The Exchange: Recent Episodes
Ryan Loehr
As advisors to successful families, we often draw upon some of the best minds in the country. We believe, that by exchanging ideas, we can deliver better advice and better outcomes for the families we work for. Now, we are inviting you on this journey. In this podcast, we interview some of the countries best investment managers, business advisors, bankers and founders to share their insights. Our hope is that with better information, comes better decisions, helping you to achieve more financially.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Mitchell Finnen sits down with Perry Cross and Tom Ray, Co-Founders of Accessible Homes Australia, to explore one of the most overlooked corners of Australian social infrastructure, specialist disability accommodation.
Perry sustained a spinal cord injury at 19 and spent decades in a system that wasn't built for him. Today he lives independently in a purpose-designed, voice-activated apartment on the Gold Coast. It's not just a better home. It's a different life.
Together, Perry and Tom break down how their clustered independent living model can save the NDIS up to $75,000 per person per year compared to conventional care arrangements, a counterintuitive finding the system has been slow to embrace. They also walk through their newest development in Hervey Bay: a self-sufficient village with onsite hydrotherapy, adapted gymnasium, and 24-hour care, built for people who want independence, not an institution.
If you've ever thought about impact investing, social infrastructure, or simply what it means to build something that matters, this episode is for you.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
Most business owners aren't ready to sell.
Not because they don't want to. Because the structure, the documents, and the conversations that make a deal work, they never happened.
Managing Partner Tim Whybourne sat down with Christine Fleer and Rebecca Zwier of Arnold Bloch Leibler, the firm behind 40% of Australia's AFR Rich List, to talk about what exit-ready actually looks like.
The short version: the families who get the best outcomes start preparing years before anyone makes an offer.
They discuss in this episode of The Exchange:
→ The structural traps that quietly cost sellers at the deal table
→ What the ATO is coming for, and what to fix before they do
→ Why you should be doing due diligence on your buyer, not just the other way around
→ How to pass on wealth to the next generation without taking away their reason to work for it.
If you own a business, or advise someone who does, this one is not to be missed.
Listen here for the entire interview:
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Tim Whybourne sits down with Jonathan Belz, Global CEO and Co-Founder of BFA Global Investors, an investment manager built to give Asia-Pacific family offices and sophisticated investors direct access to top-tier US venture managers and transformative private companies. Jonathan brings more than twenty years of experience across Goldman Sachs, Credit Suisse, and the Victor Smorgon Group, and has been behind some of the most notable private market allocations in Australia, including early positions in Anthropic, OpenAI, and SpaceX.
Together, they explore why the most significant value creation of our lifetime is happening in private markets, how AI is compounding on top of technology cycles that are still far from mature, and why the opportunity beneath the hyper-scalers is larger than most investors appreciate. They also unpack the structure and investment thesis behind BFA's Vintage Fund, covering fund selection, co-investment access, return targets, and how to think about liquidity over a five-to-ten-year horizon.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Charles Troian sits down with Michael Lukin, Partner at Roc Partners, to explore why the Australian mid-market remains one of the most compelling and undercapitalized opportunities in private equity today.
With 30 years in the industry, beginning at Macquarie Bank before a management buyout formed Roc Partners in 2014, Michael brings a rare depth of perspective on how the asset class has evolved. He breaks down why the $50 million to $1 billion segment of the Australian market is structurally underserved by capital, how private equity has shifted from financial engineering to genuine operational value creation, and which sectors are attracting the most conviction right now.
The conversation also covers Roc's Summit Fund, their evergreen vehicle built to give private wealth investors simpler, more flexible access to Australian mid-market private equity, and why buyout is better suited to that structure than venture capital.
If you've been thinking about how private equity fits into a long-term portfolio, this episode is a good place to start.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
30 June is closer than most people are ready for.
If this has been a strong financial year — or you're carrying a tax liability you haven't yet addressed — there are still options on the table. But not for long.
Tim Whybourne, CFA sits down with estate planning lawyer Rachael Rofe for a candid hour on intergenerational wealth transfer, tax strategy, and structured giving. Rachael spent a decade leading Australia's largest donor-advised giving fund — helping more than 700 families direct over $500 million in philanthropic capital — before returning to private practice. She knows this space as well as anyone.
Australia is entering the largest intergenerational wealth transfer in its history. Most families aren't ready — not legally, and not relationally. This conversation covers both.
What we get into:
- Why silence is the single biggest mistake wealthy families make — and how unspoken, unequal decisions fracture families after the will is read
- Why a basic will no longer cuts it: super, family trusts, and jointly held assets all pass outside it
- Binding death benefit nominations and the death benefits tax of up to 17% most people don't see coming
- Division 296 and the quirk that can leave some beneficiaries taxed on super they never inherit
- The proposed budget changes to testamentary trust taxation — and why discretionary testamentary trusts still belong in even modest estate plans
- Structured giving before 30 June: turning a tax liability into impact you direct
- Prenups, binding financial agreements, and protecting wealth passed during your lifetime
- What a genuinely successful wealth transition looks like — confident, capable, and loved
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange by EW&L, Tim Whybourne sits down with Jeff Schulz, Head of Economic and Market Strategy at ClearBridge Investments, to discuss the forces shaping the next decade of investing.
Jeff is the architect of ClearBridge’s widely followed Anatomy of a Recession framework, a dashboard tracking key indicators across the U.S. economy to identify shifts in recession risk and market conditions.
Together, they explore whether the Federal Reserve’s cutting cycle is over, if elevated equity valuations are a warning sign or misunderstood, and whether the recent rotation in market leadership has staying power. They also discuss geopolitical tensions, energy security, and whether the world has enough energy infrastructure to support the AI revolution.
The conversation also dives into the long-term implications of artificial intelligence, from its potential impact on unemployment and productivity to whether universal basic income could eventually become reality.
This is a wide-ranging discussion on markets, macro-economics, AI, geopolitics and what the investment landscape could look like over the next 10 years.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
EW&L's Tim Whybourne sat down with Mark Arnold and Jason Orthman, CIO and Deputy CIO of Hyperion Asset Management, to talk through what may be the most consequential investment backdrop of our careers.
Hyperion manages over $13 billion with a single conviction: find companies that compound earnings at double-digit rates and hold them long enough for the market to agree. In practice, that requires a pain tolerance most investors don't have.
In this episode, Mark and Jason make the case that quality growth stocks, the ones most people think are expensive, are deeply undervalued on a 10-year view. They walk through how they repositioned ahead of the SaaS unwind, why they see AI as a structural shift rather than a theme, and what it means to own the full stack rather than bet on individual applications.
Their forecast: 25% EPS growth across the portfolio. The current drawdown, in their view, is the entry point.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Charles Troian sits down with Sueann Yeo, Managing Director and Head of Asia-Pacific Private Wealth Client Relations and Capital Raising at EQT, one of the world’s leading private markets investment firms.
Sueann shares insights into EQT’s investment philosophy and how the firm’s Nordic heritage of active ownership shapes its approach to building better businesses through operational improvement and long-term value creation. She also discusses the growing role of private wealth in private markets and how platforms such as EQT Nexus are expanding access to institutional-quality private equity strategies for individual investors.
The conversation explores the structural opportunities EQT sees across Europe and Asia, why complexity and fragmentation can create attractive investment opportunities, and how investors should think about incorporating private markets into long-term portfolio construction.
For investors seeking global diversification and exposure to private markets, this episode offers a thoughtful perspective on where opportunities may lie in the next phase of the asset class’s evolution.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
EW&L's Tim Whybourne sat down with Libby Cantrill, Managing Director and Head of Public Policy at PIMCO, one of the most sought-after voices at the intersection of Washington and Wall Street.
With $2 trillion under management and 20 years translating political complexity into investment insight, Libby doesn't deal in noise. She deals in signal.
In this conversation, Tim and Libby covered:
→ Why markets consistently misread Washington's power structure
→ The Iran conflict and what elevated oil prices mean for the US consumer
→ America's $36 trillion debt problem and the 2033 inflection point nobody is talking about
→ The 2026 midterms and the single variable that matters most to markets
→ Why China's technological ambition is the underpriced geopolitical risk of our time
One of the most substantive macro conversations we've had on the show. Essential listening for anyone serious about understanding how policy shapes portfolios.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
Can 'skin in the game' make a real difference for investors? Does Mark Zuckerburg regret not selling Facebook for $1Billion to Yahoo when he was only 22?
In today’s episode of The Exchange, Managing Partner Craig Emanuel sits down with Lawrence Lam, Founder of Lumenary Investment Management and Author of the book The Founder Effect: Three Pillars of Success in Founder-Led Companies. The book explores a simple but powerful question: Why do some companies led by their founders massively outperform markets, while others flame out spectacularly? Lawrence argues that founder-led businesses often possess unique advantages but only when certain traits are present.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Charles Troian sits down with Adam
Reisler, Partner in the Infrastructure and Real Assets team at StepStone Group,
to explore how infrastructure has evolved from a niche institutional allocation
into one of the fastest-growing asset classes in private markets.
Adam reflects on how the opportunity set has expanded well beyond traditional
assets such as toll roads and utilities into digital infrastructure, energy transition
and the power systems required to support the global build-out of AI and data
centres. He also shares how the asset class has matured over the past two
decades and why infrastructure today offers a unique combination of defensive
characteristics and structural growth.
The conversation explores the rise of infrastructure secondaries, how investors
gain access to high-quality assets that rarely come to market, and why deep
data, manager relationships and disciplined underwriting are critical in
navigating an increasingly complex private markets landscape.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Ryan Loehr sits down with Mark Bryan, Managing Partner at Pemba Capital Partners, to explore what happens when deep capital markets experience meets hands-on private equity ownership.
After two decades in listed markets - including leading research on IPOs for MYOB, ELMO, Whispir and ReadyTech - Mark shares why he moved into private equity and how that shift changed his view on value creation, leadership and long-term strategy.
The conversation unpacks what separates true strategic partners from financial buyers, when founders should consider bringing in growth capital, and how private equity can help professionalise businesses through management depth, operational discipline and structured buy-and-build strategies. Mark also shares insights from Pemba and discusses how AI, sector focus and disciplined origination are shaping the next phase of mid-market investing in Australia.
For founders and families navigating growth, institutional capital or long-term transition planning, this episode offers a grounded look at how to think about partnership, scale and strategic alignment.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Mitchell Finnen sits down with Dan Blair, Managing Director of LTV Partners, to unpack what business owners consistently get wrong about M&A, and why the exit process should actually begin years before you sell.
Drawing on decades of experience across corporate strategy, investment banking, and advisory, Dan explains why owners must define what “good” looks like well in advance, how to build valuation through the earnings “flywheel,” and why most businesses leave money on the table by focusing on the transaction rather than the preparation.
They discuss the differences between business brokers and strategic corporate finance processes, common pitfalls in the lower mid-market, the coming wave of “boomer business” transitions, and how disciplined preparation can materially change valuation outcomes. For founders, operators, and investors navigating growth, succession, or sale, this is a practical conversation on how to exit under strength - not desperation.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Tim Whybourne is joined by Aaron Zamykal, Founder and CEO of Actualisation Group, one of Australia’s largest privately owned artificial intelligence firms.
Together, they unpack what AI really is, what it isn’t, and cut through the noise to explain how business leaders can think practically about adopting AI within their organisations. The conversation spans common misconceptions, frequent implementation mistakes, and where AI is already delivering tangible value across operations, decision-making, and productivity.
Aaron also explores the infrastructure underpinning the AI revolution, including the growing demand for computing power, data, and secure deployment, as well as the most relevant use cases for businesses today.
Having begun his career as a financial planner before founding Actualisation more than a decade ago, Aaron shares how the firm has grown into a global operation with four offices worldwide and a team of more than 120 specialists. Actualisation now designs, trains, and deploys private AI factories and agentic AI teams for organisations looking to harness AI’s benefits securely and at scale.
For founders and business leaders considering how (or whether) to implement AI, this episode offers a grounded, practical perspective on where to start and what matters most.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Tim Whybourne sits down with Grayson McLeod, Chief Operating Officer at Monochrome, to discuss everything from why we need to think more deeply about the demand for Bitcoin (BTC), as the Australian economy does not necessarily present a need for us to invest in BTC, why Bitcoin is likely to move higher over the coming years, and the innovations that Monochrome is making to make it easier and more functional to invest into BTC.
In his role, Grayson oversees the day-to-day operations of the firm’s exchange-traded funds. His focus spans the end-to-end mechanics of the products, including trading, custody, market maker oversight and managing the in-kind application and redemption process for direct Bitcoin transfers.
With eight years of experience working in the Bitcoin space, Grayson brings hands-on insight into the operational challenges of running a regulated crypto investment product. He plays a key role in ensuring Monochrome’s products function seamlessly behind the scenes, bridging the gap between on-chain assets and traditional markets.
