Tracy Stuart has never shied away from trying new things in her career and building businesses.
As a student, Stuart knew she wanted to travel. She was the first analyst sent abroad by Wilshire Associates to Europe to evaluate equity managers.
“Working at an investment consultant is such a great way to learn the industry and to start your career,” she said. “It taught me to understand the needs of the client, to advocate for clients … I’ve carried this on. Clients are at the center of this universe.”
Stuart focused on clients working with John Casey building the business that would become Casey Quirk and later at Goldman Sachs where she built an open-architecture investment program.
In 2004, “hedge funds were new” and Stuart joined the predecessor hedge fund-of-funds business that she’d transform into Corbin Capital Partners, growing it from a few hundred million into an over $9 billion firm. As CEO, Stuart has evolved Corbin into an alternatives manager focused on hedge funds and opportunistic credit investing, including spearheading a sustainability practice, and said her job is focused on “how we’re going to keep evolving.”
Stuart thinks hedge funds and private equity are still some of the “worst parts of the industry in terms of diversity.” But what has changed since she started her career is “people are now conscious that they should be doing something” and the industry’s largest firms are working on it.
Corbin has tried to lead by example with women or minorities representing 61% of the investment team and 54% of its partners.
Stuart advises young people in the industry to nurture an open mindset, solicit direct, honest feedback and to “prioritize, know what’s important, and learn to say ‘no.’”