Investment Manager, JM Family Enterprises, Inc.
(Deerfield Beach, FL)
Ron was crucial to the design of the overall strategy
diversification and structuring of the liquidity guidelines
to ensure JM Family met their long-term investment
goals, while meeting the company’s capital requirements.
He made key contributions upgrading internal processes,
specifically investment reporting, resulting in increased
transparency and leverage in fee negotiations.
How have you been a change agent at
your organization? What have you done
that you’re particularly proud of?
Since coming onboard at JM Family, I have
been part of a team that created a corporate investment portfolio that is nearly 100%
alternatives. We’ve made investments into
new strategies and assets with this portfolio,
including direct hedge funds, private equity,
venture capital, real estate, and co-investments. I enjoy looking outside of the box for
new ideas and pushing to make investments
in unique opportunities.
What is the asset class or investment
that keeps you up at night, and why?
We employ a healthy amount of diversification so there’s not really one thing that
stands out. I am more worried about how
people will react when volatility comes back
and there is a big pullback.
What methodologies have you adopted
within your institution?
I helped our team continue to refine the
manager selection and portfolio construction
processes with a focus on asset allocation and
Where do you fall in the passive vs.
Both have pros and cons. I think you have
to pick your spot and really understand what
you are actually investing in with active or
What are the changes you’d like to see
the institutional investing community
make in 10 years?
I’d like to see better alignment of interest
between asset owners and managers regarding fees and skin in the game.
Who is a manager you don’t currently
work with whose brain you’d like to pick?
Ideally, where would that meeting take
Ideally, we’d be on a fishing charter in the
Keys. In reality, I’d travel to him, so I guess
it would be in New Haven, CT.
What is the software investment tool
that helps you most?
I use Excel more than anything else.
What would improve the relationship
between you and managers?
More frequent communications and transparency.
Why did you choose your current path?
I enjoy the mental challenge of investments.
There is no single “right” answer and the
game is constantly evolving. I came to JM
Family because I wanted a position where I
felt my interests were aligned with the investment decisions I would be influencing. I also
value the flexibility to look at any investment opportunity. At JM Family, my group
is responsible for three pools of capital with
very different mandates, including managing the retirement plans, so I feel interests
are well aligned.