19+ years of advisory. Secondary liquidity, primary capital raises, share option loans and project finance for private companies. London · Dubai · Istanbul.
Experts in financial consulting — since 2007
From bespoke liquidity programmes and primary capital raises to the commissioning and funding of solar, wind and hydro projects across Europe — delivered with 80+ institutional partners worldwide.
Advisory mandate
Private Shares is a financial consultancy — we are not a licensed bank, broker-dealer or arranger. Each mandate is executed in partnership with the regulated banks, ECAs, bookrunners and lenders best suited to the deal, with our team leading origination, structuring, coordination and client representation end-to-end.
19+
Years of advisory
80+
Institutional partners
50+
Specialists worldwide
3
Global offices
Services
Eight practice areas, one continuous mandate: to unlock private capital, finance real assets and build the corporate, banking and energy infrastructure that supports them — for the people building both.
View case study
Custom programmes that allow shareholders, employees and early investors to realise value from private holdings — without disrupting the cap table.
Tender offers
Structured secondaries
Continuation vehicles
End-to-end execution of growth and pre-IPO capital rounds, sourced through our global network of 80+ institutional partners.
Series B → Pre-IPO
Strategic investors
International syndication
Bespoke loan facilities collateralised by private equity holdings — unlocking liquidity while preserving long-term upside.
Non-recourse structures
Founder & exec liquidity
Cross-border facilities
Commissioning and funding of utility-scale solar, wind and hydro projects across Europe — from greenfield development through to grid connection and long-term financing.
Solar · Wind · Hydro
Project finance & PPAs
Greenfield to operational
Structured financing for shipping vessels, aircraft, superyachts and business jets — acquisition, refinancing, sale-and-leaseback and operating leases through specialist maritime, aviation and yacht lenders.
Tankers · Bulkers · Container
Company aircraft & business jets
Superyacht & yacht finance
Trusted introductions to private, corporate and offshore banks across our global network — opening accounts and credit relationships in the right jurisdictions for clients, funds and corporates.
Private & corporate accounts
Multi-jurisdiction banking
Tier-1 institutional relationships
End-to-end incorporation and structuring services across leading onshore and offshore jurisdictions — including registered office, directors, compliance and ongoing administration.
UK · EU · UAE · Offshore
Holding & SPV structures
Substance, compliance & admin
A consulting partnership that helps you become highly investible — from governance and reporting to investor narrative.
Capital strategy
Investor relations
Deal architecture
Energy Projects · Europe
We commission and finance utility-scale solar, wind and hydro projects across Europe — partnering with developers, sponsors and institutional lenders to move assets from concept to grid.
Utility-scale PV and hybrid solar parks — from site origination and permitting to EPC selection and long-term financing.
Onshore and selected offshore wind developments, structured with institutional capital and bankable PPAs.
Run-of-river and small-to-mid scale hydro assets — re-powering, refinancing and greenfield commissioning.
Geography
EU-wide · UK · Balkans · Türkiye
Ticket size
€20m – €500m+
Stage
Greenfield → Operational
Capital
Equity · Debt · Mezzanine · PPA
Maritime, Aviation & Yacht Finance
We arrange and structure capital for shipping vessels, commercial and company aircraft, business jets and superyachts — from a single asset acquisition to fleet-wide refinancing — connecting owners, corporates and family offices with specialist maritime banks, aviation lessors and yacht finance desks. Company aircraft and yacht purchases are financed at up to 60–70% loan-to-value, from USD 5m upwards.
PDF · 1pp
Acquisition, refinancing and sale-and-leaseback structures for tankers, bulkers, container and specialised vessels — supporting owners, operators and charterers worldwide.
Financing for corporate jets and company aircraft — Gulfstream, Bombardier Global, Dassault Falcon and Embraer Praetor — plus pre-delivery payment lines, operating leases and asset-backed facilities for commercial fleets.
Purchase and refinance facilities for new-build and pre-owned yachts from 24m to 100m+ — Benetti, Sanlorenzo, Feadship, Lürssen and Azimut — including charter-backed and shipyard-stage financing.
End-to-end advisory across the asset lifecycle — from technical due diligence and valuation to registration, structuring and remarketing.
Selected Transactions
Structure
Timeline
Outcome
Origination
Diligence
Structuring
Execution
Outcome
Post-close
Capital deployed, asset performing, mandate extended.
Shipping · Sale & Leaseback
European tanker operator · 2-vessel fleet
Asset
2× Suezmax crude tankers (built 2018)
Facility
$112m sale-and-leaseback, 7-year tenor
Counterparty
Asian leasing house + EU maritime bank
Pricing
SOFR + 285bps, fixed-rate swap overlay
Security
First-priority mortgages, assignment of earnings
Wk 1–3
Mandate, KYC and indicative term sheet
Wk 4–8
Vessel valuation, technical & legal DD
Wk 9–12
Credit approval and syndication
Wk 13–16
Documentation, drawdown and vessel transfer
Released $34m of trapped equity, lowered the blended cost of capital by ~180bps and extended the operator's debt maturity profile — funding two further second-hand acquisitions within 12 months.
