E78: Fmr. CIO of CalPERS ($495 Billion) on Private Markets Investing

Dr. Russell Read, current CIO at 10X Capital, and former CIO at CalPERS, CIO of Alaska Permanent Fund and CIO of the Gulf Investment Corporation sits down with David Weisburd to discuss his extensive career as a premier investment professional. They dive into how large scale pensions allocate to private markets, how those plans structure co-investment programs and design a theoretical allocation strategy. (1:06) Introduction of Dr. Russell Read and his role at CalPERS (1:47) Diversifying investments internationally (3:24) Challenges of allocating to private markets (4:25) Venture capital investment strategies (5:35) Structuring co-investment programs (7:33) Alaska Permanent Fund's success story (11:49)Addressing understaffing in pension funds (13:27)Utilizing external resources effectively (15:03)Economics of co-investment opportunities (17:23)Strategies for new Sovereign Wealth and pension funds (19:40)Impact of fund size on alternative investment success (21:52)Discussing liquidity premium and retirement funding reforms (24:08)10X Capital's strategic approach to asset management (25:04)Investment objectives variation among organizations (27:35)Re-evaluating the 60/40 investment model