Monochrome Disclaimer:
The matters discussed in this episode are general in nature and do not take into account any person’s individual objectives. Past performance is not indicative of future performance. No representation, warranty or undertaking is given or made in relation to the accuracy or completeness of the information presented.
Please review the PDS and TMD (available at https://monochrome.au) and consult a financial adviser before deciding whether to acquire an interest in IBTC or IETH. Noting that investing in bitcoin or ethereum is volatile and extremely high risk.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Mitch Finnen sits down with Nathan Denchman, Co-Founder and CTO of ProcurePro, to unpack the realities of life as a founder.
Nathan shares his journey from growing up in regional Queensland to building and pivoting multiple start-ups, including the difficult decision to move on from an early legal-tech venture that didn’t survive COVID. The conversation explores the emotional highs and lows of founding a business, the freedom and uncertainty of having no clear path laid out, and what it takes to push through when the answers aren’t obvious.
They discuss how ProcurePro emerged from that period of disruption, why identifying the right problem matters more than the original idea, and how disciplined execution, strong co-founder alignment, and resilient systems have underpinned the company’s growth. Nathan also reflects on the role of AI in construction technology, scaling teams responsibly, and how becoming a father has reshaped his perspective on leadership and time.
For founders, operators, and anyone considering the leap into building something of their own, this episode offers an honest look at the freedom, pressure, and opportunity that come with the founder journey, and why adaptability and execution ultimately define success.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Ryan Loehr sits down with Julian Biggins, Joint Chief Executive Officer and Co-Founder of MA Financial Group, to explore how one of Australia’s leading alternative asset managers has built scale across market cycles.
Julian reflects on founding MA Financial in the wake of the global financial crisis, the evolution of the firm’s real estate and credit platforms, and how MA has expanded across investment banking, asset management, and lending. He shares insights into why core real assets - including retail, office, and operating real estate - continue to play a critical role in diversified portfolios, and how MA identifies opportunities where others see complexity.
The conversation also covers the firm’s recent investments across operating assets, including hospitality and specialised real estate, the rationale behind deploying capital counter-cyclically, and what institutional and private investors should consider as markets recalibrate.
For investors interested in real assets, capital cycles, and building resilient investment platforms, this episode offers a thoughtful perspective from one of Australia’s most experienced alternative investment leaders.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Tim Whybourne sits down with Jamie Coutts, Chief Crypto Analyst at Real Vision, for a wide-ranging conversation on the forces reshaping global markets and the digital asset landscape.
Jamie shares his journey from traditional finance to Bloomberg Intelligence and Real Vision, explaining how macroeconomics, liquidity cycles, and technological innovation now intersect to drive market behaviour. He breaks down the “great debasement,” the role of debt and liquidity in asset performance, and why digital assets increasingly sit at the crossroads of macro, technology, and monetary policy.
The discussion explores everything from institutional adoption and real-world asset tokenisation to the rise of AI agents, blockchain infrastructure, and the frameworks Jamie uses - from on-chain fundamentals to Metcalfe’s Law - to analyse the space.
Whether you’re curious about digital assets, interested in how macro trends shape modern portfolios, or looking to understand the next wave of financial innovation, this episode offers a grounded, research-driven perspective from one of the industry’s leading analysts.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Ryan Loehr sits down with Rob Percy, Chief Investment Officer of Cromwell Property Group, to unpack how one of Australia’s most established real estate investment managers is reshaping its strategy for the next cycle.
With more than 25 years’ experience across global capital markets, Rob offers a candid look at Cromwell’s transition to a more focused, capital-light investment platform following the sale of its European business. He explains how the group is thinking about capital allocation, partnerships - including Brookfield’s recent cornerstone investment - and the structural shifts redefining office, data centres, life sciences, and other emerging real asset sectors.
Rob also discusses how Cromwell is maintaining sector-leading office occupancy, what institutional tenants value most today, the growing importance of ESG and decarbonisation, and where he sees opportunity - and risk - as the next property cycle takes shape.
For investors, advisers, and anyone watching the future of commercial real estate, this episode offers a clear, grounded view from one of the industry’s most experienced CIOs.
Continue the real assets and property investing conversation and hear from leading industry experts by downloading the recording of our recent webinar, 'Let’s Get Real: Property & Real Assets'.
Download here.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Ryan Loehr sits down with Bruce Baker, Senior Managing Director – Queensland at CBRE, to unpack what’s really driving Australia’s commercial property market and where discerning investors are finding opportunity in the current cycle.
With more than three decades of experience spanning capital markets, funds management, and real estate services, Bruce shares his perspective on how ownership structures, valuation trends, and capital flows have evolved and why Brisbane and South-East Queensland are emerging as markets to watch.
From shifting investor behaviour and supply-demand dynamics to the impact of infrastructure, migration, and rising construction costs, Bruce offers a clear, data-driven view of where we are in the cycle and what’s next for office, retail, and industrial assets.
Whether you’re a private investor, family office, or adviser, this episode delivers valuable context for navigating property today and positioning for the opportunities ahead.
Continue the conversation on real assets and property investing and hear from leading industry experts by downloading the recording of our recent webinar, 'Let’s Get Real: Property & Real Assets'.
Download here.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Ryan Loehr sits down with Jason Huljich, Joint CEO of Centuria Capital Group, to explore how one of Australia’s leading real-asset managers is positioning for the next property cycle.
With more than $20 billion in assets under management and nearly three decades of experience across office, industrial, healthcare, agriculture, and alternative real assets, Jason offers a data-driven view of what’s really shifting beneath the surface of Australia’s property markets.
From capital flows and valuation resets to tenant behaviour, liquidity design, and the rise of long-dated, service-led real estate, Jason breaks down where disciplined investors should be leaning in — and where they should show restraint. He also shares the frameworks Centuria uses to assess new verticals, maintain investment discipline at scale, and create value through active management, covenant quality, and ESG integration.
Whether you’re a family office, private investor, or an adviser navigating this moment in the cycle, this conversation delivers practical insight into where opportunities are emerging and how leading managers are preparing for the decade ahead.
Continue the conversation on real assets and property investing and hear from leading industry experts by downloading the recording of our recent webinar, 'Let’s Get Real: Property & Real Assets'.
Download here.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, EW&L Associate Adviser, Charles Troian, sits down with Matthew Browne, Founder and Managing Partner of Black Nova Venture Capital, to explore the evolution of Australia’s start-up ecosystem and what it really takes to build - and back - world-class technology companies.
From launching his first business at 13 to founding and exiting two successful enterprise software companies (including Y Combinator–backed Whispli), Matthew shares lessons learned from both sides of the venture table. He unpacks what separates resilient founders from the rest, why “boring” B2B software often outperforms hype-driven tech, and how Australia’s venture market has matured into one of the most efficient ecosystems in the world.
The conversation dives deep into Black Nova’s investment philosophy - a by founders, for founders model - and the firm’s focus on mission-critical, enterprise-grade software with strong fundamentals and global potential. Matthew also reflects on the future of AI, capital flows, and the importance of reinvesting in Australia’s innovation economy.
Whether you’re an investor, founder, or adviser, this episode offers a rare look inside the mindset of one of Australia’s most disciplined venture capitalists, and what it takes to identify the next generation of enduring businesses.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Ryan Loehr sits down with Steve Bennett, Chief Executive Officer of Charter Hall Direct Property, to discuss how one of Australia’s largest and most respected real asset managers is positioning through a changing market cycle.
With more than A$10 billion in assets under management and a track record spanning three decades, Charter Hall’s Direct Property team is recognised for its disciplined portfolio construction, hands-on management, and commitment to long-term income and investor alignment.
Steve shares insights on how evolving tenant needs, sustainability priorities, and shifting capital flows are reshaping Australia’s office, industrial, retail, and social-infrastructure sectors — and what strategies are helping investors achieve attractive, risk-adjusted returns.
From governance and ESG integration to emerging opportunities in mixed-use and social-impact assets, this conversation offers a rare look inside the decision-making frameworks of one of Australia’s leading property platforms.
Continue the conversation on real assets and property investing and hear from leading industry experts by downloading the recording of our recent webinar, 'Let’s Get Real: Property & Real Assets'.
Download here.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
What do the secondary markets really teach us about value? How should investors think about illiquid assets today? Is it as simple as finding the most undervalued portfolio and bidding?
In this episode of The Exchange, EW&L Managing Partner Craig Emanuel sits down with Eric Foran, Partner at Coller Capital, to answer these questions and to explore how the secondary markets operate, what was learned through the GFC, and why the space continues to matter for sophisticated investors.
Eric is the Partner responsible for Coller Capital's origination and execution based in the firm’s New York office. Prior to joining Coller Capital in 2010, Eric was the Investment Management Division at Lehman Brothers based in San Francisco. Previously he worked in the Global Advisor Research and Institutional Consulting Groups at Morgan Stanley in New York.
Coller Capital is a global private equity firm specialising in secondary market transactions. Founded in 1990, their focus has been on acquiring interests in private equity funds, real assets, and other alternative investments. With a reputation as a leader in the secondary market, Coller Capital works with institutional investors, such as pension funds, endowments, and family offices, to provide liquidity solutions and portfolio management strategies.
Eric has a BS in Finance from the University of Tennessee and an MBA from London Business School. He is a CFA Charterholder.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Tim Whybourne sits down with Andrew Mitchell, Co-Founder and Senior Portfolio Manager at Ophir Asset Management, one of Australia’s top-performing equities managers.
From 10x in 10 years to 20x in 12, Ophir’s track record has become the benchmark for active investing in Australian equities. Andrew shares how the firm’s disciplined process, founder-led culture, and relentless focus on quality businesses have delivered exceptional long-term results.
Drawing on his early experience at the Federal Treasury and more than two decades in markets, Andrew offers practical insights into building wealth through discipline, humility, and conviction even in volatile conditions.
Whether you’re a high-net-worth investor, entrepreneur, or professional seeking smarter ways to grow and protect your capital, this conversation reveals what it takes to identify tomorrow’s leaders and stay the course through every market cycle.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
Join host Tim Whybourne in conversation with Michael Prendiville, Founder and CEO of JellyC, as they explore the evolution of digital assets and blockchain in Australia. With more than 25 years’ experience across global financial markets, Michael shares his journey from hedge funds and traditional finance into the world of crypto, and how JellyC is bridging the gap between digital and institutional investing.
From the basics of Bitcoin and Ethereum to the firm’s strategic partnership with Franklin Templeton, this episode unpacks the structural shifts driving adoption, the latest regulatory developments, and why sophisticated investors are increasingly viewing digital assets as a core component of diversified portfolios.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
Join us for an exclusive conversation with Dan Tapiero, a renowned macro investor and one of the first institutional managers to embrace the world of crypto. As the founder of 50T—a top private equity fund focused on blockchain infrastructure—Dan shares his journey from partnering with industry legends like Julian Robertson and Steve Cohen, to making bold, early bets in digital assets. Discover why Dan believes the digital asset ecosystem is on track to hit $50 trillion, how 50T is investing in the “picks and shovels” powering Web3, and what this means for investors looking to tap into the future of global finance. Whether you’re a seasoned allocator or crypto-curious, this episode delivers rare insights from one of the sector’s true visionaries.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of The Exchange, Ryan Loehr sits down with Michael Rothner, Executive Director of AsheMorgan, to explore how one of Australia’s most respected private real estate investment firms has navigated market cycles, delivered sustained returns, and redefined value creation in property.
With more than four decades of experience and over $10 billion in transactions, AsheMorgan has built its reputation on identifying opportunity where others see complexity - from pioneering developments like Brisbane’s award-winning Midtown Centre to strategic investments across office, retail, industrial, and living sectors.
Michael shares how the firm’s hands-on, capital-disciplined approach delivers attractive risk-adjusted returns, why ESG integration is now central to long-term resilience, and how demographic and structural shifts are creating new opportunities for investors.
Whether you’re an experienced investor or simply curious about where Australia’s property market is heading, this conversation offers a rare inside look at what it takes to create enduring value - in assets, partnerships, and legacy.
Continue the conversation on real assets and property investing and hear from leading industry experts by downloading the recording of our recent webinar, 'Let’s Get Real: Property & Real Assets'.
Download here.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
Thinking about buying your next home or investment property? Don’t miss our latest podcast episode featuring Jordan Navybox, Managing Director of Cohen Handler QLD, one of Australia’s top buyers agents. Jordan shares insider strategies on finding the right property, building investment wealth, and avoiding common pitfalls in today’s competitive market. Whether you’re a first-time buyer or a seasoned investor, you’ll learn what sets great buyers agents apart, how the industry is evolving, and the key steps to maximise your success when working with a professional advocate. Ready to take the guesswork out of your next property purchase? Tune in now for practical tips, expert insights, and a behind-the-scenes look at how Australia’s best buyers operate.
