Episode summary
NEPC Uncovered: The OCIO Model, Private Markets & What’s Next with Scott Perry
Dakota Live!
· · Hosts: Robert Morier · Guests: Scott Perry
Summary
Scott Perry says NEPC’s OCIO work is built around three things: performance, scale, and what he calls the “dirty work” of operational, legal, and fiduciary execution. He argues that the model is attractive because it helps smaller institutions access private markets, pace commitments more effectively, and outsource a heavy administrative burden without giving up strategic control.
A major theme is discipline. Perry says NEPC’s research process relies on second-level thinking, cross-asset collaboration, a 250-question checklist, quantitative attribution tools, and a constant focus on alignment of incentives. He stresses that the firm uses the same manager research platform for advisory and OCIO clients, while the discretionary model mainly changes the speed of implementation and the ability to rebalance quickly.
Perry also highlights where NEPC sees opportunity and risk in a crowded market. He expects private markets to keep attracting capital, but warns that returns may compress as money floods into large buyout and direct lending. NEPC’s partnership with Hightower is framed as a way to expand into the RIA channel, especially through private markets expertise and model portfolios.
Key takeaways
- Perry says NEPC’s OCIO value proposition is performance, scale and taking on the “dirty work” of legal, operational and fiduciary responsibilities.
- He argues the OCIO model democratizes the endowment model by aggregating private markets access for smaller institutions.
- Perry says NEPC’s edge comes from second-level thinking, a 250-question due diligence checklist and cross-asset research collaboration.
- He expects private-market returns to compress as assets flood into large buyout and direct lending, while niche lending and venture may stay more attractive.
- Perry says the Hightower partnership is aimed at the RIA market, model portfolios and bringing NEPC’s private-markets expertise to wealth clients.
Notable quotes
“there's there's three things that that come to mind and and we often talk about, you know, the first is is performance”
“the third thing is what I call the the dirty work. And the dirty work is the operational stuff, the back office, the the legal work”
“that's the secret sauce and that's what we're always trying to to get at”
“I think there's a a number of things that we we focus on and I give Sarah Samuels a lot of credit”
How the episode opens
Welcome to the Dakota Live podcast. I'm your host, Robert Morier. The goal of this podcast is to help you better know the people behind investment decisions.
We introduce you to chief investment officers, manager research professionals, investment consultants, and other important players in the industry who will help you sell in between the lines and better understand the investment sales ecosystem. If you're not familiar with Dakota and our Dakota Live content, please check out our website at dakota.com to learn more about our services. Before we get started, I need to read a brief disclosure.
This content is provided forformational purposes and should not be relied upon as recommendations or advice about investing in securities. All investments involve risk and may lose money. Dakota does not guarantee the accuracy of any of the information provided by the speaker who is not affiliated with Dakota.
not a solicitation, testimonial, or an endorsement by Dakota or its affiliates. Nothing herein is intended to indicate approval, support, or recommendation of the investment advisor or its supervised persons by Dakota. Today's episode is brought to you by Dakota Marketplace.
Are you tired of constantly jumping between multiple databases and channels to find the right investment opportunities? Introducing Dakota Marketplace, the comprehensive institutional and intermediary database built by fundraisers for fundraisers. With the COD marketplace, you'll have access to all channels and asset classes in one place, saving you time and streamlining your fundraising process.
Say goodbye to the frustration of searching through multiple databases and say hello to a seamless and efficient fundraising experience. Sign up now and see the difference Dakota Marketplace can make for you. Visit dakakota marketplace.com today.
Our guest today is Scott Perry, partner and head of OCIO portfolio strategy at NEPC, one of the industry's largest full-ervice investment consulting firms.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- ocio evolution
- private markets access
- strategic acquisitions
- manager due diligence
- active vs passive
Companies and tickers mentioned
- NEPC
- Hightower
Watch the episode
Watch “NEPC Uncovered: The OCIO Model, Private Markets & What’s Next with Scott Perry” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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Dakota Live!, this episode and its artwork belong to Robert Morier. Octagon is not affiliated with the show; this page is an independent summary.
