We directly manage core disciplines for which we have strong capabilities and experience, including global large-cap and mid-cap equities, U.S. fixed income, convertible bonds, and commodities.

For asset classes requiring unique expertise, such as global small cap equities, global fixed income, hedge funds, real estate, and private equity, we utilize a set of carefully selected external investment managers.

Purpose: Designed to achieve long-term capital appreciation by investing in a diversified set of equities across market capitalizations, primarily in developed markets.

Process: Large capitalization companies are selected based on their sustainable growth rates, high earnings quality, attractive valuations, and improving fundamentals. Small and mid-size companies are selected on the basis of strong business models as measured by highly visible cash flow generation, reasonable capital needs, and aligned management teams.

Summary information is available below:

Purpose: Designed to 1) achieve long-term capital appreciation by investing in a concentrated selection of stocks of large capitalization companies, and 2) provide primary exposure to public equity markets together with Large Cap Strategies.

Process: Build a portfolio of companies with sustainable growth, quality businesses, attractive valuations, and improving fundamentals. While the strategy's mandate is global, the focus is currently on U.S. stocks. The portfolio typically consists of 35 to 45 stocks.

Summary information is available below:

Purpose: Designed to 1) achieve long-term capital appreciation by investing in stocks of large capitalization companies in developed and emerging markets, and 2) provide primary exposure to public equity markets together with Large Cap Core.

Process: Combine the following complementary investment strategies:

  • Bessemer Large Cap Global emphasizes companies with established competitive advantage achieving high and sustainable returns on operating capital, but with more moderate growth;
  • Bessemer Large Cap U.S. focuses on companies selling at low valuations where there are prospects for recovery;
  • Sands Capital Management invests in earlier-stage companies that are experiencing rapid growth through superior products or services;
  • Harding Loevner invests in emerging market companies with a sustainable competitive advantage and superior returns on invested capital that are trading at a reasonable price; and
  • Bessemer Managed Volatility Equities is a quantitative lower volatility strategy which narrows down the global equity universe to find companies that are attractive based on valuation, management quality, and company-specific risk.


A team of Bessemer professionals maintains overall responsibility, manages a portion of the assets, and oversees the external sub-advisers.

Summary information is available below:

Purpose: Designed to 1) achieve long-term capital appreciation by investing in stocks of mid-size companies, primarily in developed markets; and 2) provide primary exposure to public equity markets together with Small & Mid Cap Strategies.

Process: Identify companies that possess strong business models as measured by highly visible cash flow generation, reasonable capital needs, and aligned management teams. Determine when these companies are trading below their intrinsic value, thereby providing a margin of safety in differing scenarios.

Summary information is available below:

Purpose: Designed to 1) achieve long-term capital appreciation by investing in small and mid-size companies around the world, and 2) deliver a performance pattern not highly correlated with our other equity portfolios.

Process: Combine the following diverse managers:

  • Bessemer Mid Cap emphasizes global mid-size companies with underappreciated competitive advantages that are selling below the team’s estimate of their intrinsic value;
  • Champlain Investment Partners (Vermont based) focuses on U.S. small and mid-size companies with strong growth potential trading at discounted valuations;
  • Dimensional Fund Advisors (Texas based) focuses on small companies around the world, using a strategy that emphasizes broad diversification;
  • Mondrian Investment Partners (London based) focuses on small cap companies outside the U.S. generating superior cash flow and paying dividends;
  • Bessemer Managed Volatility Equities utilizes a quantitative volatility-managed strategy focused on global small and mid cap stocks; and
  • Martingale Asset Management (Boston based) utilizes a quantitative volatility-managed strategy focused on U.S. small cap stocks.


A team of Bessemer professionals maintains overall responsibility, manages a portion of the assets, and monitors the external sub-advisers.

Summary information is available below:

Purpose: Strategic Opportunities is a global unconstrained asset allocation strategy designed to achieve long-term capital appreciation with controlled volatility or risk

Process: Pursue attractive opportunities generated from fundamental dislocations or historic extremes throughout the global capital markets. Investments are made across asset class which include, but are not limited to: global equities, corporate bonds (such as investment grade, high yield, and convertibles), government bonds, commodities, currencies, derivatives and other asset classes (such as futures, forwards, swaps, and options). Implementation, risk sizing and portfolio construction are a critical focus for the manager to express investment views and deliver attractive asymmetric risk/return characteristics across the entire portfolio.