Continue the conversation on real assets and property investing and hear from leading industry experts by downloading the recording of our recent webinar, 'Let’s Get Real: Property & Real Assets'.
Download here.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
Sharing a Coke with Rhonda and Ketut! In today’s episode, Managing Partner Craig Emanuel sits down with Andrew Baxter, current Chair of several iconic Australian industries, businesses and not-for-profits. Andrew was previously the CEO of two of Australia’s largest marketing agencies, Publicis and Ogilvy, creating the famous ‘share a Coke’ campaign. How do you create a successful global marketing campaign to last generations?
Andrew is one of Australia’s most trusted business, marketing and communications advisors. Before establishing his consulting firm, Andrew Baxter worked with many of Australia's largest companies, brands and government bodies, as the CEO of two of the country's biggest communications agencies, now a Senior Advisor at KPMG. Andrew is currently the Chair of Australian Pork, Deputy Chair at Foresters Financial, Deputy Chair at Sydney Symphony Orchestra, a Non-Executive Director at OzHarvest, Agricultural Innovation Australia, Hypetap and the
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
Folklore is known for its focused, high-conviction approach to backing visionary founders from the very beginning. In this episode, Alister shares his journey from startup founder to venture investor, why he believes smaller VC funds are better positioned to deliver alpha, and how Folklore is shaping the next generation of Australian tech success stories. They explore why he has decided to cap his fund raise at $100m and the unique advantages of investing in venture capital in Australia in a very tax-friendly environment.
They explore what differentiates Folklore from larger global funds, why Alister is committed to building in Australia, and how the local venture landscape is changing as more institutional capital enters the market. He also opens up about past fund performance, his current fundraise, and what he looks for in truly exceptional founders.
Folklore target returns of circa 25% p.a + in a traditional venture capital vehicle (10-year lock-up and capital call structure). A candid and insightful conversation for founders, LPs, and anyone with an interest in the future of Australian innovation and venture capital.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
Toby Lewis is a Partner and Founding Director of Marquette Properties, one of Australia’s most distinctive and entrepreneurial property investment firms. With over two decades of experience in commercial real estate, Toby has built a reputation for making high-conviction, often contrarian investments—particularly in the office sector—through cycles of uncertainty and change.
Known for his deep relationships in capital markets and an operator’s mindset, Toby has led the acquisition and repositioning of some of Australia’s most prominent commercial assets. His leadership at Marquette reflects a belief in long-term value, active asset management, and the power of alignment between capital and capability.
Founded in 2009 and headquartered in Brisbane, Marquette Properties is a private, boutique property investment firm specialising in high-quality Australian commercial real estate, most notably in office and retail sectors. With a strong track record of acquiring, repositioning, and managing complex real estate assets, Marquette operates with a hands-on philosophy that blends institutional discipline with entrepreneurial agility.
The firm manages over $2 billion in assets on behalf of private investors, family offices, and institutional partners. Marquette is best known for its bold moves, such as acquiring landmark towers at times of market pessimism, and for delivering both financial and social returns through active tenant engagement, ESG-led repositioning, and heritage-sensitive renewal.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In today’s episode, the partners catch up to talk all things markets from the current volatility through to interest rates, tariffs, and bitcoin. They chat about what they are seeing in markets and the different discussions they are each currently having with clients, including the approach they take to deploying capital in a market like this.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
Today, Associate Adviser Charles Troian is joined by Jake Elmhirst, a Managing Director at Coller Capital, one of the most established and influential investors in the global private equity secondaries market.
Jake brings deep expertise in private equity secondaries, fund structuring, and deal execution. At Coller, he leads transactions across LP-led and GP-led deals, spanning both equity and credit strategies. His work includes navigating complex continuation vehicles, underwriting mature assets, and providing liquidity solutions for institutional investors globally. Jake previously held roles in investment banking and holds a strong background in portfolio construction, asset-level due diligence, and macro risk assessment.
In this conversation, we explore the fundamental mechanics of secondary transactions, how Coller approaches pricing and valuation in an illiquid market, and the nuances between private equity and private credit secondaries. Jake also shares insights on the evolution of deal structures, the growing role of distressed credit, and why J-curve mitigation continues to be a key driver for secondary investors.
With capital flowing into the space but distributions slowing, Jake offers his perspective on managing liquidity, navigating risk, and how sophisticated investors can still find compelling return profiles in a crowded landscape
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
Today Managing Partner Tim Whybourne is joined by Martin Robinson, the Managing Partner and Co-Founder of HEAL Partners, a global growth-stage private equity firm focused on the health, education, and lifestyle sectors.
Martin brings a wealth of experience in private equity, corporate finance, and investment strategy. Before founding HEAL, Martin ran the private equity strategy for one of Asia’s largest family offices, where he led the transformation of Vietnam’s leading hospital group. His career also includes five years at Macquarie Bank, overseeing principal investments across Asia, and leading the bank’s Sponsor Coverage division in the region. He started his career as an M&A and ECM lawyer with Allens (Australia) and Linklaters (U.K. & Hong Kong) and holds a Bachelor of Law (Honours) and a Bachelor of Commerce from the University of Queensland.
In this conversation, we’ll dive into HEAL Partners’ investment strategy, where Martin sees the biggest opportunities in private markets, and how high-net-worth investors can benefit from valuation arbitrage in today’s economic landscape.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode, managing partner Tim Whybourne sits down with Richard Galvin, Co-Founder & CEO of Digital Asset Capital Management (DACM), to explore the evolution of digital assets and institutional crypto investing. Richard shares insights on market trends, risk management, and the role of crypto in a diversified portfolio. We also dive into Bitcoin’s outlook, regulatory developments, and whether macroeconomic indicators signal a bullish future.
Whether you're a seasoned investor or crypto-curious, this episode is packed with expert analysis you won’t want to miss!
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
Today managing Partner Tim Whybourne spoke with John George from Standard Edge accounting covering topics from selling your family business through to establishing and running a family office and the challenges that come with that. We discussed the impact that technology is having on the governance framework for families and how families have to be more dynamic than ever to remain relevant in todays fast moving world.
John has extensive experience in accounting, corporate strategy, governance, capital raising, and investor relations. He is currently the Director of private consulting firms Standard Edge and SGD Partners. He previously held senior roles at ASIC and KPMG, and served as CEO of an international insurance recovery firm with offices in North America, New Zealand, and Australia. He has also been a Non-Executive Director at Shine Lawyers and Gladstone Airport Corporation Limited. Additionally, he holds advisory roles with several leading Australian Family Offices. John became the youngest CFO of an ASX 200 company at 32 and has worked as a financial regulator with ASIC. He offers valuable insights into the marketplace and corporate governance. John is also a trustee for Bravehearts Endowment Fund and chairman of the sub-committee for the Royal Brisbane Women's Foundation Endowment Fund.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode, Craig, Tim & Ryan discuss what they are seeing in markets at the moment. They touch on where they are seeing pockets of opportunity and the impact of Trumpenomics on the global economy.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of the Exchange, our Partner and Private Wealth Advisor Ryan Loehr speaks with Marc Herman, serial entrepreneur and founder of Everlab. Marc has built and exited several large technology businesses, and co-founded Foodspring, one of Europe’s largest nutrition and supplement e-commerce businesses. He ultimately exited this business to the Mars Family. Motivated by an early family tragedy, Marc and his co-founders are now pioneering preventative healthcare and the medicine 3.0 movement in Australia.
This is a great episode to understand the unique journey of building, scaling and exiting significant businesses; solving inefficiencies, focusing on improving customer experience; and surrounding yourself with the right advisors.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In today’s episode, we have the pleasure of speaking with Markus Thielen. We discuss everything from the history of Bitcoin, its meteoric rise to 100k and the future for Bitcoin and Ethereum, have you missed the boat or is it just the beginning?
Markus Thielen is the founder of 10x Research, a leading digital asset research firm serving traders and institutions. Previously, Markus served as Head of Research at Matrixport, a $ billion digital investment firm, Chief Investment Officer at IDEG and founded Jomon Investment Management. His extensive experience includes portfolio management roles at Millennium Capital Partners and JP Morgan’s Investment Group. Markus began his career at Morgan Stanley, where he led the Quantitative & Derivatives Strategies Group in Asia. Markus holds a degree from ESCP Business School in Paris and a Certificate in Sustainable Finance from the University of Cambridge. Renowned for his expertise in digital assets and investment strategy, he is the author of Crypto Titans: How Trillions Were Made and Billions Lost in the Cryptocurrency Markets, further cements his status as a thought leader in the field.
Bitcoin stands at the crossroads of two distinct narratives: a compelling investment case driving institutional adoption and a speculative fervor fueling retail mania. Under a pro-growth Trump administration, both dynamics could flourish, creating sharply divergent opportunities for long-term investors and short-term traders alike. Unlike past Bitcoin cycles that culminated in definitive peaks, 2025 may not follow the traditional script. Instead, we could witness the broadening of crypto as a mainstream asset class, with Bitcoin potentially surpassing gold in prominence.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode, our Brisbane-based Partner, Ryan Loehr, speaks with Phil Cummins, Managing Director of Stepstone Group. They discuss the challenges that most private investors have in venture and growth equity, particularly around diversification of fund underlying, vintage, and manager. Access to top-quartile managers is generally reserved to the largest institutions, are often significantly oversubscribed. Phil provides an overview of the Stepstone Group Platform; key business and industry advisors that help it evaluate opportunities; the importance of longstanding relationships and exploring a genuine information advantage to drive performance outcomes. Also, the benefits of new structures, such as open-ended or ‘evergreen’ vehicles vs. more traditional capital-called closed-end structures.
Before joining Stepstone, Phil was a venture partner at Greenspring Associates, a venture capital and growth equity investment firm that merged with StepStone in 2021. Prior to that, Phil spent 13 years with QIC Global Private Equity, where he played a pivotal role in leading their private equity program. His career also includes significant roles at BT Alex. Brown, Deutsche Bank, and Thomas Weisel Partners in San Francisco. Phil holds a Bachelor of Commerce degree and is a Chartered Financial Analyst, as well as a member of the Institute of Chartered Accountants Australia and New Zealand. Stepstone manages over $176B on behalf of a diverse range of clientele that includes institutional investors, family offices and high-net-worth individuals.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode of the Exchange, Craig Emanuel, Tim Whybourne and Ryan Loehr reflect on the 2024 year that’s been and discuss possibilities for 2025.
Trump 2.0; ballooning global deficits; interest rate policy; protectionist policy, geopolitical tension and global equity valuations that look expensive.
There’s a lot to take in. So how should investors be positioning? Tune in to this partners episode to learn more.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode, Managing Partner Tim Whybourne catches up with serial entrepreneur, venture capitalist and TV personality Steve Baxter. They discuss everything from Steves's background, his early wins in business through to his latest venture investing in anything defence-related where many other funds are not able to.
Steve grew up in north QLD before joining the Military at the age of 15 taking on a military apprenticeship in engineering, electronics, and telecoms. His career in the Army spanned 9 years before he left to launch his first start-up called SE Net from his bedroom. This business was eventually acquired by OZemail under the stewardship of ex-Prime Minister Malcolm Turnbull. In 2001 Baxter teamed up with his schoolmate and serial tech entrepreneur, Bevan Slattery to launch his second start-up in Pipe Networks before selling that to TPG in 2010. Steve founded River City Labs, Brisbane’s well-known co-working hub in 2012 and has been championing Australian startups and entrepreneurs ever since. He has appeared as a ‘Shark’ on Channel 10’s Shark Tank Australia since 2014.
In this episode, we discuss Steves's latest venture in his new fund called Beaten Zone Ventures which aims to invest in early-stage defence businesses that are developing weapons and systems to assist with holding, aiming and controlling weapons in addition to training soldiers to protect them from opposition lethality.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In this episode, Partner and Private Wealth Advisor Ryan Loehr speaks with Armen Panossian, the co-CEO of Oaktree Capital. Oaktree is one of the most renowned investment businesses in the world, most famous for its capability in distressed debt and heavily influenced by Howard Marks who co-founded the business nearly 30 years ago. Beyond distressed debt, Oaktree oversees more than $193B for investors, which include most of the largest US pension funds; many sovereign wealth funds; endowments, large institutions and family offices. The business invests across credit, private equity, real estate and listed equities.
Armen joined the firm in 2007, immediately before it navigated the Global Financial Crisis in 2008 very successfully; and prior to this, worked in distressed debt with Pequot Capital Management, at the time one of the largest hedge funds globally. He holds a B.A. degree in economics with honors and distinction from Stanford University; an M.S. degree in health services research from Stanford Medical School; a J.D. degree from Harvard Law School; and an M.B.A. from Harvard Business School. Mr. Panossian serves on the Advisory Board of the Stanford Institute for Economic Policy Research. He is a member of the State Bar of California.
