is our advantage
Unlike private investment firms bound by the time constraints of limited partnership models, White Mountains builds long-term investments in businesses, allowing our management teams to step off the quarterly earnings treadmill.
We have no “sell-by” dates or pre-determined exit strategies; instead we focus on empowering growth by giving owners and management teams the tools, capital, and freedom to run their businesses successfully. We are unlimited partners.
Our approach to investing is grounded in the core tenets of our late founder and animating spirit John J. “Jack” Byrne Jr. We “think like owners”, not short-term financial engineers. Our overriding goal is superior growth in White Mountains’s intrinsic value per share over the long haul. Our roots in the insurance and financial services industry bolster institutional experience that is both broad and deep, and we are often most excited about the complex deals from which others shy away.
Equity investments from
$50 million to "unlimited"
We have the flexibility to invest larger or smaller amounts dependent upon the transaction opportunity. For larger opportunities, we can marshal capital from a variety of trusted capital partners as necessary. We are generally not early stage investors, but are open to sponsoring investments in large scale startups or investment funds with experienced teams.
White Mountains typically invests to attain majority control or a meaningful minority position, with appropriate governance rights that include board representation reflective of our ownership stake. We will utilize moderate leverage when appropriate while maintaining focus on business growth, not financial engineering.
Our target sectors include:
- Insurance and insurance-related balance sheet and/or cash flow businesses
- Financial Services / Asset Management
- Adjacent or related businesses, including consumer, media, and technology companies that have an insurance or financial services-related component
White Mountains invests in a broad range of transaction types and structures with a tolerance for complexity.
- Change of control, recapitalizations, corporate divestitures and/or management buyouts
- Club deals and / or partnerships with other strategic or financial investors
- Growth equity financing / start-ups built around strong, autonomous managers
- Distressed assets / special situations
- Sponsored investments in startup investment funds