The Institutional Edge: Real allocators. Real alpha.

Angelo Calvello
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Welcome to The Institutional Edge: Real allocators. Real alpha! Dr. Angelo Calvello hosts this exciting new podcast partnership with Pensions & Investments, designed to cut through the noise in institutional investing. Unlike other investment podcasts filled with vendor pitches and rambling biographical stories, this series delivers focused 30-minute episodes featuring real asset owners who actually deploy capital. Get ready for authentic insights that challenge conventional thinking and help you make smarter investment decisions. About the Host: Dr. Angelo Calvello is a serial innovator and co-founder of multiple investment firms, including Rosetta Analytics and Blue Diamond Asset Management. He leverages his extensive professional network and reputation for authentic thought leadership to curate conversations with genuinely innovative allocators. As the "Dissident" columnist for Institutional Investor and former "Doctor Is In" columnist for Chief Investment Officer (winner of the 2016 Jesse H. Neal Award), Calvello has become a leading voice challenging conventional investment wisdom. Beyond his professional pursuits, Calvello serves as Chairman of the Maryland State Retirement and Pension System's Climate Advisory Panel, Chairman of the Board of Outreach with Lacrosse and Schools (OWLS Lacrosse), a nonprofit organization creating opportunities for at-risk youths in Chicago, and trustee for a Chicago-area police pension fund. His career-long focus on leveraging innovation to deliver superior client outcomes makes him the ideal host for cutting-edge institutional investing conversations.

Episodes

  1. 3D AGO

    The AI Implementation Gap: What's Stopping Asset Allocators?

    "I feel like the adoption of an AI tool could potentially eliminate the need for other existing tools - it might not be a net add, it could be a net efficiency gain." - Melissa Lopez In this episode, Angelo Calvello of The Institutional Edge interviews Melissa Lopez, former Managing Director at James Irvine Foundation, about AI integration in institutional investment management. With 15 years of endowment and foundation experience managing multi-billion dollar Bay Area portfolios, Lopez reveals why allocators struggle with AI adoption despite clear productivity benefits. She discusses cultural barriers, leadership challenges, and practical implementation strategies, distinguishing between true AI integration and misconceptions about AI exposure through venture portfolios. Lopez advocates for immediate experimentation over wait-and-see approaches, emphasizing relationship-driven business fundamentals while embracing technological transformation for better beneficiary outcomes. In This Episode: (00:00) Introduction - Melissa Lopez, AI integration discussion (01:56) AI benefits for allocators, productivity and operational efficiency (05:14) Barriers to AI adoption, performance pressures and misconceptions (08:52) Cultural mindset challenges and leadership awareness issues (13:16) Build vs lease AI solutions, third party considerations (18:37) Peer-to-peer communication and industry knowledge sharing (28:02) Future AI integration timeline and relationship-driven business (30:57) Worst pitch story, management fee focused manager Like, subscribe, and share this episode with someone who might be interested! Dr. Angelo Calvello is a serial innovator and co-founder of multiple investment firms, including Rosetta Analytics and Blue Diamond Asset Management. He leverages his extensive professional network and reputation for authentic thought leadership to curate conversations with genuinely innovative allocators. As the "Dissident" columnist for Institutional Investor and former "Doctor Is In" columnist for Chief Investment Officer (winner of the 2016 Jesse H. Neal Award), Calvello has become a leading voice challenging conventional investment wisdom. Beyond his professional pursuits, Calvello serves as Chairman of the Maryland State Retirement and Pension System's Climate Advisory Panel, Chairman of the Board of Outreach with Lacrosse and Schools (OWLS Lacrosse), a nonprofit organization creating opportunities for at-risk youths in Chicago, and trustee for a Chicago-area police pension fund. His career-long focus on leveraging innovation to deliver superior client outcomes makes him the ideal host for cutting-edge institutional investing conversations. Resources: Link to Melissa Lopez’s article: https://www.pionline.com/opinion/pi-opinion-AI-hiring-for-the-future

    34 min

  2. AUG 19

    An Asset Allocator's AI Use Cases, Implementation Strategy, and Wishlist with Mark Steed

