Co-Investors
For fellow family offices and long-horizon partners.
We do not manage outside investor capital. From time to time, on a deal-by-deal basis, we invite a small number of fellow family offices and long-horizon partners to co-invest alongside us in a specific opportunity.
This page is a brief description of how those arrangements work.
How We Co-Invest
Deal-by-deal, never a blind pool.
Deal-by-deal
Each opportunity is offered on its own merits with full information. There is no fund, no commitment, and no obligation to participate.
Aligned terms
Co-investors invest on the same terms as the family office, in the same instrument, at the same time. No carry, no preferred allocation.
Quiet by default
Allocations are small and the list of partners is short. We do not market the programme and there is no portal.
What We Share
Reporting that respects the operator.
Co-investors receive a short annual letter on each holding they are in, covering progress against the original thesis, material developments, and our current thinking. We do not produce quarterly mark-to-market reports; the businesses are not in a public market and we do not encourage thinking about them as if they were.
An in-person update is offered annually for partners who have co-invested across more than one holding. References to specific operators are made only with their knowledge.
We will say no to a co-investor request when an operator would rather we did not widen the cap table, or when the situation calls for a smaller and quieter ownership group.
Quiet Introductions