David Wong is Group Chief Investment Officer of CIBC Global Asset Management, where he leads the investment team across Canada and the US for over $398B in assets. As head of Total Investment Solutions, he also oversees more than $100B in managed solutions.

He has more than 27 years of experience, beginning as a research analyst at Russell Investments.

Katie and David talk about where private markets fit inside a bank-owned platform, why Canadian investors remain underexposed to alternatives, the regulatory ceiling that shapes how much can go to privates, and what it takes to earn a re-up at scale.

He also explains the free coffee test — and why performance is only part of what a manager sells.

David Wong is Group Chief Investment Officer of CIBC Global Asset Management, where he oversees the investment team across Canada and the US and sits on the firm's executive leadership team. In that role he leads the management of over $398B in assets spanning managed solutions, fixed income, equities, and alternative investments. As head of the Total Investment Solutions team, he directly oversees the portfolio management of more than $100B in managed solutions, and he is a member of the CIBC Family Office Leadership Team, providing institutional asset allocation advice to ultra-high-net-worth individuals and families.

David joined CIBC Global Asset Management in July 2011, serving as Managing Director, Investment Management Research and later as Chief Investment Officer, Managing Director and Head of Total Investment Solutions before taking on the group CIO role. He has more than 27 years of industry experience in New York and Toronto; before CIBC, he was a Senior Research Analyst at Russell Investments, covering a broad spectrum of fixed income strategies for institutional and retail clients. David holds an Honours Bachelor of Commerce from McMaster University, is a CFA Charterholder, and holds the Financial Risk Manager (FRM) designation from the Global Association of Risk Professionals. He serves on the boards of the CIBC Foundation and the Oakville Community Foundation, chairing and co-chairing their respective investment committees.

Anastasia Elia is Managing Director and Head of Private Equity at IMCO — the Investment Management Corporation of Ontario — where she leads the team running its roughly $10B private equity program.

When she joined in 2021, IMCO had inherited a small, fragmented portfolio. Ana and the team built it, largely from scratch, into a multi-client program of that scale in about five years.

Katie and Anastasia talk about pacing deployment through a hard market, why IMCO runs 15 core manager relationships, what a "Mini Maple" gains in the middle market, and what a GP has to show to earn a re-up.

She also explains why she passes on the one-and-done fundraisers everyone chases — if a manager doesn't need a partner, there's no relationship to build.

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This podcast is for informational and entertainment purposes only and does not constitute financial, legal, or investment advice. Any views expressed by guests are their own and do not necessarily reflect those of the host or affiliated organizations. Participation as a guest does not imply any client relationship, endorsement, or future business engagement.

Anastasia Elia is Managing Director and Head of Private Equity at IMCO — the Investment Management Corporation of Ontario — where she leads the private equity team and sets the strategic direction for the asset class, building the portfolio across fund commitments, co-investments, and direct deals, along with the strategic partnerships behind them.

She joined IMCO in 2021 and has more than 15 years of investment experience across public and private markets. Before IMCO, she spent 11 years at CPP Investments, leading deal teams on fund manager evaluation and direct investments and running legal negotiations across growth and buyout opportunities in North America and Europe.

Anastasia holds an MBA from the Rotman School of Management at the University of Toronto, a BBA from the University of Toronto, and is a CFA charterholder.

The Re-Up is a podcast about the business of raising and allocating capital in private markets — and how that work can be done better. In private markets, a re-up is the decision to recommit to a manager's next fund: the ultimate signal of trust. Each episode is a candid conversation with the LPs, GPs, and advisors who have built exceptional track records — the conversations that usually happen over dinner after the conference, not the ones on stage. Hosted by Katie Fasken, founder of August Advisors, a Toronto-based placement firm connecting exceptional private investment managers with institutional capital.

Elizabeth Bell is Co-Head of Real Estate at Hamilton Lane, where she helps run a $114B real estate program and invests $2.5–3B a year across funds, secondaries, and co-investments.

She has spent about 20 years in real estate private equity, much of it on the GP side before moving to the allocator's seat.

Katie and Elizabeth talk about why institutional investors see today's reset as a chance to buy, the sectors leading and lagging the recovery, and where she sees opportunity, from data centers to necessity-based retail. They also get into the "re-emerging manager" and the discipline it takes to back one.

Her test for a re-up after a hard cycle: not whether everything went right, but how the manager behaved when it didn't.

Elizabeth Bell is a Managing Director and Co-Head of Real Estate on the Real Assets team at Hamilton Lane, where she leads due diligence across primary, secondary, and co-investment opportunities in real estate and sits on the Real Asset Investment Committee. Hamilton Lane's real estate program spans roughly $114B, deploying $2.5–3B a year across funds, secondaries, co-investments, and joint ventures.

She has spent about 20 years in real estate private equity. Before joining Hamilton Lane in 2022, she was a Managing Director at Jaguar Growth Partners, leading Latin American real estate private equity investments. Earlier roles included Investment Manager on Aberdeen Asset Management's Property Multi-Manager team, Vice President at Equity International investing in emerging-markets real estate companies, Associate at JER Partners, and investment banking analyst at Deutsche Bank.

Elizabeth holds an MBA from the Wharton School at the University of Pennsylvania and an A.B. from Princeton University.

The Re-Up is a podcast about the business of raising and allocating capital in private markets — and how that work can be done better. In private markets, a re-up is the decision to recommit to a manager's next fund: the ultimate signal of trust. Each episode is a candid conversation with the LPs, GPs, and advisors who have built exceptional track records — the conversations that usually happen over dinner after the conference, not the ones on stage. Hosted by Katie Fasken, founder of August Advisors, a Toronto-based placement firm connecting exceptional private investment managers with institutional capital.