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Today\u2019s show is the first in an ongoing mini-series discussing Training Grounds, organizations that have developed and spawned future industry leaders. We\u2019ll cover both allocators and managers to see what we can learn about developing talent.

In the first episode of the mini-series, we discuss Carnegie Corporation of New York. Ellen Shuman became Carnegie\u2019s first CIO in 1999 after working for David Swensen at Yale. Over her dozen year tenure and that of Meredith Jenkins and Kim Lew for the next dozen, and incredible 8 of the 17 investment professionals that walked in the door have become CIOs, and the rest appear either on their way or found their passion as leaders in complimentary roles or outside the industry. Those who became sitting CIOs are Meredith at Carnegie and Trinity Wall Street, Kim at Carnegie and Columbia, Jon Michael Consalvo at Carnegie, Alisa Mall at Michael Dell\u2019s Family Office, Niles Bryant at Bowdoin College, Brooke Jones at Bryn Mawr College, Ken Lee at Children\u2019s Healthcare, and Li Tan at Radian X.\xa0 Carnegie is a lesser-known allocator training ground than Yale, but it\u2019s produced half the number of future CIOs from fraction of the team size.

My guests to discuss how this happened are Ellen Shuman, Meredith Jenkins, Kim Lew, and Alisa Mall. We cover the chronology of their paths, and the Carnegie organization and investment process, including recruiting, culture, research, decision-making, and succession. Alongside the many applicable lessons they share, their palpable love and respect for each other is evident from the get go.

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