Eighteen48 Partners is independent and wholly owned by its partners, clients and employees.
Our mission is to build lasting partnerships with our clients by managing their assets in true alignment with our own.
We are committed to investment excellence and recognise the importance of a genuinely long-term perspective.
Principals invest meaningfully alongside clients
Independent firm with partnership structure
Client representation on the board
Avoid over-diversification
Concentrated bench of external managers
Direct public and private equity selection
Focus on compounding capital over the long term
Broad relationships built up over 20+ years
Investment Committee members from endowments
Network benefits from sophisticated client base
Outperformance by diversified portfolios
Outperformance by direct global equity strategy
Outperformance by private equity portfolios
Julien has over 25 years of investment experience in public and private markets on behalf of leading entrepreneurs and industrial families. He was previously a partner at Stanhope Capital which he co-founded in 2004.
Julien was formerly a principal in Lehman Brothers' Private Equity Group and a senior M&A banker at Lehman in New York and London. He was a Board member of Worms & Cie, the diversified banking and industrial family group.
Julien is a trustee of Somerset House and chairs the development board of the Voltaire Foundation at Oxford University.
He received his MBA from New York University’s Stern School of Business, his BA from Brown University and is an alumnus of Oxford University.
Tarek has over 25 years of experience in private equity / venture capital and asset management for families and institutions. He is a director of Rezayat Investments and co-founded early stage VC investor Initial Capital.
Tarek was a partner at Stanhope Capital, where he led Merchant Banking and relationships in the Middle East Region. He was formerly a Managing Director at Berggruen Holdings, a family office and private equity firm, and a director in the M&A group at Credit Suisse / DLJ in M&A, corporate finance and private equity New York and London.
Tarek is a member of the council of the Freeman Spogli Institute for International Studies at Stanford University.
He received his MBA from Harvard Business School and holds an AB Economics from Stanford University.
Edward has more than 15 years of experience in investment management. Prior to Eighteen48, he was Investment Director of a large single family office where he was responsible for asset allocation and investments across all asset classes.
He was previously a Senior Director in the investment team at Stanhope Capital. He led research into equity-related strategies in both public and private markets, and latterly designed and invested the firm’s first private equity funds programme.
Before his time at Stanhope Capital, Edward was an equity analyst at Vantage Group, a global equity hedge fund manager. He began his career in M&A at Lazard & Co in London.
He graduated with a double first in Classics from Oxford University.
Christine has over 20 years of Asia Pacific operational and investment experience. She has worked both as an investment professional and CFO for various private equity firms in Asia, most notably Crescent Point in Singapore, and continues to serve on several investee company boards there.
Christine was previously CFO to several Singapore based start-up health care businesses and has worked as an investment professional on the buy and sell-sides at Lloyd George Management and UBS Warburg respectively.
She holds a BA with Distinction (Cum Laude) from Princeton University and is a CFA® charterholder.
Simon has over 35 years of experience in portfolio management and construction. Prior to joining Eighteen48, Simon was a Partner at Stanhope Capital where he worked for seven years managing the affairs of high-net-worth families and institutions.
Simon was previously the Head of Client Relationships at multi-family investment office Sand Aire where he was a member of the senior management team responsible for investment strategy and all client facing activities. Simon has continuously worked in leadership roles at various leading private banks in London including HSBC Private Bank, Schroder & Co, Barclays Private Bank and Kleinwort Benson.
Simon is a Chartered Fellow of the Chartered Institute for Securities and Investments and a Member of the Institute of Chartered Shipbrokers.
Mirko has over 16 years of experience in investment management, with a particular focus on portfolio and client management.
Prior to joining Eighteen48, Mirko was a Senior Director in the portfolio management team at Stanhope Capital where he spent nine years managing the affairs of a number of UHNW client relationships.
Mirko previously worked for Royal London Asset Management where he supported the pension fund managers and begun his career within the global custody world spending a number of years working for ABN Amro, Northern Trust and HSBC.
Mirko is a Chartered Member (MSCI) of the Chartered Institute for Securities and Investments holding the Investment Advice Diploma, Investment Management Certificate and Investment Operations Certificate.
Sue has 30 years of experience in portfolio administration and front-to-back office portfolio management systems.
She was most recently a Senior Business Analyst working for Kleinwort Hambros, responsible for the migration of their legacy wealth management and banking systems onto a new platform.
