FEG Insight Bridge

In this episode, Greg Dowling sits down with Torsten Slok, Partner and Chief Economist at Apollo Global Management, to break down the forces shaping markets in 2026. They discuss the surprising resilience of the global economy in 2025, the transformative power of AI and the persistence of a K-shaped economy. Torsten also weighs in on private credit’s growth, China’s structural challenges, Europe’s fiscal pivot and the global industrial renaissance reshaping investment opportunities. He also reveals what may be next for inflation and the Fed—and uncovers the hidden risks that could shake up markets this year.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

Host Greg Dowling sits down with Karthik Ramanathan, former Director of the U.S. Treasury’s Office of Debt Management, for a behind-the-scenes look at how the Treasury and the U.S. Federal Reserve intersect. From managing trillions in debt issuance to coordinating with the Fed around day-to-day policy execution as well as crisis event triage, Karthik shares firsthand insights into how Treasury decisions shape U.S. financial stability and global market dynamics. The conversation covers auction strategy, debt management, and the delicate balance between independence and collaboration—especially in times of economic and political stress.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

In this episode, host Greg Dowling welcomes Josh Harris—founder of 26North, co-founder of Apollo Global Management, and managing partner of the Philadelphia 76ers, New Jersey Devils, and Washington Commanders. Josh reflects on his journey from Wall Street to the world of sports, sharing lessons on building enduring institutions, transforming franchises into global media powerhouses and leading with trust and purpose. The conversation explores how finance, philanthropy and legacy intersect—and why the future of investing is more human than ever.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

In this episode, host Greg Dowling welcomes Sean Kammann, Equity Portfolio Manager, Partner and Senior Managing Director with Wellington Management to discuss the shifting dynamics of equity markets. While the “Mag 7” stocks have dominated headlines, the conversation focuses on opportunities among smaller-cap stocks. Sean discusses the persistence of the small-cap premium, the potential impact of higher growth, inflation and interest rate changes on smaller versus larger companies, as well as the merits of an equal-weighted small-cap portfolio. The discussion highlights the importance of active management, fundamental research, and global diversification in identifying long-term value across sectors and geographies.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

In this episode, host Greg Dowling speaks with Paul Froning and Michael Feinstein from Focus Healthcare Partners, a firm dedicated to investing in senior housing and healthcare-related properties. Their conversation explores how demographic shifts and changing consumer expectations are reshaping the senior living industry for the better. Paul and Mike share their investment philosophy, which centers on strategic partnerships, operational improvements and the critical importance of meaningful experiences and better health outcomes for residents.  You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

In this episode of FEG’s Insight Bridge Podcast, Greg Dowling speaks with Peter Kolchinsky, Managing Partner at RA Capital. Together they delve into the drivers and details of today’s biotech industry, how to foster innovation and why Peter is optimistic about biotech’s ability to address autoimmune disorders. Peter shares RA Capital’s investment approach, which emphasizes patience, rigor and selectiveness across healthcare and life science sectors.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

In this episode of FEG’s Insight Bridge Podcast, Greg Dowling chats with Dave Thomas, founder of Atalan Capital Partners. They discuss the challenges and opportunities in the hedge fund industry, the impact of structural and cyclical headwinds and Atalan's valuation-based investment approach. Dave also shares his insights on emerging trends like generative AI and European defense spending, and why he believes Atalan’s long-short methodology may be especially beneficial today.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

In this episode of the FEG Insight Bridge Podcast, Greg Dowling sits down with Cheryl Brandon and Kamal Toor, the founders and managing partners of Kinterra Capital. They discuss the transformative impact of AI on the mining industry and the critical role of essential minerals like copper, nickel, magnetite, and manganese in today’s and tomorrow’s economy. Cheryl and Kamal share their insights on using private equity strategies to access development stage projects, the importance of “friendshoring” to secure critical supply chains, and their commitment to strong environmental practices. Throughout the episode, they offer valuable perspectives on navigating geopolitical factors, mitigating risks, and the essential yet sometimes underappreciated role of specific minerals in the ongoing expansion of clean energy.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

