We build businesses.

Cartesian is a global private equity firm with a demonstrated ability to grow companies internationally.

What We Believe

Our Practice

We build businesses.

Ours is not a “buyout” firm; we provide growth capital. Whether through growth, combinations, aggregation, or transformation, we help our companies expand and prosper globally—each in its own way.

Since 2006, we have been fortunate to manage more than $3 billion in committed capital for our investors.

More than

$3B

in committed capital, building intelligent, world-class businesses around the world.

About Cartesian

Consistent in our team, consistent in our practice.

For 20 years, we have been building companies in emerging markets—working closely with families, entrepreneurs, and other stakeholders to build market-leading companies in over two dozen countries around the world.

Our team has worked together, on average, for more than 20 years.

By the numbers

A Consistent Team

With more than 300 years of combined experience, our team has led pioneering transactions around the world. On average, we have worked together for more than 13 years, a longevity that ensures consistency in our investment practice.

Global & Opportunistic

Rather than specialize in a specific country or industry, we see the world as our opportunity set. To invest effectively, we execute a strategy built on the concepts of continuities and dislocations—proactively creating opportunities that present superior risk-adjusted returns.

Our Funds

Pangaea One, Pangaea Two, and Pangaea Three are our private equity vehicles. Cartesian Re, a specialized asset manager offering uncorrelated returns, is now “NB Insurance-Linked Strategies,” a division of Neuberger Berman.

About the Name “Cartesian”

René Descartes (1596-1650) is widely known for his contributions to mathematics; the Cartesian coordinate system serves as the foundation of analytic geometry and modern cartography. Descartes is often considered the first modern philosopher, due to his work regarding analytic skepticism.

Descartes’ combination of analytical rigor and skepticism resonates with our approach to private equity investing—hence, the name of our firm.

Our Funds

Pangaea One, Pangaea Two, and Pangaea Three are our private equity vehicles.

Pangaea One

Our first private equity vehicle, launched with the firm’s inception in 2006.

Pangaea Two

Continuing our practice of building market-leading companies in emerging markets.

Pangaea Three

Our current vehicle, investing globally and opportunistically around continuities and dislocations.

Our Practice

Rather than specialize in a specific country or industry, we see the world as our opportunity set. To invest effectively, we execute a strategy built on the concepts of continuities and dislocations. Using this strategy, we proactively create opportunities that present superior risk-adjusted returns.

Continuities

Large-scale, long-term changes in consumption, investment, industrial organization, or resource allocation—driven by demographic, social, political, environmental, or technological forces.

Dislocations

Disruptions that result in a temporary divergence between value and price—caused by macroeconomic or political events, sectoral realignments, corporate or family dynamics, or external shocks.

Growth Capital

Ours is not a “buyout” firm. We deploy our capital to help our companies expand and prosper globally—each in its own way.

In executing our investment strategy, we adhere to a strict and constant discipline. Five values anchor our investment analysis, construction, and decisions—both the investments that we make and those that we do not.

Intelligent Valuations

We are, fundamentally, value investors. We believe that attractive and fair valuations create superior risk-adjusted returns for all stakeholders.

Creative Structures

Thoughtful investment structures can align interests, manage risk, and generate value—preferred and convertible securities, option-based instruments, royalties and streams, and more.

Risk Management

We invest globally, with a special expertise in emerging markets. We continually analyze how to mitigate, manage, or eliminate risks—economic, currency, political, or exogenous.

Value Creation

We build our partnerships to create value for both our investors and our stakeholder partners—through secondments, strategic advice, institutional development, merger synergies, and more.

Humility

We are chronic and insatiable learners, keenly aware of what we do not know. We invest expansively in diligence, and believe deeply in the fortitude to walk away.

Our focus continuities span the aspirations of a transnational middle class, the future of food, consolidation of cyclical industries, the hardware and software of globalization, the next generation of financial services, emerging markets-led M&A, wireless technologies, and global growth & sustainability.

The Aspirations of a Transnational Middle Class

Over 20 years, the middle class in the world’s emerging markets will expand by more than 1.5 billion people—driving demand for convenience products, healthcare services, and private education.

The Hardware & Software of Globalization

The world economy is deeply, irrevocably, and increasingly integrated—driven by international trade and investment, and supported by information technology.

The Next Generation of Financial Services

A well-functioning, well-managed financial system remains a prerequisite to sustained economic growth. We see long-term opportunity in its evolution.

Our Investments

Twenty years of building businesses around the world.

We have worked closely with families, entrepreneurs, and other stakeholders to build market-leading companies in over two dozen countries. Our team has committed more than $2.5 billion to more than 70 companies in more than 20 industries.