Deep Dives
Deep Dive – Asseco as the architect of the next Polish growth era
We discuss three reasons why Asseco could grow into the digital champion of Central Europe.
Joep Dikken
I'm Joep Dikken, investment analyst at Tresor Capital. With a background in financial economics, I focus on monitoring portfolio companies, carrying out fundamental analysis and identifying new investment opportunities.
Family Holdings
Family Holdings #43 – Record results at MBB leave us wanting more
Also in this issue: Swedish serial acquirers show how it's done; Chapters CEO Jan Mohr on the 'Shotgun' and 'Rifle' AI approach.
Media
Tresor Capital guest on the 'Talking Billions' podcast
Day-to-day noise dominates the stock markets, where the focus rarely extends beyond the next quarterly report. Genuine value creation, however, unfolds over decades and generations. A culture of permanence forms the foundation for this. This very theme was central to a recent, in-depth conversation on the podcast
Family Holdings
Family Holdings #42 - Investor AB rides the megatrends of AI and defence
Also in this edition: Scottish Mortgage on keeping investing simple; Brookfield increases its exposure to private credit and energy.
Media
Tresor Capital guest-featured on Beating the Benchmark
Partner Michael Gielkens recently appeared on Beating the Benchmark, a LinkedIn Live webinar hosted by fintech company Performativ. In a conversation with Christian Lindvall, he explained Tresor Capital's disciplined investment strategy. This strategy underpins the outperformance that the family holding company strategy has achieved relative to global benchmarks
Family Holdings
Family Holdings #41 - Family holding companies go all in on artificial intelligence
This week was dominated by acquisitions and AI growth. Major holding companies and tech firms expanded their operations through strategic acquisitions, while Alphabet and others invested heavily in AI innovation and data centre expansion.
Deep Dives
Deep Dive – In the shadow of Action, 3i Group's PE portfolio delivers
3i Group is increasing its stake in Action as the discounter keeps growing strongly despite headwinds in France and Germany. At the same time, the private equity portfolio shows that 3i also creates consistent value beyond Action through internationalisation and scalable niches.
Family Holdings
Family Holdings #40 – Asseco and Topicus light up the sky in Poland
This week's topics: Topicus has received the green light to expand its stake in the Polish IT giant Asseco Poland to 24.84%, ushering in a new era focused on long-term value creation. The strategic alliance brings in the disciplined capital allocation and operational expertise of Topicus
Family Holdings
Family Holdings #39 - Constellation Software shares its AI vision: founder Mark Leonard steps back
This week's topics: Shares in Constellation Software came under pressure this week after founder and figurehead Mark Leonard, three days after a rare AI webinar, unexpectedly stepped down as president for health reasons. During that session, Constellation discussed the impact of AI at length: how the company implements
Deep Dives
Deep Dive – Brookfield Corporation wants to double again
Brookfield Corporation (New York: BN) has been known for decades as an investor in real assets – infrastructure, real estate, private equity and renewable energy – often starting with its own capital, later supplemented by an ever-growing inflow from institutional investors. This institutional capital now forms the core of the asset
Family Holdings
Family Holdings #38 - The impact of AI on VMS companies, part 2
This week's topics: Does AI pose a threat to established niche software companies? We think not; their true strength lies not in technology, but in deep market knowledge and the high switching costs for their customers. This is confirmed by the CEO of Chapters Group, who emphasises that
Deep Dives
Deep Dive – Record after record at Heico
This week we take a deeper dive into the serial acquirer Heico Corporation (New York: HEI-A). The American company, active in the aftermarket for aircraft parts, has recently posted yet another record quarter. Net profit rose to USD 177.3 million (+30%), operating profit to USD 502.1 million