Impactive Capital was founded in 2018 and is organized as a Delaware limited partnership. Lauren
Taylor Wolfe and Christian Asmar (the “Principals”) are the primary owners and Managing
Partners of Impactive Capital. The Principals are primarily responsible for the management of the
strategies employed by Impactive Capital. Impactive Capital LLC serves as the general partner of
Impactive Capital and is also principally owned by the Principals.
Impactive Capital serves as investment advisor and provides discretionary advisory services to the
following private funds (each a “Fund” and collectively the “Funds” or the “Clients”):
• Impactive Capital Master Fund LP (the “Master Fund”)
• Impactive Capital Fund LP (the “Onshore Feeder”)
• Impactive Capital Fund Ltd. (the “Offshore Feeder”)
• Impactive Sierra Fund LP (the “Sierra Fund”)
• Impactive Champlain Fund LP (the “Champlain Fund”)
• Impactive Zephyr Fund LP (the “Zephyr Fund”)
• Impactive Bangor Fund LP (the “Bangor Fund”), a Co-Investment Vehicle as defined
below
• Impactive Balentine Fund LP (the “Balentine Fund”) , a Co-Investment Vehicle as defined
below
• Impactive Sierra Strategic Fund LP (the “Strategic Fund”), a Co-Investment Vehicle as
defined below
Impactive Capital’s investment objective is to generate attractive, risk-adjusted returns by
identifying high quality businesses whose shares are trading at attractive valuations, and then help
those companies invest capital effectively and ethically. Impactive Capital will seek to achieve its
investment objective by causing Clients to take significant ownership stakes in publicly traded
companies through open-market purchases, privately negotiated transactions, direct investments,
participation in underwritten offerings, or a combination thereof. Impactive Capital may seek to
influence management teams and boards in order to effect systemic change with respect to capital
allocation, strategic initiatives, operational improvements and Environmental Social and
Governance policies.
Impactive Capital invests in long and short positions in equity or debt securities of public U.S. and
non-U.S. issuers (including securities convertible into equity or debt securities); rights, options
and warrants; bonds, notes and equity and debt indexes; swaps, swaptions, credit-default swaps,
and other derivatives; instruments such as forward contracts on stock indices and structured equity
or fixed-income
products; exchange-traded funds; and any other financial instruments that
Impactive Capital believes will achieve its Clients’ investment objective. Each Client’s
investments may include both publicly traded and privately placed securities of public issuers, as
well as securities sold pursuant to initial public offerings. In providing services to Clients, among
other things, Impactive Capital: (i) manages the Clients’ assets in accordance with the terms of the
applicable Client’s confidential offering memorandum (or other disclosure document), individual
limited partnership agreement, investment advisory agreement, memorandum and articles of
association or shareholder agreement and other governing documents applicable to each Client
(collectively the “Governing Documents”); (ii) formulates investment objectives; (iii) directs and
manages the investment and reinvestment of the Clients’ respective assets; and (iv) provides, or
causes to be provided, periodic reports to investors and/or Clients, as applicable. Impactive Capital
provides investment advice directly to the applicable Client and not individually to owners, limited
partners or shareholders of a particular Client.
From time to time, Impactive Capital and its affiliates may offer one or more investors and/or other
third-party investors (including Impactive Capital, any affiliated entities, Employees, and
investment vehicles in which Employees may hold an interest) the opportunity to co-invest with
the Funds in particular investments via a Co-Investment Vehicle. Impactive Capital may, for
example, offer such investment in a Co-Investment Vehicle when the size of the opportunity
exceeds the amount of capital that Impactive believes should be invested by the Funds.
Fund investors are not generally permitted to impose restrictions on the types of investments in
which their respective Fund may invest. Investment restrictions for a Client, if any, will generally
be established in the Governing Documents of the applicable Client.
Impactive Capital may enter into side letter agreements with certain large or strategic investors
granting them, among other things, greater portfolio transparency, most favored nation rights and
reductions in fees in comparison to other investors.
As of March 1, 2024, Impactive Capital had regulatory assets under management of approximately
$3,108,857,203. Impactive Capital has discretionary authority over all of its Clients’ investment
activities.