Founded almost twenty years ago, Ulysses is the successor firm to Odyssey Partners, LP, the pioneering hedge fund formed in 1982 by Jack Nash and Leon Levy. Odyssey was an innovator in the development of the alternative investment market and made some of the earliest private equity investments almost 40 years ago when they were known as ‘boot strap’ investments. This tradition of investment innovation continues within the Ulysses private equity group, which is one of our three principal areas of investment focus along with public market and real estate investments.
Our private equity group has a broad and flexible investment mandate that allows us to pursue attractive opportunities as a sponsor, co-investor or limited partner. Wherever we invest, whatever the industry or transaction size, our core philosophy is always the same: find companies with identifiable barriers to competition, partner with talented managers operating under the right incentives, forge long-term relationships built on accountability, trust, transparency and collaboration, and together we can create substantial value.
We do not invest out of a typical investment fund structure and consequently are not bound by traditional PE capital raising demands. Our capital is more durable and allows us to invest across 5-10 year business cycles, enabling us to be far more strategic and long-term oriented without the time pressures created by funds with typical short-term investment horizons. This appeals to both sellers (no stripping and flipping of their legacies) and to management teams (providing an opportunity to create meaningful wealth over a long period in a stable platform). We believe the power of compounding has been lost in the private equity world in favor of the generation of fees for the sponsor. At Ulysses, we earn our investment returns alongside our fellow owners, not in front of them.