In this episode of Dakota Live!, host Robert Morier sits down with Scott Schweighauser, Managing Partner of Borealis Strategic Capital Partners, for a wide-ranging conversation on GP seeding, hedge fund history, and why now is such a compelling moment to back emerging managers.

Scott brings decades of experience across trading, fund-of-funds investing, and early-stage hedge fund seeding to unpack how the hedge fund industry has evolved—from the early, relationship-driven days through institutionalization, the GFC, and today’s renewed focus on differentiated alpha.

The discussion explores why emerging managers can outperform early in their lifecycle, how thoughtful seed structures create alignment, and what allocator-grade manager research and due diligence really look like in practice.

The conversation also weaves in Scott’s lifelong passion for rowing—using the sport as a powerful metaphor for teamwork, trust, grit, and leadership. From sunrise rows on the Charles to building durable investment partnerships, Scott shares why having fun in the work matters, and how joy, curiosity, and discipline coexist in great investing organizations.

Key topics covered:

• GP seeding and strategic capital for emerging hedge fund managers
• A brief history of hedge fund investing—and why the opportunity set is changing
• Why “why now” matters for seeding and early-stage manager selection
• Manager research, sourcing, and qualitative due diligence
• Alignment, structure, and avoiding adverse selection in seeding deals
• Early-stage performance dynamics and the “emerging manager premium”
• Rowing, leadership, trust, and building teams under pressure
• Why curiosity and enjoyment are underrated edges in long-term investing



Whether you’re an allocator, GP, institutional sales professional, student of the markets, or simply curious about how investment talent is identified and supported, this episode offers a thoughtful, experience-driven look at hedge funds, seeding, and the human side of manager selection.

In this episode of the Dakota Live! Podcast, host Robert Morier welcomes back Chris Schelling for his second appearance on the show—and his first since joining Aksia.

Aksia is one of the world’s leading alternatives research and portfolio advisory firms, advising on approximately $400+ billion across private equity, private credit, real assets, and hedge funds.

With deep institutional roots and a global footprint, Aksia is known for its rigorous manager research, operational due diligence, and portfolio construction expertise—capabilities that have made it a trusted partner to pensions, endowments, sovereign wealth funds, and increasingly, the private wealth channel.

Chris brings a rare perspective to this conversation. Having served as a senior institutional allocator, a multi-family office CIO, and now a Managing Director at Aksia focused on the wealth channel, he sits at the intersection of institutional-grade alternatives and advisor-led portfolio construction.

This conversation goes beyond headlines. Topics include:

• Why Aksia’s institutional research engine matters as alternatives move into private wealth
• How private credit, hedge funds, and private equity are evolving post-2025
• The role of portfolio construction, liquidity management, and governance in alternatives
• Where Chris sees real opportunity—and real risk—across private markets
• What wealth advisors often misunderstand about alternatives (and how Aksia is addressing it)

This episode offers a first look at how Aksia is translating decades of institutional expertise into the wealth channel, and how Chris is helping advisors think more clearly about alternatives—not as products, but as portfolio tools.

If you’re an allocator, advisor, GP, or investment professional navigating the next phase of private markets, this is a conversation worth your time.

In this episode of dakota live, host Robert Morier sits down with Stephanie Szymanski, Chief Investment Officer of Lakeview Capital Management, for a wide-ranging, practitioner-level conversation on how single-family offices actually invest.

Stephanie pulls back the curtain on what it means to run portfolio construction inside a single-family office, covering how family office CIOs think differently from endowments and foundations when it comes to asset allocation, manager selection, liquidity, and after-tax outcomes.

This episode is essential viewing for:
• Asset managers seeking to work with single-family offices
• Emerging managers navigating early allocations
• Allocators and CIOs comparing family office vs institutional models
• Students and analysts interested in family office careers

Topics covered include:
• How single family offices structure multi-asset portfolios across public and private markets
• The role of hedge funds as diversifiers, return enhancers, and risk reducers
• Why many family offices invest earlier than institutions—and how they assess manager risk
• Active vs passive decision-making in global equities
• How family offices evaluate emerging market and ex-US equity managers
• The realities of private equity pacing, distributions, and capacity constraints
• Why many family offices do not focus on direct investing
• Manager due diligence, triangulation, and relationship-driven underwriting
• What asset managers misunderstand most about family offices
• Career advice for analysts and investors interested in allocator roles

Stephanie also shares practical insight into:
• Running a lean investment team
• Hiring and developing junior analysts
• Building conviction without rigid RFP processes
• Why focus and strategy discipline matter more than scale

If you want a real-world look at how single family offices make investment decisions, this conversation delivers clarity, nuance, and uncommon transparency.