UIG, founded by Samit Umatiya, is a concentrated investment partnership focused on long-term capital appreciation. We invest in a limited number of businesses where we believe market price materially diverges from intrinsic value, with position sizing informed by business quality, expected return, and downside risk.
UIG focuses on businesses in transition where operational, capital structure, geographic, management, or industry changes temporarily obscure underlying earning power.
We underwrite these situations from first principles, separating temporary disruption from permanent impairment and assessing whether the balance sheet gives the business sufficient time to realize value.
The opportunity arises when reported results and market perception reflect current conditions more heavily than normalized economics.
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.