About Matthew Scanlan

Four decades of institutional asset management leadership, from defined benefit pension investing to private equity operating partnerships.

Key Achievements

Academic & Professional Credentials

Bachelor of Science in Public Economics, University of Southern California, Marshall School of Business
Master’s degree in Accounting & Finance, J.L. Kellogg School of Management, Northwestern University (’81 MBA)
CFA Charterholder
2006 winner of the CFA Institute’s C. Stewart Sheppard Award for contributions to the global CFA curriculum
2006 winner of the Bernstein Fabozzi/Jacobs Levy Award for Best Article in the Journal of Portfolio Management
Co-author, “Five Myths About Fees,” Journal of Portfolio Management, Spring 2006
Co-author, “The Future Shock of Retirement,” a BGI research study on American retirement readiness, 2008
Member, Board of Governors, CFA Institute; chaired the executive advisory board and served on the candidate curriculum committee advisory board

Executive Leadership

Led Barclays Global Investors’ Americas Institutional Business for 12 years, helping grow the unit to $1.2 trillion in assets under management
President & CEO, Renaissance Institutional Management, the institutional subsidiary of Renaissance Technologies
Chief Executive Officer, RS Investments, growing the firm from $20.2 billion to over $26 billion in assets under management
President & Trustee, RS Investment Trust and RS Variable Products Trust
Led RS Investments’ sale to Victory Capital, creating a combined platform with approximately $54 billion in assets under management
Operating Executive, Golden Gate Capital, focused on financial services investments
Senior Portfolio Manager, The Northern Trust Company, Chicago

Industry Recognition & Policy Engagement

Testified before the U.S. House Committee on Education and Labor on the 401(k) Fair Disclosure for Retirement Security Act of 2007
Testified before the U.S. Department of Labor’s ERISA Advisory Council on approaches to retirement security, 2009
Guest speaker, Kellogg School of Management Asset Management Practicum, on the retirement crisis and trends in private equity and institutional investing
Board Director, Adams Street Partners, since 2018
Former Board Member, USC Marshall School of Business; former Board of Trustees, Mechanics Institute, San Francisco

Complete Career History

Period	Position	Organization
Early Career	Internal Fund Manager	O’Connor & Company, Chicago
Early Career	Senior Portfolio Manager	The Northern Trust Company, Chicago
1997–2009	Managing Director & Head of Americas Institutional Business	Barclays Global Investors — grew the institutional business to $1.2 trillion in AUM
2009–2011	President & CEO	Renaissance Institutional Management (subsidiary of Renaissance Technologies)
2012–2016	Chief Executive Officer, President & Trustee	RS Investments / RS Investment Trust / RS Variable Products Trust — led the firm’s sale to Victory Capital
2016–2018	Consultant	Angel Island Capital, LLC
2018–Present	Member, Board of Directors	Adams Street Partners
2017–2024	Operating Executive	Golden Gate Capital
2024–Present	Strategic Operating Partner	Valeas Capital Partners — advises the firm and its portfolio companies in the financial services vertical

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About Matthew H. Scanlan

Matthew H. Scanlan CFA

Strategic Operating Partner at Valeas Capital Partners

Matthew H. Scanlan, CFA, is a Strategic Operating Partner at Valeas Capital Partners. Over a multi-decade career in investment management, he has held chief executive positions at RS Investments, Renaissance Institutional Management, and Barclays Global Investors' Americas institutional business.

