Profile

Objective

The investment objective of the company is to achieve absolute returns rather than relative returns over a medium-term period, principally through capital growth. Our strategy is to invest in publicly quoted companies which we believe will increase their value through strategic, operational or management initiatives based on a private equity approach to quoted companies. We follow a practice of constructive corporate engagement and aim to work with management teams in order to enhance shareholder value. We attempt to build a consensus with other stakeholders and prefer to work alongside like-minded co-investors as leaders, followers or supporters. We are long-term investors and typically aim to hold companies for the duration of rolling three-year investment plans that include an entry and exit strategy and a clearly identified route to value creation. The duration of these plans can be shortened by transactional activity or lengthened by adverse economic conditions.

Managed by

Management & contract fees

Basic management fee is 0.75% of the NAV of the company, payable quarterly in arrears. The performance is 10% of any excess of the NAV total return over the higher of the Benchmark NAV per share and the high watermark. The contract is terminable on 12 months notice.