| Typical Portfolio Composition |
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- 30-50 holdings
- Minimum position = 1%
- Maximum position = 10%
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- Defensive currency hedging
- < 10% emerging markets
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| Diversification by: |
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Stage of Investment
- Early, middle, late
- Overweight mid & late
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Capital Structure
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Industry
- Sector & sub sector
- Broad diversification
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Geography
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Investment Process |
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Using an extensive proprietary database of eligible companies and their underlying portfolio holdings, we create an investable universe of publicly traded private equity companies.
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Global Universe (200+) |
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| Quantitative Research |
- $100mm market cap or more
- Valuation methodology
- Distribution History
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- Historic returns
- Specific underlying investment valuation
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Qualitative Research |
- Management teams and track records
- Macro Investment themes
- Audited financials
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- Current investment strategy for each listed private equity company
- Transparency
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Global Coverage List (100+) |
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Fundamental Research |
- Industry contacts
- Private equity firm management
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- Portfolio company contacts
- Experts (bankers, aquisition professionals)
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Financial Modeling |
- Age of portfolio
- Valuation methodology
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- Analysis of specific underlying investments
- Upcoming liquidity events
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Valuation |
- Identify situations where we believe potential growth exceeds current expectations
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- Comparison of underlying asset value with valuation of publicly traded security
- Identification of undervalued situations
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30-50 Securities |
Introducing Listed Private Equity |
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- Publicly traded private equity
- Over 200 names, representing $250 billion market cap
- Organized as C Corps & Business Development Companies
- Capital structure allows for evergreen investment pool
- Only top-tier private equity managers get access to
public market
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