Investment Approach

A long-term investment approach

We have a longer-term investment outlook than many other financial investors. We look to deploy capital into platforms that can be positioned for strong growth over 10 years and beyond. As a result, we favour investments which have proven organic unit model roll-out and/or which can be platforms for industry consolidation.

We seek to invest up to $1bn of equity per platform. Our capital has a global mandate and can be invested in minority or control investments.

L1 Retail seeks investments where we can play an active role. A key focus for any investment is to best position the business to react to and take advantage of sector disruption driven by technology and digital innovation. We work in close partnership with management teams and place a strong emphasis on recruiting, developing and retaining top-tier talent.

LetterOne Investment Approach Diagram

As a long-term investor, we are attracted to business models that are exposed to structural sector themes. We look to partner with sector leaders that operate in broad addressable markets and have strong customer value propositions. We believe customer focus and convenience provide long-term growth opportunities. As a result, we are attracted to the convergence of physical and digital retail, as well as the convergence of products and services.

LetterOne Investment Criteria Diagram