ATLalts

Andres Sandate
  • 5.0 (3)
  • Investing
  • Updated Weekly

ATLalts is a podcast for independent RIAs and accredited investors interested in learning about alternative investments, private markets, and alternative asset classes through interviews with alternative asset managers, asset owners, and industry practitioners. ATLalts explores venture capital, private equity, real estate, private credit, infrastructure, crypto and digital assets, hedge funds, secondaries, ag- and timberland, and more specialized alternative assets such as specialty finance and collectibles.

  1. The Forgotten Chapter - Operating a Business Like an Institution

    2d ago

    The Forgotten Chapter - Operating a Business Like an Institution

    The Forgotten Chapter: Operating a Business Like an Institution Most conversations in wealth management focus on two events: buying a business and selling one. But the years in between -- the operating chapter -- are where 90% of the value is created or destroyed. In Episode 2 of the ATL Alts Business Owner Masterclass, host Andres Sandate sits back down with Brad Gunter, Founder & CEO of High Point Advisory Group, to explore exactly what it looks like to run a lower middle market business with institutional discipline -- and why RIAs need to be in that conversation. Brad and Andres walk through what good operating infrastructure actually looks like for a $20M-$100M business: accrual accounting, governance cadence, clean entity structure, management depth, and the capital allocation frameworks that separate companies that command premium exit multiples from ones that collapse in diligence. They introduce High Point's four-phase institutional roadmap -- from OpCo stability through portfolio visibility, capital controls, and strategic optionality -- and walk through a nine-dimension Family Office Readiness Assessment that any RIA can use to diagnose where a business owner client truly stands. Brad also shares two war stories from the construction industry where sellers expecting $10-15M at close walked away with a fraction -- because no one had been paying attention to the operating infrastructure. If you manage business owner clients and you're not having this conversation at least quarterly, this episode will show you exactly what you're missing -- and how to fix it. Episode 3 is coming soon: The Exit Plan -- how to prep a business and maximize the liquidity event. Episode Overview Brad and Andres tackle the middle chapter of the business ownership lifecycle -- the operating years. This episode is the most actionable of the three for RIAs: it delivers concrete frameworks, diagnostic tools, and a sequenced roadmap for how to help clients build institutional-grade businesses before ever entering an exit process. Timestamps 0:00 Intro -- Recap of Episode 1 (acquisition as alpha) and the focus of Episode 2 2:35 "The Forgotten Chapter" -- why the operating years are where 90% of value is created or destroyed 4:24 The RIA's role during the hold period: from reactive to integrated, from asset-gatherer to growth partner 5:20 What good operating infrastructure actually looks like: accrual accounting, governance, systems, customer concentration, management depth 7:08 How to introduce a 20-minute business update into a quarterly client review -- and why it makes the RIA stickier 8:09 High Point's role: transaction advisory + fractional CFO/OpCo management for the lower middle market 8:44 The diagnosis step: what does Brad find when he walks into a $50M business? The most common patterns 10:09 Finance as an afterthought: the cash-in-the-bank fallacy vs. institutional reporting discipline 12:12 Owner dependency, lifestyle businesses, and why personal/business expense mixing kills exit value 14:25 Clean entity structure: HoldCo, OpCo, IP co, real estate -- the two core principles (tax efficiency + liability isolation) 16:28 "Flooding the zone" -- how to introduce structural and operational