Sue previously worked for portfolio management software companies, spending six years at Third Financial Software and five years at Wealth Management Software, in both cases providing full project management and implementation support for new clients.
She has worked on the buy-side at AIB Govett Asset Management, Leopold Joseph & Sons and the Charities Aid Foundation. Sue is a PRINCE2 ® Practitioner and holds the Investment Management Certificate (‘IMC’).
Chandan has over 15 years of experience as a public equity investor, most recently as lead global equity portfolio manager at Rezayat Investments, a family investment company with a concentrated approach and long-term investment horizon.
Prior to Rezayat he was a Vice President at Capital Group, a $1.4 trillion asset manager, where he invested in growth stocks across sectors and market caps in Western Europe, India and Australia.
Chandan also worked with Morgan Stanley in Investment Banking, covering Financial Institutions.
He began his career at KPMG. He received his MBA from INSEAD and is also a Chartered Accountant.
Charles is a highly experienced investor in private equity funds, having spent much of the last 20 years investing in the asset class. He was latterly Head of Alternative Investments at the Kuwait Investment Office, focusing on private equity and credit fund investments across Europe.
Prior to that Charles was a Partner at Altius Associates, adviser to a number of leading institutional investors in private markets. He oversaw clients' European private equity portfolios and was a member of the firm's global investment committee.
Charles started his career in corporate finance at UBS and Robert Fleming.
He holds a BSc in Social Sciences from Durham University and an MSc in Finance from London Business School.
Oliver has over 20 years experience in private equity investing. He was latterly CIO of PMB Capital, focusing on co-investments.
Prior to that Oliver founded Moniol GmBH, an investment firm based in Switzerland that acts for HNWs and corporations as principal on private transactions. He was a partner at Duke Street in London, a mid-market private equity firm, and worked for Rhone Capital, a private equity firm based in New York. He started his career at Donaldson, Lufkin and Jenrette in the media and telecoms investment banking group.
Oliver has sat on various company Boards, including Xafinity and Independent Clinical Services.
He received his MBA from Harvard Business School and a BA in Economics from the University of Basel, Switzerland.
Ethan is CIO of Guy’s & St Thomas’ Foundation, one of the UK’s largest charitable endowments. He was formerly CIO of Kinship Trust Company in Chicago, managing the investment assets of a prominent mid-western US family.
Prior to that Ethan was CIO at Weybourne in London, the family office of Sir James Dyson, where he was responsible for designing, building and managing the family’s investment portfolios, investment team and operations. He was previously Director of Research at Partners Capital, a private investment office advising on multi-asset class portfolios for endowments, foundations and high net worth individuals. He began his career with strategy consultants Bain & Company in San Francisco.
Ethan holds a BSc in Physics and an MBA, both from Stanford University.
Alan has over 25 years of investing experience spanning multi-asset portfolio management, fixed income investing, and multi-strategy hedge fund management. He is CIO of Coutts & Co and was formerly a director of the $10 billion pension fund management company of Nestle.
At Coutts, which manages in excess of £15 Billion for its clients, Alan is responsible for the global investment strategy across all asset classes as well as constructing discretionary managed portfolios ranging from 100% fixed income to equity growth mandates.
Alan was previously at Morgan Stanley Wealth Management where he specialised in asset allocation, fixed income and alternative investments.
Prior to Morgan Stanley he had an institutional fixed income background, including managing money for Sovereign wealth funds and central banks.
He is a CFA® charterholder and holds a BSc in Mathematics from Bristol University.
Larry is CIO at Makena Capital Management, which was formed in 2005 by senior executives from the Stanford Management Company and other leading North American endowments and foundations. The firm invests some $20 billion across asset classes on a global basis.
Larry was previously CEO and CIO of the University of Virginia Investment Management Company (UVIMCO), which manages the endowment and other long-term funds held by the University, and before that was CIO of the Georgetown University endowment.
Larry also serves on the board of Janus Henderson Group, chairs the Investment Advisory Committee of the Virginia Retirement System, is on the board and chairs the investment committee of the Virginia Environmental Endowment, and teaches investment classes at the University of Virginia. He is a former Chairman of The College of William and Mary Foundation Investments Committee. Larry is the co-author of Foundation and Endowment Investing: Philosophies and Strategies of Top Investors and Institutions, which was published by John Wiley and Sons in December 2007.
