Highwood Value Partners is a fundamental value investor in European securities with an opportunistic, concentrated and long-term approach. The firm is differentiated by it's endowment like approach, clear incentives and direct alignment with investors. The firm has a culture defined by its values of humility, self-improvement, ownership and rational, independent thought.
Fundamental Value Investing, with a focus on European equities
The Firm is a fundamental value investor, with a concentrated, opportunistic and long-term approach with a focus on European equities. The firm targets a concentrated portfolio of outstanding businesses with aligned and capable management, bought at a discount to a conservative assessment of their worth.
Highwood's mission is to compound each dollar of invested capital entrusted to the firm's care into five dollars over a ten year period, without taking undue risk. Risk is defined as the probability of permanent impairment of capital. The firm's goal is long-term and destination based to align with its underwriting approach for potential investments.
The firm operates with a clear straight forward value oriented investment philosophy similar to the Buffett Partnership, which prioritizes safety of capital, independent thought and a long term approach.
The firm focuses on two types of mispriced securities in Europe, where the portfolio manager has developed a circle of competence: Core Value equities and Net-Nets. The Core value strategy focuses on finding business with staying power run by long-term owner operators that can allocate capital in their business at high incremental returns. Net-Nets is classic deep-value investing with a catalyst
Desmond Kingsford, CFA. Desmond is the firm's founder and portfolio manager. He holds an MA in Philosophy from Cambridge University and a B.Comm from McGill University. Prior to founding Highwood Value Partners, Mr. Kingsford was a Senior Analyst and Partner of MSD Partners (Europe) LLP, the European office of MSD Capital LP, the exclusive manager of Michael Dell’s personal capital for 11 years