Tony Davis is the CEO and Chief Investment Officer of Inherent Group, a value-oriented hedge fund that invests across the capital structure and uses ESG factors to source and underwrite its investments. Prior to founding Inherent Group, Tony was co-founder, President and portfolio manager at Anchorage Capital, a multi-billion dollar hedge fund. Our conversation covers Tony’s early career experience at Goldman Sachs, key lessons from twenty years at Anchorage Capital, his retirement and philanthropic work in impact investing that led to the formation of Inherent Group.  We then turn to his activities at Inherent, including his rationale for taking in outside capital, sourcing longs and shorts, incorporating E, S and G factors in underwriting, quantifying sustainability, constructing the portfolio, and engaging with portfolio companies.  We close with a few investment examples, potential opportunities in distressed debt, and tips for allocators researching ESG managers. Learn More Read the Transcript Subscribe to the Capital Allocators Blog or Monthly Mailing List Don't Subscribe, but Let Us Know Who You Are Write a review on iTunes Follow Ted on twitter at @tseides Review past episodes of the Podcast

Richard Lawrence is the Chairman and Executive Director of The Overlook Group, a $5 billion investment organization focused on Asian equities that Richard founded in 1991. Over the past quarter-century, Overlook developed and implemented disciplined investment and business philosophies that interconnected to drive extraordinary results for its partners. Overlook has compounded capital at an annualized 14.5%, outperforming its benchmark by an insane 9% per annum. But that’s not all, as Richard would proudly tell you himself, the capital weighted return of the average investor in Overlook is nearly identical to the time weighted return over any period of time – a rare feat in the money management industry. Indeed, today’s asset base is the result of $4 billion of investment gains on top of $1 billion in contributed capital. Our conversation starts with a look at investing in Asia in Overlook’s early days and walks through the particulars of the approach Richard takes to investing and running his business, including attractive investment attributes, management integrity, portfolio construction, selling discipline, and China Yangtze Power - the only stock the firm supersized in an SPV in its history. We discuss Overlook’s long-held cap on subscriptions and periodic reductions in its management fee, two business philosophies that Richard believes have been key drivers of Overlook’s success. If you enjoyed my conversation with Tom Russo, you won’t want to miss this one with Richard. Learn More Read the Transcript Subscribe to the Capital Allocators Blog or Monthly Mailing List Don't Subscribe, but Let Us Know Who You Are Write a review on iTunes Follow Ted on twitter at @tseides Review past episodes of the Podcast