Approach
How we own.
Four commitments. They decide what enters the house, how long it stays, and what is said about it.
- 01
Permanent capital
No fund cycles, no exit pressure.
One owner. No outside investors. Nothing has to be sold on a schedule. A position is entered because we intend to keep it, and it is kept for as long as it deserves to be kept.
- 02
Operator ownership
Patrick works inside the companies he owns, never above them.
Ownership here is a job, not a seat. The work happens inside the business: sales organisations, pricing, hiring, the parts that do not photograph well. Judgement without proximity is guesswork.
- 03
Aligned incentives
Management co-ownership in every position.
The people who build the value own part of it. Every holding is structured so management shares the outcome. It is the cheapest governance there is.
- 04
Impact accounting
One financial and one impact metric, reported annually.
Each holding reports two numbers a year. One describes the business. One describes its effect in the world. Two numbers are harder to hide behind than twenty.
The best returns compound quietly.