Chronicles of an Allocator

Authored by Claire Sawyer, Associate Director, Educational Programs

Most investors are swimming with the current. But a growing group is headed upstream—and they’re not looking back.

In this month’s Chronicles of an Allocator, author Claire Sawyer, Assistant Director, Educational Programs pulls forward the real-world lessons from our latest report, From Vision to Execution: How Investors Are Operationalizing the Total Portfolio Approach, released earlier this month.

The whiteboard is full—now we’re seeing what happens in the real world. 

From mindset shifts to governance tweaks to the slow, sometimes scrappy work of cultural change, we’re sharing how asset owners are putting TPA into motion—warts, wins, and all.

Authored by Steven Novakovic, CAIA, CFA, Managing Director, Educational Programs

Retail investors are wading into private markets, drawn by the shimmer of endowment-level returns.

But when liquid wrappers meet illiquid assets, even a small mismatch can make waves.

In this month’s Chronicles of an Allocator, author Steve Novakovic, Managing Director, Educational Programs wades into the rising tide of “retail alts” and breaks down what you need to watch for.

Spoiler: Not every waterfall ends in a pool.

Authored by Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP, Managing Director of Global Content Strategy

Superhero Summer is back with The Fantastic Four, Superman, and... private credit?

With nearly $3 trillion in AUM and growing fast, private credit is looking like the asset class equivalent of a box-office hit. Let’s just hope credit risk doesn’t eat the world as bubbles, bad deals, and questions begin to mount.

So, in the latest issue of Chronicles of an Allocator, Aaron Filbeck, Managing Director of Global Content Strategy, surfed through four real questions heard from the road over and over again. 

Call them the Filbeck Four. Less cape, more credit. And each one unpacks a real-world pressure point in private credit today.

Authored by John L. Bowman, CEO, CAIA Association

Authored by Nick Pollard, Managing Director, CAIA APAC, and Joey Chan, CFA, FCCA, CPA, Director, External Relations, CAIA APAC

The penguins of Heard and MacDonald Islands may be unfazed by U.S. tariffs, but for investors across Asia, it’s a very different climate.

When the U.S. launched its 2025 tariff wave, the ripple effect hit Asia fast. Exits slowed. Valuations got foggy. And allocators were left asking: now what?

In the latest issue of Chronicles of an Allocator, Nick Pollard, Managing Director, CAIA APAC and Joey Chan, Director, CAIA APAC External Relations, unpack how tariffs are shaking up private markets across Asia by stoking volatility, complicating exits, and reshaping opportunity sets in PE, VC, credit, real estate, and more.

Authored by Laura Merlini, CAIA, CIFD, Managing Director, EMEA and Eva Katsoulakis, UniFi by CAIA™

A financial revolution is unfolding. By 2030, women will control 38% of investable assets—a staggering $30 trillion in financial power. But here’s the real question: Is the industry ready?

In this edition of Chronicles, co-authors Laura Merlini, CAIA, CIFD, Managing Director, CAIA EMEA and Eva Katsoulakis, UniFi by CAIA™ explore how women are reshaping wealth management, the rise of gender-lens investing, and why female financial advisors are uniquely positioned to lead. 

Authored by Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP, Managing Director of Global Content Strategy

Can investment models actually help—or are we all just playing a high-stakes game of financial Tetris? The Collaborative Model isn’t just another framework, it’s a method asset owners have used to reduce costs, improve returns, and collaborate strategically (without giving up control!). But how does it really work? And how does it compare to the Total Portfolio Approach?

In the latest edition of Chronicles, Aaron Filbeck, Managing Director of Global Content Strategy breaks it all down—along with delving into how CalSTRS, OCERS, and others are using this model to rethink investing.

Authored by Steven Novakovic, CAIA, CFA, Managing Director, Educational Programs

Authored by John L. Bowman, CEO 

You’ve probably heard us say often, “everything is an alternative.” What we’re really getting at is the world of investment management is shifting fast. It’s getting harder to neatly label asset classes, products, or liquidity profiles—it’s all starting to blur.

As we step into 2025, we’re focused on helping you navigate the “great convergence” — a transformational shift reshaping business models and investment processes. 

In this issue of Chronicles, CAIA CEO, John L. Bowman, CFA breaks down this emerging trend:

• What’s driving the blurring of lines between traditional and alternative assets?
• Why the old benchmarks and categories may no longer make sense.
• And what it all means for you, whether you're managing portfolios or preparing for tomorrow’s capital markets.

The shift is here, and the implications are bigger than you think. 

Ready to explore what’s next? 

Authored by Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP, Managing Director, Global Content Strategy