Investment criteria
What we will, and will not, consider.
The page below is written to save your time before it saves ours. We lead with the no, then the yes. If you can self-qualify out in two minutes, that is the point.
First, the no
We will not look at any of the following, and we would rather you knew now than waited for the reply.
- —Anything outside healthcare, real estate, or owner-operated services.
- —Sponsor-led broad auctions and banker processes.
- —Turnarounds, distressed situations, and special situations.
- —Early-stage venture and pre-revenue companies.
- —Minority investments without governance and information rights.
- —Funds, fund-of-funds, and indirect commitments.
Then, the yes
Sectors
- Healthcare. Clinical services, specialty practice, and the infrastructure that supports modern care delivery.
- Real Estate. Direct ownership of commercial and residential assets, with a structural preference for the Mountain West.
- Services. Owner-operated services businesses with enduring demand and repeatable execution.
Situation types
- — Founder transitions and family ownership transfers.
- — Recapitalizations where the operator stays in the seat.
- — Sponsorless transactions, bilaterally negotiated.
- — Partnerships with existing operators where we provide capital, in-house disciplines, and patience.
Check size
Equity commitments typically between $5M and $75M per situation, written from a single balance sheet. We will go larger when the partnership warrants it.
Geography
United States. Material concentration in the Mountain West, where we live and where the team operates.
Hold period
Indefinite. We do not underwrite an exit. The right duration is the duration the business deserves.
If it fits
The next step is one short email.
We tell you what to send and what you will hear back. No form, no portal, no broker layer.
How to bring us a deal