The right partner can be the difference between surviving and succeeding.
Never waste a good crisis. The severity of the new reality brought clarity to make hard decisions. Further, a crisis creates opportunities as it does devastation. One cannot afford to be in denial about the latter nor be blind to the former. When we acted decisively and with conviction, we stemmed losses, bolstered positions and then used the stronger footing to create wealth. The capital invested in Covid will, I suspect, generate returns similar to the investments we made in 2009/2010. In hindsight, we could have acted even more boldly and profited greater. None of this could have been possible without the unwavering dedication and focus of our investment partners, and the steady-hand of our banking partners: they were supportive beyond expectation and immediately. Similarly, we were there for our operating partners. The loyalty and performance, all around, will not be forgotten.
Good partners are defined not when things are going well but when times are more challenging. This has been a challenging year and as such it is in times like these when you can really tell who you can count on.
Always manage your liquidity for the unexpected. Staying power preserves value.
Be ready for the unexpected and move into action when the unexpected arrives on your doorstep. I think the Clairvest Team has met that challenge and more with their response to the COVID-19 challenge.