Business model
Our thematic approach
We adopt a thematic approach to origination and portfolio construction, backing businesses that benefit from structural trends which can support long-term sustainable growth.
Key enablers of value
Permanent capital and long-term investment horizon
We aim to compound our proprietary capital value through conviction in our best investments and by deploying our capital in new mid-market companies. Our proprietary capital affords us a long-term investment horizon.
A long-standing office network
We have a team of over 200 people on the ground across six offices in the UK, continental Europe and the US, which have built strong networks within their local business communities.
An expert and diverse team
Our international teams are formed of local people with great knowledge and experience of their geography and sector. We view diversity as a strength and a plurality of perspectives enhances our origination, value creation and decision making.
Careful portfolio construction
We approach portfolio construction with great care, originating opportunities thematically and investing selectively in businesses that can benefit from long-term structural growth trends.
Active asset management
We engage with portfolio companies’ management teams to manage risks and invest in initiatives that support long-term sustainable growth.
A strong brand and reputation
As an investment company with a history of over 75 years, our brand strength and long-term approach underpin our reputation as a responsible investor and business.
Strong values and institutional culture
We promote a strong culture of integrity among our employees and embed that culture in our policies and processes.
Value creation
We manage our balance sheet conservatively. We maintain a tight grip on operating costs and cover these with fund management fees and portfolio income.
Who benefits
Shareholders
Our model is capable of delivering mid-teen returns to shareholders through the investment cycle.
Our people
Our people are our most important resource. We foster the professional development and wellbeing of our employees.
Portfolio companies
We work in close partnership with our portfolio companies to provide expertise and support, enabling them to grow sustainably and to contribute to the communities in which they operate.
