Definitely Uncertain Goldrock Capital

In this episode of Definitely Uncertain, Jean-Baptiste Wautier and David Ram discuss Vautier's career path from M&A to private equity leadership, the alignment of interests between general and limited partners, and the critical importance of long-term wealth compounding. They also analyze how capital structure and artificial fund time horizons affect business value and decision-making. Finally, the conversation highlights key criteria for evaluating management teams and the ongoing consolidation trends shaping the future of private markets.IN THIS EPISODE, WE DISCUSS:• GP and LP interest alignment• Absolute numbers for liquidity management• Power of long-term compounding • Criteria for hiring leadership teams• Consolidation trends in private equityABOUT JEAN-BAPTISTE WAUTIERJean-Baptiste (JB) Wautier is a leading figure in the financial sector with over 30 years of experience in private equity, mergers and acquisitions, board governance, and corporate finance. He currently manages five consumer-focused portfolio companies within his family office, guiding their growth as a board member and Chairman. JB also serves as an Independent Director on the Boards of Pershing Square Holdings (PSH: LN) and Howard Hughes Holdings (HHH: US), where he brings strategic insight and governance expertise to two high-profile and transformative companies, active in global investment and large-scale real estate development. Additionally, JB serves as a Council Member of The Wall Street Journal Board of Directors Council, a distinguished network of global leaders who contribute insights on governance, leadership, and the evolving role of boards in driving sustainable growth and stakeholder value. His career highlights include significant roles at Arthur Andersen, Morgan Stanley, IK Partners, and BC Partners (BC), where he spent 20 years and was CIO for a decade. At BC, he co-managed €40 billion of assets, helped raise three flagship funds, and led ten major investments.ABOUT DEFINITELY UNCERTAINSince 2020, Goldrock has produced Definitely Uncertain, The Private Wealth Podcast. The podcast helps to unravel the many uncertainties facing high-net-worth families, covering topics ranging from investment strategies and macro trends to family governance and philanthropy.ABOUT GOLDROCKGoldrock is a trusted family office advisory firm - assisting significant families in the management of their affairs and financial assets. Goldrock understands the importance of wealth preservation and risk mitigation, and has first-hand experience managing significant family events and milestones. We are strong believers that asset allocation is the key driver to investment returns. We create our own global asset allocation which is applied uniquely to each family and work with the best investment managers from around the world. Our only interests are those of the families we serve. We are a fee-only, non-discretionary adviser. The firm was established in 1998 by Daniel Goldman.Learn more: https://www.goldrockcap.com/Subscribe to stay updated on how to navigate the uncertainties of private wealth.

In this episode of Definitely Uncertain, Amy Castoro and Darren Rockman discuss the complexities of multi-generational wealth transition and the crucial role that trust and communication play in maintaining family harmony. They explore why traditional wealth advisors often struggle to address the deeper emotional dynamics underlying family businesses and how "tranquilizer" governance structures can fail to prevent conflict. Through real-world examples, they highlight the necessity of understanding personal motivations and learning to listen deeply to co-design a sustainable family legacy.

IN THIS EPISODE, WE DISCUSS:

• Wealth transition statistics

• Advisor skill gaps

• Defining wealth purpose

• Linguistic and somatic skills

• Conflict red flags

ABOUT AMY CASTORO:

Amy Castoro is a recognized expert in preparing high-net-worth families to successfully transition wealth while maintaining family unity and control over assets. As President and CEO of The Williams Group, she leads a team dedicated to ensuring the smooth transfer of wealth across generations. Amy is also an accomplished author, keynote speaker, and senior family coach known for her direct yet compassionate approach, which fosters long-term relationships and delivers measurable results.

ABOUT DEFINITELY UNCERTAIN

Since 2020, Goldrock has produced Definitely Uncertain, The Private Wealth Podcast. The podcast helps to unravel the many uncertainties facing high-net-worth families, covering topics ranging from investment strategies and macro trends to family governance and philanthropy.

ABOUT GOLDROCK

Goldrock is a trusted family office advisory firm - assisting significant families in the management of their affairs and financial assets. Goldrock understands the importance of wealth preservation and risk mitigation, and has first-hand experience managing significant family events and milestones. We are strong believers that asset allocation is the key driver to investment returns. We create our own global asset allocation which is applied uniquely to each family and work with the best investment managers from around the world. Our only interests are those of the families we serve. We are a fee-only, non-discretionary adviser. The firm was established in 1998 by Daniel Goldman.

Learn more: https://www.goldrockcap.com/

Subscribe to stay updated on how to navigate the uncertainties of private wealth.

