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  • BDT Byron Trott

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    KK
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    BDT Capital Partners is a private investment firm founded in 2009 by Byron Trott that manages long-term capital for high net worth investors. Trott discussed his firm's strategy of taking minority stakes and investing for 8-14 years to achieve 15-25% annual returns. He sees risks in both public and private markets given current valuations. While the US economy remains the strongest, growth is slow. Trott indicated BDT is looking at investments in energy, mining and consolidating the global coffee industry. Trott also commented on the US presidential election, saying other countries are concerned about a Trump presidency. He acknowledged his own firm can improve on diversity but aims to have a more diverse leadership team in the future.

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    BDT Capital Partners is a private investment firm founded in 2009 by Byron Trott that manages long-term capital for high net worth investors. Trott discussed his firm's strategy of taking minority stakes and investing for 8-14 years to achieve 15-25% annual returns. He sees risks in both public and private markets given current valuations. While the US economy remains the strongest, growth is slow. Trott indicated BDT is looking at investments in energy, mining and consolidating the global coffee industry. Trott also commented on the US presidential election, saying other countries are concerned about a Trump presidency. He acknowledged his own firm can improve on diversity but aims to have a more diverse leadership team in the future.

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    Descărcați ca PDF, TXT sau citiți online pe Scribd
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    98 vizualizări2 pagini

    BDT Byron Trott

    Încărcat de

    KK
    BDT Capital Partners is a private investment firm founded in 2009 by Byron Trott that manages long-term capital for high net worth investors. Trott discussed his firm's strategy of taking minority stakes and investing for 8-14 years to achieve 15-25% annual returns. He sees risks in both public and private markets given current valuations. While the US economy remains the strongest, growth is slow. Trott indicated BDT is looking at investments in energy, mining and consolidating the global coffee industry. Trott also commented on the US presidential election, saying other countries are concerned about a Trump presidency. He acknowledged his own firm can improve on diversity but aims to have a more diverse leadership team in the future.

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    Descărcați ca PDF, TXT sau citiți online pe Scribd
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    din 2

    5/26/2016

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    PrintStory

    PrintedfromChicagoBusiness.com

    BDT'sTrottontheeconomy,diversity,deals
    ByLynneMarekFebruary22,2016
    BDTCapitalPartnersFounderByronTrottrunsoneofthefastestexpandingassetmanagementfirmsin
    Chicago,havingstartedhishybridinvestmentadvisoryfirmin2009andalreadyin2014havingraiseda$6
    billionfund,oneofthecity'sbiggest(inadditiontoapriorfirstfund,thefirmhasraised$9billion).
    TrottisalsooneofthemostelusiveassetmanagersinChicago,despitehisabilitytodrawinsomeofthecity's
    wealthiestbusinesspeopleasinvestors.
    BelowaresomehighlightsfromarareappearanceattheBeeckenPetty&O'KeefePrivateEquityconference,
    heldinconjunctionwiththeUniversityofChicagoBoothSchoolofBusiness,onFeb.19.Theremarkscome
    fromaQ&AwithTrottandUofCprofessorStevenKaplan.
    Onhisfirm'sstrategy:
    Ourcapitalismuchlongerterm.Wehavetoinvestforeightto12to14years....Ifsomebodywantsfiveyear
    money,wesayno.Wesay,'Thereareahundredotherpeopleintheworldthatcangiveyouthatmoney.Good
    luck.'
    "We'recompoundingformultiplesofmoney.We'relookingforopportunitieswherewecanprovideabout20
    percentor25percentcompoundedreturnsacrosstheportfoliowewant15percentonaveragecompounded
    returns.Butifyoudothatovereightto10to12years,you'vegotthreeorfourtimesyourmoney.
    Wemarchdownadifferentpathwherethreequartersofwhatwedoisminority(stake)investing.
    Fromaninvestorsperspective,we'vehadadifferentinvestorbase.Ourinvestorsowntheirownbusinesses,
    sothat'swhyourcapitalhasnostressinit.They'veallownedtheirbusinessesfor10,20,30,40years,and
    thereforethey'reallverycomfortablewithusdeployingcapitalontheirbehalf.
    Theonlythingthatmakesmecrazyisthatweactuallyhavetosellgoodbusinessessomeday.
    Ontheeconomy:
    TheU.S.isthestellareconomyoftheworld.It'sthemosttrustedcurrencyoftheworld.Butit'sonlygrowingat
    2percentandprobablywon'tgrowat2percentforthenextcoupleyears.
    There'snostimulusleftifthegrowthdoesn'tarrive.
    Idefinitelybelievethegeneralpublicequitymarketsarenobetterthan50/50upordown,butIdothinkthereis
    moreriskofamassivedownthanamassiveup.
    Iseewaymorenegativethanpositive,butI'mstilldeployingcapital.We'vedeployed$3billioninthelastnine
    months....Themarketisovervaluedinanycontext,privateorpublic,andprobablyprivatelagspublic,both
    goodandbad.
    OnthetypesofacquisitionsBDTisseeking:
    Wepickgoodownerswithstrongmanagementteamsinbusinessesthatwethinkareverydurable....We
    don'tdotechnologybecauseitdisintermediatestoofast.
    Wearelookingatenergyandminingandsomeotherthingsrightnow.
    We'reconsolidatingtheglobalcoffeemarketrightnow....It'saddictive,it'slegal,it'shealthy.Andit'sjustlike
    thebeerindustrywas30yearsago.Thereareabout400brandsaroundtheworld,ownedbyallvarioustypes
    ofpeople.
    Onthepresidentialelection:
    http://www.chicagobusiness.com/article/20160222/NEWS01/160229982?template=printart

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    5/26/2016

    PrintStory

    Indiscussingelectioncandidates,Therearenostars....It'salmostshameful.
    I'vebeeninEuropealmostasmuchasI'vebeenintheUnitedStatesinthepastthreemonths....Everybody
    intheworld,thefirstthingtheywanttotalkaboutisthiselection,including,'PleasetellmethatDonaldTrumpis
    notgoingtobethepresidentoftheUnitedStates'....EverybodyactuallyquietlydoesliketheUnitedStates
    beingtheglobalcop,andhewouldn'tmakeaverygoodone.
    Ondiversityinhisfinancialsphere:
    EvenatGoldmanSachs,Ihadareputationofhavingthemostdiversegroupintheworld,withwomen,
    minorities,everythingelse,butIdidn'tneedtofocusonitmuch.Wepickthebestathletes.
    "Whenyoulookatthefirstpageofournewbrochure,thefirsteightfacesarewhitemale,andyoulookatour
    backgroundsandyouseethatit'sfantasticbackgrounds,butthatshouldn'tbe.Sonow,thegoodnews,five
    yearsfromnowitwilllookwaydifferent.
    Asgoodasweare,IgiveourselvesaBoraB"onbeingdiverseatBDT.

    http://www.chicagobusiness.com/article/20160222/NEWS01/160229982?template=printart

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