Tales From The Front Lines: Lessons Learned from Nearly 30 Years of Hedge Fund Investing
A conversation featuring takeaways, lessons, and wisdom gleaned from successes and, most importantly, plenty of mistakes with Scott Schweighauser, Borealis Strategic Capital Partners and Adam Smith, Corewell Health
Adam Smith, CFA, CAIA, Vice President, Investments, Corewell Health
Adam Smith is Vice President, Investments of Corewell Health, a $14 billion not-for-profit integrated health system based in Michigan. He is responsible for the management of Corewell’s $9 billion of investment assets, including operating, defined benefit pension, health insurance, and captive insurance portfolios. Over his career, Adam has developed expertise in asset allocation, investment manager due diligence and selection, and investment strategy, as well as experience building and leading high performing investment teams.
Background
Adam joined Corewell Health in 2023. Previously, he served for nearly six years as a Managing Director at the Cleveland Clinic, where he was a senior part of the team responsible for managing $13 billion in assets across operating, defined benefit pension, and captive insurance portfolios. Before that, he was the Director of Investments at Mercy Health in Cincinnati, Ohio (now Bon Secours Mercy Health), after having spent more than 10 years working with institutional investors in his various roles at investment consulting firms.
Education
He earned a Bachelor of Arts in Organizational Behavior and Management at Brown University in Providence, Rhode Island, where he also played varsity football.
Affiliations and Awards
Adam has earned the Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA) designations. He is also a member of the CFA Institute as well as the CFA Society of Cleveland. In 2015, while at Mercy Health, he was named a Rising Star in Healthcare by Institutional Investor.
Scott Schweighauser is the Managing Partner of Borealis Strategic Capital Partners, LP, which provides seed capital to top-tier, early-stage investment managers in return for direct economic participation in their growth and success. Prior to creating Borealis in 2016, Scott was the President, Partner, and Portfolio Manager at Aurora Investment Management, which he joined in 1994. Before joining Aurora, Scott was the Vice President for derivatives and interest rate product trading with ABN AMRO Bank (1993-1994), a Vice President and Managing Director with Continental Bank’s Risk Management Trading Group (1986-1993) and an Associate in Corporate Finance at Bankers Trust Co. (1983-1986). Scott received his BA in Mathematics from Williams College (1983) and his MBA from the University of Chicago (1989). Scott sits on the Board of Directors of NorthShore University HealthSystem, and is a trustee of the Clark Art Institute in Williamstown, Massachusetts.