Private Growth
Quarterly Updates
Quarterly Strategy Reviews
In these webcast reviews, the featured portfolio managers discuss perspectives on the market environment, the portfolios' top contributors and detractors, and recent purchases and sales.
The 2Q 2025 Quarterly Strategy Reviews for Select Growth, Global Growth, Global Leaders, and Emerging Markets Growth will be available until August 22, 2025.
The 2Q 2025 Quarterly Strategy Reviews for Select Growth, Global Growth, Global Leaders, and Emerging Markets Growth will be available until August 22, 2025.
Flash Reports
Our quarterly summary reports of recent investment results, top 10 businesses, portfolio characteristics and exposures, and contribution analysis are available to download now.
Flash Reports
Our quarterly summary reports of recent investment results, top 10 businesses, portfolio characteristics and exposures, and contribution analysis are available to download now.
Commentary Reports
These reports consisting of portfolio overviews, commentary, contribution analysis, purchases and sales, carbon metrics, engagement, and voting activity are available to download now.
Quarterly Reports
These reports consisting of portfolio overviews, commentary, contribution analysis, purchases and sales, carbon metrics, engagement, and voting activity are available to download now.
“They know where the market is heading and what it needs. It has been a complete alignment with our vision.”
Ajay KhannaFounder & CEO, Tellius 
“They know where the market is heading and what it needs. It has been a complete alignment with our vision.”
Ajay KhannaFounder & CEO, Tellius 
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Latest Thinking
Investment Strategy
Human Capital as a Competitive Advantage
From AI savvy workforces to cultures that champion continuous learning, forward thinking employers can turn talent into a flywheel of innovation, resilience, and compounding growth. For many asset-light businesses, people remain the greatest competitive edge, turning strategy into sustained value.
In The News
Sands Capital Retains UK Stewardship Code Signatory Status
The United Kingdom’s Financial Reporting Council has named Sands Capital as a signatory to the UK Stewardship Code for the third year in a row. The UK Stewardship Code was designed to strengthen reporting requirements and stewardship expectations for asset managers, asset owners, and service providers.
Investment Strategy
Unleashing AI’s Next Wave of Infrastructure Growth
A multiyear compute super-cycle is underpinning AI’s rapid advance. Surging model scale and inference workloads are colliding with scarce advanced fabrication and packaging capacity, creating durable pricing power and high barriers to entry across the infrastructure stack—an ecosystem potentially poised to deliver long-term value for investors.
Investment Strategy
Finding Growth Leaders in International Markets
A narrow cohort of strategic businesses with pricing power, foresight, and resilience lies tucked within the broad international benchmarks. By applying our deep business-focused research, we seek the hidden gems that we believe will offer long-term value-creation opportunities.
Investment Strategy
AI at Scale: The Forces Shaping the Next Decade
In this video series, Portfolio Manager and Sr. Research Analyst Daniel Pilling explores how generative AI is reshaping industries. In examining training versus inference, compute economics, infrastructure constraints—from power grids to chip supply, he evaluates valuations and long-term opportunities for businesses able to seize the promise of the rapidly developing technology.
Investment Strategy
Valuations Don’t Reflect Potential of Gen AI
Valuations have surged, driven by AI enthusiasm. Portfolio Manager Daniel Pilling argues that semiconductors and hyperscalers don’t reflect the potential from yet-to-be-realized revenue opportunities in evolving industries, such as robotics and autonomous vehicles
Investment Strategy
Reimagining Work and Value in the AI Age
Compute growth and synthetic training environments will fuel industrial and domestic robots, unlocking efficiencies and redefining time’s value. Explore how AI adoption and consumer time savings may reshape economics and spending patterns.
Investment Strategy
AI Adoption Becoming a Matter of Survival
AI infrastructure has evolved from optional investment into an existential imperative. Hyperscale compute delivers sub-year paybacks and fortifies resilience against downturns. Portfolio Manager Daniel Pilling argues that organizations underinvesting in AI infrastructure risk falling irretrievably behind in tomorrow’s digital economy.
In The News
Opportunities in International Markets Discussed on Bloomberg Intelligence’s Inside Active Podcast
Sands Capital’s Danielle Menichella, portfolio manager of the International Growth Strategy, was featured on Bloomberg Intelligence’s Inside Active podcast, discussing how we invest with conviction in international markets.
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