Castle Hill Values - 2 of 4 - Accountability
Large organizations diffuse accountability and make it difficult to step up and take ownership. Management layers and reporting structures shield individuals from accepting responsibility and taking risk.
We started Castle Hill to build a different model.
We wanted to cut through the noise and focus on the signal only. For us this meant removing unhelpful constraints, scheduling inefficient meetings and requiring needless reporting structures. We wanted to just get to work and deliver for our clients.
Successful colleagues on our platform have a similar mindset.
At Castle Hill, we think of Accountability in four ways.
First and foremost - to our manager clients. We do what we say we’re going to do. We communicate actively and strive to deliver on expectations. To our clients, our job is to raise capital. However, we’re not omnipotent - we need their partnership. If we determine that we’re not getting the help we need or we observe deficiencies in a presentation - verbal or written - we will tell our clients as much. We are paid on success so if the partnership of client and Castle Hill is not in sync - we have to fix it. Often we are the only one that can deliver direct feedback to portfolio managers because we’re aligned on the outcome.
We are accountable to our limited partner investors. It is our duty to not waste our investors’ time. We screen opportunities, conduct the necessary diligence, and ensure that investors have the information they need when they need it. We listen when we are graced with insight and information on asset allocation and portfolio requirements. We seek to be the call they take and the email they return because we did the work and we’ve listened.
We hold each other accountable as colleagues. While blessed with independence our affiliates are in this together to help our clients raise capital and be successful financially. Success can’t happen unless we hold each other accountable to optimize the process and put the best foot forward. Is this the best intro note we can write? Is this the best pitch deck? Why does the 1-pager look like it was created in 2001? Can we get better feedback? Have you suggested a different structure? We have created an environment of trust where direct feedback is welcome and freely given. We’re all on the same team and want to close business.
Finally, we are accountable to ourselves. We don’t blame. We own. This is entrepreneurship at its rawest. Raise capital, you have a business. Don’t raise capital, you don’t. The best of my colleagues and peers in the industry are constantly evaluating themselves, tracking processes, improving systems, reading, learning, listening adjusting and never blaming.
Please reach out if this sounds compelling.