Aviation · PDP & JOLCO
Mid-size European carrier · 6-aircraft order
Asset
6× A320neo, staggered 2025–2026 delivery
Facility
$420m — PDP bridge + JOLCO take-out
Counterparty
Japanese equity arranger + commercial bank syndicate
Pricing
PDP: SOFR + 240bps · JOLCO: 12-yr fixed
Security
Aircraft mortgage, IDERA, lessee guarantee
Mo 0–2
Lender selection, term-sheet negotiation
Mo 3–5
PDP facility closing, first drawdown
Mo 6–18
Staggered PDP draws across 6 airframes
Mo 18–24
JOLCO take-out at each delivery
Bridged 18 months of pre-delivery payments, secured tax-efficient long-term lease financing and delivered ~120bps of all-in cost savings versus the carrier's existing aircraft facility.
Yacht · Superyacht Finance
GCC family office · 58m new-build
Asset
58m custom superyacht (Italian yard, 2026 delivery)
Facility
EUR 24.7m senior loan, 65% LTV, 10-year tenor
Counterparty
European private bank + yacht finance desk
Pricing
EURIBOR + 250bps, 40% balloon
Security
Cayman-registered mortgage, charter earnings assignment
Wk 1–2
Ownership structure, KYC and lender shortlist
Wk 3–5
Yard contract review, valuation and insurance package
Wk 6–8
Credit approval and stage-payment schedule
Wk 9–11
Documentation, registration and first drawdown
Financed 65% of the build price across shipyard stage payments, preserving family-office liquidity and allowing charter income to service the facility from delivery.
Business Jet · Company Aircraft
European industrial group · Gulfstream G650ER
Asset
Gulfstream G650ER (pre-owned, 2021 airframe)
Facility
USD 32.2m term loan, 70% LTV, 8-year tenor
Counterparty
Aviation lending desk of a Tier-1 European bank
Pricing
SOFR + 225bps, 12-year amortisation profile
Security
Aircraft mortgage, IDERA, corporate guarantee
Wk 1–2
Ownership SPV, registry selection and lender approach
Wk 3–4
Pre-purchase inspection, appraisal and tax review
Wk 5–7
Credit approval and facility documentation
Wk 8–9
Escrow closing, registration and delivery
Closed in nine weeks with 70% debt against appraised value, keeping the aircraft off the group's operating cashflow and structured for VAT-efficient EU operation.
Representative transactions. Details anonymised to preserve client confidentiality.
Asset classes
Vessels · Aircraft · Business jets · Yachts
Ticket size
$5m – $750m+
Structures
Senior debt · Lease · JOLCO · Mezzanine
Geography
Europe · Middle East · Asia · Americas
ECA Financing
We structure cross-border capex and supply contracts with cover from the world's leading export credit agencies — most actively UKEF (United Kingdom) and Euler Hermes (Germany). ECA-backed financing unlocks 10–18 year tenors, fixed or floating pricing and senior debt where commercial banks alone cannot reach.
UKEF
United Kingdom
The UK's official export credit agency. We work with UKEF's Buyer Credit, Direct Lending and General Export Facility programmes to fund overseas buyers of UK goods and services — from energy and infrastructure to healthcare and defence supply chains.
Buyer Credit Facility
Direct Lending (up to GBP 8bn pool)
General Export Facility
Bond Support & Working Capital
Euler Hermes
Germany
Germany's federal export credit guarantee scheme, administered by Allianz Trade on behalf of the Bundesregierung. We arrange Hermes-covered buyer credits for procurement from German exporters — particularly capital equipment, EPC contracts and industrial plant.
Hermes-Deckung (Buyer Credit)
Supplier Credit Cover
Manufacturing Risk Cover
Tied & Untied Loan Guarantees
Why borrowers use ECA cover
10–18 year repayment profiles aligned to asset life — far beyond commercial bank appetite.
Sovereign-backed risk weighting unlocks tighter spreads and access to fixed-rate CIRR pricing.
Single-deal capacity from USD 25M to USD 1bn+, with multi-bank syndication.
Cover available where commercial lenders alone will not underwrite country or counterparty risk.
Sectors we cover
Energy & renewables
Infrastructure & transport
Maritime & aviation
Healthcare & pharma
Industrial plant & EPC
Defence supply chain
Eligibility
Confirm UK or German content thresholds and exporter status against the relevant ECA programme.
