Boldhaven Management LLP

Overview

Boldhaven Management LLP is an alternative investment management firm founded in 2017 and based in London. The firm specializes in a concentrated strategy that focuses on long and short opportunities in European markets. Their approach is characterized by deep fundamental research, a long-term investment horizon, and a focus on intrinsic value. The firm's investment philosophy emphasizes consistency through simplicity, adopting a long-term approach that seeks to understand the quality and durability of cash flow generation to gauge earnings power and intrinsic value. They maintain a contrarian mindset, favoring investments where their views on the long-term trajectory, sustainability, and quality of cash-based earnings differ significantly from consensus expectations. Boldhaven is market-cap agnostic but consistently deploys significant capital in the small- and mid-cap universe, where less industry coverage can lead to large dislocations and present attractive entry opportunities for long-term investors. Their dedicated short process is designed as a standalone portfolio of ideas where they believe significant misunderstandings exist around the quality, sustainability, and trajectory of a company's operating metrics. As of November 6, 2023, Boldhaven Management LLP held a stake of 4,870,825 shares, representing 3.15% of Agfa-Gevaert's outstanding share capital. This stake was held via equity swap on behalf of three funds: Boldhaven Master Fund, Blackwell Partners LLC – Series E, and Star V Partners LLC. The firm is regulated by the United Kingdom Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

Investment Focus

• Focus on European companies
• Preference for small- and mid-cap opportunities
• Long-term investment horizon
• Contrarian investment approach
• Dedicated short portfolio

Portfolio Companies