This podcast episode explores Stephen Nesbitt's journey from traditional index funds to leading innovative alternative investments with his company, Cliffwater. It delves into his detailed research methods for selecting asset managers, his strategic shift towards private debt due to low yields, and the creative use of interval funds to improve investor access. Nesbitt shares his experiences as he expands into private equity, addresses the risks in the private credit market, and discusses the core values shaping his personal and professional life. Throughout, he emphasizes the importance of flexibility, relationship-building, and effective risk management in investment approaches.
