How we select, structure and monitor managers
Our framework, published in full. If you are considering approaching us, these articles will tell you within an hour whether the fit is there.
14 articles
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Mandate
Why Leanta Capital allocates to external managers
We do not believe any single desk holds an edge in every market at once. Our answer is to buy talent where it already exists.
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Process
Our manager selection framework
Four questions decide almost every allocation we make. Everything else in the process exists to answer them honestly.
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Process
Operational due diligence: what we check before we allocate
Most permanent capital losses in the allocation business are operational, not investment-related. We review accordingly.
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Terms
Ticket sizes, lock-ups and the terms we can work with
A practical guide to how we size allocations, what liquidity we need, and where we have flexibility.
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Mandate
Seeding and emerging managers
The evidence that smaller funds outperform is real but frequently misread. Here is how we approach early-stage allocations.
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Partners
Family offices: how we work together
Family capital and institutional capital want different things. We structure the relationship around which one you are.
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Portfolio
Risk budgeting across a multi-manager portfolio
Allocating capital and allocating risk are different exercises. Only one of them determines the outcome.
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Terms
Fee structures and what genuine alignment looks like
The headline rate matters far less than the mechanics underneath it. We negotiate the mechanics.
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Structure
Managed accounts versus fund investment
Transparency and control have a price. Here is how we decide when it is worth paying.
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Portfolio
Diversification beyond the correlation matrix
Low historical correlation is the weakest possible evidence of diversification. We look for different causes, not different numbers.
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Mandate
Specialist and niche strategies we are actively seeking
Capacity constraint is a feature. We are interested in strategies that cannot absorb unlimited capital.
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Process
The allocation process, step by step
From first contact to funding, what happens, in what order, and roughly how long each stage takes.
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Process
Reporting and transparency: what we ask for and what we provide
Transparency is not a volume of data. It is the ability to answer a specific question before it becomes urgent.
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Structure
Working with UK and offshore fund structures
A practical overview of the vehicles we encounter, and the questions we ask about each.