Overview
History
Highclere International Investors LLP (“Highclere”) is a private investment management company
established in May 2006. Highclere’s principal business objective is to specialize in international small and
mid-cap investment primarily on behalf of investors based in the United States through privately offered,
unregulated collective investment schemes.
Highclere was registered by the FSA (now FCA) on May 3, 2006, and by the SEC on June 7, 2006.
Structure
All Fund Management and Operations are conducted by Highclere, a private Limited Liability
Partnership. All Marketing and Client Servicing is directed by Highclere International Investors, Inc. a
wholly-owned US subsidiary.
Highclere is a UK limited liability partnership. As of March 31st, 2023, Highclere had twelve (12)
individual partners and eight (8) employees. Highclere Investment Management Limited (“HIM Ltd”) is
a corporate partner and owns a majority (>90%) of Highclere’s capital. The remaining capital has been
contributed by the partners.
A structure chart highlighting Highclere’s organisation structure and material direct and indirect owners
follows.
Types of Services Offered
Highclere provides discretionary investment management services to its Clients. Highclere has a single
primary investment focus: international (ex-US) small and mid-cap equity. Highclere currently offers small
and mid-cap
exposure through four long-only privately offered, unregulated collective investment schemes.
Highclere does not typically accept separate accounts.
The International Smaller Companies program launched in June 2006. This has a microcap tilt and is
focused on the most inefficient priced end of the universe.
The Highclere International Investors SMID program launched in July 2008. It has a high-quality bias and
is a more concentrated portfolio of ideas that, for the most part, have grown out of our smaller companies’
research.
The Highclere International Special Situations program was launched in October 2020. This fund was re-
named The Highclere International Quality Value Fund in December 2021. This is a concentrated portfolio
with a quality focus across the wider cap range in out of favor sectors.
The Highclere International Quality Growth Fund was launched in April 2022. This is a concentrated
portfolio with an open mind towards growth and value ideas.
Highclere does not customise or modify its investment programme based on individual investor needs.
Unitholders in either of the commingled funds are not permitted to impose restrictions on investing in
certain securities or types of securities.
Highclere does not participate in wrap fee programs.
Highclere is also regulated by the UK Financial Conduct Authority (FCA)
Discretionary assets under management were $2.9bn as at March 31st, 2023.