Kituwah, LLC discusses investment and acquisitions strategy
Kituwah, LLC discusses their Investment and Acquisitions Strategies. “One of the first formal actions the Kituwah, LLC Board took was to develop guiding principles and documents to benchmark and analyze investment and business decisions,” said Mark Hubble, Kituwah, LLC chief executive officer.
The Investment Policy outlines the fiduciary responsibility of both the Board as well as the Chief Executive Officer and also clarifies the types of investment vehicles that can be used as well as percentage ranges for each investment type.
For example, investment equities have an investment range of 10 percent to 45 percent of the overall portfolio and must consist of high-quality securities traded on the New York, NASDAQ or American Stock Exchange.
Kituwah, LLC also developed guidelines for acquiring business that include minimum qualifications such as:
- Kituwah, LLC typically avoids start-ups
- A preference for a minimum of three years of profitable operating history
- The business must have accurate recordkeeping so that we can conduct thorough due diligence
- Kituwah, LLC will typically need tax records to provide an independent assessment of revenues and expenses
- The Company generally seeks independent appraisals on real estate purchases,
Both the Investment Policy and Acquisition Guidelines are much more extensive and provide structure when making business decisions. As Adam West, vice chair of the Kituwah Economic Development stated, “Our primary goals revolve around risk management, reasonable returns, and steady, predictable growth.”
In addition to the Investment and Acquisitions policies, the Kituwah LLC Board recently adopted an updated Conflict of Interest Policy and has instituted internal auditing. Sam Owl, secretary and treasurer of the Kituwah Economic Development Board added, “We provide a general financial discussion with Tribal Council on a quarterly basis and provide full audited financials on an annual basis. These audited financial statements are then integrated into the Tribe’s financial statements.”
Chrissy Arch, Chair of the KEDB stated, “Our goal is increased transparency and less confusion. In the coming months, we’ll be sharing more of our business strategy with the community and discussing our major acquisitions in-depth.”
Established in 2018, Kituwah, LLC is an economic development enterprise wholly-owned by the Eastern Band of Cherokee Indians (EBCI). Kituwah, LLC is dedicated to creating an innovative future. Their Mission is “To create or acquire profitable businesses and investments that provide substantial opportunities for the members of the Eastern Band of Cherokee Indians.”