Neo Mooki_1.mp4

Back

Or filter by your interest

Browse all our content

SuperReturn

Unlock all the content with only {{price}}

Neo Mooki.vtt

ENGLISH

{{00:00:04}}
Thank you so much for joining
me here at Superinvestor.

{{00:00:07}}
You are passionate about what
the private markets industry

{{00:00:12}}
could be doing in the world.

{{00:00:13}}
It's why you got into
this in the first place.

{{00:00:16}}
Tell me about that and what
impact you think this industry

{{00:00:19}}
could and should be having.

{{00:00:21}}
I think that this industry should have
a market impact in terms of moving the

{{00:00:27}}
diet, in terms of the money that is
flowing towards delivering positive

{{00:00:31}}
outcomes, not only in societal outcome,
but also from a climate perspective.

{{00:00:36}}
But as

{{00:00:39}}
at the recent COP28 conference, it's
very clear that there exists a big

{{00:00:45}}
gap in terms of the trillions that is
needed to be able to get us to where we

{{00:00:51}}
need to be by 2050, absolute trillions.

{{00:00:55}}
And we can all be in these conferences
talking impact investing, investing.

{{00:01:01}}
But for me there is still quite a lot
that we need to do to encourage asset

{{00:01:08}}
owners such as myself to make sure
that there is sufficient Regulation

{{00:01:13}}
incentives in place to make sure that we
are able to be comfortable and confident

{{00:01:19}}
in diverting assets into the space.

{{00:01:23}}
And secondly, I think another area where
we could make a real difference if we're

{{00:01:29}}
going to really scale impact investing is
to recognize the diversity of the funding.

{{00:01:37}}
rounds that is needed to
push the space forward.

{{00:01:41}}
And one specific area where I spend time
with a few startups where there is a real

{{00:01:51}}
shortage in terms of funding going into
that space because not only has impact

{{00:01:56}}
investing has proven its business case.

{{00:01:58}}
It's been proven that You don't have to
put to rely on concessionary capital to

{{00:02:04}}
deliver impact, actually impact investor.

{{00:02:07}}
You can invest for impact and also
deliver at or above market returns.

{{00:02:13}}
However, there is still The fear
to divert funding into these spaces

{{00:02:18}}
specifically into areas where we are
still at the early stage and needing

{{00:02:24}}
to help these entrepreneurs cross
the desert from the below market

{{00:02:31}}
rate into actual full market returns.

{{00:02:34}}
So you'd say there's a bit of a
drought at that early sort of VC stage.

{{00:02:37}}
That's where money is really crucial
to get these things off the ground.

{{00:02:41}}
Absolutely.

{{00:02:41}}
And I think if we're going to scale.

{{00:02:44}}
We need to be able to scale
businesses right across the board

{{00:02:48}}
and Not just support the big GP sort
of the big the okay cares etc Who

{{00:02:54}}
are already swimming in the money?

{{00:02:56}}
We need to bring everybody along because
again it is these also smaller companies

{{00:03:00}}
that are actually on the ground, right?

{{00:03:02}}
that are actually it's your Wine
Vineyard a family, you know that is also

{{00:03:11}}
delivering food social impact on the
ground in France, et cetera, et cetera.

{{00:03:15}}
So we need to be looking at making
sure that capital is trickling

{{00:03:20}}
through the whole ecosystem in order
for us to scale, to get to the point

{{00:03:25}}
where we need to get to by 2050.

{{00:03:27}}
And there's quite a different
view in Europe to the US as well.

{{00:03:30}}
That's quite a significant difference.

{{00:03:32}}
There's a huge difference.

{{00:03:35}}
The Europe is a lot more evolved.

{{00:03:39}}
And I think it's driven
by a lot of things.

{{00:03:41}}
I think it's driven by sort of regulation.

{{00:03:45}}
I think it's supportive.

{{00:03:47}}
We've got regulation that is being
put in place to make sure that asset

{{00:03:52}}
owners such as myself get comfortable
with deploying capital because they're

{{00:03:56}}
going to get transparency through the
reporting coming through from where

{{00:04:01}}
they are making these investments.

{{00:04:02}}
And that is what gives
policyholders comfort as well.

{{00:04:06}}
So the more That those frameworks are
put in place actually the more comfort

{{00:04:11}}
that asset owners will get to put more
money So europe's great in terms of being

{{00:04:15}}
supportive, but what's really driving
that what's driving that is the people

{{00:04:19}}
on the ground legal in general did a
study last year as early as I think it

{{00:04:25}}
was a few months ago potentially where
they tested sort of the market to say You

{{00:04:31}}
know, where should we be building content?

{{00:04:34}}
You And, an overwhelming number
of policy holders said we want,

{{00:04:40}}
we are values aligned investors,
specifically the young ones, right?

{{00:04:44}}
Not us, right?

{{00:04:45}}
The young ones.

{{00:04:47}}
They are values aligned in every way.

{{00:04:49}}
And they were even saying that they're
willing to pay more in fees in order

{{00:04:54}}
to, be able to allow legal and general,
in general to invest in impact.

