Caines | Investments

Where Our Capital Is at Work

Caines manages capital across three books: operating businesses, infrastructure and a listed and cash portfolio. We do not publish a full register of positions on the public site, out of respect for the businesses and the families involved. A briefing covering the current portfolio is available to qualified prospective families on request.

Operating Businesses

We take direct stakes in mid-market operating companies across industrials, business services and the consumer category. Positions are sized to be meaningful at the company level and are held for the long term, structured as minority or controlling equity depending on the situation. Where our stake supports it, we expect at least one board seat.
A representative position will be a founder- or family-owned business with a defensible market position, run by a management team that wants a long-term partner.

Infrastructure

We hold long-duration positions in the assets that carry goods, energy and the data on which they increasingly depend. Most are structured as direct equity in single assets or in focused platforms, often alongside specialist partners. We underwrite each position on contractual cash flows that extend over many years, and we hold the position through the funding cycles in between.
Sectors we are most active in include logistics terminals, regulated and contracted utilities, and the fibre, tower and data-centre estate of the digital economy.

Listed & Cash

The listed portfolio is built around businesses we expect to compound over long periods, alongside selective fixed-income positions and cash where we are paid to hold it. These public holdings are constructed and reviewed by the same investment committee that governs our private positions, with the same patience. Turnover is low.