For many investment firms, success is measured by the speed of an exit (sale, merger or IPO). Investors are pressured to generate the highest possible internal rate of return (IRR) so they can use this metric to raise a new fund. This exit-centric focus can often be detrimental to a company’s long-term prospects. A very patient strategy: We're willing to hold on to our portfolio companies well beyond the 5-year investment time horizon typical of private equity firms. We implement conservative capital structures and develop strategic growth plans that lead to sustainable, healthy growth. Our decision to sell is never driven by a need to generate quick profits or a high IRR.