conversations without overwhelming the client 18:14 People vs. systems: why people are 70% of the equation and why AI doesn't change that -- yet 19:55 The five-year operating roadmap: finance first, reduce concentration, build the team, governance and capital allocation framework 23:51 High Point's four-phase institutional roadmap: Phase 0 (OpCo stability) -> Phase 1 (portfolio visibility) -> Phase 2 (capital and decision controls) -> Phase 3 (optionality and scale) 26:12 How the RIA uses the roadmap: introducing the capital allocation conversation, spotting trapped cash, and growing AUM 29:34 Capital allocation discipline: the four doors for free cash flow (acquire, reinvest, distribute, pay down debt) and the written framework with return hurdles 32:07 The nine-dimension Family Office Readiness Assessment -- a scoring tool for RIAs to use with business owner clients 37:14 Cybersecurity as a due diligence risk in lower middle market acquisitions 38:16 Capital allocation deep dive: WACC, return hurdles, and the cadence of deploying cash intelligently 44:05 War story #1: $15M construction deal collapses to $3M cash at close -- no inventory system, no job costing, no way to track COGS 46:30 War story #2: Miami construction company, $5M EBITDA, handwritten invoices only -- four LOIs, zero closed deals, $150K in financial cleanup they refused to pay 48:48 Advisor's role summary: quarterly cadence, quarterback the relationship, bring in High Point for the operational assessment 49:04 High Point's free evaluation offer: value creation plan, minimum 300% ROI on findings 50:37 Three-years-to-exit action plan: who to call and what to do this week Key Takeaways 90% of a business's value is created or destroyed during the operating years -- not at acquisition or exit. The RIA's job is to be in that conversation, not just waiting for the phone to ring when a check clears.The single most common gap in lower middle market businesses: finance treated as an afterthought. No accrual accounting, no monthly close, no reporting package. A $60M business on cash accounting is essentially flying blind.Good operating infrastructure means: accrual-based GAAP financials, monthly reporting, a governance board with documented meeting notes, systems that answer questions without a two-week delay, and a management team that can run the business if the owner disappears for a month.Clean entity architecture -- HoldCo at the top, separate OpCos, IP company, real estate entity -- protects wealth and dramatically simplifies an exit. The two principles: tax efficiency and liability isolation.People are 70% of the equation. AI and systems matter, but you can't automate trust. A new executive who started last week creates enormous buyer risk. Time in seat is irreplaceable.The four-phase institutional roadmap: Phase 0 (OpCo cash flow) -> Phase 1 (portfolio visibility) -> Phase 2 (capital and decision controls) -> Phase 3 (strategic optionality and scale). Most business owners are stuck between Phase 0 and Phase 1.The nine dimensions of the Family Office Readiness Assessment: governance & controls, legal & entity architecture, financial infrastructure, capital allocation discipline, risk management & asset protection, human capital & shared services, tech & data, strategic optionality, and exit readiness.Capital allocation requires a written framework with return hurdles and approval thresholds -- not gut feel. The four doors for free cash flow: acquire, reinvest in the OpCo, distribute to the family, or pay down debt.High Point's current offer: free operational evaluation for businesses referred by RIA partners. Findings have generated minimum 300% ROI for clients. If the owner enters a long-term engagement, any upfront cost is credited back.The RIA's quarterly business review questions: What does adjusted EBITDA look like? What multiple could we achieve today vs. in two years? What's the capital allocation plan? Is there a governance cadence in place?

