Recorded Feb 10, 2026
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Episode 012 Summary:
Chris J. Snook welcomed Adam Campbell, Managing Partner of Fund Launch Partners, who shared his atypical background in back-office operations, professional growth within a private equity group, and his personal goals related to the Scottish Clan Campbell legacy. Adam Campbell discussed the challenge of high-net-worth individuals seeking authentic relationships and the mission of Fund Launch Partners to democratize Wall Street by bridging family offices with emerging alternative asset managers. Adam Campbell explained the evolution from Fund Launch’s “fund in a box” to Fund Launch Partners. This GP solutions advisory group invests in small and micro-cap first-fund managers, and invited high net worth individuals, advisors, and family offices to connect and explore investment opportunities.
Details
Welcome and Background of Adam Campbell Chris J Snook welcomed Adam Campbell, Managing Partner of Fund Launch Partners, to the show, noting that the firm offers unique services in the market (00:00:00). Adam Campbell shared that he has an atypical background for the asset management space, growing up in a family of accountants and engineers (00:00:51). Influenced by his accounting relatives, Campbell pursued a career in math and accounting, working with uncles and CPA firms at a young age (00:01:38). This led to a career where they got a CPA and worked on turnaround companies, setting the stage for work in back office operations, including a large private equity group in the mid-2000s (00:02:22).
Career Growth and Professional Mentorship Adam Campbell was a founding employee at a private equity group starting around 2006/2007, running with them for about 10 years, during which the firm grew from zero to approximately $5 billion in assets under management (AUM). Campbell was responsible for audit coordination, tax coordination, cash flow management, capital calls, and investor statements, highlighting the mentorship received from the publicly traded company CFO, Chad Briggs (00:03:09). The systems and processes that Campbell helped build were still in use when the company IPOed and was later bought by Apollo at close to $50 billion AUM. This experience instilled a passion for back office organization and systems, which Campbell noted is often taken for granted (00:04:07).
Personal Legacy and Scottish Heritage Chris J Snook inquired about a little-known fact that Adam Campbell wrote about being next in line to be a chieftain in a Scottish clan. Adam Campbell confirmed they live and founded Fund Launch Partners in Salt Lake City, Utah, where they live with their family (00:05:08). Campbell’s passion for their family name, Campbell, a large Scottish clan, grew from working in family office management and observing high net worth individuals seeking legacy and immortality (00:05:50). Campbell realized that for themself, the family namesake would be remembered, leading them to dive into their Scottish heritage, which includes 800 years of history and castles (00:07:43).
Goals for the Campbell Legacy Adam Campbell shared a goal to positively impact the “Campbell of the world,” which they estimate to be about two million Campbells and 14 million people in the surrounding ecosphere (00:08:36). Campbell suggested this is a better use of effort than just putting their name on a library. Furthermore, Campbell is working toward the possibility of being in charge of the North American region of the Clan Campbell Society of North America in the next six to nine years, traditionally the chieftain’s title for a territory (00:09:43). Chris J Snook appreciated Campbell’s passion, recognizing that it aligns with the show’s purpose of finding humanity in what they are doing (00:10:32).
Wealth Transition and Finding Purpose Chris J Snook connected Adam Campbell’s personal drive to the audience of advisors and wealthy individuals, noting that the skill set used to accumulate wealth is often not the same skill set needed to transition to the next phase of life or maintain it (00:11:30). Campbell elaborated on their experience managing mini family offices for high net worth individuals, observing that their primary resource is the ability to solve problems with money (00:13:24). They noted that more money makes it harder to build curated or empathetic relationships, creating a mismatch in problems faced compared to those with lower incomes, which can lead to different types of pain and stress (00:14:24).
The Need for Authentic Relationships for High Net Worth Individuals Adam Campbell stated that the easy answer for what $50 to $100 million families are seeking that money cannot buy is authentic relationships and deep connections. These individuals want to give back to the community, helping people and connecting with the person rather than just the financial problem (00:18:14). Campbell observed that building these curated relationships is the most rewarding part of the giving opportunity for family offices, contrasting it with merely sponsoring a scholarship or donating to a church group (00:19:06).
Fund Launch Partners’ Mission and Market Position Adam Campbell defined the mission of Fund Launch Partners as democratizing Wall Street, aiming to give good operators and asset managers the same access to capital and growth as giant Wall Street firms (00:20:51). Chris J Snook asked how Fund Launch Partners serves as a bridge for family offices, who have a long-term time horizon and can finance non-easy-to-solve problems, to access competent alternative asset managers (00:21:49) (00:23:33). Campbell agreed they serve as this bridge, recognizing that most RIAs, which are fragmented, cannot offer alternative investments due to small check sizes and lack of platform access (00:24:25) (00:27:25).
Challenges and Opportunities for RIAs and Emerging Managers Adam Campbell pointed out that the public markets are becoming less attractive, and the movement towards alternative assets leaves RIAs at a disadvantage because they cannot easily onboard small alternative asset managers without selling off their book of business (00:26:25). Campbell also addressed the $2 to $50 million family segment, which is too small for a family office but represents 14 million families in the US, noting that these families are worried about the future and feel marginalized in the current financial structure (00:28:18). Campbell asserted that a lot of family offices are unhappy with their current investments (00:30:07).
Evolution of Fund Launch and the Fund-in-a-Box Concept Adam Campbell explained that Fund Launch evolved from an advisory group called Fund Launch, which focused on helping good asset managers become fund managers by addressing the three key parts of a fund: asset management, fundraising, and back-office functions (00:30:07). Founder Bridger Pennington created a “fund in a box” template to help solid operators in various asset classes, who often lack a “war chest of capital,” understand capital formation, compliance, and assemble the necessary third-party teams (00:30:58). This system accelerates entrepreneurship and emerging managers in asset-driven businesses (00:32:47).
The Function of Fund Launch Partners as a GP Solutions Advisory Group Fund Launch Partners was developed to stick with and partner with managers after launch, acting as a GP stakes or GP solutions advisory group (00:32:47). They invest in the funds alongside the partners to help them grow from small to large-scale asset management firms, using institutional best practices (00:33:43). Adam Campbell clarified that they operate in the small and micro-cap markets, focusing on first-fund emerging managers, which are often below the radar of larger firms (00:42:26).
Mechanics of Engagement and Investment Opportunities Adam Campbell detailed the process for potential partners, with about 50% coming through the Fund Launch ecosphere and others seeking support after launching their first fund (00:36:53). Fund Launch Partners package their investments into a fund offering, having about 13 funds currently and projecting more (00:37:41). Adam Campbell clarified that they are not a fund of funds but operate as a venture capital fund, buying a stake in the manager, investing into their general partnership, and sometimes making an LP commitment (00:39:16).
Investment Structure and Target Audiences Adam Campbell highlighted that an investment into Fund Launch Partners is a ticket to ride for family offices, allowing them to invest into a portfolio allocation of different managers in various sectors and becoming part of the GP. This aligns with the concept of buying into the managers themselves to promote entrepreneurs, which is central to the democratization of Wall Street (00:38:30) (00:40:03). Adam Campbell concluded by offering ways for interested parties, including high net worth individuals, advisors, and family offices, to connect, directing them to the Fund Launch and Fund Launch Partners websites and other resources like the Funds That Won podcast (00:43:17). They also mentioned opportunities for their fund investors to co-invest or co-GP in specific asset classes (00:44:49).