Structuring
Design the buyer credit, premium financing and commercial tranche — sized to project cashflows.
Approval
Co-ordinate ECA underwriting alongside lender credit and political-risk approvals in parallel.
Drawdown
Manage documentation, conditions precedent and milestone-based disbursement to the exporter.
PDF · A4
Eurobond Issuance
We arrange Reg S and 144A USD- and EUR-denominated Eurobond issuance for corporates, financial institutions and sovereigns — covering issuer preparation, ratings strategy, documentation, marketing and pricing through to listing on the Irish Stock Exchange (Euronext Dublin), Luxembourg or London.
Typical mandate profile
USD 200M – 1.5B
Benchmark issue size
3 – 10 yr
Tenor range
Reg S / 144A
Distribution format
Dublin · Lux · LSE
Primary listings
What we deliver
Rating-agency engagement, IFRS reconciliation, governance review and credit story development — building a credible inaugural or repeat issuer profile.
EMTN programme establishment or stand-alone bond documentation, prospectus, listing on Euronext Dublin, Luxembourg or LSE, plus paying-agency and clearing setup.
Joint lead manager selection, fixed-income investor targeting across EMEA, Asia and US QIBs, roadshow execution and order-book management to optimal pricing.
Tenders, exchanges and consent solicitations to refinance existing debt, extend duration or smooth maturity profiles ahead of refinancing windows.
Formats we cover
Senior unsecured
Senior secured
Subordinated / Tier 2
AT1 / hybrid capital
Sukuk (Reg S)
Green & sustainability-linked
Distribution reach
EMEA real-money funds
Asian private banks & insurers
US QIBs (144A)
GCC sovereign & quasi-sovereign
Turkish & CEE institutional
Recent issuance
Inaugural · Reg S
Turkish industrial conglomerate
USD 500M · 5-year senior unsecured
3.2× oversubscribed; priced 25 bps inside IPT
Repeat · 144A / Reg S
GCC sovereign-linked utility
USD 750M · 10-year green bond
USD 4.1B order book; flat-to-curve pricing
Liability management
European financial institution
EUR 600M tender + new 7-year
78% take-up; weighted maturity extended 4.2 yrs
Trade & Supply Chain Finance
Through our Channel Finance Partner — a global ports, terminals and logistics group with its own regulated trade finance platform — Private Shares arranges working capital facilities of USD 1 million to USD 35 million for importers, exporters, manufacturers, distributors, commodity traders and logistics operators.
Most trading companies do not fail because they cannot sell; they stall because the cash arrives too late. Suppliers want payment at shipment, buyers want 60, 90 or 120 days, and traditional bank lines are capped against balance-sheet size and property collateral rather than the value of the trade itself. Our Channel Finance Partner lends against the trade flow — the confirmed order, the invoice, the bill of lading, the goods in the warehouse — using its own visibility of the shipment to control risk. As an appointed channel partner, Private Shares presents each client directly with a structured credit file and a named sponsor.
Facility size
USD 1m – 35m
Advance rate
Up to c. 80–90% of invoice value
Security
Receivables, trade documents or goods — not property
First drawdown
Typically 4–6 weeks
The product suite
Up to c. 80–90% of a delivered invoice advanced now; the balance follows when your customer pays. Your customer keeps paying you as normal.
The same advance, with the receivable formally sold and collections managed for you.
The risk of your customer not paying passes to the funder rather than staying with you — useful for new markets or new buyers.
Your suppliers are paid early by the platform; you repay later on extended terms, with the balance sheet kept clean.
Cash released against a confirmed purchase order so raw material can be bought and the order produced.
Funding from the moment the cargo leaves until the buyer settles — built for long sea legs.
Stock in an approved warehouse becomes collateral; you draw against its value while it waits to be sold.
Freight, port, customs and forwarding costs financed and repaid later, including the receivables and payables of the logistics company itself.
A working capital line that can be drawn, repaid and redrawn as your trade cycle turns.
One facility covering an anchor buyer and its supplier network, so the whole chain is funded at the buyer's cost of money.
How it works in practice
A ceramics manufacturer ships EUR 2.0m of tiles a month on 90-day terms, leaving EUR 6.0m permanently tied up in receivables. Under a USD 8m invoice discounting facility, 85% of each invoice — around EUR 1.7m a month — is advanced within days of shipment against the invoice and bill of lading.
A food importer buys USD 1.2m per shipment from Asia against documents while the supermarket chain pays at 120 days. Trade payables finance pays the supplier at sight and the importer repays 120 days later — no overdraft required.
A machinery producer wins a USD 4.5m export order needing USD 2.8m of steel first. Pre-shipment finance releases funds against the confirmed order, then rolls into post-shipment finance and is repaid from the buyer's payment.
