Episode 373: Ali Houshmand of EQT - The Emergence of the Chief Question Officer

Ali Houshmand, leads the non-traded REIT initiatives for EQT real estate, where he manages the formation, strategy, and portfolio construction of EQRT - EQT’s first open-ended real estate vehicle in the non-traded REIT space. He previously spent close to a decade at the Texas Permanent School Fund, where he helped build that $50 billion endowment's real estate program. We discuss his career journey and his considerable amount of time spent "in the trenches" of property development and negotiation. We discuss his LP-centric approach while at the Texas Permanent School Fund and how he leaned into championing LP viewpoints in which he offered considerable constructive feedback to manager relationships. He highlights the importance of asking thoughtful questions and building relationships, which AI may not replace. At Texas Permanent, he helped grow the real estate allocation from 6% to 11%, focusing on industrial and operator-led strategies. At EQT, he launched EQRT, emphasizing the need for a clean balance sheet and unique operational capabilities. He also stressed the importance of AI in enhancing investment processes while maintaining human judgment and relationshipA special thank you to our sponsors at Baillie Gifford and GCM Grosvenor. Baillie Gifford is a long-term investment manager, dedicated to discovering the innovations and changemakers that deliver exceptional growth opportunities for you.GCM Grosvenor is a global alternative asset management solutions provider, with more than $90 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return strategies.For over 50 years, the firm has helped investors navigate the complexities of alternative investing through a flexible, open-architecture platform. GCM Grosvenor is also focused on what’s next. Through its Elevate strategy, the firm supports the next generation of private equity leaders, making seed investments in emerging managers and providing the resources, network, and strategic guidance needed to help them grow. With nearly $800 million raised for its inaugural Elevate Fund, GCM Grosvenor is helping drive innovation and expand access across private markets. Learn more at gcmgrosvenor.com.