In this episode of Definitely Uncertain, Alon Futterman & Daniel Goldman discuss how a community shattered by the events of October 7th began the long road to rebuilding. Alon shares the deeply personal story of how he received a phone call just three days after the attack and helped create a framework for recovery amid radical uncertainty. The conversation explores the evolving role of Jewish philanthropy, the challenge of engaging the next generation of donors, and what Israel's southern and northern communities will need most in 2026 and beyond.IN THIS EPISODE, WE DISCUSS:• Rebuilding Kfar Aza• Managing Crisis Under Uncertainty• Evolution of Jewish Philanthropy• Engaging the Next Generation• Future Priorities for Israel’s PeripheryABOUT ALON FUTTERMANAlon Futterman is Director of the Kfar Aza Foundation, which he took on after October 7th to lead the kibbutz community's recovery and rebuilding. He came to the role from serving as CEO of Keren Hayesod - United Israel Appeal, one of the four national institutions of the State of Israel and the Jewish people, and before that was the founding CEO of TALMA (2014–2022) — the flagship national English-education program run jointly by the Israeli government, the Schusterman Foundation, and the Steinhardt Foundation. Earlier in his career he was active professionally and as an activits in the world of politics. Alon was named one of the Jerusalem Post's 50 Most Influential Jews in both 2024 and 2025.ABOUT DEFINITELY UNCERTAINSince 2020, Goldrock has produced Definitely Uncertain, The Private Wealth Podcast. The podcast helps to unravel the many uncertainties facing high-net-worth families, covering topics ranging from investment strategies and macro trends to family governance and philanthropy.ABOUT GOLDROCKGoldrock is a trusted family office advisory firm - assisting significant families in the management of their affairs and financial assets. Goldrock understands the importance of wealth preservation and risk mitigation, and has first-hand experience managing significant family events and milestones. We are strong believers that asset allocation is the key driver to investment returns. We create our own global asset allocation which is applied uniquely to each family and work with the best investment managers from around the world. Our only interests are those of the families we serve. We are a fee-only, non-discretionary adviser. The firm was established in 1998 by Daniel Goldman.Learn more: https://www.goldrockcap.com/Subscribe to stay updated on how to navigate the uncertainties of private wealth.

In this episode of Definitely Uncertain, Adam Rozencwajg from Goehring & Rozencwajg returns to the podcast to discuss why he believes the global energy market is far tighter than most investors realize, arguing that oil shortages, underinvestment in energy production, and geopolitical disruptions are setting up a long-term commodity bull market. He explains why his firm shifted heavily from gold into oil and natural gas, outlines concerns about U.S. shale depletion, the Strait of Hormuz disruptions, OPEC instability, and inflation risks, while also sharing his outlook on gold, energy stocks, and the broader macroeconomic environment.

IN THIS EPISODE, WE DISCUSS:

• Commodity Markets
• Oil & Natural Gas
• Shift from Gold
• Geopolitical Risks
• Macroeconomic Outlook

ABOUT ADAM ROZENCWAJG

Adam Rozencwajg is a Co-Founder and Managing Partner at Goehring & Rozencwajg (G&R), a premier global natural resource investment firm based in New York. With 17 years of investment management experience in the natural resource sector, Mr. Rozencwajg is recognized as a leading authority on commodities, renowned for his contrarian, deep-value investment philosophy and original research spanning decades of long-term market cycles. His prescient investment themes and industry renowned and widely followed quarterly commentaries have cemented his status as one of the foremost experts in natural resources worldwide.

ABOUT DEFINITELY UNCERTAIN

Since 2020, Goldrock has produced Definitely Uncertain, The Private Wealth Podcast. The podcast helps to unravel the many uncertainties facing high-net-worth families, covering topics ranging from investment strategies and macro trends to family governance and philanthropy.

ABOUT GOLDROCK

Goldrock is a trusted family office advisory firm - assisting significant families in the management of their affairs and financial assets. Goldrock understands the importance of wealth preservation and risk mitigation, and has first-hand experience managing significant family events and milestones. We are strong believers that asset allocation is the key driver to investment returns. We create our own global asset allocation which is applied uniquely to each family and work with the best investment managers from around the world. Our only interests are those of the families we serve. We are a fee-only, non-discretionary adviser. The firm was established in 1998 by Daniel Goldman.

Learn more:

https://www.goldrockcap.com/

Subscribe to stay updated on how to navigate the uncertainties of private wealth.

In this episode of Definitely Uncertain, we discuss we discuss the evolving landscape of private credit and the potential impact of AI on market performance. David Hirschmann of Permira Credit explores the current shift toward a lender's market and how recent technological launches, like Anthropic's Claude 4.6, have created market anxiety regarding software-related loans. The conversation examines the pressure to deploy capital in the retail channel and the widening of spreads in the European mid-market. Additionally, the guests analyze how tensions in the Middle East and energy supply dependencies are affecting global M&A activity and GDP forecasts.IN THIS EPISODE, WE DISCUSS:• AI and Software Vulnerability• Private Credit Market Shifts• Retail Channel Capital Flows• Sector Expertise and Performance• Effects of Regional Conflicts and Energy Supply on Global M&AABOUT DAVID HIRSCHMANNDavid joined Permira Credit in June 2015 as Head of Private Credit. In December 2023, David was named Co-Head of the business, where he holds the position of overseeing the direct lending and strategic opportunities strategies. He serves as a member of the Investment Committee for the direct lending and strategic opportunity funds, as well as a member of the Permira Credit Executive Committee. David has 27 years of European credit experience. Prior to joining Permira Credit, he was Managing Director at Barings (formerly Babson Capital), where he was responsible for sourcing and transacting opportunities and was a member of the private debt investment committee. Before that, David worked at UBS in Leveraged Finance and Financial Sponsors coverage.ABOUT DEFINITELY UNCERTAINSince 2020, Goldrock has produced Definitely Uncertain, The Private Wealth Podcast. The podcast helps to unravel the many uncertainties facing high-net-worth families, covering topics ranging from investment strategies and macro trends to family governance and philanthropy.ABOUT GOLDROCKGoldrock is a trusted family office advisory firm - assisting significant families in the management of their affairs and financial assets. Goldrock understands the importance of wealth preservation and risk mitigation, and has first-hand experience managing significant family events and milestones. We are strong believers that asset allocation is the key driver to investment returns. We create our own global asset allocation which is applied uniquely to each family and work with the best investment managers from around the world. Our only interests are those of the families we serve. We are a fee-only, non-discretionary adviser. The firm was established in 1998 by Daniel Goldman.Learn more: https://www.goldrockcap.com/Subscribe to stay updated on how to navigate the uncertainties of private wealth.