    51 min
  2. The Hidden Asset Class: A Framework for Buying a Business

    Jun 15

    The Hidden Asset Class: A Framework for Buying a Business

    Introducing our three-part masterclass for RIAs advising business owner clients: From Acquisition to Exit: The Comprehensive Guide for RIAs and Business Owners Part 1 of 3: The Hidden Asset Class: A Framework for Buying a Business Most RIAs treat their client's operating business as a black box — reviewing it only when a liquidity event is imminent. But for business owners in the lower middle market, that operating company often represents 70–80% of total net worth. In this first episode of a three-part Masterclass series, host Andres sits down with Brad Gunter, Founder & CEO of High Point Advisory Group, to explore what it really means to help a client buy a business — and why getting involved early changes everything. Brad brings a rare perspective: post-MBA experience at Deloitte's strategy group, M&A work inside a private equity platform, and a front-row seat to the advisory gap that exists below the $100M business threshold. Together, Brad and Andres walk through how to source acquisition targets (inbound vs. strategic outbound), why a Quality of Earnings report is non-negotiable — and how it can return 100x its cost — and how to structure a capital stack that protects the buyer without leaving the seller dead in the water. Whether you're an RIA looking to position yourself as a true business growth partner, or a wealth advisor trying to have a more integrated conversation with your most sophisticated clients, this episode will give you the frameworks, vocabulary, and war stories to engage at a completely different level. The hidden asset class is hiding in plain sight — and your clients need you to pay attention to it. Tune in for Episodes 2 and 3, where Brad and Andres tackle operating a business for value creation and preparing for a successful exit. Takeaways: The wealth management industry often overlooks the operating company, which constitutes a significant portion of a business owner's net worth, necessitating a more integrated approach to asset evaluation.Institutional-grade oversight for lower middle market businesses involves rigorous financial reporting and proactive monitoring to ensure optimal performance and strategic decision-making.Effective acquisition strategies must be grounded in a disciplined 'Buy Box' framework, ensuring that targets align with the operational strengths and strategic vision of the acquiring company.The Quality of Earnings (QoE) analysis is essential in uncovering hidden financial realities that can dramatically alter acquisition valuations, thereby protecting the buyer's financial interests.Understanding the nuanced landscape of capital financing options, beyond traditional SBA loans and cash purchases, is critical for optimizing the capital structure and mitigating risks associated with acquisitions.Finally, assembling the right advisory team in a structured sequence is paramount; initiating with the RIA, followed by transaction advisors and legal counsel, can streamline the acquisition process and enhance outcomes. To learn more about High Point Advisory Group and how Brad’s team supports the full lifecycle of business ownership — buying, funding, operating, and exiting — connect with him here: https://www.highpointadvisorygroup.com/contact To learn more about Gramercy Park Wealth Advisors, our alternative investment platform called EnduranceX, and how we assist business owner clients and RIAs - connect with us here: https://calendly.com/sandate/aboutgpwa Companies mentioned in this episode: High Point Advisory GroupEnduranceXGramercy Park Wealth Advisors

    1h 1m
  3. Solving the Pre-IPO Liquidity Problem with Ian Leisegang, Co-Founder & Managing Partner of 3Spoke Capital

    May 12

    Solving the Pre-IPO Liquidity Problem with Ian Leisegang, Co-Founder & Managing Partner of 3Spoke Capital

    What do you tell a client sitting on a multi-million-dollar position in a pre-IPO company who needs liquidity today but doesn't want to sell and forfeit the upside? For most wealth advisors, private bankers, and RIAs, the honest answer has been "there isn't a great option." Ian Leisegang, CFA, Managing Partner of 3Spoke Capital, has spent the last 15 years building one with his fellow Managing Partner and Co-Founder Steve Gold. In this dual-release episode of Asset Backed and ATLalts, Ian walks through the structured secondaries strategy that 3Spoke pioneered — a hybrid solution that sits at the intersection of equity, debt, and alternatives. Rather than buying a shareholder's position outright, 3Spoke advances liquidity against the position and becomes a joint venture partner through the eventual exit, sharing in the upside while taking first-money-out downside protection. Ian covers: His path from South African CPA to Deutsche Bank derivatives to JP Morgan private banking — and the single $2M liquidity problem he couldn't solve for a client that led him and partner Steve to launch 3SpokeThe mechanics of a structured secondary: how a $100 position becomes a $30–$50 advance with no taxable event, no forfeited upside, and a partnership through to IPO or saleWhy "growth equity" — the crossover between late-stage venture and early private equity — is the most underserved liquidity zone in the marketThe use cases: common shareholders, option-holders facing expiration, LP fund interests, GP-led secondaries, and GP carried-interest advancesPortfolio names from 3Spoke's history, including DocuSign, Airbnb, Uber, Canva, Databricks, and eToroThe "three spokes" origin story: why no structured deal closes without aligning the capital provider, the seller, and the underlying company or GPInformation asymmetry on pre-IPO platforms and why retail buyers of common stock are routinely paying the wrong priceThe risk framework: targeting companies with $250M–$500M revenue, $1B+ enterprise values, 30–100% growth — and underwriting to 75–95% of investments returning at least 1x with 60–70% downside mitigationThe problem 3Spoke solves: shareholders, employees, founders, GPs, and LPs who need liquidity from a private position but don't want to forfeit the upside of a saleThe structure: an advance (typically 30–50% of position value) against the equity, paired with a minority share of the upside through to exit — not a loan, not a buyoutThe "growth equity" sweet spot: late-stage venture meets early private equity — companies with $250M–$500M in revenue and $1B+ enterprise valuesFive use-case categories: common shareholders, preferred shareholders, option-holders facing expiration, LP fund interests, and GP-led secondaries (including carry advances)The asset allocation case: structured secondaries offer asymmetric returns — equity-like upside with debt-like first-money-out protectionThe competitive edge: 15 years of structured deal experience, deep cap-table information, and partnership flexibility through to liquidity event If you advise clients with concentrated pre-IPO positions, sit on an investment committee evaluating secondaries managers, or run a GP that needs to deliver DPI to LPs without exiting a winner, this conversation is for you. Learn more about 3Spoke Capital by visiting their website at 3spokecapital.com. Listen, subscribe, and access manager profiles at EnduranceX.io

