Investment Criteria

We focus on two dynamic sectors of the economy, financial services and healthcare services, that we believe hold significant opportunities for value creation, and where we have built a long-standing track record of success. We look for companies, based in North America, with exceptional growth potential that can build a sustainable competitive advantage in a well-defined niche or market sector. These companies embrace key growth drivers such as:

• leveraging innovative business models and specialization to create demonstrable scale advantages;
• utilizing applied technology and process advances that change their business paradigms; and
• employing unique business methods and structural advantages that drive operating and capital efficiencies.

Our primary investment interest is in growth equity situations in companies with $5 to $100 million in revenues. We look for proven business models that are profitable or have near-term visibility to becoming profitable, and target returns of 2.5x to 5x with a focus on preserving capital. We invest $5 million to $20 million over the life of an investment, and we typically act as a lead or co-investor.