Like private equity and activist funds...
As an investor in Being, You will be investing in public stocks, in parallel with the most renowned and promising active ownership investors (Private Equity/Hedge Funds/Activist Funds).
You will have access to investments targeting outsized returns (targeting 30%+ IRR, and 2x+ MOIC in each investment), predicated on the identification of significant mispricing and important operational and strategic change.
You will thus have access to the results of “active ownership” and the alpha it generates.
…but with added benefits
However, compared to Private Equity Funds/ Hedge Funds/ Activist Funds, by investing through Being, your investment will be charged lower fees, as we have a low cost investment strategy, predicated on the fact that we are only “fishing were there is fish".
Your capital will also be more accessible to you, through higher liquidity, as we are not typically driving the ownership agenda ourselves. This also means we can be more flexible and nimble, allowing your capital to trade in and out of situations more freely, taking advantage of temporary swings in pricing to optimize risk and returns.
Strong historical track record...
The strategy is proven, and has delivered 24% CAGR during eight years, beating relevant market indices with 14-17% per year.
During these years, we have made over 30 investments, all in companies where we have identified significant undervaluation and/or potential to increase the companies' intrinsic value. Over time our strategy has been improved and optimized for the benefit of our clients.
...and a high-performing team
The team of Being has a strong track record of delivering exceptional value to our clients and to our companies. We have managed USD billions in the public and the private markets, built billion dollar companies as CXOs, steered transformative companies as board members and advised blue chip companies as consultants.
Our mix of competencies, that includes both operational, investment, and advisory capabilities are perfectly suited for this strategy.
We are an active manager, investing in 8-12 high conviction cases over the cycle, each for a period of three to five years. We invest in companies that we understand, with predictable cash flows. But we also need to identify undervaluation and the possibility to increase intrinsic value, through strategic and operational change. We are always looking for companies with active owners, be it ourselves alone, or in tandem with others.
25,0 x MOIC and 70% IRR realized returns
Investment made between 2010-2016. Company with two brands: Kopparbergs Cider, a category killer as the first pear based cider in the world, and Sofiero, the most sold beer brand in Sweden. Traded at 4x EBITDA with 3x Net Debt. Grew at ~15% CAGR per year during holding period, due to international expansion of cider. Doubled EBITDA margin from ~10% to peer levels at ~20%. Formed a distribution agreement with SABMiller during holding period.