Tactile Fund LP First Quarter 2025 Update

Tactile Fund LP is off to a good start. The fund ended the first quarter in positive territory against a backdrop of….well, just look around. April was especially strong, and May is off to a good start also. I wanted to share our inaugural quarterly letter to partners, which gives some more information on our project here and what to expect from future communications. You can view the letter by clicking the image below.

Tactile Fund LP is very much accepting new investments from accredited investors, so please reach out if our strategy of making long-term investments in companies with extraordinary physical assets appeals!

Back in April, I enjoyed recording a conversation with my friend Hunter Hopcroft, which can be found here. Our talk covered a range of topics, from the effects of currency fluctuation on foreign assets to finding bargains on the Euronext Brussels Expert Market. Hunter’s publication, Lewis Enterprises, is home to thoughtful pieces on many investing topics, especially real estate. I recommend it.

Last time around, I profiled a Tactile Fund investment, Svitzer Group A/S. Funny thing is, I nearly didn’t. I was worried that Svitzer might be a little too boring. It’s best to start off with a bang, isn’t it? In the end, I pushed forward anyway. I am glad I did, because the market provided the “bang.” Just days after publishing, A.P. Møller Mærsk (very fun to type) bid DKK 285/share for Svitzer, a 30%+ premium to the last trade. I can’t promise the next company profiled here will get an immediate takeover offer, but I do believe that Tactile Fund holdings make attractive purchases and we will see more buyouts and mergers in the portfolio in time. A pity, really, because I would like to own these companies for decades to come.

Thanks for following our journey in building Tactile Fund LP. I will be back in a week or two to profile another Tactile Fund holding. Unless you’re a hopeless market nerd like me, it’s pretty unlikely that the companies discussed on this publication will be familiar names. As one of our LPs wrote recently, “…I've never heard of most of these companies.. which is great!”