocation, and Manager Selection (EP.419)

Capital Allocators – Inside the Institutional Investment Industry

Ted Seides – Allocator and Asset Management Expert

Investing, Capitalallocation, Business

4.8 • 806 Ratings

🗓️ 10 November 2025

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

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Summary

Matt Bank is the Deputy Chief Investment Officer at GEM, an OCIO that manages $12 billion for forty clients. GEM was founded in 2007 by investment leaders at The Duke Endowment and Duke University Investment Management Company.

Our conversation covers Matt's path to investing under recent guest David Salem and lessons learned about risk and governance while under his tutelage. We then turn to Matt's move to GEM and its positioning in the OCIO industry. We cover GEM's approach to asset allocation and manager selection, and close with Matt's thoughts on active and passive investing, venture capital, hedge funds, and drivers of success going forward.

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Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com ⁠)

Transcript

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0:00.0	Hello, I'm Ted Sides, and this is Capital Allocators.
0:10.1	This show is an open exploration of the people and process behind capital allocation.
0:16.1	Through conversations with leaders in the money game, we learn how these holders of the keys to the
0:21.7	kingdom allocate their time and their capital. You can join our mailing list and access premium
0:27.8	content at capital allocators.com. All opinions expressed by TED and podcast guests are
0:35.0	solely their own opinions and do not reflect the opinion of capital
0:37.7	allocators or their firms. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.
0:44.5	Clients of capital allocators or podcast guests may maintain positions and securities discussed on this podcast.
0:51.1	My guest on today's show is Matt Bank, the deputy CIO at Gem, an OCIO that manages $12 billion for 40 clients.
1:02.3	Gem was founded in 2007 by investment leaders at the Duke Endowment and Duke University Investment Management Company.
1:09.9	Our conversation covers Matt's path to investing under recent guests David Salem and lessons
1:15.6	learned about risk and governance while under his tutelage.
1:19.8	We then turned to Matt's move to Gem and its positioning in the OCIO industry.
1:25.7	We cover Gem's approach to asset allocation and manager selection, and close with Matt's thoughts
1:31.8	on active and passive investing, venture capital, hedge funds, and drivers of success
1:37.4	going forward.
1:40.0	Before we get going, this is a holiday week in the U.S., and I want to offer everyone celebrating a
1:46.0	very happy Thanksgiving. I'm deeply grateful for your engagement with our content and gatherings
1:52.2	and for my team that helps bring it all to you. Earlier this week, during a strategic
1:58.0	discussion with one of our partners, he paused and said,
2:01.0	your job sounds like so much fun. It's a true gift to be able to answer him. Yes, it is.
2:09.4	I hope you and your family have a wonderful break, enjoy each other's company, share a great meal,
	...

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