Peter Kraus is the Chairman and CEO of Aperture Investors, a $5 billion asset manager he founded after a storied four-decade career on Wall Street, including heading the Investment Management Division at Goldman Sachs and serving as Chairman and CEO of AllianceBernstein. Throughout his career, Peter has been a vocal proponent of pay-for-performance compensation models and the need for trust between active managers and their clients.
He ultimately decided that a successful culture of performance-linked fees that properly aligns the manager and client could only occur in a new firm built from scratch. He teamed up with Italian insurance company Generali to launch Aperture in 2018.
Our conversation covers Peter’s career at Goldman Sachs and AllianceBernstein, the structural problem of incentives in the asset management industry, and Peter’s attempt to disrupt that structure. We then discuss his process for selecting managers on Aperture’s platform, including screening, due diligence, and the nuances in idea generation, track record, value system, and managing teams.
All opinions expressed by Ted and podcast guests are solely their own opinions and do not reflect the opinion of the firms they represent. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.