Alternative Allocations with Tony Davidow – Details, episodes & analysis

Nick Veronis joins Tony in episode 15 of the Alternative Allocations podcast series to discuss the evolution of alternative investments solely being available to institutions to now becoming more accessible to the wealth channel. They delve into the changes in product structures, the introduction of technology to simplify operations, and the emergence of educational opportunities to help advisors understand the role alts play in client portfolios.

Nick is Co-Founder and one of the Managing Partners of iCapital, where he is Head of Portfolio Management. He is also a member of the company’s Operating Committee. Nick spent 11 years at Veronis Suhler Stevenson (VSS), a middle market private equity firm where he was a Managing Director responsible for originating and structuring investment opportunities. At VSS, he specialized in the business information services sector and helped spearhead the firm’s investment strategy in the financial software and data sector, including its investment in Ipreo. Nick was previously an operating advisor to Atlas Advisors, an independent investment bank based in New York. He began his career as a financial journalist for The Boston Business Journal, was a reporter for The Star-Ledger, and a Senior Associate in the New Media Division of Newhouse Newspapers. He holds a BA in economics from Trinity College and FINRA Series 7, 79, and 63 licenses.

Nick Veronis | LinkedIn
Powering the World's Alternative Investment Marketplace - iCapital
Alternatives by Franklin Templeton
Tony Davidow, CIMA® | LinkedIn

In episode 14 of the Alternative Allocations podcast series, Richard shares reasons why the current disruptive market environment offers a great opportunity for commercial real estate debt, such as better risk adjusted return potential, low to negative correlation to traditional investments, and higher income. Understanding the opportunity, Tony and Richard review the many roles that commercial real estate debt can play in client portfolios.

Richard Byrne is President of Benefit Street Partners, a Franklin Templeton Company, and serves as Chairman and Chief Executive Officer of Franklin BSP Realty Trust, Inc. (NYSE: FBRT), Benefit Street Partners Multifamily Trust, and Franklin BSP Capital Corporation. He is an influential thought leader and frequent speaker on many topics including commercial real estate debt, highlighting investing opportunities and risks in CRE lending. 

Prior to joining Benefit Street Partners, Richard was Chief Executive Officer of Deutsche Bank Securities, Inc and was the Co-Head of Global Capital Markets at Deutsche Bank as well as a member of their Global Banking Executive Committee and Global Markets Executive Committee. Before joining Deutsche Bank, he was Global Co-Head of the Leveraged Finance Group, and Global Head of Credit Research at Merrill Lynch & Co. Richard earned an MBA from the Kellogg School of Management at Northwestern University, and a BA from Binghamton University. He is a member of the Board of Directors of Wynn Resorts, Limited (NASDAQ: WYNN), and New York Road Runners. He is also Founder and Chief Executive Officer of KASAI Elite Grappling Championships.

Commercial real estate debt is struggling—what a great opportunity
Commercial real estate debt: Another way to access real estate
Benefit Street Partners
Richard Byrne | LinkedIn
Alternatives by Franklin Templeton
Tony Davidow, CIMA® | LinkedIn

In Episode # 5 of the Alternative Allocations podcast series, focusing on the opportunities in secondaries with my guest Taylor Robinson, we discuss the diversity and opportunities in the secondaries market. We discuss how the extraordinary growth in private equity, coupled with slowing exits, has created opportunities for secondaries managers to acquire assets at attractive valuations.   

Taylor Robinson is a Partner of Lexington Partners, primarily focused on sourcing, negotiating, and executing secondary transactions. Taylor joined Lexington Partners in 2008 from JPMorgan, where he was in investment banking and leveraged finance. Aside from his investment focus and other Firm responsibilities, he is a member of Lexington’s ESG steering committee and Franklin Templeton’s global Stewardship & Sustainability Council.

Resources:

About Lexington Partners | Alternatives by FT
Why private equity | Alternatives by FT
Taylor Robinson | LinkedIn
Alternative Allocations: The growth and diversification of secondaries | Franklin Templeton
Alternatives by Franklin Templeton
Tony Davidow, CIMA® | LinkedIn

In this episode of the Alternative Allocations podcast series, Aaron and I discuss asset allocation and portfolio construction, and the merits of goals-based investing. We also dive into the current market environment, the versatility of alternatives, the need for education, and total portfolio allocation.   

Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP oversees UniFi by CAIA™, a learning platform dedicated to educating the private wealth management industry on alternative investments.

Aaron is a frequent speaker and writer on various topics of alternative investments and his work has been published in CAIA’s educational programs, numerous academic journals, books, and industry publications. Aaron’s industry experience lies in private wealth management, where he oversaw asset allocation, portfolio construction, and manager research efforts for high-net-worth individuals and institutional retirement plans.

He earned a B.S. with distinction in Finance and a Master of Finance from Penn State University. He is a Past President of CFA Society Columbus and serves as a board director and Programs Chair for CFA Society Philadelphia. Aaron is an adjunct professor and serves on multiple advisory boards for Penn State University.

Resources:

CAIA - Chartered Alternative Investment Analyst Association
Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP | LinkedIn
Alternatives by Franklin Templeton
Franklin Templeton Alternatives Education
The cost of being too liquid white paper
Tony Davidow, CIMA® | LinkedIn

In episode 3 of the Alternative Allocations podcast series I discuss democratizing alternative investments with my esteemed guest Jenny Johnson, President and Chief Executive Officer of Franklin Templeton. Jenny and I chat about opportunities in the wealth management channel, the need for advisor education, and why she is committed to growing Franklin Templeton’s alternatives business. 

In a career spanning 35 years, Jenny has been a key driver of the company's transformation to what is now one of the largest global investment managers with over U.S. $1.4 trillion in assets under management.

During the course of her career, Jenny has held leadership roles in all major divisions of the asset management business, including investment management, distribution, technology, operations and wealth management. She has led the evolution of Franklin Templeton since becoming CEO in February 2020, and has further diversified the company's investment capabilities and client solutions through key strategic acquisitions and investments.

Jenny has received many recognitions, including being named to Forbes' "World's 100 Most Powerful Women" and "50 Over 50" lists in 2022. She has been named to the 2023 Barron's list of the "100 Most Influential Women in US Finance," marking the fourth consecutive year she has been honored. She was also named to Pensions & Investments' inaugural class of "Influential Women in Institutional Investing" in 2023.

Jenny serves on a variety of boards, including the International Advisory Panel of the Monetary Authority of Singapore, the New York Stock Exchange (NYSE) Board Advisory Council and, in 2023, was appointed to the US-Brazil CEO Forum. Additionally, Jenny is a board member of the Memorial Sloan Kettering Cancer Foundation, Thermo Fisher Scientific and Catalyst. Previously, she has served on several other boards, including Stanford's Lucille Packard Children's Hospital and the San Francisco Giants. Jenny earned her B.A. in economics from the University of California at Davis.

Jenny Johnson | LinkedIn
Alternatives by Franklin Templeton
Tony Davidow, CIMA® | LinkedIn

Check out episode 2 of the Alternative Allocations podcast series, focusing on the opportunities in alternative credit strategies with my guest Rich Byrne. Rich and I explore the current market environment, and the opportunities in direct lending, distressed, and real estate debt. 

Rich Byrne is President of Benefit Street Partners, a wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN), and serves as Chairman and Chief Executive Officer of Franklin BSP Lending Corporation, Franklin BSP Capital Corporation, Franklin BSP Realty Trust, Inc. (NYSE: FBRT), and Benefit Street Partners Multifamily Trust.

Prior to joining Benefit Street Partners, Rich was Chief Executive Officer of Deutsche Bank Securities, Inc and was the Co-Head of Global Capital Markets at Deutsche Bank as well as a member of their Global Banking Executive Committee and Global Markets Executive Committee. Before joining Deutsche Bank, he was Global Co-Head of the Leveraged Finance Group, and Global Head of Credit Research at Merrill Lynch & Co. Rich earned an MBA from the Kellogg School of Management at Northwestern University and a BA from Binghamton University. He is a member of the Board of Directors of Wynn Resorts, Limited (NASDAQ: WYNN), and New York Road Runners. He is also Founder and Chief Executive Officer of KASAI Elite Grappling Championships.

