🎥 Goldman Sachs' Sara Naison-Tarajano - working with the apex of the wealth channel

Welcome back to the Alt Goes Mainstream podcast.

Today’s episode brings us to the apex of the wealth channel. We sat down in Goldman Sachs’ HQ at 200 West with Sara Naison-Tarajano, a Partner and Global Head of Private Wealth Management Capital Markets and Global Head of Goldman Sachs Apex Family Office Coverage. Sara is also responsible for the One Goldman Sachs Family Office initiative in the Americas.

Sara has been at Goldman Sachs for over 26 years, where she’s worked in a number of roles across the firm, equipping her with a multi-disciplinary background that is brought to bear in her current role leading a global platform that delivers multi-asset investing, financing, and direct investment opportunities to some of the world’s largest family offices. Goldman Sachs Apex Family Office Coverage now serves more than 600 family offices across the globe.

Sara and I had a fascinating discussion about the growing intersection between private markets and private wealth and what some of the wealth channel’s largest investors find interesting and differentiated in private markets. We covered:

* How Sara expected to spend one year at Goldman and it turned into 26 years at the firm.

* How her background in derivatives structuring in public markets has helped her approach private markets — and what investors in private markets can learn from being exposed to public markets.

* Why Sara decided to create Goldman Sachs Apex to build a dedicated group to help large family offices invest directly into private markets.

* How Apex is related to Goldman’s “One Goldman Sachs” initiative.

* How the power of the platform helps to differentiate Goldman’s wealth management business.

* What lessons the wealth channel can learn from how the UHNW and billionaire family office segment approaches private markets.

* Takeaways from the Goldman Sachs Family Office Insights Report.

* How the wealth channel can engage the next generation clients and how private markets play a role in reaching the next gen.

Thanks Sara for coming on the Alt Goes Mainstream podcast to share your expertise and wisdom on private markets and working with the wealth channel.

Thanks for reading Alt Goes Mainstream! Subscribe for free to receive new posts and support my work - writing and podcasting about the convergence of private markets and private wealth since December 2020.

Show Notes

00:21 Goldman Sachs: A Journey of 26 Years

00:41 Welcome to the Alt Goes Mainstream Podcast

01:05 Introduction to Sara Naison-Tarajano

03:09 Sara’s Unexpected Career at Goldman

04:56 Intellectual Curiosity in Financial Services

05:36 The Fascination with Derivatives

07:18 Transition to Wealth Management

08:06 Goldman’s Culture of Creativity and Entrepreneurship

08:33 The Rise of Family Offices

09:30 The Creation and Vision of Apex

11:10 Apex: Serving Sophisticated Family Offices

12:21 The Unique Deal Flow of Apex

13:12 Early Days and Evolution of Apex

16:46 Family Offices as Co-Investors

20:25 Misconceptions About Family Offices

22:09 Next Generation and Family Offices

26:19 Engaging the Next Generation

27:41 Long-Term Vision in Wealth Management

28:54 Balancing Fast Growth and Long-Term Vision

33:03 Public Markets Insights for Private Investors

36:31 Access to Capital in Private Markets

36:58 Emerging Trends in Private Markets

37:25 The Rise of Secondaries

37:52 Family Offices and Secondaries

39:00 Private Credit and Secondaries

39:23 The Permanence of Secondaries

40:56 Goldman’s Acquisition in the Secondary Space

41:54 Family Offices’ Investment Strategies

42:17 US vs Global Family Offices

42:49 Private Markets and Inflation

44:50 Advice for Wealth Channel Investors

45:46 The Importance of Liquidity Planning

46:39 Evergreen Funds vs Drawdown Funds

49:46 Internationalization of Family Offices

52:02 Geopolitical Concerns and Investments

53:19 Hedging Strategies for Family Offices

55:51 Mega Trends in Investing

57:41 AI and Infrastructure Investments

59:27 Simple Wealth Management Strategies

01:02:12 Fixed Income and Private Credit

01:03:09 Understanding Investment Terms

01:04:17 Risks in Private Markets

01:05:20 Cybersecurity Concerns

01:06:06 The Future of Apex

01:09:56 Entrepreneurial Endeavors in Wealth Management

Editing and post-production work for this episode was provided by The Podcast Consultant.

Join over 14,600 Substack subscribers & followers who are thought leaders and executives from top private markets firms and wealth management like Blackstone, Apollo, Ares, KKR, EQT, Carlyle, Blue Owl, CVC, TPG, Brookfield Oaktree, Vista, Goldman Sachs, J.P. Morgan, BlackRock, Fidelity, iCapital, Franklin Templeton, Nuveen, Hg, Permira, Stonepeak, Hightower, Focus Financial, Cerity Partners, and more.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit altgoesmainstream.substack.com