Larry holds a BA in Economics from the College of William & Mary, an MBA in Finance and Accounting from the University of Rochester, an MA and PhD in Economics from the University of Virginia, and is a CFA charter holder. He is married with four children.
Giancarlo has over 20 years of experience in Private Equity at Apax Partners. He founded the office in Italy in 2000 and led many deals in the country. In 2011 he transferred to London to lead the Services team in Europe, providing support also to the team in India.
He has both led and participated in a number of key deals including Banca Farmafactoring, Sisal, Engineering, Tim Hellas, Weather, Azimut, Azelis, Rhiag, SafetyKleen and Chola.
Prior to that Giancarlo was a Senior Vice President at Monitor Company, where he specialised in telecommunications and consulting support to private equity firms. He also worked at Montedison in a staff function supporting the President of the company.
Giancarlo has sat on all the boards of the companies he invested in, acting also as Chairman on Azimut and Tim Hellas.
He received an MBA from Harvard Business School and a Summa cum Laude degree in Economics from La Sapienza University of Rome, Italy
Richard has 40 years of private equity experience with sophisticated families and institutions.
He has been a director and Investment Committee member of three large principle investing businesses including two family offices (Heerema's Frontera SA, and Bertarelli's Waypoint SA) and one private equity firm (Monitor Clipper Partners). He is currently an Advisory Director of venture builder Blenheim Chalcot, Director of ScaleSpace LLP, and Senior Advisor and Investment Committee member of the Larry Ellison Foundation. He has been a director of various public and private industrial companies including Moplefan (Italy), RobertsonCeco (NYSE), Petitjean (Second Marche, Paris), Sollers (Moscow SE), Liquiglide (USA), Esaote (Italy), Affidea (Holland), Northill Asset Management (UK).
He was a partner at Monitor Group Chairman of Reach to Teach, and Treasurer of the Start Network for Humanitarian Aid. He was also an advisory board member of the Legatum Center for Development &Entrepreneurship at MIT.
He holds a PhD in Regional Economic Development from Cornell University, First Class Honours in Agricultural Economics from Reading University and worked at the United Nations Centre for Regional Development, Nagoya, Japan.
Guillaume has over 20 years of experience in private equity investing. He was a partner at Advent International where he spent 18 years investing in growth and buyout opportunities in Europe and internationally.
Guillaume currently advises a number of growth stage businesses on strategic and operational initiatives.
Prior to his time at Advent, Guillaume worked for the LVMH Group in Asia. He began his career at the private equity arm of Credit National in France.
He received his MBA at HEC Paris and holds a Master’s Degree in Entrepreneurship from the UBC Sauder School of Business.
Jonathan co-founded leading international payments business World First in 2004. The business grew organically to 700 people and $15 billion of turnover with offices in 7 countries, and was twice awarded the Queen’s Award for Enterprise. Jonathan sold World First to Alipay in 2019.
Before setting up World First, Jonathan worked for Citibank and RBS Financial Markets. He now runs Q Capital, which has 15 start-up and early-stage investments in UK businesses. He is also a trustee of the Q Charitable Trust which supports charities in the UK and globally.
Jonathan grew up in Scotland and has a Law and Accountancy degree from Edinburgh University. He lives in South London with his wife and two daughters, but spends as much time as possible on the Isle of Mull. His interests include art, architecture, music, cars and business.
Hunter is a Partner at Greenspring Associates, the leading specialist institutional investor in venture capital funds and co-investments with over $8.5 billion under management in the space. He is responsible for sourcing and due diligence efforts on fund, direct and secondary opportunities.
Hunter serves on the LP Advisory Boards for funds managed by 14 venture managers, including Icon Ventures, Foundry Group and Scale Venture Partners.
He received his MBA at the Robert H. Smith School of Business with a concentration in Finance and Strategy, and holds a BA from the University of Pennsylvania in International Relations and History.
Edward Wray co-founded Betfair in 1999.
Betfair floated on the London Stock Exchange in October 2010 at a valuation of £1.4 billion and is now a FTSE 100 company. Edward has twice won an Ernst & Young Entrepreneur of the Year award.
Edward is an investor in and director of LMAX, Property Partner and Prodigy Finance, and Chair of the charities Mental Health Innovations and Coach Core Foundation.