Gender:: male
Languages:: English

Matthew H. Scanlan: Employment History

Title, Organization, Department, Location, Dates, Description
Title	Organization	Department	Location	Dates	Description
Strategic Operating Partner	Valeas Capital Partners	Financial Services vertical	San Francisco, CA, United States	2024 – Present	Advises the firm and its portfolio companies in the financial services vertical.
Operating Executive	Golden Gate Capital		San Francisco, CA, United States	2017 – 2024	Operating Executive focused on investment opportunities in the financial services sector.
Consultant	Angel Island Capital, LLC		San Francisco, CA, United States	2016 – 2018	Consultant at Angel Island Capital, LLC in San Francisco.
CEO, President & Trustee	RS Investments (RS Investment Management Co. LLC)	RS Investment Trust; RS Variable Products Trust	San Francisco, CA, United States	2012-01 – 2016	Chief Executive Officer of RS Investments, a roughly $20 billion San Francisco-based investment management firm majority-owned by Guardian Life Insurance. Also President and Trustee of RS Investment Trust and RS Variable Products Trust. Led expansion into emerging markets and value strategies and oversaw the firm's 2015 acquisition by Victory Capital.
President & CEO	Renaissance Institutional Management (Renaissance Technologies)	Institutional Business	New York, NY, United States	2009 – 2011	President and CEO of Renaissance Institutional Management, the institutional investment business of Renaissance Technologies, based in New York.
Managing Director & Head of Americas Institutional Business	Barclays Global Investors	Americas Institutional Business	San Francisco, CA, United States	1997 – 2009-03	Managing Director and head of the Americas institutional business at BGI (approximately 12-year tenure). Focused on corporate and public defined benefit and defined contribution markets, endowments and foundations. Credited with adding hundreds of billions of dollars to the institutional business.
Senior Portfolio Manager	The Northern Trust Company		Chicago, IL, United States		Senior portfolio manager at The Northern Trust Company in Chicago, prior to joining BGI.
Internal Fund Manager	O'Connor & Company		Chicago, IL, United States		Internal fund manager at O'Connor & Company in Chicago (cited in Adams Street bio only).

Matthew H. Scanlan: Education

Degree / Field, Institution, Dates, Description
Degree / Field	Institution	Dates	Description
Master of Science / Masters in Management (Accounting & Finance) in Management; Accounting & Finance	J.L. Kellogg School of Management, Northwestern University	1981	'81 MBA class year per Northwestern alumni records and Kellogg Private Equity Advisory Council listing.
Bachelor of Science in Public Economics	University of Southern California (Marshall School of Business)		Bachelor of Science in Public Economics from the University of Southern California.

Matthew H. Scanlan: Awards & Honors

Award, Issuing Organization, Date, Description
Award	Issuing Organization	Date	Description
C. Stewart Sheppard Award	CFA Institute	2006	Awarded for contributions to the global CFA curriculum and accomplishments in investor education.
Bernstein Fabozzi / Jacobs Levy Award - Best Article	Jacobs Levy Equity Management / PM Research (Journal of Portfolio Management)	2006	Best Article award (8th Annual, $10,000 prize) for 'Five Myths About Fees,' voted by Journal of Portfolio Management readers.

Matthew H. Scanlan: Affiliations

Organization, Role, Dates, Description
Organization	Role	Dates	Description
Adams Street Partners	Member, Board of Directors	2018-04-01 – Present	Member of the Board of Directors of Adams Street Partners.
RS Investment Trust	President & Trustee	2012 – 2016	President and Trustee of RS Investment Trust.
RS Variable Products Trust	President & Trustee	2012 – 2016	President and Trustee of RS Variable Products Trust.
CFA Institute	Board of Governors; chaired executive advisory board; candidate curriculum committee advisory board	2004 – 2009	Served on the Board of Governors of the CFA Institute, chaired its executive advisory board, and served on the candidate curriculum committee advisory board (concurrent with later BGI years).
Kellogg School of Management, Northwestern University	Private Equity Advisory Council member		Member of the Kellogg Private Equity Advisory Council.
USC Marshall School of Business	Board Member		Member of the board of the Marshall School of Business at the University of Southern California.
Mechanics Institute, San Francisco	Board of Trustees		Member of the Board of Trustees of the Mechanics Institute in San Francisco.
City College of San Francisco	Finance Board		Served on the Finance Board of City College of San Francisco (confirmed in 2007 congressional testimony introduction).

Matthew H. Scanlan: Memberships

Organization, Role, Level, Description
Organization	Role	Level	Description
CFA Institute	professional	CFA Charterholder	CFA charterholder.

