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Long-term investments
in public and private companies.

About our
PARTNERSHIP

Founded in 2003, Kinderhook Partners makes long-term investments in public and privately held companies worldwide. 

Substantially all the capital the partnership manages belongs to the principals who work here. Our efforts since we began the partnership have produced annualized compounded returns greater than 20%.

Public Markets

We typically acquire positions by buying stock on the open market, through block transactions, or through direct investments, generally targeting initial investments of $5 to $25 million. When making direct investments in public companies, we typically favor uncomplicated common stock purchases which can be carried out quickly and with minimal transaction costs.  

Search Funds

Starting in 2004, Kinderhook has been an active investor in search funds based in North America as well as in Europe and Latin America. We are hands-on search fund investors interested in being involved in all stages of the search process including in appropriate cases serving on search fund company boards.  

Growth Equity

​We opportunistically seek minority investments in private companies. Our ideal targets have a proven business model, a clearly articulated business plan, and concrete uses for growth capital.

Areas of
INVESTMENT

Areas of Investment
Elegant Abstract Background

Our PHILOSOPHY

We manage a concentrated portfolio of long-term investments in public and private companies that we believe have both the potential to grow substantially in value, and management teams whose interests are closely aligned with shareholders.

We consider investment opportunities in a wide variety of industries, focusing on companies that have the potential for attractive margins and a high and sustainable return on equity.

We perform extensive due diligence on all prospective investments. When investing in public companies we prefer a passive, hands-off approach and generally do not become insiders. Occasionally, we may take a more active role in our investments drawing on our many collective years of experience serving on public and private company boards.  

Our team collectively owns the capital in the fund. Our stable capital base gives us the confidence and flexibility to invest for the long-term. Indeed, our investment horizon is typically at least three to five years but can be much longer.

In addition, the structure of our fund allows us to be comfortable with investments which are illiquid, exhibit substantial price volatility, or are outside of the United States.

Our Philosophy
Portfolio

Our
PORTFOLIO

Our team has invested over a billion dollars in more than 100 companies at Kinderhook and predecessor funds.

Amongst our Past and Present PUBLIC POSITIONS

Public B2B Businesses

Public B2C Businesses

Amongst our Past and Present PRIVATE POSITIONS

Team

Kinderhook
TEAM

  • Steve Clearman, Managing Partner
    Steve co-founded Kinderhook Partners in 2003. Before Kinderhook, Steve founded Geocapital Partners in 1984, a venture capital firm that managed more than $500 million in a series of partnerships in North America and Europe. The results were good. Prior to his work at Geocapital Partners, Steve spent four years at the venture capital firm Adler and Company after starting his career at Bain & Co. He has been a director of numerous public and privately held companies. He went to some of the right schools and was good at that many years ago.
  • Tushar Shah, Managing Partner
    Tushar co-founded Kinderhook Partners in 2003. He has led investments in a wide range of industries and has been a director of numerous public and privately held companies. Prior to Kinderhook, Tushar was a Principal at Geocapital Partners, a venture capital firm and was a strategy consultant with the Monitor Group. Tushar was also a WorldTeach volunteer in Ecuador. Tushar is a CFA charterholder and received a BA from Williams College.
  • Daniel Fernandez, External Advisor
    Daniel joined Kinderhook in late 2016 as an Analyst. During his tenure, he has spearheaded the fund’s expansion into international markets. He also provides support in sourcing and performing diligence on potential investments in public and privately held companies along with sitting on boards. Prior to Kinderhook, he was an Analyst at Horizon Capital Management, a deep-value investment firm located in Latin America and was a risk management analyst at CPA Ferrere. Daniel is a CFA charterholder and received a B.A. in Economics from Universidad ORT Uruguay.
  • Sahil Chawla, Analyst
    Sahil joined Kinderhook Partners in 2023. Prior to joining Kinderhook, Sahil was an Equity Research Analyst covering Aerospace and Defense and Oilfield Services at Susquehanna International Group. Before Susquehanna, Sahil worked at Freddie Mac on multifamily mortgage-backed security issuance. Sahil graduated from UC Berkeley with a double major in Economics and Interdisciplinary Studies.
  • Scott Mason, Analyst
    Scott joined Kinderhook Partners in 2023. Prior to joining Kinderhook, Scott was an Equity Research Analyst covering Health Care and Semiconductors for the Asset Management division of PNC Financial Services Group. Scott is a CFA charterholder and received a B.A. in Economics from Connecticut College.
  • Alisa Falsetta, Administration
    Alisa Falsetta joined Kinderhook Partners in 2017. Alisa manages and directs the ongoing administrative operations at the partnership and the firm. Alisa received her BS degree in Business Administration & Management from Ramapo College of New Jersey.
Contact
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Contact 
KINDERHOOK PARTNERS

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