This Sponsored Insight features Michael Carmen, the Co-Head of Private Investments at Wellington Management. Wellington’s Private Investment platform has $8 billion in committed capital investing across technology, consumer, health care, and financial services. Michael helped launch the firm’s first private equity fund in 2014, bringing Wellington’s broad scope to late-stage venture-backed companies. He previously invested in diversified small- and mid-cap public equities.
Our conversation covers Michael’s early career, path to Wellington, and pivot after a decade at Wellington from public markets to privates. We discuss his investment process across sourcing, diligence alongside Wellington’s public equity analysts, value proposition for portfolio companies, portfolio construction, and exits. We close with opportunities and risks for those with capital to put to work.
03:14 Early career
07:14 Path to Wellington
08:43 Pivot from public market investing to private
10:45 Investment philosophy
13:30 Diligence alongside public equity analysts
20:29 Portfolio construction
31:07 Supporting portfolio companies
32:30 Tech bubble lessons
40:14 Investment examples
47:44 Closing questions
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.