James is the Founder, CEO and Portfolio Manager of Hitchwood Capital Management. Hitchwood's investment strategy involves making long and short investments primarily in global equities based on fundamental, bottom-up research and employs a differentiated and flexibly approach to hedging.
James has over 20 years of experience as a portfolio manager compounding capital and investing through various and extreme market cycles. He founded Hitchwood in 2014, after successfully co-founding and co-managing Scout Capital Management's equity long / short portfolio from 1999 - 2014.
He received his MBA from Harvard Business School and holds a BS in Engineering from the United States Military Academy at West Point, where he received the superintendent's Award, the Academy's highest distinction.
Since 1998, Charles and his business partner Manoj Badale have co-founded more than 30 businesses, largely technology-related, which are managed through their investment company Blenheim Chalcot. The Blenheim Chalcot portfolio consists of 20 companies in multiple sectors, with group sales in excess of £350m p.a. and more than 3,000 employees.
Charles is a national trustee of Onside Youthzones and chairs Onside in London. Charles is the chairman of Technology Trust, a social enterprise that helps more than 20,000 UK charities address the challenges of going digital. Charles also serves on the board of The Royal Foundation of The Duke & Duchess of Cambridge and The Duke & Duchess of Sussex.
He holds an MA in Philosophy & Psychology from Oxford University.
Nicolas has 30 years of experience in the Insurance and Asset Management industry.
He was formerly CEO of DWS Group, one of the largest asset managers in Europe with €692 billion of AUM, and a member of the Deutsche Bank Management Board. He led the listing of Deutsche Bank's asset management business on the Frankfurt Stock Exchange in March 2018.
Nicolas spent 25 years with the AXA Group, finishing his tenure as Chairman and CEO of AXA France. He began his career with Arthur Anderson.
Nicolas is a graduate of the Ecole Polytechnique and holds an actuarial degree from the Centre d'Etudes Actuarielles. He was awarded La Légion d’Honneur in 2015.
John spent over two decades leading Advent International, one of the most successful global private equity buyout firms. He was joint Managing Partner, a member of the Global Executive Committee, and Chairman of their European operations. He remained a Special Partner until 2015.
Prior to Advent, John was Managing Director of Granville Europe, where he founded and managed one of the first pan-European private equity funds. He was Chairman of the European Venture Capital Association (EVCA) and chaired their annual symposia for several years. He currently serves as a Director of Pantheon International plc, the longest-established private equity fund-of-funds on the LSE.
John is involved with several organisations within the arts and education sectors, including as a Trustee of the National Gallery in London, a Director of the city of London Sinfonia, and as an Honorary Fellow (and on the Development Committee) of Trinity College, Oxford.
He received his MBA from INSEAD in Paris and holds an MA in Philosophy, Politics and Economics from Oxford University.
Randy co-founded and ran Lone Star’s Japan office for 11 years, overseeing all aspects of the fund’s strategy and management until 2009. Investments during this period totalled $13 billion in distressed debt, real estate of all types, a regional bank, several finance companies, over 100 golf courses and a hotel business.
Most recently, Randy has been managing partner at Kitano Capital, a private investment management business he co-founded, focusing primarily on early stage opportunities. He also serves on the board of Nara Logics, an artificial intelligence company based in Boston.
He received his MBA in Finance and BA in International Economics from the University of California, Los Angeles.
Lionel is Chairman and CEO of CDIB Capital International, a leading pan-Asian private equity firm which he co-founded in 2006. He is also CEO of and Chairman of the Investment Committee of CDIB Capital Group, which has invested in and provided services to companies in Asia and beyond across all sectors since it was founded more than 50 years ago.
Lionel sits on the board of publicly-listed China Development Financial Holding, the parent company of CDIB, with approx. US$100 billion in total assets, as well as on the board of a number of the group's c. 260 portfolio companies.
Prior to CDIB Capital, Lionel was a senior banker in the investment banking division of Lehman Brothers, based in New York and London. Prior to Lehman Brothers, Lionel was a member of the global M&A practice of Booz-Allen & Hamilton in Europe.
He received his MBA with Distinction from the University of Pennsylvania's Wharton School of Business and holds a BS in Finance & Entrepreneurship from France's HEC School of Management.
Julien has over 25 years of investment experience in public and private markets on behalf of leading entrepreneurs and industrial families. He was previously a partner at Stanhope Capital which he co-founded in 2004.