Matthew H. Scanlan: Key Events & Milestones

Event, Type, Date, Description
Event	Type	Date	Description
Joined Valeas Capital Partners as Strategic Operating Partner	career	2024	Joined Valeas Capital Partners to advise the firm and its portfolio companies in the financial services vertical.
Appointed to Adams Street Partners Board of Directors	career	2018-03-06	Joined the Adams Street Partners Board of Directors, succeeding Wilbur (Bill) H. Gantz.
Victory Capital acquires RS Investments	acquisition	2015-12-18	Victory Capital announced acquisition of RS Investments from Guardian Life and RS employees in an all-cash transaction; projected combined AUM ~$54 billion.
RS Investments emerging markets team hire	launch	2012-11	Brought emerging markets management in-house with an 11-person team from Principal Global Investors, replacing sub-advisor Baillie Gifford on the RS Emerging Markets and Greater China funds.
Appointed CEO of RS Investments	career	2012-01-04	Named Chief Executive Officer of RS Investments (then ~$20.2 billion AUM) following a 2011 chance meeting with Guardian Life CEO Deanna M. Mulligan.

Matthew H. Scanlan: Skills & Expertise

Skill, Proficiency, Years, Description
Skill	Proficiency	Years	Description
Institutional Asset Management	Thought leader	35	Decades of leadership in institutional asset management, including running BGI's Americas institutional business and serving as CEO of multiple asset management firms.
Defined Benefit & Defined Contribution Retirement Plans	Expert		Recognized expertise in DB and DC plan design, fee disclosure policy, and retirement security; congressional and DOL advisory council testimony on these topics.
Investment Management Fees & Cost Analysis	Expert		Co-author of the award-winning 'Five Myths About Fees' on fee structures and risk-adjusted returns.
Private Equity Operating Leadership	Advanced		Operating executive and strategic operating partner roles in private equity (Golden Gate Capital, Valeas Capital Partners), focused on financial services.

Matthew H. Scanlan: Academic Publications

Title, Journal, Date, DOI, Contributors, Keywords, Abstract
Title	Journal	Date	DOI	Contributors	Keywords	Abstract
The Future Shock of Retirement	Barclays Global Investors Research Study (not a journal publication)	2008-04-29		Matthew H. Scanlan, Jonathan Cohen, Matthew O'Hara	retirement security, Social Security, home equity, defined contribution plans	A BGI research study using data from the Health and Retirement Study that simulated shocks to Social Security and home equity to strip out the false sense of security those assets provide. Key findings: among the middle wealth decile, 40% of total wealth comes from Social Security and home equity; controlling for reductions in government benefits and home equity, one-half of middle class Americans stand to lose 25% of their retirement wealth compared to expectations. The study identified the 'wealth effect' - counting illiquid home equity as spendable retirement wealth - as a major source of retirement insecurity, and proposed solutions at the government, employer, and individual levels.
Five Myths About Fees	The Journal of Portfolio Management, Vol. 32, No. 3, pp. 56-64	2006	10.3905/jpm.2006.628406	Ronald N. Kahn, Matthew H. Scanlan, Laurence B. Siegel	fees, hedge funds, alpha and beta, investment management	Of the three dimensions of investing - return, risk, and cost - investors have direct control only over cost. The subject here is five common assumptions about fees, which are a major component of costs. Three of the myths concern appropriate fee level and structure, fixed versus incentive, and the value of high water marks; two others concern fees in particular contexts. Do hedge funds deserve their high fees, and can investors always separate alpha from beta, and pay appropriately for each? The core thesis is that fees should not be an overriding investor concern, and high-fee products are worthwhile only if they deliver sufficiently high risk-adjusted returns.

