Baillie Gifford is a 108-year-old, Edinburgh-based, unlimited liability investment partnership, which makes long-term investments in equities on behalf of its clients. In this research note, two Partners of Baillie Gifford, Tim Garratt and Kathrin Hamilton discuss their view of what constitutes patient capital, highlight institutional barriers to its perpetuation and offer some possible remedies. It is by design a subjective practitioner’s view.

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