Hester Cai serves as a Portfolio Manager for TMRS with a focus on private credit. Previously, she was a portfolio manager on MassMutual’s alternative investment team, focusing on strategic and alternative investments for the company’s general account. Prior to joining MassMutual, she was with PIMCO’s Financial Institutions Group, advising banks and insurance companies on fixed income strategies. Hester started her career working on derivative hedging and pricing at AEGON USA Investment Management and Aviva Investors.
Hester holds an MBA degree (honors) from the University of Chicago Booth School of Business and a bachelor’s degree (high distinction) from the University of Iowa. She is a CFA, CAIA and FRM charter holder.
Favorite investment quote:
You get recessions, you have stock market declines. If you don’t understand that’s going to happen, then you’re not ready, you won’t do well in the markets.”
– Peter Lynch
What should GPs know about you?
I prefer managers who show that they can: 1) keep investment discipline, especially in a recessionary environment or when their core strategies become less attractive, 2) always maintain strong alignment of interests with LPs, and 3) provide adequate investment transparency (investment and valuation rationales) to investors at the position level.
In my free time, I like to watch detective dramas.