Matthew H. Scanlan: Media Coverage

Title, Outlet, Date, Type, Anchor Text, Contributors, Description
Title	Outlet	Date	Type	Anchor Text	Contributors	Description
Matthew H. Scanlan Joins Adams Street Partners Board of Directors	Adams Street Partners	2018-03-06	article	Matthew H. Scanlan, Board of Directors		Press release announcing Scanlan's appointment to the Adams Street Partners Board of Directors, with quotes from Bon French and Jeff Diehl.
Adams Street Partners Adds Board Directors	Private Equity Wire	2018-03	news article	Adams Street Partners adds board directors		Coverage of Scanlan's appointment to the Adams Street Partners board.
Adams Street Hires Matthew Scanlan for Board of Directors	PE Hub	2018-03	news article	Adams Street hires Matthew Scanlan		Coverage of Scanlan's appointment to the Adams Street Partners board.
RS Investments Ready to Take Bigger Piece of Pie	Pensions & Investments	2014-12-08	profile	RS Investments ready to take bigger piece of pie	Christine Williamson	Profile of RS Investments as a $26 billion firm, quoting Scanlan on seeking opportunities to increase scale; credits him with adding hundreds of billions to BGI's institutional business.
Scanlan Named CEO at RS Investments	Financial Planning	2012-01-09	news article	Scanlan named CEO at RS Investments		Coverage of Scanlan's appointment as CEO of RS Investments.
New CEO Takes Reins at RS Investments	Pensions & Investments	2012-01-04	news article	New CEO Takes Reins at RS Investments		News report confirming Scanlan's appointment as CEO of RS Investments, independent of the company press release.
Scanlan's BGI Departure Is a Symptom of Rough Times	Pensions & Investments	2009-03-09	news article	Scanlan's BGI departure is a symptom of rough times		Frames Scanlan's departure from BGI as illustrating the difficulty large, troubled financial institutions face in retaining top money management executives.
BGI Loses Scanlan to Renaissance	Pensions & Investments	2009-03-03	news article	BGI loses Scanlan to Renaissance		Reports Scanlan's departure from Barclays Global Investors to Renaissance Institutional Management.
Retirement Might Be Worse Than We Think	PlanSponsor	2008-04-30	article	Retirement Might Be Worse Than We Think		Coverage of the BGI 'Future Shock of Retirement' study co-authored by Scanlan, with verbatim quotes on the severity of the retirement savings shortfall.
Defined Contributions: Sticky Fingers	Institutional Investor	2007-11	profile	Sticky Fingers		Feature on the defined contribution market quoting Scanlan, head of BGI's Americas institutional business, on bringing the best of defined benefit investing to DC plans; notes BGI's $188 billion in defined contribution assets.
Annuities Meet Their Match	Pensions & Investments	2007-10-15	news article	Annuities meet their match		Reports Scanlan, as managing director and head of BGI's Americas institutional business, describing a new DC annuity product as a revolutionary technology, with BGI filing 14 patent claims on the process.
Barclays Adds Annuity Feature to 401(k)s	InvestmentNews	2007-10-10	news article	Barclays adds annuity feature to 401(k)s		Covers the BGI SponsorMatch product launch, quoting Scanlan on trying to bring the best of defined benefit plans into a defined contribution option.
Class Notes 1981 - Kellogg World Alumni Magazine	Kellogg World Alumni Magazine	2006	article	Class Notes 1981		Notes Scanlan's CFA Institute C. Stewart Sheppard Award, his service on the candidate curriculum committee advisory board and chairing of the executive advisory board, and his role as head of BGI's Americas institutional business.
Profiles of the Top 50 Global/International Managers	Pensions & Investments	2002-07-08	article	Top 50 Global/International Managers		Identifies Matthew Scanlan as client contact and Blake Grossman as chief investment officer at BGI, confirming Scanlan's senior client-facing role at least as early as 2002.

