Podcast episode
Episode 209 – Marks on the Market: How God Is Moving Through Faith-Driven GPs Across the Private Markets
Join hosts Richard Cunningham and Luke Roush alongside special guests Andrew Behrman and Jonathan Carvalho Pruna of Sovereign’s Capital for FDI’s November Marks on the Market episode. With over 130 general partners from across private equity, venture capital, real estate, and private credit in attendance, this episode captures the heart of a movement where faith and capital are converging for Kingdom impact.
All opinions expressed on this podcast, including the team and guests, are solely their opinions. Host and guests may maintain positions in the companies and securities discussed. This podcast is for informational purposes only and should not be relied upon as specific investment advice for any individual or organization.
Episode Notes
Over 130 faith-driven fund managers gathered at Wheaton College for a landmark event showcasing how Kingdom-minded investors are operating across private equity, venture capital, real estate, and private credit. Richard Cunningham hosts Luke Roush, Andrew Behrman, and Jonathan Carvalho Pruna to discuss key insights from the 3rd Annual Faith Driven Investor Fund Manager Gathering.
From healthcare and education investing amid regulatory upheaval to the explosive growth of secondary markets addressing liquidity constraints, this conversation reveals how faith-driven managers are navigating unprecedented market conditions. The discussion explores spiritual integration practices including broad-based employee ownership programs at Riverside Value Fund and chaplaincy initiatives at Brinley Fire Services, demonstrating how intentional faith integration creates both Kingdom impact and operational excellence.
Hear about the evolution from capital structure-driven returns in the 1980s to today’s reality where 60-70% of private equity returns must come from operational value creation. Learn why secondary transaction volume has nearly doubled since 2019 and is projected to reach $330 billion by 2029. Discover how faith-driven approaches to stewardship, employee care, and portfolio company culture are setting new standards for excellence in asset management.
CHAPTERS
00:00 Introduction to Fund Manager Gathering Recap
02:26 Overview of 130+ Managers Across Asset Classes
03:45 First Panel: Healthcare, Education, Growth Equity & Secondaries
09:41 Diversity of Approach Across Faith-Driven Managers
11:09 Healthcare System Challenges and Faith-Driven Solutions
14:18 Operational Value Creation as Primary Return Driver
16:54 Healthcare and Education Sector Transformation
19:00 Secondary Markets: The Perfect Storm
23:02 Democratizing Access to Private Markets
24:14 Spiritual Integration: Employee Ownership Programs
26:53 Riverside Value Fund’s Countercultural Approach
29:49 Ownership Works and Broad-Based Employee Equity
31:29 Workplace Chaplaincy as Universal SI Practice
34:20 Afternoon Sessions: Markets, Culture, Founder Care
36:54 Stewardship and Frontline Employee Impact
38:47 Standing in Awe of God’s Movement
40:47 Alex Jones on Hallow: Recognizing God’s Authorship
42:21 Challenge to Steward Resources Faithfully
43:51 If Not Us, Who? If Not Now, When?
45:50 Scripture Discussion: Service, Love, and Reproducing Leaders