The Hardest Fund I to Underwrite | Zach Ruchman

The Hardest Fund I to Underwrite | Zach Ruchman

From Superclusters - The Emerging LP Podcast by Superclusters by David Zhou

June 1, 2026 · 1h 32m · Season 7 · Episode 8

About this episode

Zach Ruchman discusses his career in private markets and the challenges of fundraising for investment funds.

“The question at Fund IV is, ‘Okay, you’ve proved that you’re a great firm builder. Congratulations, you’re raising Fund IV. Are you still a great investor?’” Zach Ruchman joined HB Wealth in 2025 as a Shareholder after working with WMS Partners since 2023. In his role as Managing Director, Private Markets, Zach leads the team responsible for research and due diligence of private market investment opportunities across a variety of asset classes, including private equity, growth equity, venture capital, private credit, infrastructure, and real assets. Before joining HB Wealth, Zach was a Senior Vice President at RockCreek and a Vice President at BlackRock, where he led direct co-investment transactions as well as manager research for both primary and secondary commitments in the Americas, Europe, and Asia on behalf of both institutional and family office clients. He began his career as a consultant with Alvarez & Marsal. In this episode, we also talk about how he worked out of the National Democratic Institute's DC office writing grants and tracking political regimes in the Middle East, including the Arab Spring. In the community, Zach serves as a member of the finance…

People in this episode

Host: David Zhou

Guest: Zach Ruchman

Topics covered

Keywords

Mentioned in this episode

Organizations: HB Wealth, WMS Partners, RockCreek, BlackRock, Alvarez & Marsal, Howard and Geraldine Polinger Family Foundation

Places: Middle East

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