Recently read

Kottke, “Maradona and Jesus: shifts in global fame through the ages”

We live in a celebrity society in which famous people can reap extraordinary financial rewards. A methodology and charts developed at MIT show how the status of celebrity has evolved over the years. Up until the Renaissance, the best-known people in the world were mostly politicians and religious figures; now athletes and entertainers dominate the list, with footballers making up almost a third of the most famous.

(, 25 February 2016)
Please click here to read the article

“Harvard researchers discovered the one thing everyone needs for happier, healthier lives”

Waldinger, a Harvard psychiatrist in charge of the Grant Study (it began in 1938 – the longest study of human development) presents its conclusion: the happiest and healthiest participants were the ones who maintained close, intimate relationships. It is that simple! By contrast, commercial projection of a good life – wealth, fame, career success – won’t bring health or happiness (reads in about 10 mn and contains a TED video presentation).

(Washington Post, 2 March 2016)
Please click here to read the article

Hans Taparia and Pamela Koch, “A seismic shift in how people eat”

Shift_how_people_eatConsumers are walking away from the most iconic food brands, with disastrous consequences for some of the large established companies. According to the two academics, legacy food companies, if they want to survive, will have to make bold changes in their core product offerings. They’ll have to drastically cut sugar; process less; go local and organic; use more fruits, vegetables and other whole foods; and develop fresh offerings. Few will succeed. The article focuses on the US, but the trend is much broader.

(The New York Times – metered paywall, 6 November 2015)
Please click here to read the article

Geoff Mulgan, “Happiness by Design”

Happiness_by_DesignIn an increasing number of countries, raising the level of happiness is now becoming an explicit policy goal. The founder of Action for Happiness (a UK initiative) argues that it can even be taught. In this short article (reads in about 5mn), he explains how particular government programmes and policy initiatives can contribute to greater happiness.

(Project Syndicate, 12 November 2015)
Please click here to read the article

About us

Who we are

International is a Specialized Investment Fund (“SIF”) focusing its efforts into Relationship Investment. We aim to participate in creating sustainable and long term value. We work as a team and strive to create close relationships with investors sharing our values and aiming to have positive impact on society at large.

Our story (so far)

In 1994 discussions arose at the level of our key investor around how to develop a forward-looking investment organisation that would provide inflation-protected assets to safeguard the owners’ assets in the long-run. The conclusion was to focus on recycling existing capital back into the real economy with a long-term perspective and the aim of achieving good returns without taking outlandish risks. So we have done.

Our Team

We are a diverse investment team from many different countries around the world, sharing a wide variety of professional backgrounds and complementary skills. We’re small and lean and we like it that way. Our size allows us to truly collaborate as a close-knit team, focusing our resources in a personal way.

Our vision

We share the vision: To create a better everyday life for the many people.

We believe that our work has the possibility to improve lives in the markets where we invest even if results are not immediate. Moreover, by protecting and growing assets we provide important safeguard through good times and bad, to stay the course of insisting on a more caring capitalism.

Our Culture

Over more than 20 years of Relationship Investing we have developed a unique culture that is both seen and felt, visible and invisible. It is a culture that reminds us to think and react more creatively and optimistically, making better use of the scarce resources at hand.

We believe in the power of the positive energy generated through togetherness.
We believe in unleashing ingenuity and encourage a willingness to be different.
We believe in strong willpower and always trying our best to humbly tackle any challenge.
Keeping our culture fresh and alive is a key to our continued success.

Our Culture and values are inspired by those of our key investor which are driven by a constant desire for renewal and a willingness to make changes, as well as a cost-conscious mindset applied in all areas of operations. They also imply a willingness to try solutions other than the conventional ones and daring to be different while maintaining practical connections with the day-to-day activities. Humbleness in approaching our task and simplicity in our way of doing things are also cornerstones in our culture.

