We look for high-quality companies led by talented management teams who care deeply about the businesses they run.
Specifically, we seek businesses which:
- Have an entrenched and sustainable competitive position.
- Have a track record of generating attractive returns on invested capital and free cash flow across multiple economic cycles.
- Benefit from positive structural market trends, providing high visibility on expected volume growth.
- Present multiple untapped levers for operational improvement or corporate development.
- The composite picture is one of companies with recurring, predictable and visible revenues and cash flows.
Our targeted business characteristics are typically found in asset-light service businesses or product businesses which have a strong service component.
- Technology-Enabled Business Services
- Healthcare
- AI/Data and Software
- Consumer
Within these, we are focused on specific sub-sectors that best meet our investment criteria.
