December 11, 2025
The Long View—a series from GEM’s Co-CIO, Matt Bank— explores a range of topics relevant to the fiduciaries and allocators of institutional capital.
Despite buoyant markets and tight credit spreads, long-term investors face an environment defined by uncertainty, structural shifts, and persistent bouts of volatility. In this installment of The Long View, Matt argues that risk management is not a defensive add-on—it is the central craft of investing.
Bank examines how today’s conditions underscore the need for a holistic risk framework centered on:
• A well-articulated investment policy,
• A disciplined approach to rebalancing,
• The flexibility to act when odds temporarily shift, and
• A culture that enables clarity, candor, and decisive action.
The result is a practical guide for institutions seeking to steward capital across generations.
The firm announced the final close of its second Independent Sponsors Fund at its hard cap. New capital for the strategy totals $685 million, extending a program that has invested alongside independent sponsors for more than a decade.
CIO Matt Bank joined a group of fellow CIOs on the Capital Allocators podcast to discuss how each of them is evaluating the benefits and risks of integrating AI into their investment practices today.
We believe the lower middle market remains one of private equity’s most durable and least crowded sources of outperformance. In our latest research report, we examine the data behind our thesis and explain why we think disciplined manager selection creates a distinct edge.
Let’s start a conversation about how we can help.
