On this episode of Dakota Live!, Robert Morier sits down with Chris Brimsek, Founder and Managing Partner of CAB Advisory, for a deep discussion on one of the most important—and underexplored—topics in private markets: how great investment firms are built. Chris advises founders and senior leadership teams across private equity, venture capital, real estate, infrastructure, private credit, and GP solutions. His work focuses on the organizational, strategic, and human capital questions that often determine whether a firm can scale, attract talent, retain LP trust, and sustain long-term success. This conversation goes beyond traditional manager research and due diligence. Instead of focusing solely on performance, Robert and Chris unpack what allocators, CIOs, and GP staking firms should really be evaluating beneath the surface. Key themes include operational alpha, GP seeding and staking, succession planning, team development, and the future of fundraising in alternatives. Chris shares why the best firms are focused on making investors, not just making investments, and why this mindset increasingly separates enduring franchises from firms that struggle to scale. Topics include: • Why operational alpha matters more than ever in private markets • How LPs should evaluate manager quality beyond track record • What allocators miss in manager research and due diligence • The evolution of GP seeding and GP staking as an asset class • Key underwriting questions minority investors should ask GPs • Succession planning and leadership transitions inside investment firms • Why private equity is still underinvested in talent development • Lessons private markets can borrow from professional sports teams • Delegation, decision-making, and building next-generation leadership • The future of fundraising across institutional and wealth channels • Emerging trends in private markets, alternative investments, and GP growth strategies Chris also shares insights from his experience at The Carlyle Group, where he worked closely with senior leadership and helped oversee large-scale investment platforms, giving him a unique perspective on how top-performing firms evolve from successful partnerships into scalable businesses. For allocators, asset managers, placement professionals, and anyone involved in manager selection, this episode offers a rare look at the hidden drivers of long-term firm success. If you work in private equity, venture capital, hedge funds, institutional investing, or alternatives, this conversation is essential listening.
