A concentrated public-equity fund
Great businesses,
at a rare inflection.
Terton invests in exceptional companies across Asia's reforming markets, led by Korea — held for their quality, bought at a discount, and owned through a generational re-rating.
Built for a singular opportunity.
Terton is a concentrated public-equity fund founded by Ryan Albert. We invest in a small number of exceptional, competitively advantaged businesses in Asia — with a primary focus on Korea — where a wave of corporate reform is beginning to close some of the widest valuation gaps in global markets.
We buy companies we would be proud to own for their quality alone, and hold them patiently as that value is recognized. The founder's own capital leads the fund — our interests and our partners' are one and the same.
Korea, at the steepest part of the curve.
Japan spent a decade rewriting the rules of shareholder value. Korea is compressing that same reform into a far shorter window — and almost no one is underwriting it yet.
The inattention to these reforms is the opportunity.
Quality first. The rest is the free option.
We underwrite the business before anything else — a company we would be glad to own on its fundamentals alone, bought at a genuine discount to what it is worth.
Ryan Albert, Founder.
Ryan Albert
Ryan founded Terton after a decade investing and living across Asia and Latin America. He worked directly for Todd Combs at Berkshire Hathaway, underwriting a $15B-plus book of public equities, and was a partner at Brizo Capital. He studied at Princeton (cum laude) and Columbia Business School's Value Investing Program, where he now teaches the Compounder Class.