Podcasts · VC10X - Investing, Venture Capital, Asset Management, Family Office, Wealth Management

LP10X - Advising $90 Billion in Institutional Capital - Nolan Bean, CIO, FEG Investment Advisors

10 Feb 2026 · 39 min

How do the world’s smartest institutional investors actually allocate capital?

In this episode, we sit down with Nolan, a veteran CIO with over two decades of experience allocating capital for endowments, foundations, family offices, and healthcare systems — overseeing more than $90B in assets across public and private markets.

We go deep into how institutions think about risk, liquidity, and long-term returns, why venture capital remains a power-law game, and how investors are navigating today’s biggest shifts — from AI and private credit to diversification risks and market cycles.

This conversation pulls back the curtain on how capital is really deployed behind closed doors — especially in a world where exits are slower, fundraising is harder, and everyone is asking whether we’re closer to 1997… or 1999.

⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.com

What you’ll learn in this episode:

- How institutions decide how much risk they can truly take

- Why venture capital allocations haven’t disappeared — but have slowed

- Private credit vs venture capital: how LPs actually think about the trade-off

- How AI is reshaping portfolios across public and private markets

- Why diversification matters more now than during bull markets

- What CIOs are watching for as we head into 2026

Whether you’re a fund manager, LP, founder, or just curious about how institutional money really works, this episode offers rare, first-principles insight into long-term capital allocation.

(00:00) - Podcast Teaser: Risk, Returns, and Venture Capital

(00:48) - Introduction to Nolan Bean and FEG Investment Advisors

(02:20) - Nolan's Career Journey: From Associate to CIO

(03:16) - What is FEG and the Outsourced CIO (OCIO) Model?

(05:18) - The Four Key Risks for Institutional Investors

(08:32) - Ranking Institutions by Risk Appetite

(10:20) - A Breakdown of Institutional Asset Classes

(13:05) - Institutional Openness to New Investment Strategies

(15:30) - The Evolving Landscape of Venture Capital

(17:36) - Why VC Fundraising Has Slowed Down

(19:12) - Venture Capital vs. Private Credit: An Institutional Debate

(21:32) - Current Institutional Preferences in VC Funds (Stage & Sector)

(24:01) - Evaluating the Risk of an AI Bubble

(26:54) - Domestic vs. Global Allocations

(29:19) - The Unspoken Need for Diversification

(31:29) - Commodities as a Portfolio Hedge

(34:29) - Advice for Fund Managers Raising Capital

(36:22) - Market Outlook and Expectations for 2026

Connect with Nolan:

https://www.linkedin.com/in/nolanbean/

Podcast Links:

Prashant Choubey - https://www.linkedin.com/in/choubeysahab

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VC10X website - https://vc10x.com

For sponsorship queries, reach out to prashantchoubey3@gmail.com

Links in the notes 8

• https://podcast10x.com
• https://www.linkedin.com/in/nolanbean/
• https://www.linkedin.com/in/choubeysahab
• https://vc10x.beehiiv.com
• https://youtube.com/@VC10X
• https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986
• https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQ
• https://vc10x.com

The episode on the publisher’s site ↗ (opens in a new tab)