How Do Assessments Pay Off?

Jim Bland: “The payoff is very big for HCP. What the assessments also help us to understand is whether we have an executive who will work out in the future. We are very time-based in our investments so getting the right executive in at the right time, which is typically at the beginning of the investment, is so crucial.

“One example is where we had the executive who had come with the deal. We had the executive assessed as part of the due diligence process. Leslie was very straightforward in predicting that the executive would likely not be a long-term fit for HCP. Given that feedback, we proactively sought out a manager to have waiting in the wings. And just true to form with the analysis that Leslie delivered, approximately one year after the investment we made a decision to move on from that CEO, and it was very important to our investment because we had an individual who could step in almost immediately and begin to take the business forward."