Occasional writing from our Chairman, principals, and sector heads on the discipline of long-term investing, the industries we know most intimately, and the world in which capital is deployed.
In a market obsessed with movement, the hardest and most valuable decision is often the decision to wait. A reflection from our Chairman on activity, inactivity, and the compounding cost of the middle ground.
The re-nationalisation of critical infrastructure is not a threat to global capital — it is an invitation to a new kind of partnership. Our Head of Infrastructure on where the next decade of opportunity lies.
As capital rushes toward the frontier of artificial intelligence, we remain committed to the substrate on which that frontier depends: energy, logistics, food, and shelter.
Our annual report to principals — a candid accounting of what we bought, what we sold, what we held, and what we learned across the year.
