Our investment strategy

Our investment strategy is focused on opportunistic European small and mid - cap secondary transactions.

A focus on the European secondary mid-market

Our investment strategy is focused on European secondary transactions and covers the entire span of the private equity asset class including buyout, expansion capital and growth technology transactions.

Within the secondary market, the mid-market segment (as defined by transactions below €100 million) remains under-served. We focus on the secondary market segment that falls below the size at which large publicised intermediated auctions take place. The specialist nature of this segment requires specific expertise, which we have developed through our extensive knowledge of the European mid-market and years of experience.

Since 2003, through our first two funds we have built a broadly diversified portfolio with exposure to more than 500 companies across industries, geographies, vintages and stages of maturity.

An opportunistic approach with specialist expertise in direct company portfolios

We look to purchase both individual and portfolios of fund shares from institutional or private investors.

We have also developed expertise in the purchase of direct company portfolios (direct secondaries), which require specialist know-how and execution capabilities.

Our direct secondaries comprise a minimum of three enterprises, and are purchased from a variety of sellers. These portfolios can take the form of tail-end funds, orphan funds, and corporate or public divestitures. In particular, we have a strong track record in complex direct secondaries.