    57 min
  4. Specialty Finance Unveiled: Exploring untapped potential in this booming lending market to expand client exposure beyond direct lending strategies

    10/28/2025

    Specialty Finance Unveiled: Exploring untapped potential in this booming lending market to expand client exposure beyond direct lending strategies

    Launched in 2019, Coromandel Capital offers flexible, non-dilutive, growth-oriented asset-based lending solutions to businesses in specialty finance, fintech, and technology-enabled sectors that generate predictable, recurring revenue. As one of the few non-bank lenders specializing in small-ticket debt capital solutions, Coromandel Capital and similar entities—willing to provide financings below $20 million—are vital players for capital-intensive specialty lenders. The firm's financings typically range from $5 million to $50 million and have a three-year term. Co-Founder and Managing Partner Rob McGregor and I engaged in discussions on a variety of topics, including: - The role of debt financing in empowering startups and other early-stage and growing companies, particularly in relation to venture capital funding. - The risks associated with double pledging assets, including explanations thereof, especially in light of the recent collapse of First Brands. - The utilization of debt as a strategic tool for business growth. - The hidden costs related to venture debt. - The untapped potential inherent in the specialty finance sector. - The significance of diligent monitoring within lending relationships. - Strategies for growing as a private lender while safeguarding and maintaining capital. - Navigating the crowded and competitive private, non-bank lending industry to establish enduring relationships with borrowers and investors. Among the characteristics Coromandel seeks in ideal borrower partners are: - Balance-sheet intensive businesses (those originating or acquiring assets, tangible or intangible) that would otherwise finance these assets through equity. - Companies that have raised equity from Seed to Series B (or similar stages within their lifecycle), possess adequate capitalization to support operational expenses and maintain sufficient 'runway,' with a portion of this equity potentially serving as a contribution (also known as "haircut capital," "first loss capital," or "overcollateralization") for Coromandel's credit facility. - Subject matter experts and/or executives who are trailblazers with deep industry roots, a robust track record, and a validated business model. - Companies operating within sizable markets and differentiating themselves through cost-effective customer acquisition strategies, as well as firms that have identified an untapped or "greenfield" opportunity to address underserved or unserved markets. Key Takeaways for RIAs: RIAs have primarily used direct lending to gain private credit exposure, and this conversation delves into the opportunity offered by asset-based lending as a diversifying and complementary strategy for client portfolios.RIAs seeking to diversify in growing areas of private credit, such as asset-backed and asset-based strategies, can benefit from understanding how the fund manager underwrites, structures, and monitors their underlying credit exposures.Asset-based lending as a non-dilutive financing solution for growing specialty finance, tech-enabled lending businesses, and other growing firms in sectors generating predictable, recurring revenues, is an essential tool for strategic growth.Diligent monitoring and assessment of asset-backed loans are crucial in mitigating risks associated with double pledging, as evidenced by the recent First Brands collapse. The specialty finance sector harbors untapped potential that will only grow as more lending migrates away from banks, requiring RIAs to develop an in-depth understanding of risk management and strategic growth methodologies being employed by these alternative fund managers providing debt financing.Maintaining a competitive edge in the private lending landscape, even in emerging and exciting areas such as asset-based lending and asset-backed finance, requires