Vehicle: Classic search‑fund model with two stages (search & acquisition) and an on‑site operator
Return target: Approximately 35 % internal rate of return (IRR) on invested capital; no cap on equity returns
Hold period: Long Term; Typically 5–8 years; exit through sale, recapitalisation or share buyback
Capital structure: Preferred equity with a 50 % step‑up; senior to common equity; moderate leverage
Governance: Board of 3–5 investors/industry experts; the Principal earns a discretionary share of common equity (vesting at closing, over time and performance)
Risks: No acquisition opportunity, operational surprises and exit market risks. These are mitigated through focused sourcing, rigorous due diligence and hands‑on management
If you are a qualified investor and interested in participating, please contact us for the full private placement memorandum.
