How have you been a change agent at
your organization? What have you done
that you’re particularly proud of?
During my time as Deputy CIO, I helped
spearhead the restructuring of the investment staff organizational chart from a
more siloed structure with narrowly focused
asset class teams to a more open structure,
whereby investment professionals work
across broader asset class categories (e.g.,
Equities, Fixed Income/Credit, Real Assets,
and Multi-Strategy as well as Private Markets and Public Markets) in order to improve
resource allocation and collaboration. In
addition, I also led an analyst project rotation
program resulting in improved cross-train-ing of analysts and knowledge sharing across
What is the asset class or investment
that keeps you up at night, and why?
Most asset classes keep me up at night right
now. Given valuations across asset classes
and expected forward returns, at this point
in the cycle it is tough to find an asset class
or investment that helps you sleep soundly.
Where do you fall in the passive vs.
I believe in active management where it
makes more sense to be active. I think this
determination is twofold: first, in areas
where active management has a better like-
lihood to outperform, and second, where it
makes the most sense to have team members
spend their scarcest resource, time.
What are the changes you’d like to see
the institutional investing community
make in 10 years?
I’d like to see more institutional investors
think less in terms of asset classes or “
buckets” and more creatively and holistically in
terms of number of line items in a portfolio
and the merits of each investment on its own,
as well as its role in the broader portfolio.
Who is a manager you don’t currently
work with whose brain you’d like to pick?
Peter Thiel. Although we are not particularly active in venture capital, I find my conversations with venture capitalists to be some
of the most fascinating I get to have. Hearing their thoughts on what major changes
are still in their infancy today and how they
are looking to help people build businesses to
drive those changes fascinates me.
Ideally, where would that meeting take
Jackson Hole, Wyoming. It is the quietest,
most peaceful place I have ever been. It would
be perfect for this type of conversation.
What is the investment tool that helps
Robert (“Bo”) Ramsey III
Deputy Chief Investment Officer, Director of Equities,
Indiana Public Retirement System (Indianapolis, IN)
Leading the PE efforts, he has completely revamped the
portfolio, adding a highly accretive coinvestment platform
and secondary effort. Bo’s approach to identifying and
underwriting managers is unique—addressing the
quantitative analysis without losing sight of underwriting
the harder to quantify qualitative risks.
Although I am a big advocate for software
improving work flows and efficiency in the
office, the single most impactful software I
use on a day-to-day basis for investment purposes is still Excel.
What would improve the relationship
between you and managers?
Honesty, transparency and aligned expectations are the cornerstones of the best partnerships we have with managers.
Why did you choose your current path?
I started my career in the legal profession as
an M&A attorney in the private equity and
venture capital space. I quickly realized that
what I enjoyed most was taking apart investments, business models, and companies to
decide whether or not the deal was a good
risk-adjusted opportunity. It was this experience that helped me realize my true passion
was in investments.