building enduring relationships with borrowers while preserving capital for fund LPs.Venture debt, while a viable option for some startups, carries hidden costs that must be critically evaluated in the context of overall business strategy and capital structure. A thorough understanding of the unique dynamics of asset-based finance and asset-based lending strategies is essential for lenders, borrowers, and fund allocators as they navigate the complexities of this evolving market, where alternative investment and non-bank lending industry experts predict significant growth in the years ahead. Thank you for joining the ATLalts and Asset Backed podcast. To catch all the latest content of ATLalts or Asset Backed, our sister show, subscribe today and follow Endurance Strategies and Andres Sandate on LinkedIn or the Asset Backed YouTube Channel. This audio represents Endurance Strategies' intellectual property. Podcast Disclaimer This podcast is produced and hosted by Andres Sandate, and is the property of Endurance Strategies, LLC. Andres Sandate is a Financial Advisor with Gramercy Park Wealth Advisors, LLC, and a Registered Representative of GPWA, LLC, a member of FINRA/SIPC. Gramercy Park Wealth Advisors, LLC and GPWA, LLC are not responsible for the content of this podcast and do not offer investment, legal, or tax advice, nor do they recommend or endorse any securities, products, or strategies discussed. No part of this podcast may be published, reproduced, transmitted, or rebroadcast in any media or any form without the express written permission of Endurance Strategies, LLC. This podcast does not constitute an offer to sell or a solicitation of an offer to buy any fund interests, securities, or other financial instruments, nor does it constitute a solicitation on behalf of Endurance Strategies, LLC, its affiliates, or any third-party investment managers, their affiliates, products, or strategies. Any such offer or solicitation may only be made pursuant to the delivery of formal offering documents. Endurance Strategies, LLC has no obligation to update or revise any information contained herein. The company makes no representations or warranties as to the accuracy or completeness of the information, and this podcast should not be relied upon as the basis for investment decisions or for any other purpose. This material may be protected by copyright. © Endurance Strategies, LLC. All rights reserved.

    1h 20m
  5. Mount North Capital's Brian Seidensticker and Kiah Hochstetler on distressed real estate investing built on proprietary market insights and data-driven underwriting

    06/10/2025

    Mount North Capital's Brian Seidensticker and Kiah Hochstetler on distressed real estate investing built on proprietary market insights and data-driven underwriting

    Brian Seidensticker and Kiah Hochstetler discuss how they built Mount North Capital, a Last Best Partners portfolio company, into a data-driven, technology-enabled real estate investing platform that enables passive real estate investors to access the tax sale investment marketplace. The firm has strategically positioned itself to capture opportunities during economic slowdowns or downturns, as the tax sale investment market often presents increased opportunities during such periods. • Mount North Capital aims to offer asset-backed investment opportunities in the distressed property space to passive investors, all supported by data, technology, and a team of experienced real estate professionals. • Sister company Tax Sale Resources provides users with centralized access to tax sale data, designed to help these real estate investors save time and money while navigating this complex landscape. • Many of these users are real estate investors, and one of their most significant challenges in pursuing more deals is access to capital. • Seidensticker and Hochstetler explain Mount North Capital's capital partnership program and how their two-sided solution, which aids both real estate operators and passive real estate investors seeking asset-backed investment opportunities, came together in forming Mount North Capital.

