Wealth is achieved through a singular focus on excellence, perseverance, and a devotion to your profession. We share these traits from delivering results over decades, hard-earned experience managing risk through through boom and bust, and a singular focus dedicated to perfecting the craft of investing. We serve as your trusted and exclusive advisor.
Our singular focus is ensuring your enduring wealth.
Our goal is to help you manage the risk, and the rewards, inherent in the financial markets. Your investment portfolio is crafted to meet your unique objectives while managing the portfolio for all the possible outcomes.
We manage to capitalize on risk.
Using innovative methods in portfolio design, asset allocation, and environment forecasting, methods applied at multi-billion portfolios for ult-high-net-worth people and global institutional investors, Halcyon Management delivers results within a well articulated risk profile. We are guided by two decades of success managing global multi-asset portfolios and extensive professional insights across all investment paradigms.
We focus on the path that achieves your unique legacy.
WHAT WE BELIEVE
Core Beliefs
Halcyon Management’s goal is to support the endeavors of your family through the preservation of current capital in real terms while enabling growth over the long run. Achievement of this goal requires an investment framework to allocate current capital in the presence of uncertainty to generate future cash flows.
Halcyon Management believes that there are three ways to generate sustainable tax-efficient after-inflation returns in a risk controlled manner within our constraints.
I. Invest in people and partners with deeply specialized knowledge
Knowledge and experience are hard earned. No one can be everywhere, no one can know everything or everyone. The dual realities of time and capital efficiency preclude the prior outcomes. We prefer knowledge and experience because most investors do not have the time or the resources to do the work required. We do our own work and we insist that our partners do so as well. Whether it is investing in the potential of venture capital, relegated real estate, or the enhancement of operational efficiency with private capital, these outcomes requires people with deeply specialized knowledge to envision the overlooked value. We invest in talented people to enhance our knowledge, business, and investment returns.
II. Own businesses that enhance capital productivity
Do more with less. This is the story of capital efficiency. Over the last 200 years, humanity has unleashed its potential and seen quantum leaps in global living standards. This outcome is in part due to the ability of business to meet increasing demand with fewer resources. The incentives in a competitive market allow the best ideas and the most efficient operators to thrive. We own businesses with sustainable products or services, who allocate capital efficiently, and occupy a competitive position that permits further growth. Since change takes time, our capital is patient. We wait to buy when value is overlooked and we wait to sell until they are priced to perfection.
III. Allocate capital when market uncertainty is greatest
Risk is opportunity. When the value of assets is at their most uncertain, we venture forward. Capital markets are the most efficient means to allocate capital; however, this does not imply they are perfect. They are at times euphoric and at other times despondent. We are neither. We believe in people and their willingness to grow. We know in the long run the trajectory is up, even if our strategic intent may temporarily drift off course. We will forgo the fashion of the moment, sometimes at significant short-term opportunity cost. We will, when the sale begins, buy enduring ideas of compelling value. Investing is, in the final analysis, the ability to make decisions in the face of uncertainty, so we invest by managing risk. While there is no certainty to the future, the consistent application of a coherent investment philosophy will ensure that we have the discipline and the ability to act when opportunity arrives.