About Us

Peregrine Capital’s investment philosophy is rooted in our fundamental, bottom-up, valuation focused approach. Our competitive advantage lies in our ability to identify superior and inferior business models and management teams, to estimate expected returns, and to rationally buy and sell securities according to our estimate of intrinsic value. We conduct rigorous qualitative and quantitative assessments of companies we choose to invest in, to enhance the degree of confidence we have in our model assumptions.

While we believe that embracing complex situations often gives us an advantage against our competitors, we are acutely aware of macro-economic variables like interest rates, currencies and commodity prices that are largely unknowable, and where we have no “edge”.

We attempt to balance margin of safety and opportunity cost to ensure we get the most appropriate return for the risk we are prepared to assume, and our conviction levels are reflected in our position sizes.

While we see value in diversification, we are willing to concentrate our portfolios in high conviction ideas when we identify exceptional opportunities. We regularly review past decisions, especially our errors, to institutionalise lessons from these missteps as a means of building and improving upon our investment process.