In this episode, host Robert Morier sits down with Kyle Marmelstein, Investment Director at Crewcial Partners, live from Newport, Rhode Island.

With over 15 years in institutional consulting and manager research, Kyle shares insights into building lasting partnerships, managing risk through market cycles, and why empathy and listening are essential tools in the allocator’s toolkit.

From the lessons of 2008 to today’s private equity dislocations, Kyle offers a grounded view of what it means to invest with conviction, humility, and purpose.

Crewcial Partners is an independent investment advisory firm based in New York, serving endowments, foundations, and mission-driven institutions across the U.S. With over 40 years of experience, the firm designs customized portfolios that align mission with performance, grounded in rigorous research, transparent communication, and long-term partnership.

Key Insights for Allocators

• Hybrid OCIO models — Kyle explains how Crewcial Partners bridges advisory and execution, offering clients flexibility while maintaining investment discipline.
• Private equity secondaries — Learn how current market dislocations are creating opportunity for smaller endowments and foundations to enter private markets more efficiently.
• People and process alignment — Discover why trust, transparency, and culture drive Crewcial’s due diligence and client partnerships more than any model or metric.

Key Takeaways for Asset Managers

• Preparation and empathy win the meeting — Kyle emphasizes the importance of knowing allocators’ pain points and coming prepared to connect, not just to sell.
• Tell your story honestly — Authentic storytelling, humility, and transparency—especially about mistakes—build trust faster than performance charts ever will.
• Understand the human side of due diligence — Hear how allocators like Kyle “build the mosaic” over time, testing conviction and consistency through multiple meetings.

Listen now to hear how one allocator’s journey from the 2008 crisis to today’s dynamic markets reveals enduring truths about partnership, patience, and purpose in investing.

Recorded from the beautiful Castle Hill Inn in Newport, Rhode Island, this special episode of the Dakota Live! Podcast captures the energy and insights of the Havener Capital Partners StorySales Accelerator Capstone Event.

In this conversation, host Robert Morier sits down with Evan Butler, Investment Analyst at CW Advisors, to explore the art and science of manager research and due diligence from the perspective of both the Chief Investment Officer and the analyst. Evan shares how CW Advisors identifies and underwrites top-tier managers across asset classes, balancing institutional rigor with a boutique approach to client service.

Evan shares his journey from studying marketing at Bryant University to becoming a key member of CW’s alternative investment research team—illustrating how data analytics, storytelling, and relationship-building converge in the modern investment landscape.

From sourcing niche managers and structuring bespoke client portfolios to managing the delicate balance between performance and partnership, Evan offers an authentic look into the relationship between idea generation, investment committee collaboration, and client education.

Recorded amid the ocean air of Newport, this conversation dives deep into:

• The evolving relationship between CIOs and analysts in modern wealth management
• The discipline behind manager sourcing and due diligence
• How CW Advisors balances accessibility with institutional-quality investments
• The mentorship and decision-making process that defines successful investment teams

This episode reminds us that great investing—like great conversation—is built on curiosity, collaboration, and trust.

What’s changed—and what still matters—in the OCIO model? In this episode of the Dakota Live! Podcast, host Robert Morier sits down with Adam Lerner, Senior Director of Investments at Prime Buchholz, to unpack how a research-driven OCIO and consulting platform evaluates managers, constructs portfolios, and serves nonprofit clients across endowments, foundations, healthcare systems, and more.

Founded in 1988, Prime Buchholz is one of the industry’s leading independent investment consulting firms, advising on over $80 billion in assets for a diverse range of clients, including colleges and universities, foundations, endowments, hospitals, pension plans, and other long-term investors.

We dig into sourcing, underwriting, and ongoing due diligence; active vs. passive in public equities; portfolio concentration; operational red flags; and how client service and technology shape today’s OCIO experience.

In this conversation:
- The OCIO landscape and Prime Buchholz’s client mix (education, foundations, healthcare) and footprint from Portsmouth (NH), Boston, and Atlanta.
- Research philosophy: why qualitative conviction drives the “A-list,” and how holdings-based questioning tests process discipline.
- Common diligence pitfalls: process drift, team turnover (culture tells), and capacity creep—especially in less-liquid segments.
- Balancing quant screens with judgment (including niche screens like risk-aware 130/30) and aligning manager roles inside the total portfolio.
- Technology’s role: the Prime Plus portal for scenarioing managers, tracking characteristics, and improving meeting-to-meeting clarity with committees.
- Endowment model realities: liquidity, governance, and mission-aligned investing—what’s evolving and what endures.

Whether you’re considering an OCIO platform, running due diligence, or managing client relationships, this conversation is a reminder that consistency, transparency, and conviction remain the hallmarks of enduring investment leadership.