Select Equity Group

Select Equity Group (SEG) is a $30B+ hedge fund founded by George Loening in 1990 at age 23 with $70,000 from his mother. Before building the asset management business, Loening ran an equity research business: by 1995, 20 of the 35 largest US asset managers were paying research clients. The research business was shut down in 2000 once the asset management side no longer needed it as a subsidy.

SEG’s original 1991 strategy has compounded at 15.3% net returns annualized — turning the original seed capital of $75,000 into approximately $5.4M (70x+).

The fund’s investment philosophy has three pillars: great businesses, rigorous research, and disciplined investing.

SEG is one of the most respected but lower-profile long-only equity funds in the US. Aventine has ties to the SEG lineage.

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