In this enlightening episode of the Dakota Live! Podcast, host Robert Morier sits down with Breanna Stein Genecov, Director of Portfolio Solutions and OCIO with Makena Capital. With a background in risk management, portfolio strategy, and manager selection, Breanna offers a deep dive into the complex world of Makena Capital’s OCIO business and how the firm shapes investment outcomes for a diverse client base.

Makena Capital Management, LLC was formed in 2005 by senior executives from the Stanford Management Company along with other leading practitioners from elite North American endowments and foundations.

The firm offers investment expertise, scale and access to a diverse client base which includes endowments, foundations, family offices, sovereign wealth funds and international institutions focused on preserving and growing multigenerational capital. As of December 2023, the firm is responsible for over $20 billion in capital under management.

Beginning as an intern with Makena Capital to her role today, supporting the design, implementation, and management multi-asset class portfolios, Breanna enhances our understanding of the role of the OCIO and the strategic decisions that drive Makena’s investment strategy. With an MBA from Stanford Graduate School of Business, her insights are grounded in substantial academic and practical experience, making her perspective invaluable to anyone interested in the dynamics of manager selection and asset allocation.

Episode Highlights:

• The Role of OCIO: Explore how OCIOs like Makena Capital manage investments for endowments, foundations, and family offices, ensuring their long-term financial health and growth.

• Career Insights: Breanna discusses her career trajectory, including her shift from covering natural resources to multi-asset class solution management, and the impact of her education on her professional path.

• Investment Strategies: Gain insights into Makena Capital's approach to investment, focusing on risk management, asset allocation, and the key attributes Makena looks for in asset management partners.

• Future of Investing: Discussion on the evolution of investment strategies in response to market changes.

Whether you're a professional in the industry or an interested observer, there's something in this episode for everyone.

Breanna Genecov:   / breanna-genecov-82b56a27  

Robert Morier:   / robertlmorier  

Andrew O’Shea:   / andrew-o-shea-03717516  

Our Website:
https://dakota.com

Makena:
https://www.makenacap.com/

🎙️ Listen to the Podcast:

Spotify:
https://open.spotify.com/show/3NUXRMz...

Apple Podcast:
https://podcasts.apple.com/us/podcast...

0:00 Intro
2:50 Breanna Genecov Intro
4:41 Internship at Makena
6:19 Way into finance
7:01 Early years at Makena
8:23 MBA Process
10:17 Moving to natural resources
11:23 Overview of Makena
13:42 Defining OCIO
15:07 Client types
16:08 Asset allocation
18:15 Portfolio construction
19:54 Idea generation
21:37 Manager sourcing process
25:01 Manager concentration
25:01 Steps after initial meeting
27:07 Emerging managers
28:06 Consistent attributes
29:26 Co-Investments
30:34 Where does venture fit in
31:52 Private credit
33:04 Natural resource biases
33:44 Hybrid managers
35:19 Sustainability
36:31 Importance of idea sharing
37:51 Best point of entry
38:34 Proud decisions
40:10 Mentors
42:48 Outro