In this episode of the iPartners Grow Your Wealth podcast, host Travis Miller sits down with Natasha Nankivell, co-founder and partner of Global Alternative Funds, for a thoughtful discussion on investing, leadership and the importance of relationships. Drawing on more than three decades in financial markets and alternative assets, Natasha shares the experiences, values and lessons that have shaped her approach to wealth creation and manager selection.
Early Influences and Entrepreneurial Foundations: Natasha reflects on the profound influence of her parents, both entrepreneurs who built successful careers after overcoming significant challenges. Her mother, a Ukrainian post-war immigrant and infrastructure planner, instilled values of hard work, integrity and service, while her father pioneered in-vitro fertilisation in Australia. Their example laid the foundations for a career centred on contribution, resilience and long-term thinking.
The Importance of Character and Integrity: Throughout her career, Natasha was shaped by exceptional mentors, including Jillian Broadbent and Carlyle Group founder David Rubenstein. A common thread among these leaders was an unwavering commitment to integrity, putting clients first and maintaining a broader perspective beyond personal gain. These qualities reinforced the belief that trust and reputation are invaluable assets that cannot be replaced once lost.
Learning Through Relationships and Experience: Rather than focusing on networking for personal advantage, Natasha emphasises the importance of genuine relationships built over decades. She explains that meaningful connections, shared experiences and mutual respect have been far more valuable than transactional interactions. The strongest professional opportunities and partnerships emerged naturally through years of working alongside people with aligned values and a commitment to excellence.
Developing an Investment Philosophy: Having spent her career immersed in financial markets, Natasha believes successful investing starts with understanding what you own. Where expertise is lacking, seeking trusted advice and learning from experienced specialists becomes critical. At Global Alternative Funds, this philosophy extends to a relentless pursuit of knowledge, listening to experts and continually assessing risks rather than simply accepting optimistic projections at face value. As she notes, nobody presents an investment opportunity by saying, “We’re rubbish, give us your capital.”
Building Global Alternative Funds: Following the passing of their mother, Natasha and her brother Peter left their respective positions at Carlyle and Goldman Sachs to manage family capital. Discovering that access to the world’s leading alternative asset managers was largely reserved for institutions, they created Global Alternative Funds to bridge that gap. Leveraging decades of relationships and experience, they aggregated capital from like-minded investors and gained access to managers who would otherwise remain inaccessible to most high-net-worth individuals and family offices.
Manager Selection Above All Else: A recurring theme throughout the conversation is the importance of manager selection. Natasha believes that if there are three keys to successful alternative investing, they are “manager selection, manager selection and manager selection”. The team reviews hundreds of managers every year, travels extensively and focuses as much on what could go wrong as what could go right. Their goal is not simply to identify attractive opportunities, but to avoid permanent capital loss and preserve wealth across generations.
Alignment of Interests and Long-Term Thinking: One of the key differentiators behind Global Alternative Funds is that the team invests its own capital alongside clients. Rather than focusing on accumulating assets under management, the business was built to steward family wealth responsibly. This alignment creates a culture where preserving and growing capital takes precedence over short-term fees, ensuring investors and managers share the same outcomes. It reflects a belief that trust is earned through action rather than promises.
Sharing Knowledge Creates Better Outcomes: Natasha challenges the idea that knowledge should be guarded for competitive advantage. Drawing parallels with scientific collaboration and the rapid development of mRNA vaccines during the pandemic, she argues that sharing information ultimately produces better outcomes for everyone. A culture of openness, curiosity and collaboration not only improves decision-making but also creates stronger relationships and more sustainable success over time.
Lessons from Success and Adversity: One of the most memorable investments discussed was a UK airport acquired shortly before COVID-19 disrupted global travel. Initially appearing disastrous, the investment ultimately became one of the strongest performers because of the quality of the manager. Through proactive refinancing, operational improvements and disciplined decision-making, the asset emerged stronger once conditions normalised. The experience reinforced that while markets can change unexpectedly, outstanding managers create value through difficult periods.
Building Wealth Through Consistency: Natasha explains that successful wealth creation rarely comes from attempting to time markets. Instead, consistent investment across market cycles and alternative asset classes has historically delivered superior long-term results. Private equity, private credit, infrastructure, real estate and venture capital all reward patient investors who commit capital sensibly over time. Chasing trends or reacting emotionally often proves counterproductive, while disciplined allocation creates enduring wealth.
Operational Expertise and Specialist Knowledge: Great investors and managers possess more than strong track records. They have deep operational expertise and focus on areas where they possess genuine competitive advantages. Natasha is wary of what she calls “alternatives in dress-up”, preferring specialist managers with decades of experience and clear differentiation. Whether in healthcare, infrastructure or distressed credit, true expertise and operational excellence create the conditions for sustained outperformance.
Legacy, Contribution and Sustainable Success: Beyond financial success, Natasha measures achievement through contribution. Supporting scientific research through the Centenary Institute and establishing fellowships for medical researchers reflects a commitment to leaving a positive impact. She hopes her children and business will continue creating value for others and believes sustainable success comes from building a capital base that generates income without depleting wealth. Ultimately, wealth should provide freedom and the ability to contribute, while remembering that “not everything in life has to be in it for you”. In another insightful conversation on the iPartners Grow Your Wealth podcast, Travis Miller highlights that long-term wealth is built not only through intelligent investment decisions, but through integrity, relationships and a genuine desire to leave the world better than we found it.