Matthew H. Scanlan: Speaking & Events

Title, Event, Venue, Date, Role, Topic, Links, Description
Title	Event	Venue	Date	Role	Topic	Links	Description
Trends in Private Equity and Institutional Investing	Kellogg Asset Management Practicum (guest speaker)	Kellogg School of Management, Northwestern University	2021/2022	Co-presenter (with T. Bondurant French)	Trends in private equity and institutional investing
Implications of the Retirement Crisis for Asset Managers	Kellogg Asset Management Practicum (guest speaker)	Kellogg School of Management, Northwestern University	2011/2012	Guest speaker	Implications of the retirement crisis for asset managers
DOL ERISA Advisory Council Testimony on Approaches to Retirement Security	2009 ERISA Advisory Council, U.S. Department of Labor	U.S. Department of Labor	2009-07-21	Witness (CEO and President, Renaissance Institutional Management)	Defined benefit and defined contribution plan design; retirement security; short-term DB funding relief	Recording ↗	Testifying as CEO and President of Renaissance Institutional Management, Scanlan appeared jointly with former BGI colleague Carter Lyons. He spoke about defined benefit plans, arguing they offer the most robust form of retirement security due to professional asset management, reduced costs from commingling, and diversification of longevity risk, and advocated short-term DB funding relief. A noted quote: 'Retirement is an income driven process and we're living in a lump sum world.'
Release of 'The Future Shock of Retirement' Study	BGI News Briefing		2008-04-29	Co-author / Spokesperson	Retirement security research; risks to middle-class retirement wealth from Social Security and home equity assumptions		Scanlan presented findings from the BGI study at a news briefing, stating that one-half of all middle-class Americans will have one-quarter less in retirement than they realize.
Testimony on H.R. 3185, the 401(k) Fair Disclosure for Retirement Security Act of 2007	House Committee on Education and Labor, Workforce Protections Subcommittee Hearing	Room 2175, Rayburn House Office Building	2007-10-04	Witness	401(k) fee disclosure and retirement security; bringing defined benefit investment disciplines to defined contribution plans	Recording ↗ Slides ↗	Scanlan testified as Managing Director and head of BGI's Americas institutional business at the 110th Congress hearing on H.R. 3185. He supported fee disclosure by category to plan sponsors, conflict-of-interest disclosure, DOL standardized fund fact sheets, simplified participant disclosures, and bringing DB plan investment disciplines into the DC marketplace. He identified three root causes of DC plan failure: inadequate contributions; low returns with high fees; and lack of a distribution strategy.
BGI SponsorMatch / DC Annuity Product Launch	BGI News Conference		2007-10	Spokesperson	Launch of BGI SponsorMatch, a defined contribution annuity product; 14 patent claims filed on the process		Scanlan spoke at a BGI news conference announcing the SponsorMatch DC annuity product, describing it as a technology aimed at bringing the best of defined benefit investing into defined contribution options.

Matthew H. Scanlan: FAQ

Q1: Who is Matthew Scanlan?

Matthew H. Scanlan, CFA, is an asset management executive and currently a Strategic Operating Partner at Valeas Capital Partners. Over a career of more than three decades he has held CEO positions at RS Investments, Renaissance Institutional Management, and Barclays Global Investors' Americas institutional business.

Q2: What is Matthew Scanlan's current role?

Since 2024 he has been a Strategic Operating Partner at Valeas Capital Partners, advising the firm and its portfolio companies in the financial services vertical.

Q3: Where did Matthew Scanlan go to school?

He earned a master's degree from the J.L. Kellogg School of Management at Northwestern University ('81 MBA) and a Bachelor of Science in Public Economics from the University of Southern California.

Q4: What has Matthew Scanlan published?

He co-authored 'Five Myths About Fees' (Journal of Portfolio Management, 2006), which won the Jacobs Levy / Bernstein Fabozzi Best Article award, and the BGI research study 'The Future Shock of Retirement' (2008).

Q5: What awards has Matthew Scanlan received?

He received the CFA Institute's 2006 C. Stewart Sheppard Award for contributions to investor education and the 2006 Jacobs Levy / Bernstein Fabozzi Best Article award.