We explore a broad range of topics, including the conditions and settings that can make distressed debt investing attractive; example transactions that it has been successful with; and the timing of Oaktree's $15B+ raise for its largest distressed debt fund. We explore the dramatic shift in monetary policy and credit conditions over recent years and its implications; and observe segments of corporate America that are under increasing pressure, especially small-business. We then turn our conversation to private credit, including increased competition in this segment, key risks, relative appeal vs. other asset classes: risks and opportunities that eventuate from illiquidity, structuring, speed and scale; and the anticipated 'funding gap' that companies may face over 2026 and 2027. I hope you enjoy this episode.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In today’s episode the partners catch up and discuss everything from the US election, Tim's recent trip to JPM conference in Bangkok through to current opportunities in markets and their predictions on how markets will finish up for the year.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
Today Managing Partner, Tim Whybourne, speaks with with two senior members of the Pantheon global private equity team in CharlotteMorris and Victor Mayer about their new evergreen private equity fund coming to the Australian market.
Pantheon is a global private asset manager managing over 65bn in discretionary assets across a range of private equity investments. They have 11 offices and 125 investment professionals around the world. They have been at the forefront of private markets investing for more than four decades, driving long-term value creation for their clients through strategies covering the full investment lifecycle.
The Pantheon Global Private Equity Fund (PGPE) aims to provide professional investors around the world with unique exposure to a diversified private equity portfolio sourced by Pantheon’s global investment team. PGPE focuses on secondaries and co-investments, offering diversification by manager, stage, geography, vintage year and industry, all through a single allocation.
- High-conviction private equity portfolio accessed via a single allocation
- Concentrated in secondaries and co-investments, with a buyout and growth equity focus
- Evergreen allocation tool with immediate exposure and quarterly liquidity
Victor Mayer is a managing director and portfolio manager at Pantheon in London and ictor is a member of Pantheon’s European Investment team where he focuses on the origination, analysis and execution of primary investments and co-investments. Prior to joining Pantheon, Victor was a Director at HSBC Alternatives Ltd, where he worked on primary fund investments, secondaries and co-investments across Private Equity, Private Debt and Impact. Before that, he spent 3 years at Access Capital Partners in Paris, having started his career in transaction services at Deloitte in Luxembourg. Victor holds a master’s degree in Corporate Finance from ESSCA in France.
Charlotte Morris is a Partner in Pantheon’s Global Secondaries Team and is responsible for co-managing the activities of Pantheon International Plc (PIP). She is involved in all aspects of Pantheon’s secondaries business including the analysis, evaluation and completion of secondary investment opportunities. Charlotte joined Pantheon in 2006 from Cdb Web Tech, an investment vehicle listed on the Milan Stock Exchange. She serves as a member of Pantheon’s Global Secondaries Investment Committee and Sustainability Committee, and is engaged across Pantheon’s transactional investment activities. Charlotte received a master’s degree in mathematics from Cambridge.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In today’s episode, Managing Partner Craig Emanuel sits down with Michael Lukin, Founder and Group Managing Partner of Roc Partners.
Roc Partners have established themselves over the past 25 years as one of Australia’s most successful and reputed investors in mid-sized private companies, having made more than 400 investments and now managing more than $8 billion in investor capital. Roc have delivered superior returns of more than 29% IRR pa within Roc’s secondaries funds.
As Group MD, Mike is responsible for leading client relationships and investment activities in several global markets. Mike was one of the founding partners of Roc Partners following the management buy-out of Macquarie Group’s private markets business unit by its senior executives in June 2014. Mike currently serves as director of Roc Partners investee companies StoneAxe, Australia’s Oyster Coast, Hirepool, National Dental Care, and Infrastructure Advisory Group. Mike holds a Bachelor of Science Honours, Applied Mathematics, is a Chartered Financial Analyst (CFA) and Associate of the Institute of Actuaries of Australia.
During this podcast, Craig holds an in-depth discussion with Mike on how the Roc business originated, what are secondaries markets, how investors are able to access secondaries, lessons learned in founding one of the country’s most respected investment firms, through to the current private market industry dynamics and global outlook.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Let us know your thoughts, questions, and who you want to hear from next!
In today’s episode, Managing Partner Craig Emanuel sits down with Adrian MacKenzie, Founder and Partner of Five V Capital.
Adrian is the founder and a partner of Five V Capital. A highly experienced investor with over 25 years of private equity experience, Adrian has successfully led and managed Five V’s investments, including Ascender, Madman Film & Entertainment, Canva, Plenti, Education Perfect, the Probe Group, Zenith Investment Partners, Openway Food Co, Penten and Automic. Before founding Five V Capital, Adrian was a managing partner and board member at leading global private equity firm CVC Capital Partners, where he helped establish the Asia Pacific and Australian offices. Five V have invested across 45 Australian and NZ private businesses, taking an average ownership stake of 30%, and having allocated almost $2B of investor funds on behalf of 400 clients. Since inception, Five V’s funds have delivered realised returns of 63% IRR, with an average holding period of 2.9 years per investment.
During this podcast, Craig holds in an in-depth discussion with Adrian on the secrets to searching for, selecting and partnering with outstanding Founder-led businesses. Craig and Adrian discuss topics such as an example of a great portfolio company, through to the current PE industry dynamics, through to what shaped Adrian’s successful career as a Founder of one of Australia’s most prominent PE funds.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode, Managing Partner, Tim Whybourne catches up with Vu Tran, one of the co-founders of one of Brisbane’s most successful starts ups where they discuss everything from what it was like growing up in Logan as a migrant and what it takes to build a company like Go1, through to leadership and what drives him to get out of bed in the morning and keep solving problems. We finished by touching on his latest venture in defence in particular building rockets to bring Australian manufacturing and defence capabilities back on shore.
Vu Tran was the Chief Growth Officer and co-founder of Go1, a global e-learning company that has grown from humble beginnings in a garage in Brisbane to a worldwide organization with offices in the USA, South Africa, Vietnam, the UK, and Malaysia. Vu is also a practising doctor working in General practice and is passionate about developing innovative ways to promote healthcare with the broader community.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, the partners catch up and discuss what happened with the most recent market tantrum, when we expect interest rate cuts, what impact that will have on the market, and the benefit of investing in private markets. They also discuss the implications of the upcoming US elections and where markets are heading from here.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Today we are trying a slightly different format in inviting you all into a discussion we had with Mark Carnegie, a titan of the Australian investment banking landscape and his interest in crypto assets.
Mark has more than 30 years of experience as an entrepreneur, investor and corporate advisor in New York, London and Sydney. From 1990 to 2000 Mark was the Australian and Asian representative of Hellman & Friedman following his training on Wall Street with James D. Wolfensohn and, in London, at Hudson Conway with Lloyd Williams. In 2000 Mark co-founded leading Australian boutique corporate advisory and private equity firm Carnegie, Wylie & Co Pty Limited with John Wylie. Carnegie Wylie was acquired by leading Wall Street bank, Lazard Inc in 2007, and following the sale, Mark was appointed the CEO of Lazard Australia Private Equity.
Throughout his career, Mark has been involved in a range of diverse Australian and Asian investments and has participated in groups that have acquired major stakes in the Courage Pub Estate, John Fairfax Holdings, Hoyts Cinemas, Formula One Holdings, SCTV, Macquarie Radio Network, Lonely Planet Publications and London Sumatra Plantations. As a corporate advisor, Mark has advised Qantas and Coles Myer on general strategic matters, Westfield on its A$22 billion merger and Qantas on its JetStarAsia start-up in Singapore.
Mark holds a BA from Oxford University and a BSc (Hons) from Melbourne University. He is a former Treasurer of the Oxford Union. Please join us as we listen in on a recent call we had with Mark regarding the case for having a meaningful allocation to crypto assets in your portfolio.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this discussion, one of our Managing Partners, Tim Whybourne, catches up with Steve Byrom of Potentum Partners. Steve is a Founding Partner of Potentum Partners. Prior to Potentum Partners, Steve spent 11 years as Head of Private Equity and Investment Committee member at Future Fund, Australia’s sovereign wealth fund. He led the team that created Future Fund’s private equity strategy, building a $27.5bn investment program.
During the discussion, they cover everything from the lessons learned investing in private equity for the Australian Future fund and the connections formed during this time that are pivotal to the success of their current private equity business. We cover the basics of what private equity, secondaries and primary transactions look like and highlight some of the key deals they have done in recent times, why it is important to invest in the top half of Private equity performers and the importance of continuing to allocate to private equity throughout a cycle. Potentum partners are currently raising capital for their new semi-liquid secondaries fund.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Today, Managing Partner, Tim Whybourne catches up with the CEO and co-founder of ReadyTech (ASX:RDY), overseeing its growth from early product development in 1999 to leading the ASX-listed SaaS company with reach across education, workforce, government and justice sectors – from Australia/NZ to a global customer base. With over 25 years of experience in business leadership and technology, Marc heads up ReadyTech’s global team of over 500 people who are committed to supporting more than 4,600 customers with mission-critical technology.
Marc has bootstrapped the company through to private equity ownership through to an ASX listed growing it from 2 staff to over 600 currently. In their discussion they talk about the challenges of scaling a tech business through the different phases, what it takes to be a good leader and what they are doing to embrace the ever-evolving technology landscape.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, Managing Partner, Tim Whybourne catches up with Gus McLachlan AO a distinguished leader who retired from the Australian Army in 2018 after an illustrious 37-year career. Fergus held key roles such as head of Modernisation and Strategic Planning, deputy chief of Staff for Plans at the HQ ISAF Joint Command in Afghanistan, and chief of staff for the Office of the Chief of the Defence Force, culminating his career as Commander Forces Command, leading 35,000 ground forces personnel.
They discuss everything from Fergus's extensive military career and leadership lessons to his insights on building and maintaining high-performing teams. Fergus shares his experience in strategic planning, cultural and organisational change, and the integration of innovative technologies like cyber, robotics, and data analytics. They also discuss the current geopolitical outlook and the risks to Australia’s sovereignty. Tune in to hear his thoughts on transitioning to the commercial and university sectors and his advice for emerging leaders aspiring to make a significant impact.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, our Partner and Private Wealth Manager, Ryan Loehr speaks with Peter Beske Nielsen, the Global Head of Private Wealth for EQT. Peter joined Ryan in our Sydney office, visiting from Copenhagen.
EQT is one of the world’s most reputable private market investors, managing over $216b EUR or $350b AUD investing from start up to maturity or public company (take privates), and covering two segments: real assets and private capital. Critical to EQT is a philosophy of long-term ownership and ‘future proofing’ companies - an attribute inspired by one of the most successful Swedish families and original EQT investor, the Wallenberg Family. The EQT model is to shape and execute a value-creation plan and keep an active ownership approach to transform and make companies more relevant, efficient, and future-proof – optimized for market dynamics and customer demands. For the first time, EQT has a new solution in market to democratise access to the breadth of its private market offering to private wealth investors - instead of being restricted to institutions and family offices.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today's episode, Craig, Tim & Ryan discuss the current state of financial markets, where they see markets heading and why we should not be afraid of investing at all-time highs. They discussed their views on where interest rates are heading and what impact this might have for investors moving forward as well as some recent learnings in discussions with fund managers.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
The two happiest days of owning a boat are the day you buy a boat and the day you sell it….other than when you are the lender to a Super Yacht manufacturer. If banks aren’t lending nowadays, then who is? Time for some discussion on the highly demanded World of private credit.
Epsilon Direct Lending specialise in lending to some of Australia and New Zealand’s most respected mid-market companies, from IT through to coffee roasters. Epsilon provide institutional and wholesale investors with stable and attractive returns, with the Founders having sourced and arranged several billions of dollars of direct loans. Joe Millward is a Founding Partner of Epsilon Direct Lending and a member of the Investment Committee. Joe has 25 years of experience in a career covering direct lending funds management, growth, and event-driven corporate financing, business strategy, compliance, operations, and finance across Europe and Australia. Joe was most recently an Executive Manager in CBA's corporate bank. He previously held the roles of Chief Operating Officer of the Corporate & Investment Banking Division at Bank of America Merrill Lynch Australia and Head of Loan Funds at the Royal Bank of Scotland pc's asset management business. Joe is a fully qualified accountant and fellow member of the ACCA.
During this podcast, Craig holds an in-depth discussion with Joe on the intricacies of lending to mid-market companies, how a deal is assessed and approved, through to lessons learned during his successful career in establishing one of Australia’s most reputable direct corporate lending companies.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, the partners discuss Craig and Ryans's recent study tour to NYC where they had the privilege of learning from some of the world’s most successful investors such as Bobby Jain (Former CIO of Millenium), Ken Moelis (CEO of Moelis) and Sonny Kalsi (CEO of BGO) to name a few. The team also discusses how markets have performed over the past 6 months, their predictions for how the next 12 months will play out, interest rates, and the rise of private market democratisation.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, Managing Partner, Tim Whybourne catches up with one of Australia's leading property experts, the Chief Economist of Ray White, Nerida Conisbee. Nerida provides market commentary to a wide range of Australian media outlets across digital, print, television, and radio. She also contributes to Ray White’s publications including Ray White Now. She is the Chair of the Construction Forecasting Council and is a member of the Australian Taxation Office’s Foreign Investment Stakeholder Group. She also provides updates on property market conditions to major Government bodies. Nerida has more than 20 years of property research experience throughout Asia Pacific and has held senior positions within commercial agencies and major consulting firms during this time. Her experience covers residential and commercial property from both an investor and occupier’s perspective.
