Important noticeLindy Capital is a private investment company. It is not open to external investment, and nothing on this website is an offer, invitation, solicitation or advice.Not open to external investment. Nothing here is an offer or advice.Read the full noticeClose notice

Lindy Capital is a private investment vehicle. It invests capital belonging to its own group entities and does not accept, seek or manage money from outside investors. It is not open to external investment, and there is no current intention to open it.

Nothing on this website is an offer, invitation, solicitation or recommendation to invest in Lindy Capital or in any security, fund, property or other financial product. This website does not advertise, promote or offer any financial product or service.

Lindy Capital does not provide financial product advice, investment management or any other financial service to the public, does not hold an Australian Financial Services Licence, and is not a registered managed investment scheme.

Any discussion of investments, holdings or strategy on this site describes Lindy Capital’s own approach and decisions only. It is general in nature, may be out of date, and must not be relied upon as advice or as the basis for any investment decision. Anyone considering an investment should obtain independent professional advice.

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What we invest in

Lindy Capital owns two kinds of asset: high-quality US listed businesses and Australian commercial and industrial property, supported by deliberate cash reserves.

Listed businesses

US listed equities

The US share market is home to many of the world’s most durable businesses, with deep, liquid markets and a long culture of returning capital to shareholders. We own a concentrated group of them, and we expect to hold each for many years.

What we look for

A durable advantage
Brands, network effects, switching costs, scale or intellectual property that competitors struggle to copy.
Proven economics
High returns on capital and steady margins that held up through past downturns.
A strong balance sheet
Modest debt relative to cash flow, so a bad year stays a bad year and nothing worse.
Sound capital allocation
Management that reinvests sensibly and treats shareholders as partners.
A reasonable price
Valuation weighed against growth and quality, with room for error.

Real assets

Australian property

Well-located land is one of the most Lindy assets there is: finite, useful and still valued centuries on. Our Australian commercial and industrial property is owned for the income tenants pay and for the long-term value of the land beneath each building.

What we look for

Location and land
Established metropolitan and major regional locations where land is scarce and demand is broad.
Tenants and leases
Dependable tenants on leases with regular rent reviews and fair sharing of outgoings.
Buildings that age well
Functional, adaptable buildings whose maintenance costs are predictable.
Sensible gearing
Debt sized so the property can carry it if rates rise or a tenant leaves.

Agents and vendors

We consider off-market commercial and industrial opportunities.

Send us an opportunity

Optionality

Liquidity

We hold cash on purpose. It is the part of the portfolio that lets everything else stay invested.

Reserves mean a falling market is an opportunity rather than a threat, and that we are never forced to sell a good asset at a bad price to meet an obligation.

What we don’t publish

We don’t publish our holdings, performance, valuations or forecasts. Lindy Capital invests only its own capital, so there is no one to market to, and nothing on this site should be read as a view or recommendation on any asset.

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