Founded in 1998 by Andrew Brenton, Jeffrey Cole, and Jeffrey Hebel, who have worked together continuously for over 25 years and previously established the private equity subsidiary of The Bank of Nova Scotia. The three founders have invested substantially all of their liquid net worth in Turtle Creek funds, creating strong alignment with client interests. The firm has grown from 5 to 11 investment professionals over six years and now comprises 12 investment team members with 16 additional employees across Investments, Relationship Management, Compliance and Investor Relations, and Finance and Operations teams. The founders bring cumulative experience of over 50 years in investment management and have developed a repeatable, teachable investment approach.

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Turtle Creek employs 'A different kind of value investing' approach centered on Business Value measurement, defined as their best estimate of the present value of a company's future cash flows. The firm utilizes Continuous Portfolio Optimization (CPO) where cheaper companies receive higher allocations and expensive companies receive lower allocations, not to increase returns but to reduce risk. They maintain a concentrated portfolio of approximately 25 public companies with top 10 holdings typically representing over 50% of the portfolio. The firm advocates 100% equity allocation for long-term investors and focuses on North American mid-cap companies ($1-$25 billion market cap) while excluding resource sectors. Their investment process emphasizes qualitative research over quantitative screens, targeting highly intelligent companies led by skilled management teams with rational ambitions.

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