During the discussion, they cover everything from the state of the Australian property market, what people need to watch out for, and where you might find pockets of growth over the coming years.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, Managing Partner Tim Whybourne catches up with Cameron Blanks, a managing director of Pacific Equity Partners, one of the leading and most active private equity managers in the country with over A$10 billion in Assets Under management. Cameron joined Pacific Equity Partners in 2002. Prior to joining PEP, Cameron spent three years with Bain & Company in Australia and North America. Previously, Cameron worked for seven years in the mining and construction industry in Australia, Asia and North America.
They discuss everything from how Cameron started his career, the different types of private equity in Australia and around the globe and the opportunity that has been presented for Australians in private equity.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, Managing Partner Tim Whybourne catches up with two Wall Street stalwarts Jeff Schluze & Michael Testorf from Clearbridge Investments. Jeffrey is a Managing Director and the Head of Economic and Market Strategy at ClearBridge Investments overseeing capital market and economic research and contributing thought leadership on these topics to the institutional investor and financial advisor communities. Michael is a Portfolio Manager on the Global Growth Equity investment team and co-manages numerous global and international growth strategies. Clearbridge Investments manages over USD$187.9 million (as of 31/3/2024).
We talk about everything from clearbridges proprietary recession indicator tool, the anatomy of recession, through to why valuations are as scary as they might look and why investing at the top of the market can still return great results. We discuss the investment case for Emerging markets, Japan, the US and Europe and then explore one of Clearbridges latest equity strategies to be deployed into the Australian market in the Clearbridge Global Growth Strategy.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, EWL Partner and Wealth Advisor Ryan Loehr, speaks with Gregg Taylor from Salter Brothers.
Gregg leads the equities investment team at Salter Brothers, a reputable Australian alternatives investment manager responsible for overseeing $3.5bn of assets for HNW investors and institutions.
We have known Gregg across various iterations of his career, which has seen him work across broking, investment banking and portfolio manager roles with leading institutions. Then building and successfully exiting a large media-tech business as well as a funds management business (Bombora) before joining Salter Brothers. In this episode, we dive into some of the key considerations for founders seeking the right investment partner; unpack some of the common challenges these high-growth businesses face; and discuss why the market for these companies has become attractively priced.
As active investors, finding value often requires a contrarian approach; and both small and pre-IPO businesses have recently lagged larger indices by a large margin. This episode is well suited to founders thinking about taking on a capital partner and key considerations; or investors wanting to understand some of the underappreciated opportunities in high-growth, emerging Australian companies.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode managing partner Tim Whybourne catches up with the entrepreneur, founder, and CEO of Audeara. In the episode, they cover everything from how James came from a career path as a doctor to the CEO of a listed business that creates and sells headphones for the hearing impaired. We talk about the highs and lows of being a founder and what it is like to run an ASX-listed business.
Dr James Fielding is the Founder and CEO of Audeara, the Founder and Director of Robotics Engineering Research Laboratories, Founder and Director of Yumm! Confectionary and Founder and former Director of Field Orthopaedics. He worked in a range of fields before pursuing medicine, including at New York-based hedge fund Bay Harbour Capital and a prominent Hollywood production company. Dr Fielding was based at the Royal Brisbane and Women's Hospital before leaving full-time clinical medicine to focus on the founding and development of his start-up, Audeara. Audeara headphones have the capability to test and re-test the hearing of the wearer over the span of a lifetime. They tailor the sound to the needs of the individual to ensure all people, regardless of their hearing health can enjoy a world-class sound experience. Through his lead, Audera has also taken an active role in promoting awareness of hearing loss and related issues in the community.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode Managing partner Tim Whybourne caught up with the founder of Liquid Gold consultants, Susanne Bransgrove who specialises in assisting family enterprises in tackling the difficult issues of succession, next-generation education and integration, governance, and communication. Liquid Gold Consultants create unique solutions, using customised strategies and suitable structures to create better family cohesion, communication, governance, and focus.
Susanne is best known for providing strategic guidance to family businesses in the areas of ownership/family alignment, business governance improvements and smoother communication flow across organisations. Growing up in Germany as part of a third-generation family business has provided her with a sound foundation for understanding the range of issues that arise when needing to balance the performance of the family business with the differing needs of multiple generations.
In the episode, they cover how they deal with introducing children to wealth without removing their ambition, how to successfully transition a family business leadership from one generation to the next and how families can deal with intergenerational wealth transfer in a considered manner and the discussions we should be having now with our families not waiting for them to hear it for the first time in a will.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, Ryan Loehr, our Brisbane-based Partner, and Private Wealth Advisor speaks with the founders of Agreus, Tayyab Mohamed and Paul Westall. Also joining them is Pierre Pineau, the head of Agreus in the APAC region. This marks part II of our podcasts with Agreus and is focused on identifying the key considerations for families, considering establishing and resourcing their own family office. We explore the different types of family office models; key planning issues to get right beforehand; minimum running costs; how thematics like Artificial Intelligence and cybersecurity are impacting hiring needs; and how to fairly remunerate or internalise family members in the business of the family group.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, Brisbane Partner and Financial Advisor at EW&L, Ryan Loehr, speaks with one, but two specialists from Ares Management, a leading alternative asset manager responsible for over $600B across credit, private equity, real estate, and infrastructure asset classes.
Joining us is Samantha Milner. Sam joined Ares in 2004 and is a Partner, Portfolio Manager and Head of U.S. Liquid Credit Research. Sam is responsible for managing Ares’ US bank loan and liquid credit strategies and has an extensive background in financial restructuring, advising on distressed mergers, acquisitions, and private placements. Sam is based out of LA; United States and we are fortunate to get to spend time with her whilst in Australia.
Additionally, we are joined by Teiki Benveniste, Head of Ares Wealth Management Solutions in Australia. Teiki is the client portfolio manager for Australian investors, and is well-tenured, previously coming from Macquarie group as a senior investment specialist and before Macquarie worked for Société Générale in London as a credit analyst and syndicated loan trader.
For regular listeners, Ryan has increasingly spent time covering private and liquid credit from various, leading fund managers. In this episode, Ryan does something a little different, by comparing the different characteristics, the pros, and cons of both private and traded loans, and the role that each can play in client portfolios. Teiki and Sam provide some invaluable insights, and we hope you enjoy this episode.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode, Managing Partner Craig Emanuel sits down with Craig Blair, Co-Founder and Partner of AirTree Ventures.
AirTee are the pinnacle of the Australian venture capital ecosystem. Craig has been a trailblazer in Australian VC, having been investing in startups with a list of successful exits from the 1990’s, prior to founding AirTree in 2014. With $1.3bn funds under management, AirTree’s portfolio includes many of Australia and New Zealand’s iconic technology companies. Craig has led investments in Canva, Pet Circle, Go1 and Employment Hero, which have delivered hundreds of millions of dollars in investor returns at greater than 100x initial investment. Prior to AirTree, Craig was a Partner at Netus, a venture fund that delivered top decile returns to investors for years in succession. Prior to his VC career, Craig was a founder of several startups including Travelselect, Beamly Australia, and the founding chairman of Pet Circle. Craig spent his early career in strategy consulting and investment banking. Outside of AirTree, Craig is an active philanthropist through the Blair Caffrey Foundation which supports indigenous, women’s and humanitarian causes and the arts. Craig holds a Bachelor of Engineering from the University of Sydney, and an MBA from INSEAD, France.
During this podcast, Craig holds an in-depth discussion with Craig on how he sees the Australian VC industry, how AirTree select and manage their portfolio companies, through to the secrets of maintaining the right work/life balance.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode, Managing Partner Craig Emanuel sits down with Mario Giannini, Co-Chairman of Hamilton Lane. Established in 1991, Hamilton Lane is one of the World’s largest and most respected Private Markets managers, directly managing more than $ 1.3 trillion AUD in assets globally.
During this podcast, Craig holds an in-depth discussion with Mario about what attracted Mario to private markets from an early age, revisiting the bad old chainsaw and leverage days, the firm’s Investment committee process, the pressures in the current environment to deploy capital, through to some crystal ball gazing by Mario. 2024 may in fact prove to be one of the best vintages to invest in.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
The environment for global liquid or traded credit has changed dramatically over the past 10-15 years. Sub-investment grade debt has increased its quality – leverage is significantly lower than historical levels, and the volume of BB quality credits (one rank below IG) in the sub-IG universe is very high. Roughly 50% in the US and 60% in Europe. While some argue that spreads are not wide enough, in this episode we unpack the often-overlooked opportunities available across a range of different security types; where and how KKR can access favourable terms and why investors should be considering this asset class as part of their more aggressive fixed-income portfolios, or as a substitute to some of their equity allocation.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode, Managing Partner, Tim Whybourne catches up with Jonathan Armitage, Chief Investment Officer of CFS in their Sydney studio. They discuss everything from the current state of markets to how CFS goes about constructing portfolios for clients. They touch on the difference between listed and unlisted assets and the opportunity that is emerging for unlisted investments (Private Equity and Credit).
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode Partner’s Craig Emanuel, Tim Whybourne & Ryan Loehr discuss all things markets from what happened in markets in 2023 through to their bold predictions for what 2024 will bring as well as touch on the investment case for private equity and credit.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode, we speak with Brett Winton, the chief futurist for Ark Invest. Brett joined ARK in February 2014 and has worked alongside Cathie for almost 15 years since their time at Alliance Bernstein. As Chief Futurist, Brett drives ARK’s long-term forecasts across convergent technologies, economies, and asset classes, helping ARK dimension the impact of disruptive innovation as it transforms public equities, private equities, crypto assets, fixed income, and the global economy. Brett also serves on the ARK Venture Investment Committee. Brett joined ARK as Director of Research, guiding and managing the proprietary research of ARK’s investment team. Prior to ARK, Brett served as a Vice President and Senior Analyst on the Research on Strategic Change team at Alliance Bernstein. Brett earned his Bachelor of Science in Mechanical Engineering at the Massachusetts Institute of Technology (MIT).
In the episode, we covered everything from why disruptive technology now through the size of the opportunity for some of the portfolio companies like Tesla, Coinbase and DraftKings.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode, we sit down with Benjamin Dunphy from January Capital to talk all things Venture Debt. The asset class is not well understood in Australia so it was fascinating to unpack the opportunity the space may offer to Australian Investors.
Benjamin is the founder and managing partner at January Capital. January Capital is a Venture Capital firm based out of Singapore investing in the Asia Pacific region. Asia-Pacific's first dedicated, diversified fund providing senior, secured loans to leading, growth-stage technology companies, managed by the region's most experienced venture credit team.
Benjamin is responsible for overall portfolio construction and firm strategy at January Capital. Benjamin’s track record of investments includes Akulaku, Shopback, Go1 and Skedulo. Benjamin was the only Australian in 2019 to be named as a member of the Forbes 30 under 30 Venture Capital and Private Equity list.
Prior to joining January Capital, Benjamin worked for Seabury Group, a leading advisory firm in New York, consulting on engagements across three continents. Benjamin was previously based in Southeast Asia as Vice President of Operations for Lazada, a billion-dollar e-commerce company now owned by Alibaba. Benjamin holds a Bachelor of Business (First Class Hons) from the Queensland University of Technology.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, we introduce Tayyab Mohamed and Paul Westall co-founders of Agreus group. Agreus is a leading full-service recruitment firm that works exclusively to solve for the hiring needs of family offices – some of the largest, most successful and high-profile families throughout the world. Unlike traditional business, family offices are unique. Maintaining wealth across generations is notoriously difficult, reflected by the well-known saying “shirtsleeves to shirtsleeves in three generations.” This occurs most often because of failed culture, alignment and dynamic – rather than a lack of skill. Hires need to be a cultural fit; personalities in a small team need to gel; values and vision need to align.