A metals trader holding USD 9m of bonded inventory draws roughly USD 6m against its value, keeps trading instead of selling into a weak market, and repays as the stock is released.
A USD 300m-turnover group with 40 suppliers uses a USD 25m supply chain finance programme so each approved supplier is paid early at the group's credit cost, while the group settles on its own extended terms.
Logistics and finance in one solution
Our Channel Finance Partner is a logistics group first and a financier second. Where a client wishes, ocean and inland freight, port and terminal handling, customs clearance, warehousing and distribution can be arranged by the same network that provides the funding — so the funder sees the cargo move in real time, approvals are faster, and freight and duty can be financed inside the facility rather than paid in cash.
Who qualifies
Company type
Importers, exporters, manufacturers, distributors, commodity traders, freight forwarders and logistics operators
Track record
Minimum three years of trading, profitable, with an established and documented trade flow
Facility range
USD 1,000,000 to USD 35,000,000
Security
Primarily the underlying receivables, trade documents or goods; corporate guarantees may be requested. Property collateral is not the starting point
Counterparties
Buyers and suppliers are assessed as part of the credit review — the quality of the trade partners materially improves pricing
Documentation
Audited accounts (at least three years), management accounts, sample invoices and bills of lading, list of main buyers and suppliers, existing facility summary, KYC on the company and its beneficial owners
Process and indicative timeline
Discussion
Confidential review of the trade flow, ticket sizes, terms and funding need with Private Shares.
2–3 days
Structuring
We select the right facility mix and prepare the credit file.
3–5 days
Submission
File presented to the Channel Finance Partner under our channel partnership.
1–2 days
Onboarding
Digital KYC and platform registration.
3–5 days
Underwriting & term sheet
Credit review, indicative pricing and limits issued.
2–3 weeks
Documentation
Facility agreement, assignments and operational set-up.
1–2 weeks
First drawdown
Invoices and shipping documents uploaded; funds released to the client's account.
Days per submission
Pricing principles
Pricing is set by the funding platform transaction by transaction and driven by four factors: the credit quality of the paying counterparty, the tenor of the receivable or payable, the currency, and whether the risk is taken with or without recourse. Facilities are normally priced as a margin over the relevant reference rate (SOFR, EURIBOR or equivalent) plus a facility fee. There is no cost to explore the programme, and our advisory fee is agreed in writing in advance and payable only on a successful outcome.
PDF · 5 pages
PrivateShares-Trade-Supply-Chain-Finance-Programme.pdf
Trade Finance Desk
TradeFinance@privateshares.com
For information only. Not an offer of finance, a commitment to lend or investment advice. All facilities, limits, pricing and terms are indicative and subject to the funding platform's credit approval, KYC procedures and final documentation.
The approach
We start with the company, the cap table and the people. Every mandate begins with deep diagnostic — never a template.
Our team — entrepreneurs with finance and engineering backgrounds — designs structures that fit your stage, jurisdiction and ambitions.
We bring the right institutional partners to the table and run the process end-to-end with discretion and pace.
Beyond the transaction, we help you mature into a highly investible enterprise — ready for the next round, exit or listing.
Case Studies
A representative cross-section of recent engagements — anonymised to protect client confidentiality. Each illustrates how we structure capital, finance assets and execute across jurisdictions.
Client identities withheld under NDA
Sector
Geography
Ticket size
Outcome
Secondary Liquidity
Series D enterprise software platform · 2,400 employee shareholders
Financial technology
United Kingdom · Netherlands
USD 180M
Fully subscribed; cap table preserved
Late-stage founders, employees and early angels were locked into a long path to IPO. The board needed a recurring liquidity mechanism that wouldn't dilute new investors or reset the 409A.
We designed a single-price tender offer backed by two existing growth funds and one new sovereign LP. Eligibility tiers, pro-rata allocation and a price-discovery process were defined with the company and counsel.
USD 180M cleared at a 12% premium to the last primary round. 87% participation among eligible holders; structure adopted as an annual programme.
secondary-liquidity-usd-180m-tender-offer-for-a-european-fintech.pdf
Primary Capital Raises
Industrial decarbonisation platform · 4 European markets
Climate technology
Germany · Nordics
EUR 95M
Oversubscribed by 1.6×
Sponsor needed institutional growth capital after exhausting venture syndicates, with strict valuation discipline and a 14-week runway to closing.
We assembled a syndicate of two strategic corporates, one infrastructure fund and one Gulf sovereign — running parallel diligence streams and a confidential auction process.