Matthew H. Scanlan: Related Entities

Name, Relationship, Description
Name	Relationship	Description
Valeas Capital Partners	Employer	Current employer; Scanlan serves as Strategic Operating Partner. Co-founded by Rob Little and Ed Woiteshek, former Hellman & Friedman executives.
Adams Street Partners	Board Member	Member of the Board of Directors since 2018.
Barclays Global Investors	Employer	Former employer; Scanlan headed the Americas institutional business for approximately 12 years.
Ronald N. Kahn	Collaborator	BGI colleague (Global Head of Equity Research) and co-author of 'Five Myths About Fees.'
Laurence B. Siegel	Collaborator	Director of Research at the Ford Foundation Investment Division and co-author of 'Five Myths About Fees.'
Blake Grossman	Colleague	Global CEO / CIO counterpart at BGI throughout Scanlan's tenure.
Kristi Mitchem	Colleague	Direct report at BGI (MD, U.S. DC Group); co-presented the BGI annuity product launch and testified on a successor 401(k) bill.
T. Bondurant French	Colleague	Founder & Chairman of Adams Street Partners; Kellogg '77 MBA; co-presenter with Scanlan at the Kellogg Asset Management Practicum; appointed Scanlan to the Adams Street board.
Deanna M. Mulligan	Other	President & CEO of Guardian Life Insurance; a 2011 chance meeting led to Scanlan joining RS Investments as CEO.
Terry Otton	Other	Outgoing CEO of RS Investments who recruited Scanlan as his successor and stayed on to assist the transition.
Carter Lyons	Colleague	Former BGI Managing Director who testified jointly with Scanlan before the DOL ERISA Advisory Council in 2009.
Golden Gate Capital	Employer	Former employer; Scanlan was an Operating Executive focused on financial services.
Renaissance Technologies	Employer	Parent firm of Renaissance Institutional Management, where Scanlan was President and CEO.

Matthew H. Scanlan: External Profiles

Platform, URL, Bio
Platform	URL	Bio
Valeas Capital Partners	https://valeas.com/our-people/matthew-scanlan/	Matt Scanlan joined Valeas in 2024 as a Strategic Operating Partner, where he advises the firm and its portfolio companies in the financial services vertical. Matt comes to Valeas with decades of experience in financial services. Most recently, he was an Operating Executive with Golden Gate Capital, where he focused on investment opportunities in the financial services sector. Previously, he was CEO of RS Investments, a $20 billion San Francisco-based investment management firm. Prior to RS Investments, he was President and CEO of Renaissance Technologies' Institutional Business, and also CEO of Barclays Global Investors' Institutional Business, as well as a Senior Portfolio Manager at The Northern Trust Company. Matt received his M.S. from the Kellogg School of Management at Northwestern University and his B.S. from the University of Southern California.
Adams Street Partners	https://www.adamsstreetpartners.com/our-firm/team/matthew-scanlan/	Matthew Scanlan currently serves as a Consultant at Angel Island Capital, LLC in San Francisco. Over the course of a 35-year career in the investment industry, Mr. Scanlan has held chief executive officer positions at several asset management firms. Most recently, he served as the CEO of RS Investments, a $20 billion San Francisco-based investment management firm. Prior to that, he was president and CEO of Renaissance Institutional Management. Before that, he was CEO of Barclays Global Investors' institutional business in the U.S. Mr. Scanlan also previously served as a senior portfolio manager at The Northern Trust Company and an internal fund manager at O'Connor & Company in Chicago. Mr. Scanlan is a CFA charterholder, and recently served on the Board of Governors of the CFA Institute, the Board of the Marshall School of Business at USC, and the Board of Trustees of the Mechanics Institute in San Francisco.
Kellogg Private Equity Advisory Council	https://kellogg.northwestern.edu/the-experience/people/private-equity-advisory-council/	Matt Scanlan '81 MBA, Operating Executive, Golden Gate Capital.
MarketScreener	https://www.marketscreener.com/insider/MATT-SCANLAN-A0IA62/	Mr. Matthew H. Scanlan, CFA, is Chief Executive Officer at RS Investment Management Co. LLC. He also serves as President and Trustee of the RS Investment Trust and RS Variable Products Trust. He joined RS Investments in 2012 and has more than 30 years of experience in the investment management industry.
USC Marshall School of Business	https://www.marshall.usc.edu/personnel/matthew-scanlan	Matthew Scanlan, CFA, currently serves as an operating executive at Golden Gate Capital, LLC in San Francisco. He has more than 33 years of experience in the investment management industry. He is a CFA charter holder and served on the board of Governors of the CFA Institute. He has been widely published in practitioner journals, and was given the Jacobs Levy Award for best article in 2006 in the Journal of Portfolio Management.
LinkedIn	https://www.linkedin.com/company/angel-island-capital