Patient capital for families and foundations.
We invest for decades, not quarters. Our clients hold a small number of well-understood businesses, and we report on every one in plain language.
Book an introductory callWe invest for decades, not quarters. Our clients hold a small number of well-understood businesses, and we report on every one in plain language.
Book an introductory callWe hold 15 to 25 companies. If we cannot explain how a business makes money in two sentences, we do not buy it.
One flat annual fee, shown in dollars on every statement. We earn nothing from the products we select.
Turnover is low by design. Most holdings stay for seven years or more, so taxes and trading costs stay low too.
Concentrated public equities for investors with a horizon of ten years or more.
Investment-grade bonds and dividend payers, built to fund regular withdrawals.
Selected co-investments in private companies, offered to qualified investors in limited amounts.
Tell us a little about your situation. A partner will reply within one business day to set up a 30-minute call.