Strategy & Terms

Partnership terms designed to protect our strategy.

Asking Our Partners to Think Differently

JDP targets investments with 100% upside potential or greater over two to five years. While our process often begins with a highly contrarian approach, we invest in companies that possess the economics of a multi-decade compounder that could be held indefinitely in the absence of a superior opportunity.

Partnership terms are designed to align investors, fund strategy, and incentives.

 

Skin in the Game

The General Partner has 90% of their net worth in the fund, no outside investments, and no unrelated professional commitments.

Rolling 1-Year Commitment

We ask investors to commit to at least a year at a time, with a redemption window every December.

Perfomance Incentive

Management and investors are aligned through a performance incentive of 20% above a 6% hurdle rate and high water mark.

Management Fee

There is a 1% management fee to cover basic expenses that gets paid back before any performance incentive is earned.

Our compensation is tied to performance, not raising capital.

What to Expect

A few of the most commons questions we’ve been asked over the years.

Redemptions

What is the process to redeem my investment?
Any or all of your capital can be redeemed at the end of each year with a 30 day notice.
How long does it take to redeem and is there a fee?
No fee to redeem, redemptions generally settle within 30 days.
Can I get my money immediately in the case of an emergency?
The General Partner has the ability to make early redemption exceptions in special circumstances

Risk

What happens if the General Partner dies or becomes incapacitated?
If something terrible happens to the general partner the fund would be liquidated in an orderly fashion, overseen by our service providers, within 60 days.
Do you use leverage?
No, and as such we do not generate Unrelated Business Taxable Income (UBTI)
Are you hedged?
No, we do not hedge because our strategy ignores short term volatility in order to maximize absolute return. We manage concentration through sector diversification, asset quality and a multi-year time horizon.
Do you invest in anything other than publicly traded companies?
No.

Investor Communication & Transparency

What statements and reports will I receive?
  1. Monthly statements from the fund administrator
  2. Quarterly portfolio updates from the General Partner
  3. Annual letter from the General Partner
  4. Annual audited financials
Do you report the fund’s holdings?
Yes, we voluntarily report all positions over 5% of our portfolio.