Ampersand Capital Group, L.P.

Ampersand Capital Group is an investment adviser that provides discretionary management to private pooled investment funds, operating through onshore and offshore feeder fund structures and serving institutional and other qualified investors such as sovereign wealth funds, endowments and pension plans. Investors in the funds do not select individual investments and subscriptions and withdrawals are subject to the funds’ offering documents and liquidity restrictions.

The firm pursues a concentrated, long-duration, equity-oriented strategy seeking capital appreciation with an emphasis on capital preservation, investing principally in U.S. and non-U.S. publicly traded equities and equity-related instruments. Ampersand also may use short selling, options and other derivatives, selectively invest in private-company positions and employ side-pocketing, and it makes portfolio decisions on a discretionary basis.

Distinctive features include its recent formation in 2023 and relatively small organizational scale combined with a thematic focus on technology-driven change—taking long positions in perceived beneficiaries of innovation and shorting incumbents—which can lead to significant sector and single-stock concentration. The firm structures client relationships through pooled funds with limited liquidity, works with prime brokers and soft-dollar arrangements, and discloses potential conflicts in allocating opportunities among funds, separately managed accounts and solicited investors.