Benchmark Consolidated is a private investment holding company, and is dedicated to compounding capital over time.
Operating Businesses
Investment Company
Founded
Benchmark Consolidated owns meaningful equity stakes in a number of operating businesses.
Benchmark invests in listed equities and select private equity investments through its subsidiary investment company - Spartels Capital Investments.
The group will consider future investments in operating businesses and private equity, however the hurdle is high when there are listed businesses generating high Free Cash Flow returns accompanied with growth, governance and liquidity.
Purchase a business with a strong balance sheet, run by an excellent management team, with the ability to grow earnings meaningfully over the medium term. Ideally, the business will be a leader in its market.
The greatest businesses in the world can be terrible investments. Don't overpay.
The strategy is consistent with the following quotes:
"The big money is not in the buying and the selling, but in the waiting."
- Charlie Munger
"There seems to be some perverse human characteristic that likes to make easy things difficult."
- Warren Buffett
That being said, there are two scenarios where selling may be required:
- The business appears to be extremely overvalued
- The thesis is broken, and the business has lost its advantage over its competitors
We’re always interested in hearing about new investment and partnership opportunities.