Aventine Capital Management

About Aventine

Investment Philosophy

Firm

Aventine Capital is an independent investment manager focused on global public equities. We invest in cost-advantaged businesses where improved capital allocation can unlock long-term shareholder value. Our focus is on non-U.S. markets where such opportunities are most prevalent.

The portfolio is concentrated and built from the bottom up. Core holdings are durable, with pricing power, strong competitive positions, and improving cash conversion. Our underwriting emphasizes downside protection, prioritizing capital preservation over speculative gain.

We believe superior returns are achieved through patient ownership of enduring businesses acquired at attractive valuations. We seek partners who share the view that risk is defined by the price paid—and that compelling opportunities often emerge when others are forced or irrational sellers.

Portfolio Manager

Philip Berkman is the Founder and Managing Member of Aventine Capital Management. From 2016 to 2025, he was a Senior Analyst and Partner at Kinney Asset Management in Chicago, investing in global small- and mid-cap equities.

Previously, he was a member of the investment teams at The Xander Group in Singapore and the Penn Office of Investments in Philadelphia. He began his career at Marshall Wace in London in 2008.

He holds an MBA from Harvard Business School, an M.Sc. in Economic & Social History from Balliol College, Oxford, and a B.A. in History from the University of Pennsylvania.

Letters to Partners

Quarterly Commentary

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