In this captivating episode of the Dakota Live! Podcast, host Robert Morier welcomes Chris Schelling, Managing Director of Private Markets at Caprock, to explore the intricate world of alternative investments. With a rich background spanning over two decades in the investment industry, Chris has been at the forefront of building portfolios with a keen focus on alternatives, achieving remarkable success through his strategic allocations across hedge funds, real assets, private credit, and private equity.

Caprock is a multifaceted wealth advisory firm that specializes in providing comprehensive investment and wealth management solutions to high-net-worth individuals, families, and institutional investors.

Serving over 300 families, Caprock advises on assets of $8.9 billion dollars as of December 31, 2023. Of which, $4.1 billion is allocated to private markets, and $2.2 deployed with impact intentionality. The firm is an SEC-registered investment advisor and a founding B-Corporation headquartered in Boise, Idaho.

Join us as Chris shares insights from his extensive journey, including the evolution of alternative investments and the importance of sustainability in modern investment portfolios. He also dives deep into his analytical approach to portfolio construction, manager selection, and the critical role of manager research in achieving top-tier investment returns.

Chris is an influential voice in the investment community, sharing his insights and analyses through various publications including his book, ‘Better Than Alpha.’  His writings delve into the nuances of the illiquidity premium, the dynamics of alternative investments, and the evolving landscape of private equity and hedge funds.

This episode is a must-watch for anyone interested in the complexities and opportunities within alternative investments, from seasoned professionals to those just starting their journey in the finance industry. Chris's expertise and unique perspectives provide invaluable lessons on navigating the alternative investment landscape and leveraging it for future success.

Whether you're looking to understand the nuances of private equity, hedge funds, or the impact of technological advancements on investment strategies, this conversation offers a comprehensive overview of the current trends shaping private markets.

Don't forget to subscribe to our channel for more episodes filled with expert insights and strategies from leading figures in the investment industry. If you find this episode valuable, please like, share, and comment below with your thoughts or questions.

Christopher Schelling: [ Ссылка ]

Robert Morier: [ Ссылка ]

Andrew O’Shea: [ Ссылка ]

Our Website:
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Caprock:
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Better than Alpha by Christopher Schelling:
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🎙️ Listen to the Podcast:

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0:00 Intro
1:34 At the desk
1:56 Chris Schelling Intro
4:07 Not the beginning, but now
4:29 Journey into manager research
5:57 University education in alternatives
6:40 Private investment intersections
9:22 Caprock overview
11:04 Process
12:46 End clients
14:24 Fund of funds
14:52 Manager underwriting process
16:16 Must haves
17:11 Investing with impact
19:56 Common manager traits
19:56 Drawing the line
21:01 Team criteria
23:14 Investment performance
25:20 Character
27:10 360 assessment
28:25 X-Ratios and I-Ratios
31:39 Illiquidity
32:34 Penalty cost approach
33:59 Barriers
35:51 Hedgefunds
38:02 Client education process
38:53 Areas of opportunity
41:04 Sizing manager exposures
42:29 Advice to young professionals
44:03 2024
46:13 Private credit
48:01 Mentors
49:21 Proudest decision
50:25 Outro

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