Smart investing, compounding returns.
We are a private investment office investing in all asset classes, worldwide.
What we do
We invest as Limited Partners (LPs)
and engage in direct investments
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We manage a proprietary trading desk and partner with a few selected fund managers. We have a bias towards independent and owner-operated managers that align their fees and internal incentive structures with the interests of their investors. We are long-term LPs for example at Edgewood, Portolan and Harris Associates.
Our proprietary trading engages in active portfolio management across all asset classes. We apply a research-intensive analysis to select compelling investment ideas in pursuit of attractive risk-adjusted returns.
The cornerstone of our portfolio is a long-term equity portfolio divided into value and growth stocks. But we also combine macro strategy with long & short ideas, a diversified credit portfolio for an income flow, derivatives strategies and commodities.
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Our real estate strategy consists of investing as a Limited Partner (LP) in top-tier fund managers, such as Blackstone; and engaging in direct investments.
Direct real estate investments are divided in core, value-add and opportunistic. Core assets are high-quality premium properties, usually fully leased with stable long-term income. Value-add are assets where we see potential to enhance value by repositioning or leasing up vacant space. And our opportunistic strategies consist of development projects and distressed deals.
Our portfolio includes premium properties, multi-family, commercial offices, land, industrial and retail.
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Our private equity strategy consists of investing as a Limited Partner (LP) in top-tier fund managers, such as Silver Lake, Carlyle and Neuberger Berman; and also engaging in direct investments, where we take active ownership stakes in companies to leverage our expertise and drive value creation.
Direct investments can be minority stakes in industry leaders or lower-middle market buyouts. We have a bias toward smaller companies that have not yet implemented robust business processes, as these often present significant opportunities for enhancing management quality.
Our portfolio includes businesses in healthcare services, hospitality and entertainment, waste management, media, and beverages.
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Our venture capital strategy consists of investing as a Limited Partner (LP) in top-tier fund managers, such as Coatue and Founders Fund; and also engaging in direct investments. We also have a corporate venture capital fund, Kortex Ventures.
Through our direct VC investments, we back visionary founders with big ideas to build the future through technology.
Direct VC investments are divided in two strategies – early stage (Series A and B) and late stage (pre-IPO rounds). In early stage we have invested in healthcare, life sciences, fintech, mobility and transportation and enterprise SaaS. Our late stage investments include SpaceX, Anthropic, Impossible Foods, Byju’s, Databricks, Coursera, 23andme and AirBnB.
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We partner with sponsors for co-investments in real estate, private equity and venture capital deals. These are typically equity minority investments into private companies alongside a sponsor.
This approach offers the benefits of lower fees than typical fund commitments; an accelerated ramp-up to private markets; mitigation of the j-curve; and the potential for deal selection alpha. We invest alongside our highest conviction investment managers in what we believe will be their most successful strategies, sectors, geographies and business models. Our team deploys a rigorous, highly selective analytical framework to invest in what we believe will be the highest quality opportunities.
We partnered for example with SPX Capital for a co-investment deal and acquired a stake at Quinta do Lago, a premium gated community and golf resort in the Algarve region of southern Portugal.
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Our absolute return strategy consists of investing as a Limited Partner (LP) in top-tier fund managers, such as Obsidian, Golub and MSD; and also engaging in proprietary trading.
Absolute return strategies seek to generate returns independent of traditional market beta exposures. We aim to generate alpha by capitalizing on market inefficiencies and opportunities on structural risk premia. We use quantitative analysis seeking market-neutral exposures, macro-driven positions, derivatives structures and event-driven trading.
Our approach
As LPs, our approach is rooted in the Endowment Model, inspired by the late David Swensen who created the Yale Model. This is best visualized as a ‘twin-engine plane’ with two distinct performance drivers in our portfolio. Engine 1 is the ‘Beta’ engine that delivers the base return of the portfolio, while Engine 2 is the ‘Alpha’ engine that delivers the turbocharge or outperformance. We view risk as aggregated market exposure rather than volatility, therefore we avoid diversifying solely based on asset class and instead focus on the underlying market exposures (or ‘betas’) to ensure proper diversification. Alpha is driven by appropriate manager selection. Manager selection is based on our perception of managers’ ability to outperform low-cost passive instruments carrying equivalent risk exposure on a look-through basis.
As active investors, we focus on intensive quantitative and qualitative research to find compelling risk-adjusted ideas to build a concentrated portfolio with a few strong conviction ideas adopting a long-term, patient approach. We understand that the power of compounding takes time.
Portfolio companies
Through our direct investments, we support exceptional management teams in building great companies.
Trusted Partners
We partner with high-performing sponsors and fund managers for the long-term.
About us
About Reserva Investments Ltd
Reserva Investments Ltd is a private multi-family investment office based in New York. Originating from a legacy in healthcare services, we have diversified our investments into a portfolio that includes real estate, public securities, credit, private equity and venture capital. We invest as Limited Partners (LPs) in top-tier fund managers and engage in direct active investments.
We take a long-horizon philosophy to engage in a broad range of investment activities with the flexibility to invest across asset classes and geographies. Through disciplined research and due diligence, we seek for opportunities with attractive risk-return, outsized growth potential or steady generation of income. Our asset allocation objective is to maximize the risk-adjusted long-term compound annual growth rate (CAGR) of our holdings.