Spring Mountain Capital’s first investment product offered strategies with exposure to third-party hedge and private equity opportunities. As a result, we have built significant infrastructure to support this effort. We recognize that achieving positive results requires a rigorous and systematic investment process centered around substantial expertise in strategy selection, the identification, evaluation and selection of managers, portfolio construction and monitoring overall portfolio risk.
The investment environment today is very different than it was when SMC launched. Today, we believe an attractive opportunity exists to invest in early stage, capacity constrained or small to moderately-sized outside managers and complementing that exposure with bespoke special situation investments and thematic direct investments. Our capital allocation decisions are driven by both macro considerations and deep diligence supported by both qualitative and quantitative analysis.