We invest our own capital. No fund life, no investment committee to convince, no quarter to protect, and no pressure to sell into a window that suits someone else’s timeline. Decisions get made by the people whose capital is at risk, which lets us move quickly when we see something and hold indefinitely when we’re right. Most of what we’ve backed came through relationships built over decades. We’re not sourcing from a pipeline. We’re backing operators who can deliver a plan.