A team of Bessemer professionals maintains overall responsibility of the mandate—managing a portion of the assets and overseeing external sub-advisers utilized within the portfolio.

Summary information is available below:

Purpose: Designed to 1) provide a competitive rate of return with a relatively limited level of risk, and 2) deliver a performance pattern not highly correlated with our equity portfolios.

Process: Use proprietary analyses to target investment-grade securities and focus on adding value through active management. Manage inflation and credit risk in a manner designed to provide strong returns while protecting the underlying assets.

Summary information is available below:

Purpose: Designed to 1) maximize after-tax total return while maintaining a relatively constant flow of tax-exempt income, and 2) deliver a performance pattern not highly correlated with our equity portfolios.

Process: Focus on producing consistent investment performance while achieving a balance between maximizing tax-exempt income and preserving principal. Use proprietary analyses to identify and exploit aberrations (e.g., supply/demand imbalances) in an unstructured marketplace to increase relative return.

Summary information is available below:

Purpose: Niche global fund-of-funds program designed to deliver strong risk-adjusted returns by investing with managers across a variety of investment strategies. Seeks to deliver a return pattern not highly correlated with stock or bond indices. Not available to or appropriate for all investors.

Process: Use in-house research and expertise to determine asset allocation and to select managers. Benefit from Bessemer’s long history in hedge fund investing and distinguished reputation to gain access to top-performing funds. Adhere to a disciplined process for building portfolios, including the following:

  • Diversifying across styles and strategies
  • Selecting leading managers
  • Ongoing monitoring

Purpose: Fund-of-funds investment program designed to 1) deliver attractive long-term capital appreciation by pursuing private investment opportunities through venture capital and later-stage private equity funds throughout the world, and 2) deliver a return pattern not highly correlated with public markets. Not available to or appropriate for all investors.

Process: Leverage longstanding presence in the private equity industry and extensive investment expertise in the asset class to build funds of funds that combine venture capital and later-stage private equity investments. Draw on key competitive advantage of having access to leading managers whose funds may be closed to new investors, as well as emerging managers we believe to be promising. Adhere to a disciplined, research-driven process for building each portfolio of funds including the following:

  • Developing appropriate diversification strategies
  • Selecting managers based on a rigorous screening process
  • Monitoring investments on an ongoing basis

Purpose: Fund-of-funds investment program designed to 1) deliver attractive long-term capital appreciation by pursuing global investment opportunities in commercial real estate as well as other private real assets (e.g., power and energy, oil and gas, infrastructure), and 2) deliver a return pattern not highly correlated with public markets. Not available to or appropriate for all investors.

Process: Build funds of funds by leveraging 1) longstanding presence in the private equity and real estate industries, and 2) extensive investment expertise in real estate and other private real asset classes. Draw on key competitive advantage of having access to leading managers as well as emerging managers we believe to be promising. Adhere to a disciplined, research-driven process for building each portfolio of funds, including:

  • Developing appropriate diversification strategies
  • Selecting managers based on a rigorous screening process
  • Monitoring investments on an ongoing basis

Old Westbury Funds, Inc. is an open-end management investment company registered under the Investment Company Act of 1940, as amended. Bessemer Investment Management LLC ("BIM"), a subsidiary of The Bessemer Group, Incorporated is the investment adviser for Old Westbury Funds, Inc. Investments in the Old Westbury family of funds must be authorized by BIM.

Summary information concerning each of the Old Westbury Funds is available below:



Sector and Industry classifications included in this presentation utilize the Global Industry Classification Standard ("GICS®"). GICS® is the exclusive property and a service mark of Morgan Stanley Capital International Inc. ("MSCI") and Standard & Poor's ("S&P"), a division of The McGraw-Hill Companies, Inc. Neither MSCI nor S&P makes any express or implied warranties or representations or shall have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) with respect to GICS® data or results obtained therefrom.