Mandate
We deploy permanent capital with a long horizon. We invest selectively, with high conviction and disciplined risk management.
| Attribute | Policy |
|---|---|
| Capital base | Permanent capital. No forced exits. |
| Objective | Long-term compounding. |
| Portfolio construction | Concentrated. Typically 8–15 core positions. Hard cap of ~20–25. |
| Instruments | Public and private equity, SPVs, and opportunistic situations. Selective private credit when asymmetric. |
| Time horizon | Long duration by default. Opportunistic when mispriced. |
| Underwriting | Fundamental work, independent judgement, and margin of safety. |
| Risk | Position sizing, liquidity awareness, and drawdown discipline. |
| Partnership | Founder-aligned, low friction, and long-term. |
Capital base
Permanent capital. No forced exits.
Objective
Long-term compounding.
Portfolio construction
Concentrated. Typically 8–15 core positions. Hard cap of ~20–25.
Instruments
Public and private equity, SPVs, and opportunistic situations. Selective private credit when asymmetric.
Time horizon
Long duration by default. Opportunistic when mispriced.
Underwriting
Fundamental work, independent judgement, and margin of safety.
Risk
Position sizing, liquidity awareness, and drawdown discipline.
Partnership
Founder-aligned, low friction, and long-term.