Size: Typically $15mm to $100mm of invested equity

Investable Themes:

• Highly fragmented markets with attractive macro tailwinds but in which local or regional market share can out-compete national scale

• Services in which technology creates economic moats rather than poses an existential threat 

Priority Sectors:

• Healthcare services: Care in the home, Services to the growing U.S. Senior population, Medicare Advantage-focused services, and Diabetes care management tools

• Less Discretionary B2B Fleet-based Services  

Transactions: Buyouts and Majority Recapitalizations

Ownership: Majority preferred