The Re-Up

August Advisors
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A podcast about the business of raising and allocating capital in private markets. In private markets, a re-up is the decision to recommit — the ultimate signal of trust. Hosted by Katie Fasken of August Advisors.

Episodes

  1. 16h ago

    Elizabeth Bell from Hamilton Lane on why the real estate reset is a buying opportunity

    Elizabeth Bell is Co-Head of Real Estate at Hamilton Lane, where she helps run a $114B real estate program and invests $2.5–3B a year across funds, secondaries, and co-investments. She has spent about 20 years in real estate private equity, much of it on the GP side before moving to the allocator's seat. Katie and Elizabeth talk about why institutional investors see today's reset as a chance to buy, the sectors leading and lagging the recovery, and where she sees opportunity, from data centers to necessity-based retail. They also get into the "re-emerging manager" and the discipline it takes to back one. Her test for a re-up after a hard cycle: not whether everything went right, but how the manager behaved when it didn't. About Our Guest:Elizabeth Bell is a Managing Director and Co-Head of Real Estate on the Real Assets team at Hamilton Lane, where she leads due diligence across primary, secondary, and co-investment opportunities in real estate and sits on the Real Asset Investment Committee. Hamilton Lane's real estate program spans roughly $114B, deploying $2.5–3B a year across funds, secondaries, co-investments, and joint ventures. She has spent about 20 years in real estate private equity. Before joining Hamilton Lane in 2022, she was a Managing Director at Jaguar Growth Partners, leading Latin American real estate private equity investments. Earlier roles included Investment Manager on Aberdeen Asset Management's Property Multi-Manager team, Vice President at Equity International investing in emerging-markets real estate companies, Associate at JER Partners, and investment banking analyst at Deutsche Bank. Elizabeth holds an MBA from the Wharton School at the University of Pennsylvania and an A.B. from Princeton University. About The Re-Up:The Re-Up is a podcast about the business of raising and allocating capital in private markets — and how that work can be done better. In private markets, a re-up is the decision to recommit to a manager's next fund: the ultimate signal of trust. Each episode is a candid conversation with the LPs, GPs, and advisors who have built exceptional track records — the conversations that usually happen over dinner after the conference, not the ones on stage. Hosted by Katie Fasken, founder of August Advisors, a Toronto-based placement firm connecting exceptional private investment managers with institutional capital.

    Elizabeth Bell from Hamilton Lane on why the real estate reset is a buying opportunity

  2. Jul 21

    Tom Kapsimalis from CPP Investments on winning in a $220B secondaries market

    Tom Kapsimalis is Managing Director and Head of Secondaries at CPP Investments, where he leads the team that buys and sells private equity stakes and continuation vehicles, deploying roughly $3–5B a year. He has worked in secondaries since the market traded barely $10B a year; in 2025 it cleared $220B, and he has been part of that rise from the start. Katie and Tom talk about how CPP decides where it has a real right to win, why alignment is the first thing he tests in a continuation vehicle, how a single secondary can become a years-long relationship with a manager, and where the market heads next. His take on the "CV squared": the rationale for the deal matters as much as the price. About Our Guest:Tom Kapsimalis is Managing Director and Head of Secondaries at CPP Investments, based in Toronto. He leads the team responsible for the firm's private equity secondaries program — across LP-led and GP-led transactions, single- and multi-asset continuation vehicles, and structured secondaries — and oversees portfolio sales for CPP Investments' private equity department. He began his career in 2008 in investment banking in New York, working in syndicated leveraged finance through the financial crisis, before moving to the buy side and into the secondaries market in its early days. He has been part of the secondaries business at CPP Investments through its growth from a nascent strategy into one of the largest segments of private markets, where the firm now deploys an estimated $3–5B a year. About The Re-Up:The Re-Up is a podcast about the business of raising and allocating capital in private markets — and how that work can be done better. In private markets, a re-up is the decision to recommit to a manager's next fund: the ultimate signal of trust. Each episode is a candid conversation with the LPs, GPs, and advisors who have built exceptional track records — the conversations that usually happen over dinner after the conference, not the ones on stage. Hosted by Katie Fasken, founder of August Advisors, a Toronto-based placement firm connecting exceptional private investment managers with institutional capital.

    Tom Kapsimalis from CPP Investments on winning in a $220B secondaries market

  3. Jul 7

    Jack Glover from Incline Equity Partners on why size is the enemy of returns

    Jack Glover is the Founder and Managing Partner of Incline Equity Partners, a Pittsburgh-based private equity firm in the middle market, with a flagship fund just under $2B. He has been investing for more than 30 years — and many of the investors who first backed him are still with him today. Katie and Jack talk about why he refused to chase a bigger fund, the belief that size is the enemy of returns, the age-12 loss that shaped his approach, and how Incline seeks to create value once it owns a business. His take on continuation vehicles: he looks to put his own money into single-asset deals where the GP rolls 100% of their carry. About Our Guest:Jack Glover is the Founder and Managing Partner of Incline Equity Partners, a Pittsburgh-based private equity firm focused on the middle and lower-middle market across services, value-added distribution, and specialized light manufacturing. Over a 30-plus-year career, he has built Incline into a widely recognized middle-market buyout firm. Before founding Incline, Jack spent 15 years at PNC Equity Partners. He began his career at Westinghouse Credit Corp. and went on to the investment banking division of Wheat First Securities. Today Incline manages a flagship fund of just under $2B alongside its Elevate and Ascent funds, which keep the firm active at the smaller end of the market. Jack holds a B.S. with honors from Duquesne University, where he is a Distinguished Alumnus, and an MBA from the Booth School of Business at the University of Chicago. A proud native of Pittsburgh, he founded the Incline Foundation, which supports education in under-invested communities. About The Re-Up:The Re-Up is a podcast about the business of raising and allocating capital in private markets — and how that work can be done better. In private markets, a re-up is the decision to recommit to a manager's next fund: the ultimate signal of trust. Each episode is a candid conversation with the LPs, GPs, and advisors who have built exceptional track records — the conversations that usually happen over dinner after the conference, not the ones on stage. Hosted by Katie Fasken, founder of August Advisors, a Toronto-based placement firm connecting exceptional private investment managers with institutional capital.

    Jack Glover from Incline Equity Partners on why size is the enemy of returns
  • 3 Episodes

About

A podcast about the business of raising and allocating capital in private markets. In private markets, a re-up is the decision to recommit — the ultimate signal of trust. Hosted by Katie Fasken of August Advisors.

Information

  • Creator
    August Advisors
  • Years Active
    2026
  • Episodes
    3
  • Rating
    Explicit
  • Copyright
    © 2026 The Re-Up
  • Show Website
    The Re-Up