Sustainable Investing 9: Reuben Munger – Private Capital Perspective (Capital Allocators, EP.147)
Capital Allocators – Inside the Institutional Investment Industry
Ted Seides – Allocator and Asset Management Expert
4.7 • 841 Ratings
🗓️ 6 July 2020
⏱️ 55 minutes
🧾️ Download transcript
Summary
Reuben Munger is the Managing Partner of Vision Ridge Capital, a private investment firm with over $1 billion in assets that focuses on sustainable real assets. Reuben started Vision Ridge in 2008 after a decade of value investing experience at The Baupost Group.
Our conversation discusses Reuben's path and his approach to sustainable real asset investing in the private markets. We talk about his time at Baupost, transition from broad public market investing to focused venture impact investing personally, and the creation of Vision Ridge alongside Jeremy Grantham and Capricorn Investment Group. We then discuss Vision Ridge's flexible investment strategy, creative structuring, portfolio construction, opportunities in power and mobility, competitive dynamics, team, and outlook.
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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 10east.com. That's the number 10, |
| 1:25.4 | east.co. |
| 1:30.9 | My That's the number 10, east. C.O. My special thanks go out to Wellington Management for sponsoring this mini-series, Sustainable |
| 1:36.8 | Investing, The Next Frontier. |
| 1:39.5 | Wellington Management serves as an asset manager and trusted advisor to clients |
| 1:44.0 | representing more than |
| 1:45.1 | $1 trillion in assets worldwide. Wellington has explored long-term sustainability issues |
| 1:51.7 | since the 1970s and continues this practice today through internal research, engagement, and |
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