    1h 4m
  6. Unlocking Value in Phoenix's Multifamily Sector: A Discussion with WhiteHaven's Ben Leybovich

    04/08/2025

    Unlocking Value in Phoenix's Multifamily Sector: A Discussion with WhiteHaven's Ben Leybovich

    The podcast episode serves as an in-depth exploration of the multifamily investment landscape in Phoenix, featuring insights from Ben Leybovich, co-founder of WhiteHaven. The discussion commences with a contextual overview of Phoenix as a compelling MSA for multifamily investments, emphasizing the city's exponential population growth and the resultant demand for housing. Leybovich details how demographic trends and economic policies converge to create a fertile ground for multifamily real estate investment. He emphasizes the importance of understanding the macroeconomic backdrop that influences real estate dynamics, elucidating factors such as job growth, migration patterns, and construction costs that collectively shape investment opportunities. As the conversation progresses, the episode delves into WhiteHaven's strategic positioning within this vibrant market. Leybovich shares the firm's approach to identifying undervalued assets and leveraging construction expertise to enhance property value through strategic renovations. He highlights the critical role of thorough due diligence in navigating the complexities of the multifamily sector, especially in a market where competition for quality assets is intensifying. By showcasing real-time examples of WhiteHaven’s investment strategies, Leybovich provides listeners with practical insights into the operational challenges and triumphs inherent in multifamily investments. The episode culminates in a forward-looking perspective, encouraging listeners to consider the long-term potential of investing in Phoenix's multifamily market, backed by WhiteHaven's expertise and local market knowledge. Takeaways: The multifamily investment landscape in Phoenix is particularly appealing due to the confluence of robust population growth and insufficient housing supply, creating a favorable environment for rental price appreciation. Ben Leybovich emphasizes that the unique macroeconomic factors in Phoenix, including a stable regulatory framework, contribute significantly to its attractiveness as a multifamily investment destination. Whitehaven's investment strategy involves identifying opportunities in both new construction and value-add multifamily properties, particularly focusing on acquiring assets below replacement cost. The current economic climate presents a strategic opportunity for savvy investors, as institutional capital remains on the sidelines, allowing smaller firms like Whitehaven to capitalize on discounted properties. With the anticipated population growth in Phoenix, projected to rise by approximately 1.2 million by 2030, demand for multifamily housing is expected to surge, emphasizing the necessity for new developments. Ben's insights reveal that the construction industry is currently experiencing significant challenges, including escalating costs and labor shortages, which may limit future supply and further enhance rental growth potential. Links referenced in this episode: www.atlalts.comwww.Whitehaven.comwww.gpwealthadvisors.com Companies mentioned in this episode: Whitehaven ATLalts Gramercy Park Wealth Advisors, LLC

    1h 3m
  7. Navigating Uncertainty and Allocating Strategically in Volatile Markets: The Importance of Private Credit in Portfolio Optimization

    04/07/2025

    Navigating Uncertainty and Allocating Strategically in Volatile Markets: The Importance of Private Credit in Portfolio Optimization

