In this episode of the Manager Meetings podcast, Chris Heller, co-founder of Cordillera Investment Partners, shares insights into his firm, which manages a $1.2 billion alternative investment fund. Cordillera specializes in "alternative alternatives"—unique, non-correlated assets such as aging whiskey, boat marinas, and water rights—aiming for higher returns while diversifying risk. Heller discusses the firm’s investment approach, which prioritizes early entry into asset classes, extensive due diligence that can take 6 to 12 months, and the creation of a diversified portfolio to reduce specific risks. He also underscores the necessity of having a well-defined exit strategy before making any investments. Throughout the conversation, Heller emphasizes the importance of understanding and addressing the unique risks tied to each asset, as well as how the firm has adapted its deal structures to enhance returns and effectively manage exits.
