Portfolio Construction

We employ a bottom-up approach to portfolio construction, building a model portfolio based upon the pre-eminent managers expected to be in the market over the investment cycle.

Key attributes of our portfolio construction include:

Concentration:

A focused portfolio of managers that forces a "high bar" on manager selection, such that every fund plays a role in the portfolio

Optimised diversification:

Deliberate diversification across manager investment styles, geographies and sector exposures

Time managed:

Multi-vintage year approach that creates a portfolio of the most compelling opportunities, rather than "best available" at any given time

Focus on liquidity:

Allocations to direct co-investments and secondaries to mitigate J-curve and enhance the return profile