    This timely ATLalts podcast episode highlights the multifaceted landscape of private credit and alternative investment solutions, with a particular emphasis on the strategic considerations necessary for optimizing portfolio allocations in an increasingly volatile market environment. Our guest, Brook Scardina, Managing Partner - Capital Markets & Investments at Oak Real Estate Partners, brings a wealth of experience from his extensive tenure in institutional investing, where he adeptly navigated the complexities of asset management for noteable foundations and endowments such as UNC Management Company, UPS Pension Plan, and Georgia Tech Foundation. In a market characterized by recent stock market volatility, daily headlines of tariffs, uncertain fed policy, and fluctuating economic indicators, Scardina argues for the critical importance of incorporating alternative investments and private credit into investment portfolios as a means of enhancing diversification, mitigating risk, and earning attractive risk-adjusted yields, particularly in light of the diminishing returns expected from traditional equity markets. Furthermore, he articulates the structural advantages inherent in certain areas of the private credit space, such as reduced competition and the ability to capitalize on niche lending opportunities in short-duration real estate bridge lending, that larger institutions and banks overlook or can't pursue, thus providing a compelling rationale for investors to re-evaluate their asset allocation strategies. This discussion not only seeks to educate and inform but also to engage listeners in a deeper understanding of how nuanced approaches to private credit can serve as a cornerstone for achieving robust financial outcomes in a fluctuating and rapidly evolving economic landscape. The conversation delves into the intricate dynamics of private credit as a pivotal component of alternative investment strategies, and how investors can benefit from the different areas of this rapidly growing market. He emphasizes the necessity for investors to reassess their portfolios, particularly in light of the potential for a more protracted low expected return environment from equities and fixed income, advocating for an incremental allocation to private credit as a means of enhancing risk-adjusted returns. Scardina’s extensive background in managing large-scale investment portfolios for prestigious institutions at endowments, foundations, and corporate pension plans, equips him with the insights necessary to help educate listeners on the growing field and inherent complexities of private credit. He explores the various iterations within the private credit sector, such as subordinated debt and mezzanine financing, highlighting their distinct risk-return profiles. The episode elaborates on OREP's strategic approach to risk mitigation, underscoring the importance of customized financing solutions that align with the specific objectives of institutional investors. Moreover, Scardina’s case studies during the episode serve as practical illustrations of how OREP effectively addresses the financing needs of borrowers within the real estate private credit space where OREP competes, particularly in sectors where traditional lenders are typically hesitant to engage. This comprehensive examination of the real estate private credit landscape not only highlights the unique opportunities available to smaller, specialized lenders with institutional investor-grade capabilities but also reinforces the critical role these solutions can play in pursuing overall portfolio efficiency. Takeaways: The fundamental role of private credit as an optimal alternative investment, particularly in mitigating portfolio risk and enhancing diversification amidst prevailing market volatility. The discussion highlighted Oak Real Estate Partners' strategic approach to structuring highly customized debt solutions in real estate bridge lending, which are designed to align with the investment objectives of institutional and private wealth clients while maintaining a focus on credit risk mitigation. A salient point made was the increasing interest in private credit allocations to smaller, specialized, and niche sponsors among institutional investors, driven by the current restrictive lending environment at banking organizations, the larger firms pursuing similar strategies, and the scarcity of capital available for smaller lending opportunities due to the size of publicly traded alternative asset managers. Scardina emphasized the necessity of employing a rigorous underwriting process at OREP that mirrors institutional and securitization standards, ensuring the preservation of capital while generating competitive returns for investors. The episode underscored the significance of effective communication and education in bridging the gap between institutional and high-net-worth investors regarding alternative investment strategies. Scardina's insights on the evolving landscape of capital markets reinforced the importance of niche private credit managers in capturing unique opportunities that larger institutions may overlook or are unable to pursue due to structural disadvantages. Companies mentioned in this episode: Oak Real Estate Partners Georgia Tech Foundation UNC Management Company UPS

    56 min
  8. Unlocking Venture Growth Equity in AI: Al Tarar and Rizwan Muhammad of Quartus Capital Partners

    04/04/2025

    Unlocking Venture Growth Equity in AI: Al Tarar and Rizwan Muhammad of Quartus Capital Partners

