A version of this article first appeared in CNBC’s Inner Wealth Newsletter, Robert Frank is a weekly guide for high-net-worth investors and consumers. Sign up to receive future versions directly to your inbox. Elizabeth Lilly founded her own asset management company in 2017, realizing her dream of thirty years in manufacturing. She has worked as an equity analyst since her 20s, carrying a notebook of works that envisions the look of her future company and writes her lessons as hard as value investor Robert Bruce and Turnaronound expert Jack Byrne from Powerhouses in finance. Less than two years later, Lilly gave up after getting an offer that one of her clients could not refuse. The Pohlad family, most notably the owner of the Minnesota Twins of Major League Baseball, needs a chief investment officer to oversee its massive portfolio, spanning public equity and direct investment in HealthTech and manufacturing. Lilly retains the release of her newly discovered independence in working in the home office, but she believes it is worth it to expand her horizons. “I was working on small public stocks, and I weighed that (private equity funds, direct investment) on the trade-offs,” she said. “I thought to myself, ‘This is a little bit in my life that I don’t know when to get this opportunity again.” Lily is one of the more women who run the famous home office – the private investment weapon for wealthy families. Last summer, James Dyson appointed Jane Simpson as chief investment officer of his family office Weybourne. In 2022, billionaires Michael Dell and Sergey Brin were CIOs of their home office, Alisa Mall and Marie, respectively. Young. Lily said: “I was just surprised by the number of female CIOs there, which was great. ” “There has been a huge change compared to the job I did in 1985. “Eli Lilly said women may play this role because generally women investors are more conservative in financial decision making. She noted that home offices have patient capital, deploy funds only when the right opportunity arises, and measure performance in years rather than a quarter. “I think it’s a temperament issue,” she added. “If you look at all the research, female investors will be more even and their investment decisions are less impulsive. “Women hold 29% of administrative positions in home offices, more than U.S. companies and financial departments like private equity, according to a survey by Botoff Consulting. But only 16% of the 433 companies surveyed reported female CIOs. The four female CIOs who spoke with CNBC said their tight network of connections made up for the figures lacking in the space. S-Cubed Capital’s CIO Margo Doyle is part of the WhatsApp group for women CIOs and hosted dinners and cocktail parties in the San Francisco Bay Area. CIO Kristin, Len Blavatnik’s Access Industries Gilbertson describes the home office industry as a university. “When you assign external managers, it’s a team sport,” she said. “We share references, experiences, and we use each other’s expertise. “Gilbertson joined Blavatnik’s home office in 2013 after spending most of her career on male-dominated nikes: overseeing donations from Stanford and the University of Pennsylvania, managing pension investments from the World Bank, and working on economic reforms in the former Soviet Union. Gilbertson said of her time with Blavatnik, “To be honest, these are a few times in my career that I didn’t realize my women.” “Gilberson said her donation experience was hunted down. Blavatnik, an investor known for acquiring bold bets like Warner Music, said his right person, Access CEO Lincoln Benet, wanted a CIO to build a low-risk, diversified external funding portfolio. Like Eli Lilly, Builders Vision’s Noelle Laing once saw her as a client now. When her colleagues managed impact investments at Cambridge, she met Walmart Heir Walton, who joined his home office in 2019. “It’s really fun to rely on a principal’s vision when you go from serving many clients to serving one,” she said. “You can really focus.” “On the other hand, Doyle left her Cambridge colleague in 2014 with the goal of working for the first generation of single-family positions with at least $1 billion in assets. A year ago, she had moved from Boston to San Francisco and wanted to build a home office from scratch. “You drink water here and get entrepreneurship.” Doyle approached a CIO in a single-family office she knew, who introduced her to Mark Stevens, a billionaire venture capitalist and former managing partner at Sequoia Capital. After five months of discussions, not only discussing investment strategies, but also communication styles and personal goals, Doyle was hired to lead S-Cub Capital’s portfolio. For example, Stevens and his wife Mary signed a donation commitment vowing to contribute most of their family’s wealth to philanthropy. “When you enter a senior position in the home office, it’s a very personal relationship,” she said. Doyle advises aspiring home office CIOs to prepare for adaptation, not only in managing different types of assets, but also in working with future generations. “You will definitely have multiple risk tolerances, liquidity needs, durations,” she said. ” “Considering a range of inputs that affects your portfolio is an important feature of your development in your career. ”
(LR), Elizabeth Lilly of Pohlad Companies, Kristin Gilbertson of Access Industries and Margo Doyle of S-Cubed Capital
by Elizabeth Lilly; by Lauren Maxwell; by Margo Doyle
A version of this article first appeared in CNBC’s Inner Wealth Newsletter, Robert Frank is a weekly guide for high-net-worth investors and consumers. Sign up To receive future versions, go directly to your inbox.
Elizabeth Lilly founded her own asset management company in 2017, realizing her dream of thirty years in manufacturing. She has worked as an equity analyst since her 20s, carrying a notebook of works that envisions the look of her future company and writes her lessons as hard as value investor Robert Bruce and Turnaronound expert Jack Byrne from Powerhouses in finance.
Less than two years later, Lilly gave up after getting an offer that one of her clients could not refuse. The Pohlad family, most notably the owner of the Minnesota Twins of Major League Baseball, needs a chief investment officer to oversee its massive portfolio, spanning public equity and direct investment in HealthTech and manufacturing.
