Jeff Conrad: Building a Legacy

Name: Jeff Conrad

Preferred Pronouns: He/His

Hometown & Current Town: Richfield, PA/Boston, MA

Graduation Year: BS 1983

Major: BS Agribusiness Management

Additional Degree & Institution: MS Cornell

Current Professional Title: President and Founder

Name of Organization: AgIS Capital LLC

Brief Description of Your Role: We are an institutional investor in farmland. We take money from endowments and pension funds and buy large agricultural assets or farm properties. We bring capital to the farming enterprise to make it more efficient and more profitable for our client base, which is made up mostly of retired teachers, public employees, and similar individuals.

Our investment strategy is focused on permanent crops such as almonds, pistachios, walnuts, wine grapes, olives for olive oil, apples, pears, cherries, etc.

Why did you choose Penn State?

I grew up in rural Pennsylvania and was in 4-H, where I was exposed to Penn State, so I applied. It was the only place I applied. That might seem strange given today students often apply to five or more schools but I was the first person in my family to go to college and I didn't have the tools to explore or fully understand the process of looking at and applying to colleges. There was no one to direct me except my mom who knew I should go to college and she also knew it would be good for me. So basically, there wasn't a lot of research that went into it. I think that was, and still is, true for many rural and first-generation college students.

What inspired you to pursue your degree?

Since I grew up on a dairy farm and didn't know what I wanted to do, I started in dairy science because that's what I knew. Most students in the program figured they would return to the farm after graduation but I knew that wasn’t what I wanted or was going to do. So, I immediately went to my advisor and asked for help, and we started talking about different majors. I always enjoyed finance, investing, and was good with numbers. After about 30 minutes, I landed on agricultural business management, which would allow me to capitalize on what I already knew about agriculture and my interest in business. I ended up loving the major and it set me on my career path.

What clubs, organizations, or leadership roles were you involved in?

Sitting in my first-year biology class in Schwab Auditorium with several hundred students, I realized the class was larger than my whole high school! I was in a different world. College was a real adjustment for me. I didn't feel I was as well prepared as students coming from bigger high schools in suburban areas and I had some catching up to do.

I knew I needed to get involved on campus. I joined the Dairy Science Club the first year and then the Penn State AgriMarketing Team (NAMA). I played IM sports. I also had to work to make ends meet, sometimes more than 30 hours a week during the semester, so I was busy to say the least.

What is a favorite Penn State memory?

I love to think back to my senior year and the Sugar Bowl of 1982 in New Orleans where we beat Georgia for the national championship. My college friends and I no money, but we got tickets and eight of us piled into two old cars. On our way down we stayed a night in Tuscaloosa to see Alabama because we thought that would be fun. We just had a wonderful experience in New Orleans. That was a high point at Penn State.

How has your Penn State education influenced your career or life?

Penn State opened my eyes to different perspectives and provided me with so many opportunities beyond my rural background. I had great mentors and made good friends at Penn State. I also learned early on that I had to advocate for myself and that you must develop grit and determination. Once you have that anything is possible. That realization has stayed with me and influenced my entire career.

Over the course of your career, you've worked for the U.S. government, and various financial firms before founding your own investment firm. Can you talk about taking that step into entrepreneurship and what it takes to be successful?

After working briefly in the Reagan Administration as a policy and budget analyst, I eventually landed at John Hancock and began a 23-year career, where I retired from in 2011 before starting my own firm. I learned the value of networking right from the start and had some amazing mentors and business partners who believed in me and told me that if I ever wanted to leave Hancock they would back me. When it was time, I had a network to be able to go out on my own with partners.

It's so important to network. That network allowed me to take that step, and I knew I had people behind me and supporting me in this next effort. While the corporate environment can seem risk-averse, it was a great training ground for someone like me, and it helped prepare me to take the next step and start my own firm.

You are an avid supporter of Penn State and the College of Agricultural Sciences both through your time and through the creation of scholarships, support for access and equity and the Center for Sexual and Gender Diversity, which is named for you, and Pennsylvania 4-H. Why do you feel it's important to give back and to support these areas?

I have been blessed in my life in so many important ways. I have a great husband, family, and friends. I have done well financially, so it is important to give back. It has not always been easy when I think about the personal struggles and the barriers I encountered along the way. Growing up as a gay man in the 1980s from a rural area was difficult to say the least. While it is different today, I know obstacles remain for lots of people from all different backgrounds.

That's why it is important to me to help remove barriers and hurdles for others, be it removing the annual fee for 4-H to providing the Center for Sexual and Gender Diversity with resources to be a place for students to go and talk to someone and get the resources they need. That's something my generation didn't have.

What are one or two of your proudest accomplishments in which your Penn State education played a role?

Founding, developing, and growing AgIS Capital is one of my greatest accomplishments. I had to believe in myself and rely on my network. I learned at Penn State that either you sink or swim and I developed that grit and determination to be successful. I'm proud of that.

Building a legacy of giving is another accomplishment of which I am so proud. For example, scholarships helped me along the way and I want to do the same for others.

What collegiate advice or professional development tip would you give to a current student?

These aren't very glamorous but I believe in them. First, get out and network. Talk to everyone you can.

Second, once you get into a company, if they ask for volunteers, your hand should go up first. If you volunteer often, you get exposed to more co-workers, bosses, and executives. You never know who will be there to advise and help you. They’ll remember you and your work. Those interactions are critical to your success.

Third, don't be afraid to ask questions. Most senior people welcome the opportunity to chat with you and share their knowledge, whether it's in a work situation or when you're volunteering together for something.

Finally, be flexible. The world is changing fast. There are jobs that will exist in the future that don't exist yet. AI is changing things. Work hard, believe in yourself, and you'll accomplish a lot.

Why are you proud to be a Penn State Ag Sciences alum?

It gave me the pieces I needed to be successful. It's probably not true for everyone but coming from that small town and getting thrown into a large setting, it was a great environment.