Happy Father’s Day!
“What does it really mean to be a good father? What did your father tell you, that has stayed with you throughout your life? Was there a lesson from him, a story, or a moment that helped to make you who you are? Is there a special memory that makes you smile when you least expect it?”
One of our favorite books is Wisdom of Our Fathers by New York Times bestselling author Tim Russert. Russert’s book serves as a platform for daughters and sons to share influential stories, rewarding lessons and lasting values learned from their fathers.
Listen to an interview with Tim Russert
25 Father’s Day Stats and Quirky Facts
Search Funds Overview
The search fund is an attractive private equity model built for those who understand the advantages of illiquidity and the value of acquiring maturing businesses. This process is determined by the existence of capable aspiring entrepreneurs who want to run a business but don’t necessarily have the desire to start a new business. Therefore, they choose to do so through acquisition.
Search funds have been around since the ’80s, and have exploded in popularity in recent years due to the availability of capital looking for rewarding opportunities, the potential outsized-returns, personal structure, and the opportunities afforded to the searchers.
Read our research paper on Search Funds to learn more.
Search Fund Resources
Search Fund Primer
This paper is an in-depth introduction to the search fund model including its history, returns, and set up. From one of the leading universities in the Search Fund space, Stanford, this paper is a solid starting point and authority for those interested in the Model. It is required reading for anyone looking to enter as a searcher or investor.
Stanford Business: Search Fund Primer
2020 Search Fund Study
A current state of affairs in the Search Fund industry. This paper provides insights into this rapidly changing environment and is particularly important in the context of COVID and the rapid inflation of asset prices. This provides a backdrop of tremendous upside combined with pricing risk and macroeconomic factors that could prove difficult moving forward. This is all discussed in this paper.
Stanford Business: Search Fund Study Selected Observation
Evolution of a Search Fund
This document illustrates the progression of a Search Fund from the formation to a 10x return. It authors take care to highlight the aspects of a manager, business, and structure that leads to optimal returns. These authors, a trio of successful searchers and investors, shed tremendous light on how to achieve returns in the model.
The Evolution of a Search Fund CEO and Company
Entrepreneurship Through Acquisition Podcast
From the Polsky Institute at the University of Chicago this Podcast provides hours of content on every topic having to do with Search Funds. This school is one of the leading authorities on the model and has podcasts on everything from the legal structure to the searcher experience and the best investor firms. If you want to understand the model and listen to Podcasts or audiobooks this is a great source.
Entrepreneurship Through Acquisition Podcast
Open Market Insider Buys This Week
Tickers with a * next to them have been mentioned by investors we follow.
ONLY FOR PREMIUM MEMBERS: We have added two filters into our company search alerts. These will provide us with information whenever a company has “share buybacks” or “stock is undervalued” in their new filings or transcripts. If you are a premium member and would like us to add in a new alert, please email Sam DiFiore at sam@avenelfinancial.com.
Podcasts and Readings
Yet Another Value Podcast: James Elbaor is investing in Dan Loeb at a Discount $TPOU
How I Built This with Guy Raz: Expedia & Zillow: Rich Barton
To Succeed at Investing, Think of Dennis Rodman - by Jared Dillian
If you have not already upgraded your membership…
Avenel Financial Group, a merchant banking, and advisory firm located in Charlotte, NC launched a new business venture called the Co/Investor Club. The Co/Investor Club is a community of value-oriented investors that collaborate on investment opportunities and ideas. You are receiving this newsletter because you are a Free or Premium Member of the Co/Investor Club!
Chat with Mike
Whether you’re an executive with investment opportunities or a college student looking to network, we would love to chat with you!
Email our Founder, Mike Pruitt at mp@coinvestorclub.com with questions and ideas or schedule a meeting.
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Twitter: @coinvestorclub1
LinkedIn: Co/Investor Club
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