About this episode
How should families think about portfolio construction when traditional diversification breaks down?
David Weisburd speaks with Michael Phipps about building New Republic Partners, designing portfolios around growth, income, and diversification, and why open architecture matters in multifamily offices. Michael discusses common portfolio mischaracterizations, the role of alternatives and co-investments, and how families can better align risk, liquidity, and long-term objectives.
Highlights:
Building a conflict-free, open-architecture multifamily office
Designing portfolios around growth, income, and diversification
Why fixed income may no longer provide true diversification
The role of absolute-return strategies as portfolio ballast
How families should think about drawdowns and risk tolerance
Separating hedged equity from true diversifiers
Opportunistic use of secondaries in private markets
Benefits and risks of co-investments
Structural challenges facing sub-$250M family offices
Endowment model versus total portfolio approach
Guest Bio:
Michael Phipps is a Partner at New Republic Partners, a multifamily office serving families, foundations, and endowments across the Southeast. He has extensive experience in portfolio construction, manager selection, and alternative investments, and previously worked in institutional investing roles including at university endowments. Michael’s work focuses on aligning portfolios with long-term objectives, risk tolerance, and liquidity needs through an open-architecture approach.
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We’d like to thank AlphaSense for sponsoring this episode!
Sponsor:
AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest/ to learn more.
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Stay Connected with Michael Phipps:
LinkedIn: https://www.linkedin.com/in/michael-phipps-
