The group
One group, three functions.
Delta Investment Group is three companies kept apart on purpose, so that each can be run, measured, and reasoned about on its own.
Reserves, the book, and management are different jobs with different risks. Mixing them hides which one is responsible for a result. Keeping them apart keeps each accountable to a single question.
The group invests its own capital. It takes no outside capital, and it does not offer investment services to anyone.
Holdings
Reserves
Holds the group's reserves and its ownership of the other companies, apart from the book.
Vantage
The book
Keeps the book. The group's own capital is invested here by measurement, and nothing else happens here.
Partners
Management
Handles management and administration, the agreements and the work of running the group, apart from the assets they concern.