In this episode of the FEG Insight Bridge Podcast, Greg Dowling sits down with Jack O'Callahan, a member of the legendary 1980 "Miracle on Ice" U.S. Olympic hockey team. Jack shares his incredible journey from playing street hockey in Boston to becoming part of perhaps the greatest upsets in sports history. He recounts the intense preparation and team dynamics that led to the victory over the Soviet Union, an event famously dramatized in the Disney movie "Miracle". Jack also discusses his transition from the Olympics to the NHL and his eventual move into the investment business. Throughout the episode, Jack offers valuable insights on leadership, teamwork, and the importance of integrity, both on and off the ice.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

In this episode of the FEG Insight Bridge Podcast, Greg Dowling sits down with Ali Akay, Founder and CIO of Carrhae Capital and experienced emerging markets investor. Ali shares his journey from central bank consultant to founder of a successful investment firm, embodying his personal mantra, "Struggling, I emerge." His perspective on macroeconomic factors, political and currency risks, and the benefits of country and currency diversification provide a roadmap for navigating the complexities and considerable opportunities inherent in these markets.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

In March’s episode of the FEG Insight Bridge Podcast, Greg Dowling talks to Jason Fowler about what it takes to develop the mindset of a winner. From his devastating motocross injury as a teenager to his path to overcoming obstacles, to his success as an adaptive sports champion, coach and mentor, Jason’s search for his “true north” can help and inspire all of us. Jason believes that a combination of factors is common to all successful initiatives with: the need for physical health, clear vision, the ability to adapt thought processes to life’s inevitable ruts, and an accountability coach.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

In the February episode of the FEG Insight Bridge Podcast, Malabar Investments Advisors Sumeet Nagar and Akshay Mansukhani join FEG CIO Greg Dowling in an in-depth discussion. This month they analyze the differentiating quality of the Indian market versus other emerging markets and the importance - and benefit - of a comprehensive understanding of market liquidity. A history of entrepreneurial spirit, low-cost structure and an attractive mix of domestic and offshore capital have combined to make Indian private markets worthy of attention.Tune in for this in-depth discussion of the opportunities and risks within India's evolving and growing private markets.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

Discover a fresh perspective: Ben Inker of GMO examines market trends and potential investment strategies for 2025.On this episode of the FEG Insight Bridge Podcast, we are joined by Ben Inker, Co-Head of Asset Allocation and Portfolio Manager at GMO, in a conversation exploring market trends and investment strategies for 2025. Ben and FEG CIO Greg Dowling discuss the impact of market concentration, the role of quality and value in portfolios, and the effects of passive investing. Ben provides insights into the performance of U.S. large cap growth stocks, the state of Japanese small caps, and the potential importance of diversification in uncertain times. Ben also shares his career journey at GMO, highlighting lessons learned from industry leaders like Jeremy Grantham and David Swenson.Tune in for key insights on market concentration and the evolving dynamics of today's investment landscape.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

On this episode of the FEG Insight Bridge Podcast, CIO Greg Dowling welcomes Max Belmont, Portfolio Manager and Senior Research Analyst at First Eagle Investments. Max discusses the growing interest in gold amid global economic uncertainties, exploring its role as a potential hedge against inflation and currency devaluation. The discussion also covers the dynamics of gold mining investments, the impact of central bank policies, and the comparison between gold and digital assets like Bitcoin.Tune in for key insights on the enduring allure of gold and exploration of its strategic importance in today's investment landscape.Key TakeawaysGold is prized as a potential safe haven due to its stability and limited supply. Unlike other commodities, gold does not corrode or degrade, maintaining its value over long periods. This makes it a potential hedge against economic instability and currency devaluation.The historical context of gold, including its role during periods of hyperinflation and economic turmoil, has influenced its perception as a stable investment. Central banks have shifted from being net sellers to net buyers of gold, especially after the 2008 financial crisis and recent geopolitical tensions, such as the Russia-Ukraine conflict.While both gold and cryptocurrencies like Bitcoin are seen as alternatives to traditional financial assets, they behave differently. Gold is a "risk-off" asset, providing stability during market downturns, whereas Bitcoin is more volatile and behaves like a "risk-on" asset, similar to growth stocks.First Eagle's approach to investing in gold includes holding physical gold and investing in gold mining companies. The investment strategy focuses on valuation, resilience, duration, and optionality to ensure a margin of safety and long-term value.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

