Teleios Capital Partners

Teleios Capital Partners

Teleios Capital Partners was founded in 2013 by Maxim Bril and Adam Epstein, establishing its headquarters in Zug, Switzerland. The firm operates as an independent, partner-led investment manager with a concentrated, research-intensive approach to European public equities. The firm deploys capital through a long-only, concentrated value strategy across Western European mid-cap equities. Teleios builds positions in companies where it believes a valuation discount exists relative to intrinsic value, often engaging constructively with management and boards to catalyze change. Public record confirms the firm has held significant positions in companies spanning the technology, industrial, and media sectors, including Software AG, TeamViewer, and G4S. The geographic footprint centers on the DACH region, the UK, and the Nordics. Teleios runs a lean team from its Zug office. In May 2024, the firm publicly opposed the terms of Silver Lake's take-private offer for Software AG, a position that reinforced its reputation for active shareholder engagement (per Reuters, May 2024). Rather than spreading across hundreds of names, the partnership concentrates on a small portfolio, allowing deep fundamental work on each holding. Teleios's governance-engagement model distinguishes it from broader passive funds. The firm takes large minority stakes — often becoming a top-three shareholder — and uses that position to advocate for operational improvements, capital allocation changes, or strategic sales, a concentrated-activism approach that demands direct relationships with European corporate boards.