Seneca Capital

All investment decisions flow through the firm's two partners, Will Charlston and Simon Kemp. Charlston previously evaluated Australian companies as an Executive Director at Goldman Sachs, while Kemp restructured underperforming businesses as a Director at Alvarez & Marsal in the United States. There is no indication of an external investment committee or non-partner decision-makers.

The firm pursues a proprietary sourcing model built on the partners' professional networks formed during their tenures at Goldman Sachs, KPMG, and Alvarez & Marsal. It does not advertise a formal intermediary-referral program or outreach campaign, indicating a relationship-driven approach to finding founder-owned businesses in the Australian mid-market.

Seneca Capital acquires majority ownership in established businesses, typically those generating $2–8 million in EBIT on $10–60 million in revenue. It undertakes both platform acquisitions and add-on deals, with flexibility to pursue follow-on acquisitions outside its standard financial parameters when they complement existing portfolio companies.

The firm's public materials do not reference limited partners or disclose a fund structure. Its website describes deploying 'patient capital' without specifying the source, which may indicate a committed pool of partner capital, a discretionary separate account, or a fund that is not publicly marketed. Seneca Capital has not issued a public AUM figure.

The firm does not publish an exclusion list. However, its portfolio and stated criteria reveal a focus on stable, non-cyclical industries: branded aftermarket automotive parts, specialty water equipment, industrial services, and food service. High-technology, biotech, and resource-extraction businesses are absent from disclosed holdings and target descriptions.