{{00:05:00}}
And what that meant is that more and
more asset managers, more and more.

{{00:05:05}}
Investment managers are creating,

{{00:05:09}}
impact funds in order to be
able to meet this demand.

{{00:05:14}}
And legal in general did the same.

{{00:05:17}}
We did that in my previous job at
Aberdeen, where we basically created,

{{00:05:22}}
we needed to create impact funds
in order to stop the hemorrhaging.

{{00:05:26}}
So Europe is great.

{{00:05:28}}
It's supported by the community
because the hearts and minds are

{{00:05:31}}
there, especially of the young people.

{{00:05:33}}
And the legislation is supportive.

{{00:05:35}}
When you move to the U.

{{00:05:36}}
S.

{{00:05:37}}
It's harder.

{{00:05:38}}
It's more driven by tax incentives, and
these tax, incentives are more in, I

{{00:05:44}}
would say in the social housing space
and in the renewable energy space.

{{00:05:51}}
Apart from that, actually,
the rhetoric in the U.

{{00:05:54}}
S.

{{00:05:56}}
Is a little bit.

{{00:05:57}}
It's a lot more behind
than the UK and Europe.

{{00:06:02}}
And in some states, it's actually anti
ESG and anti impact in despite the fact

{{00:06:08}}
that the business case has been proven.

{{00:06:10}}
So you could be about to change again
with a new president in the White House.

{{00:06:14}}
This pic.

{{00:06:15}}
I think that picture is going to change.

{{00:06:17}}
I think what you saw More recently
with the previous administration

{{00:06:22}}
was a little bit of a warming up
towards, moving on with the pace of

{{00:06:28}}
the world, opening up more public,
private partnerships to support,

{{00:06:37}}
to incentivize asset owners to.

{{00:06:40}}
essentially pour money into infrastructure
that is going to support the climate

{{00:06:46}}
transition, et cetera, et cetera.

{{00:06:47}}
But with the current administration,
I think I, I won't say more, but

{{00:06:52}}
I think it's going to be a very
interesting four years to come.

{{00:06:57}}
When you're looking forward
now, new administration.

{{00:07:03}}
Understanding that's there.

{{00:07:05}}
What do you hope to see next?

{{00:07:07}}
And what are you hopeful about in terms
of what this industry are starting to talk

{{00:07:12}}
about when you're at an event like this,
the conversations that are happening?

{{00:07:16}}
Do you have faith that dial, as
you described, it will be shifting?

{{00:07:20}}
I have faith that

{{00:07:23}}
the dial is shifting.

{{00:07:25}}
I have faith that the imperative for
being intentional about allocating

{{00:07:31}}
capital to support the climate transition

{{00:07:36}}
is reaching everybody.

{{00:07:38}}
I think it's set in reaching asset owners.

{{00:07:40}}
And as Emma recently asset owners right
across Europe specifically they all

{{00:07:50}}
committed to the net zero targets, which
means that they have targets that they

{{00:07:56}}
need to meet in terms of allocating
money towards the climate transition.

{{00:08:01}}
So I am hopeful, but in order
for us to get to that point.

{{00:08:04}}
to that place where we are getting people
comfortable with basically bridging that

{{00:08:09}}
huge funding gap, then certain needs to be
certain things that need to be in place.

{{00:08:15}}
We need to make sure that we've got
the standardized frameworks that

{{00:08:20}}
allow the transparency that give
asset owners The comfort to invest.

{{00:08:26}}
You have to think about asset owners
being people like me, actuaries.

{{00:08:30}}
We are risk driven, right?

{{00:08:32}}
More than anything, right?

{{00:08:34}}
And, if you're talking to me about
investing in a village in Africa

{{00:08:37}}
where I'm from, I'm going to be
like, Neil, are you kidding me?

{{00:08:40}}
Am I ever going to get my money back?

{{00:08:41}}
So you, so we need to have those,
the frameworks that are consistent.

{{00:08:46}}
across the regions in place.

{{00:08:48}}
We need to be intentional about putting
those in place because what do those do?

{{00:08:52}}
It's not about monitoring, it's
about giving asset owners comfort.

{{00:08:57}}
It's about giving your actuaries,
such as Masem, reassurance in being

{{00:09:01}}
able to allocate a wider share of the
risk budget towards impact investing.

{{00:09:08}}
So that's one.

{{00:09:09}}
Specifically because that
business case has been proven.

{{00:09:13}}
We need to continue as an industry
to to prove the business case

{{00:09:19}}
because not everybody still buys it.

{{00:09:21}}
And what we need to do is to
address issues such as greenwashing.

{{00:09:25}}
We, because that sets us back
when you get a company that is

{{00:09:29}}
prominent or there's a big company
and they come out with allegations

{{00:09:34}}
of greenwashing, that sets us back.

{{00:09:36}}
So the frameworks, proper measures
in place, We need to have a

{{00:09:42}}
strong stakeholder engagement.

