Inside the Special Investments Strategy of the Majedie Investment Trust | Arjun Menon Interview

In this episode, we're diving deeper into the Majedie Investment Trust, with a special focus on a unique part of the portfolio — special investments.

Joining us is Arjun Menon from Marylebone Partners, the trust’s investment advisor. Arjun breaks down what special investments are, how they’re sourced, and why they play a crucial role in delivering high-conviction, high-return opportunities — all while maintaining the trust’s commitment to liquidity and risk management.

We’ll also hear about two real-world examples from the portfolio:
📈 An activist play in US restaurant chain Portillo’s,
💼 And a credit-focused opportunity involving Metro Bank’s bonds.

Whether you're an experienced investor or just curious about how institutional-grade deals are put together, this episode offers valuable insights into how a blend of external managers, direct equities, and special investments creates a truly distinctive strategy.

👉 If you missed our earlier episode introducing the Majedie Investment Trust, make sure to check that out too —    • Fund Manager Dan Higgins explains his appr...  . But for now, stay tuned as we unpack a side of investing you don’t hear about every day.

🔔 Don’t forget to like, subscribe, and check out our previous episode on the broader Majedie portfolio for more context.

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00:00 Intro to Majedie Investment Trust
02:47 What is a Special Investment?
04:43 Criteria for selecting a new investment
05:17 Activist campaigns: Portillo's
09:34 Metro Bank bond investment
14:01 What asset classes do you invest in?
14:34 Network is everything
15:33 Staying on top of liquidity
17:45 Can these investments be accessed by retail investors?
19:22 How unique is the Majedie trust's portfolio?