Our investment philosophy is summarised as follows:
Private Markets Are Inefficient – There are persistent market inefficiencies in the provision of capital to private companies. These inefficiencies provide the opportunity for excess returns to investors able to identify, research and select quality companies for investment.
The Ability to Identify Inefficiencies is Enhanced by Insights from Academic Research – The ability to identify market inefficiencies is enhanced by combining the insights from academic research in finance with quantitative and qualitative data on private markets.
Capturing Returns from Inefficiencies Requires Specialist Human Capital – The ability to generate superior, risk-adjusted returns in private markets is associated with specialist human capital. We believe in the primacy of human capital in private markets investing, and seek to identify and invest with individuals and firms who possess investment capabilities which result in persistent out-performance.
We strive to integrate our investment philosophy into all areas of our investment strategy, investment selection, execution and management processes, in order to generate superior, risk-adjusted returns for investors.