From Anthropology to Investing: How Drexel's Endowment Makes Investment Decisions with Stephen Chase

From Spanish Teacher to $18B OCIO CEO | Tim Yates, Commonfund OCIO

On this episode of Dakota Live!, host Robert Morier sits down with Tim Yates, President & CEO of Commonfund OCIO, whose path to leading an $18 billion investment platform is anything but typical — he started out teaching Spanish and Italian at Fordham Prep in the Bronx. Tim shares how a rotational analyst role pulled him into private equity, what emerging markets investing in Latin America taught him about risk and currency, and how the 2003 market dislocation gave birth to Commonfund's OCIO business. He and Robert dig into how endowments and foundations actually think about return objectives, risk budgeting, and illiquidity, why Commonfund backs specialist managers over sprawling firms, and what the NACUBO-Commonfund Study of Endowments reveals about how nonprofits invest. They close on private credit, talent and culture, and managing portfolios in a "VUCA" world. Commonfund was founded in 1971 with a grant from the Ford Foundation as a mission-driven nonprofit built to serve nonprofits. Commonfund OCIO focuses exclusively on the nonprofit world and oversees more than $18 billion (as of 3/31/26) on behalf of foundations, endowments, and other mission-driven organizations.

Operational Alpha in Private Markets: Manager Research, GP Staking & Succession Planning with Chris Brimsek

On this episode of Dakota Live!, Robert Morier sits down with Chris Brimsek, Founder and Managing Partner of CAB Advisory, for a deep discussion on one of the most important—and underexplored—topics in private markets: how great investment firms are built. Chris advises founders and senior leadership teams across private equity, venture capital, real estate, infrastructure, private credit, and GP solutions. His work focuses on the organizational, strategic, and human capital questions that often determine whether a firm can scale, attract talent, retain LP trust, and sustain long-term success. This conversation goes beyond traditional manager research and due diligence. Instead of focusing solely on performance, Robert and Chris unpack what allocators, CIOs, and GP staking firms should really be evaluating beneath the surface. Key themes include operational alpha, GP seeding and staking, succession planning, team development, and the future of fundraising in alternatives. Chris shares why the best firms are focused on making investors, not just making investments, and why this mindset increasingly separates enduring franchises from firms that struggle to scale. Topics include: • Why operational alpha matters more than ever in private markets • How LPs should evaluate manager quality beyond track record • What allocators miss in manager research and due diligence • The evolution of GP seeding and GP staking as an asset class • Key underwriting questions minority investors should ask GPs • Succession planning and leadership transitions inside investment firms • Why private equity is still underinvested in talent development • Lessons private markets can borrow from professional sports teams • Delegation, decision-making, and building next-generation leadership • The future of fundraising across institutional and wealth channels • Emerging trends in private markets, alternative investments, and GP growth strategies Chris also shares insights from his experience at The Carlyle Group, where he worked closely with senior leadership and helped oversee large-scale investment platforms, giving him a unique perspective on how top-performing firms evolve from successful partnerships into scalable businesses. For allocators, asset managers, placement professionals, and anyone involved in manager selection, this episode offers a rare look at the hidden drivers of long-term firm success. If you work in private equity, venture capital, hedge funds, institutional investing, or alternatives, this conversation is essential listening.

Inside Modern Wealth Management: How Top RIAs Build Portfolios, Select Managers & Manage Risk

The RIA landscape is changing fast. Today’s top wealth advisors are doing far more than traditional portfolio management. They’re acting as investment committees, tax strategists, coaches, and long-term partners helping families navigate increasingly complex financial decisions. In this episode of dakota, we sit down with Fulcrum Capital’s Kathryn Fisher, Chief Wealth Strategist, and Hans Krippaehne, Director of Investments, to explore how modern RIAs are evolving to meet that challenge. We discuss how Fulcrum integrates holistic wealth planning with institutional-quality investment management—bringing together portfolio construction, manager selection, due diligence, tax efficiency, liquidity planning, estate strategy, and long-term family stewardship. Topics include: • How the RIA model has evolved from traditional brokerage to fully independent fiduciary advice • Why manager research and due diligence matter more than ever in today’s investment environment • How RIAs evaluate active managers across mutual funds, ETFs, and private market strategies • The growing role of tax-efficient portfolio construction and asset location • Managing liquidity needs while increasing exposure to private markets • How advisors balance long-term discipline against near-term market narratives like AI, private credit, and thematic investing • Why transparency and investor education remain central to client trust • The future of active ETFs and what they mean for wealth advisors Hans shares how Fulcrum approaches underwriting external managers, building portfolios with fewer but higher-conviction allocations, and maintaining discipline in an increasingly crowded investment landscape. Kathryn explains how true wealth management extends beyond investments—covering tax planning, estate considerations, philanthropy, and multi-generational decision-making. And in one of the most memorable moments of the episode, the conversation becomes personal. Joining us as student co-host is Drexel University student Carter Garrison—who also happens to be Kathryn’s son. What begins as a deep conversation about portfolio construction and investment due diligence ends with something even more important: a discussion about family, financial habits, and the lessons parents hope to pass on to the next generation. Because at its core, wealth management isn’t just about growing capital. It’s about building trust, preserving optionality, and creating a legacy that lasts beyond markets.

From Anthropology to Investing: How Drexel's Endowment Makes Investment Decisions with Stephen Chase

Stephen Chase, Associate Director of Investments at Drexel University, joins host, Robert Morier to discuss how a three-person investment office oversees approximately $1.25 billion across the university's endowment and investment portfolio. In this conversation, Stephen shares his unconventional path from studying anthropology at Trinity College to helping manage one of Philadelphia's leading university endowments. We explore how qualitative thinking, manager due diligence, portfolio construction, private markets, real assets, AI, and risk management shape investment decisions inside a modern institutional investment office. Topics include: • Managing a billion-dollar university endowment with a lean investment team • Why an anthropology degree became an advantage in investment management • How institutional allocators evaluate asset managers and build trust • The future of private markets, real assets, and infrastructure investing • AI's growing role in manager research and investment operations • Portfolio construction, liquidity management, and risk oversight Whether you're an allocator, asset manager, investment consultant, student, or aspiring investment professional, this episode offers a rare behind-the-scenes look at how institutional capital is deployed and managed over the long term.

Where Investors are Allocating | Insights from Dakota Live! On The Road

What happens when you leave the conference stage and sit down with investors where they actually work? Over the past year, Dakota Live! has traveled the country, recording conversations with CIOs, investment office leaders, consultants, OCIOs, foundations, endowments, family offices, and institutional investors. This special episode brings together the most important themes, market observations, and portfolio discussions from those conversations. In this episode, we explore: • How allocators are thinking about portfolio construction in today's market • The outlook for private equity, venture capital, and private credit • Manager selection and due diligence trends • The growing role of AI in investing and operations • Active versus passive management in concentrated markets • Risk management amid uncertainty and idiosyncratic volatility • Emerging opportunities across public and private markets The Dakota Live! On the Road series is different because these conversations happen where decisions are made—inside investment offices, on university campuses, and alongside the teams responsible for stewarding long-term capital. On the road. On the ground. In the room.