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Our Guiding Principles
1. We are value investors
investing on a long-term basis.
2. Debt does not drive any transaction. If the unleveraged return looks average and the
leveraged return looks extraordinary, the deal is average.
3. A higher percentage of our total capital will be at risk
more than any of
our investors' capital.
4. We are not, and will not be, fee driven.
5. If we are attracted to an asset class or deal in which we
need additional local knowledge or industry-specific experience, we will find a
partner we trust to share in the investment (assuming that the partner is an expert
in that asset class).
6. We will, to the best of our abilities, continue to choose
and work with partners that share our value system and our investment
philosophy.
7. We will perform exhaustive due
diligence.
8. We will treat all parties with respect, and be honest and straightforward.
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