April 28, 2025
As part of ION Analytics’ Influencer Fireside Chat series, Kelly Barofsky, a Director in GEM’s Investment Research Group, sat down with Giovanni Amodeo for an in-depth discussion on how GEM defines, sources, and selects investment opportunities in the lower mid-market. Kelly begins by outlining her journey to investment management before elaborating on the attributes that make the lower mid-market an attractive market segment. They then discussed why GEM believes sector specialization is an advantage for managers, the implications of growing a fund slowly vs. scaling more quickly, and how we assess a manager’s ability to translate their strategy into true value creation for their portfolio companies. Kelly concludes by providing an outlook for the market, noting the resilience of GEM’s buyout portfolio while also acknowledging a challenging IPO environment and ongoing investor concerns related to tariffs, recession risk, and the broader macroeconomic landscape.
Watch the full conversation below.
Head of Venture Capital, Kate Simpson, joined David Weisburd on the How I Invest podcast to share how GEM evaluates venture managers and builds conviction through disciplined sourcing, rigorous reference work, and thoughtful fund-level underwriting in an increasingly bifurcated market.
In our 2026 Outlook, the GEM team explores the key forces driving today’s evolving market cycle, from AI-led capital spending to shifting dynamics in private markets, biotech, and real estate, and what they mean for positioning in the year ahead.
In this edition of The Long View, Co-CIO Matt Bank explains why managing risk with structure, discipline, and flexibility is essential for long-term investors, and how GEM’s approach helps portfolios endure uncertainty.
Let’s start a conversation about how we can help.
