We are focused on making a limited number of large-scale private equity-related investments in high quality, growing businesses in the developed markets. Over our investing history, we have invested in over 100 companies. We are currently investing our tenth fund, with $24.4 billion of committed capital, and we have $120 billion in assets under management as of December 31, 2023.1
1. Assets under management include assets attributable to H&F advisory clients and co-investment vehicles and reflects the unrealized value of investments and remaining commitments that are reduced by fund-level borrowings. Excludes other assets such as cash, cash equivalents, prepaid taxes, receivables and other assets.
We specifically target already outstanding businesses where we believe deep sector expertise and bespoke value creation plans can make a significant difference to the trajectory of the company. And because our deal team is the oversight team, we’re working on a value creation plan together from the start of the relationship.
Superior consumer and retail franchises are a natural fit for H&F’s investment philosophy. We look to partner with great management teams in companies with differentiated business models and strong growth prospects. Our related experience in the Internet & media sector provides us unique insights in an evolving retail and consumer landscape.
H&F invests in the energy & industrials sectors on a very selective basis, looking for individual opportunities that fit H&F’s investment philosophy. We generally look to avoid businesses with significant macroeconomic and/or commodity exposure. Instead, we seek to make our returns through strong fundamental business performance, partnering with leading franchises with strong growth prospects in relatively stable markets.
H&F has invested in financial services for over 28 years, investing in asset management businesses since its inception. Since then, H&F has expanded that focus to include insurance and insurance services, financial technology, as well as other sub sectors of the industry, such as financial advisors and distribution, payments and securities services. We have created value as an investor across a wide range of business models in the sector.
H&F was an early private equity investor in large cap software, with its first investment in the late 1990s, and has become a market leader with extensive experience in the sector and a proven capacity to generate value. We have deep experience helping companies navigate rapidly changing market dynamics and believe in investing heavily in the growth of our businesses.
For almost 20 years, H&F has been an active investor in various segments of business services, with a particular emphasis on marketing services, information services, and people led businesses. We look for businesses positioned for substantial growth that deliver differentiated value propositions to their clients, and we are flexible about investment structuring to best align with management teams and stakeholders.
H&F spent several years studying the healthcare industry to find interesting sub sectors where H&F could leverage its existing significant expertise in software, data driven, and people based businesses. H&F made its first healthcare investment in 1997. We partner with differentiated businesses that create compelling value propositions for patients, providers and payers. Our deep experience in related sectors of technology, insurance and financial services add unique insights into the complex and changing healthcare ecosystem.
H&F began investing in the insurance and insurance services industry more than two decades ago. We have developed deep experience investing across all aspects of the insurance ecosystem: risk-bearing insurers and reinsurers, insurance technology and software, services, and distribution.
H&F is a tightly knit group working together with management teams toward common goals. We have more than 70 investment professionals, including 24 partners with an average tenure at H&F of more than a decade. This allows us to devote substantial time to the companies in which we invest.
Our objective is to work with portfolio company leadership and create a backdrop in which companies can thrive. We encourage management teams to invest alongside us, and our forward-thinking approach and philosophy to leave companies better than when we found them also means that portfolio company employees often choose to invest alongside H&F as well.
We believe that people thrive when they are working toward a common and focused goal. We are proud of our transparency and alignment of interest with our portfolio companies and investors. We believe our focus and significant skin in the game allows us to build true, successful partnerships.