Established private equity house investing from an active vehicle, focused on predictable cashflows. Focus on property & block management within financial, insurance & property, where revenue quality and customer retention are evidenced. Investor is currently in fund with committed capital for near term execution. Previous acquisitions include buy and build programmes in established sectors, supported by operating partners. Open to deferred consideration where retention and performance measures are objective and measurable. Prepared to keep leadership in place where continuity protects performance and relationships. North American buyer targeting.