Alan Forman is the former Director of Real Estate at the Yale Investments Office, where he spent 31.5 years before retiring last year. For three decades, Alan was one of the core four at Yale alongside David Swensen, Dean Takahashi, and Tim Sullivan. In his next chapter, he hung a shingle named Blue Orchard Capital, where he works with real estate managers to help them understand best practices in the industry. In our conversation, Alan shares rare insight into Yale’s investment operation and, in particular, highlights the consistent and essential importance of people and alignment in Yale’s strategy. We walk through how he applied the process to the real estate asset class and how he’s looking to help the next generation of great real estate managers in his post-Yale endeavors. For full show notes, visit the episode webpage here. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

Today's sponsored insight is with Adam Karr, the President and Portfolio Manager at Orbis, a $35 billion global equity manager founded in 1989 by legendary Fidelity alum Allan Gray. Orbis blends unique business practices with a long-term intrinsic value investment model designed to invest differently. Our conversation dives into Orbis’ business practices intended to create alignment, including a fee structure with rebates and a permanent ownership model. We then go through the investment approach that features thirty-five analyst shadow portfolios to bring data and independent thinking to portfolio construction. Orbis’ model has rich lessons for managers and allocators alike. For full show notes, visit the episode webpage here. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership