Cascade Investment, L.L.C. is a private investment firm and single-family office that serves as the primary investment vehicle for Bill Gates. Headquartered in Kirkland, Washington, and founded in the mid-1990s, the firm is organized as a single-member LLC owned by Gates and managed day-to-day by Michael Larson. Cascade pursues a diversified program spanning public equities and fixed income alongside private opportunities, with a meaningful real estate allocation that includes hospitality exposure (notably Four Seasons Hotels & Resorts), plus investments in energy, infrastructure, agriculture and select private co-investments. The office executes direct equity investments, concentrated commitments to external funds, and co-investments. Its governance as a single-member LLC combined with a long-tenured manager and a track record of concentrated, meaningful commitments gives counterparties a centralized decision-maker and a history of deploying concentrated capital positions.