Join host Robert Morier and Andrew O’Shea in this insightful episode of the Dakota Live! Podcast as they sit down with Zach Ruchman, Managing Director of Private Investments at HB Wealth, a $26 billion multi-family office and RIA.
With a background that spans from global public policy to direct private equity co-investments, Zach shares his journey and offers a masterclass on navigating private investments in today’s evolving wealth management landscape.
In this episode, you’ll learn:
• How HB Wealth approaches asset allocation for private equity, venture capital, and private credit
• The must-ask questions when evaluating a manager (including a unique take on "Why do you exist?")
• Why alignment, transparency, and purpose-built vehicles are at the heart of Zach’s investment philosophy
• How operational due diligence serves as a critical downside protection tool
• The rise of independent sponsors, secondaries, and evergreen vehicles—and how to think about each
• Why GP-LP relationships are more like long-term marriages than transactions
Zach also shares how he manages a high-volume manager pipeline, what goes into a multi-year due diligence process, and how HB Wealth seeks private market alpha, not just beta, for its clients.
Whether you're an allocator, asset manager, or aspiring investor, this episode delivers actionable insights on selecting the right managers and building a resilient private markets program.
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