On this episode of the FEG Insight Bridge Podcast, CIO Greg Dowling welcomes Howard Smith, Partner at Indus Capital Partners and Portfolio Manager for the Indus Japan Strategies. Howard shares his extensive experience investing in Japan, discussing the country’s economic resurgence, corporate reforms, and strategic positioning as an alternative to China. The conversation covers Japan’s role in high-tech industries like semiconductors and robotics, the impact of Abe’s three arrows policy, and the evolving landscape of corporate governance and M&A in Japan. They also delve into the yen carry trade unwind and its global implications, as well as the potential takeover of Seven & I Holdings by Canadian company Couche-Tard.Tune in for key insights on Japan’s economic transformation and investment potential.Key Takeaways:Japan is experiencing renewed interest from investors after decades of stagnation. This resurgence is driven by corporate reforms, a strong manufacturing base, and Japan’s strategic positioning as an alternative to China.Japan offers significant opportunities in high-tech industries such as semiconductors and robotics. The country benefits from lower valuations compared to Western markets and plays a crucial role in the global tech supply chain.Japan’s corporate governance has improved, with increased board independence and better capital allocation. The potential takeover of Seven & I Holdings by Couche Tard highlights Japan’s evolving openness to foreign investment and corporate control.The yen carry trade unwind caused significant market volatility. Additionally, Japan’s high public debt levels are sustainable due to low interest rates and the majority of debt being held by the central bank. However, the terms of trade and reliance on energy imports pose ongoing risks.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

On this episode of the FEG Insight Bridge Podcast, CIO Greg Dowling welcomes Oliver Moses, Managing Partner of WindRose Health Investors. Moses shares his journey into healthcare investing and the evolution of private equity's role in the sector. The two discuss the rapid growth of healthcare, post-COVID challenges like labor shortages, and how technology, including AI, is driving efficiency. Moses also addresses criticisms of private equity in healthcare and highlights WindRose's investments, including a case study on AI nurse assistant Eleanor. The episode wraps up with a look at Moses’ personal mission to use investment strategy to improve and provide free healthcare access for 30,000 children annually in Liberia through Haven Care.Tune in for key insights on healthcare's future and private equity's role in shaping it.Key TakeawaysHealthcare is a rapidly growing sector facing significant challenges such as reimbursement risks, labor shortages, and rising costs.AI has the potential to significantly improve efficiency and reduce costs in healthcare, as demonstrated by applications like AI-driven revenue cycle management and a large language model nurse, named Eleanor.Post-COVID, healthcare companies face significant labor shortages and cost challenges, highlighting the need for innovative solutions to improve efficiency and manage expenses.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

On this episode of the FEG Insight Bridge Podcast, CIO Greg Dowling welcomes Dan Ivascyn, CIO of PIMCO, as he reflects on his 26-year career at PIMCO, from trading structured products to leading their portfolio management. Dan discusses the firm’s evolution, the shift from traditional to alternative fixed income strategies, and the current appeal of high-quality bonds. Hear insights on PIMCO’s secular forums, Federal Reserve policies, and the potential impact of political scenarios like a Harris vs. Trump presidency. The episode also covers global volatility, debt levels, and emerging market debt opportunities. Don't miss this conversation as we go inside the curve. Key TakeawaysDan Ivascyn details how PIMCO has evolved from a focus on traditional fixed income to incorporating alternative strategies, adapting to the complexities of global markets over the past 26 years.This episode explores the significant shift in the fixed income industry from high interest rates to a current environment of higher nominal yields, including a return to traditional fixed income opportunities and the comparative value of private credit.Dan Ivascyn shares his views on the Federal Reserve’s performance and expectations regarding future rate cuts, the impact of political factors on investing, and the broader implications of global economic volatility and national debt levels.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