Closed at EUR 95M with a strategic anchor, 1.6× oversubscribed. Term sheet improved by 80 bps versus initial offers.
primary-capital-raises-eur-95m-series-c-for-a-climate-tech-scale-up.pdf
Share Option Loans
Senior executive · US-headquartered AI company
Artificial intelligence
United States · Switzerland
USD 24M
Funded in 9 weeks
Executive held material vested options in a private company expected to IPO in 18–30 months but needed liquidity for a real estate acquisition without triggering a sale or tax event.
Structured a non-recourse loan collateralised by the underlying shares, with a Swiss private bank as lender and bespoke valuation, margin and downside-sharing mechanics.
USD 24M drawn at a competitive blended cost. Executive retained 100% economic upside on the underlying position.
share-option-loans-usd-24m-non-recourse-facility-against-pre-ipo-equity.pdf
Energy Projects — Europe
Mid-market IPP · Iberian peninsula
Renewable energy
Spain · Portugal
EUR 78M project finance
Grid connection achieved
Sponsor controlled a portfolio of greenfield PV sites with permits but lacked the EPC, offtake and senior debt package required to reach financial close.
We led EPC selection, negotiated a 12-year corporate PPA with an industrial offtaker and structured non-recourse senior debt with two European banks alongside a mezzanine sleeve.
EUR 78M financed at competitive spreads; 120 MW energised on schedule and feeding the grid.
energy-projects-europe-120-mw-solar-portfolio-origination-to-financial-close.pdf
Maritime & Aviation Finance
Mediterranean tanker operator · 14-vessel fleet
Shipping — product tankers
Greece · Japan
USD 62M
Closed in 11 weeks
Operator wanted to take delivery of two new-build LR2 tankers without further leveraging its balance sheet or compromising existing bank covenants.
We arranged a Japanese Operating Lease with Call Option (JOLCO) through a Tokyo-based equity arranger and a senior debt tranche from two Asian lenders, with bareboat charter mechanics tailored to the operator.
USD 62M total financing closed; balance-sheet light structure with a fixed-price purchase option in year 10.
maritime-aviation-finance-usd-62m-jolco-for-two-lr2-product-tankers.pdf
Yacht & Superyacht Finance
GCC family office · Italian shipyard build
Yachts — superyacht new-build
UAE · Italy · Cayman Islands
EUR 24.7M (65% LTV)
Funded across yard stages
The principal had committed to a EUR 38M 58m custom build and wanted to fund shipyard stage payments with debt rather than releasing capital from the family office's investment portfolio.
We structured a Cayman-registered owning company, ran a competitive process across European private banks and specialist yacht finance desks, and arranged a 10-year facility drawn against yard milestone certificates with charter earnings assigned as additional security.
65% of the build price financed at EURIBOR + 250bps; charter income services the facility from delivery and the family office's portfolio remained fully invested.
Company Aircraft & Business Jets
European industrial group · first corporate aircraft
Aviation — business jet
Germany · Isle of Man · United States
USD 32.2M (70% LTV)
Closed in 9 weeks
The group had identified a pre-owned G650ER at USD 46M and needed acquisition debt, an efficient ownership registry and a VAT-compliant structure for European operations — without disturbing its working-capital lines.
We appointed an aviation lending desk at a Tier-1 European bank, coordinated appraisal and pre-purchase inspection, set up an ownership SPV with Isle of Man registration and negotiated an 8-year term loan on an aircraft mortgage and IDERA package.
70% of appraised value financed at SOFR + 225bps, closed nine weeks from mandate, with the aircraft held off the group's operating cashflow.
Banking Introductions
EUR 600M AUM single-family office · GCC principal
Private wealth
United Kingdom · UAE · Switzerland · Singapore
4 jurisdictions
All accounts opened in 6 weeks
Family office needed coordinated private and corporate banking across four jurisdictions for a new global investment platform — with consistent KYC, custody and FX execution.
We introduced four Tier-1 institutions, coordinated KYC packs once and managed the relationship managers in parallel — including a dedicated DIFC corporate structure.
All operating, custody and FX accounts opened within six weeks; preferential pricing negotiated across the platform.
banking-introductions-multi-jurisdiction-banking-for-a-single-family-office.pdf
International Company Formation
Independent investment manager spinning out from a US bank
Asset management
UAE (DIFC) · Cayman · UK
1 holdco · 6 SPVs
Operational in 10 weeks
Founders needed a regulated DIFC operating entity, a Cayman master-feeder structure and UK marketing presence — with substance, governance and tax considered from day one.
We coordinated DFSA licensing, incorporated the Cayman fund vehicles, established a UK appointed-representative arrangement and provided directors, registered offices and ongoing administration.
