Advertise on podcast: The Exchange by EW&L Private Wealth

Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, Tim Whybourne is joined by BFA Global Investors Co-Founder and Global CEO Jonathan Belz to discuss why the AI opportunity could be far bigger, and earlier, than many investors appreciate. They unpack the race for compute and energy, the shift from building AI to deploying it across the real economy, opportunities in healthcare, defence and physical AI, and why some of the most compelling companies are remaining private for longer. They also explore BFA’s new Frontier Fund and its approach to accessing high-growth, late-stage private companies. If AI represents a genuine platform shift rather than simply another technology cycle, this conversation explores what that could mean for investors Jonathan has more than twenty years of experience across Goldman Sachs, Credit Suisse and the Victor Smorgon Group. He was named Executive of the Year at the 2025 Australian Money Management Awards. Intended for wholesale and sophisticated investors only. Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next! This episode is a recording of an in-person webinar presentation held on Tuesday 15th September, featuring Cathie Wood, Founder, CEO and CIO of ARK Invest. Cathie discusses ARK's technology-platform approach to research, covering artificial intelligence, robotics, energy storage, blockchain, and multi-omic sequencing, and the convergence between these platforms. She sets out ARK's macroeconomic view, including an expectation of accelerating global real GDP growth and declining inflation as technology costs fall, and outlines the structure and positioning of the newly launched ARK Venture Fund (Australian Feeder), including its private-to-public allocation target and quarterly liquidity mechanism. The conversation also covers embodied AI in autonomous transportation, AI's application in drug discovery and early disease diagnosis, and ARK's long-held position in Bitcoin and digital assets. This content is produced for wholesale and sophisticated investors only and does not constitute personal financial product advice. Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, Tim Whybourne sits down with Qiao Ma, Equity Partner and Portfolio Manager at Munro Partners, where she leads the Global Growth Small and Mid Cap strategy. Qiao built her career in New York across Lehman Brothers, Coatue Management and Jericho Capital, before relocating to Melbourne, where she spent five years at Cooper Investors as sector head for internet and technology and later as portfolio manager. She joined Munro in 2023 to launch its small and mid cap strategy, which returned 62.2% in its first year, led by an early high-conviction position in AppLovin that grew roughly tenfold. Qiao explains Munro's S-curve framework for identifying structural change before the market prices it in, and why the fund is built around finding "small boats with big sails" - companies with a genuine edge in enormous markets, rather than dominant players confined to small ones. She walks through the discipline behind Munro's sell process, including a full team review triggered whenever a stock falls 20%, and why no single "area of interest" is allowed to exceed 20% of the portfolio. The conversation also covers Munro's current positioning across the AI supply chain, travel and aerospace parts and services as a structural theme, and how the firm's profit-sharing model aligns its investment team with client outcomes. For investors interested in small and mid cap growth and disciplined stock-picking, this episode offers a close look inside one of Munro's flagship strategies. Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next! He's coached an Olympic gold medallist, worked pitch-side in the AFL, and spent fifteen years studying human consciousness — now he's on a mission to change the way men think about their own wellbeing. In today's episode, Managing Partner Craig Emanuel sits down with John Toomey, Global Chair of the Global Wellness Institute's Men's Wellbeing Initiative. Why is men's health suddenly a global policy priority, and what's still standing in the way? John is one of the world's leading voices on men's wellbeing. CEO of The Wellbeing Thought Leaders and Global Chair of the Global Wellness Institute's Men's Wellbeing Initiative, he has delivered over 3,800 corporate presentations worldwide and is the author of "In it for the Long Haul," a guide for FIFO workers and their families now heading into its third edition. Earlier in his career John worked as a conditioning coach and nutritionist in the AFL and coached an Olympic gold medallist, before turning his focus to the whole person. In January 2026, GoWell Magazine named him among the top 25 male voices in wellness globally. Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, Mitchell Finnen sits down with Perry Cross and Tom Ray, Co-Founders of Accessible Homes Australia, to explore one of the most overlooked corners of Australian social infrastructure, specialist disability accommodation.  Perry sustained a spinal cord injury at 19 and spent decades in a system that wasn't built for him. Today he lives independently in a purpose-designed, voice-activated apartment on the Gold Coast. It's not just a better home. It's a different life.  Together, Perry and Tom break down how their clustered independent living model can save the NDIS up to $75,000 per person per year compared to conventional care arrangements, a counterintuitive finding the system has been slow to embrace. They also walk through their newest development in Hervey Bay: a self-sufficient village with onsite hydrotherapy, adapted gymnasium, and 24-hour care, built for people who want independence, not an institution.  