Evidence before intuition
Every assumption is documented and every sensitivity is modeled. The investor never receives a recommendation without its supporting evidence.
Method
The same rigor on every transaction
Every opportunity travels the same governance path before it reaches a verified investor. Discipline is the process, not the exception.
Capital backed by evidence, not promises
A committee that can say no
The committee exists to reject, approve, or approve with conditions, and every decision is on the record.
Transparency in reporting
LPs see the state of their capital continuously, with the evidence behind each figure.
See how we bring this discipline to analysis:evidence before narrative.
Our process
What we review before a transaction exists for an investor
Every opportunity goes through the same examination, in the same order, under the same format. It is not a matter of taste: it is a checklist with an owner and a cut-off date.
The sponsor
Before the asset, we assess whoever will execute it: track record in comparable transactions, alignment of incentives, and integrity. Volume of experience matters less than evidence of having taken a transaction full cycle.
- Track record in the same type of transaction, not just the same sector
- Alignment: how much of their own capital they commit, and in what priority
- Reporting history: whether they reported well when things went badly
The asset
We review the asset against what the plan says, not against what the deck says. Technical support, legal standing and market comparables are corroborated with source and cut-off date.
- Technical and legal documentation issued by the competent counterparty
- Market comparables that do not depend on the originator’s narrative
- Location: what sustains demand, and what would put it at risk
The business plan
The plan belongs to the sponsor; the examination is ours. Each assumption is classified as observable today, estimable within a defensible range, or a narrative bet dressed up as a number — and we say which is which.
- Key assumptions corroborated against primary sources
- Capital structure: debt terms, priority and reserves
- Fees and compensation, and whether they are transparently disclosed
- Horizon and exit strategy under adverse scenarios
Information for the investor
A decision that depends on a document nobody has read is not a decision. We close the process by ensuring the investor receives what the committee assessed, in the same structure across every transaction.
- Legal documents with conflicts of interest disclosed
- A uniform format: the same structure across all opportunities
- Committee memo with the thesis, the risks and the assumptions behind it
The scope of the review adapts to the type of transaction and the jurisdiction; where an element does not apply, it is declared in the record rather than omitted.