What We Do
Learn about our investment philosophy and approach to value creation
Seek to Compound Shareholders' Capital at High Rates of Return
We collect businesses which possess a competitive advantage, at attractive prices. Our structure clears away short-term pressures and nurtures rational long-term capital allocation.
What We Look For
We are always on the lookout for wonderful businesses that fit our criteria, developed over 25 years by the investment manager
High Returns
A demonstrable track record of high and enduring returns on capital - 15%+ unlevered after tax over a full economic cycle
Economic Moat
An 'economic moat' surrounding the business to protect returns on capital and ensure they stay high
Attractive Pricing
Able to buy into the business at an attractive price that offers a large margin of safety
Aligned Management
Management and culture who think and act the same way about capital allocation
Our Investment Philosophy
Like a well-functioning family, our permanence allows us to make rational, long-term decisions about supporting exceptional businesses.
Permanent Capital
We invest for the long term, treating portfolio companies as permanent family members rather than temporary investments.
Partnership
We work collaboratively with management teams, providing strategic guidance and operational support.
Patient Capital
Our patient capital allows us to make rational, long-term decisions that drive sustainable growth.
Diversified
Our portfolio spans multiple sectors, from traditional industries to cutting-edge technology.
Our Approach
This is not a traditional Private Equity fund. This is not a traditional institutional fund. We are a decentralised holding company.
Permanent Holdings
We are collectors of businesses, not traders. Our strategy is not to sell or 'realise' investments based on short-term expectations.
Clear Short-Term Pressures
We help businesses focus on the long-term by providing capital and removing pressures that other shareholders weren't prepared to do.
Delegation Just Short of Abdication
We want the best managers in their field, sharing our passion for long-term thinking and rational capital allocation.
“Delegation just short of abdication”
Our ideal situation with our businesses is delegation just short of abdication. We help investments realise their full potential by investing resources, both human and financial.
Why Partner With Us
We think as objectively and rationally as our human condition permits. This can lead us into contrarian actions and unconventional structures.
Performance-Based Fees
No ongoing management fee. Shareholders don't incur fees if we don't outperform the FTSE All Share Total Return
Full Transparency
We treat shareholders as partners. Detailed accounts including both our mistakes and successes treated with humility
Professional Opportunists
Not restricted to public or private markets. We consider every part of the capital structure when investing
Building a Decentralised Conglomerate
We will optimise shareholder value over the long term by building a decentralised conglomerate of permanent holdings. Shareholders should expect holdings from a variety of sectors with no particular bias to size.
Supporting Future First
Castelnau Group Services Limited is proud to partner with Future First, a renowned volunteering hub dedicated to advancing national social mobility.
Partnership with Fulham Cross Academy
We work closely with Fulham Cross Academy to provide students with practical career development opportunities and real-world insights into professional life.
CV Clinics
Helping students craft compelling CVs that showcase their skills and potential to future employers.
Mock Interview Days
Providing students with realistic interview practice to build confidence and professional communication skills.
Internship Opportunities
Offering hands-on work experience that gives students valuable insights into the business and investment world.
Through our partnership with Future First and Fulham Cross Academy, we're investing in the next generation and helping to create pathways to opportunity for young people in our community.