    What happens when a retirement fund's AI models start outperforming human investment decisions? In this episode of The Institutional Edge, host Angelo Calvello, CEO of Rosetta Analytics, interviews Mark Steed, Chief Investment Officer of the Arizona Public Safety Personnel Retirement System. Mark discusses his hands-on approach to implementing AI in institutional investing, focusing on two primary use cases: operational efficiency through automated document processing and enhanced decision-making via machine learning. The conversation explores practical challenges including data security, board governance, and talent requirements. Mark shares his vision for AI-powered investment workflows and explains how proper governance frameworks can encourage innovation without compromising oversight in retirement fund management. In This Episode: (00:00) Introduction of guest Mark Steed, AI innovation discussion (03:02) AI use cases: operational efficiency and decision making (09:30) Manager selection process and generative AI applications (16:37) Building governance frameworks for AI implementation and oversight (24:44) Key requirements: talent, data, and compute infrastructure (29:35) Future wishlist: AI-powered investment workflow automation (32:36) Multi-agent systems and the future of investing (33:52) Worst investment pitch: Formula One racetrack story Like, subscribe, and share this episode with someone who might be interested! Dr. Angelo Calvello is a serial innovator and co-founder of multiple investment firms, including Rosetta Analytics and Blue Diamond Asset Management. He leverages his extensive professional network and reputation for authentic thought leadership to curate conversations with genuinely innovative allocators. As the "Dissident" columnist for Institutional Investor and former "Doctor Is In" columnist for Chief Investment Officer (winner of the 2016 Jesse H. Neal Award), Calvello has become a leading voice challenging conventional investment wisdom. Beyond his professional pursuits, Calvello serves as Chairman of the Maryland State Retirement and Pension System's Climate Advisory Panel, Chairman of the Board of Outreach with Lacrosse and Schools (OWLS Lacrosse), a nonprofit organization creating opportunities for at-risk youths in Chicago, and trustee for a Chicago-area police pension fund. His career-long focus on leveraging innovation to deliver superior client outcomes makes him the ideal host for cutting-edge institutional investing conversations. Resources: Mark Steed Bio:  https://www.psprs.com/about/psprs-executive-team/ Arizona Public Safety Personnel Retirement System: https://www.psprs.com/ Chapters (00:00:00) - What's the Governance of AI and Machine Learning(00:00:32) - Institutional Edge: Asset Allocators, AI(00:02:03) - AI Use Cases and Their Benefits(00:11:05) - AI Decisions: Verification and Explainability(00:15:48) - On Board Experience with AI and Machine Learning(00:23:46) - What are the two or three other key features that you need to(00:28:35) - CIO Network: What's AI Doing for You?(00:31:47) - AIBM's Data Science Capability(00:32:59) - The Worst Investment Pitch Ever Heard

    36 min

  3. AUG 13

    A Framework for Fiduciary Innovation

    What's the biggest mistake asset managers make when implementing AI? This week on Institutional Edge, host Angelo Calvello sits down with Peter Strikwerda, Global Head of Digitalization and Innovation at APG Asset Management. Managing €616 billion in pension assets, Peter shares APG's groundbreaking framework for implementing AI while maintaining fiduciary responsibility. He reveals how the Dutch pension giant overcomes status quo bias, manages the reality that four out of five AI experiments fail, and transitions from rule-based to principle-based governance. Peter offers practical guidance for asset owners navigating the tension between innovation imperatives and fiduciary obligations, emphasizing that AI isn't just another tool—it's transformative technology that requires strategic embedding throughout the organization. In This Episode: (00:00) Introduction- Peter Strikwerda and APG Asset Management (02:09) Peter's mandate at APG and AI's role in digitalization (05:33) Responsible experimentation: Creating structured environments within fiduciary boundaries (15:44) Governance evolution: From rule-based to principle-based AI oversight (22:33) Risk-adjusted innovation: Managing experimental failure rates and value assessment (26:39) Scaling methodology: Progressive frameworks from experiments to enterprise deployment (29:00) Framework for fiduciary innovation and guidance for peers (31:09) Worst vendor pitches and enterprise-grade standards Like, subscribe, and share this episode with someone who might be interested! Dr. Angelo Calvello is a serial innovator and co-founder of multiple investment firms, including Rosetta Analytics and Blue Diamond Asset Management. He leverages his extensive professional network and reputation for authentic thought leadership to curate conversations with genuinely innovative allocators. As the "Dissident" columnist for Institutional Investor and former "Doctor Is In" columnist for Chief Investment Officer (winner of the 2016 Jesse H. Neal Award), Calvello has become a leading voice challenging conventional investment wisdom. Beyond his professional pursuits, Calvello serves as Chairman of the Maryland State Retirement and Pension System's Climate Advisory Panel, Chairman of the Board of Outreach with Lacrosse and Schools (OWLS Lacrosse), a nonprofit organization creating opportunities for at-risk youths in Chicago, and trustee for a Chicago-area police pension fund. His career-long focus on leveraging innovation to deliver superior client outcomes makes him the ideal host for cutting-edge conversations on institutional investing. Resources: Peter Strikwerda: Chapters (00:00:00) - Real Alpha: A Framework for AI Driven Fiduciary(00:01:17) - How APG is integrating AI into its investment decision-making(00:04:40) - Pension IT Strategy: Data Privacy and AI(00:08:54) - Black Box and the fiduciary obligation(00:09:48) - Fiduciary Investors on AI and Its Governance(00:15:01) - WSJD.com: The Challenges of Digitalization(00:16:47) - The Governance of AI(00:20:55) - How to Manage the Scientific Uncertainty of AI(00:21:50) - Fiduciary Innovation in AI(00:25:43) - Top Executives: AI in Financial Services(00:27:42) - The Future of AI and the Fiduciary(00:30:14) - What's the Worst Software Sales Pitch?(00:32:14) - Podcast

