Our investment strategy seeks to achieve attractive, risk-adjusted returns by opportunistically assembling and managing a concentrated portfolio of up to thirty deep value and special situation investments in accordance with a pre-defined set of investment criteria.
Central to the strategy’s systematic approach is the identification of deep value investment opportunities across developed equity markets within North America and Europe.
Our investments are focused in publicly listed companies that are priced significantly below our assessment of their intrinsic value often due to short-term adversity or uncertainty. In addition, the company’s management must be taking clear actions to increase the value of the company. These actions may include one or more of the following:
- Improving Operational Efficiency: identifying opportunities to significantly improve operations.
- Improving Shareholder Returns: returning excess cash to shareholders through increased payouts via dividends and/or stock repurchases.
- Optimising Capital Structure: increasing leverage to support increased shareholder returns. Alternatively, identifying new capital to support growth or restructure the business following bankruptcy or financial distress.
- Refocusing Operations: reducing diversification through sales and/or spin-offs to refocus the business on its core operations and strategy.
- Increasing M&A: increasing mergers and/or acquisitions to reposition the company. Alternatively, positioning the business as an acquisition target.
- New Management: hiring a new management team to reinvigorate the company.