Julien was formerly a principal in Lehman Brothers Private Equity Group and a senior M&A banker at Lehman in New York and London. He was a board member of Worms & Cie, the diversified banking and industrial family group.
Julien is a trustee of Somerset House and chairs the development board of the Voltaire Foundation at Oxford University.
He received his MBA from New York University's Stern School of Business, his BA from Brown University and is an Alumnus of Oxford University.
Tarek has over 25 years of experience in private equity / venture capital and asset management for families and institutions. He is a director of Rezayat Investments and co- founded early stage VC investor Initial Capital.
Tarek was a partner at Stanhope Capital, where he led Merchant Banking and relationships in the Middle East Region. He was formerly a Managing Director at Berggruen Holdings, a family and private equity firm, and a Director at Credit Suisse / DLJ in M&A, corporate finance and private equity in New York and London.
Tarek is a member of the council of the Freeman Spogli Institute for International Studies at Stanford University.
He received his MBA from Harvard Business School and holds an AB Economics from Stanford University.
John spent over two decades leading Advent International, one of the most successful global private equity buyout firms. He was joint Managing Partner, a member of the Global Executive Committee, and Chairman of their European operations. He remained a Special Partner until 2015.
Prior to Advent, John was Managing Director of Granville Europe, where he founded and managed one of the first pan-European private equity funds. He was Chairman of the European Venture Capital Association (EVCA) and chaired their annual symposia for several years. He currently serves as a Director of Pantheon International plc, the longest-established private equity fund-of-funds on the LSE.
John is involved with several organisations within the arts and education sectors, including as a Trustee of the National Gallery in London, a Director of the city of London Sinfonia, and as an Honorary Fellow (and on the Development Committee) of Trinity College, Oxford.
He received his MBA from INSEAD in Paris and holds an MA in Philosophy, Politics and Economics from Oxford University.
Lionel is Chairman and CEO of CDIB Capital International, a leading pan-Asian private equity firm which he co-founded in 2006. He is also CEO of and Chairman of the Investment Committee of CDIB Capital Group, which has invested in and provided services to companies in Asia and beyond across all sectors since it was founded more than 50 years ago.
Lionel sits on the board of publicly-listed China Development Financial Holding, the parent company of CDIB, with approx. US$100 billion in total assets, as well as on the board of a number of the group's c. 260 portfolio companies.
Prior to CDIB Capital, Lionel was a senior banker in the investment banking division of Lehman Brothers, based in New York and London. Prior to Lehman Brothers, Lionel was a member of the global M&A practice of Booz-Allen & Hamilton in Europe.
He received his MBA with Distinction from the University of Pennsylvania's Wharton School of Business and holds a BS in Finance & Entrepreneurship from France's HEC School of Management.
Edward has more than 15 years of experience in investment management. Prior to Eighteen48, he was Investment Director of a large single family office where he was responsible for for asset allocation and investments across all the asset classes.
He was previously a Senior Director in the investment team at Stanhope Capital. He led research into equity-related strategies in both public and private markets, and latterly designed and invested the firm's first private equity funds programme.
Before his time at Stanhope Capital, Edward was an equity analyst at Vantage Group, a global equity hedge fund manager. He began his career in M&A at Lazard & Co in London.
He graduated with a double first in Classics from Oxford University.
Long-term multi-asset portfolios.
Internally-managed global equity portfolio.
Private funds and co-investments.
Private co-investments.
‘Market timing’ generally reduces investment returns over time. ‘Time in the market’ allows wealth to compound over the long term.
Be focused. Over-diversification in typical portfolios stifles the potential to outperform and means that nothing ‘moves the needle’.
High quality, growth businesses have the potential to compound returns above market benchmarks over the long term.
Focus on the fundamental opportunity set rather than predictions of interest rates, fund flows, or other short-term macro or technical factors.
The average active fund manager disappoints, but exceptional managers do exist. Such managers can be very difficult for most investors to access.
Initial Capital is an investor in seed and early-stage technology companies with a focus on games, consumer services and technology enablers. Based out of London and Silicon Valley, Initial is a group of serial entrepreneurs who invest their own money and actively partner with world class teams to build global category winners. Initial currently has some 40 portfolio investments and has achieved more than 10 successful exits to date.
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info@eighteen48.com
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