If you've ever thought about impact investing, social infrastructure, or simply what it means to build something that matters, this episode is for you.  Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next! Most business owners aren't ready to sell.  Not because they don't want to. Because the structure, the documents, and the conversations that make a deal work, they never happened.  Managing Partner Tim Whybourne sat down with Christine Fleer and Rebecca Zwier of Arnold Bloch Leibler, the firm behind 40% of Australia's AFR Rich List, to talk about what exit-ready actually looks like.   The short version: the families who get the best outcomes start preparing years before anyone makes an offer.  They discuss in this episode of The Exchange:  → The structural traps that quietly cost sellers at the deal table  → What the ATO is coming for, and what to fix before they do  → Why you should be doing due diligence on your buyer, not just the other way around  → How to pass on wealth to the next generation without taking away their reason to work for it.  If you own a business, or advise someone who does, this one is not to be missed.  Listen here for the entire interview:   Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, Tim Whybourne sits down with Jonathan Belz, Global CEO and Co-Founder of BFA Global Investors, an investment manager built to give Asia-Pacific family offices and sophisticated investors direct access to top-tier US venture managers and transformative private companies. Jonathan brings more than twenty years of experience across Goldman Sachs, Credit Suisse, and the Victor Smorgon Group, and has been behind some of the most notable private market allocations in Australia, including early positions in Anthropic, OpenAI, and SpaceX.   Together, they explore why the most significant value creation of our lifetime is happening in private markets, how AI is compounding on top of technology cycles that are still far from mature, and why the opportunity beneath the hyper-scalers is larger than most investors appreciate. They also unpack the structure and investment thesis behind BFA's Vintage Fund, covering fund selection, co-investment access, return targets, and how to think about liquidity over a five-to-ten-year horizon. Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, Charles Troian sits down with Michael Lukin, Partner at Roc Partners, to explore why the Australian mid-market remains one of the most compelling and undercapitalized opportunities in private equity today.  With 30 years in the industry, beginning at Macquarie Bank before a management buyout formed Roc Partners in 2014, Michael brings a rare depth of perspective on how the asset class has evolved. He breaks down why the $50 million to $1 billion segment of the Australian market is structurally underserved by capital, how private equity has shifted from financial engineering to genuine operational value creation, and which sectors are attracting the most conviction right now.  The conversation also covers Roc's Summit Fund, their evergreen vehicle built to give private wealth investors simpler, more flexible access to Australian mid-market private equity, and why buyout is better suited to that structure than venture capital.  If you've been thinking about how private equity fits into a long-term portfolio, this episode is a good place to start. Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next! 30 June is closer than most people are ready for. If this has been a strong financial year — or you're carrying a tax liability you haven't yet addressed — there are still options on the table. But not for long. Tim Whybourne, CFA sits down with estate planning lawyer Rachael Rofe for a candid hour on intergenerational wealth transfer, tax strategy, and structured giving. Rachael spent a decade leading Australia's largest donor-advised giving fund — helping more than 700 families direct over $500 million in philanthropic capital — before returning to private practice. She knows this space as well as anyone. Australia is entering the largest intergenerational wealth transfer in its history. Most families aren't ready — not legally, and not relationally. This conversation covers both. What we get into: Why silence is the single biggest mistake wealthy families make — and how unspoken, unequal decisions fracture families after the will is readWhy a basic will no longer cuts it: super, family trusts, and jointly held assets all pass outside itBinding death benefit nominations and the death benefits tax of up to 17% most people don't see comingDivision 296 and the quirk that can leave some beneficiaries taxed on super they never inheritThe proposed budget changes to testamentary trust taxation — and why discretionary testamentary trusts still belong in even modest estate plansStructured giving before 30 June: turning a tax liability into impact you directPrenups, binding financial agreements, and protecting wealth passed during your lifetimeWhat a genuinely successful wealth transition looks like — confident, capable, and loved Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange by EW&L, Tim Whybourne sits down with Jeff Schulz, Head of Economic and Market Strategy at ClearBridge Investments, to discuss the forces shaping the next decade of investing. Jeff is the architect of ClearBridge’s widely followed Anatomy of a Recession framework, a dashboard tracking key indicators across the U.S. economy to identify shifts in recession risk and market conditions. Together, they explore whether the Federal Reserve’s cutting cycle is over, if elevated equity valuations are a warning sign or misunderstood, and whether the recent rotation in market leadership has staying power. They also discuss geopolitical tensions, energy security, and whether the world has enough energy infrastructure to support the AI revolution. The conversation also dives into the long-term implications of artificial intelligence, from its potential impact on unemployment and productivity to whether universal basic income could eventually become reality. This is a wide-ranging discussion on markets, macro-economics, AI, geopolitics and what the investment landscape could look like over the next 10 years. Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next! EW&L's Tim Whybourne sat down with Mark Arnold and Jason Orthman, CIO and Deputy CIO of Hyperion Asset Management, to talk through what may be the most consequential investment backdrop of our careers.  Hyperion manages over $13 billion with a single conviction: find companies that compound earnings at double-digit rates and hold them long enough for the market to agree. In practice, that requires a pain tolerance most investors don't have.  In this episode, Mark and Jason make the case that quality growth stocks, the ones most people think are expensive, are deeply undervalued on a 10-year view. They walk through how they repositioned ahead of the SaaS unwind, why they see AI as a structural shift rather than a theme, and what it means to own the full stack rather than bet on individual applications.  Their forecast: 25% EPS growth across the portfolio. The current drawdown, in their view, is the entry point.  Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, Charles Troian sits down with Sueann Yeo, Managing Director and Head of Asia-Pacific Private Wealth Client Relations and Capital Raising at EQT, one of the world’s leading private markets investment firms.  Sueann shares insights into EQT’s investment philosophy and how the firm’s Nordic heritage of active ownership shapes its approach to building better businesses through operational improvement and long-term value creation. She also discusses the growing role of private wealth in private markets and how platforms such as EQT Nexus are expanding access to institutional-quality private equity strategies for individual investors.  The conversation explores the structural opportunities EQT sees across Europe and Asia, why complexity and fragmentation can create attractive investment opportunities, and how investors should think about incorporating private markets into long-term portfolio construction.  For investors seeking global diversification and exposure to private markets, this episode offers a thoughtful perspective on where opportunities may lie in the next phase of the asset class’s evolution. Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next! EW&L's Tim Whybourne sat down with Libby Cantrill, Managing Director and Head of Public Policy at PIMCO, one of the most sought-after voices at the intersection of Washington and Wall Street.  With $2 trillion under management and 20 years translating political complexity into investment insight, Libby doesn't deal in noise. She deals in signal.  In this conversation, Tim and Libby covered:  → Why markets consistently misread Washington's power structure  → The Iran conflict and what elevated oil prices mean for the US consumer   → America's $36 trillion debt problem and the 2033 inflection point nobody is talking about  → The 2026 midterms and the single variable that matters most to markets   → Why China's technological ambition is the underpriced geopolitical risk of our time  One of the most substantive macro conversations we've had on the show. Essential listening for anyone serious about understanding how policy shapes portfolios.  Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next! Can 'skin in the game' make a real difference for investors? Does Mark Zuckerburg regret not selling Facebook for $1Billion to Yahoo when he was only 22?  In today’s episode of The Exchange, Managing Partner Craig Emanuel sits down with Lawrence Lam, Founder of Lumenary Investment Management and Author of the book The Founder Effect: Three Pillars of Success in Founder-Led Companies. The book explores a simple but powerful question: Why do some companies led by their founders massively outperform markets, while others flame out spectacularly? Lawrence argues that founder-led businesses often possess unique advantages but only when certain traits are present.  Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.

Let us know your thoughts, questions, and who you want to hear from next! In this episode of The Exchange, Charles Troian sits down with Adam Reisler, Partner in the Infrastructure and Real Assets team at StepStone Group, to explore how infrastructure has evolved from a niche institutional allocation into one of the fastest-growing asset classes in private markets. Adam reflects on how the opportunity set has expanded well beyond traditional assets such as toll roads and utilities into digital infrastructure, energy transition and the power systems required to support the global build-out of AI and data centres. He also shares how the asset class has matured over the past two decades and why infrastructure today offers a unique combination of defensive characteristics and structural growth. The conversation explores the rise of infrastructure secondaries, how investors gain access to high-quality assets that rarely come to market, and why deep data, manager relationships and disciplined underwriting are critical in navigating an increasingly complex private markets landscape. Disclaimer:  The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients.  That means the information does not consider your objectives, financial situation or needs.  You should consider if the information is appropriate for you and your needs.  You should always consult your trusted licensed professional adviser before making any investment decision.