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Investment Philosophy

Our philosophy is that every board of directors is responsible for creating a culture of sustained success in business operations and strong comparative performance in generating Total Shareholder Return ("TSR"). When a company's TSR lags peer performance consistently, the board must insist on accountability for correcting this issue. Unfortunately, many boards are not equipped to do so without outside input that an informed and engaged major shareholder can provide. The goal is sustainable gains in comparative value generation, which benefits all interested parties.  

Breeden Capital Management utilizes its rights as shareowners vigorously and actively engage our portfolio companies to identify and implement opportunities to increase performance and shareholder value on a sustainable basis. By persuading company management and boards to adopt healthy, value-enhancing practices, activists can force positive change and create sustainable shareholder value.  

This activist investment strategy looks to identify operational, financial and governance related improvements to achieve a higher level of total shareholder return. That typically involves improving the company's ability to generate earnings on a sustainable basis. It also means delivering growth in cash returned to shareholders. It may be achieved by implementing governance reforms that help enhance the company's earnings multiple by reducing the risk of events that might reduce earnings sharply. In general, we will target operational factors that can enhance earnings and governance or financial factors that can enhance earnings multiples.  

Breeden Capital Management provides a multi-dimensional perspective on the link between effective governance and sustainable performance / valuation of an enterprise, which results in alpha generation for investor portfolios.

 
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