Capita Funds Asset Management

The first “Capita” fund launched in early 2008 and since then has evolved into five alternative strategies with approximately $800M in mark-to-market AUM. We seek to deliver superior real returns with lower volatility via investments with favorable underlying supply/demand situations and a margin of safety in the form of discounted asset prices or the ability to acquire cash flow inexpensively. Capita Funds is an active manager of capital and has a strong value orientation and philosophical aversion to the use of financial leverage as a return driver. Our team has successfully invested in and exited from multiple investments and we continue to grow. We seek absolute return strategies with substantial elements of run rate cash distributions combined with equity optionality. Our value perspective focuses us on discounted asset classes with identifiable macro and micro drivers for repricing. Capita Funds seeks to construct strategies with reduced correlation to traditional asset classes and in particular where that cross correlation characteristic is maintained over the long term and during periods of public market distress. We believe that proper portfolio construction with selected real asset strategies can enhance both absolute and risk adjusted investment returns. Capita focuses on risk equally to returns. Our approach is to identify strategies and combine them with proven deal flow and superior risk and transaction management. We require a clear set of drivers for value recognition and a consistent, objective, data driven investment decision making process. We prefer to avoid strategies where the primary return driver is leverage or where out-performance requires simply a willingness to be more levered than competitors.