One method, applied without exception
Our performance does not come from a superior ability to forecast markets, but from a disciplined process applied identically in Geneva, Abidjan and Singapore.
Independent capital
Returns reward structuring, not boldness
We start from the premise that the markets we operate in offer genuine risk premia — but that those premia are only captured by investors able to master execution, governance and exit.
So we look less for the highest-yielding asset than for the soundest combination: a quality asset, a competent and aligned operator, a protective legal structure and a realistic timetable.
That approach leads us to turn down the vast majority of the files we review. It is a feature of the model, not a flaw.
What we look for
Ticket size
5 to 40 million per transaction, in equity or quasi-equity, with co-investment capacity beyond that.
Position
A meaningful stake — majority or qualified minority — with clear governance rights.
Horizon
Seven to twelve years, with exit mechanisms identified from the moment we invest.
Geography
Switzerland, the European Union, North, West, Central and Southern Africa, the Gulf and South-East Asia.
Maturity
Operating assets, repositioning situations or advanced developments. We do not invest at seed stage.
Partner
An operator with a verifiable track record, willing to commit their own capital alongside ours.
From origination to exit
- 01
Origination
Files come from our regional platforms, our banking network and our co-investors. A first filter eliminates out-of-mandate transactions in under two weeks.
- 02
Preliminary analysis
Financial modelling, country and counterparty risk mapping, review of the ownership structure and a first site visit.
- 03
Due diligence
Financial, legal, tax, technical and ESG audits carried out by independent firms, complemented by our own fieldwork.
- 04
Structuring
Negotiation of the shareholders' agreement, security package, reserved matters, anti-dilution mechanisms and exit routes.
- 05
Decision
Presentation to the investment committee, which rules by qualified majority. An adverse opinion from the risk committee is blocking.
- 06
Stewardship
Board representation, monthly reporting, quarterly budget reviews and an annual ESG rating throughout the holding period.
- 07
Exit
Trade sale, management buy-out, refinancing or listing, whichever scenario is most favourable at the chosen moment.
What we refuse to do
Invest without oversight
No holding is taken without a board seat or a contractually guaranteed equivalent information right.
Concentrate exposure
No single country may represent more than a fifth of the portfolio, and no single asset more than a tenth.
Ignore currency risk
Cash flows are hedged, or matched to hard-currency revenues where local market depth does not allow hedging.
Compromise on compliance
Every counterparty undergoes KYC screening and ultimate beneficial owner verification. An unresolved doubt ends the discussion.
Let's discuss your next transaction
Our Geneva teams work alongside institutional investors, family offices and industrial partners across all of our markets.