How We Allocate Capital.
Capital is allocated according to risk-adjusted returns and long-term cash flow generation.
Where capital flows.
A directional view of how capital is weighted across our five arenas. Allocations shift with opportunity, not calendar.
- Public Equities25%
- Private Credit15%
- Business Acquisitions35%
- Government Contracting15%
- Real Estate10%
Five arenas. One discipline.
Public Equities
Concentrated positions in high-quality, durable businesses with disciplined valuation.
Private Credit
Senior secured lending to lower-middle-market borrowers with downside protection.
Business Acquisitions
Permanent ownership of cash-flowing, founder-led companies.
Government Contracting
Service businesses serving federal, state, and defense end markets.
Real Estate
Income-producing assets and selective opportunistic plays in resilient markets.
How decisions get made.
Risk-Adjusted Returns
Capital flows where the margin of safety and expected return justify it.
Long-Term Cash Flow
We underwrite for durable free cash flow, not headline IRR.
Concentration Over Diversification
A small number of well-understood positions outperform sprawling portfolios.
Permanent Capital
No fund clock. We hold winners indefinitely and reinvest the compounding.