XYSTON Capital Management LP (“XYSTON”) is an New York-based, founder-led alternative investment manager focused on high-conviction investments across real estate and real assets. XYSTON invests across both public and private markets employing a cross-asset, cross-capital structure approach, pursuing the most compelling risk-reward opportunities regardless of asset class, liquidity profile, or capital position.
XYSTON’s investment strategy is grounded in asymmetric opportunity selection—targeting situations with multiple ways to win and strong downside protection. This disciplined approach is complemented by a value investing philosophy, emphasizing the acquisition of assets and securities at substantial discounts to conservatively estimated intrinsic value.
Through intensive fundamental research and a bottom-up portfolio construction process, XYSTON identifies mispriced risk, structures investments with embedded protection, and sizes positions for asymmetric return potential. The firm’s proprietary sourcing network and deep operating partner relationships enable access to off-market, off-mandate, and undercapitalized areas of the market often overlooked by traditional managers.
The xyston (pronounced ZIS-ton) was the long spear wielded by Alexander the Great and his Macedonian cavalry during his conquests from 356–323 BCE.
Its dual spearheads allowed for both offensive and defensive strikes, while also providing a margin of safety in case one end broke during battle.
Beyond Alexander’s legendary leadership, the xyston embodies the core philosophy that defines how we invest. We emphasize defense through rigorous downside protection and capital preservation, while simultaneously driving offense by pursuing growth, performance, and value creation across our investments.
This “dual-spear” mindset—defense and offense—serves as the foundation of XYSTON’s approach to capital allocation, risk management, and long-term value creation.