Dark Ice Capital / Approach
Own it. Build it. Run it well.
We buy businesses and real assets we know how to run better, put a written plan behind every one of them and hold all eight of our companies to one standard.
I. What we believe
Four beliefs.
Operators win real assets.
Buildings, land, hotels and networks reward the owner who runs them well, every day, for years. We are that owner.
One standard compounds.
When eight companies report the same numbers the same week each month, problems surface early and what works in one company can travel to the next.
Governance is value.
Insurers, utilities, air charter, senior living and telecom carry licenses and approvals. Keeping them in good order protects everyone who depends on the business.
Capital follows proof.
We put capital where the operating case is proven, not where the story is loudest.
II. How we invest
Five steps, in writing.
Our process for every acquisition.
Screen and allocate
Every opportunity is checked for fit and routed to the right company under our written allocation policy.
A non-binding indication
If it fits, we say so early and share how we think about value.
Letter of intent
With a diligence budget agreed in advance.
Full diligence
An independent quality of earnings review, a management assessment, a financing review, and legal, tax, regulatory, anti-corruption, sanctions and environmental checks.
Final approval
By the investment committee, chaired by Alexandra Pohl with William Pohl III as Co-Chair, with a written value creation plan and 100-day plan.
III. After we own
How we run.
After every acquisition, the 100-day plan sets a baseline and the reporting cadence we run across all eight companies.
One reporting cadence
The same core numbers from every company, in the same week, every month.
One set of controls
Written policies for valuation, conflicts, expenses, information security and anti-corruption, under one compliance program.
Shared services
Finance, compliance, legal, technology and investor services shared across all eight companies, under written agreements.
Brands that stay their own
Each company keeps its name, its customers and its culture.
IV. Honest about risk
We are a new firm with no track record as a firm. No Dark Ice Capital fund is offered today, and none will be until our registration is in place. Several of our companies hold licenses whose transfer needs regulatory approval first. We describe these risks fully in each fund’s offering documents.
Next step
Eight companies, each with its own brand.
Hospitality, real estate, natural resources, credit and insurance, consumer services, media, asset management and infrastructure.