In this episode, Part I (another to follow), we introduce the founders, how and why Paul and Tayyab created Agreus. Their professional life before family office recruitment. The extensive work they do in Family Office Salary benchmarking alongside KPMG. And more critically, discuss the key drivers of establishing a family office. The do’s and don’t and common failures in the recruitment process. On the call we are also joined by Pierre Pineau who leads Agreus’ Asia Pacific division and talk through the needs of families in the region, providing useful context for Australian families to consider how, when and why they should establish a family office – and the alternative ‘hybrid’ models in between.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, our Partner Ryan Loehr speaks to Harry Sugiarto, portfolio manager of Intermediate Capital Group's (ICG) multi-sector liquid credit portfolios. Harry and his team are not constrained to the returns of any one type of asset within credit and can pivot to where the best relative value is. As the risk-free rate of return resets valuations and investor return expectations across all asset classes, credit markets have become increasingly attractive. In some cases, offering investors equity-like or above potential returns with significantly more protection. ICG is a global alternatives asset manager with origins in Europe. Today it manages over USD $80B in AUM and is a truly global business with approximately 600 employees across 16 countries. It is listed on the LSE and is a member of the FTSE250. This is an interesting listen for anyone with a more income-focused investment strategy, or those interested in taking advantage of more attractive opportunities in global traded credit.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode Managing Partner, Tim Whybourne, sits down with David Bassanese, the Chief Economist for Betashares. In their discussion they cover everything from the current economic outlook and view of interest rates to the sustainability of the US debt position and why there is cause for optimism in markets over the coming 5-10 years.
David is responsible for developing economic insights and portfolio construction strategies for adviser and retail clients. Prior to Betashares, David was an economic columnist for The Australian Financial Review (AFR) for over a decade. Prior to the AFR, David spent several years in the financial markets as a senior economist and interest rate strategist at Bankers Trust and Macquarie Bank. He started his career as a Commonwealth Treasury official, after which he spent three years as a research economist at the Organisation for Economic Cooperation and Development (OECD) in Paris, France. He graduated with first-class honours from the University of Adelaide, and a master’s in public policy from the J.F. Kennedy School of Government at Harvard University.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this podcast, EW&L Partner Ryan Loehr speaks with Matthew O’Mara from Apollo Global. Matt is a Partner of Apollo’s Insurance Solutions Group and has responsibility for leading its democratised private market capability globally. For those unfamiliar with Apollo, it is regarded as one of the most reputable private equity and private credit managers in the world. A key differentiator for Apollo is its alignment with investors, with approximately half of its $600B in AUM invested from its own balance sheet, alongside investors. Private Markets are an area that has traditionally been restricted to the largest professional and institutional investors, but managers (including Apollo) are increasingly innovating via new structures to provide private investors with new access points. ‘Alternatives’ or private market opportunities are increasingly playing a more important role in investor portfolios and for anyone looking to understand more about this asset class, this episode provides valuable insights.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode managing partner, Tim Whybourne catches up with Dominic Woolrych the Co-Founder and CEO of Law Path. They sit down to discuss everything from what it was like in the early days, stepping out of a secure career at a large law firm to a start-up all while running another side hustle, which has gone on to achieve more than 1m in revenue per annum. Law Path now services 400,000 small to medium-sized businesses in Australia by providing accessible legal solutions in a scalable format. They have been recognised among the top 10 legal start-ups in Australia and the top 50 globally.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, Ryan Loehr speaks with Nick Cregan, Founder and Portfolio Manager at Fairlight Asset Management.
Fairlight Asset Management is a preeminent global small-mid cap manager responsible for managing A$1B. Despite the youth of the firm, the group has quickly established a formidable reputation locally with a tight-knit investment team that each brings a long and successful track record in the segment. Nick has previously held senior positions with Evans and Partners, managing a global equity strategy awarded “best global fund” in 2016 and top decile performance since inception. He also worked in New York and London with Schroders, as a Senior Analyst of the US $7bn small mid cap fund, responsible for a fourth of its assets. Closer to home, Nick ran an Australian Microcap equities strategy, with 11% per annum outperformance over five years. As Bloomberg published in June 2023, the Fairlight strategy was up 24% for the year, outperforming 97% of global equity peers.
I wanted to speak to Nick because as often occurs in environments like we witnessed in 2022, there is a widening gap between large and mega cap valuations relative to small-mid cap constituents. This can create outsized opportunities. Investors incorrectly assume that smaller means riskier, which isn’t always the case. In 2023, we have witnessed US markets rally, with the S&P500 up circa 20% year to date. However, of this, the 5-largest technology names have driven most of this return, largely on the back of AI-related optimism. Valuations do matter, and ultimately drive long-term value. Many large and mega cap names now look expensive, well above their long-term average. while small-mids look increasingly attractive, well below these multiples. For meaningful diversification, Small-Mids can play a critical role in portfolios. Nick and I talk about the importance of having a clear investment philosophy, strict valuation discipline, and how investors can get exposure to exciting thematics without the excessive price tag.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode, Managing Partner, Tim Whybourne caught up with Jack Neureuter from the Fidelity Digital asset team based out of Boston. They discussed everything from how he got started in the space, the level of institutional demand for Crypto, the investment case for Bitcoin and Ethereum and why they shouldn’t be ignored to debunking some of the most common myths we hear about crypto assets.
Jack Neureuter is a Senior Research Analyst for the Fidelity Digital Assets team. He spends his day-to-day researching, writing, and speaking with institutional clients about macroeconomics and the digital asset ecosystem that is emerging, hoping to help increase comfort levels and bridge the knowledge gaps that exist between traditional asset managers and the digital asset space.
Prior to his current role, he spent time working on the curriculum team for the Chartered Alternative Investment Analyst Association (CAIA) and with Fidelity’s Prime Brokerage team creating portfolio analytics tools for hedge fund investors. Jack graduated from the Honours College at the University of Massachusetts Amherst with a degree in finance and economics.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Our longer lives and increased wealth have taken the traditional area of estate planning to a whole new dimension. When you add other layers of life, including superannuation, blended families, family trusts and businesses, downsizing, aged care, later life singlehood and disinheriting, just to mention a few, what used to be a neat and tidy landscape is now far more abstract. Confronting our future and planning for, and documenting, it has never been more important. Doing nothing about it is an option. If you choose this option, at least understand what it means for your family after you’ve departed. It’s not just what it means for the passing of your wealth but, far more significantly, the effect on relationships within your family. That can be the real legacy of avoidance.
In this Webinar, Brian Herd fromHopgood Ganim will bring his over 40 years of experience in the field addressing the downsides of doing nothing and the upsides of doing something and how to do that something well. He will explore what makes a good will as opposed to a bad one, how to deal with related entities like trusts and the importance of other documents, such as the Enduring Power of Attorney. It will be riveting and motivating.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, Ryan speaks with Matt Vitale the CEO and co-found of Birchal. Birchal is Australia’s leading crowdfunding platform, which has supported approximately 200 businesses in raising the capital they need to scale.
Crowd or community funding platforms are providing a new source of growth capital for entrepreneurs and in the process, are playing a critical role in supporting next generation of Australian businesses.
Today’s start-ups could be tomorrow’s Titans. Great ideas need early funding to scale, and often this is out of reach for businesses who cannot appeal to venture or growth managers.
Some of our own clients, were able to grow their business on the back of successful community funding campaigns and went on to become leaders in their respective industry. Similarly, top-tier VC funds in Australia have also participated in community rounds via Birchal, reflecting the developing ecosystem.
Equally, on the investment side, Crowdfunding can democratise access to an asset class that is otherwise limited to professional or institutional investors.
This episode is an invaluable listen for founders of high-growth businesses, and investors with an interest in supporting early-stage, Australian companies.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode, we catch up with Saxon Phipps from Year13, one of the portfolio companies of Future Now Ventures. We discuss everything from how the business started whilst they were all moonlighting as bartenders, how it got to where it is today to how important it is to have a good team of mentors around you. Year13 are solving a huge problem for our kids, so we hope you enjoyed the insights into one of the leaders of this groundbreaking education tech company.
Saxon Phipps is one of the founders and CEOs of Year13, an Australian EdTech powerhouse, committed to upgrading the school-to-work transition and empowering individuals to embrace a future of hope, security, and productivity. Since experiencing the loss of a friend as a result of the insurmountable pressures that young people face when finishing school, Saxon, along with his Co-Founder, Will Stubley, has dedicated over 15 years of their lives to supporting young people, striving to close the gap on a 20th-century approach to career-related learning and transition to a skills-based economy. Saxon and the team at Year13 have been able to successfully apply this process to work with over 1300 schools across Australia and create several youth engagement strategies and programs for the likes of the Department of Employment and Workplace Relations, the Digital Skills Organisation, Engineers Australia, and Westpac. Year13 also have active partnerships with the likes of NSW, ACT and SA Governments. Saxon regularly speaks at events about youth issues such as The Australian Financial Review - Higher Education Summit, Australian Davos Connection - Future of Education Summits, and is also on the advisory board to the National Careers Institute - an initiative of the Federal Governments Department of Education Skills and Employment.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode, Managing Partner Tim Whybourne chats with Ben James from Ballie Gifford about the opportunity in disruptive technology and how Baillie Gifford has a different approach to most managers. We discuss everything from how to identify stocks that could be the next Google or Amazon to the opportunity in crypto and autonomous vehicles.
Baillie Gifford & Co is an investment management firm that is wholly owned by partners, all of whom work within the firm. It was founded in Edinburgh, Scotland, in 1908 and still has its headquarters in the city. It has corporate offices in New York and London. They have around 270 bn $USD under management. Ben is a Director and Investment Specialist for the equity strategy and Scottish Mortgage. He is a member of the US Equity Product Group. He joined Baillie Gifford in July 2015. Before his career in finance, Ben was an Infantry Officer in the British Army for eight years. During his service, he completed two combat tours of Afghanistan. Prior to this, Ben spent four years working as a professional musician. Ben graduated with a master’s in international development with a focus on sustainable investing and a BMus (Hons) in Music, both from The University of Birmingham.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Our partners, Craig, Tim, and Ryan regroup after staging their mid-year leave. It’s been another eventful financial year, with Wall Street analysts forced back to their drawing boards. Equity markets have rallied strongly, particularly year to date - despite lower earnings, and challenging economic conditions. Indicators increasingly suggest that inflation has, or is about to peak, with the potential for 1-2 rate increases locally and in the US before settling. What does this mean for markets? We cover the US Credit rating downgrade, China’s slowing growth, opportunities in fixed income, household financial health, SEC vs. Crypto developments, and personal investment interests.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Today’s podcast is a recording of a webinar we hosted for clients in late July 2023. On the recording, we discussed everything from what is Bitcoin and Ethereum, how they translate to investment opportunities in the real world and the significant investment potential they offer to a balanced portfolio by adding their institutional-grade Digital Asset Fund.
Trovio is a diversified business founded in 2017 offering three main services. The first being technology solutions, this actually allows them to consult with industry and government and be at the forefront of change in the digital sector for Australia. The second being physical digital asset management and the third being strategic investment in digital asset businesses.
We were joined by both Vimal Gor and Thomas Ciszewski. Vimal is one of the Co-Portfolio Managers for the Digital asset fund and has over 28 years of asset management experience. Prior to joining Trovio, he spent 13 years at ASX listed Pendal Group as the Head of Bond, Income & Defensive Strategies (BIDS). At Pendal he raised over $10billon in FUM to manage a total of $22billion in assets. Prior to Pendal, he spent 10 years at Aviva Investors in London and Scottish Mutual and Murray Johnstone in Scotland. Thomas is the Co-Portfolio Manager for Digital Asset Fund. He has over 25 years of experience in portfolio management and strategy development, having previously worked at Pendal Group, SouthPeak Investment Management, Macquarie and Deutsche Bank.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, we have a special guest Dan Roberts, the co-founder and co-CEO of Iris Energy. Iris Energy is one of Australia’s first crypto mining and infrastructure plays having listed on the Nasdaq in November 2021. Iris Energy is a unique player in the market in that they only use renewable energy during off-peak periods to mine their Bitcoin resulting in what is referred to as “green Bitcoin”. They play a very important part in the renewable energy network as they take and pay for the energy when no one else wants it which brings down the cost of production and increases profitability for renewables. We discuss everything from what is bitcoin and bitcoin mining to the opportunity in the space and what else can be done with the infrastructure they are building.
Daniel has 15 years of experience across finance, infrastructure, and renewables, he was previously the 2nd largest individual shareholder in Palisade investment partners which has 6bn in assets across direct infra projects. Dan has extensive board experience spanning from airports, ports, gas pipelines, bulk liquid storage, waste treatment facilities, and wind and solar farms. Prior to founding Iris Energy Dan worked for both Macquarie and PWC.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
The Year was 2022: No asset class globally escaped the enormous price resetting created by the most aggressive tightening cycle seen in history. Fixed interest markets felt the most pain: US 10-year bonds fell 39.7% for the year. If we were lucky enough to be Marty McFly and set our dash clock back to 28 December 2021 (the market high), how would you manage a bond portfolio differently?
During this podcast, Craig discusses topics such as how Anthony and Western Asset Management adopt such a hugely successful fixed interest strategy to remain ahead of the market. How do you position fixed interest during an economic cycle? How do you reshape a bond portfolio given the frequently changing central commentary? Most importantly can bonds still act as a core defensive asset class – for all investors?