Manager launched on schedule with USD 220M anchor capital. Full ongoing administration handled in-house.
international-company-formation-difc-holding-spv-platform-for-an-investment-manager.pdf
Banking & Company Formation
Türkiye-headquartered industrial group · USD 350M revenue
Industrial · cross-border expansion
Türkiye · UAE (DIFC) · Switzerland (Zug)
2 jurisdictions · 3 banks
Operational in 9 weeks
Founder-led Turkish group expanding into MENA distribution and European treasury needed a compliant Dubai operating company and a Swiss holding vehicle — with operating, FX and custody banking in both jurisdictions. Direct approaches to Tier-1 banks had stalled on KYC and source-of-wealth diligence.
We incorporated a DIFC-registered operating entity for the MENA business and a Zug AG holding company for European treasury and IP. KYC, UBO and source-of-wealth packs were prepared once and reused across institutions. We then introduced and coordinated three Tier-1 banks — one Emirati and two Swiss — including private and corporate relationships, with directors, registered offices and ongoing administration provided in-house.
Both entities were live in nine weeks; all operating, FX and custody accounts opened in parallel. Group consolidated EUR treasury onto the Swiss platform and routed all GCC contracts through the DIFC company in time for the next contracting cycle.
banking-company-formation-dubai-swiss-platform-for-a-turkish-industrial-group.pdf
Advisory & Structuring
Founder-led specialty healthcare group · 3 countries
Healthcare services
United Kingdom · DACH
12-month engagement
IPO-ready in 9 months
Founder-led group with strong fundamentals lacked the governance, reporting cadence and equity story required for a credible LSE listing.
We embedded a senior team to overhaul board composition, build IFRS-grade reporting, refine the equity narrative and run pre-IPO investor education with 22 long-only funds.
Listing committee approval secured; cornerstone interest covering 38% of the planned float ahead of formal launch.
advisory-structuring-pre-ipo-readiness-for-a-european-healthcare-group.pdf
ECA Finance — UKEF
Ministry-backed healthcare PPP · Spain
Healthcare infrastructure
Spain · United Kingdom
GBP 220M · 14-year tenor
Financial close achieved
Sponsor required long-tenor, fixed-rate financing for medical equipment and EPC works sourced predominantly from UK suppliers — beyond the appetite of regional commercial banks.
We structured a UKEF Buyer Credit Facility with two international banks as Mandated Lead Arrangers, alongside a CIRR fixed-rate option, premium financing and a separate commercial tranche for non-eligible content.
GBP 220M closed at a competitive all-in cost, 14-year door-to-door tenor. Equipment delivered on milestone schedule.
eca-finance-ukef-gbp-220m-ukef-buyer-credit-for-a-spanish-hospital-programme.pdf
ECA Finance — UKEF
European offshore wind developer · UK content tier-1
Renewable energy
United Kingdom · Northern Europe
USD 95M
Closed in 16 weeks
Developer needed working capital and bonding lines tied to UK-manufactured turbine components and installation services, with cover beyond standard commercial limits.
Combined a UKEF General Export Facility with bond-support guarantees across three UK clearing banks — releasing balance-sheet capacity and unlocking UK supplier discounts.
USD 95M facility committed, freeing up USD 40M of cash collateral and accelerating UK procurement.
eca-finance-ukef-usd-95m-ukef-supported-facility-for-an-offshore-wind-supply-chain.pdf
ECA Finance — Hermes
Listed building-materials group · MENA region
Industrial plant & EPC
Germany · MENA
EUR 140M · 10-year tenor
Plant commissioned on schedule
Borrower needed long-tenor capex financing for a German EPC contract upgrading two cement lines, with limited local bank capacity for a 10-year profile.
Arranged a Hermes-Deckung buyer credit through two European banks, with the premium financed into the loan and a parallel untied tranche for civil works and local content.
EUR 140M financial close; plant modernisation completed on schedule with 18% energy-efficiency improvement.
eca-finance-hermes-eur-140m-hermes-covered-buyer-credit-for-cement-plant-modernisation.pdf
ECA Finance — Hermes
State-owned rail operator · Central Asia
Transport infrastructure
Germany · Central Asia
EUR 65M · 12-year tenor
Fleet delivered in 22 months
Operator required ECA-backed financing for German-built locomotives and spare parts, with sovereign guarantee structuring across two ministries.
Structured a Hermes-covered buyer credit with a single European bank as lender, coordinated sovereign guarantee documentation and managed milestone-based disbursement against delivery.
EUR 65M drawn against delivery milestones; fleet handed over and in commercial service within 22 months of mandate.
eca-finance-hermes-eur-65m-hermes-facility-for-rail-rolling-stock-procurement.pdf
Eurobond Issuance
Investment-grade industrial group · CEEMEA
Diversified industrials
CEEMEA · global investor base
USD 750M · 7-year
Priced 25 bps inside IPTs
Issuer wanted to diversify away from bank debt and establish an international curve, but had no prior bond track record and faced a volatile EM rates backdrop.
