Manager of Mangers/ Public Investments at Foundation

Hi WSO,

I have interviews coming up for a position on a Public Investments team of a Foundation - they are a Manager of Managers, selecting managers internationally and investing in mostly equities - as I have never worked in MoM/Public Investments before, I am basically starting my preparation from scratch. Would anyone have any valuable insights and suggestions into how to best prepare? Any current market trends / sources to read upon this to be best prepared?

 
Best Response

Read Swenson's book Pioneering portfolio management if you haven't already. I also have a post on here about E&Fs that would probably be a good quick primer.

Foundation investment teams are responsible for two main things: asset allocation and manager selection. Depending on the shop will depend on they handle these. Some places you quantitative models to determine asset allocation, others will use more qualitative factors based on their experiences to set allocation. Same goes for manager selection. Other things to talk about are how they view managers. Do they prefer larger vs smaller aum managers, established vs start up managers, do they do coinvestments, etc.

If you want to talk more details you can shoot me a pm with details on the shop or the name and I can tell you any info I may have on them. I work for a Top 10ish foundation just fyi.

 

That is a big part of what Goldman Sachs Asset Management & GE Asset Management do. Some of the biggest asset managers are really managers of managers. The actual experience translates better to portfolio management / investment consulting than it does to fundamental research. One good thing – you would have a huge contact list within the AM world.

 

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