Consumer

Our consumer investment strategy is currently focussed on Education and Specialty Retail. We have a considered, risk adjusted approach to investing in consumer-focused companies, partnering with businesses that are leaders in their market niches with differentiated product and service offerings and high growth potential.

Our specialty retail thematic is underpinned by accelerating growth in affordable luxury. We invest in strong brands with low fashion risk that have the potential to build dominant market positions. Our global perspective positions us early in the flow of trends that are developing across Europe – including our investment into branded coffee outlets in the Nordics. With Espresso House, we started with just a handful of outlets in and around Malmo, Sweden and built it into the region’s premier and now ubiquitous coffee retailer.

Within education, our focus area is vocational training, which benefits from growth dynamics arising from the structural changes to the labour market and changing consumer attitudes to higher education, including a lasting post-pandemic shift to online and hybrid course provision.