Investment Philosophy

We focus on investing in simple, intuitive businesses that are aligned with our families’ background, strengths, and preferences. Our investment philosophy is shaped by values that we share with our families:

  • Prioritize capital preservation and downside protection above capital appreciation
  • Underwrite conservatively– We believe the majority of returns are actually made by preemptively avoiding poor investments
  • Focus on building strategic and operational excellence, rather than on boosting returns through financial engineering (we conservatively use leverage in our transactions)
  • Assume the long-term perspective of a business owner to allow us to build businesses the “right way,” consistent with our values
  • Maintain the financial wherewithal to remain patient, eliminating financial pressures to pursue marginal deals during ‘frothy’ times or exit an investment prematurely when valuations are depressed