Benefit Street Partners
Why Private Credit?
Richard Byrne | LinkedIn
Alternatives by Franklin Templeton
Tony Davidow, CIMA® | LinkedIn

In this inaugural episode of Alternative Allocations, host Tony Davidow interviews John Bowman from the CAIA Association (CAIA), discussing “The State of the Alts Industry.” According to research conducted by CAIA, over the last twenty years, total investable assets allocated to alternative investments have increased 150% with alternatives now representing about 15% of the total investable universe. Davidow and Bowman discuss the “democratization” of alternatives and lessons learned from institutions. They discuss the growth of alternatives across the wealth management community, and the confluence of events that make this an ideal time to consider allocating to alternatives – the current market environment, product innovation, and access to institutional-quality managers.

John serves as Executive Vice President for the CAIA Association, overseeing the industry-leading CAIA charter, thought leadership and content development, and CAIA's Asia Pacific strategy. John has devoted over 20 years to the asset management industry to recover the narrative of the value that the investment profession brings to society. John previously served as Managing Director for the Americas for CFA Institute and as a portfolio manager at Mellon Growth Advisors (MGA) and State Street Global Advisors (SSgA).  John is a prolific writer and commentator, frequently appearing in industry and business publications such as the Wall Street Journal, The New York Times, Pension and Investments, Financial Advisor, The Independent, Wealthmanagement.com and CNBC, and various podcasts.

CAIA - Chartered Alternative Investment Analyst Association

John L Bowman, CFA | LinkedIn

Alternatives by Franklin Templeton

The cost of being too liquid white paper

Tony Davidow, CIMA® | LinkedIn

We’re excited to introduce our new podcast series “Alternative Allocations” focused on helping advisors make better-informed decisions about the role and use of alternative investments. Join host, Tony Davidow, Senior Alternatives Strategist with the Franklin Templeton Institute, for this monthly podcast series designed specifically for sophisticated advisors who are seeking alternative investments to meet their clients’ goals and objectives.

To learn more, please visit alternativeallocationspodcast.com.

Episode 13 of the Alternative Allocations podcast series includes Tony’s discussion with Will Dillard from Mercer, along with Will hosting a panel with Tony at CAIS Live in Atlanta. Will’s experience working with institutions allowed him to share valuable insights into how institutions allocate to capital, conduct due diligence, and consider the benefits of diversification across alternative investment strategies. Tony and Will discuss their respective market outlooks, along with things to consider when allocating to alternatives. 

Located in Mercer's Atlanta office, Will Dillard, Senior Principal, Investment Consultant, is focused on working with Private Wealth firms as well as institutional clients.  Will serves as the Senior Strategist within Mercer’s Wealth Management segment.  In this role, Will is a resource for clients and consultants when constructing portfolios and ensures that Mercer is addressing client specific needs.  Additionally, Will works closely with Mercer’s asset allocation team constructing and maintaining reference portfolios.  Will is also an active member of the Wealth Management Strategic Research Team.  

Will holds a Bachelor of Science degree with a concentration in Finance and Economics from the University of North Carolina at Wilmington.  Will also holds the CFA and CAIA designations.  

William Dillard, CFA, CAIA | LinkedIn
Mercer | Welcome to brighter
Building better portfolios with alternative investments: a goals-based framework
Alternatives by Franklin Templeton
Tony Davidow, CIMA® | LinkedIn

In episode 12 of the Alternative Allocations podcast series, Tony and Daniil discuss the greater focus on alternative investments by asset managers, the wealth management community, and individual investors. With the development of new structures and increasing access to these investment options, they consider the evolution of the industry and both foresee an ever-increasing adoption of alternative investments in the coming years.

Daniil is a director of Cerulli’s Product Development practice, where he works on the identification, analysis, and reporting of asset management industry trends with a focus on alternative investments.

Prior to joining Cerulli Associates, Daniil was part of the Product Management and Business Intelligence teams with the MainStay Funds, part of New York Life Investment Management. At MainStay, Daniil supported sales efforts via fund and ETF competitive analysis, product research, and development of marketing materials, as well as performance reporting. Before New York Life, Daniil was part of the risk management practice at Accenture, and held risk and compliance roles at HSBC’s investment bank.

Daniil is a CFA® Charterholder and holds the FRM And CIPM designations. Daniil graduated from Baruch College with a B.B.A. in Finance and Investments.

Daniil Shapiro, CFA | LinkedIn
Alternatives by Franklin Templeton
Tony Davidow, CIMA® | LinkedIn