Overview
Recurve Capital manages a private partnership and invests in a concentrated portfolio of industry-leading, high-quality businesses that have and continue to build durable competitive advantages. Our value-based, research-intensive investment process has been developed and refined over 20 years of investing in public markets.
Investment Approach
Recurve’s strategy is to find a select group of competitively advantaged companies (what refer to as “Builders”) and own them over a long-term horizon in a concentrated portfolio. Our stock-picking process is built on a foundation of curiosity- and insight-driven idea generation, complemented by a rigorous and exhaustive fundamental due diligence process. We follow three main principles:
(1) The core driver of long-term returns are growth in earnings per share and free cash flow per share.
(2) We seek industry-leading companies that are building significant and durable competitive advantages through their differentiated value proposition to customers and through their scale. We refer to them as “Builders.”
(3) We concentrate our investments in a select group of businesses that meet our quality and valuation standards and we hold them on a long-term horizon.
We use these principles to build a portfolio that will generate significant earnings and free cash flow per share growth over the medium- to long-term.
About the Name
Before the firearm era, the recurve bow was one of the most formidable and dominant military technologies, dominating the battlefield for hundreds of years across Europe and Asia and made famous by Mongol horse archers. The recurve shape and geometry of the bow allowed for a more compact form factor while also enabling tremendous draw weight, on average more than double that of the more famous English longbow. With proper training, Mongol horse archers could hit targets up to 450 meters while on the move, while English longbows could reach up to 275 meters from a stationary position.
Recurve Capital operates with the same principles - nimble, efficient, and long-range. We use these strengths to remain opportunistic in all environments and produce superior long-term returns.