Investment mandate
The terms Asterion invests on, in one place. It is a summary, not an offer of securities or investment advice.
Summary
- Capital
- Held by the firm. No outside investors, fundraising cycle, investment period or redemptions.
- Term
- None fixed. No exit target, planned sale date or promised holding period.
- Main holdings
- Direct minority stakes in established private companies
- Control
- Stays with the owners, who keep running the company
- Rights requested
- Information rights, and a board or observer seat by agreement, set out in the term sheet
- Other holdings
- Early-stage ventures (small), co-investments, liquid reserves
- Position size
- Each direct position a limited share of the firm’s capital
- Decisions
- Made by the firm’s principals.
- Co-investment fees
- Asterion charges no fees or carried interest to anyone who co-invests with it.
- Oversight
- Valuations quarterly, full review annually, independent custody
- Office
- Edmonton, Alberta
Holdings
- Private companies
- Minority stakes held directly, in businesses whose owners intend to stay. Control and day-to-day management stay with them.
- Involvement
- A board or observer seat by agreement, with information rights in the term sheet. Follow-on capital where the business earns it.
- Early-stage ventures
- Seed to early growth, in the same sectors, sized for a high failure rate.
- Co-investments
- Minority stakes in deals led by family offices, operators or sponsors we have backed before, on the lead’s terms. We do our own diligence and stay as long as the lead does.
Capital and sizing
- Position sizing
- Keeping each direct position to a limited share of capital means no holding has to be sold to fund another commitment.
- Liquid reserves
- Held to fund new direct investments and follow-on commitments.
- Selling
- A holding is sold on its merits, if at all, at a time that suits the business.
The first conversation
A short note or a call with a principal about the business, the owners and what the capital is for. It is confidential and carries no obligation. You will hear an early view on fit, concerns included. Review and terms follow over about eight weeks, as set out in How a deal works.
Private and early-stage holdings are illiquid and can lose their whole value.
To begin, use the enquiry form or write to enquiries@asterionsa.com.