Stan Miranda - Bain Meets the Yale Model at Partners Capital

Stan Miranda is the Co-Founder and Chairman of Partners Capital, a global OCIO with $50 billion under management.  Stan was previously a longtime director at Bain and chairman of their Worldwide Executive Committee and a co-founder of Evolution Global Partners, a venture capital firm affiliated with Kleiner Perkins and TPG.     I was interested to talk to Stan about the very interesting DNA of Partners, and how they engage with their very talented clients, many of whom are private equity partners, endowment heads, and substantial family offices. Stan has thought deeply about the Endowment Model and has written many excellent white papers for Partners, some of which we discuss.  We cover the upcoming energy transition and why the route is not Net Zero, how he combined strategic thinking and analysis with the endowment model into the playbook they used to start Partners, how private equity partners manage their own personal money, and the transitions they go through in their own lives, and how Stan thinks about alternatives to alternatives.  Please enjoy my excellent conversation with the engaging Stan Miranda.   NOTE:  This podcast is for educational and entertainment purposes only.  Anything said by the guests or host should not be construed as legal or investment advice.  Thanks for listening.   FULL BIO: Stan Miranda founded Partners Capital in 2001 and is Chairman of the firm's Board of Directors. He was previously the Chief Executive Officer from 2001 until June 2020 and also held the Chief Investment Officer position until 2016. He is a member of the firm's Global Investment Committee and has been the senior advisor to the Private Equity asset class team since the firm's founding. Previously, Stan was a Co-Founder and Managing Director of Evolution Global Partners, a Kleiner Perkins, and TPG affiliated venture capital firm; Director of Bain & Company and member of its Worldwide Executive Committee (Chairman in 1997-98); member of Bain & Company's Private Equity Practice and Private Equity Investment Committee member; and Certified Public Accountant. Stan holds an MBA from Harvard.   Partners Captial White Papers:  https://partners-cap.com/insights/   Joe Reilly is a family office consultant, and the host of the Private Capital Podcast as well as the Inheritance Podcast.  FOLLOW JOE: https://twitter.com/joereillyjr WEBSITE: https://www.circulus.co/ INHERITANCE PODCAST:   https://podcasts.apple.com/us/podcast/the-inheritance-podcast/id1644964   If you like this show, then do me a favor and send it to someone you think would enjoy it.  Just copy the link into an email or text.  I appreciate it.   ©2023 Joe Reilly