Скачать или смотреть The Waco Edge: Investing with Purpose at Baylor University

In this compelling episode of the Dakota Live! Podcast, host Robert Morier sits down with Renee Hanna and Kailey Ransom from Baylor University's Office of Investments to explore how a mission-driven approach informs manager research, team dynamics, and long-term investment success.

Baylor’s $2.1 billion endowment supports a range of initiatives including scholarships and professorships—and behind the numbers is a deeply collaborative team led by values, diligence, and a commitment to developing strong investment partnerships.

Renee, Managing Director of Investments, shares insights from her 17-year tenure building out Baylor’s private markets portfolio with intentionality and discipline. Kailey, a rising talent and investment analyst, reflects on her transition from Baylor student to staff and the unique opportunity to learn from a tight-knit, high-performing team. Together, they walk us through how manager selection at Baylor is guided not only by performance, but by integrity, alignment of values, and a firm’s "why"—what drives them beyond money.

Key takeaways for listeners:

• Integrity is a Non-Negotiable: Baylor's deep-dive due diligence starts with reference checks from friends, neighbors, and former colleagues.
• Team Collaboration Matters: With a flat structure and shared decision-making, the private investment team evaluates every GP through a unified lens.
• Focused and Intentional: With a relatively concentrated private markets book (favoring sub-$500M funds in tech, healthcare, and consumer), Baylor only adds 1–2 managers annually—and expects to grow alongside them.
• Mission Alignment: The endowment supports transformational student experiences, making investment outcomes personal for the team.
• The Waco Advantage: A tight campus community away from coastal financial centers allows the team to think independently while staying connected to its purpose.

Whether you're an allocator, GP, or student considering a career in finance, this episode offers a rare look into how a university investment office balances discipline, culture, and conviction in building a portfolio that lasts generations.

Renee Hanna:   / renee-hanna-cfa-474749a  

Kailey Ransom:   / kailey-ransom-000  

Robert Morier:   / robertlmorier  

Steve Aitken:   / steve-aitken-a2488556  

Our Website:
https://dakota.com

Baylor University Office of Investments:
https://investments.web.baylor.edu/

🎙️ Listen to the Podcast:

Spotify:
https://open.spotify.com/show/3NUXRMz...

Apple Podcast:
https://podcasts.apple.com/us/podcast...

00:00 Intro
01:44 Baylor University Intro
02:31 Renee Hanna Intro
03:06 Kailey Ransom Intro
03:44 Experiences studying at Baylor University
06:18 Finding the investment office
09:30 Investment office overview
10:44 Baylor's mission
11:33 Teaching
13:00 The private investment team
14:41 What makes a baylor partner
17:42 Critical qualitative insights
19:26 Emerging managers
20:26 Operational due diligence
21:37 Working with other LPs during due diligence
22:54 New skills
24:09 Overseas opportunities
25:44 Specialist GPs
27:34 Portfolio risk management
28:58 Approaching new opportunities
32:41 Operator versus investor
33:49 Co-investments
35:26 Public equity concentration
36:38 Sectors of focus
37:43 The Waco edge
38:42 Mentoring
40:02 Early career experiences
41:40 Questions that stump managers
43:11 When to stop asking questions
44:58 How the final decision is made
46:46 What's changed since 2008
48:10 What young staff bring to the table
50:40 Current investment trends
51:54 Private credit
52:39 Advice for students
53:13 Lessons learned
54:47 Being part of the Baylor legacy
55:27 Mentors
58:49 What students are doing post-grad
01:00:54 Student Question - Cautious areas of private markets
01:02:18 Outro