We seek to invest with entrepreneurs, general partners, and sponsors who have successfully built or accumulated assets with demonstrable, but illiquid, value and either (a) have opportunities to invest as principals in their own high conviction ideas but lack the liquidity to do so, or (b) seek to realize liquidity against illiquid assets.

In our typical structured private equity transaction, we provide the capital needed to fund an opportunity and secure our investment via unrelated assets that our partner is willing to subordinate in exchange for retaining a larger equity upside in our investment. ​

Our agreements typically feature “convexity” by employing escalating cost incentives for early redemption by our partners. In many circumstances, we invest alongside a partner who shares our investing philosophy and plays an active role in managing the investment. We favor self-liquidating investments and opportunities in which we have the ability to recapture principal rapidly while participating in future value creation​.