We led issuer preparation across rating advisory, EMTN-style documentation and a two-week global roadshow with anchor accounts in London, Frankfurt, Dubai and Singapore — with three international banks as joint bookrunners.
USD 750M priced at 25 bps inside initial price thoughts; 4.1× oversubscribed with 180+ accounts. Curve now actively quoted by 6 dealers.
eurobond-issuance-usd-750m-debut-reg-s-senior-unsecured-em-corporate.pdf
Eurobond Issuance
Listed European utility · investment grade
Power & renewables
Europe · Asia investor base
EUR 500M · 10-year green
Negative new-issue concession
Issuer needed to refinance maturing senior debt while signalling its capex pivot to renewables to dedicated ESG investors — without paying a greenium discount.
We coordinated second-party opinion on the green bond framework, structured eligible-asset reporting and ran a focused investor education programme with 35 dedicated ESG accounts ahead of a one-day execution.
EUR 500M priced through fair value at MS+95 bps; 78% allocation to dark-green and ESG-mandated investors. Listed on Euronext Dublin.
eurobond-issuance-eur-500m-green-bond-inaugural-issue-utility.pdf
Global presence
From London's institutional desks to Dubai's sovereign capital and Istanbul's emerging-market deal flow — we operate where the opportunity is.
London
United Kingdom
Global Headquarters
Mayfair · institutional capital markets desk
Dubai
United Arab Emirates
MENA & GCC Hub
Sovereign and family office coverage
Istanbul
Türkiye
Eurasia Gateway
Emerging markets execution
— Our People
Our partners have built their careers inside the world's leading financial institutions — J.P. Morgan, Deloitte, Fortune 500 and FTSE 100 firms — and now bring that bench to founders and asset owners across Europe, the Middle East and Türkiye.
Chief Executive Officer
Cambridge, UK
Cagri leads the Private Share Group from Cambridge, with executive oversight of the firm's operations across the United Kingdom, Dubai and Türkiye. Over nearly two decades dedicated exclusively to financial services — nine of them within Fortune 500 and FTSE 100 institutions — he has cultivated enduring relationships with founders, principals and senior executives across Europe, the Middle East and the United States.
He advises portfolio companies on the origination and stewardship of global funding solutions, with deep expertise in capital raising, trade finance, large-scale M&A and the structuring of complex cross-border transactions.
He is also the founder of [Global Funding Gateway](https://globalfundinggateway.com), one of the world's largest global funding hubs, connecting borrowers, sponsors and asset owners with banks, export credit agencies, private credit funds and institutional investors across more than 40 markets.
Cagri holds a BSc in Electrical & Electronics Engineering, an MSc in Artificial Intelligence Programming and an Executive MBA in Finance.
Head of UK Practice
London, UK
Peter leads the firm's UK practice and carries primary responsibility for its most significant mandates and strategic decisions.
Prior to joining Private Shares, he spent several years at J.P. Morgan in London, where he advised many of Europe's leading financial institutions on M&A and corporate finance transactions.
He read Modern History at Oxford University, graduating with a Starred First, and subsequently completed an MSc at Oxford with Distinction.
Head of Türkiye Practice
Istanbul, Türkiye
Mert served as General Manager of AG Medical & Consulting from 2016 to 2019, directing operations on a portfolio of landmark Turkish infrastructure programmes — including the Yavuz Sultan Selim Bridge and Istanbul New Airport — in a subcontracting capacity.
Between 2019 and 2020 he advised Doğuş Group, one of Türkiye's largest diversified conglomerates, on marketing and commercial strategy. As founder of Meba Construction, he subsequently led multi-million-euro EBRD-funded developments in Serbia, with operational responsibility for more than 500 personnel across multiple sites.
Since March 2022, Mert has served as the firm's Regional Director, with full responsibility for operations across Türkiye.
Liquidity & Partnerships Manager
London, UK
Prior to Private Shares, Alan spent six years at Deloitte, latterly within the Investment Management & Private Equity division, where he specialised in the audit of fair-value positions held by venture capital and private equity funds.
He is a recognised specialist in private company valuation.
Alan holds a BEng (Hons) in Engineering and a Post-Graduate Diploma in Accounting Sciences. He is a qualified Chartered Accountant and has passed Level I of the CFA Program.
A note from the firm
"Our team is mostly entrepreneurs — people who've built and financed companies themselves. That changes the conversation."
— The Private Shares partnership
Founded in 2007 as a small-to-medium enterprise, Private Shares has grown into a global force with a 50+ person team operating across three countries.
We partner with over 80 financial institutions worldwide to provide innovative liquidity and capital solutions for private companies — from secondary liquidity and primary raises to bespoke share option loan programmes.
