Our Services

Inspired by leading endowments, our singular mission is to compound our clients’ capital over the long-term.

Our Approach

We apply an endowment-style investment approach to promote long term capital growth for our clients. This approach has the following key characteristics:

  • Based on global family office mandates & leading US and European endowments

  • Focus on compounding capital over the long term

  • Partnering with exceptional external fund managers

  • Direct public and private investment teams

  • Expertise in private strategies and co-investments

Private Markets

Our team has built up an extensive network of GP relationships over 20+ years of investing in private markets. We build portfolios of high quality, hard to access private funds diversified by size, geography and strategy.

Our approach to investing in private markets exhibits the following characteristics:

  • A disciplined, systematic approach to deploying capital is the key to generating attractive long-term returns.

  • Focus on a core group of managers to create well diversified portfolios that are low risk in aggregate.

  • Close relationships with often hard to access GPs, having advised on over $3bn of commitments to private strategies over two decades.

  • Up to 25% in co-investments and direct investments enhances returns and reduces the J-curve by deploying capital in years 1 and 2.

Public Markets

We invest directly in global equities by building a concentrated portfolio of high quality companies that enjoy secular growth prospects and which we can acquire at a reasonable price.

Our investment process can be broadly summarised as follows:

  • We look globally and focus on companies with a market capitalisation of $1.0bn.

  • We apply proprietary and time-tested financial criteria to identify quality growth companies as candidates for our portfolio.

  • We conduct a preliminary qualitative assessment to understand the target company’s business model and industry characteristics and re-confirm adherence to our financial metrics.

  • We undertake an in-depth study of the company’s business model, industry characteristics as well as carry out an intrinsic value assessment. This step involves establishing contact with the company’s management and assessing industry peers. Our findings are summarised in an internal memo and discussed internally.

  • We size the investment position to be in line with our risk control rules, conviction levels and add it to the portfolio.

  • We monitor the company assiduously on an ongoing basis. Should any of the below scenarios arise, were-evaluate and consider exiting the position:

    • Threat to competitive advantage

    • Change in business model

    • Permanent deterioration in fundamentals/outlook

    • Identification of a superior alternative

    • Changes to expected return

    • Portfolio risk management

Private Fund Selection

  • Core

    Our ‘Core’ Private Equity programme focuses primarily on mid-market funds in the US and Europe and comprises 10–15 core GP relationships.

  • Growth

    Our ‘Growth’ Private Equity programme focuses on growth equity, bootstrapped growth and venture capital managers in the US and Europe and comprises 10–15 GP relationships.

  • Direct

    We invest alongside Emerging Managers and our GP relationships to build a diversified portfolio of direct private equity investments. Our strategy is focused on mid-market buy-out ($100m–$1bn enterprise value) and late stage growth companies in Europe and the US.

  • Opportunistic Investments

    In addition to Private Equity, we make opportunistic investments in other private investment strategies such as private credit, real estate, and royalties.