{{00:09:44}}
Gone are the days, and
I'm I design solutions.

{{00:09:48}}
Gone are the days, I'm aware, I would sit
with my team of techies in a lab and come

{{00:09:54}}
up with products and put it on a shelf
and just start flogging it to people.

{{00:09:58}}
I'm glad GPs I'm, glad a lot
of people understand this now.

{{00:10:02}}
I'm glad that investment, asset
managers understand this now.

{{00:10:05}}
You need to engage with people.

{{00:10:08}}
the people on the ground, the stakeholders
to understand what it is that they

{{00:10:11}}
want, because only then is our kind of
the solutions that we provide, impact

{{00:10:17}}
solutions are going to be authentic.

{{00:10:20}}
And everyone's pulling
in the same direction.

{{00:10:21}}
And everybody's pulling
in the same direction.

{{00:10:24}}
So, that is what I'm hopeful for.

{{00:10:26}}
I'm hopeful for more, but we need to do
more as an industry in terms of those two

{{00:10:32}}
areas to make sure that we're giving more.

{{00:10:35}}
our asset owners comfort, but we're
also bringing everybody along.

{{00:10:38}}
I look forward to continuing this
conversation in the future, Neo, and

{{00:10:40}}
seeing, watch this space, as they say.

{{00:10:42}}
Absolutely.

{{00:10:43}}
Watch this space, especially
the next four years in the US.

{{00:10:47}}
Thanks so much.

{{00:10:48}}
Absolutely.

{{00:10:48}}
Great to talk to you.

{{00:10:49}}
Wonderful to talk to you too.

Thank you so much for joining
me here at Superinvestor.

You are passionate about what
the private markets industry

It's why you got into
this in the first place.

Tell me about that and what
impact you think this industry

I think that this industry should have
a market impact in terms of moving the

diet, in terms of the money that is
flowing towards delivering positive

outcomes, not only in societal outcome,
but also from a climate perspective.

at the recent COP28 conference, it's
very clear that there exists a big

gap in terms of the trillions that is
needed to be able to get us to where we

And we can all be in these conferences
talking impact investing, investing.

But for me there is still quite a lot
that we need to do to encourage asset

owners such as myself to make sure
that there is sufficient Regulation

incentives in place to make sure that we
are able to be comfortable and confident

And secondly, I think another area where
we could make a real difference if we're

going to really scale impact investing is
to recognize the diversity of the funding.

rounds that is needed to
push the space forward.

And one specific area where I spend time
with a few startups where there is a real

shortage in terms of funding going into
that space because not only has impact

It's been proven that You don't have to
put to rely on concessionary capital to

deliver impact, actually impact investor.

You can invest for impact and also
deliver at or above market returns.

However, there is still The fear
to divert funding into these spaces

specifically into areas where we are
still at the early stage and needing

to help these entrepreneurs cross
the desert from the below market

So you'd say there's a bit of a
drought at that early sort of VC stage.

That's where money is really crucial
to get these things off the ground.

We need to be able to scale
businesses right across the board

and Not just support the big GP sort
of the big the okay cares etc Who

We need to bring everybody along because
again it is these also smaller companies

that are actually it's your Wine
Vineyard a family, you know that is also

delivering food social impact on the
ground in France, et cetera, et cetera.

So we need to be looking at making
sure that capital is trickling

through the whole ecosystem in order
for us to scale, to get to the point

And there's quite a different
view in Europe to the US as well.

And I think it's driven
by a lot of things.

I think it's driven by sort of regulation.

We've got regulation that is being
put in place to make sure that asset

owners such as myself get comfortable
with deploying capital because they're

going to get transparency through the
reporting coming through from where

And that is what gives
policyholders comfort as well.

So the more That those frameworks are
put in place actually the more comfort

that asset owners will get to put more
money So europe's great in terms of being

supportive, but what's really driving
that what's driving that is the people

on the ground legal in general did a
study last year as early as I think it

was a few months ago potentially where
they tested sort of the market to say You

know, where should we be building content?

You And, an overwhelming number
of policy holders said we want,

we are values aligned investors,
specifically the young ones, right?

And they were even saying that they're
willing to pay more in fees in order

to, be able to allow legal and general,
in general to invest in impact.

And what that meant is that more and
more asset managers, more and more.

impact funds in order to be
able to meet this demand.

We did that in my previous job at
Aberdeen, where we basically created,

we needed to create impact funds
in order to stop the hemorrhaging.

It's supported by the community
because the hearts and minds are

It's more driven by tax incentives, and
these tax, incentives are more in, I

would say in the social housing space
and in the renewable energy space.

Apart from that, actually,
the rhetoric in the U.

It's a lot more behind
than the UK and Europe.

And in some states, it's actually anti
ESG and anti impact in despite the fact

So you could be about to change again
with a new president in the White House.

I think what you saw More recently
with the previous administration

was a little bit of a warming up
towards, moving on with the pace of

the world, opening up more public,
private partnerships to support,

essentially pour money into infrastructure
that is going to support the climate