Our management team — comprised mainly of entrepreneurs with backgrounds in finance and engineering — brings a unique, problem-solving mindset to each relationship, empowering companies to reach their full potential in the private capital landscape.
2007
Founded
3
Continents
∞
Discretion
Client voices
Four conversations with leaders we have advised across our practice areas — on what the mandate looked like, how Private Shares delivered and what changed for their organisation.
Q
A
United Kingdom
🇬🇧
London-listed renewables developer
Group CFO
Eurobond Issuance
Why did you bring Private Shares in rather than going direct to the banks?
We had relationships with three of the bookrunners already, but we needed an independent voice in the room — someone who would push back on pricing and structure on our behalf. Private Shares sat on our side of the table for the entire process.
What did the mandate cover?
Inaugural EUR 500m green bond. They coordinated the second-party opinion, ran the investor education programme across 35 ESG accounts and managed the one-day execution window with the syndicate.
What was the outcome for the organisation?
We priced through fair value at MS+95bps with 78% allocation to dedicated ESG mandates. More importantly, we now have a green framework we can re-tap, and a real ESG investor base — not just a transaction.
Türkiye
🇹🇷
Anatolia-based hospital group
Chief Executive Officer
ECA Finance — UKEF
What problem were you trying to solve?
We were modernising four hospitals and the local-currency funding market simply could not meet the tenor we needed. We had British equipment in the specification, which is what first led us to Private Shares.
How did the team structure the financing?
They built a GBP 220m UKEF-backed buyer credit and brought in two international banks as lenders. The structure gave us a 14-year tenor and removed the FX refinancing risk we were carrying on the previous facility.
What stood out about working with them?
They understood both the export credit world in London and the regulatory environment in Türkiye. That combination is rare. Documentation that would normally take a year closed in under seven months.
Germany
🇩🇪
Mittelstand industrial manufacturer
Managing Director
ECA Finance — Hermes
Why did you need external advisory for a Hermes transaction?
We are a family-owned business and this was our largest single contract — a EUR 140m cement plant modernisation in North Africa. We did not want to learn buyer credit on the job.
What did Private Shares deliver?
They led the entire Hermes application, negotiated the buyer credit with a German bank and coordinated with the borrower's counsel in three jurisdictions. We focused on engineering; they handled the finance.
Would you describe the relationship as transactional or ongoing?
Ongoing. Two further export contracts are now in early structuring with the same team. They know our business, our risk appetite and our board.
Spain
🇪🇸
Iberian climate-tech scale-up
Co-founder & CEO
Primary Capital Raise
At what stage did you engage Private Shares?
We had closed a Series B locally and needed a Series C with international growth investors. Our existing Spanish VCs could follow but not lead at that ticket size.
How did they approach the round?
They mapped 40-plus targets across London, Munich, Zurich and the Gulf, ran a tightly choreographed process and brought us a EUR 95m round led by two strategic investors with industrial offtake interest.
What did that change for the company?
Beyond the capital, the cap table now opens doors in markets we could not reach alone. Private Shares stayed involved through documentation and still introduces partners post-closing.
Research & briefings
Confidential briefings prepared for clients, investors and strategic partners. Each report distils where capital is flowing, where it is not, and what the desks we work with are actually pricing.
Download the full report
Prepared for Private Shares clients and professional readers following UK policy, rates and capital markets.
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Reports are prepared for institutional and professional clients only. Distribution is restricted. Nothing on this page constitutes investment advice or an offer to transact.
Market Outlook
H1 2026 · Issue 01
Where rates are actually heading, why lenders are prioritising quality over volume, and which themes — energy infrastructure, battery storage, AI compute, ECA-backed trade — are attracting institutional capital into 2026.
5 pages
Shipping Update
H1 2026 · Issue 02
Vessel markets, charter rates, orderbook dynamics, asset values and the financing backdrop shaping maritime opportunities in 2026 — including ECA-backed structures for Turkish, Greek and GCC owners.
6 pages
UK Policy & Rates
H2 2026 · Issue 03
What the leadership change means for the Autumn Budget, the Bank of England rate path, Sterling and Gilts — and how corporates, sponsors and lenders should position portfolios into 2027.
10 pages
Special Report
September 2026 · Issue 04
Middle East escalation, the energy shock and the case for fixing borrowing costs — how three pressured chokepoints transmit through oil, freight and inflation into SOFR, SONIA and EURIBOR, what each basis point costs a borrower, and how to weigh fixing, floating and partial hedging.
14 pages
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Istanbul
Türkiye
Experts in financial consulting. Custom liquidity, primary capital and loan structures for private companies since 2007.
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Unit 23, Cambridge Science Park,
Milton Road, Cambridge, CB4 0EY, UK
Dubai, United Arab Emirates
Istanbul, Türkiye
+44 20 8895 6608