Capital Allocators Monthly Newsletter - March 2025
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1. Understanding Tariffs
Blog | 3 Mins to Read
Two clear-thinking, data-driven Wall Street veterans, Zoe Cruz and Michael Cembalest, describe the administration’s attempt at realignment. Existing tariffs on U.S. imports are significantly higher than those it has placed on other countries. The charts below are pulled from their research.
2. Is the Past Prologue?
Article | 12 Mins to Read
Two articles caught our eye describing comebacks. The structured credit conference in Vegas is larger than ever, and Nick Maounis’ Verition is rare hedge fund second chance. Are these signs of a cyclical peak for credit and platform hedge funds?
3. Success in Succession, Permanent Equity
Article | 4 Mins to Read
With succession issues hovering over many alternative asset firms, lessons from the corporate world can help investors think through transitions. Brent Beshore and his team put together a terrific series discussing the process.
4. The State and Future of Private Equity
Journal | 4 Hours and 30 Mins to Read
Hamilton Lane’s Private Market Overview – What, Me Worry? is an entertaining read. Like Bain & Co’s report, it highlights the strength of the mega firms. Michael Sidgmore’s Alt Goes Mainstream asks the question of what will happen as the big get bigger.
5. You Have the Big Seat, Now What?
Article | 1 Mins to Read
Nicolai Tangen and Brad Briner are both making good use of their roles. Listen to Nicolai’s and Brad’s conversations with Ted.
BONUS: All-In Podcast with Treasury Secretary Scott Bessent
Podcast | 1 Hour and 13 Mins to Listen
Scott discusses his goals and plans after seven weeks on the job.
EP. 434 David Zorub – Founder and CIO of Parsifal Capital Management, David Zorub, discusses navigating hedge fund headwinds at Parsifal.
EP. 435 Shannon O’Leary – St. Paul & Minnesota Foundation’s CIO, Shannon O’Leary, discusses her relationship-driven approach to investing.
EP. 436 Alex Sacerdote – Founder of Whale Rock Capital Management, Alex Sacerdote, discusses his investment framework centered around S-curves.
EP. 437 Ed Grefenstette – The Dietrich Foundation’s CIO, Ed Grefenstette, discusses their bold approach to grow assets.
EP. 438 Meghan Reynolds – Partner and Head of Capital Formation & Talent at Altimeter Capital, Meghan Reynolds, discusses the art of capital formation.
EP. 47 Rob McGrail – General Counsel and CCO for DUMAC, the management company for Duke University, Rob McGrail, shares insight about the evolution of DUMAC’s legal and investment operations.
EP. 48 Kathleen Servidea – General Counsel and CCO at Gallatin Point Capital, Kathleen Servidea, shares insight about bringing AI in-house.
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This testimonial is being provided by Capital Allocators, who has been compensated a flat fee by WCM. This payment was made in connection with Capital Allocators’ testimonial and production of podcasts and does not depend on the success or level of business generated. The opinions expressed are solely those of Capital Allocators and may not reflect the opinions of others. Investing involves risks, including the possible loss of principal. Past performance is not indicative of future results. Please visit wcminvest.com for WCM’s ADV and further information.
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