Our Philosophy

As investors, we strive to handpick qualified entrepreneurs and support them with capital to realize their dreams, but there is nothing typical about the way we invest. We stay close to our investment relationships and interact constantly with our partners. We aim to support them with our historical expertise and knowledge and add value to businesses in order to ensure long-term success and job creation.

We believe in long-term partnerships with the right people to build better companies that, over time, will hopefully resist cycle downturns.
We believe in investing globally, which gives us the opportunity to see cycles develop, cross-fertilise best practices and join forces early.
We believe in constantly promoting simplicity so that we can become a more responsive counterpart for our partners.
We believe in focusing our energy and our resources on a selected few transactions that come from both bottom-up and top-down.
We believe in being open-minded which lets us dare to be different at key turning points in the investment cycle focusing on the long term prospective.
Our size is our advantage. We can operate this way because we are fast, collective and selective. We are passionate about what we do and in an investment world obsessed with the large-scale, loud and vocal: we’re happy to keep things small, low-key and local.

Our Brand

While until recently the investment activity operated under the key investor’s brand name and logo, International is now operating under its own brand.


Today we feel that the name International clearly reflects our team’s ambition, mindset and investment strategy. Our logo emphasizes how the flow of interactivity transcends into investments over time: mandates are given, investments are done and at our best effort we drive value that again recycles back into the real economy and society.











Investment Strategy

Investing for better businesses

We believe that by investing with other likeminded groups we can achieve more and even bring about real change. Of course, we want to build long-term monetary value, but we also want to contribute to building good and sustainable companies for the future. We creatively search for the right people with interesting ideas and inspire them to instill our values and ethics into their operations, by creating sustainable enterprises.

We see environmental, social and governance (ESG) issues as vital drivers of building better businesses over time. We can always do more, but we will continue to strive to work together with our partners to create a better overall business situation in the companies we invest in. Our team tries its best to drive these values within our existing portfolio and over time we will continue to identify and follow-up on relevant ESG subjects.

Sustainable investment is not just about environmental or ethical considerations, it’s about trying to do intelligent investment in businesses that will benefit everyone: employees, shareholders, customers and the wider community.

Pioneering Relationship Investing

Since our beginnings we have primarily focused on Relationship Investments. This means that we make significant minority investments in company-situations where a deeper partnership can add value and help generate outperformance. We look for relationships where we can contribute to transformative growth opportunities, improve balance sheets or inspire significant shareholder transitions. Additionally, we apply the approach to fund structures where we clearly see that we can add long-term value, such as on investment committees and boards where our company background and history of investing in non-listed assets can make substantial contributions.

Approaching risk differently

For many, assessing risk has been based on the assumption that the existing state of affairs will continue indefinitely. But, as economist Hyman Minsky reminded us, “Each state nurtures forces that lead to its own destruction.”

To us, financial risk is the chance of facing permanent losses, which is very different from volatility or fluctuations. Rather than seeing risk simply as a number, we also take intuition into account, which cannot be quantified. Overall we therefore relay to our investments in rather qualitative terms.

Finally, we believe that we can reduce risk by being an engaging partner. Each team member adds his or her own experiences and natural ambition to learn and grow and together with our relations we work hard to help driving performance in targeted deals. That way we can offer long-term staying power as a solid reliable partner.

Emphasizing governance and accountability

Our Governance is based on the EU directive on Alternative Investment Fund Management (AIFM) and is regulated by the Luxembourg CSSF, to which we are strictly accountable and which has shaped our policies and rules. To ensure the long-term support and trust, we place a high value on complete transparency with our capital providers.

As a regulated entity we are held accountable as described above. Our firm’s daily dealings are operated at arm’s length from the Fund, adhering to the set requirements and set out practices that govern our board and employees. We are externally audited and produce annual accounts. We voluntarily aim to over time exceed ESG requirements and related responsible investment practises because we believe that it clearly benefits society and our investments in the long-term.











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