P2 Capital Partners

P2 sources deals through a combination of public-market screening and private, proprietary networks built by Moller and Hvide over their combined decades in private equity and investment banking. The firm's small portfolio size allows it to focus on a handful of situations at any time, often identifying companies where a change in management, strategy, or capital structure creates a catalyst. It does not appear to use intermediaries or broad auctions for its private deals.

P2 operates as a hybrid. Its public-equity book functions like a concentrated, long-only value hedge fund with an activist bent, while its private transactions are structured as control buyouts or significant minority investments. This dual mandate is rare and requires LPs to accept both the liquidity terms of a private equity fund and the volatility of a concentrated public portfolio. The firm does not publicly categorize itself, but its 13F and transaction history confirm the hybrid structure.

Yes. While the firm's headquarters is in New York, its mandate includes Western Europe. Known investments and the professional networks of Moller and Hvide — who are of Scandinavian origin and have extensive European experience through EQT and KKR's European operations — indicate active coverage of the UK and Nordic regions. The firm does not publish a geographic allocation breakdown.