Our investment approach is most commonly associated with classic value investing. We look for opportunities across the globe where markets price opportunities below their intrinsic value or where liquidity is in short supply relative to opportunity. We believe that value realization can come from manager skill or the mean reversion of a market dislocation. Our long-term horizon gives us and our partners the opportunity to create value in a disciplined manner that spans decades. Being a value investor does not preclude us from investing in high growth businesses. In fact, a significant portion of the portfolio is allocated to high growth opportunities in the Venture Capital space. Our value bias requires us to find high growth opportunities where there is an attractive risk-reward scenario and/or where our partners can add significant value to the underlying investments.