About
UIG is a concentrated investment partnership built for long-term compounding rather than activity for its own sake. The focus is on owning a small number of businesses where price materially diverges from intrinsic value and sizing them based on both opportunity quality and downside risk.
We apply a multidisciplinary lens to understand where complexity leads to mispricing, particularly when incentives, behavior, or structure distort perception.
UIG is drawn to businesses where accounting, capital structure, transition, or industry complexity cause the market to misunderstand the underlying economics.
These are often situations where investors are constrained, impatient, or unwilling to do the work required to bridge the gap between headline noise and intrinsic value.
The portfolio is intentionally concentrated, typically around 10 to 12 positions, so capital can be directed only toward the highest-conviction ideas.
Results are evaluated over full cycles, not short stretches of market performance. The structure of the partnership reflects this.
Each position begins with the business itself: its cash generation, balance sheet, and reinvestment profile. Market context follows, not precedes, that work.
Businesses that can endure a downturn are prioritized over those that may look attractive only in favorable conditions.
The intent is to build a base of long-term partners who judge results over full market cycles and understand the nature of concentrated investing.