We are a long-only hedge fund in New York City. Sfumato is one of four modes of painting color available to the Italian Masters of the High Renaissance. It is a method that allows for the elements of a painting to fade gradually into each other in the manner of smoke. It requires consummate mastery over one’s craft. We think of investing in businesses in similar terms. We bring world class talent to bear on our investments and seek to harmonize the diverse skill sets required to understand and allocate capital to the most effective enterprises.