FIRM OVERVIEW
High-Conviction
Covian Capital is a value-oriented, high-conviction investment firm. We believe that owning a small number of high-quality businesses, bought at a discount to fair value, is the best way to compound capital over the long term.
Disciplined Research
Covian Capital employs a disciplined and repeatable research process. We significantly narrow the investment universe by focusing our research on competitively advantaged businesses that possess strong balance sheets and aligned management teams. Our long-term horizon and smaller size enable us to capture asymmetric opportunities across all market capitalizations and geographies.
Client Alignment
Covian Capital invests alongside its clients. Both strategies have been seeded with internal capital. Importantly, fees are aligned with client success.
Performance Culture
Covian Capital is built on a performance-based culture, and our team works collectively to drive attractive risk-adjusted returns. Covian's Global Equity & International Equity strategies have both materially outperformed benchmarks and peers since inception.
WHAT MAKES US DIFFERENT
We invert the value playbook.
Cheap is not the same as undervalued.
Most traditional value managers start with price and hope the business holds up, but we start with the business and wait for our price.
THE TYPICAL VALUE MANAGER
START
Everything that looks cheap
THEN
That might be good enough
OUTCOME
Often a value trap
COVIAN CAPITAL
START
High-quality franchises
THEN
Priced with a margin of safety
OUTCOME
~15-25 holdings
Leadership Team
Experienced Investors, personally invested.
Jason Long, CFA
Managing Partner
27+ years investing, including 15+ at Harris Associates in portfolio management, research, and partnership roles. Founded Covian in 2024 with significant personal capital.
Di Wu
Senior Analyst & Partner
20 years in financial services, 15 in investment management. Senior Analyst & Partner at Lion Point Capital; Director at Värde Partners. Joined 2024.
Josh Duhl
Senior Research Advisor
20 years in investment management, including a decade at Deccan Value as Senior Analyst & Partner on global portfolios. Joined September 2025.
Guillaume Redgwell
Senior Analyst
13 years in value equity, including a decade at Ninety One (formerly Investec) covering Global and UK Value strategies. Joined January 2026.
Phil Santopadre
Chief Operating Officer
25 years in investment management. Managing Partner, Operations & Compliance at Centerstone Investors; VP & Treasurer at First Eagle for 15 years. Joined February 2026.
By Introduction
We start with excellence.
Then we wait for our price.
We take on a small number of new relationships each year, and every introduction receives a personal reply.
For Accredited Investors Only