Alternatives
Returns from where others can't.
Hedge funds, private credit and real assets — sourced through forty-year relationships with the world's most disciplined managers.
Hedge funds, private credit and real assets — sourced through forty-year relationships with the world's most disciplined managers.
Alternatives reward access, due diligence and patience. We have spent twelve years building all three.
Most alternative returns are made before the trade — at the manager selection stage. We allocate to fewer than 50 external managers globally, drawn from relationships that often stretch back decades.
Our hedge fund and private market programmes are concentrated, transparent to clients, and engineered to deliver returns uncorrelated with traditional bond and equity portfolios.
Six tests every external manager must pass before we allocate capital.
A clearly articulated investment process that has produced returns through multiple cycles.
Manager has meaningful personal capital invested alongside clients.
Position-level transparency — or it does not enter the programme.
Independent administration, audited financials, robust risk and compliance.
Manager closes funds when capacity is reached. Asset gathering for its own sake is a red flag.
Long-term thinking, intellectual honesty, willingness to say "I don't know."
Returns that pay for the complexity — and uncorrelated when it matters.
Slow by design.