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OpeningAll Rounder Group

Investment company

The industry is not the thesis.

Opening All Rounder Group Limited is sector-agnostic. We underwrite a business on its economics, its balance sheet, and the people who run it — not because it belongs to an industry currently in fashion.

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Mandate
Sector-agnostic. Public and private. No house industry.
Standard
Economics, balance sheet, governance, and a way out.
Horizon
Years of ownership. Not a trade on a news cycle.
Firm
Opening All Rounder Group Limited. United Kingdom.

How we hold the mandate

Four things we will not trade away.

  1. 01

    The sector is not the thesis

    We do not keep a favoured industry. A situation is judged on its own economics, not on whether it flatters the last memo we wrote.

  2. 02

    Downside is underwritten first

    We want to know how the business behaves in a dull year before we spend time on the good one.

  3. 03

    Alignment is a term, not a slogan

    Capital, governance, and the people operating the business have to be pointed the same way. If they are not, we pass.

  4. 04

    Ownership outlasts the announcement

    If we invest, we stay. Stewardship is part of the work, not a paragraph written after the close.

A note from the firm

The sector is a setting. It is not an argument.

Where the mandate runs

Open across industries.

The same standard, applied wherever the business sits. Open a sector to see the questions we actually ask.

01IndustrialsMaking, moving, and maintaining the physical economy.02HealthcareCare, tools, and the businesses that sit around them.03TechnologySoftware and systems, when the economics are real.04ConsumerBrands, retail, and the habits behind them.05FinancialsBalance-sheet businesses, read as balance sheets.06Energy and resourcesCommodities, conversion, and the infrastructure around them.07InfrastructureAssets people use, with contracts we can read.08Real assetsProperty and other hard assets, underwritten as cash.

From first reading to ownership

The work, in order.

The full approach

  1. 01

    Origination

    Introduced or found. We do not need a process letter to start reading, and we do not confuse a crowded auction with a good business.

  2. 02

    Underwriting

    One standard, whichever sector the business sits in. We write down what would make us wrong, and we do it before we fall in love with the story.

  3. 03

    Structure

    Price, governance, and a credible way out are settled before capital moves. Hope is not a term in the documents.

  4. 04

    Stewardship

    We stay close enough to be useful and far enough to let managers manage. A shareholder who vanishes was never really one.

Write as you would to a partner.

A paragraph is enough: who you are, and what you would like read carefully. We do not run a public offer from this site.

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