General Investing >> Money Manager Interviews >> March 7, 2011
Michael D. Underhill is the CIO of Capital Innovations, LLC. He has pioneered several unconventional portfolio strategies that are now widely applied, including listed infrastructure, listed timber and listed agribusiness investment strategies. His investment strategies have been featured in The New York Times, Pensions & Investments, Institutional Investor magazine, the Financial Times, Investments & Pensions Europe, The Economist and numerous Dow Jones publications. Mr. Underhill has been a frequent contributor to leading financial journals and books, is the author of best-selling The Handbook of Infrastructure Investing and is a Faculty Member at the CFA Institute, where he teaches an infrastructure investing class to existing charterholders. Prior to founding Capital Innovations in 2007, Mr. Underhill was a Vice President of Institutional Accounts at AllianceBernstein L.P., where he worked with some of the world's largest corporate defined benefit plans. Prior to that, Mr. Underhill was a Vice President of Institutional Accounts at Invesco Ltd. in a similar role, and he had additional exposure to subadvisory account management for large financial institutions. At Janus Capital Group Inc., he built up the nascent institutional fixed-income, money management capabilities as a complement to their burgeoning mutual fund business in the mid-1990s. Mr. Underhill started his career at Lehman Brothers as a Quantitative Analyst utilizing his statistical econometric background to construct financial models. Mr. Underhill graduated from The Pennsylvania State University with a degree in economics and a curricular emphasis in statistical econometrics. He has also completed postgraduate coursework at Pepperdine University and Stanford Law School, and he participated in the Mercosur economic studies at the Universidad Del Salvador on cross-border trade in Latin America in 1998. Mr. Underhill sits on the real assets committee for the Chartered Alternative Investment Analyst (CAIA) Association and is a Founding Member of the Steering Committee for the United Nations' Principles for Responsible Investment. Profile
TWST: Please start with a brief history of Capital Innovations and how you got started in the type of investing on which you are focused.
Mr. Underhill: I started out in the late 1980s as a