Craig sits down with Anthony Kirkham, the Head of Melbourne Operations and Investment Management for Western Asset Management. Anthony personally manages in excess of AUD$18 billion in fixed interest, spanning across more than 33 years of experience. Anthony is the Head of the Australian Investment team, Head of Australian Operations, and Portfolio Manager at Western Asset since 2007. Mr Kirkham holds a Bachelor of Commerce degree from the University of Melbourne, a Master of Applied Finance from Macquarie University and a Graduate Diploma from the Securities Institute of Australia. Anthony also holds the CFA designation.
Founded in 1971, Western Asset Management is one of the world’s leading fixed-income managers. With a focus on long-term fundamental value investing that employs a top-down and bottom-up approach, the firm has nine offices around the globe and deep experience across the range of fixed-income sectors. Western Asset Management’s parent company, Franklin Templeton, operates in 155 countries. Franklin Templeton offers boutique specialisation on a global scale, bringing extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 32 countries and approximately 1,250 investment professionals, the California-based company has 75+ years of investment experience and approximately A$2.1 trillion in funds under management as of 31 March 2023.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode, we speak with Todd Warren, a Portfolio Manager of Tribeca’s 2050 fund, which invests its focus on decarbonisation beneficiaries such as carbon credits, green chemicals, green metals, green food and industrial innovation. As a senior member of the Tribeca Global Natural Resources investment team, Todd also leads research coverage of key sectors such as energy and bulk commodities, drawing on over two decades of specialist research and portfolio management experience in the natural resources sector having previously worked with Colonial First State Global Asset Management (CFSGAM) in London and Sydney. We dive deep into what Carbon Credits are, how to invest in them and the huge investment opportunity that they present.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, Tim catches up with one of Australia’s most successful investment bankers Trevor Rowe. Mr Rowe is currently a Senior Advisor and was Executive Chairman (to 2019) of Rothschild & Co Australia Limited since November 2005. Prior thereto Mr Rowe was at Citigroup Global Markets and held numerous senior positions with Citigroup/Salomon Smith Barney/Salomon Brothers over a period from 1982 to 2005 living and working in New York, Asia, and Australia. He established Salomon Brothers offices in Australia in 1983. He has held numerous positions on the boards of listed companies and institutions including a stint as Chancellor of Bond university. He has been awarded a Member of the Order of Australia (AM) and an Officer of the order of Australia for his services to the financial sector.
Tim & Trevor covered a number of topics spanning from Trevor’s upbringing to sharing stories of some of the deals he did and interesting people he has met along the way. Trevor also shares his insights as to the direction we should be taking in regard to our closest trade partners and his views on what will happen in markets this year.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Investing in the current climate is not at all easy. Particularly given the events of 2022, coupled with the enormous list of investor concerns. There weren’t many fund managers who made a positive return during 2022. Aspect Capital was one of those very rare funds on the planet that was able to. In this episode, Craig Emanuel holds an in-depth discussion with Anthony Todd, the Founder of one of the World’s largest, longest running and most prominent hedge funds (via managed futures), managing more than AUD$12 billion. Aspect Capital actively trades and invests and investing across more than 200 markets globally, 24 hours a day, seven days a week.
Anthony co-founded Aspect Capital in 1997 and is headquartered in London. Anthony is the CEO of Aspect, the Chair of Aspect’s Executive Board and the Chair of Aspect’s Investment Committee and takes Board level responsibility for investment risk and model risk management. Before establishing Aspect, Mr Todd worked for five years (from March 1992 to October 1997) at Adam, Harding and Lueck Limited (AHL) initially as Director of Financial Engineering and Product Development, before moving to Switzerland as Director of Marketing and Institutional Sales. Prior to this role, Mr Todd was a strategy consultant at Mars & Co., a Paris-based consultancy, from September 1990 to March 1992. From July 1989 to July 1990, Mr. Todd studied at INSEAD in France, and from September 1982 to June 1989 he was with UBS, an international investment bank, in London as Assistant Director in the International Government Bond Group. Mr Todd holds a B.A. in Physics from Oxford University and an M.B.A. from INSEAD in France.
During this podcast, Craig discusses topics such as the hugely successful philosophy and trading strategies employed by Aspect, through to the importance of behavioural finance and how herd mentality (emergence of trends) can create amazing opportunities in markets. It is these dislocations in valuations which creates those opportunities which Aspect has very successfully exploited over almost three decades to generate high returns. No matter what traditional markets or other asset classes return. Key to Aspect’s strategy is the thesis that investment markets are in fact, not efficient. Anthony’s podcast was very kindly coordinated by CFS, who are responsible to manage Aspect Capital’s distribution in the Australian market.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, Craig Tim and Ryan discuss what has transpired in the past 6 weeks in the market. They discuss their views on where interest rates and markets are heading, the implications on the debt ceiling, the recent earnings season and the Annual EWL Investor luncheon they recently hosted at the Calile Hotel in Brisbane (Sydney to follow).
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode, we speak to the Co-Founder of Ophir Asset Management about investing in small cap market. We talk about Andrew’s path to lead one of Australia’s most successful small cap funds, the importance of having skin in the game for an asset manager and how they identify and invest in the best companies of tomorrow.
Ophir manages over 1bn dollars in client capital in small cap strategies both in the US and Australia. Andrew has over 20 years of experience in financial markets covering portfolio management, investment research and economic analysis. Prior to co-founding Ophir ‘Andrew worked as a portfolio manager at Paradise investment management which is another small cap manager covering stocks outside the ASX 150. Prior to this Andrew worked at Commsec as an institutional small cap manager and prior to that he worked as an economist for the Department of Treasury.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, Ryan Loehr speaks in detail with Frank Danieli, Head of Lending and Credit at MA Financial, formerly known as Moelis Australia. Frank has been with the firm for over a decade and responsible for MA’s Global Credit Solutions platform – covering asset-backed lending, corporate debt, bonds and credit opportunity verticals. Frank also has strategic oversight of the firm’s lending businesses, which include non-bank lending and financial technology platforms and its principal credit initiatives. Frank has a substantial background in corporate advisory, focused on special situations, M&A and financial services transactions.
For those not familiar with MA Financial, it's one of the most interesting financial services businesses in the country. It has earned a strong reputation in local investment banking ranks, which should come as little surprise given this business is a legacy of veteran investment banker and Billionaire Ken Moelis, and Andrew Pridham who at only 28 went on to become a UBS Head of Investment Banking, and thereafter Executive Chairman of Investment Banking at JP Morgan. Then UBS colleagues Chris Wyke and Julian Biggins coming together to now co-lead the firm. Both the founders and senior executives in the MA business have deep expertise in real estate, with several local pioneers in what A-REITs are today, and by nature of that, private credit and lending which complements it.
We talk to the types of investments and opportunities that the MA Business focuses on and reflect on how its team has delivered strong returns for investors – often by leveraging their operational expertise to drive additional returns. Examples include how the Redcape and MA Hotels business, owned by MA Financial have helped improve pubs and hotels operations and profitability; how acquiring Finsure a mortgage aggregator, has given the MA credit arm a unique set of data to monitor the health of Australia’s lending ecosystem; or how Retpro has given it’s real asset investments an operational expertise in managing retail property.
We touch on macro and financial conditions, MA Financial’s expected returns across different types of credit; and recent acquisitions including of US Credit Manager Blue Elephant; and the largest set of Marina’s in the Australian east coast from Balmain and Goldman Sachs. It’s a well-rounded and in-depth conversation for anyone learning about MA, particularly the history it has in driving operational value of assets and investments, but also, for those wanting to understand some of the benefits – and key considerations across the MA asset management product suite.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
MBS was founded in 2006 as a Life Insurance advisory practice supporting accounting firms, some of which had extended their offering to include wealth management. Maintaining a specialist focus on insurance, and recognising the value of expertise, MBS Insurance steadily grew over the next decade to proudly call more than 100 financial services firms their referring partners.
Today, MBS Insurance is one of the largest advice producers and portfolio managers of life insurance across Australia with offices across Sydney Melbourne, Perth & Brisbane.
We speak with both Drew Burden who is the founding partner of MBS Insurance with over 15 years experience in insurance markets and Justin Walsh who has nearly a decade in financial markets and more recently specialising in risk markets, Justin looks after their Queensland relationships. Life insurance is a critical part of the wealth planning pie, so it gives us great pleasure to announce that we have partnered with MBS to sit on our panel of life insurance advisory services and ensure that our clients have access to great quality advice, not only on their investments but on their insurance policies also.
Disclaimer: Emanuel Whybourne & Loehr may receive a financial benefit for any clients referred into MBS Insurance.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Following a dramatic change in central bank rhetoric in 2022, and one of fastest shifts in interest rate policy in history – small, high growth, and emerging businesses saw their valuation reset.
Now, enter 2023...a market with much higher costs of capital, much scarcer liquidity, and generally cautious investor sentiment.
Should investors be considering investment in these businesses?
While seemingly uncomfortable, the best private market vintages usually favour conditions like those experienced in 2022 and now 2023.
In this episode, I speak to Brendon Lyons, Head of Private Investments and Portfolio Manager of the Perennial Private Investments team. The Perennial team manages approximately $7.4B across Australian public and private markets. They have an experienced team of 66 professionals, with 16 of those sitting across private markets and listed small and micro caps. Within our industry, Perennial is renown for its expertise across small and micro-cap investing and with the number of high growth businesses choosing to stay private for longer, it was natural for Perennial to move into this market.
We talk to how the macroeconomic environment has changed over the last 12-18 months, particularly with regards to lower levels of liquidity, as the cost and availability of capital becomes more expensive and scarcer, and creating opportunities in high growth, smaller and emerging businesses. The Perennial team are arguably the pioneers of Australian private to public investing, helping to professionalise and prepare private businesses for an eventual public listing and to ensure they are as ‘market ready’ as possible. Brendon highlights how the number of companies they are seeing has grown from around 300 to now 900 annually, how the types of businesses they invest in are either profitable, or at break even, and how a decades long track record has enabled the Perennial brand to attract some of the best founders, and structure deals that many others can’t.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode of the Exchange podcast, we sat down with Casey McLean to discuss all things Australian Equities. Casey is the portfolio manager for the Fidelity Australian Opportunities Fund and has worked with Fidelity since 2015. Prior to commanding the Australian strategy, he was the director of equities in Hong Kong where he specialised in Chinese equities and energy. With more than 19 years of asset management experience, his unique insights make for a very interesting conversation about what lies ahead for markets and the relative value of Australian equities.
With rates likely to remain elevated for longer, McLean highlights the potential risk of re-inflation throughout 2024. Despite this, he talks at length about how Australia's strong track record during periods of moderating global growth, coupled with China's re-opening and demand for commodities, is expected to drive counter-cyclical growth opportunities. As a higher cost of capital widens the divergence of winners and losers, Casey provides context to how investors should be thinking to capitalise on market dislocations.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, we talk with Simon Kuestenmacher from the Demographics group about what Australia and the world will look like over the next 5, 10 and 50 years. We talk about the sustainability of living in concentrated cities, the impact artificial intelligence will have on the workforce, the future of property prices in the major cities and the likely hood of geopolitical tensions escalating globally.
Simon and Bernard Salt co-founded The Demographics Group in 2017. The group provides specialist advice on demographic, consumer, and social trends for business. Simon has presented to numerous corporate and industry audiences across Australia and overseas on demographic trends, consumer insights and cultural change in Australia. His presentations and quirky observations are enjoyed by groups from the financial services, property, government, education, technology, retail, and professional services industries, among others.
Simon is a columnist for The New Daily newspaper and a contributor to The Australian newspaper and he is a media commentator on demographic and data matters. Simon has amassed 300,000 global followers on social media, reaches over 25 million people every month and ranks as one of the world’s Top 10 influencers in data visualisation. If you can’t get enough data that explains how the world works, make sure to follow him on Twitter or any of his other social channels.
If you would like to engage Simon or Bernard directly you can reach them here: The Demographics Group - Insights In Demography (tdgp.com.au)
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, we speak with Jason Orthman from Brisbane-based fund manager Hyperion. We discussed everything from why we should be investing in growth mandates throughout the cycle, the outlook for inflation and the recent short-selling attack on listed company Block.