Join FEG CIO Greg Dowling and Scott Harlan, Managing Partner and Founder of Rockland Capital, as they discuss the power industry's critical role in supporting the digital and AI-driven economy. From meter reader to private equity principal, Scott shares his journey and insights on energy challenges, the need for a balanced energy mix, and the shift to private sector investments.Scott addresses the power needs of AI-driven data centers, battery technology, and the importance of gas-fired plants. He explores the impact of politics on energy policy and highlights Rockland Capital's strategy in developing and improving energy projects.Tune in for insights on navigating the evolving power industry and the role of private equity in driving the energy transition.Key TakeawaysHarlan highlights the necessity of balancing the energy mix, including traditional and renewable energy sources with battery storage. While more new power generation needs to be built, another huge component is extending the life of existing plants.The shift from regulated utilities to the private sector is explored, with Harlan explaining how the private sector's desire for better efficiency and risk management drives investment.Harlan delves into the power requirements of data centers, especially those driven by AI, and the challenges of connecting these facilities to the grid, proposing ideal power solutions to ensure reliability and meet ESG goals.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

Join FEG CIO Greg Dowling and Richard Bruce, founder of Trinity Street Asset Management, as they explore the untapped potential of European markets. Discover why European equities are often overlooked compared to their U.S. counterparts, and explore diverse, undervalued sectors like tech giants ASML and ARM. Bruce discusses the impact of the "Magnificent Seven" in the U.S., the differences in regulatory environments between the U.S. and Europe, and Europe’s focus on data privacy. Also, understand how geopolitical events, such as the Russian invasion of Ukraine, shape market dynamics. And finally, Bruce explores luxury iconic brand strategies, revealing the secrets behind LVMH's success and the contrasting approaches of Louis Vuitton and Gucci. Tune in for an analysis of European equities and discover its treasure. Key Takeaways: Although U.S. tech giants dominate headlines, European companies like ASML and ARM play crucial roles in the tech industry, particularly in AI development.Bruce advocates for a selective, bottom-up approach to investing, identifying individual companies poised for long-term growth rather than relying on broad indices.Countries like Switzerland, the UK, and Denmark have led the path in pharmaceutical innovation, with companies like Roche, Novartis, Glaxo, and Novo Nordisk making significant strides, particularly in developing GLP-1 obesity drugs. Bruce discusses the challenges and adaptations within Europe, such as Germany’s energy transition and the automotive industry’s shift towards electric vehicles. He notes the competitive threat from Chinese manufacturers like BYD. You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.

Join FEG CIO Greg Dowling and FEG CEO Alan Lenahan, for a discussion of “Whipsaw Wisdom.” In this episode, we uncover investment strategies, from historical trends to the landscape of today's markets. Discover FEG's approach to catering to the diverse needs of clients, ensuring resilience in times of change. Explore the evolution of asset management trends, the business model driving FEG forward, and learn how culture helps shape success. Don't miss out on these insights from FEG’s own CEO! Key takeawaysDespite the dynamic nature of the investment industry, FEG maintains a long-term philosophical approach to investing. This approach prioritizes delivering exceptional investment experiences for clients and avoids contemporary fads. FEG emphasizes understanding client's needs and governance structure before tailoring their services. Rather than offering specific business lines like OCIO or consulting, FEG views services as a spectrum that can be customized to meet each client's unique needs. This client-centric approach ensures FEG delivers value to clients by aligning capabilities with clients’ best interests.The investment landscape has evolved, particularly with the decline in alpha generation from traditional investment strategies due to factors like increased regulation and information accessibility. FEG highlights the shift towards private markets, where opportunities exist for informational edge and alpha generation. As CEO, Lenahan emphasizes the importance of focusing on people and culture. He discusses the significance of maintaining a shared vision and culture within the organization, particularly as it grows. Alan's approach involves actively engaging with both clients and team members, listening to their needs, and aligning FEG's capabilities to deliver exceptional results. He also emphasizes the importance of combining technical skills with strong communication and interpersonal skills for aspiring leaders in the industry.You can find every episode of FEG Insight Bridge podcasts in one place and sign up to receive our other publications here.