When a strategic framework is in
place, the ability to make very well-judged decisions with speed
-and then to act decisively - is critical to the success of an
investment business. It differentiates the Internos approach. It
could only really be convincing in an owner-managed
business.
Benefits of a fast, informed decision process apply to
both 'go' and 'no go' outcomes. "If an opportunity
presented is a bad strategic fit, or just a bad deal, it is best to
tell the contact at once, with reasons. This is rarely resented and
may lead to a flow of more appropriate offers" (Andrew Thornton).
But, more importantly, quick decisions to commit, especially in
'distress' scenarios, can result in spectacular deals. The
Investment Committee understands this and has the experience and
commitment to make it work.
Evidence
Rigour and speed in decision are evidenced by recent key
Internos successes:
- Being chosen from 30 original candidates by the owner
(Australian real estate giant GPT) to acquire fund manager GPT
Halverton - stemming from a perception of fast, efficient due
diligence and grasp of issues by the Internos team. An award backed
by key investors. Dec 2009. more
- The award, achieved in competition, of fund, asset management
and/or strategic counselling over €168m of European retail assets
for Merchant Place Property Partnership. Dec 2010, announced 2011.
more
- The establishment of the Internos Hotel Division to be led by
arguably Europe's most experienced specialist fund manager. Planned
and executed over two months in 2010, launched Jan 2011. more
- Winning the mandate to manage €500 million of Invista's
European assets, announced June 2011 in competition with major
European fund and banking businesses.