Frequently Asked Questions

Similar to a private equity firm we have Limited Partners (LPs) that invest alongside us in our transactions. Our primary source of capital is structured in a way that would align us much more closely with a Family Office that runs a sister operation as an independent sponsor. This means that we periodically source debt and equity from external parties. Our focus is to invest in cash-flowing businesses in the US that can be held for the long term. While we occasionally make use of debt when structuring investments we generally shy away from what would be traditional leveraged buyouts (LBO) that make use of mostly debt to finance a transaction.

No, we are not what would be classically defined as a search fund, in any traditional or self funded search. While a search fund is a type of investment vehicle that allows entrepreneurs to raise money to acquire and run a company, those vehicles are stand-alone entities. We are similar to a search fund in that we often acquire companies in need of a management transition. But we differ materially in that we generally do not operate under any of the restrictive financial and time-bound characteristics of a search fund. Our capital sources are much more varied and less restrictive.

The firm is a partnership run by principals who work with entrepreneurs based on a carefully developed set of investment criteria. All of our partners and executives in residence have material ownership in any transaction they complete with us.

The principals in the firm have extensive operating experience and have run the companies they started, acquired as Presidents/CEOs and chair members. The majority of the firm's partners have had extensive operating roles in some of the world's most capable firms. We view investments through an operating and investing lens, not independently. We seek to balance both operational experience in a specific industry and underwriting competency so that we can provide valuable insights and guidance to investee firms well after close.

Yes, we are actively making investments in US lower and middle markets. Our investment criteria are detailed for intermediaries and on the press & writing pages of this website. We outline in detail what we look for both sellers and for our investors across the website.

Yes – we are seeking new members. However, we are highly selective and turn away most candidates, not because they are incapable, but because we are searching for specific characteristics that align with our business model and ability to create value. This screening also applies to the businesses we invest in.