Pacolet Milliken is a family-owned investment company with a multi-generational investment horizon. Its long-term economic goals are to increase the intrinsic value of its business, while meeting the dividend expectations of its shareholders.
Pacolet operates through two divisions: Real Estate and Energy/Infrastructure. We manage these two divisions holistically, balancing non-cash value creation and near-term cash flows, stabilized assets and development projects, and organic growth and acquisitive growth, all in a manner designed to meet shareholder objectives.
We embrace our shareholders’ mandate to operate at the intersection of profitability and values. Pacolet is not merely a financial enterprise, but also a vehicle through which shareholder values are expressed in business strategies that improve the communities and world in which we live. We endorse the notion that how we make money, is as important as how much money we make.
We own both operating companies and project investments. We look for defensible, middle market niches within compelling trends, such as capital inflows into renewables. We invest with institutional discipline, but are more patient about achieving superior returns than rigid IRR investors (who may seek to monetize gains as soon as possible), and thus may hold our assets longer than investors with rigid exit requirements.
Energy & Infrastructure
Our Energy & Infrastructure Division has been opportunistic in its evolution and operates through three primary segments: Regulated Utilities, Renewable Energy and Infrastructure / Industrial Services. In these investments, we seek long-term contracted revenue streams, creditworthy counter-parties, highly-regulated monopolistic positions, reasonable operating risk, scalability, and the ability to drive upside by strong management.
Our Real Estate Division is disciplined in its approach to investing, and bases its investment strategy on long term trends in which we have niche competencies. These include urban infill multifamily properties in highly-educated sub-markets of “tier one” cities in the East / Southeast, opportunistic Class A office buildings in hard to duplicate locations, and a merchant-build industrial warehouse program that sits at the intersection of the e-commerce/retail battle.