Hyperion Asset Management was founded in 1996 with the aim to grow the wealth of high-net-worth individuals and enhance their family’s futures. Hyperion now manages over $10 billion for industry and public funds as well as many private investors. The moneys are invested in Australian and/or global equities either through large individual mandates or our three publicly available managed funds. Jason joined Hyperion in 2008 as an Investment Analyst and was promoted to Portfolio Manager in 2009. Prior to this, Jason gained 6 years of industry experience as a Senior Research Analyst with a stockbroker, Wilsons. He has covered a wide range of sectors including mining services, retail, manufacturing, and waste. Jason has a Bachelor of Chemical Engineering (1st Class Honours) and a Bachelor of Business Management from the University of Queensland. He also completed a Graduate Diploma of Applied Finance and Investment from the Australian professional body (now called FINSIA). Jason is a CFA Charterholder and a significant shareholder of Hyperion.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode of The Exchange, we speak to Charles Hamieh who leads the ClearBridge Investments Infrastructure Team based in Sydney. The outlook for global listed infrastructure and the differences between listed and unlisted infrastructure are discussed. The most exciting opportunities in the asset class are looked at along with what differentiates ClearBridge’s approach to infrastructure investing. ClearBridge Investments is a global equity manager committed to delivering long-term results through active management and ESG integration. They have been operating for over 60 years and now have over US$151bn under management. Charles has responsibility for the leadership and management of ClearBridge’s Global Listed Infrastructure Investment Team. As a Portfolio Manager, Charles is a member of the investment committees responsible for all global listed infrastructure strategies. Charles is also a member of ClearBridge’s Australian-based Leadership Team and has 25 years of investment industry experience in infrastructure across several market-leading firms.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode Craig, Tim and Ryan discuss current events ranging from the recent collapse of Silicon Valley Bank, the aggressive re-rating of Credit Suisse equity and Credit Default Swaps and the recently proposed changes to the Superannuation cap rules. They also provide their thoughts on what is to follow in markets for the year.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this podcast, Ryan speaks with the Chief Market Strategist of Lazard Asset Management, Ron Temple. Lazard is a global investment powerhouse, and financial advisory business responsible for managing over $200B in USD terms.
Ron brings a tremendous amount of thought leadership and an invaluable amount of knowledge in markets. This includes a unique perspective on global conflict and geopolitics given his involvement in Lazard’s Geopolitical Advisory Committee. Ron regularly consults with Government, institutions, and Fortune 500 CEOs.
We cover a lot in this session. Inflation, monetary policy, recession, geopolitics, supply chains, corporate earnings, and where to find relative value.
Ron provides his perspective on key risks that are not being adequately priced in markets, such as the reality that inflation may remain structurally higher than in previous decades. Driven by fractured geopolitical relationships, climate change and other long-term thematic drivers. He also points to attractive shorter-duration assets across debt, equities, and explains the potential benefits of positioning conservatively in this environment, exploiting pockets of opportunity as they arise.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Grant Hackett OAM is best known for representing Australia at the Olympic games in Swimming in the early 2000’s. He won a series of Olympic Medals spanning from the 2000 Olympics through to his retirement from Swimming in 2008. Over his swimming career he held 16 world records and received the Order of Australia medal, Australian Sport Medal and the centenary model for his achievements and is a member of the sports Australia Hall of Fame.
After his retirement from swimming, he pursued a career in finance and holds an executive Master of Business Administration with first class honours, a diploma of financial services and is a graduate of the Australian Institute of Company directors. Grant has held several positions in finance with over 15 years of experience in senior positions across both Westpac and BT Financial Group. He joined the Generation Development life executive team in September 2017 and was promoted to CEO in 2018. Since then, he has driven 29% compound annual growth in sales and over 43% compound annual growth in Net Profit for the group. In today’s episode, we discuss the secret to Grant's success and how he ended up leading one of Australia’s largest insurance bond companies. We discussed the mechanics of how these bonds work, who they are designed to help and why they are gaining in popularity in recent years.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In today’s episode of the Exchange, we caught up with Cathie Wood of Ark invest (St Petersburg, Florida) to discuss her annual “Big Ideas” research piece which highlights some sectors within disruptive innovation they believe will grow in excess of 40% per annum over the next decade.
With over 40 years of experience identifying and investing in innovation, Cathie founded ARK to focus solely on disruptive innovation while adding new dimensions to research. Through an open approach that cuts across sectors, market capitalizations, and geographies, Cathie believes that ARK can identify large-scale investment opportunities in the public markets resulting from technological innovations centred around DNA sequencing, robotics, artificial intelligence, energy storage, and blockchain technology. As Chief Investment Officer (“CIO”) and Portfolio Manager, Cathie led the development of ARK’s philosophy and investment approach and has ultimate responsibility for investment decisions.
ARK Invest believes Innovation is key to long-term growth. Cathie Wood has been quoted as saying “Innovation will displace industry incumbents, increase efficiencies, and gain majority market share. More importantly, disruptive innovation impacts and concerns all of our lives.” Cathie will be touching on their annual Big Ideas publication as well as providing her thoughts as to why the time is right to be investing in innovation now.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, Tim catches up with one of Australia’s most successful investment bankers Trevor Rowe. Mr Rowe is currently a Senior Advisor and was Executive Chairman (to 2019) of Rothschild & Co Australia Limited since November 2005. Prior thereto Mr Rowe was at Citigroup Global Markets and held numerous senior positions with Citigroup/Salomon Smith Barney/Salomon Brothers over a period from 1982 to 2005 living and working in New York, Asia, and Australia. He established Salomon Brothers offices in Australia in 1983. He has held numerous positions on the boards of listed companies and institutions including a stint as Chancellor of Bond university. He has been awarded a Member of the Order of Australia (AM) and an Officer of the order of Australia for his services to the financial sector.
Tim & Trevor covered a number of topics spanning from Trevor’s upbringing to sharing stories of some of the deals he did and interesting people he has met along the way. Trevor also shares his insights as to the direction we should be taking in regard to our closest trade partners and his views on what will happen in markets this year.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, hear from Peter Bates (Baltimore, Maryland), Portfolio Manager with T Rowe Price, one of the World’s largest asset managers. T Rowe manages more than US$ 1.6 trillion in assets across 16 countries, employing more than 7,300 staff. T Rowe has been awarded multiple times Global Fund Manager of the year, most recently during the difficult year of 2021. Peter holds an MBA from World’s most respected business school, the Wharton School.
We discuss with Peter what drives investment success, the thought processes behind building a successful long-term portfolio, as well as just what might the World economy look like by Christmas 2023.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, EWL Partners – Craig, Tim and Ryan catch up post Craig’s move back to Sydney, with the doors of our new office now open at number 4 Martin Place in Sydney. Craig, Tim, and Ryan reflect on the year that 2022 was, with one of the fastest rate hiking cycles in history resetting valuations across all asset classes.
With that backdrop, the partners share their views on the lessons learned, their investment views for 2023, and key risks and opportunities that should be considered by investors. We talk through inflation, corporate earnings expectations, job cuts, asset allocation preferences, as well as topical events such as Microsoft’s investment in Open ai’s Chat GPT, and what the reopening of China means for the global economy. Don’t miss this episode!
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
To combat 40-year high inflation, central banks aggressively raised rates in 2022, causing almost all assets to reprice negatively.
A significant conflict between Russia and the Ukraine, soaring energy costs, agricultural items, lingering supply-side issues, and staff shortages were all big, risk-off narratives.
Exceptions to these declines were seen in commodities, commodity-related producers such as mining and materials companies; companies that benefited from reopening such as airlines; and inflation-linked securities which include private debt.
As we begin 2023, consensus is that many developed market economies will enter recession. Corporate earnings are expected to decline, resulting in downgrades and valuations having to decline accordingly. Views on central bank policy are still mixed – rates are likely to continue their rise, albeit at a slower pace.
This is the context in which we enter 2023. One of continued economic uncertainty. The quid pro quo, however, is that the environment for fixed income, or debt investments has changed dramatically. Private debt may now offer investors the potential for equity like returns. In this podcast, Ryan speaks to Bob Sahota, one of the most experienced private debt managers in the country. They talk through some of the key considerations for investors as it relates to private debt; and explore the idea that private debt can offer investors a middle ground. One that doesn’t face the same degree of risk from corporate earnings uncertainty in 2023 (as equities), or the continued risk of higher rates (as traditional fixed income).
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
On this week's episode of The Exchange podcast Tim sat down with Donal Griffin, Principal at Legacy Law.
Donal is admitted as a lawyer in New South Wales, Australia and Ireland and has over 25 years’ experience. He has a Master’s degree in Wills and Estates. Donal practices as a lawyer in the areas of asset protection, estate planning, estate litigation, family trusts and business succession planning. The best question he gets asked is, “What do other people like me do?” The firm is a repository for the answers to this question. He has collated some of his experiences and learnings from working with many families in a book to be published in late 2021 called, “Be A Better AncestorTM”. Families are at the centre of what we do at EWL and growing and protecting family wealth is a key driver of our business.
On this week’s episode of The Exchange podcast Tim sat down with Donal Griffin, Principal at Legacy Law and a leading estates and asset protection lawyer. While the discussion touched on a broad range of wealth protection and estate matters, what was particularly insightful was Donal’s points on the key concerns of wealthy families and ensuring intergenerational wealth was transferred effectively but equally importantly not to spoil your kids through wealth
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
In this episode, hear from Justin Pica, Portfolio Manager at CBRE Investments, the asset management arm of one of the world’s largest property groups, CBRE. CBRE has in excess of $147B of assets under management, drawing on the resources of a truly global research team, operating in 100+ countries, with 105,000 employees and 700 local market researchers. For any property owner, this is a relevant listen, and for investors, talks to discounts in listed real estate that are typically only seen in GFC type events, despite very different circumstances and compelling financials.
Many Australians’ own property and even more would like to know about the outlook ahead. In this episode, we talk key drivers of year-to-date returns, valuation differences between public vs. private real estate, and how investors should be thinking about opportunities in the asset class.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
On this week’s episode of The Exchange, Tim sat down with the exceptional Vimal Gor. Vimal has over 28 years of asset management experience. Prior to joining Trovio in July 2022 he spent 13 years at ASX listed Pendal Group as the Head of Bond, Income & Defensive Strategies (BIDS). At Pendal he raised over $10billion in FUM to manage a total of $22billion in assets. Prior to Pendal he spent 10 years at Aviva Investors in London and Scottish Mutual and Murray Johnstone in Scotland.
As one of Australia’s most highly regarded investors thought leaders it was a real pleasure to discuss Vimal’s career and view on the market.
In this episode Tim and Vimal discussed Vimal’s background and how he got to be so interested in the digital asset space. They discussed what is a digital asset and the difference between the two largest assets in the space, Bitcoin and Ethereum, and the challenges the emerging asset class is currently facing plus what the future might hold.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
This week we released our first “partners” podcast with Craig, Tim, and Ryan.
The partners sat down together and tackled some of the key issues investors have been raising with us including whether a recession is on the horizon, meaningful investment alternatives to equities, our view on what 2023 investment opportunities may look like, as well as gave an overview of the insights they had from the recent JP Morgan Global investor summit in Singapore.
Specifically, they reflect on the last 12-months and what has driven markets. What the next 12-months may look like, and key considerations for investors heading into Q1, Q2 next year. The importance of controlling investor emotion during volatile periods, and sticking to long-term asset allocation strategies. Takeaways from JP Morgan's leading asset management experts, a conference with Howard Marks and Craig announces his move back to Sydney, opening EWL in Martin Place.
Disclaimer:
The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Christopher Joye is a Founder, and Portfolio manager of Coolabah Capital, overseeing more than $7 Billion in fixed income investments. Chris has previously worked at Goldman Sachs in London, Sydney, and the Reserve Bank of Australia. He has also served as Director of the Menzies Research Centre, a leading Australian Thinktank, and is well-known as one of Australia's preeminent economists, policy advisors and fund managers. He is a regular contributor to the Australian Financial Review, and consults to some of the most senior decision makers in the country, including the Prime Minister and Treasurer.
In this episode, we reflect on the current market outlook, asset valuations, key risks, opportunities and considerations that all investors need to keep in mind. Chris is one of the most captivating personalities in the industry. Don't miss this episode.
0:10 Introduction - About the Exchange Podcast
0:56 Christopher Joye - bio/professional background
2:06 Reflection on last 12 months - monetary policy, it's impact on valuations and different asset classes
5:10 Impact of higher rates on bonds, and how this changes the risk premium requirements for other assets
11:20 Central Banks - why was forward guidance so wrong?
14:25 The risk of investing in our own narratives - RBA FOI disclosures revealed
19:30 Exercising judgement - variables that are/are not easy to forecast
23:28 TINA: there is [was] no alternative. Now there are...are people still in denial?
28:45 Impact of higher rates on property prices - who hurts the most?
33:00 New opportunities in safer assets, but concerns in illiquid's.
41:00
Disclaimer:
All information in this podcast is for education and entertainment purposes only. It is not intended as a substitute for professional finance, legal or tax advice.
The hosts of The Exchange Podcast are not aware of your personal financial circumstances. Whilst EWL Private Wealth does operate under an Australian financial services licence, this only relates to direct clients, not this podcast.
Before making any financial decisions you should read the Product Disclosure Statement and, if necessary, consult a licensed financial professional.
For more information head to the disclaimer page on the EWL Website.