    33 min

  4. AUG 11

    Trailer: Institutional Edge Podcast Launch: Angelo Calvello Partners with Pensions & Investments for AI Investment Series

    Welcome to The Institutional Edge: Real allocators. Real alpha! Host Dr. Angelo Calvello introduces his exciting new podcast partnership with Pensions & Investments, designed to cut through the noise in institutional investing. Unlike other investment podcasts filled with vendor pitches and rambling biographical stories, this series delivers focused 30-minute episodes featuring real asset owners who actually deploy capital. The first series, "AI is Transforming Institutional Investing," features conversations with innovative professionals, including Peter Strikwerda from APG and Mark Steed from the Arizona Public Safety Personnel Retirement System. Get ready for authentic insights that challenge conventional thinking and help you make smarter investment decisions. Dr. Angelo Calvello is a serial innovator and co-founder of multiple investment firms, including Rosetta Analytics and Blue Diamond Asset Management. He leverages his extensive professional network and reputation for authentic thought leadership to curate conversations with genuinely innovative allocators. As the "Dissident" columnist for Institutional Investor and former "Doctor Is In" columnist for Chief Investment Officer (winner of the 2016 Jesse H. Neal Award), Calvello has become a leading voice challenging conventional investment wisdom. Beyond his professional pursuits, Calvello serves as Chairman of the Maryland State Retirement and Pension System's Climate Advisory Panel, Chairman of the Board of Outreach with Lacrosse and Schools (OWLS Lacrosse), a nonprofit organization creating opportunities for at-risk youths in Chicago, and trustee for a Chicago-area police pension fund. His career-long focus on leveraging innovation to deliver superior client outcomes makes him the ideal host for cutting-edge institutional investing conversations. Resources: Email Angelo: Angelo.Calvello@pionline.com Email Julie: julie.parten@pionline.com Pensions & Investments Pensions & Investments - YouTube Dr. Angelo Calvello LinkedIn Chapters (00:00:00) - The Institutional Edge: Real Allocators Real Alpha

    5 min

Trailer

About

Welcome to The Institutional Edge: Real allocators. Real alpha! Dr. Angelo Calvello hosts this exciting new podcast partnership with Pensions & Investments, designed to cut through the noise in institutional investing. Unlike other investment podcasts filled with vendor pitches and rambling biographical stories, this series delivers focused 30-minute episodes featuring real asset owners who actually deploy capital. Get ready for authentic insights that challenge conventional thinking and help you make smarter investment decisions. About the Host: Dr. Angelo Calvello is a serial innovator and co-founder of multiple investment firms, including Rosetta Analytics and Blue Diamond Asset Management. He leverages his extensive professional network and reputation for authentic thought leadership to curate conversations with genuinely innovative allocators. As the "Dissident" columnist for Institutional Investor and former "Doctor Is In" columnist for Chief Investment Officer (winner of the 2016 Jesse H. Neal Award), Calvello has become a leading voice challenging conventional investment wisdom. Beyond his professional pursuits, Calvello serves as Chairman of the Maryland State Retirement and Pension System's Climate Advisory Panel, Chairman of the Board of Outreach with Lacrosse and Schools (OWLS Lacrosse), a nonprofit organization creating opportunities for at-risk youths in Chicago, and trustee for a Chicago-area police pension fund. His career-long focus on leveraging innovation to deliver superior client outcomes makes him the ideal host for cutting-edge institutional investing conversations.

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