September 25, 2023
GEM’s proprietary Enterprise Assessment framework provides a structured approach to aligning an institution’s investment policy with its financial realities, strategic goals, and risk tolerances. By evaluating key factors such as budget dependence, operating performance, balance sheet strength, and endowment flows, the framework clarifies an organization’s capacity to accept investment risk. These insights are combined with mission-driven priorities and stakeholder preferences to determine appropriate risk-return objectives. The resulting analysis guides the development of customized portfolios and Investment Policy Statements that balance long-term growth with stability, support effective governance, and help institutions sustain their missions over time.
Three years after our last Investment Policy review, the regime has shifted: higher rates, sticky inflation, and a positive stock-bond correlation. In this conversation, GEM’s CIO Matt Bank revisits not just capital market assumptions but the framework itself, from methodology to implementation and risk management.
The firm announced the final close of GEM Seed & Micro Venture Fund, LP. The Fund closed with $82 million in commitments—exceeding its hard cap and fundraising target—and marks GEM's first vehicle focused specifically on seed- and micro-stage venture capital.
Kelly Barofsky, a Managing Director in GEM’s Investment Research Group, spoke with PitchBook about the continued momentum behind independent sponsors and why deal-by-deal structures can create strong alignment between sponsors and investors.
Let’s start a conversation about how we can help.
