Capital structuring & private placement
Senior-secured, unitranche, holdco PIK, and convertible bridge for operators with a real asset, a regulator, and a ten-year horizon.
A Private Capital Advisory · MMXXVI
Capital that is placed,
not marketed.
- Founded
- 1987
- Capital advised
- €148B
- Live mandates
- 34
- Median hold
- 11y
Four practices.
One balance sheet of judgement.
We do not run a coverage banking matrix. Every mandate is staffed by a named partner and a small senior team that follows the asset through its full life — placement, restructuring, and exit.
Energy transition & grid infrastructure
From interconnect queues to balance-sheet ringfencing. We move regulated capital into the assets that decarbonise the next decade.
Digital rail, fibre, and IX capital
Long-haul fibre consortia, neutral IX platforms, and the patient equity that lets them compound through the build.
Strategic advisory for dual-use industrials
Defence-adjacent manufacturing, classified supply chains, and the unusual blend of public and private capital they require.
The right counterparty is a function of the asset, not of the cycle.
Capital has a temperament. So does infrastructure. We were founded in 1987 to be the intermediary that refuses to let the second impersonate the first — to translate the regulatory language of an electricity regulator into the underwriting language of a pension trustee, without losing anything in the pass-through.
We are deliberately small. Twenty-eight partners. No trainees. No coverage grids. A new mandate begins with a partner reading the permit, the tariff, and the engineering report — in that order — before the model is opened.
Helene Auriol
Managing Partner · Founding family
A quiet book.
Twenty-one mandates closed in the last eighteen months. Below, a representative selection across our four practices. Full transaction list available under NDA.
| Sector / Asset | Role | Value | Year |
|---|---|---|---|
| Caledonia Grid, UK regulated T&D operator |
Sole financial advisor | £4.20B | 2025 |
| Northwind Fibre III, NO/SE/DK subsea + terrestrial consortium |
Private placement | €1.85B | 2025 |
| Aldermast Storage, AU utility-scale battery operator |
Unitranche lead | A$620M | 2025 |
| Helion Forge, FR dual-use precision components |
Strategic advisor | €480M | 2024 |
| Thalassa IX, NL neutral IX platform |
Growth equity | €310M | 2024 |
| Beacon Rail Holdings, UK freight wagon lessor |
Restructuring advisor | £720M | 2024 |
| Aggregate of full live book exceeds €14.6B — disclosure under mandate. | |||
The twenty-eight who will read your permit.
A partner is the first call, the drafter, the modeler, and the closer. No team is staffed with junior intermediaries.
HA
Helene Auriol
Managing Partner · LondonEnergy transition & regulated T&D. Former Ofgem panel economist.
32 yrs · since 1994
TC
Tobias Chandra
Partner · New YorkDigital infrastructure & private credit. Ex-KKR infra, MIT Sloan.
21 yrs · since 2005
MA
Mariam Al-Khoury
Partner · Abu DhabiSovereign & dual-use industrial. Royal Institute of International Affairs.
18 yrs · since 2008
JV
Jørgen Valgren
Partner · StockholmNordic fibre & subsea. Board, NORDUnet. EFTA arbitration counsel.
26 yrs · since 2000
SO
Saoirse O'Connell
Partner · DublinRestructuring & special situations. Former examiner, Irish High Court.
24 yrs · since 2002
RD
Renata Dohmen
Partner · FrankfurtHY private placement, EUR SSA. BaFin-registered. Goethe & Wharton.
19 yrs · since 2007
KN
Kenji Nishida
Partner · SingaporeAPAC power & grid. METI secondment 2014. JPX-listed board observer.
22 yrs · since 2004
EV
Elena Vasquez
Partner · MadridIberian infrastructure & concessions. CNMC adviser since 2018.
17 yrs · since 2009
A new mandate begins with a call.
We respond within one business day. If a partner is appropriate for your matter we will say so on the first contact; if not, we will name two firms better suited.