We invest across multiple managers, make speedy readjustments, as well as dynamically hedge to enhance risk-adjusted performance.
Our investment strengths lie in our ability to proactively identify and select excellent General Partnership interests on an ongoing basis. We continually strive to deepen our relationships with emerging GPs as well as established buyout and venture capital firms.
We assist in asset gathering given our understanding of key institutional evaluation criteria. We go beyond providing referrals and connecting GPs and LPs. We engage with GPs to provide advice on fund structuring, competitive strategy, sharpening fund proposition, assist in material preparation, pre-qualify LPs, test market with selected LPs and provide objective feedback.
Systematic Approach:
We follow a systematic process for manager selection too.
We consider both quantitative and qualitative factors in our manager selection process. We pay careful heed, for example, in consistent alignment between investing philosophy, process, resources, results of past performance and current portfolio holdings.
Our evaluation also incorporates extraneous factors such as the investing environment, sector /business cycles, past relative performance as well as factors internal to the GP such as prospectus information, management team and fund expenses .
Despite the general industry practice to do so, we do not believe that past performance is necessarily the best predictor of future performance. We see past performance as just another, albeit very important, factor.
Whilst recognizing the importance of a well-deserved earned reputation we carefully see fund manager returns in the context of environment, skills and chance. We rigorously examine performance accrual from both realized and unrealized investments, conformance to stated investment strategy, examine style drift, approaches to achieving investment exit and do a detailed risk return attribution analysis.
We begin by using our proprietary tools to quantitative screen managers on a variety of criteria that meets with our client's portfolio objectives. We evaluate and sometimes recalculate prior investment performance, benchmark relative performance and independently validate investment premise for new managers. Our relationships with fund managers and ongoing PPM solicitation efforts help us broaden the investment universe for our clients.
We then carry out a preliminary due diligence which consists of personal meetings, examine record of accomplishment, appraise a manager's investment philosophy, do reference checks and discuss legal and tax issues.
We carry out detailed due diligence only after our clients are convinced that there is adequate justification to proceed. We build arms length relationships with fund managers and welcome client participation throughout the evaluation process.
We take a lead role in manager selection, negotiating fair terms and conditions prior to making an investment and where appropriate act as an active investor.
Post selection, we continue to monitor client portfolios on an ongoing basis to ensure conformance with guidelines or changes in policy.
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