    This episode of ATLalts features an AI focused conversation with the founders of venture growth equity firm Quartus Capital Partners, co-led by Founder, Managing Partner, and CIO, Al Tarar and Partner, Rizwan Muhammad. Quartus invests in growth-stage AI and technology ventures and aims to transform them into market leaders by applying extensive growth and performance improvement expertise. A special thanks to Mark Dziuba, Managing Director—Distribution, Pinnacle Capital Group for introducing me to Quartus Capital Partners. The firm, which has garnered recognition as a Private Equity Wire US Emerging Manager Award Winner in 2024, demonstrates an unwavering commitment to harnessing AI-driven solutions aimed at addressing some of society's most pressing challenges across sectors such as healthcare, education, and cybersecurity. Our conversation delves into the intricacies of AI's evolution from rudimentary pattern recognition to the contemporary realm of generative AI and its multifaceted applications across diverse sectors such as finance, logistics, and supply chain. We examine how the firm's investment philosophy, rooted in over three decades of collective expertise, prioritizes growth equity strategies that are meticulously designed to yield attractive risk-adjusted returns, as substantiated by extensive research from Cambridge Associates. As we engage with the nuances of AI’s transformative potential, we underscore the imperative of not merely seeking out innovative technologies, but rather discerning viable business solutions that substantiate sustainable growth and profitability in an ever-evolving AI market landscape often dominated by hype, soaring private markets valuations, and buzzy media headlines. As we dissect the operational ethos of Quartus Capital Partners, it becomes clear that their investment framework is not merely about capital allocation and asset gathering, or B2C consumer AI bets, but is deeply rooted in a philosophy of fostering B2B innovation employing AI and AI-based software while ensuring sustainable growth in core sectors of the economy. The episode culminates in a forward-looking perspective on the future of investment in AI, as the founders articulate their vision for leveraging technology to catalyze significant societal advancements, thereby reinforcing the notion that the true value of investment lies in its potential to effectuate meaningful change. Takeaways: Quartus Capital Partners, under the leadership of Al Tarar and Rizwan Muhammad, a team of AI pioneers, technologists, and seasoned operators, explores venture growth equity investing in a rapidly evolving AI landscape often dominated by B2C and consumer AI-related stories and strategies.Vertical applications of AI across education, healthcare, finance, security, logistics, and supply chain are often overlooked yet could have a profound impact on these industries and offer unprecedented opportunities for growth equity investors. The firm's extensive experience, spanning over three decades, empowers them to navigate the complex landscape of venture growth equity where they are investing in Series B, C, and D stage companies who required additional capital to grow.The partners have extensive growth and performance improvement expertise gained from working with some of the world’s largest businesses and believe this is a distinguishing advantage of their platform.With a focus on mid-stage technology companies, Quartus Capital Partners seeks to invest in businesses that have established product-market fit and sustainable revenues.As the AI domain continues to evolve, Quartus Capital Partners aims to make a global impact by supporting AI and technology companies that address real-world challenges. Links referenced in this episode: quartuscap.comCambridge Associates Research on Growth EquityGoldman Sachs Artificial Intelligence Research and Thought Leadership The information provided herein is for general informational purposes only and does not constitute financial, investment, legal, or other professional advice. It should not be considered a recommendation to purchase or sell any financial instruments or adopt any investment strategies. Past performance is not indicative of future results; all investments carry inherent risks, including the potential loss of principal. Before making any financial decisions, you should consult with a qualified professional who can assess your individual circumstances and objectives. We disclaim any liability for actions taken based on the information provided.​ Andres Sandate is the creator and host of ATLalts and is a financial advisor and Head of Alternative Investments at Gramercy Park Wealth Advisors, LLC. Gramercy Park Wealth Advisors, LLC and GPWA, LLC, Member FINRA/SIPC, are not responsible for this content and the views of the host and the guests are their views only.

    59 min
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About

ATLalts is a podcast for independent RIAs and accredited investors interested in learning about alternative investments, private markets, and alternative asset classes through interviews with alternative asset managers, asset owners, and industry practitioners. ATLalts explores venture capital, private equity, real estate, private credit, infrastructure, crypto and digital assets, hedge funds, secondaries, ag- and timberland, and more specialized alternative assets such as specialty finance and collectibles.

Information

  • Creator
    Andres Sandate
  • Years Active
    2021 - 2026
  • Episodes
    49
  • Rating
    Clean
  • Copyright
    © Copyright 2026 Andres Sandate
  • Show Website
    ATLalts