David Bonderman
Showing 1–8 of 8 transcripts.
- Milken Institute1h 2m
Money Never Sleeps: Global Investment Outlook
Steve Krouskos, David Bonderman, Michael Carmen, Brian Sheth
Panelists in this investment forum assert that technology-driven productivity gains and the digitalization of industries significantly outweigh current geopolitical risks, citing a 700% ROI for software and a critical shortage of IT talent. The discussion highlights a structural shift where companies remain private longer due to regulatory burdens, while private capital increasingly fills credit gaps for high-growth software firms. Looking forward, experts recommend focusing on long-term AI adoption and emerging markets like India over short-term volatility, while warning of potential near-term recessions triggered by premature Federal Reserve rate hikes.
- Milken Institute57 min
Investment Titans: Dispelling the Myth of Emerging Markets
Mark Wiseman, David Bonderman, Binod Chaudhary, Arif Naqvi
A panel of investment leaders and institutional experts redefines emerging markets as "Global Growth Markets," highlighting that these regions now drive 60% of global GDP growth while remaining significantly under-allocated by major pension funds and sovereign wealth funds. Key figures including Arif Naqvi, David Bonderman, and Bino Chaudhry advocate for a shift from public indices to private equity strategies that prioritize local partners, rigorous compliance, and consumer-focused sectors in dynamic economies like India and Southeast Asia. The discussion concludes that successful capital deployment requires agile, long-term approaches capable of navigating political volatility and leveraging technological leapfrogging rather than relying on static acronym-based groupings.
- Milken Institute58 min
Retrospective: Lessons Learned from Leading Investors
Scarlet Fu, David Bonderman, William Ford, Joshua Friedman, Emmanuel Roman, Steven Tananbaum, Steve Tannenbaum, Bill Ford
Prominent investors including David Bonderman, Josh Friedman, and Steve Tannenbaum assess a unique financial landscape marked by an unsustainable thirty-year secular decline in interest rates and the resulting compression of credit spreads. The panel analyzes sector-specific risks in retail and energy while debating the structural advantages of active management and private equity over passive strategies in this volatile environment. Despite current complacency, experts emphasize the necessity of holding dry powder for eventual portfolio re-ranking driven by rising rates and warn that structural changes in market-making could precipitate radical price adjustments.
- Milken Institute1h 1m
Where Does Russia Go From Here?
Matt Winkler, David Bonderman, Ruben Vardanyan, Susan Eisenhower, Carl Theodore, Male Speaker 1
In late 2014, Western sanctions and a 50% collapse in oil prices caused the Russian ruble and MOEX index to become the world's most volatile assets, yet the country began a recovery by early 2015 through stabilized currency values and a 30% growth surge in domestic food retail. Prominent figures including Ruben Vardanyan, David Bonderman, and Susan Eisenhower critique Western policy failures such as NATO expansion and broken agreements, arguing that these actions fueled Russia's strategic drift toward China while leaving the nation without a clear geopolitical identity. The panel warns of escalating nuclear risks due to these tensions but proposes immediate de-escalation through dedicated special envoys, Congressional diplomacy, and the establishment of clear benchmarks for sanction relief.
- Milken Institute1h 16m
Chinese Market Culture: How Well Can You Know a Company? (updated)
David Bonderman, Howard Chao, Benjamin Fanger, John Pattar, James McGregor
This panel explored the structural complexities of China's corporate landscape, ranging from the historical dominance of Township and Village Enterprises to the persistent legal ambiguities of Variable Interest Entity (VIE) structures. Participants detailed how severe challenges in financial transparency necessitate "forensic" due diligence and asset-holding strategies akin to a pawn shop to mitigate enforcement risks in a judicial system lacking full independence. Ultimately, the discussion emphasized that navigating this high-risk environment requires investors to bypass reported earnings for cash flow analysis while closely monitoring specific political reform indicators to anticipate regulatory shifts.
- Milken Institute1h 16m
Chinese Market Culture: How Well Can You Know a Company?
Howard Chow, David Bonderman, Benjamin Fanger, John Pitar, Jim
This presentation details the historical evolution of Chinese enterprise structures from Township and Village Enterprises to the modern State-Owned Enterprise landscape, while highlighting critical investment risks such as dual-book accounting, Variable Interest Entity (VIE) ambiguity, and unreliable official statistics. It outlines specialized mitigation strategies for foreign capital, including the necessity of forensic accounting, direct asset verification, and securing physical company seals to navigate non-independent courts and volatile regulatory environments. Ultimately, the analysis advises investors to bypass manipulated macroeconomic data in favor of cash-flow-focused due diligence using local talent to manage the unique political and legal complexities of the market.
- Milken Institute58 min
Access to Global Capital: Investing in Growth
Seth Marin, Jay Ireland, Jalal, David Bonderman, Bill Pierce, Mindy
The Milken Institute launched its Access to Global Capital Initiative to mobilize private investment into four target nations—Rwanda, Indonesia, Poland, and Colombia—by leveraging improved governance to replicate Singapore's economic transformation over a 20-year horizon. The program addresses a stark capital concentration in the West by prioritizing countries that demonstrate political stability, rule of law, and anti-corruption measures to attract multinational supply chains. Key success factors identified for investors include reliable infrastructure, consistent fiscal policies, and a workforce capable of supporting long-term development, with oversight supported by development finance institutions like OPIC.
- Milken Institute1h 3m
New Directions in Private Equity
Leon Black, David Bonderman, Jonathan Nelson, Jonathan Sokoloff, Scott Sperling, Maria Bartiromo
Despite a 30% drop in private equity deal volume, market leaders like Apollo's Leon Black and TPG's David Bonderman are pivoting from traditional leveraged buyouts to high-growth assets, minority stakes, and distressed opportunities in Europe. While valuations remain stretched due to cheap credit and seller reluctance, firms are prioritizing capital deployment in defensive sectors like media and consumer staples while navigating macroeconomic uncertainty. Panelists anticipate a continued harvest phase over the next 18 months, with capital flows shifting toward customized structures and emerging markets that offer differentiated returns beyond standard GDP growth metrics.