Allocation focused on equity, both private and public, and selective credit investments.
Combining long-term and opportunistic investments.
Prudent use of leverage.
Proven business models with a sustainable competitive advantage.
Preference for sectors showing structural growth and not easily disrupted.
Companies showing an attractive cash flow and ROCE profile with growth prospects.
Focus on businesses with strong management teams.
Proactively partnering with like-minded investors.
Aligning interests with the common goal of value creation.
Equity tickets typically ranging from €20-200m (sweet spot €50-100m).
Agnostic in terms of sector, geography and security.
Ability for being a majority or minority shareholder.
Start up (VC) companies with unproven business models.
Cyclical businesses, highly levered or which require significant restructuring.
Businesses heavily dependent on regulation.