Opera was founded in 2020 and seeks outperformance through specialist access to European emerging managers in small-cap markets with operational strategies. Small-cap private equity is inefficient with a growing need for institutional capital. Opera backs emerging manager strategies requiring specialist domain expertise including buy-and-build and hands-on growth where transactional, operational and strategic levers combine to create value. Opera is backed by a consortium of institutional investors, including US and European pension funds endowments and family offices and are currently investing Opera fund I.